December 9, 2011
Exhibit (d)(xvii)
December 9, 2011
Xxxxxxxxx Xxxxxx Management LLC
Attention: Xxxxxx Xxxxxx
000 Xxxxx Xxxxxx
New York, NY 10158
Re: Amendment to Schedule B
Dear Xx. Xxxxxx:
This letter agreement serves to amend Schedule B (“Schedule B”) to our investment sub-advisory agreement, dated May 4, 2009, (the “Agreement”).
The amended Schedule B reflects the new breakpoints with respect to the sub-advisory fees. Amended Schedule B shall replace the existing Schedule B.
The Agreement otherwise remains unchanged and shall continue in full force and effect.
In the space provided below, please acknowledge your agreement to the foregoing.
Very truly yours, | ||
Xxxxxxx Xxxxxx Investment Management, Inc. | ||
By: | /s/ Xxxxx Xxxxxxxx | |
Name: | Xxxxx Xxxxxxxx | |
Title: | President and Chief Executive Officer |
ACKNOWLEDGED AND AGREED TO:
Xxxxxxxxx Xxxxxx Management LLC | ||
By: | /s/ Xxxxxx Xxxxx | |
Name: | Xxxxxx Xxxxx | |
Title: | President |
SCHEDULE B
TO THE
INVESTMENT SUB-ADVISORY AGREEMENT
BETWEEN
XXXXXXX XXXXXX INVESTMENT MANAGEMENT, INC.
AND
XXXXXXXXX XXXXXX MANAGEMENT LLC
FEES
Fees will be accrued each day by applying to the Net Asset Value of the Managed Assets at the end of that day, the daily rate, using a 365-day year, equivalent to the applicable fee percentage set forth below (“Company Percentage”). Fees will be paid within 30 days following the end of each calendar quarter.
COMPANY PERCENTAGE
50 Basis Points on assets up to $300 million.
40 Basis Points on assets over $300 million.
The maximum amount of Managed Assets that may be held in the account is $200 million. Additional capacity over $200 million is solely at the discretion of the Sub-Adviser.
Effective Date of this Schedule B: January 1, 2012