Loomis, Sayles & Company, L.P. One Financial Center Boston, MA 02111

Exhibit (d)(5)(ii)

Xxxxxx, Xxxxxx & Company, L.P.

Xxx Xxxxxxxxx Xxxxxx

Xxxxxx, XX 00000

July 1, 2014

Xxxxxx Xxxxxx Funds I

Xxxxxx Xxxxxx Bond Fund

000 Xxxxxxxx Xxxxxx

Xxxxxx, XX 00000

Attn: Xxxxxx Xxxxx Xxxxxxx, Secretary

Re: Xxxxxx Xxxxxx Bond Fund Advisory Agreement Addendum

Dear Xx. Xxxxxxx:

The Advisory Agreement dated September 12, 2003 between Xxxxxx Xxxxxx Funds I (the “Trust”), with respect to its Xxxxxx Xxxxxx Bond Fund (the “Series”), and Xxxxxx, Xxxxxx & Company, L.P. (the “Adviser”) is hereby revised, effective July 1, 2014, to delete Section 7 and to replace it with the following:

7. As full compensation for all services rendered, facilities furnished and expenses borne by the Adviser hereunder, the Trust shall pay the Adviser compensation at the annual percentage rate of 0.60% of the first $3 billion of the average daily net assets of the Series, 0.50% of the next $12 billion of such assets, 0.49% of the next $10 billion of such assets and 0.48% over $25 billion of such assets, respectively, or such lesser rate as the Adviser may agree to from time to time. Such compensation shall be payable monthly in arrears or at such other intervals, not less frequently than quarterly, as the Board of Trustees of the Trust may from time to time determine and specify in writing to the Adviser. The Adviser hereby acknowledges that the Trust’s obligation to pay such compensation is binding only on the assets and property belonging to the Series.

To indicate your approval and acceptance of the terms of this letter, please sign below where indicated.

Xxxxxx, Xxxxxx & Company, L.P.

By: Xxxxxx, Xxxxxx & Company, Inc., its general partner

By:		/s/ Xxxxxx Xxxxxxx
Name:		Xxxxxx Xxxxxxx
Title:		Vice President

ACCEPTED AND AGREED TO:

Xxxxxx Xxxxxx Funds I, on behalf of

Xxxxxx Xxxxxx Bond Fund

By:		/s/ Xxxxxx Xxxxx Xxxxxxx
		Xxxxxx Xxxxx Xxxxxxx
Title:		Secretary
Date:		7/1/14

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