ADDENDUM TO MANAGEMENT AGREEMENT DATED FEBRUARY 1, 1995 BETWEEN ARIEL INVESTMENTS, LLC (f/k/a/ ARIEL CAPITAL MANAGEMENT, INC.) AND ARIEL INVESTMENT TRUST
DATED FEBRUARY 1, 1995 BETWEEN
ARIEL INVESTMENTS, LLC (f/k/a/ ARIEL CAPITAL MANAGEMENT, INC.)
The series of Ariel Investment Trust (the “Trust”) designated Ariel Discovery Fund (the “Fund”) shall be managed by Ariel Investments, LLC (f/k/a Ariel Capital Management, LLC) (the “Adviser”) pursuant to the Management Agreement between Ariel Capital Management, Inc. and the Trust dated February 1, 1995 with an initial effective date of February 1, 1995, which was assumed by the Adviser pursuant to an Assumption Agreement dated February 1, 2004 between the Adviser and the Trust. The compensation payable out of the Fund pursuant to Section 4(a) of the Agreement shall be at the following annual rates:
| Annual Rate | Value of Average Daily Net Assets | |||
|
1.00%
|
First $500 million | |||
|
0.95%
|
Next $500 million | |||
|
0.90%
|
Over $1 billion |
Dated: November 16, 2010
ARIEL INVESTMENTS, LLC
By: /s/ Xxxxxxx Xxxxxx
Title: President
By: /s/ Xxxxx X. Zagronik
Title: Vice President, CFO
