Exhibit (d)(24)
ALLEGIANT FUNDS
SECOND AMENDMENT TO INVESTMENT ADVISORY AGREEMENT
This SECOND AMENDEMENT TO INVESTMENT ADVSORY AGREEMENT (the "First
Amendment") dated as of May 16, 2006, by and between ALLEGIANT FUNDS, a
Massachusetts business trust, located in King of Prussia, Pennsylvania (the
"Trust") and ALLEGIANT ASSET MANAGEMENT COMPANY, located in Cleveland, Ohio (the
"Adviser").
The parties hereby agree that in the Advisory Agreement dated April 9,
1998, with respect to the Trust's International Equity, Small Cap Value, Small
Cap Growth, Equity Index, Real Return Advantage, Tax Managed Equity, Balanced
Allocation and Ohio Municipal Money Market Funds (the "Investment Advisory
Agreement"):
1. NAME OF PORTFOLIOS. All references to the Small Cap Value, Equity
Index Funds in the Investment Advisory Agreement shall be deemed to refer to the
Multi-Factor Small Cap Value, S&P 500 Index Funds, respectively. All references
to the Tax Managed Equity Fund and Real Return Advantage Fund shall be deleted.
3. COMPENSATION. The first paragraph of Section 8 of the Investment
Advisory Agreement is amended and restated in its entirety to read as follows:
"8. COMPENSATION. For services provided and the expenses assumed
pursuant to this Agreement, the Trust will pay the Adviser from the assets
belonging to the Funds and the Adviser will accept as full compensation
therefore fees, computed daily and paid monthly, at the following rates: 1.15%
of the average daily net assets of the International Equity Fund; 1.00% of the
average daily net assets of each of the Multi-Factor Small Cap Value Fund and
the Small Cap Growth Fund of $0 to less than $500 million; 0.95% of the average
daily net assets of each Fund of $500 to less than $1 billion; and 0.90% of the
average daily net assets of each Fund of $1 billion and over; 0.35% of the
average daily net assets of the S&P 500 Index Fund; 0.20% of the average daily
net assets of the Ohio Municipal Money Market Fund; and 0.75% of the average
daily net assets of the Balanced Allocation Fund."
4. DEFINITIONS. Unless otherwise defined herein, all capitalized terms
used in this Second Amendment shall have their respective defined meanings
ascribed to them in the Investment Advisory Agreement.
5. MISCELLANEOUS. Except to the extent expressly amended by this Second
Amendment, the Investment Advisory Agreement shall remain unchanged and in full
force and effect. References therein to "this Agreement," "hereby," "herein,"
and the like shall be deemed to refer to the Investment Advisory Agreement, as
amended by this Second Amendment. This Second Amendment may be executed in two
or more counterparts, each of which shall be deemed an original, and all of
which together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the parties hereto have caused this instrument to
be executed by their officers designated below as of the day and year first
above written.
ALLEGIANT FUNDS
By: /s/ Xxxxxxxx X. Xxxx
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Title: Chief Administrative Officer
ALLEGIANT ASSET MANAGEMENT COMPANY
By: /s/ Xxxxxx X. Xxxxx
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Title: Managing Director
