THE MAINSTAY FUNDS AMENDMENT TO THE AMENDED AND RESTATED SUBADVISORY AGREEMENT
THE MAINSTAY FUNDS
AMENDMENT TO THE AMENDED AND RESTATED SUBADVISORY AGREEMENT
This Amendment to the Amended and Restated Subadvisory Agreement, is made as of the 28th day of February 2013, between New York Life Investment Management LLC, (the “Manager”) and MacKay Xxxxxxx LLC, (the Subadvisor”).
WHEREAS, the Manager and the Subadvisor are parties to an Amended and Restated Subadvisory Agreement, dated August 1, 2008, as amended (the “Subadvisory Agreement”); and
WHEREAS, the parties hereby wish to amend the Subadvisory Agreement to reflect revisions to the subadvisory fees with respect to MainStay Government Fund.
NOW, THEREFORE, the parties agree as follows:
(i) | Effective February 28, 2013, Schedule A is hereby amended by deleting it in its entirety and replacing it with the Schedule attached hereto. |
IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their duly authorized officers and attested effective as of the date first written above.
NEW YORK LIFE INVESTMENT MANAGEMENT LLC
Attest: | /s/ Xxxxx X. Xxxx | By: | /s/ Xxxxxxx X. Xxxxxx |
Name: | Xxxxx X. Xxxx | Name: | Xxxxxxx X. Xxxxxx |
Title: | Director & Associate General Counsel | Title: | Senior Managing Director |
MACKAY XXXXXXX LLC
Attest: | /s/ Xxxxx Xxx | By: | /s/ Xxxxxxx Xxxxxx |
Name: | Xxxxx Xxx | Name: | Xxxxxxx Xxxxxx |
Title: | Managing Director & Acting General Counsel | Title: | President |
SCHEDULE A
(As of February 28, 2013)
As compensation for services provided by Subadvisor the Manager will pay the Subadvisor and Subadvisor agrees to accept as full compensation for all services rendered hereunder, at an annual subadvisory fee equal to the following:
Fund | Annual Rate | |
MainStay Convertible Fund * | 0.300% up to $500 million; 0.275% from $500 million to $1 billion; and 0.250% in excess of $1 billion | |
MainStay Unconstrained Bond Fund * (Formerly MainStay Flexible Bond Opportunities Fund ) |
0.300% on all assets | |
MainStay Global High Income Fund * | 0.350% on all assets | |
MainStay Government Fund * |
0.25% up to $500 million; 0.2375% from $500 million to $1 billion; and | |
MainStay High Yield Corporate Bond Fund
|
0.300% up to $500 million; 0.250% in excess of $7 billion | |
MainStay Income Builder Fund* |
0.320% up to $500 million; and | |
MainStay Tax Free Bond Fund * |
0.250% up to $500 million; |
The portion of the fee based upon the average daily net assets of the respective Fund shall be accrued daily at the rate of 1/(number of days in calendar year) of the annual rate applied to the daily net assets of the Fund.
Payment will be made to the Subadvisor on a monthly basis.
* For certain Funds listed above, the Manager has agreed to waive a portion of each Fund’s management fee or reimburse the expenses of the appropriate class of the Fund so that the class’ total ordinary operating expenses do not exceed certain amounts. These waivers or expense limitations may be changed with Board approval. To the extent the Manager has agreed to waive its management fee or reimburse expenses, MacKay Xxxxxxx, as Subadvisor for these Funds, has voluntarily agreed to waive or reimburse its fee proportionately.
**MacKay Xxxxxxx manages the fixed income portion of the Income Builder Fund. The annual rate is based on the percentage of MacKay Xxxxxxx’ Allocated Assets constituting the Series’ average daily net assets.