1
Exhibit (d)(11)(a)
AMENDMENT TO SUBADVISORY AGREEMENT
MANUFACTURERS ADVISER CORPORATION
AMENDMENT made as of this _____ day of _______________, 2000 to the
Subadvisory Agreement dated October 1, 1996 as amended December 31, 1996 (the
"Agreement"), between Manufacturer's Securities Services, LLC, a Delaware
limited partnership (formerly, NASL Financial Services, Inc.) (the "Adviser"),
and Manufacturers Adviser Corporation, a Colorado corporation (the
"Subadviser"). In consideration of the mutual covenants contained herein, the
parties agree as follows:
1. CHANGE IN APPENDIX A
Section 3 of the Agreement, "Compensation of Subadviser," is hereby
amended to increase the fee the Adviser pays to the Subadviser with respect to
the Lifestyle Aggressive 1000 Portfolio, the Lifestyle Growth 820 Portfolio, the
Lifestyle Growth 640 Portfolio, the Lifestyle Moderate 460 Portfolio and the
Lifestyle Conservative 280 Portfolio as specified in Appendix A to this
Amendment:
2. EFFECTIVE DATE
This Amendment shall become effective with respect to each Portfolio on
the later to occur of: (i) approval by shareholders of such Lifestyle portfolio,
(ii) disclosure of the terms of the Amendment in the prospectus of the
Manufacturers Investment Trust, and (iii) execution of the Amendment.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed under seal by their duly authorized officers as of the date first
mentioned above.
MANUFACTURERS SECURITIES SERVICES, LLC
By: The Manufacturers Life Insurance Company of North America, its managing
member
By: ___________________________
Xxxxx X. Xxxxx, President
By: ___________________________
Xxxxx X. Xxxxxxxxx, Vice President,
Secretary and General Counsel
MANUFACTURERS ADVISER CORPORATION
By: ___________________________
Xxxxx Xxxxxx, Vice President
By: ___________________________
Xxxxx X. Xxxxxxxxx, Secretary
2
APPENDIX A
The Subadviser shall serve as investment subadviser for the following
portfolio of the Trust. The Adviser will pay the Subadviser, as full
compensation for all services provided under this Agreement, the fee computed
separately for each such Portfolio at an annual rate as follows (the "Subadviser
Percentage Fee"):
1. Pacific Rim Emerging Markets Portfolio: .400% of the first
$50,000,000, .350% between $50,000,000 and $200,000,000, .275% between
$200,000,000 and $500,000,000 and .225% on the excess over $500,000,000
of the average daily value of the net assets of the Portfolio.
2. Quantitative Equity Portfolio: .275% of the first $50,000,000, .225%
between $50,000,000 and $200,000,000, .175% between $200,000,000 and
$500,000,000 and .150% on the excess over $500,000,000 of the average
daily value of the net assets of the Portfolio.
3. Real Estate Securities Portfolio: .275% of the first $50,000,000,
.225% between $50,000,000 and $200,000,000, .175% between $200,000,000
and $500,000,000 and .150% on the excess over $500,000,000 of the
average daily value of the net assets of the Portfolio.
4. Equity Index Portfolio: .100% of the first $50,000,000, .100%
between $50,000,000 and $200,000,000, .100% between $200,000,000 and
$500,000,000 and .100% on the excess over $500,000,000 of the average
daily value of the net assets of the Portfolio.
5. Money Market Portfolio: .075% of the first $50,000,000, .075%
between $50,000,000 and $200,000,000, .075% between $200,000,000 and
$500,000,000 and .020% on the excess over $500,000,000 of the current
value of the net assets of the Portfolio;
6. Lifestyle Conservative 280 Trust: .075% of the first $100 million of
the average daily value of the net assets of the Portfolio and .05% of
the excess over $100 million.
7. Lifestyle Moderate 460 Trust: .075% of the first $100 million of the
average daily value of the net assets of the Portfolio and .05% of the
excess over $100 million.
8. Lifestyle Balanced 640 Trust: .075% of the first $100 million of the
average daily value of the net assets of the Portfolio and .05% of the
excess over $100 million.
9. Lifestyle Growth 820 Trust: .075% of the first $100 million of the
average daily value of the net assets of the Portfolio and .05% of the
excess over $100 million.
10. Lifestyle Aggressive 1000 Trust: .075% of the first $100 million of
the average daily value of the net assets of the Portfolio and .05% of
the excess over $100 million.
The Subadviser Percentage Fee for each Portfolio shall be accrued for
each calendar day and the sum of the daily fee accruals shall be paid monthly to
the Subadviser. 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 (if any) 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 to the full month in which such effectiveness or termination occurs.
