Exhibit (d)1.4
LETTER AGREEMENT
Xxxxx Xxxxxxx Investment Management Company
P.O. Box 1591
Tacoma, WA 98401-1591
Dear Sirs:
This Letter Agreement relates to the Advisory Agreement between Xxxxx Xxxxxxx
Investment Company ("FRIC") and Xxxxx Xxxxxxx Investment Management Company
("FRIMCo") dated January 1, 1999 ("Advisory Agreement"). FRIC advises you that
it is creating one new fund to be named the Xxxxxxx Multi-Manager Principal
Protected Fund and that the Fund desires FRIMCo to provide advisory services to
the Fund pursuant to the terms and conditions of the Advisory Agreement.
Section 6A of the Advisory Agreement is hereby amended to include the Fund with
an annual advisory fee as follows: during the Offering Period, the Fund will pay
no advisory fees; during the Guarantee and Post Guarantee Periods, 0.88% of the
Fund's average daily net assets, each payable as set forth in that Section;
provided however, that if, at any time during the Guarantee Period, 100% of the
Fund's assets are invested in the Fixed Income Portfolio or the Defeasance
Portfolio (each as defined in Exhibit A attached hereto), FRIMCo will waive a
portion of its fee up to 0.55% of average daily net assets of the Fund in
respect of assets of the Fund that are invested in the Defeasance Portfolio or
for any full day during which the Equity Portfolio (as defined in Exhibit A
attached hereto) constitutes zero (0) per cent of the assets of the Fund.
Please indicate your acceptance of the amendment to the Advisory Agreement by
executing the acceptance copy of this letter agreement and returning it to the
undersigned.
Sincerely,
XXXXX XXXXXXX INVESTMENT COMPANY
By:_____________________________________
Xxxx X. Xxxxxxx
Treasurer
Accepted this ___ day of __________, 2002
XXXXX XXXXXXX INVESTMENT MANAGEMENT COMPANY
By:_____________________________________
Xxxxxxx X. Xxxxxxx
President
Xxxxx Xxxxxxx Company agrees to provide consulting services without charge to
FRIC upon the request of the Board of Trustees or Officers of the Trust, or upon
the request of Advisor pursuant to Section 2(c).
XXXXX XXXXXXX COMPANY
By:_________________________________
Xxxxxxx X. Xxxxxxxx, President
