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
24th 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 the removal of the MainStay Capital
Appreciation Fund, MainStay Mid Cap Value Fund and MainStay Small Cap Growth
Fund from the schedule.
NOW, THEREFORE, the parties
agree as follows:
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(i)
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effective
November 24, 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 WHEREOF, the
parties hereto have caused this Amendment to be executed by their duly
authorized officers and attested as of the date first written
above.
THE
MAINSTAY FUNDS
By:
Name: Xxxxxxx
X. Xxxxxx
Title: President
NEW
YORK LIFE INVESTMENT MANAGEMENT
By:
Name: Xxxxx
X. Xxxxx
Title: Executive
Vice President
SCHEDULE
A
(As
of November 24, 2009)
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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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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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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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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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.
