EXHIBIT 99.(d)(8)
XXXXXX XXXXXXX INSTITUTIONAL FUND, INC.
AMENDMENT TO INVESTMENT ADVISORY AGREEMENT
EMERGING MARKETS PORTFOLIO
AMENDMENT (the "Amendment") to INVESTMENT ADVISORY AGREEMENT, dated as of
May 1, 1997 by and between Xxxxxx Xxxxxxx Institutional Fund, Inc. (the "Fund")
and Xxxxxx Xxxxxxx Asset Management Inc. (now known as Xxxxxx Xxxxxxx Investment
Management Inc.) (the "Adviser") (the "Agreement").
RECITALS
WHEREAS, the Fund has executed and delivered the Agreement, which sets
forth the rights and obligations of the parties with respect to the management
of the portfolios of the Fund.
WHEREAS, the Fund and the Adviser have agreed to change the management
fee of the Emerging Markets Portfolio (the "Portfolio").
AGREEMENTS
Now, therefore, the parties agree as follows:
The compensation of the Adviser as set forth in Paragraph 3 of the
Agreement with respect to the Portfolio will be as set forth below:
PORTFOLIO CONTRACTUAL RATE OF ADVISORY FEES
--------- ---------------------------------
Emerging Markets Portfolio 1.25% for the first $1 billion
1.20% for the second $1 billion
1.00% for assets in excess of $2 billion
This Amendment may be executed in any number of counterparts, each of which
so executed shall be deemed to be an original, but all such counterparts shall
together constitute but one and the same instrument.
The parties listed below have executed this Amendment as of the 1st day of
May, 2004.
XXXXXX XXXXXXX INVESTMENT XXXXXX XXXXXXX INSTITUTIONAL
MANAGEMENT INC. FUND, INC.
/s/ Xxxxxxxx X. Xxxxx /s/ Xxxxxx X. Xxxxxxx
--------------------------------- ---------------------------------
Name: Xxxxxxxx X. Xxxxx Name: Xxxxxx X. Xxxxxxx
Title: President Title: Executive Vice President and
Principal Executive Officer