THE MAINSTAY FUNDS AMENDMENT TO THE AMENDED AND RESTATED SUBADVISORY AGREEMENT
Exhibit
d 2 (o)
THE
MAINSTAY FUNDS
AMENDMENT
TO THE AMENDED AND RESTATED SUBADVISORY AGREEMENT
This
Amendment to the Amended and Restated Subadvisory Agreement, is made as of the
1st
day of August 2010, between New York Life Investment Management LLC, (the
“Manager”) and MacKay Xxxxxxx LLC, (the Subadvisor”).
WHEREAS, the Manager and the
Subadvisor are parties to an Amended and Restated Subadvisory Agreement, dated
August 1, 2008 as amended (the “Subadvisory Agreement”); and
WHEREAS, the parties hereby
wish to amend the Subadvisory Agreement to reflect a revisions to the
subadvisory fee for MainStay High Yield Corporate Bond Fund.
NOW, THEREFORE, the parties
agree as follows:
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(i)
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Effective
August 1, 2010, Schedule A is hereby amended by deleting it in its
entirety and replacing it with the Schedule attached
hereto.
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IN WITNESS WHEREOF, the
parties have caused this Amendment to be executed by their duly authorized
officers and attested effective as of the date first written above.
NEW
YORK LIFE INVESTMENT MANAGEMENT LLC
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Attest:
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/s/
Xxxxx X. Xxxx
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By:
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/s/
Xxxxxxx X. Xxxxxx
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Name:
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Xxxxx
X. Xxxx
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Name:
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Xxxxxxx
X. Xxxxxx
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Title:
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Vice
President & Assistant
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Title:
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Senior
Managing Director
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General
Counsel
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MACKAY
XXXXXXX LLC
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Attest:
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/s/ Xxxxx Xxxxxxx
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By:
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/s/ Xxxxxxx Xxxxxx
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Name:
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Xxxxx
Xxxxxxx
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Name:
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Xxxxxxx
Xxxxxx
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Title:
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Senior
Managing Director and General
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Title:
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Acting
Chief Executive Officer
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Counsel
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SCHEDULE
A
(As of
August 1, 2010)
As
compensation for services provided by Subadvisor the Manager will pay the
Subadvisor and Subadvisor agrees to accept as full compensation for all services
rendered hereunder, at an annual subadvisory fee equal to the
following:
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FUND
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ANNUAL RATE
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Convertible
Fund *
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0.300%
up to $500 million;
0.275%
from $500 million to $1 billion; and
0.250%
in excess of $1 billion
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Diversified
Income Fund *
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0.300%
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Global
High Income Fund *
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0.350%
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Government
Fund *
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0.300%
up to $1 billion; and
0.275%
in excess of $1 billion
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High
Yield Corporate Bond Fund
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0.300%
up to $500 million;
0.275%
from $500 million to $5 billion
0.2625%
from $5 billion to $7 billion; and
0.250%
in excess of $7 billion
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Income
Builder Fund*,
(Formerly
Total Return Fund)
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0.320%
up to $500 million; and
0.300%
in excess of $500 million**
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International
Equity Fund *
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0.600%
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Tax
Free Bond Fund *
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0.250%
up to $500 million;
0.2375%
from $500 million to $1 billion; and
0.225%
in excess of $1 billion
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The
portion of the fee based upon the average daily net assets of the respective
Fund shall be accrued daily at the rate of 1/(number of days in calendar year)
of the annual rate applied to the daily net assets of the Fund.
Payment
will be made to the Subadvisor on a monthly basis.
* For
certain Funds listed above, the Manager has agreed to waive a portion of each
Fund’s management fee or reimburse the expenses of the appropriate class of the
Fund so that the class’ total ordinary operating expenses do not exceed certain
amounts. These waivers or expense limitations may be changed with
Board approval. To the extent the Manager has agreed to waive its
management fee or reimburse expenses,
MacKay Xxxxxxx, as Subadvisor for these Funds, has voluntarily agreed to waive
or reimburse its fee proportionately.
**MacKay
Xxxxxxx manages the fixed income portion of the Income Builder Fund (formerly
Total Return Fund). The annual rate is based on the percentage of
MacKay Xxxxxxx’ Allocated Assets constituting the Series’ average daily net
assets.
