Exhibit 5(q)
LETTER AGREEMENT
SSgA LARGE CAP VALUE FUND
SSgA LARGE CAP GROWTH OPPORTUNITIES FUND
INVESTMENT ADVISORY AGREEMENT
August 28, 2003
Ladies and Gentlemen:
Pursuant to Paragraph 1(b) of the Investment Advisory Agreement between the SSgA
Funds and SSgA Funds Management, Inc., dated May 1, 2001, the SSgA Funds advise
you that it is creating a two new series to be named SSgA Large Cap Value Fund
and SSgA Large Cap Growth Opportunities Fund (the "Funds"), and that the SSgA
Funds desire SSgA Funds Management, Inc. to serve as investment advisor with
respect to the each Fund pursuant to the terms and conditions of the Investment
Advisory Agreement. Each Fund will be charged a fee by the Advisor for its
investment advisory services, as reflected in the attached Exhibit A.
Notwithstanding anything to the contrary in Paragraph 10(a), the initial term of
the Investment Advisory Agreement with respect to the Fund shall be until April
12, 2004.
Please acknowledge your acceptance of acting as advisor to the Funds by
executing this letter agreement in the space provided below and then returning
it to the undersigned.
Sincerely,
By: /s/ Xxxx X. Xxxxxxxx
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Xxxx X. Xxxxxxxx
President
ACKNOWLEDGED AND ACCEPTED
SSgA Funds Management, Inc.
By:
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Its:
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AMENDED
EXHIBIT "A"
August 28, 2003
As consideration for the Advisor's services to the following Funds, the Advisor
shall receive from each of these Funds an annual advisory fee, accrued daily at
the rate of 1/365th of the applicable advisory fee rate and payable monthly on
the first business day of each month, of the following annual percentages of
each Portfolio's average daily net assets during the month:
SSgA Money Market Fund 0.25%
SSgA US Government Money Market Fund 0.25%
SSgA S&P 500 Index Fund 0.03%*
SSgA Disciplined Equity Fund 0.25%
SSgA MSCI EAFE Index Fund 0.10%*
SSgA Bond Market Fund 0.30%
SSgA Yield Plus Fund 0.25%
SSgA US Treasury Money Market Fund 0.10%**
SSgA US Treasury Obligations Fund 0.25%
SSgA Core Opportunities Fund 0.75%
SSgA Intermediate Fund 0.30%***
SSgA Prime Money Market Portfolio 0.10%**
SSgA Emerging Markets Fund 0.75%
SSgA Tax Free Money Market Fund 0.25%
SSgA Tuckerman Active REIT Fund 0.65%
SSgA Small Cap Fund 0.75%
SSgA International Stock Selection Fund 0.75%
SSgA Life Solutions Income and Growth Fund 0.00%
SSgA Life Solutions Balanced Fund 0.00%
SSgA Life Solutions Growth Fund 0.00%
SSgA Special Equity Fund 0.75%
SSgA International Growth Opportunities Fund 0.75%
SSgA High Yield Bond Fund 0.30%
SSgA Aggressive Equity Fund 0.75%
SSgA IAM SHARES Fund 0.25%
SSgA Intermediate Municipal Bond Fund 0.30%
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* Only in the event the assets of the Fund are no longer invested in the
Master Fund.
** Pursuant to a contractual waiver until 12/31/2003.
*** Pursuant to a contractual waiver until 12/31/2010.
