AMENDMENT TO SUBADVISORY AGREEMENTS
Exhibit (d)(12)(ii)
AMENDMENT TO SUBADVISORY AGREEMENTS
American Skandia Investment Services, Inc. and/or Prudential Investments LLC and X.X. Xxxxxx Investment Management Inc. (“X.X. Xxxxxx” or “Subadviser”) hereby agree to amend each of the seven subadvisory agreements (including amendments) listed below (collectively, the “Agreements”) by amending existing Exhibit A or Schedule A (as applicable) to each such Agreement (together, “Existing Schedule A”). Existing Schedule A addresses the level of subadvisory fees paid to X.X. Xxxxxx under each such Agreement. Existing Schedule A is hereby replaced in its entirety with the attached Amended Schedule A, effective as of January 1, 2007.
This Amendment may be executed by the parties in separate counterparts, each of which when so executed and delivered shall be an original but all of which taken together shall constitute one and the same instrument.
The Agreements affected by this Amendment consist of the following:
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Subadvisory Agreement, dated as of November 29, 2005, by and among American Skandia Investment Services, Inc., Prudential Investments LLC, and Subadviser, pursuant to which Subadviser has been retained to provide investment advisory services to the AST Large-Cap Value Portfolio of American Skandia Trust; |
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Subadvisory Agreement, dated as of January 1, 2006, by and between Prudential Investments LLC and Subadviser, pursuant to which Subadviser has been retained to provide investment advisory services to the SP Large-Cap Value Portfolio of The Prudential Series Fund; |
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Subadvisory Agreement, dated as of May 25, 2000, by and between Prudential Investments LLC and Subadviser, as amended and supplemented by an amendment dated July 1, 2005, pursuant to which Subadviser has been retained to provide investment advisory services to the Large Capitalization Value Portfolio of The Target Portfolio Trust; |
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Subadvisory Agreement, dated as of March 25, 2005, by and between Prudential Investments LLC and Subadviser, pursuant to which Subadviser has been retained to provide investment advisory services to the Target Conservative Allocation Fund of Target Asset Allocation Funds (formerly the Strategic Partners Conservative Allocation Fund of Strategic Partners Asset Allocation Funds); |
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Subadvisory Agreement, dated as of March 25, 2005, by and between Prudential Investments LLC and Subadviser, pursuant to which Subadviser has been retained to provide investment advisory services to the Target Moderate Allocation Fund of Target Asset Allocation Funds (formerly the Strategic Partners Moderate Allocation Fund of Strategic Partners Asset Allocation Funds); |
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Subadvisory Agreement, dated as of March 25, 2005, by and between Prudential Investments LLC and Subadviser, pursuant to which Subadviser has been retained to provide investment advisory services to the Target Growth Allocation Fund of Target Asset Allocation Funds (formerly the Strategic Partners Growth Allocation Fund of Strategic Partners Asset Allocation Funds); and
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Subadvisory Agreement, dated as of May 25, 2000, by and between Prudential Investments LLC and Subadviser, as amended and supplemented by an amendment dated July 1, 2005, pursuant to which Subadviser has been retained to provide investment advisory services to the Strategic Partners Large-Cap Value Fund of Strategic Partners Style Specific Funds. |
American Skandia Investment Services, Inc. and/or Prudential Investments LLC and Subadviser further agree that Amended Schedule A supersedes any other fee arrangements, written or oral, that may be applicable to the Agreements listed above.
IN WITNESS HEREOF, American Skandia Investment Services, Inc., Prudential Investments LLC, and X.X. Xxxxxx Investment Management Inc. have duly executed this Amendment as of the date and year first written above.
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PRUDENTIAL INVESTMENTS LLC |
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By:___________________________ | ||
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Name:________________________ |
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Title:_________________________ |
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AMERICAN SKANDIA INVESTMENT SERVICES, INC.
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By:___________________________ | ||
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Name:________________________ |
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Title:_________________________ |
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X.X. XXXXXX INVESTMENT
MANAGEMENT INC.
