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EXHIBIT (5)(a)(4)
NASL SERIES TRUST
AMENDMENT TO ADVISORY AGREEMENT
AMENDMENT made this ____ day _______, 199_, to the Advisory Agreement
dated January 1, 1996, as amended June 20, 1996 and October 1, 1996 between
NASL Series Trust, a Massachusetts business trust (the "Trust") and NASL
Financial Services, Inc., a Massachusetts corporation ("NASL Financial" or the
"Adviser"). In consideration of the mutual covenants contained herein, the
parties agree as follows:
1. CHANGE IN APPENDIX A
Appendix A to this Agreement is revised to reflect the appointment and
compensation of NASL Financial as investment adviser for the
additional portfolios (the "Portfolios") as set forth in Appendix A to
this Amendment.
2. CHANGE IN APPENDIX B
Appendix B to this Agreement is revised to include the Portfolios as
set forth in Appendix B to this Amendment.
3. EFFECTIVE DATE
This Amendment shall become effective with respect to each Portfolio
on the later of (i) the date of its execution, (ii) the effective date of the
post-effective amendment to the registration statement of NASL Series Trust
under the Securities Act of 1933 that incorporates with respect to the
Portfolio the terms of the Agreement as amended herein and (iii) the date of
the meeting of shareholders (or sole shareholder if applicable) of the
Portfolio called for the purpose of voting on this Amendment, at which meeting
this Amendment shall have been approved by the vote of a majority of the
outstanding voting securities (as defined in the Investment Company Act of
1940, as amended) of the Portfolio.
NASL SERIES TRUST
BY:
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NASL FINANCIAL SERVICES, INC.
BY:
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APPENDIX A
1. Global Equity Trust: .90% of the current net assets of the Portfolio.
2. Blue Chip Growth Trust: .925% of the current net assets of the
Portfolio.
3. Equity Trust: .75% of the current net assets of the Portfolio.
4. Equity-Income Trust: .80% of the current net assets of the Portfolio.
5. Growth and Income Trust: .75% of the current net assets of the
Portfolio.
6. Strategic Bond Trust: .775% of the current net assets of the
Portfolio.
7. Global Government Bond Trust: .80% of the current net assets of the
Portfolio.
8. Investment Quality Bond Trust: .65% of the current net assets of the
Portfolio.
9. U.S. Government Securities Trust: .65% of the current net assets of
the Portfolio.
10. Money Market Trust: .50% of the current net assets of the Portfolio.
11. Aggressive Asset Allocation Trust: .75% of the current net assets of
the Portfolio.
12. Moderate Asset Allocation Trust: .75% of the net assets of the
Portfolio.
13. Conservative Asset Allocation Trust: .75% of the net assets of the
Portfolio.
14. International Growth and Income Trust: .95% of the net assets of the
Portfolio.
15. Small/Mid Cap Trust: 1.0% of the net assets of the Portfolio.
16. International Small Cap Trust: 1.10% of the net assets of the
Portfolio.
17. Growth Trust: .85% of the net assets of the Portfolio.
18. Value Trust: .80% of the current net assets of the Portfolio.
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19. High Yield Trust: .775% of the current net assets of the Portfolio.
20. International Stock Trust: 1.05% of the current net assets of the
Portfolio.
21. Science & Technology Trust: 1.10% of the current net assets of the
Portfolio.
22. Balanced Trust: .80% of the current net assets of the Portfolio.
23. Worldwide Growth Trust: 1.00% of the current net assets of the
Portfolio.
24. Emerging Growth Trust: 1.05% of the current net assets of the
Portfolio.
25. Pilgrim Xxxxxx Growth Trust: 1.10% of the current net assets of the
Portfolio.
26. Pacific Rim Emerging Markets Trust: .85% of the current net assets of
the Portfolio.
27. Real Estate Securities Trust: .70% of the current net assets of the
Portfolio.
28. Capital Growth Bond Trust: .65% of the current net assets of the
Portfolio.
29. Equity Index Trust: .25% of the current net assets of the Portfolio.
30. Common Stock Trust: .70% of the current net assets of the Portfolio.
The Percentage Fee for each Portfolio shall be accrued for
each calendar day and the sum of the daily fee accruals shall be payable
monthly to the Adviser. The daily fee accruals will be computed by multiplying
the fraction of one over the number of calendar days in the year by the
applicable annual rate described in the preceding paragraph, and multiplying
this product by the net assets of the Portfolio as determined in accordance
with the Trust's prospectus and statement of additional information as of the
close of business on the previous business day on which the Trust was open for
business.
If this Agreement becomes effective or terminates before the
end of any month, the fee for the period from the effective date to the end of
such month or from the beginning of such month to the date of termination, as
the case may be, shall be prorated according to the proportion which such
period bears
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to the full month in which such effectiveness or termination occurs.
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APPENDIX B
The Expense Limit for each Portfolio for the purposes of
paragraph 2.d.i(C) shall be .50% for each Portfolio except the following:
Portfolio Percent
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Global Equity Trust .75%
Global Government Bond Trust .75%
International Growth and Income Trust .75%
International Small Cap Trust .75%
International Stock Trust .75%
Worldwide Growth Trust .75%
Pacific Rim Emerging Markets Trust .75%
Equity Index .15%
