Amendment to Subadvisory Agreements
Amendment to Subadvisory Agreements
Prudential Investments LLC and Xxxxxxx Xxxxx Asset Management, L.P. (“Subadviser”) hereby agree to amend the subadvisory agreements (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 May 1, 2014.
The Agreement affected by this Amendment consists of the following:
- Subadvisory Agreement, dated as of January 1, 2006, between Prudential Investments LLC, and Subadviser, pursuant to which Subadviser has been retained to provide investment advisory services to the PSF Small Cap Value 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 Xxxxxxx Sachs Asset Management, L.P. have duly executed this Amendment as of the date and year first written above.
PRUDENTIAL INVESTMENTS LLC
By: /s/ Xxxxxxx Xxxxx
Name: Xxxxxxx Xxxxx
Title: Vice President
Xxxxxxx Xxxxx Asset Management, L.P.
By: /s/ Xxxxx Xxxxx
Name: Xxxxx Xxxxx
Title: Managing Director
Effective Date: May 1, 2014
AMENDED SCHEDULE A FOR Subadvisory Agreement
PSF Small Cap Value Portfolio
As compensation for services provided by Xxxxxxx Sachs Asset Management, L.P. (Xxxxxxx Xxxxx), 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 Small Cap Value Portfolio | 0.50% for first $500 million in average daily net
assets; 0.45% over $500 million in average daily net assets |
Effective Date: May 1, 2014
*Xxxxxxx Sachs has also agreed to waive the compensation due to it under this agreement to the extent necessary to reduce its effective monthly subadvisory fees for the PSF Small Cap Value Portfolio by the following percentages based on the combined average daily net assets of the following portfolios: the AST Xxxxxxx Xxxxx Large Cap Value Portfolio of Advanced Series Trust, the AST Xxxxxxx Sachs Multi-Asset Portfolio of Advanced Series Trust, the AST Xxxxxxx Xxxxx Mid Cap Growth Portfolio of Advanced Series Trust, the AST Xxxxxxx Sachs Small Cap Value Portfolio of Advances Series Trust, the AST Xxxxxxx Xxxxx Strategic Income Portfolio of Advanced Series Trust, the AST Xxxxxxx Sachs Global Growth Portfolio of Advance Series Trust, and the sleeve of PSF SP Small-Cap Value Portfolio of the Prudential Series Fund for which Xxxxxxx Xxxxx acts as subadviser:
Combined Asset Levels Percentage Fee Waiver
Assets up to $1 billion 2.5% Fee Reduction
Assets between $1 billion and $2.5 billion 5.0% Fee Reduction
Assets between $2.5 billion and $5.0 billion 7.5% Fee Reduction
Assets above $5.0 billion 10.0% Fee Reduction
