LETTER OF AGREEMENT
FIRST AMERICAN INVESTMENT FUNDS, INC. - INTERNATIONAL FUND
March 28, 2007
Xx. Xxxxx Xxxxxxx
X.X. Xxxxxx Investment Management Inc.
000 Xxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Dear Xx. Xxxxxxx:
X.X. Xxxxxx Investment Management Inc. (the "Sub-Advisor") currently serves
as sub-advisor to the International Fund (the "Fund"), a series of First
American Investment Funds, Inc. (the "Corporation"), pursuant to an Investment
Sub-Advisory Agreement between FAF Advisors, Inc. (the "Advisor") and the
Sub-Advisor, dated December 9, 2004 (the "Agreement").
Section 11 of the Agreement provides that the Agreement is terminable,
without penalty, on 90 days' written notice by the Advisor, by the Corporation's
Board, or by the Sub-Advisor. This section of the Agreement also provides that
"the date of termination may be less than or more than 90 days after the written
notice of termination so long as the duration of the notice period is agreed
upon by the Advisor and Sub-Advisor." As the Advisor and Sub-Advisor desire to
allow for a notice period of not more than 60 days, the Advisor and Sub-Advisor
hereby agree as follows:
The Agreement is terminable, without penalty, on 60 days' written notice
(the date of termination may be less than 60 days after the written notice
of termination so long as the duration of the notice period is agreed upon
by the Advisor and Sub-Advisor) by the Advisor, by the Corporation's Board,
by vote of a majority of the Fund's outstanding voting securities, or by
the Sub-Advisor, and will immediately terminate upon termination of the
Advisory Agreement.
If the foregoing accurately sets forth our agreement, kindly indicate your
acceptance hereof by signing and returning one of the enclosed copies hereof.
Very truly yours,
FAF ADVISORS, INC.
By: /s/ Xxxxxx X. Xxxxx, III
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Name: Xxxxxx X. Xxxxx, III
Title: Chief Financial Officer
Accepted:
X.X. XXXXXX INVESTMENT MANAGEMENT INC.
By: /s/ Xxxxx Xxxxxxx
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Name: Xxxxx Xxxxxxx
Title: Vice President
