EXHIBIT (D)(3)
SECOND AMENDMENT TO THE
ADVISORY AGREEMENT
This Second Amendment is entered into as of the 3rd day of May, 1999 in
order to amend the Advisory Agreement dated November 15, 1996 (the "Advisory
Agreement"), as amended November 15, 1998, by and between Kobren Insight Funds
(the "Trust") on behalf of each of the funds listed in Section 8 of the Advisory
Agreement and Kobren Insight Management, Inc. (the "Adviser").
WHEREAS, the Trust and the Adviser have entered previously into the
Advisory Agreement; and
WHEREAS, pursuant to Section 13 of the Advisory Agreement, the Trust
and the Adviser wish to amend certain provisions of said Agreement.
NOW, THEREFORE, the parties hereto agree to amend the Advisory
Agreement as follows:
1. Section 8 of the Advisory Agreement is hereby modified and
amended to delete Kobren Conservative Allocation Fund from the
names of the series as follows:
SECTION 8 SECTION 8 AS AMENDED
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Kobren Growth Fund (0.75%) Kobren Growth Fund (0.75%)
Kobren Moderate Growth Fund (0.75%) Kobren Moderate Growth Fund (0.75%)
Kobren Conservative Allocation Fund (0.75%) Kobren Delphi Value Fund (1.00%)
Kobren Delphi Value Fund (1.00%)
2. All other terms and conditions of the Advisory Agreement shall
remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed on the date set forth above.
ATTEST: KOBREN INSIGHT FUNDS
By: /s/Xxxx Xxxxx By: /s/Xxxx X. Xxxxxx
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Name: Xxxx Xxxxx Name: Xxxx X. Xxxxxx
Title: Vice President Title: President
ATTEST: KOBREN INSIGHT MANAGEMENT, INC.
By: /s/Xxxx Xxxxx By: /s/Xxxx X. Xxxxxx
---------------------- -------------------------
Name: Xxxx Xxxxx Name: Xxxx X. Xxxxxx
Title: Vice President Title: President
