Exhibit (5)(c)
AMENDMENT NO. 1
TO THE INVESTMENT ADVISORY AGREEMENT
The Investment Advisory Agreement dated June 5, 1992 between
THE GLENMEDE PORTFOLIOS, a Massachusetts business corporation (the "Company"),
and The Glenmede Trust Company, a Pennsylvania corporation (the "Advisor") is
hereby amended as follows:
The first sentence of Section 10, Duration and Termination, is
amended by the addition of the phrase "ending October 31 of each year" following
the words "for periods of one year".
The execution and delivery of this Amendment have been
authorized by the Company's Board of Trustees and signed by an authorized
officer of the Company, acting as such, and neither such authorization by such
Trustees nor such execution and delivery by such officer shall be deemed to have
been made by any of them individually or to impose any liability on any of them
personally, but shall bind only the trust property of the Company as provided in
its Master Trust Agreement filed with the Commonwealth of Massachusetts on March
3, 1992.
IN WITNESS WHEREOF, intending to be legally bound hereby, the
parties hereto have caused this amendment to be executed as of this 13th day of
September 1994.
ATTEST: THE GLENMEDE PORTFOLIOS
By: /s/Xxxx Xxx X. Xxxxx By: /s/Xxxx X. Xxxxxx, Xx.
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Title: Exec. Vice President Title: Chairman of the Board
THE GLENMEDE TRUST COMPANY
By: /s/Xxxx X. Xxxxx By: /s/Xx X. Xxxxxxx
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Title: Corporate Secretary Title: Executive Vice President
