Exhibit 99.23(d)
ADDENDUM TO MANAGEMENT AGREEMENT
BETWEEN LORD XXXXXX SECURITIES TRUST AND
LORD, XXXXXX & CO. LLC
DATED MAY 19, 1993 (THE "AGREEMENT")
Effective March 1, 2004, Lord, Xxxxxx & Co. LLC and Lord Xxxxxx Securities
Trust (the "Trust") on behalf of a series of the Trust, Alpha Series ("Series"),
do hereby agree that the annual management fee rate for the Series with respect
to paragraph 2 of the Agreement shall be reduced from .50 of 1% of the value of
the Series' average daily net assets to .10 of 1% of the Series' average daily
net assets, provided that such management fee charged is based on services
provided that are in addition to, rather than duplicative of, services provided
pursuant to the advisory contract for any "acquired company." Since Alpha Series
(as an "acquiring company") is permitted to invest in shares of another
investment company (an "acquired company") that is in the same "group of
investment companies" as the Alpha Series, the terms quoted in this sentence
shall have the same meaning (which shall be incorporated by reference into this
addendum) as provided under Section 12(d)(1)(G) of the Investment Company Act of
1940, as amended (the "Act"). In addition, the parties hereby agree that the
repayment provisions pursuant to paragraph 5 of the Agreement shall not be
applicable to the Series.
For purposes of Section 15 (a) of the Act, this Addendum and the Agreement
shall together constitute the investment advisory contract of the Series.
LORD, XXXXXX & CO. LLC
By: /s/ XXXX X. XXXXXXX
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Xxxx X. Xxxxxxx, Member
LORD XXXXXX SECURITIES TRUST
(on behalf of Alpha Series)
By: /s/ XXXXXXXX X. XXXXXX
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Xxxxxxxx X. Xxxxxx,
Vice President and Assistant Secretary
Dated: March 11, 2004
