NORTHWESTERN MUTUAL SERIES FUND, INC. 720 East Wisconsin Avenue Milwaukee, Wisconsin 53202 March 5, 2021
NORTHWESTERN MUTUAL SERIES FUND,
INC.
000 Xxxx Xxxxxxxxx Xxxxxx
Xxxxxxxxx, Xxxxxxxxx 00000
000 Xxxx Xxxxxxxxx Xxxxxx
Xxxxxxxxx, Xxxxxxxxx 00000
March 5, 2021
Xxxx X. Xxxxxxx, President
Xxxxx Street Advisors, LLC
000 Xxxx Xxxxxxxxx Xxxxxx
Xxxxxxxxx, XX 00000
Xxxxx Street Advisors, LLC
000 Xxxx Xxxxxxxxx Xxxxxx
Xxxxxxxxx, XX 00000
Re:
Agreement to Waive Xxxxx Street Advisors, LLC Investment Advisory Fees Relating to
Certain Portfolios of Northwestern Mutual Series Fund, Inc.
Certain Portfolios of Northwestern Mutual Series Fund, Inc.
Dear Xx. Xxxxxxx:
This letter constitutes an agreement between Xxxxx Street Advisors, LLC (“MSA”) and Northwestern Mutual Series Fund, Inc. (“Series Fund”) regarding the investment advisory fee for each of the Series Fund portfolios set forth below (each, a “Portfolio”). MSA agrees to waive, from May 1, 2021 through April 30, 2022 (unless renewed by the parties hereto), its investment advisory fee applicable to each Portfolio such that the investment advisory fee is as follows:
Growth Stock
Portfolio
| Assets |
Fee |
| Up to $50 million |
0.60% |
| $50 million - $100 million |
0.50% |
| $100 million - $1 billion |
0.40% |
| Excess over $1 billion |
0.38% |
Focused Appreciation
Portfolio
| Assets |
Fee |
| Up to $100 million |
0.66% |
| $100 million - $500 million |
0.61% |
| $500 million - $1 billion |
0.60% |
| Excess over $1 billion |
0.57% |
Large Cap Core Stock
Portfolio
| Assets |
Fee |
| Up to $50 million |
0.60% |
| $50 million - $100 million |
0.50% |
| $100 million - $500 million |
0.40% |
| Excess over $500 million |
0.37% |
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Large Cap Blend
Portfolio
| Assets |
Fee |
| Up to $150 million |
0.74% |
| $150 million - $300 million |
0.67% |
| $300 million - $500 million |
0.62% |
| Excess over $500 million |
0.56% |
Index 500 Stock
Portfolio
| Assets |
Fee |
| Up to $2 billion |
0.20% |
| Excess over $2 billion |
0.18% |
Large Company Value
Portfolio
| Assets |
Fee |
| Up to $100 million |
0.70% |
| $100 million - $250 million |
0.65% |
| $250 million- $500 million |
0.59% |
| Excess over $500 million |
0.57% |
Domestic Equity
Portfolio
| Assets |
Fee |
| Up to $100 million |
0.65% |
| $100 million - $250 million |
0.55% |
| $250 million - $500 million |
0.50% |
| $500 million - $1 billionExcess over $1 billion |
0.43%0.41% |
Equity Income Portfolio
| Assets |
Fee |
| Up to $500 million |
0.56% |
| $500 million - $1.5 billion |
0.53% |
| Excess over $1.5 billion |
0.52% |
Mid Cap Growth Stock Portfolio
| Assets |
Fee |
| Up to $50 million |
0.80% |
| $50 million- $100 million |
0.65% |
| $100 million- $1 billion |
0.50% |
| Excess over $1 billion |
0.49% |
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Index 400 Stock
Portfolio
| Assets |
Fee |
| Up to $500 million |
0.25% |
| Excess over $500 million |
0.20% |
Mid Cap Value Portfolio
| Assets |
Fee |
| Up to $150 million |
0.79% |
| $150 million - $500 million |
0.67% |
| Excess over $500 million |
0.64% |
Small Cap Value
Portfolio
| Assets |
Fee |
| Up to $500 million |
0.85% |
| Excess over $500 million |
0.80% |
International Growth
| Assets |
Fee |
| Up to $100 million |
0.75% |
| $100 million - $250 million |
0.65% |
| $250 million - $1 billion |
0.55% |
| Excess over $1 billion |
0.54% |
Research International
Core
| Assets |
Fee |
| Up to $150 million |
0.83% |
| $150 million - $300 million |
0.77% |
| $300 million - $500 million |
0.70% |
| Excess over $500 million |
0.63% |
International Equity
Portfolio
| Assets |
Fee |
| Up to $50 million |
0.69% |
| $50 million - $500 million |
0.54% |
| $500 million - $1 billion |
0.52% |
| $1 billion - $1.5 billion |
0.46% |
| Excess over $1.5 billion |
0.40% |
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5
Emerging Markets Equity Portfolio
| Assets |
Fee |
| Up to $250 million |
0.95% |
| $250 million- $500 million |
0.87% |
| $500 million- $1 billion |
0.84% |
| Excess over $1 billion |
0.78% |
Government Money Market
Portfolio
| Assets |
Fee |
| Up to $500 million |
0.30% |
| $500 million - $1 billion |
0.29% |
| Excess over $1 billion |
0.28% |
Short-Term Bond
Portfolio
| Assets |
Fee |
| Up to $100 million |
0.35% |
| $100 million- $250 million |
0.33% |
| $250 million- $500 million |
0.30% |
| Excess over $500 million |
0.28% |
Select Bond Portfolio
| Assets |
Fee |
| Up to $2 billion |
0.30% |
| Excess over $2 billion |
0.28% |
Long-Term U.S. Government Bond
Portfolio
| Assets |
Fee |
| Up to $100 million |
0.555% |
| $100 million - $250 million |
0.515% |
| $250 million - $500 million |
0.495% |
| Excess over $500 million |
0.445% |
Inflation Protection
Portfolio
| Assets |
Fee |
| Up to $100 million |
0.55% |
| $100 million - $250 million |
0.50% |
| Excess over $250 million |
0.46% |
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5
High Yield Bond
Portfolio
| Assets |
Fee |
| Up to $50 million |
0.60% |
| $50 million - $100 million |
0.50% |
| $100 million - $1.0 billion |
0.40% |
| Excess over $1.0 billion |
0.30% |
Multi-Sector Bond
Portfolio
| Assets |
Fee |
| Up to $100 million |
0.74% |
| $100 million - $250 million |
0.73% |
| $250 million - $500 million |
0.70% |
| Excess over $500 million |
0.65% |
Balanced Portfolio
| All assets |
0.05% |
Asset Allocation
Portfolio
| All assets |
0.05% |
This letter supersedes all prior agreements between the parties relating to the same matters.
| Very truly yours, | |
| NORTHWESTERN MUTUAL SERIES FUND, INC. | |
| By: |
/s/Xxxx X. Xxxxxxx |
| Name: Xxxx X. Xxxxxxx | |
| Title: President | |
Agreed to and accepted:
| XXXXX STREET ADVISORS, LLC | |
| By: |
/s/Xxxx X. Xxxxxxx |
| Name: Xxxx X. Xxxxxxx | |
| Title: President | |
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