SUB-ADVISORY AGREEMENT THIS AGREEMENT is made between Michigan National Bank, a national banking association (hereinafter referred to as "Adviser") and Sosnoff Sheridan Corporation, an Illinois corporation located in Chicago, Illinois (hereinafter...Sub-Advisory Agreement • June 26th, 1998 • Independence One Mutual Funds • Michigan
Advisor will pay Sub-Adviser as full compensation for services rendered hereunder, an annual fee at the rate of 0.05% based on the average daily value of the equity securities in the Fund. The fee shall be calculated as determined by the Fund on the last day of each month on which the New York Stock Exchange is open and shall be payable on a monthly basis, in arrears.This Exhibit duly incorporates by reference the Sub-Advisory Agreement.Adviser: (initials)Sub-adviser: (initials)
