ECLIPSE FUNDS, ECLIPSE FUNDS INC., THE MAINSTAY FUNDS, MAINSTAY FUNDS TRUST AND MAINSTAY VP SERIES FUND, INC. AMENDMENT TO THE SUBADVISORY AGREEMENT
Exhibit
D 2 a
ECLIPSE
FUNDS, ECLIPSE FUNDS INC., THE MAINSTAY FUNDS,
MAINSTAY
FUNDS TRUST AND MAINSTAY VP SERIES FUND, INC.
AMENDMENT
TO THE SUBADVISORY AGREEMENT
This
Amendment to the Subadvisory Agreement, is made as of the 10th day of
November 2009, between New York Life Investment Management LLC, a Delaware
limited liability company (the “Manager”) and Epoch Investment Partners, Inc., a
Delaware corporation (the “Subadvisor”).
WHEREAS, the Manager and the
Subadvisor are parties to a Subadvisory Agreement, dated June 29, 2009, as
amended (“Agreement”); and
WHEREAS, the parties hereby
wish to amend the Agreement to add the MainStay Epoch Global Choice Fund,
MainStay Epoch Global Equity Yield Fund, MainStay Epoch International Small Cap
Fund and MainStay Epoch U.S. Equity Fund, each a series of the MainStay Funds
Trust.
NOW, THEREFORE, the parties
agree as follows:
(i)
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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 have executed this Amendment to be effective as of the date first
written above.
NEW
YORK LIFE INVESTMENT MANAGEMENT LLC
By:
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/s Xxxxx X. Xxxxx
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Name: Xxxxx
X. Xxxxx
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Title: Executive
Vice President
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EPOCH
INVESTMENT PARTNERS, INC.
By:
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/s/ Xxxxxxx Xxxxxxx
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Name:
Xxxxxxx Xxxxxxx
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Title: Chief
Operating Officer
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SCHEDULE
A
(Revised
as of November 10, 2009)
As
compensation for services provided by Subadvisor with respect to each of the
following Series the Manager will pay the Subadvisor and Subadvisor agrees to
accept as full compensation for services rendered hereunder, an annual
subadvisory fee with respect to such Series equal to the following:
SERIES
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ANNUAL RATE
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MainStay
Epoch Global Choice Fund
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0.50%
on all assets
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MainStay
Epoch Global Equity Yield Fund
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0.35%
on all assets
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MainStay
Epoch International Small Cap Fund
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0.55%
on all assets
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MainStay
Epoch U.S. All Cap Fund2
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0.425%
on assets up to $500 million;
0.4125%
on assets from $500 million to $1 billion; and
0.40%
on assets over $1 billion
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MainStay
Epoch U.S. Equity Fund
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0.40%
on all assets
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MainStay Small Cap Growth Fund1,
2
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0.425%
on assets up to $1 billion; and
0.40%
on assets over $1 billion
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MainStay U.S. Small Cap Fund1,
2
(formerly
Small Company Value Fund)
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0.425%
on assets up to $1 billion; and
0.40%
on assets over $1 billion
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MainStay
Income Builder Fund2,
3
(formerly
Total Return Fund)
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50%
of the effective gross management fee
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MainStay
VP Developing Growth Portfolio2
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0.400%
on assets up to $200 million;
0.375%
on assets from $200 million to $500 million;
0.3625%
on assets from $500 million to $1 billion; and
0.350%
on assets over $1 billion
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SERIES
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ANNUAL RATE
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MainStay
VP Total Return Portfolio2,4
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50%
of the effective gross management
fee
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The fee
based upon the average daily net assets of the respective Series, unless
otherwise noted, 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
Series.
Payment
will be made to the Subadvisor on a monthly basis.
1
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With
respect to the MainStay Small Cap Growth Fund and MainStay U.S. Small Cap
Fund, to the extent that the net management fee ratio for the Fund is less
than the subadvisory fee ratio due to total net expense limitation
reimbursements, the Subadvisor has agreed to receive an amount equal to
the net management fees.
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2
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Effective
three years after the date of this Agreement, the Subadvisor will equally
share in any modifications to the management fee or management fee
breakpoints for the Series that are implemented subsequent to the date of
this Agreement.
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3
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Based
on the percentage of the Subadvisor’s Allocated Assets constituting the
Series’ average daily net assets. For reference, the management fee
schedule for MainStay Income Builder Fund is 0.64% on assets up to $500
million; 0.60% on assets between $500 million and $1 billion; and 0.575%
on assets in excess of $1 billion.
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4
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Based
on the percentage of the Subadvisor’s Allocated Assets constituting the
Series’ average daily net assets. For reference, the management
fee schedule for MainStay VP Total Return Portfolio is 0.57% on assets up
to $1 billion and 0.55% on assets in excess of $1
billion.
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