NORTHWESTERN MUTUAL SERIES FUND, INC.

Exhibit (h)10

NORTHWESTERN MUTUAL SERIES FUND, INC.

000 Xxxx Xxxxxxxxx Xxxxxx

Milwaukee, Wisconsin 53202

April 25, 2007

Xxxxx Street Advisors, LLC

000 Xxxx Xxxxxxxxx Xxxxxx

Milwaukee, WI 53202

Re: Agreement to Pay or Reimburse Certain Expenses

Gentlemen:

This letter constitutes an agreement between Xxxxx Street Advisors, LLC (“MSA”) and Northwestern Mutual Series Fund, Inc. (“NMSF”) as follows:

MSA hereby agrees, through April 30, 2008, to waive its Investment Advisory Fees and/or reimburse certain expenses for the Portfolios specified below to the extent necessary so that each Portfolio’s Total Expenses (excluding taxes, brokerage, other investment-related costs, interest and dividend expenses and charges, and extraordinary expenses) on an annualized basis after the waiver, do not exceed the percentage of average net assets specified below (the “expense cap”), on an annual basis.

Portfolio		Expense Cap
X. Xxxx Price Small Cap Value Portfolio		1.00	%
International Growth Portfolio		1.10	%
Asset Allocation Portfolio		0.75	%
Capital Guardian Domestic Equity Portfolio		0.75	%
Capital Guardian Large Cap Blend Portfolio		0.85	%
American Century Large Company Value Portfolio		0.80	%
American Century Inflation Protection Portfolio		0.65	%
MFS® Research International Core Portfolio		1.15	%
MFS ® Emerging Markets Equity Portfolio		1.50	%
Short-Term Bond Portfolio		0.45	%
Index 600 Portfolio		0.35	%
PIMCO Long-Term Government Bond Portfolio		0.65	%
PIMCO Multi-Sector Bond Portfolio		0.95	%

All capitalized terms used herein shall have the same meanings as they have when used in the currently effective prospectus for NMSF.

Very truly yours,
NORTHWESTERN MUTUAL SERIES FUND, INC.
By:		/s/ XXXX X. XXXXXXX
Name:		Xxxx X. Xxxxxxx
Title:		Vice President

Agreed to and accepted:
XXXXX STREET ADVISORS, LLC
By:		/s/ XXXX X. XXXX
Name:		Xxxx X. Xxxx
Title:		President