AMENDMENT TO
INVESTMENT MANAGEMENT AGREEMENT
This Amendment dated as of March 1, 2008, is to the Investment Management
Agreement made as of the 30th day of October, 1992 and amended and restated as
of the 25th day of February, 1994 and the 23rd day of November, 1995, and
amended as of the 1st day of May, 2004 (the "Agreement") by and between
Xxxxxxxxx Asset Management Ltd., a U.S. registered investment adviser and a
corporation organized under the laws of Singapore (the "Manager") and Xxxxxxxxx
Developing Markets Trust (the "Fund").
WITNESSETH:
WHEREAS, both the Manager and the Fund wish to amend Paragraph 4 of the
Agreement; and
WHEREAS, the Board of Trustees of the Fund, including a majority of the
Independent Trustees of the Fund present in person, approved the following
amendment at a meeting called for such purpose on February 25, 3008.
NOW, THEREFORE, in consideration of the foregoing premises, the parties
hereto agree as follows:
The Fund agrees to pay to the Manager a monthly fee in dollars, at the
annual rate of the Fund's daily net assets, as listed below, payable at the end
of each calendar month:
1.25%, up to and including $1 billion
1.20% over $1 billion, up to and including $5 billion
1.15% over $5 billion, up to and including $7.5 billion
1.125% over $7.5 billion, up to and including $10 billion
1.10% over $10 billion, up to and including $15 billion
1.05% over $15 billion, up to and including $20 billion
1.00% over $20 billion
IN WITNESS WHEREOF, this Amendment has been executed on behalf of each
party as of the date set forth above.
XXXXXXXXX ASSET MANAGEMENT LTD.
By:/s/XXXXXXX X. XXXXXXX
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Xxxxxxx X. XxXxxxx
Director
XXXXXXXXX DEVELOPING MARKETS TRUST
By: /s/XXXXXX X. XXXXXXXX
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Xxxxxx X. Xxxxxxxx
Secretary
