NORTHWESTERN MUTUAL SERIES FUND, INC.
NORTHWESTERN MUTUAL SERIES FUND, INC.
000 Xxxx Xxxxxxxxx Xxxxxx
Milwaukee, Wisconsin 53202
January 31, 2012
Xxxxx Street Advisors, LLC
000 Xxxx Xxxxxxxxx Xxxxxx
Milwaukee, WI 53202
Re: Agreement to Waive Certain Investment Advisory Fees
Gentlemen:
This letter constitutes an agreement between Xxxxx Street Advisors, LLC (“MSA”) and Northwestern Mutual Series Fund, Inc. (“NMSF”) regarding the investment advisory fee for each of the NMSF portfolios set forth below (each, a “Portfolio”). MSA agrees to waive, through April 30, 2013 (unless renewed by the parties hereto), its investment advisory fee applicable to each Portfolio such that the investment advisory fee is as follows:
Focused Appreciation Portfolio
| Assets |
Fee | |||
| Up to $100 million |
0.75 | % | ||
| $100 million - $300 million |
0.70 | % | ||
| $300 million - $500 million |
0.65 | % | ||
| Excess over $500 million |
0.60 | % | ||
Mid Cap Value Portfolio
| Assets |
Fee | |||
| Up to $150 million |
0.85 | % | ||
| $150 million - $300 million |
0.80 | % | ||
| Excess over $300 million |
0.75 | % | ||
Small Cap Value Portfolio
| Assets |
Fee | |||
| Up to $500 million |
0.85 | % | ||
| Excess over $500 million |
0.80 | % | ||
Xxxxx Street Advisors, LLC
Page 2
January 31, 2012
International Equity Portfolio
| Assets |
Fee | |||
| Up to $50 million |
0.80 | % | ||
| $50 million - $1 billion |
0.60 | % | ||
| $1 billion - $1.5 billion |
0.58 | % | ||
| Excess over $1.5 billion |
0.51 | % | ||
Asset Allocation Portfolio
| Assets |
Fee | |||
| Up to $100 million |
0.55 | % | ||
| $100 million - $250 million |
0.45 | % | ||
| Excess over $250 million |
0.35 | % | ||
With respect to the Balanced Portfolio and the Asset Allocation Portfolio (each, an “Allocation Portfolio”), MSA has agreed to waive through April 30, 2013 (unless renewed by the parties hereto), its investment advisory fee applicable to each such Allocation Portfolio such that the investment advisory fee on any assets invested by an Allocation Portfolio in an Underlying Portfolio, as defined hereinafter, is 0.05% of the Allocation Portfolio’s average net assets. For purposes of this letter, the term “Underlying Portfolio” shall mean and include the NMSF International Growth Portfolio, International Equity Portfolio, Emerging Markets Equity Portfolio and Research International Core Portfolio.
This letter supersedes all prior agreements between the parties relating to the same matters.
| Very truly yours, | ||
| NORTHWESTERN MUTUAL SERIES FUND, INC. | ||
| By: | /s/ X. XXXXX XXXX | |
| Name: | X. Xxxxx Xxxx | |
| Title: | President | |
| Agreed to and accepted: | ||
| XXXXX STREET ADVISORS, LLC | ||
| By: | /s/ XXXX X. XXXXXXX | |
| Name: | Xxxx X. Xxxxxxx | |
| Title: | Vice President | |
