EXHIBIT (d)
Investment Management Agreement
Amended
EXHIBIT A
to
INVESTMENT MANAGEMENT AGREEMENT
ANNUAL MANAGEMENT FEE
FUND EFFECTIVE DATE (as % of average daily net assets)
---- -------------- ----------------------------------
Sit International Growth Fund (Series A) November 1, 1992 1.85% (1)
Sit Balanced Fund (Series B) December 31, 1993 1.00% (1)
Sit Developing Markets Fund (Series C) March 31, 1994 2.00% (1)
Sit Small Cap Growth Fund (Series D) March 31, 1994 1.50% (1)
Sit Science and Technology Fund (Series E) December 31, 1997 1.50% (1)
Sit Dividend Growth Fund (Series G) December 31, 2003 1.00% (1)
(1) Except for extraordinary expenses (as so designated by a
majority of the directors of the Company, including a majority
of said directors who are not "interested persons" of the
Company or of SIA, as defined in the Investment Company Act of
1940, as amended), fees paid under a distribution plan adopted
pursuant to Rule 12b-1 under the Investment Company Act of
1940 for class of S of Sit Dividend Growth Fund (series G of
Sit Mutual Funds, Inc.), interest, brokerage commissions and
other transaction charges relating to investing activities
incurred by the Company on behalf of each aforementioned Fund,
SIA shall bear all of each Fund's expenses.
IN WITNESS WHEREOF, the Company and SIA have caused this Amended
Exhibit A to the Investment Management Agreement dated as of November 1, 1992
between the Company and SIA to be executed as of March 30, 2006.
SIT MUTUAL FUNDS, INC.
By /s/ Xxxx X. Xxxxxxxxx
---------------------------------
Its Vice President
---------------------------------
SIT INVESTMENT ASSOCIATES, INC.
By /s/ Xxxxxx X. Sit
---------------------------------
Its Chairman
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C-10
