ECLIPSE FUNDS AMENDMENT TO THE SUBADVISORY AGREEMENT
Exhibit (d)(2)(a)
ECLIPSE FUNDS
AMENDMENT TO THE SUBADVISORY AGREEMENT
This Amendment (the “Amendment”) to the Subadvisory Agreement is made as of the 31st day of January, 2009, by and between New York Life Investment Management LLC, a Delaware limited liability company (the “Manager”) and Madison Square Investors LLC, a Delaware limited liability company (the “Subadvisor”).
WHEREAS, the parties hereto have entered into a Subadvisory Agreement (the “Agreement”) dated as of January 1, 2009;
NOW, THEREFORE, for good and adequate consideration, the receipt of which is hereby acknowledged, the parties hereto agree to amend the Agreement as follows:
1. |
Schedule A of the Agreement is hereby deleted in its entirety and replaced with the attached Schedule A, which reflects the removal of the MainStay Small Cap Opportunity Fund from the Schedule. |
IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first written above.
NEW YORK LIFE INVESTMENT MANAGEMENT LLC
By: /s/ Xxxxx X. Xxxxx
Name: Xxxxx X. Xxxxx
Title: Executive Vice President
MADISON SQUARE INVESTORS LLC
By: /s/ Xxxx Xxxxxx
Name: Xxxx Xxxxxx
Title: Chief Executive Officer
SCHEDULE A
(As of January 31, 2009)
For all services rendered by the Manager hereunder, each Fund of the Trust shall pay the Manager and the Manager agrees to accept as full compensation for all services rendered hereunder, at annual fee equal to the following:
FUND NAME |
ANNUAL RATE |
Balanced Fund * |
0.700% up to $1 billion; |
Mid Cap Core Fund * |
0.850% |
The portion of the fee based upon the average daily net assets of the respective Fund shall be accrued daily at the rate of 1/(number of days in calendar year) of the annual rate applied to the daily net assets of the Fund.
Payment will be made to the Subadvisor on a monthly basis.
* For certain Funds listed above, NYLIM has agreed to waive a portion of each Fund’s management fee or reimburse the expenses of the appropriate class of the Fund so that the class’ total ordinary operating expenses do not exceed certain amounts. These waivers or expense limitations may be changed with Board approval. To the extent NYLIM has agreed to waive its management fee or reimburse expenses, Madison Square Investors LLC, as Subadvisor for these Funds, has voluntarily agreed to waive or reimburse its fee proportionately.