AXA PREMIER VIP TRUST AMENDMENT NO. 2 INVESTMENT ADVISORY AGREEMENT
Exhibit (d)(36)(ii)
AMENDMENT NO. 2
AMENDMENT NO. 2 to the Investment Advisory Agreement dated as of December 18, 2009 (“Amendment No. 2”), between AXA Equitable Life Insurance Company, a New York corporation (“AXA Equitable” or “Manager”) and SSgA Funds Management, Inc. a Massachusetts corporation (the “Adviser”).
AXA Equitable and Adviser agree to modify the Investment Advisory Agreement, as amended, dated as of January 15, 2009, (“Agreement”), for the AXA Premier VIP Trust (“Trust”) to reflect the termination of the Agreement with respect to the Multimanager Aggressive Equity Portfolio; Multimanager Large Cap Core Equity Portfolio; and Multimanager Large Cap Value Portfolio (the “Terminated Portfolios”):
1. Removed Portfolios. Effective the close of business December 28, 2009, all references to each Terminated Portfolio is the Agreement is hereby removed.
2. Existing Portfolios. The Manager hereby reaffirms its appointment of the Adviser as the investment adviser for the Multimanager Core Bond Portfolio; Multimanager International Equity Portfolio; Multimanager Large Cap Growth Portfolio; Multimanager Mid Cap Growth Portfolio; Multimanager Mid Cap Value Portfolio; Multimanager Multi-Sector Bond Portfolio; Multimanager Small Cap Growth Portfolio; Multimanager Small Cap Value Portfolio; and Multimanager Technology Portfolio.
3. Appendix A. Appendix A to the Agreement setting forth the Portfolios of the Trust for which the Adviser is appointed as the investment adviser and the fee payable to the Adviser with respect to the Portfolios is hereby replaced in its entirety by Appendix A attached hereto.
4. Ratification. Except as modified and amended hereby, the Agreement is hereby ratified and confirmed in full force and effect in accordance with its terms.
IN WITNESS WHEREOF, the parties have executed and delivered this Amendment No. 2 as of the date first set forth above.
| AXA EQUITABLE LIFE INSURANCE COMPANY | SSgA FUNDS MANAGEMENT, INC. | |||||||
| By: | By: | |||||||
| Xxxxxx X. Xxxxx | Name: | |||||||
| Senior Vice President | Title: | |||||||
APPENDIX A
AMENDMENT NO. 2
The Manager shall pay the Adviser monthly compensation computed daily at an annual rate equal to the following:
| Allocated Portion of a Portfolio |
Annual Advisory Fee Rate** | |
| Multimanager Core Bond Portfolio* | 0.02% of the Index Allocated Portion’s average daily net assets up to and including $2 billion; 0.015% of the Index Allocated Portion’s average daily net assets in excess of $2 billion | |
| Multimanager International Equity Portfolio* | 0.04% of the Index Allocated Portion’s average daily net assets up to and including $100 million; 0.03% of the Index Allocated Portion’s average daily net assets in excess of $100 million up to and including $600 million; 0.0275% of the Index Allocated Portion’s average daily net assets in excess of $600 million | |
| Multimanager Mid Cap Growth Portfolio* | 0.02% of the Index Allocated Portion’s average daily net assets up to and including $150 million; 0.015% of the Index Allocated Portion’s average daily net assets in excess of $150 million | |
| Multimanager Mid Cap Value Portfolio* | 0.02% of the Index Allocated Portion’s average daily net assets up to and including $150 million; 0.015% of the Index Allocated Portion’s average daily net assets in excess of $150 million | |
| Multimanager Multi-Sector Bond Portfolio* | 0.08% of the Index Allocated Portion’s average daily net assets up to and including $150 million; 0.06% of the Index Allocated Portion’s average daily net assets in excess of $150 million+ | |
| Allocated Portion of a Portfolio |
Annual Advisory Fee Rate** | |
| 0.02% of the Index Allocated Portion’s average daily net assets up to and including $2 billion; 0.015% of the Index Allocated Portion’s average daily net assets in excess of $2 billion++ | ||
| Multimanager Large Cap Growth Portfolio* | 0.02% of the Index Allocated Portion’s average daily net assets up to and including $150 million; 0.015% of the Index Allocated Portion’s average daily net assets in excess of $150 million | |
| Multimanager Small Cap Growth Portfolio* | 0.02% of the Index Allocated Portion’s average daily net assets up to and including $150 million; 0.015% of the Index Allocated Portion’s average daily net assets in excess of $150 million | |
| Multimanager Small Cap Value Portfolio* | 0.02% of the Index Allocated Portion’s average daily net assets up to and including $150 million; 0.015% of the Index Allocated Portion’s average daily net assets in excess of $150 million | |
| Multimanager Technology Portfolio* | 0.04% of the Index Allocated Portion’s average daily net assets up to and including $100 million; 0.03% of the Index Allocated Portion’s average daily net assets in excess of $100 million up to and including $600 million; 0.0275% of the Index Allocated Portion’s average daily net assets in excess of $600 million | |
| * | Fees to be paid with respect to each Portfolio shall be based only on the portion of each Portfolio’s average daily net assets advised by the Adviser, which may be referred to as the “Index Allocated Portion.” |
| ** | The daily advisory fee for the Index Allocated Portion is calculated by multiplying the aggregate net assets of the Index Allocated Portion at the close of the immediately preceding business day by the Annual Advisory Fee Rate calculated as set forth above and then dividing the result by the number of days in the year. |
| + | Fees to be paid shall be based only on the Index Allocated Portion’s average daily net assets advised by the Adviser employing a Barclays Capital U.S. Corporate High Yield Index strategy. |
| ++ | Fees to be paid shall be based only on the Index Allocated Portion’s average daily net assets advised by the Adviser employing a Barclays Capital U.S. Aggregate Bond Index strategy. |