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By:__________________________ |
Name:________________________
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Title:_________________________ |
Effective Date: January 1, 2007
AMENDED SCHEDULE A
Target Asset Allocation Funds
The Target Portfolio Trust
Strategic Partners Style Specific Funds
American Skandia Trust
As compensation for services provided by X.X. Xxxxxx Investment Management, Inc. (X.X. Xxxxxx), American Skandia Investment Services, Inc. (ASISI) and/or Prudential Investments LLC (PI), as applicable, will pay X.X. Xxxxxx an advisory fee on the net assets managed by X.X. Xxxxxx that is equal, on an annualized basis, to the following:
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Portfolio Name |
Advisory Fee |
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Large Capitalization Value Portfolio of |
0.30% of combined average daily net assets up to $300 million and 0.25% of combined average daily net assets over $300 million* |
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Target Conservative Allocation Fund of |
0.30% of combined average daily net assets up to $300 million and 0.25% of combined average daily net assets over $300 million** |
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Target Moderate Allocation Fund of |
0.30% of combined average daily net assets up to $300 million and 0.25% of combined average daily net assets over $300 million*** |
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Target Growth Allocation Fund of |
0.30% of combined average daily net assets up to $300 million and 0.25% of combined average daily net assets over $300 million**** |
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Strategic Partners Large-Cap Value Fund of Strategic Partners Style Specific Funds |
0.30% of combined average daily net assets up to $300 million and 0.25% of combined average daily net assets over $300 million***** |
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AST Large-Cap Value Portfolio |
0.30% of combined average daily net assets up to $300 million and 0.25% of combined average daily net assets over $300 million****** |
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SP Large Cap Value Portfolio |
0.30% of combined average daily net assets up to $300 million and 0.25% of combined average daily net assets over $300 million******* |
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* For purposes of calculating the advisory fee payable to X.X. Xxxxxx, the assets managed by X.X. Xxxxxx in the Large Capitalization Value Portfolio of The Target Portfolio Trust will be aggregated with the assets managed by X.X. Xxxxxx in: (i) AST Large-Cap Value Portfolio of American Skandia Trust; (ii) the SP Large Cap Value Portfolio of The Prudential Series Fund; (iii) the Target Conservative Allocation Fund of Target Asset Allocation Funds (formerly the Strategic Partners Conservative Allocation Fund of Strategic Partners Asset Allocation Funds); (iv) the Target Moderate Allocation Fund of Target Asset Allocation Funds (formerly the Strategic Partners Moderate Allocation Fund of Strategic Partners Asset Allocation Funds); (v) the Target Growth Allocation Fund of Target Asset Allocation Funds (formerly the Strategic Partners Growth Allocation Fund of Strategic Partners Asset Allocation Funds); (vi) the Strategic Partners Large-Cap Value Fund of Strategic Partners Style Specific Funds; and (vii) and any other portfolio subadvised by X.X. Xxxxxx on behalf of ASISI and/or PI or one of their affiliates pursuant to substantially the same investment strategy.
** For purposes of calculating the advisory fee payable to X.X. Xxxxxx, the assets managed by X.X. Xxxxxx in the Target Conservative Allocation Fund of Target Asset Allocation Funds (formerly the Strategic Partners Conservative Allocation Fund of Strategic Partners Asset Allocation Funds) will be aggregated with the assets managed by X.X. Xxxxxx in: (i) AST Large-Cap Value Portfolio of American Skandia Trust; (ii) the SP Large Cap Value Portfolio of The Prudential Series Fund; (iii) Large Capitalization Value Portfolio of The Target Portfolio Trust; (iv) the Target Moderate Allocation Fund of Target Asset Allocation Funds (formerly the Strategic Partners Moderate Allocation Fund of Strategic Partners Asset Allocation Funds); (v) the Target Growth Allocation Fund of Target Asset Allocation Funds (formerly the Strategic Partners Growth Allocation Fund of Strategic Partners Asset Allocation Funds); (vi) the Strategic Partners Large-Cap Value Fund of Strategic Partners Style Specific Funds; and (vii) and any other portfolio subadvised by X.X. Xxxxxx on behalf of ASISI and/or PI or one of their affiliates pursuant to substantially the same investment strategy.
*** For purposes of calculating the advisory fee payable to X.X. Xxxxxx, the assets managed by X.X. Xxxxxx in the Target Moderate Allocation Fund of Target Asset Allocation Funds (formerly the Strategic Partners Moderate Allocation Fund of Strategic Partners Asset Allocation Funds) will be aggregated with the assets managed by X.X. Xxxxxx in: (i) AST Large-Cap Value Portfolio of American Skandia Trust; (ii) the SP Large Cap Value Portfolio of The Prudential Series Fund; (iii) Large Capitalization Value Portfolio of The Target Portfolio Trust; (iv) the Target Conservative Allocation Fund of Target Asset Allocation Funds (formerly the Strategic Partners Conservative Allocation Fund of Strategic Partners Asset Allocation Funds); (v) the Target Growth Allocation Fund of Target Asset Allocation Funds (formerly the Strategic Partners Growth Allocation Fund of Strategic Partners Asset Allocation Funds); (vi) the Strategic Partners Large-Cap Value Fund of Strategic Partners Style Specific Funds; and (vii) and any other portfolio subadvised by X.X. Xxxxxx on behalf of ASISI and/or PI or one of their affiliates pursuant to substantially the same investment strategy.
