AMENDMENT TO SUB-ADVISORY AGREEMENT
This Amendment to the Sub-Advisory Agreement, dated August 6, 2004 (the
"Agreement"), by and between Pioneer Investment Management, Inc. (the "Adviser")
and Ibbotson Associates Advisors, LLC (the "Sub-Adviser") is effective as of May
12, 2005.
WITNESSETH:
WHEREAS, pursuant to the terms of Agreement, the Adviser serves as
investment manager to series (each a "Fund") of Pioneer Ibbotson Asset
Allocation Series (the "Trust") and the Sub-Adviser acts as investment
sub-adviser of each Fund;
WHEREAS, the Adviser and Sub-Adviser desire to amend the Agreement to add
an additional Fund to Annex A of the Agreement;
NOW THEREFORE, in consideration of the mutual promises set forth below, the
Adviser and the Sub-Adviser hereby agree to amend the Agreement as follows:
Annex A of the Agreement is hereby replaced in its entirety with the new
Annex A attached hereto.
Except as provided herein, the terms and conditions contained in the
Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, this Amendment to the Agreement has been executed by a
duly authorized representative of each of the parties hereto as of the date of
the Amendment first set forth above.
PIONEER INVESTMENT MANAGEMENT, INC.
/s/ Xxxxxxx X. Xxxxx
By: Xxxxxxx X. Xxxxx
Title: Director of Portfolio Management
IBBOTSON ASSOCIATES ADVISORS, LLC
By: /s/ Xxxxxxx Xxxxx
Name: Xxxxxxx Xxxxx
Title: Managing Director
Annex A
(As amended on May 12, 2005)
Pioneer Ibbotson Moderate Allocation Fund
Pioneer Ibbotson Growth Allocation Fund
Pioneer Ibbotson Aggressive Allocation Fund
Pioneer Ibbotson Conservative Allocation Fund
