Ex-99.(d)(70)
Exhibit (d)(70)
AMENDMENT TO INVESTMENT SUB-ADVISORY AGREEMENT
AMENDMENT made as of September 1, 2004 to the Investment Sub-Advisory
Agreement made as of the 17th day of November, 2003 (the "Agreement") between
Travelers Asset Management International Company LLC ("TAMIC") and Xxxxxxx Xxxxx
Investment Managers, L.P. (the "Sub-Adviser").
WITNESSETH:
WHEREAS, the TAMIC and the Sub-Adviser have entered into an Investment
Sub-Advisory Agreement with respect to the Xxxxxxx Xxxxx Large Cap Core
Portfolio (the "Agreement") dated November 17, 2003;
WHEREAS, TAMIC and the Sub-Adviser desire to amend the Agreement to
change the investment subadvisory fee;
NOW THEREFORE, in consideration of the mutual promises set forth below,
TAMIC and the Sub-Adviser hereby agree to amend paragraph 6 to this Agreement to
read as follows:
6. COMPENSATION
In consideration of the services rendered, the facilities
furnished, and the expenses assumed pursuant to this
Agreement, TAMIC will pay the Sub-Adviser a monthly fee
equivalent on an annual basis to the following:
ANNUAL AGGREGATE NET ASSET VALUE
MANAGEMENT FEE OF THE PORTFOLIO
0.350% of the first $250,000,000
0.325% of the next $250,000,000
0.300% of the next $500,000,000
0.275% of the next $1,000,000,000
0.225% of amounts over $2,000,000,000
The advisory fees will be deducted on each valuation date. The
Sub-Adviser shall have no right to obtain compensation
directly from the Trust for services provided hereunder and
agrees to look solely to TAMIC for payment of fees due. The
fee for the period from the Effective Date (defined below) of
the Agreement to the end of the month during which the
Effective Date occurs shall be prorated according to the
proportion that such period bears to the full monthly period.
Upon any termination of this Agreement before the end of a
month, the fee for such part of that month shall be prorated
according to the proportion that such period bears to the full
monthly period and shall be payable upon the date of
termination of this Agreement. For the purpose of determining
fees payable to TAMIC, the value of the Portfolio's net assets
shall be computed at the times and in the manner specified in
the then current Prospectus and/or the SAI.
IN WITNESS WHEREOF, this Amendment to the Agreement has been executed
by a duly authorized representative of each of the parties hereto as of the date
of the Amendment first set forth above.
Travelers Asset Management International
Company LLC
By: /s/ Xxxxx X. Xxxxxx
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Xxxxxxx Xxxxx Investment Managers, L.P.
By: /s/ Xxxxxx X. Xxxx
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