SUBADVISORY AGREEMENT
ADDENDUM TO SCHEDULE A
Schedule A of the Subadvisory Agreement dated October 1, 2001 by and between
American Express Financial Corporation and Royce & Associates, Inc. is amended
as follows:
Effective February 15, 2002, compensation pursuant to Paragraph 4 of
Subadvisory Agreement shall be calculated in accordance with the following
schedule:
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Average Daily Net Assets* Rate
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$0-$50 million .80%
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$50-$100 million .75%
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$100-$150 million .70%
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$150-$200 million .65%
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$200-$250 million .60%
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$250-$300 million .55%
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$300 + .50%
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Dated: February 15, 2002
* Applies to average daily net assets that are subject to the Subadvisor's
investment discretion.
American Express Financial Corporation Royce & Associates, Inc.
By: /s/ Xxxxxx X. Xxxxxxxx By: /s/ Xxxxxxx X. Xxxxx
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Xxxxxx X. Xxxxxxxx Xxxxxxx X. Xxxxx
Vice President- President
Director of Marketing
