EXHIBIT NO. 99.5(e)
AMENDMENT TO INVESTMENT
ADVISORY AGREEMENT
AMENDMENT dated as of January 2, 1997 to the Investment Advisory Agreement dated
January 2, 1996 by and between MFS Series Trust I (the "Trust") on behalf of MFS
Research Growth and Income Fund (the "Fund"), a series of the Trust, and
Massachusetts Financial Services Company, a Delaware corporation (the "Adviser")
(the "Agreement").
WITNESSETH
WHEREAS, the Trust on behalf of the Fund has entered into the Agreement with the
Adviser; and
WHEREAS, MFS has agreed to amend the Agreement as provided below;
NOW THEREFORE, in consideration of the mutual covenants and agreements of the
parties hereto as herein set forth, the parties covenant and agree as follows:
1. Amendment of the Agreement: Effective as of the date hereof, the first
sentence of Article 3 of the Agreement is deleted and replaced in its entirety
as follows:
"For the services to be rendered and the facilities provided,
the Fund shall pay to the Adviser an investment advisory fee
computed and paid monthly in an amount equal to the sum of
0.65% of the first $500 million of the Fund's average daily
net assets and 0.55% of the amount in excess of $500 million,
in each case on an annualized basis for the Fund's
then-current fiscal year."
2. Miscellaneous: Except as set forth in this Amendment, the Agreement
shall remain in full force and effect, without amendment or modification.
3. Prior Amendments: This Amendment supersedes any and all previous
amendments to the Agreement.
4. Limitation of Liability of the Trustees and Shareholders: A copy of the
Trust's Declaration of Trust is on file with the Secretary of State of The
Commonwealth of Massachusetts. The parties hereto acknowledge that the
obligations of or arising out of this instrument are not binding upon any of the
Trust's trustees, officers, employees, agents or shareholders individually, but
are binding solely upon the assets and property of the Trust in accordance with
its proportionate interest hereunder. If this instrument is executed by the
Trust on behalf of one or more series of the Trust, the parties hereto
acknowledge that the assets and liabilities of each series of the Trust are
separate and distinct and that the obligations of or arising out of this
instrument are binding solely upon
the assets or property of the series on whose behalf the Trust has executed this
instrument. If the Trust has executed this instrument on behalf of more than one
series of the Trust, the parties hereto also agree that the obligations of each
series hereunder shall be several and not joint, in accordance with its
proportionate interest hereunder, and the parties hereto agree not to proceed
against any series for the obligations of another series.
IN WITNESS WHEREOF, the parties have caused this Amendment to the Agreement to
be executed and delivered in the names and on their behalf by the undersigned,
therewith duly authorized, all as of the day and year first above written.
MFS SERIES TRUST I,
on behalf of MFS RESEARCH GROWTH
AND INCOME FUND
By: A. XXXXX XXXXXXX
A. Xxxxx Xxxxxxx
Chairman
MASSACHUSETTS FINANCIAL SERVICES COMPANY
By: XXXXXX X. XXXXX
Xxxxxx X. Xxxxx
Senior Executive Vice President
