EXHIBIT 99.B5
ALPHA SERIES
ADDENDUM TO MANAGEMENT
AGREEMENT BETWEEN LORD XXXXXX
SECURITIES TRUST AND LORD, XXXXXX & CO.
DATED MAY 19, 1993 (THE AGREEMENT')
Lord, Xxxxxx & Co. and Lord Xxxxxx Securities Trust (the "Trust") on
behalf of Alpha Series (" Series") do hereby agree that the annual management
fee rate for the Series with respect to paragraph 2 of the Agreement shall be
.50 of 1% of the average daily net assets of the Series, provided that such
management fee, if any, charged is based on services provided that are in
addition to, rather than duplicative of, services provided pursuant to the
advisory contract for any "acquired company". Since Alpha Series (as an
"acquiring company") is permitted to invest in shares of another investment
company (an "acquired company") that is in the same "group of investment
companies" as the Alpha Series, the terms quoted in this sentence shall have the
same meaning (which shall be incorporated by reference into this addendum) as
provided under Section 12(d)(1)(G) of the Investment Company Act of 1940, as
amended (the "Act"). In addition, the parties hereby agree that the repayment
provisions pursuant to paragraph 5 of the Agreement shall not be applicable to
the Series.
For purposes of Section 15(a) of the Act, this Addendum and the
Agreement shall together constitute the investment advisory contract of the
Series.
LORD, XXXXXX & CO.
BY:
Managing Partner
LORD XXXXXX SECURITIES TRUST
(on behalf of Alpha Series)
BY:
Vice President
Dated: , 1997