Amendment to Investment Advisory Agreement dated July 31, 1996
between Bankers Finance Advisors, LLC and Mosaic (formerly GIT)
Income Trust
Effective May 12, 1997, the first paragraph of Section 6 of the
Agreement shall be and hereby is revised to reflect the addition
of the Mosaic Bond Fund pursuant to shareholder vote on May 29,
1997 to read as follows:
"6. Compensation to the Advisor. For its services
hereunder, the Trust shall pay to the advisor a management fee
equal to five-eighths (5/8) percent per annum of the average
daily net assets of each of the portfolios of the Trust other
than the Mosaic Bond Fund. As of this date, such management fee
shall be payable hereunder with respect to the portfolios
comprising the following series of shares: The Government Fund
Shares and the High Yield Fund Shares. With respect to the
Mosaic Bond Fund series of shares, the Trust shall pay to the
advisor a management fee equal to one-half (1/2) percent per
annum of the average daily net assets of such portfolio. Such
fees shall be payable monthly as of the last day of the month and
shall be the sum of the daily fees calculated as one-three
hundred sixty-fifth (1/365), except in leap years one-three
hundred sixty-sixth (1/366), of the annual fee based upon each
portfolio's assets calculated for the day."
