1
EXHIBIT 23(d)-9a
AMENDMENT NO. 1
TO THE
SUB-ADVISORY AGREEMENT
BETWEEN BAY ISLE FINANCIAL CORPORATION AND
XXXXXX LLC
This AMENDMENT NO. 1 TO THE SUB-ADVISORY AGREEMENT (the "Amendment") is
made effective the 16th of May, 2000 between Bay Isle Financial Corporation, a
California corporation ("Bay Isle"), and Xxxxxx LLC, a Nevada limited liability
company ("Xxxxxx").
WHEREAS, Bay Isle and Xxxxxx entered into that certain Sub-Advisory
Agreement dated effective as of July 1, 1999 (the "Agreement"), setting forth
the terms and conditions under which Xxxxxx has engaged Bay Isle to provide
sub-advisory investment services with respect to the Xxxxxx Information
Technology Fund (the "Fund"), a series of the Xxxxxx Investment Portfolio Trust,
a Delaware business trust.
WHEREAS, Bay Isle and Xxxxxx desire to amend the Agreement in the
manner hereinafter set forth;
NOW THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, pursuant to Section 11 the
Agreement, Bay Isle and Xxxxxx hereby amend the Agreement in the following form:
1. Sub-Advisory Fees. Section 4 of the Agreement entitled Compensation
is hereby deleted and replaced in its entirety by the following:
"4. Compensation. For Bay Isle's services under this
Agreement, Xxxxxx shall pay to Bay Isle a fee equal to 50% of
the advisory fees Xxxxxx receives from the Fund. Such fee
shall be computed and accrued daily and payable monthly as of
the last day of each month during which or part of which this
Agreement is in effect. For the month during which this
Agreement becomes effective and the month during which it
terminates, however, there shall be an appropriate proration
of the fee payable for such month based on the number of
calendar days of such month during which the Agreement is
effective."
2. No Other Changes. No changes to the Agreement are intended by the
parties other than the change reflected in Section 1 of this Amendment, and all
other provisions of the Agreement are hereby confirmed.
3. Governing Law. This Amendment shall be construed in accordance with
the laws of the State of Colorado (without giving effect to the conflicts of
laws principals thereof) and the Investment Company Act of 1940, as amended. To
the extent that applicable laws of the
1
2
State of Colorado conflict with the applicable provisions of the Investment
Company Act of 1940, as amended, the latter shall control.
IN WITNESS THEREOF, Bay Isle and Xxxxxx have caused this Amendment to
be executed by their duly authorized officers effective of the date first
written above.
XXXXXX LLC BAY ISLE FINANCIAL CORPORATION
By: By:
-------------------------------- --------------------------------
Name: Xxxx X. Xxxxxxxx Name: Xxxx X. Xxxxxxx
Title: President Title: President
2
