THE DFA INVESTMENT TRUST COMPANY DFA SHORT TERM INVESTMENT FUND INVESTMENT ADVISORY AGREEMENT
THE DFA INVESTMENT TRUST
COMPANY
DFA SHORT TERM INVESTMENT
FUND
AGREEMENT made this ____ day
of ____________, 2009, by and between THE DFA INVESTMENT TRUST
COMPANY, a Delaware statutory trust (the “Fund”), and DIMENSIONAL FUND ADVISORS LP,
a Delaware limited partnership (the “Advisor”).
1. Duties of
Advisor. The Fund hereby employs the Advisor to manage the
investment and reinvestment of the assets of the DFA Short Term Investment Fund
(the “Series”), to continuously review, supervise, and administer the Series’
investment program, to determine in its discretion the securities to be
purchased or sold and the portion of the Series’ assets to be uninvested, to
provide the Fund with records concerning the Advisor’s activities that the Fund
is required to maintain; and to render regular reports to the Fund’s officers
and the Board of Trustees of the Fund, all in compliance with the objectives,
policies, and limitations set forth in the Series’ registration statement and
applicable laws and regulations. The Advisor accepts such employment
and agrees to provide, at its own expense, the office space, furnishings and
equipment, and the personnel required by it to perform the services described
herein on the terms and for the compensation provided herein.
2. Portfolio
Transactions. The Advisor is authorized to select the brokers
or dealers that will execute the purchases and sales of portfolio securities for
the Series and is directed to use its best effort to obtain the best available
prices and most favorable executions, except as prescribed herein. It
is understood that the Advisor will not be deemed to have acted unlawfully, or
to have breached a fiduciary duty to the Fund or to the Series, or be in breach
of any obligation owing to the Fund or to the Series under this Agreement, or
otherwise, solely by reason of its having caused the Series to pay a member of a
securities exchange, a broker, or a dealer a commission for effecting a
securities transaction for the Series in excess of the amount of commission
another member of an exchange, broker, or dealer would have charged if the
Advisor determines in good faith that the commission paid was reasonable in
relation to the brokerage or research services provided by such member, broker,
or dealer, viewed in terms of that particular transaction or the Advisor’s
overall responsibilities with respect to its accounts, including the Fund, as to
which it exercises investment discretion. The Advisor will promptly
communicate to the officers and trustees of the Fund such information relating
to transactions for the Series as they may reasonably request.
3. Compensation of the
Advisor. For the services to be rendered by the Advisor as
provided in Section 1 of this Agreement, the Fund shall pay to the Advisor, at
the end of each month, a fee equal to one-twelfth of 0.05% of the Series’ net
assets. In the event that this Agreement is terminated at other than
a month-end, the fee for such month shall be prorated, as
applicable.
4. Other Services. At
the request of the Fund, the Advisor, in its discretion, may make available to
the Fund office facilities, equipment, personnel, and other
services. Such office facilities, equipment, personnel, and services
shall be provided for or rendered by the Advisor and billed to the Fund at the
Advisor’s cost and, where applicable, the cost thereof shall be apportioned
among the several Series of the Fund proportionate to their respective
utilization thereof.
5. Reports. The Fund
and the Advisor agree to furnish to each other information with regard to their
respective affairs as each may reasonably request.
6. Status of the
Advisor. The services of the Advisor to the Fund, or with
respect to the Series, are not to be deemed exclusive, and the Advisor shall be
free to render similar services to others, as long as its services to the Fund
or to the Series are not impaired thereby. The Advisor shall be
deemed to be an independent contractor and, unless otherwise expressly provided
or authorized, shall have no authority to act for or represent the Fund in any
way, or otherwise be deemed an agent of the Fund.
7. Liability of
Advisor. No provision of this Agreement shall be deemed to
protect the Advisor against any liability to the Fund or the shareholders of the
Series to which it might otherwise be subject by reason of willful misfeasance,
bad faith, or gross negligence in the performance of its duties or the reckless
disregard of its obligations under this Agreement.
8. Permissible
Interests. Subject to and in accordance with the charters of
the Fund and the Advisor, respectively, trustees, officers, and shareholders of
the Fund are or may be interested in the Advisor (or any successor thereof) as
trustees, officers, or shareholders, or otherwise; trustees, officers, agents,
and shareholders of the Advisor are or may be interested in the Fund as
trustees, officers, shareholders, or otherwise; and the Advisor (or any
successor) is or may be interested in the Fund as a shareholder or otherwise and
the effect of any such interrelationships shall be governed by said charters and
the provisions of the Investment Company Act of 1940, as amended (the “1940
Act”).
9. Duration and
Termination. This Agreement shall become effective on
December __, 2009 (the “Effective Date”) and shall continue in effect until
December __, 2011, and thereafter, only if such continuance is approved at
least annually by a vote of the Fund’s Board, including the vote of a majority
of the trustees who are not parties to this Agreement or interested persons of
any such party, cast in person, at a meeting called for the purpose of voting
such approval. In addition, the question of continuance of this
Agreement may be presented to the shareholders of the Fund; in such event, such
continuance shall be effected only if approved by the affirmative vote of the
holders of a majority of the respective outstanding voting securities of the
Series.
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This
Agreement may at any time be terminated without payment of any penalty either by
vote of the Board of Trustees of the Fund or by vote of the holders of a
majority of the respective outstanding voting securities of the Series, on
sixty- (60) days’ written notice to the Advisor.
This
Agreement shall automatically terminate in the event of its
assignment.
This
Agreement may be terminated by the Advisor after ninety- (90) days’ written
notice to the Fund.
Any
notice under this Agreement shall be given in writing, addressed and delivered,
or mailed post-paid, to the other party at any office of such
party.
As used
in this section, the terms “assignment,” “interested persons,” and a “vote of
the holders of majority of the outstanding securities” shall have the respective
meanings set forth in Section 2(a)(4), Section 2(a)(19), Section 2(a)(42) of the
1940 Act and Rule 18f-2 thereunder.
10. Severability. If
any provision of this Agreement shall be held or made invalid by a court
decision, statute, rule, or otherwise, the remainder of this Agreement shall not
be affected thereby.
IN WITNESS WHEREOF, the
parties hereby have caused this Agreement to be executed this ____ day of
December, 2009.
DIMENSIONAL
FUND ADVISORS LP
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THE
DFA INVESTMENT TRUST COMPANY
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By:DIMENSIONAL
HOLDINGS INC., General Partner
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By:
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By:
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Name
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Name
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Title
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Title
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