NORTHERN INSTITUTIONAL FUNDS
FORM N-SAR
File No. 811-03605
Fiscal Year Ended November 30, 2003
EX - 99.77Q1(e): Copies of any new or amended Registrant investment advisory
contract
NORTHERN INSTITUTIONAL FUNDS
ADDENDUM NO. 1 TO THE INVESTMENT ADVISORY AGREEMENT
This Addendum, dated as of the 20th day of August, 2003, is entered into
between NORTHERN INSTITUTIONAL FUNDS (the "Trust"), a Delaware statutory trust,
and NORTHERN TRUST INVESTMENTS, N.A. (the "Adviser"), an Illinois state bank.
WHEREAS, the Trust and the Adviser have entered into an Investment
Advisory Agreement dated March 1, 2001 (the "Advisory Agreement"), pursuant to
which the Trust appointed the Adviser to act as Adviser to the Trust for the
Core Bond Portfolio;
WHEREAS, Section 1(b) of the Advisory Agreement provides that in the event
the Trust establishes one or more additional investment portfolios with respect
to which it desires to retain the Adviser to act as Adviser under the Advisory
Agreement, the Trust shall so notify the Adviser in writing and if the Adviser
is willing to render such services it shall notify the Trust in writing, and the
compensation to be paid to the Adviser shall be that which is agreed to in
writing by the Trust and the Adviser; and
WHEREAS, pursuant to Section l(b) of the Advisory Agreement, the Trust has
notified the Adviser that it is establishing the Prime Obligations Portfolio
(the "Portfolio"), and that it desires to retain the Adviser to act as the
Adviser therefor, and the Adviser has notified the Trust that it is willing to
serve as Adviser for the Portfolio;
NOW THEREFORE, the parties hereto, intending to be legally bound, hereby
agree as follows:
1. Appointment. The Trust hereby appoints the Adviser to act as Adviser
to the Trust for the Portfolio for the period and on the terms set
forth in the Advisory Agreement. The Adviser hereby accepts such
appointment and agrees to render the services set forth in the
Advisory Agreement for the
compensation herein provided.
2. Compensation. For the services provided and the expenses assumed
pursuant to the Advisory Agreement, the Trust will pay the Adviser,
and the Adviser will accept as full compensation therefor from the
Trust, a fee at an annual rate of .15 of 1% of the Portfolio's
average net assets. The fee will be computed based on net assets on
each day and will be paid to the Adviser monthly. Such fee as is
attributable to the Portfolio shall be a separate charge to such
Portfolio and shall be the several (and not joint or joint and
several) obligation of the Portfolio.
3. Capitalized Terms. From and after the date hereof, the term
"Portfolios" as used in the Advisory Agreement shall be deemed to
include the Portfolio. Capitalized terms used herein and not
otherwise defined shall have the meanings ascribed to them in the
Advisory Agreement.
4. Miscellaneous. Except to the extent supplemented hereby, the
Advisory Agreement shall remain unchanged and in full force and
effect, and is hereby ratified and confirmed in all respects as
supplemented hereby.
IN WITNESS WHEREOF, the undersigned have executed this Addendum as
of the day and year first above written.
NORTHERN INSTITUTIONAL FUNDS
Attest: /s/ Xxxxx X. Xxxxxx By: /s/ Xxxx X. Xxxxxxxxxx
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Name: Xxxx X. Xxxxxxxxxx
Title: Vice President
NORTHERN TRUST
INVESTMENTS, N.A.
By: /s/ Xxxx X. Xxxxxxxxxx
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Name: Xxxx X. Xxxxxxxxxx
Title: Senior Vice President
