TRUST FOR CREDIT UNIONS
ADDENDUM NO. 2 TO THE INVESTMENT ADVISORY AGREEMENT
This Addendum, dated as of the 30th day of June, 1993, is entered into
between TRUST FOR CREDIT UNIONS (the "Trust"), a Massachusetts business trust,
and XXXXXXX, XXXXX & CO. (the "Adviser"), a New York limited partnership.
WHEREAS, the Trust and the Adviser have entered into an Investment Advisory
Agreement dated as of June 20, 1991 (the "Advisory Agreement") and Addendum No.
1 thereto dated October 6, 1992, pursuant to which the Trust has appointed the
Adviser to act as investment adviser to the Trust for the Money Market
Portfolio, Government Securities Portfolio and Mortgage Securities Portfolio;
WHEREAS, Section 1(b) of the Advisory Agreement provides that in the event
the Trust establishes one or more additional investment portfolios with respect
to which it desires to retain the Adviser to act as investment adviser under the
Advisory Agreement, the Trust shall so notify the Adviser in writing and if the
Adviser is willing to render such services it shall notify the Trust in writing;
and
WHEREAS, pursuant to Section 1(b) of the Advisory Agreement, the Trust has
notified the Adviser that it is establishing the TCU Target Maturity Portfolio
(1996) (the "Portfolio"), and that it desires to retain the Adviser to act as
the investment adviser therefore, and the Adviser has notified the Trust that it
is willing to serve as investment adviser for the Portfolio;
NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby
agree as follows:
1. APPOINTMENT. The Trust hereby appoints the Adviser to act as
investment adviser to the Trust for the Portfolio for the period and
on the terms set forth in the Advisory Agreement. The Adviser hereby
accepts such appointment and agrees to render the services set forth
in the Advisory Agreement for the compensation herein provided.
2. COMPENSATION. For the services provided and the expenses assumed
pursuant to the Advisory Agreement, the Trust will pay the Adviser,
and the Adviser will accept as full compensation therefor from the
Trust, a fee at an annual rate of .25% of the Portfolio's average
daily net assets. The fee will be computed based on net assets on
each day and will be paid to the Adviser monthly. Such fee is
attributable to the Portfolio, shall be a charge to such Portfolio and
shall be the obligation of such Portfolio.
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3. CAPITALIZED TERMS. From and after the date hereof, the term
"Portfolios" as used in the Advisory Agreement shall be deemed to
include the TCU Target Maturity Portfolio (1996). Capitalized terms
used herein and not otherwise defined shall be the meanings ascribed
to them in the Advisory Agreement.
4. MISCELLANEOUS. Except to the extent supplemented hereby, the Advisory
Agreement shall remain unchanged and in full force and effect, and is
hereby ratified and confirmed in all respects as supplemented hereby.
IN WITNESS WHEREOF, the undersigned have executed this Addendum as of the
date and year first above written.
TRUST FOR CREDIT UNIONS
Attest: Xxxxx Xxxxx By: Xxxxx X. Xxxxxx
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Xxxxx X. Xxxxxx
Vice President of the Trust
XXXXXXX, XXXXX & CO.
Attest: Xxxxxxx Xxxxxx By: Xxxxxxx X. Xxxxxxxxx
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General Partner
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