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EXHIBIT (d)(i)(D)
SUPPLEMENTAL TERMS AND CONDITIONS OF
THE MANAGEMENT AGREEMENT BETWEEN
THE AMERICAN AADVANTAGE FUNDS
AND
AMR INVESTMENT SERVICES, INC.
The following terms and conditions hereby are incorporated into the
Management Agreement dated April 3, 1987, as supplemented on August 1, 1994
("Agreement"), between American AAdvantage Funds (the "Trust") and AMR
Investment Services, Inc. (the "Manager") on behalf of the American AAdvantage
Balanced Fund, the American AAdvantage Growth and Income Fund, the American
AAdvantage International Equity Fund, the American AAdvantage Limited-Term
Income Fund, the American AAdvantage Money Market Fund, the American AAdvantage
Municipal Money Market Fund, the American AAdvantage U.S. Treasury Money Market
Fund and such other portfolios of the Trust as the Trust and the Manager may
hereafter agree upon (each a "Fund" and collectively, the "Funds"). To the
extent that there is any conflict between the terms of the Agreement and these
Supplemental Terms and Conditions ("Supplement"), this Supplement shall govern.
1. Paragraph 6 of the Management Agreement is hereby amended, in its
entirety, by replacing paragraph 6 with the following:
6. Compensation of the Manager. In consideration of the Manager's
services as specified in this Agreement, the Manager shall receive an
advisory fee as specified in the Schedule(s) attached hereto. This
advisory fee constitutes the Manager's compensation solely with respect
to the investment advisory and portfolio allocation services performed
pursuant to Paragraphs 2(B) and 3 of this Agreement. To the extent that
a Fund invests all of its investable assets (i.e., securities and cash)
in another registered investment company, however, no portion of the
advisory fee attributable to that Fund as specified in the Schedule(s)
attached hereto shall be paid for the period that such Fund's assets
are so invested. In addition, the Trust agrees to pay to the Manager an
administrative fee pursuant to the Administrative Services Agreement.
The Trust and the Manager each acknowledge that this administrative fee
represents the Manager's compensation for all services performed under
this Agreement other than the investment advisory and portfolio
allocation services specified in Paragraphs 2(B) and 3.
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2. Notice is hereby given that the Management Agreement and this
Supplement are executed on behalf of the Trustees of the Trust and not
individually and that the obligations of the Agreement and Supplement are not
binding upon any of the Trustees, officers, or shareholders of the Trust
individually, but are binding only upon the assets and property of the Fund to
which the Agreement and this Supplement relate.
Dated: November 1, 1995
AMERICAN AADVANTAGE FUNDS
By:
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Title:
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AMR INVESTMENT SERVICES, INC.
By:
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Title:
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