AMENDMENT NO. 10
TO
INVESTMENT ADVISORY AGREEMENT
The Investment Advisory Agreement between the AAL Mutual Funds and AAL Capital
Management Corporation (f/k/a AAL Advisors, Inc.), effective November 28, 1990,
is hereby amended, effective September 1, 1998, as follows:
1. Schedule A attached to the Investment Advisory Agreement is amended
effective September 1, 1998. An amended Schedule A, September 1, 1998, is
attached hereto.
IN WITNESS WHEREOF the parties hereto have caused this Amendment to be signed by
the respective Officers effective as of September 1, 1998.
ATTEST: THE AAL MUTUAL FUNDS
By: /s/ Xxxxxx X. Same By: /s/Xxxxxx X. Xxxxxxxx
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Xxxxxx X. Same, Secretary Xxxxxx. X. Xxxxxxxx, President
ATTEST: AAL CAPITAL MANAGEMENT
CORPORATION
By: /s/ Xxxxxx X. Same By: /s/ Xxxxxx X. Xxxxxxxx
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Xxxxxx X. Same, Secretary Xxxxxx X. Xxxxxxxx, President
EXHIBIT A
TO
THE AAL MUTUAL FUNDS INVESTMENT ADVISORY AGREEMENT
Dated November 28, 1990
1. The AAL Capital Growth Fund (effective September 1, 1998)
The Management fee for this Fund, calculated in accordance with paragraph 5 of
The AAL Mutual Funds Investment Advisory Agreement, shall be at the annual rate
of 0.65 of 1% on the first $500 million of average daily net assets, 0.575 of 1%
on average daily net assets on the next $500 million of average daily net
assets, 0.50 of 1% on average daily net assets over $1 billion.
2. The AAL Bond Fund (effective September 1, 1998)
The management fee for this Fund, calculated in accordance with paragraph 5 of
The AAL Mutual Funds Investment Advisory Agreement, shall be at the annual rate
of 0.45 of 1% on average daily net assets.
3. The AAL Municipal Bond Fund (effective September 1, 1998)
The management fee for this Fund, calculated in accordance with paragraph 5 of
The AAL Mutual Funds Investment Advisory Agreement, shall be at the annual rate
of 0.45 of 1% on average daily net assets.
4. The AAL Money Market Fund (effective December 21, 1990)
The management fee for this Fund, calculated in accordance with paragraph 5 of
The AAL Mutual Funds Investment Advisory Agreement, shall be at the annual rate
of 0.50 of 1% on the first $500 million of average daily net assets and 0.45 of
1% on average daily net over $500 million.
5. The AAL U.S. Government Zero Coupon Target Fund, Series 2001 (effective
November 13, 1991)
The management fee for this Fund, calculated in accordance with paragraph t of
The AAL Mutual Funds Investment Advisory Agreement, shall be at the annual rate
of 0.50 of 1% on average daily net assets.
6. The AAL U.S. Government Zero Coupon Target Fund, Series 2006 (effective
November 13, 1991)
The management fee for this Fund, calculated in accordance with paragraph t of
The AAL Mutual Funds Investment Advisory Agreement, shall be at the annual rate
of 0.50 of 1% on average daily net assets.
7. The AAL Mid Cap Stock Fund (effective September 1, 1998)
The management fee for this Fund, calculated in accordance with paragraph 5 of
The AAL Mutual Funds Investment Advisory Agreement, shall be at the annual rate
of 0.70 of 1% on the first $200 million of average daily net assets and 0.65 of
1% on average daily net assets over $200 million.
8. The AAL Equity Income Fund (effective September 1, 1998)
The management fee for this Fund, calculated in accordance with paragraph 5 of
The AAL Mutual Funds Investment Advisory Agreement, shall be at the annual rate
of 0.45 of 1% on average daily net assets.
9. The AAL International Fund (effective December 1, 1997)
The management fee for this Fund, calculated in accordance with paragraph 5 of
The AAL Mutual Funds Investment Advisory Agreement, shall be at the annual rate
of 0.80 of 1% of average daily net assets.
10. The AAL Small Cap Stock Fund (effective September 1, 1998)
The management fee for this Fund, calculated in accordance with paragraph 5 of
The AAL Mutual Funds Investment Advisory Agreement, shall be at the annual rate
of 0.70 of 1% on the first $200 million of average daily net assets and 0.65 of
1% on average daily net assets over $200 million.
11. The AAL High Yield Bond Fund (effective September 1, 1998)
The management fee for this Fund, calculated in accordance with paragraph 5 of
The AAL Mutual Funds Investment Advisory Agreement, shall be at the annual rate
of 0.55 of 1% on average daily net assets.
12. The AAL Balanced Fund (effective September 1, 1998)
The management fee for this Fund, calculated in accordance with paragraph 5 of
The AAL Mutual Funds Investment Advisory Agreement, shall be at the annual rate
of 0.55 of 1% on average daily net assets.
