EXHIBIT (d)(12)
MAINSTAY VP SERIES FUND, INC.
INVESTMENT ADVISORY
AGREEMENT SUPPLEMENT
BOND PORTFOLIO
AGREEMENT made as of the 15th day of December 1996, by and between
Mainstay VP Series Fund, Inc. (the "Company") and New York Life Insurance
Company (the "Adviser").
WHEREAS, the Company is an open-end management investment company,
organized as a Maryland corporation, and consists of such separate investment
series as have been or may be established and designated by the Directors of the
Company from time to time;
WHEREAS, a separate class of shares of the Company is offered to investors
with respect to each investment series;
WHEREAS, the Company has adopted a Master Investment Advisory Agreement
("Master Agreement") dated December 15, 1996, pursuant to which the Company has
appointed the Adviser to provide the investment advisory services specified in
that Master Agreement; and
WHEREAS, Bond Portfolio (the "Fund") is a separate investment series of
the Company.
NOW, THEREFORE, the Directors of the Company hereby take the following
actions, subject to the conditions set forth:
1. As provided for in the Master Agreement, the Company hereby adopts
the Master Agreement with respect to the Fund, and the Adviser hereby
acknowledges that the Master Agreement shall pertain to the Fund, the terms and
conditions of such Master Agreement being hereby incorporated herein by
reference.
2. The term "Fund" as used in the Agreement shall, for purposes of this
Supplement, pertain to the Fund.
3. As provided in the Master Agreement and subject to - further
conditions as set forth therein, the Fund shall pay the Adviser a monthly fee
based upon the average daily value (as determined on each business day at the
time set forth in the Prospectus for determining net asset value per share) of
the net assets of the Fund during the preceding month at the annual rate of
0.25% of the Fund's average daily net assets.
4. This Supplement and the Master Agreement (together, the "Agreement")
shall become effective with respect to the Fund on December 15, 1996 and shall
continue in effect with respect to the Fund for a period of one year from the
date hereof and from year to year
thereafter, but only so long as such continuance is specifically approved at
least annually in conformity with the requirements of the Investment Company Act
of 1940 (the "1940 Act") and the rules thereunder. This Agreement may be
terminated with respect to the Fund at any time, without payment of any penalty,
by vote of a majority of the outstanding voting securities of the Fund (as
defined in the 0000 Xxx) or by vote of a majority of the Company's Board of
Directors, or by the Adviser at any time, without the payment of any penalty, on
not more than sixty (60) days' nor less than thirty (30) days' written notice to
the other party. This Agreement shall terminate automatically in the event of
its assignment (as defined in the 1940 Act).
MAINSTAY VP SERIES FUND, INC., on behalf
of BOND PORTFOLIO
By: ____________________________________
Name:
Title:
NEW YORK LIFE INSURANCE COMPANY
By: ____________________________________
Name:
Title:
MAINSTAY VP SERIES FUND, INC.
INVESTMENT ADVISORY
AGREEMENT SUPPLEMENT
GROWTH EQUITY PORTFOLIO
AGREEMENT made as of the 15th day of December 1996, by and between
Mainstay VP Series Fund, Inc. (the "Company") and New York Life Insurance
Company (the "Adviser" ).
WHEREAS, the Company is an open-end management investment company,
organized as a Maryland corporation, and consists of such separate investment
series as have been or may be established and designated by the Directors of the
Company from time to time;
WHEREAS, a separate class of shares of the Company is offered to investors
with respect to each investment series;
WHEREAS, the Company has adopted a Master Investment Advisory Agreement
("Master Agreement") dated December 15, 1996, pursuant to which the Company has
appointed the Adviser to provide the investment advisory services specified in
that Master Agreement; and
WHEREAS, the Growth Equity Portfolio (the "Fund") is a separate investment
series of the Company.
NOW, THEREFORE, the Directors of the Company hereby take the following
actions, subject to the conditions set forth:
1. As provided for in the Master Agreement, the Company hereby adopts
the Master Agreement with respect to the Fund, and the Adviser hereby
acknowledges that the Master Agreement shall pertain to the Fund, the terms and
conditions of such Master Agreement being hereby incorporated herein by
reference.
2. The term "Fund" as used in the Agreement shall, for purposes of this
Supplement, pertain to the Fund.
3. As provided in the Master Agreement and subject to further
conditions as sec forth therein, the Fund shall pay the Adviser a monthly fee
based upon the average daily value (as determined on each business day at the
time set forth in the Prospectus for determining net asset value per share) of
the net assets of the Fund during the preceding month at the annual rate of
0.25% of the Fund's average daily net assets.
4. This Supplement and the Master Agreement (together, the "Agreement")
shall become effective with respect to the Fund on December 15, 1996 and shall
continue in effect with respect to the Fund for a period of one year from the
date hereof and from year to year thereafter, but only so long as such
continuance is specifically approved at least annually in
conformity with the requirements of the Investment Company Act of 1940 (the
"1940 Act") and the rules thereunder. This Agreement may be terminated with
respect to the Fund at any time, without payment of any penalty, by vote of a
majority of the outstanding voting securities of the Fund (as defined in the
0000 Xxx) or by vote of a majority of the Company's Board of Directors, or by
the Adviser at any time, without the payment of any penalty, on not more than
sixty (60) days' nor less than thirty (30) days' written notice to the other
party. This Agreement shall terminate automatically in the event of its
assignment (as defined in the 1940 Act).
MAINSTAY VP SERIES FUND, INC., on behalf
of GROWTH EQUITY PORTFOLIO
By: ____________________________________
Name:
Title:
NEW YORK LIFE INSURANCE COMPANY
By: _____________________________________
Name:
Title:
