0000898432-09-001008 Sample Contracts

SUBADVISORY AGREEMENT
Subadvisory Agreement • August 6th, 2009 • Federated Core Trust III • Pennsylvania

This Subadvisory Agreement (this “Agreement”) is entered into as of 1 September, 2008, among Federated Investment Management Company, a Delaware statutory trust (“Adviser”), Federated Core Trust III (the “Trust”), on behalf of it series portfolio, the Federated Project and Trade Finance Core Fund (the “Fund”), and GML Capital LLP, a limited liability partnership incorporated in England and Wales (“Subadviser”).

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