AXA PREMIER VIP TRUST AMENDMENT NO. 1 SECOND AMENDED AND RESTATED INVESTMENT ADVISORY AGREEMENT
Exhibit (d)(18)(iii)
AMENDMENT NO. 1
SECOND AMENDED AND RESTATED
AMENDMENT NO. 1 to the Second Amended and Restated Investment Advisory Agreement dated as of July 1, 2008 (“Amendment No. 1”), between AXA Equitable Life Insurance Company, a New York corporation (“AXA Equitable” or “Manager”) and Pacific Investment Management Company LLC, a Delaware limited liability company (the “Adviser”).
WHEREAS, AXA Equitable and the Adviser have entered into a Second Amended and Restated Investment Advisory Agreement, dated as of July 31, 2006 (“Agreement”) on behalf of the AXA Premier VIP Trust (“Trust”); and
WHEREAS, AXA Equitable and the Adviser desire to modify the fee payable to the Adviser for investment advisory and other services the Adviser provides to a portion of the Multimanager Core Bond Portfolio that has been allocated to the Adviser and to reflect changes in the names of certain Portfolios of the Trust.
NOW, THEREFORE, AXA Equitable and Adviser agree to modify the Agreement as follows:
1. Name Change. The name of the AXA Premier VIP Core Bond Portfolio is changed to the Multimanager Core Bond Portfolio and the name of the AXA Premier VIP High Yield Portfolio is changed to the Multimanager High Yield Portfolio.
2. Appendix A. Appendix A to the Agreement setting forth the Portfolios of the Trust for which the Adviser is appointed as the investment adviser and the fee payable to the Adviser with respect to each Portfolio is hereby replaced in its entirety by Appendix A attached hereto.
3. Ratification. Except as modified and amended hereby, the Agreement is hereby ratified and confirmed in full force and effect in accordance with its terms.
IN WITNESS WHEREOF, the parties have executed and delivered this Amendment No. 1 as of the date first set forth above.
AXA EQUITABLE LIFE INSURANCE COMPANY | PACIFIC INVESTMENT MANAGEMENT COMPANY LLC | |||||
By: | /s/ Xxxxxx X. Xxxxx |
By: | /s/ Xxxxx X. Xxxxxx | |||
Xxxxxx X. Xxxxx | Name: | Xxxxx X. Xxxxxx | ||||
Senior Vice President | Title: | Managing Director |
APPENDIX A
TO
WITH
PACIFIC INVESTMENT MANAGEMENT COMPANY LLC
Portfolio |
Annual Advisory Fee Rate** | |
Multimanager High Yield Portfolio* | 0.25% of the PIMCO Allocated Portion’s average daily net assets. | |
Should Aggregate Assets (as defined below) be at $3 billion or above, the following fee schedule shall apply to the following Fund: | ||
Multimanager Core Bond Portfolio* | 0.25% of the PIMCO Allocated Portion’s average daily net assets up to and including $1 billion; and 0.225 of the PIMCO Allocated Portion’s average daily net assets above $1 billion. | |
Should such Aggregate Assets fall below $3 billion, the following fee schedule shall apply to the following Fund: | ||
Fund |
Annual Advisory Fee Rate** | |
Multimanager Core Bond Portfolio* | 0.25% of the PIMCO Allocated Portion’s average daily net assets |
“Aggregate Assets” shall mean assets managed by Adviser, on behalf of the Manager, in all sub advised, non-pooled accounts, excluding assets held in PIMCO Funds Variable Insurance Trust, PIMCO Funds or private pooled funds such as PIMCO Absolute Return Strategy Offshore Fund Ltd. and PIMCO Global Credit Opportunity Offshore Fund Ltd.
* | Fee to be paid with respect to each Fund shall be based only on the portion of the Fund’s average daily net assets advised by the Adviser, which may be referred to as the “PIMCO Allocated Portion.” |
** | The daily advisory fee for each PIMCO Allocated Portion is calculated by multiplying the aggregate net assets of the PIMCO Allocated Portion at the close of the immediately preceding business day by the applicable annual Advisory Fee Rate calculated as set forth above and then dividing the result by the number of days in the year. |