SUBADVISORY AGREEMENT
AMENDMENT #1
Amendment dated June 13, 2009 (the "Amendment"), to the subadvisory
agreement dated November 7, 2008, (the "Subadvisory Agreement") between
RiverSource Investments, LLC, a Minnesota limited liability company (the
"Manager") and LaSalle Investment Management (Securities), L.P., a Maryland
limited partnership (the "Subadviser") whereby the Subadviser agreed to provide
subadvisory services to Xxxxxxxx LaSalle Global Real Estate Fund (the "Fund").
WHEREAS, the Manager wishes to reallocate the fee structure by which the
Subadviser is compensated for its services to the Fund in order to be consistent
with the pricing philosophy utilized by the Manager's other funds and reflect
more accurately how the services and responsibilities for the Fund have been
apportioned;
WHEREAS, the reallocation of the fee structure will not reduce the quality
or quantity of the services provided by the Manager or the Subadviser with
respect to the Fund;
NOW, THEREFORE, in consideration of the mutual covenants contained herein,
the parties hereto agree as follows:
That section 3 of the Subadvisory Agreement titled "Compensation" is hereby
superseded and replaced by the following:
COMPENSATION. (a) As compensation for the services performed by the Subadviser
pursuant to Section 1, the Manager will pay to the Subadviser each month a fee
computed as per the formula below:
The Subadviser will receive a fee based upon the following schedule:
ASSET LEVEL ANNUAL RATE AS PERCENT OF NET ASSETS
------------ ------------------------------------
The first $37 million .30%
Next $43 million .65%
Thereafter .49%
The asset charge for each calendar day of each year shall be equal to the total
of 1/365th (1/366th in each leap year) of the amount computed in accordance with
the fee schedule described above.
The computation shall be made for each calendar day on the basis of net assets
as of the close of the preceding day. In the case of the suspension of the
computation of net asset value, the fee for each calendar day during such
suspension shall be computed as of the close of business on the last full day on
which the net assets were computed. Net assets as of the close of a full day
shall include all transactions in shares of the Fund recorded on the books of
the Fund for that day.
Such compensation shall be paid by the Manager to the Subadviser as soon as
practicable following receipt by the Manager of its investment management fees
from the Fund (but no later than 10 business days following such receipt).
(b) If the Subadviser shall serve hereunder for less than the whole of any
month, the fee hereunder shall be prorated.
(c) Any fee payable to the Subadviser under this Agreement shall be paid to
the Subadviser or to an affiliate of the Subadviser at an address or to an
account designated by the Subadviser.
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IN WITNESS WHEREOF, the Manager and the Subadviser have caused this Amendment to
be executed by their duly authorized officers as of the date first above
written.
RIVERSOURCE INVESTMENTS, LLC
By: /s/ Xxxxxxx Xxxxxxxx
--------------------------------
Name: Xxxxxxx Xxxxxxxx
Title: Senior Vice President and
General Manager
LASALLE INVESTMENT MANAGEMENT
(SECURITIES), L.P.
BY ITS GENERAL PARTNER, LASALLE INVESTMENT MANAGEMENT(SECURITIES), INC.
By: /s/ Xxxxxxx X. Xxxxxx, Xx.
--------------------------
Name: Xxxxxxx X. Xxxxxx, Xx.
Title: Managing Director
