SUB-ADVISORY AGREEMENTSub-Advisory Agreement • March 20th, 2008 • Maxim Series Fund Inc • Colorado
This Sub-Advisory Agreement (this “Agreement") is made this 1st day of March 2008 by and between GW Capital Management, LLC, a Colorado limited liability company and registered investment adviser under the Investment Advisers Act of 1940 (the “Adviser"), INVESCO Institutional (N.A.), Inc., a corporation organized under the laws of Delaware and registered investment adviser under the Investment Advisers Act of 1940 (the “Sub-adviser") and Maxim Series Fund, Inc., a Maryland corporation and registered investment company under the Investment Company Act of 1940 (the “Fund”). This Agreement describes the arrangement whereby the Sub-adviser will act as an investment adviser to the portfolios of the Fund (the “Portfolios”) listed in Schedule A, attached hereto and commencing on the dates set forth therein, in conjunction with the Adviser, as follows:
