LETTER AGREEMENT
LETTER AGREEMENT
September 1, 2010
Xx. Xxxx Xxxxxxx
President and Chief Executive Officer
Xxxxxxx Investment Management Company
000 X Xxxxxx
Xxxxxx, XX 00000
| Re: | Advisory Agreement – Manager Compensation – Section 6.A Manager Compensation |
This letter agreement amends the Advisory Agreement (the “Agreement”) dated January 1, 1999 between Xxxxxxx Investment Company (“RIC”) and Xxxxxxx Investment Management Company (“RIMCo”). RIC and RIMCo desire to amend and restate Section 6.A of the Agreement as follows:
| 6. | Compensation of the Manager. |
| A. | As consideration for the Manager’s services to the following Sub-Trusts, the Manager shall receive from each of these Sub-Trusts an annual management fee, accrued daily at the rate of 1/365th of the applicable management fee and payable following the last day of each month, of the following annual percentages of each Sub-Trust’s average daily net assets during the month: |
| Fund |
Asset Level |
Fee |
||||
| Xxxxxxx Xxxxx Duration Bond |
All assets | 0.45 | % | |||
| Xxxxxxx Tax Exempt Bond |
All assets | 0.30 | % | |||
| Xxxxxxx Real Estate Securities |
All assets | 0.80 | % | |||
| Xxxxxxx Global Equity |
All assets | 0.95 | % | |||
| Xxxxxxx Emerging Markets |
All assets | 1.15 | % | |||
| Xxxxxxx Money Market |
All assets | 0.20 | % | |||
| Xxxxxxx U.S. Core Equity |
All assets | 0.55 | % | |||
| Xxxxxxx U.S. Small & Mid Cap |
All assets | 0.70 | % | |||
| Xxxxxxx Quantitative Equity |
All assets | 0.55 | % | |||
| Xxxxxxx International Developed Markets |
All assets | 0.70 | % | |||
| Xxxxxxx Investment Grade Bond |
All assets | 0.25 | % | |||
| Xxxxxxx Strategic Bond |
All assets | 0.50 | % | |||
| Xxxxxxx Tax-Managed U.S. Large Cap |
All assets | 0.70 | % | |||
| Xxxxxxx Commodity Strategy |
All assets | 1.25 | % | |||
| Xxxxxxx Global Credit Strategies |
All assets | 1.00 | % | |||
| Xxxxxxx Global Infrastructure |
All assets | 1.25 | % | |||
| Conservative Strategy |
All assets | 0.20 | % | |||
| Balanced Strategy |
All assets | 0.20 | % | |||
| Fund |
Asset Level |
Fee |
||||
| Moderate Strategy |
All assets | 0.20 | % | |||
| Growth Strategy |
All assets | 0.20 | % | |||
| Equity Growth Strategy |
All assets | 0.20 | % | |||
| Tax-Managed Mid & Small Cap |
All assets | 0.98 | % | |||
| Xxxxxxx U.S. Growth |
All assets | 0.80 | % | |||
| Xxxxxxx U.S. Value |
All assets | 0.70 | % | |||
| 2010 Strategy |
All assets | 0.00 | % | |||
| 2015 Strategy |
All assets | 0.00 | % | |||
| 2020 Strategy |
All assets | 0.00 | % | |||
| 2025 Strategy |
All assets | 0.00 | % | |||
| 2030 Strategy |
All assets | 0.00 | % | |||
| 2035 Strategy |
All assets | 0.00 | % | |||
| 2040 Strategy |
All assets | 0.00 | % | |||
| 2045 Strategy |
All assets | 0.00 | % | |||
| 2050 Strategy |
All assets | 0.00 | % | |||
| 2055 Strategy |
All assets | 0.00 | % | |||
| In Retirement |
All assets | 0.00 | % | |||
| 2017 Retirement Distribution – A Shares |
All assets | 0.20 | % | |||
| 2017 Retirement Distribution – S Shares |
All assets | 0.20 | % | |||
| 2017 Accelerated Distribution – A Shares |
All assets | 0.20 | % | |||
| 2017 Accelerated Distribution – S Shares |
All assets | 0.20 | % | |||
| 2027 Extended Distribution – A Shares |
All assets | 0.20 | % | |||
| 2027 Extended Distribution – S Shares |
All assets | 0.20 | % | |||
| Xxxxxxx Tax-Managed Global Equity |
All assets | 0.20 | % | |||
If this agreement is acceptable to you, please sign below to indicate your acceptance and agreement.
Sincerely,
| XXXXXXX INVESTMENT COMPANY | ||
| By: | /s/ Xxxx X Xxxxxxx | |
| Xxxx X. Xxxxxxx | ||
| Treasurer and Chief Accounting Officer | ||
| Accepted and Agreed: | ||
| XXXXXXX INVESTMENT MANAGEMENT COMPANY | ||
| By: | /s/ Xxxx Xxxxxxx | |
| Xxxx Xxxxxxx | ||
| President | ||
