EXHIBIT (d)(14)
SECOND AMENDMENT TO
INVESTMENT SUBADVISORY AGREEMENT
Reference is made to the Investment Subadvisory Agreement, dated as of May
1, 2001, among CitiStreet Funds, Inc., a Maryland corporation (the "Series
Fund"), CitiStreet Funds Management LLC, a New Jersey limited liability company
(the "Manager"), and SSgA Funds Management, Inc., a Massachusetts corporation
(the "Subadviser") with respect to the International Stock Fund (the "Fund")
(the "Subadvisory Agreement") and the First Amendment to the Subadvisory
Agreement, dated as of April 23, 2003 (the "First Amendment").
WHEREAS, the parties desire to amend the Subadvisory Agreement to reduce
the fee rate paid by the Fund.
NOW, THEREFORE, the parties agree as follows:
1. Section 3 of the Subadvisory Agreement is amended and restated to
provide as follows:
The Series Fund shall pay the Subadviser, for the services provided
and the expenses assumed pursuant to this Subadvisory Agreement, a
fee at an annual rate of 0.50% of the average daily Net Allocated
Assets up to and including $50 million, plus a fee at an annual rate
of 0.45% of the average daily Net Allocated Assets over $50 million
and up to and including $150 million, plus a fee at an annual rate
of 0.40% of the average daily Net Allocated Assets over $150
million. The term "Net Allocated Assets" means the Allocated Assets
less related liabilities as determined by the Manager or its
designee. This fee will be computed daily and paid monthly.
2. The First Amendment remains in effect.
3. This amendment may be executed in two or more counterparts, which taken
together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the parties hereto have caused this instrument to be
executed by their officers designated below as of February 17, 2005.
CITISTREET FUNDS, INC.
By: ________________________________
Xxxx X. Xxxxxxxx
President
CITISTREET FUNDS MANAGEMENT LLC
By: ________________________________
Xxxx X. Xxxxxxxx
Executive Vice President
SSgA FUNDS MANAGEMENT, INC.
By: ________________________________
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