EXTENSION AGREEMENT
THIS
EXTENSION AGREEMENT is made as of January 31, 2008 by and between NEW YORK LIFE
INVESTMENT MANAGEMENT, LLC (“NYLIM”) and STATE STREET BANK AND TRUST COMPANY, a
Massachusetts trust company and the successor in interest to INVESTORS BANK
& TRUST COMPANY (“Bank”).
WHERAS,
NYLIM and Bank have entered into a Master Fund Sub-Accounting and
Sub-Administration Agreement dated June 30, 2005, as such agreement has been
amended and extended from time to time (the “Master Agreement”);
and
WHERAS,
NYLIM and Bank desire to amend such Master Agreement in the manner set forth
herein;
NOW,
THEREFORE, in consideration of the mutual covenants set forth herein and in such
agreements, it is agreed between the respective parties hereto as
follows:
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1)
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The
Master Agreement between NYLIM and Bank is hereby amended by deleting
Section 8(a) of the Master Agreement in its entirety and by inserting in
lieu thereof the following:
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“The term
of this Agreement shall continue through June 30, 2011 (the “Extension Term”),
unless earlier terminated as provided herein. After the expiration of
the Extension Term, the term of this Agreement shall automatically renew for
successive one-year terms (each a “Renewal Term”) unless notice of non-renewal
is delivered by the non-renewing party to the other party no later than ninety
(90) days, if NYLIM is the non-renewing party or one hundred eighty (180) days
if Bank is the non-renewing party, prior to the expiration of the Extension Term
or any Renewal Term, as the case may be.
Either party hereto may terminate this
Agreement prior to the expiration of the Extension Term or any Renewal Term in
the event the other party violates any material provision of this Agreement,
provided that the non-violating party gives written notice of such violation to
the violating party and the violating party does not cure such violation within
ninety (90) days of receipt of such notice.”
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2)
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Miscellaneous.
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(a) Except
as amended hereby, the Master Agreement referenced herein shall remain in full
force and effect.
(b) This
Extension may be executed in two or more counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same
instrument
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IN
WITNESS WHEREOF, the parties hereto have caused this instrument to be duly
executed and delivered by their duly authorized officers as of the date first
written above.
NEW YORK
LIFE INVESTMENT MANAGEMENT, LLC
By: /s/ Xxxxx X.
Xxxxxxx
Name: Xxxxx
X. Xxxxxxx
Title: President
and CEO
STATE
STREET BANK AND TRUST COMPANY
By: /s/ Xxxxxxx
XxXxxxx
Name: Xxxxxxx
XxXxxxx
Title: Senior
Vice President
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