AMENDMENT TO
INVESTMENT ADVISORY AGREEMENT
FOR THE OAKMARK SELECT FUND
XXXXXX ASSOCIATES INVESTMENT TRUST, a Massachusetts
business
trust registered under the Investment Company Act of 0000 (xxx 0000
Xxx )
as an open-end diversified management investment company
(the Trust ), and XXXXXX ASSOCIATES L.P., a Delaware limited
partnership registered under the Investment Advisers Act of 1940 as
an investment adviser (the Adviser ), agree that paragraph 6 of the
investment advisory agreement between the parties for The Oakmark
Select Fund (the Fund ) dated October 22, 1996 is amended as of the
date of this amendment to read as follows:
6. Compensation of Adviser. For the services to be rendered and the
charges and expenses to be assumed and to be paid by the Adviser
hereunder, the Trust shall pay out of Fund assets to the Adviser a
monthly fee, based on the Fund s net assets as of the last business day
of the preceding month, at the annual rate of 1.00% on the first
$1 billion of net assets, .95% on the next $500 million of net assets,
.90% on the next $500 million of net assets, .85% on the next
$500 million of net assets and .80% on net assets in excess of
2.5 billion. The fee for a month shall be paid as soon as practicable
after thelast day of that month. The fee payable hereunder shall be
reduced proportionately during any month in which this agreement is
not in effect for the entire month.
Dated: September 9, 1997
XXXXXX ASSOCIATES INVESTMENT TRUST
By: /s/ Xxxxxx X. Xxxxxxxxxxx
XXXXXX ASSOCIATES L.P.
by Xxxxxx Associates, Inc.
its General Partner
By: /s/ Xxxxxx Xxxx
