SUPPLEMENT, dated May 1, 1999, to
INVESTMENT ADVISORY AGREEMENT
Supplement made this 1st day of May, 1999, by and between Mutual of America
Capital Management Corporation, a Delaware corporation (the "Adviser"), and
Mutual of America Investment Corporation, a Maryland corporation (the
"Company"), supplementing the investment advisory agreement dated the 21st day
of April, 1993, as previously supplemented, by and between the Adviser and the
Company (the "Investment Advisory Agreement").
WITNESSETH
WHEREAS, the Company desires the Adviser to provide investment advisory services
with respect to the management of the assets of the Mid-Cap Equity Index Fund of
the Company, in the manner and on the terms hereinafter provided, and the
Adviser has agreed to provide such services.
NOW, THEREFORE, in consideration of the premises and the mutual agreements
herein contained, the Investment Advisory Agreement is hereby supplemented as
follows:
1. Engagement of Investment Advisory Services. The Company engages the Adviser
to provide investment advisory and management services for the Mid-Cap Equity
Index Fund, in the manner described in the Investment Advisory Agreement.
2. Advisory Fee. Paragraph 6 of the Investment Advisory Agreement is amended to
read in its entirety as follows:
6. Compensation. As compensation for its investment advisory services to
the Company, the Adviser shall receive an amount calculated as a daily
charge at the annual rates of .125% of the value of the net assets of the
Equity Index Fund and Mid-Cap Equity Index Fund, .25% of the value of the
net assets of the Money Market Fund, .50% of the value of the net assets of
the All America Fund, Bond Fund, Mid-Term Bond Fund, Short-Term Bond Fund
and Composite Fund, and .85% of the value of the net assets of the
Aggressive Equity Fund, respectively (computed in accordance with the
Investment Company Act and the Registration Statement).
IN WITNESS WHEREOF, the undersigned have executed this Supplement to the
Investment Advisory Agreement by their duly authorized officers as of the date
first written above.
MUTUAL OF AMERICA MUTUAL OF AMERICA
CAPITAL MANAGEMENT CORPORATION INVESTMENT CORPORATION
By_________________________________ By_________________________________
Name: Name:
Title: Title:
