MAINSTAY FUNDS TRUST AMENDMENT TO THE SUBADVISORY AGREEMENT
AMENDMENT TO THE SUBADVISORY AGREEMENT
This Amendment to the Subadvisory Agreement, is made as of the 28th day of February 2013 (the “Amendment”), between New York Life Investment Management LLC, a Delaware limited liability company (the “Manager”) and Cornerstone Capital Management Holdings LLC, a Delaware limited liability company (the “Subadvisor”).
WHEREAS, the Manager and the Subadvisor are parties to a Subadvisory Agreement, dated February 26, 2010, as amended (the “Agreement”); and
WHEREAS, effective January 25, 0000, Xxxxxxx Xxxxxx Investors LLC changed its name to Cornerstone Capital Management Holdings LLC; and
WHEREAS, the Manager and Subadvisor hereby wish to amend the Agreement to reflect the Subadvisor’s new name; and
WHEREAS, the parties hereby also wish to amend Schedule A of the Agreement to reflect (i) name changes with respect to certain Funds; and (ii) the removal of MainStay Growth Equity Fund due to that Fund’s reorganization into MainStay Cornerstone Growth Fund as of January 18, 2013, a new fund subadvised by Cornerstone Capital Management LLC.
NOW, THEREFORE, the parties agree as follows:
(i) | The Agreement is hereby amended to reflect the name change from Madison Square Investors LLC to Cornerstone Capital Management Holdings LLC; and |
(ii) | 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 executed this Amendment to be effective as of the date first written above.
NEW YORK LIFE INVESTMENT MANAGEMENT LLC
Attest: | /s/ Xxxxx X. Xxxx | By: | /s/ Xxxxxxx X. Xxxxxx |
Name: | Xxxxx X. Xxxx | Name: | Xxxxxxx X. Xxxxxx |
Title: | Director & Associate | Title: | Senior Managing Director |
General Counsel |
CORNERSTONE CAPITAL MANAGEMENT HOLDINGS LLC
Attest: | /s/ Xxxxx Xxxxxxxxx | By: | /s/ Xxxxxx X. Xxxxx |
Name: | Xxxxx Xxxxxxxxx | Name: | Xxxxxx X. Xxxxx |
Title: | SVP | Title: | CEO |
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SCHEDULE A
(Revised as of February 28, 2013)
As compensation for services provided by Subadvisor with respect to each of the following Series the Manager will pay the Subadvisor and Subadvisor agrees to accept as full compensation for services rendered hereunder, an annual subadvisory fee with respect to such Series equal to the following:
FUND | ANNUAL RATE |
MainStay Balanced Fund* |
0.350% on all assets up to $1 billion; 0.325% from $1 billion to $2 billion; and 0.300% in excess of $2 billion |
MainStay S&P 500 Index Fund * | 0.125% on all assets up to $1 billion; 0.1125% from $1 billion to $2 billion; 0.1075% from $2 billion to $3 billion; and 0.100% in excess of $3 billion |
MainStay International Opportunities Fund* (Formerly 130/30 International Fund) | 0.550% |
MainStay U.S. Equity Opportunities Fund* (Formerly 130/30 Core Fund) | 0.500% |
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, Cornerstone Capital Management Holdings LLC, as Subadvisor for these Funds, has voluntarily agreed to waive or reimburse its fee proportionately.