Exhibit (5)(b)
SUPPLEMENT TO INVESTMENT ADVISORY AGREEMENT
March 2, 1993
The Glenmede Trust Company
000 Xxxxx 00xx Xxxxxx
Xxxxxxxxxxxx, Xxxxxxxxxxxx 00000
This letter is to confirm that the undersigned, The Glenmede
Portfolios, a Massachusetts business trust (the "Company"), and The Glenmede
Trust Company, a Pennsylvania trust company (the "Advisor") have agreed that the
Advisory Agreement between the Company and the Advisor dated June 5, 1992 (the
"Agreement"), is herewith amended to provide that the Advisor shall be the
advisor for the New Jersey Muni and Maryland Muni Portfolios on the terms and
conditions contained in the Agreement.
If the foregoing is in accordance with your understanding,
kindly indicate your acceptance of this Supplement by signing and returning the
enclosed copy of this Supplement.
Very truly yours,
THE GLENMEDE PORTFOLIOS
By: /s/Xxxx X. Xxxxxx, Xx.
------------------------
Xxxx X. Xxxxxx, Xx.
President
Accepted and Agreed to:
THE GLENMEDE TRUST COMPANY
By: /s/Xxxx Xxx X. Xxxxx
----------------------------
Authorized Signature