**** For purposes of calculating the advisory fee payable to X.X. Xxxxxx, the assets managed by X.X. Xxxxxx in the Target Growth Allocation Fund of Target Asset Allocation Funds (formerly the Strategic Partners Growth Allocation Fund of Strategic Partners Asset Allocation Funds) will be aggregated with the assets managed by X.X. Xxxxxx in: (i) AST Large-Cap Value Portfolio of American Skandia Trust; (ii) the SP Large Cap Value Portfolio of The Prudential Series Fund; (iii) Large Capitalization Value Portfolio of The Target Portfolio Trust; (iv) the Target Conservative Allocation Fund of Target Asset Allocation Funds (formerly the Strategic Partners Conservative Allocation Fund of Strategic Partners Asset Allocation Funds); (v) the Target Moderate Allocation Fund of Target Asset Allocation Funds (formerly the Strategic Partners Moderate Allocation Fund of Strategic Partners Asset Allocation Funds); (vi) the Strategic Partners Large-Cap Value Fund of Strategic Partners Style Specific Funds; and (vii) and any other portfolio subadvised by X.X. Xxxxxx on behalf of ASISI and/or PI or one of their affiliates pursuant to substantially the same investment strategy.
***** For purposes of calculating the advisory fee payable to X.X. Xxxxxx, the assets managed by X.X. Xxxxxx in the Strategic Partners Large-Cap Value Fund of Strategic Partners Style Specific Funds will be aggregated with the assets managed by X.X. Xxxxxx in: (i) AST Large-Cap Value Portfolio of American Skandia Trust; (ii) the SP Large Cap Value Portfolio of The Prudential Series Fund; (iii) Large Capitalization Value Portfolio of The Target Portfolio Trust; (iv) the Target Conservative Allocation Fund of Target Asset Allocation Funds (formerly the Strategic Partners Conservative Allocation Fund of Strategic Partners Asset Allocation Funds); (v) the Target Moderate Allocation Fund of Target Asset Allocation Funds (formerly the Strategic Partners Moderate Allocation Fund of Strategic Partners Asset Allocation Funds); (vi) the Target Growth Allocation Fund of Target Asset Allocation Funds (formerly the Strategic Partners Growth Allocation Fund of Strategic Partners Asset Allocation Funds); and (vii) and any other portfolio subadvised by X.X. Xxxxxx on behalf of ASISI and/or PI or one of their affiliates pursuant to substantially the same investment strategy.
****** For purposes of calculating the advisory fee payable to X.X. Xxxxxx, the assets managed by X.X. Xxxxxx in the AST Large-Cap Value Portfolio of American Skandia Trust will be aggregated with the assets managed by X.X. Xxxxxx in: (i) the SP Large Cap Value Portfolio of The Prudential Series Fund; (ii) the Large Capitalization Value Portfolio of the Target Portfolio Trust; (iii) the Target Conservative Allocation Fund of Target Asset Allocation Funds (formerly the Strategic Partners Conservative Allocation Fund of Strategic Partners Asset Allocation Funds); (iv) the Target Moderate Allocation Fund of Target Asset Allocation Funds (formerly the Strategic Partners Moderate Allocation Fund of Strategic Partners Asset Allocation Funds); (v) the Target Growth Allocation Fund of Target Asset Allocation Funds (formerly the Strategic Partners Growth Allocation Fund of Strategic Partners Asset Allocation Funds); (vi) the Strategic Partners Large-Cap Value Fund of Strategic Partners Style Specific Funds; and (vii) and any other portfolio subadvised by X.X. Xxxxxx on behalf of ASISI and/or PI or one of their affiliates pursuant to substantially the same investment strategy.
******* For purposes of calculating the advisory fee payable to X.X. Xxxxxx, the assets managed by X.X. Xxxxxx in the SP Large Cap Value Portfolio of The Prudential Series Fund will be aggregated with the assets managed by X.X. Xxxxxx in: (i) the AST Large-Cap Value Portfolio of American Skandia Trust; (ii) the Large Capitalization Value Portfolio of the Target Portfolio Trust; (iii) the Target Conservative Allocation Fund of Target Asset Allocation Funds (formerly the Strategic Partners Conservative Allocation Fund of Strategic Partners Asset Allocation Funds); (iv) the Target Moderate Allocation Fund of Target Asset Allocation Funds (formerly the Strategic Partners Moderate Allocation Fund of Strategic Partners Asset Allocation Funds); (v) the Target Growth Allocation Fund of Target Asset Allocation Funds (formerly the Strategic Partners Growth Allocation Fund of Strategic Partners Asset Allocation Funds); (vi) the Strategic Partners Large-Cap Value Fund of Strategic Partners Style Specific Funds; and (vii) and any other portfolio subadvised by X.X. Xxxxxx on behalf of ASISI and/or PI or one of their affiliates pursuant to substantially the same investment strategy.
Effective Date: January 1, 2007
