THE MAINSTAY FUNDS AMENDMENT TO THE AMENDED AND RESTATED MANAGEMENT AGREEMENT
THE
MAINSTAY FUNDS
AMENDMENT
TO THE AMENDED AND RESTATED MANAGEMENT AGREEMENT
This
Amendment to the Amended and Restated Management Agreement, is made as of the
1st
day of November 2009, between The MainStay Funds, a Massachusetts business trust
(the “Trust”), on behalf of its series as set forth on Schedule A (each, a
“Fund,” and collectively, the “Funds”), and New York Life Investment Management
LLC, a Delaware limited liability company (the “Manager”).
WHEREAS, the Trust and the
Funds are parties to an Amended and Restated Management Agreement, dated August
1, 2008, as amended (“Agreement”); and
WHEREAS, the parties hereby
wish to amend the Agreement to reflect a fee change for the MainStay Tax Free
Bond Fund.
NOW, THEREFORE, the parties
agree as follows:
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(i)
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effective
November 1, 2009, Schedule A is hereby amended by deleting it in its
entirety and replacing it with the Schedule attached
hereto.
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IN WITNESS HEREOF, the parties
hereto have caused this Amendment to be executed by their duly authorized
officers and attested as the date first written above.
THE
MAINSTAY FUNDS
By: /s/ Xxxxxxx X.
Xxxxxx
Name: Xxxxxxx
X. Xxxxxx
Title: President
NEW
YORK LIFE INVESTMENT MANAGEMENT
By: /s/ Xxxxx X.
Xxxxx
Name: Xxxxx
X. Xxxxx
Title: Executive
Vice President
For all
services rendered by the Manager hereunder, each Fund of the Company shall pay
the Manager and the Manager agrees to accept as full compensation for all
services rendered hereunder, an annual fee equal to the following:
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FUND
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ANNUAL
RATE
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Capital
Appreciation Fund
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0.720%
up to $200 million;
0.650%
from $200 million to $500 million; and 0.500% in excess of $500
million
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Common
Stock Fund
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0.550%
up to $500 million;
0.525%
from $500 million to $1 billion; and
0.500%
in excess of $1 billion
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Convertible
Fund
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0.600% up to $500
million;
0.550% from $500 million to $1
billion; and 0.500% in excess of $1 billion
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Diversified
Income Fund
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0.600% up to $500
million;
0.550% from $500 million to $1
billion; and 0.500% in excess of $1 billion
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Equity
Index Fund
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0.250%
up to $1.0
billion;
0.225% from $1 billion to $3
billion; and
0.200% in excess of $3
billion
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Global
High Income Fund
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0.700%
up to $500 million;
0.650%
in excess of $500 million
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Government
Fund
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0.600%
up to $500 million;
0.575%
from $500 million to $1 billion; and
0.550%
in excess of $1 billion
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High
Yield Corporate Bond Fund
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0.600%
up to $500 million;
0.550%
from $500 million to $5.0 billion; and 0.525% in excess of $5.0
billion
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Income
Builder
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0.640%
up to $500 million;
0.600%
from $500 million to $1 billion; and
0.575%
in excess of $1 billion
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International
Equity Fund
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0.800%
on all assets
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Large
Cap Growth Fund
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0.800%
up to $250 million;
0.750%
from $250 million to $500 million;
0.725%
from $500 million to $750 million;
0.700%
from $750 million to $2 billion;
0.650%
from $2 billion to $3 billion; and
0.600%
in excess of $3 billion
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MAP
Fund
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0.750%
up to $1 billion; and
0.700%
in excess of $1 billion
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Mid
Cap Growth Fund
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0.750%
up to $500 million; and
0.700%
in excess of $500 million
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Mid
Cap Value Fund
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0.700%
up to $500 million; and
0.650%
in excess of $500 million
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Money
Market Fund
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0.450%
up to $500 million;
0.400%
from $500 million up to $1 billion; and
0.350%
in excess of $1 billion
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Principal
Preservation Fund
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0.250%
on all assets
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Small
Cap Growth Fund
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1.000%
up to $1 billion; and
0.950%
in excess of $1 billion
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Tax
Free Bond Fund
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0.500%
up to $500 million;
0.475%
from $500 million to $1 billion; and 0.450% in excess of $1
billion
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Value
Fund
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0.720%
up to $200 million;
0.650%
from $200 million to $500 million; and 0.500% in excess of $500
million
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In
addition, each Fund of the Trust shall pay the Manager the fee set forth
below. In the event this Agreement is in effect for only a portion of
any one year, the fee payable below shall be reduced proportionately on the
basis of the number of business days (any day on which the New York Stock
Exchange is open for trading) during which the Agreement was in effect for that
year.
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FUND NET
ASSETS
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ACCOUNTING FEE
SCHEDULE
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First
$20 Million
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1/20
of 1%
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Next
$80 Million
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1/30
of 1%
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Excess
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1/100
of 1%
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Minimum
Monthly Charge
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$1,000
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This fee
shown above is an annual charge, billed and payable monthly, based upon average
monthly net assets.
