Amendment to Subadvisory Agreement
Amendment to Subadvisory Agreement
Prudential Investments LLC and Xxxxxxxxx Xxxxxx Management LLC (“Subadviser”) hereby agree to amend the subadvisory agreement (including any amendments or supplements) listed below (collectively, the “Agreement”) by amending Schedule A to such Agreement (“Schedule A”). Schedule A addresses the level of subadvisory fees paid by the Manager to Subadviser under the Agreement. Schedule A is hereby replaced in its entirety with the attached Amended Schedule A, effective as of April 1, 2014.
The Agreement affected by this Amendment consists of the following:
- Subadvisory Agreement, dated as of June 7, 2013, between Prudential Investments LLC, and Subadviser, pursuant to which Subadviser has been retained to provide investment advisory services to the PSF SP International Growth Portfolio of Prudential Series Fund.
Prudential Investments LLC and Subadviser further agree that each Amended Schedule A supersedes any other fee arrangements, written or oral, that may be applicable to the Agreements listed above.
IN WITNESS HEREOF, Prudential Investments LLC and Xxxxxxxxx Xxxxxx Management, LLC have duly executed this Amendment as of the date and year first written above.
PRUDENTIAL INVESTMENTS LLC
By: /s/ Xxxxxxx X. Xxxxxx
Name: Xxxxxxx X. Xxxxxx
Title: Senior Vice President
xxxxxxxxx xxxxxx management, LLC
By: /s/ Xxxxxx Xxxxx
Name: Xxxxxx Xxxxx
Title: President
Effective Date: April 1, 2014
AMENDED SCHEDULE A FOR Subadvisory Agreement
PSF SP International Growth Portfolio
As compensation for services provided by Xxxxxxxxx Xxxxxx Management LLC (Xxxxxxxxx Xxxxxx), Prudential Investments LLC (PI) will pay Xxxxxxxxx Xxxxxx an advisory fee on the net assets managed by Xxxxxxxxx Xxxxxx that is equal, on an annualized basis, to the following:
| Portfolio | Subadvisory Fee Rate* |
| PSF SP International Growth Portfolio | 0.375% of average daily net assets to $500 million; 0.325% of average daily net assets over $500 million to $1.5 billion; and 0.300% of average daily net assets over $1.5 billion |
Effective Date: April 1, 2014
*Xxxxxxxxx Xxxxxx has also agreed to waive the compensation due to it under this agreement to the extent necessary to reduce its effective monthly subadvisory fee for the PSF SP International Growth Portfolio of the Prudential Series Fund by the following percentages based on the combined average daily net assets of the following portfolios: PSF SP International Growth Portfolio of the Prudential Series Fund, the AST Xxxxxxxxx Xxxxxx/LSV Mid-Cap Value Portfolio of Advanced Series Trust, AST Xxxxxxxxx Xxxxxx Mid-Cap Growth Portfolio of Advanced Series Trust and the AST International Growth Portfolio of Advanced Series Trust:
Combined Asset Levels Percentage Fee Waiver
Assets up to $750 million No Fee Reduction
Assets between $750 million and $1.5 billion 5.0% Fee Reduction
Assets between $1.5 billion and $3.0 billion 7.5% Fee Reduction
Assets above $3.0 billion 10.0% Fee Reduction
