July 1, 2009 Norm Sidler National Investment Services, Inc. 737 North Michigan Avenue, Suite 15200 Chicago, IL 60611-6653Referral Arrangement • August 11th, 2009 • Titanium Asset Management Corp • Investment advice • Delaware
Attalus Capital, L.P. (the “Manager”) has been pleased to work with National Investment Services, Inc. (“NIS”) during these past several years and we look forward to continuing our excellent relationship with NIS for many years to come. The purpose of this letter is to agree that the Amended and Restated Investment Sub-Advisory Agreement dated as of December 1, 2006 by and between the Manager and NIS (“Sub-Advisory Agreement”) will govern and supercede all past joint business and past agreements (amended, restated and/or otherwise) between the two parties, including all additional subscriptions made by such past joint business and that this document will govern all new joint business commencing on and after the date of this letter agreement (“Agreement”).
