SCHEDULE A
XXXXX FARGO FUNDS MANAGEMENT
INVESTMENT ADVISORY AGREEMENT
XXXXX FARGO MASTER TRUST
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Master Trust Portfolios Advisory Fee (as a % of Average
Daily Net Assets)
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C&B Large Cap Value Portfolio(1) First 500M 0.75
Next 500M 0.70
Next 2B 0.65
Next 2B 0.625
Over 5B 0.60
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Disciplined Growth Portfolio(2) First 500M 0.75
Next 500M 0.70
Next 2B 0.65
Next 2B 0.625
Over 5B 0.60
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Diversified Fixed Income Portfolio First 1B 0.30
Next 4B 0.275
Over 5B 0.25
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Diversified Stock Portfolio First 1B 0.35
Next 4B 0.325
Over 5B 0.30
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Emerging Growth Portfolio(3) First 500M 0.90
Next 500M 0.85
Next 2B 0.80
Next 2B 0.775
Over 5B 0.75
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Equity Income Portfolio(4) First 500M 0.75
Next 500M 0.70
Next 2B 0.65
Next 2B 0.625
Over 5B 0.60
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Equity Value Portfolio(5) Next 500M 0.70
Next 2B 0.65
Next 2B 0.625
Over 5B 0.60
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Index Portfolio First 500M 0.10
Next 500M 0.10
Next 2B 0.075
Next 2B 0.075
Over 5B 0.050
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Inflation-Protected Bond Portfolio First 500M 0.45
Next 500M 0.40
Next 2B 0.35
Next 2B 0.325
Over 5B 0.30
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International Core Portfolio First 500M 0.95
Next 500M 0.90
Next 2B 0.85
Next 2B 0.825
Over 5B 0.80
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International Growth Portfolio First 500M 0.95
Next 500M 0.90
Next 2B 0.85
Next 2B 0.825
Over 5B 0.80
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International Index Portfolio First 500M 0.35
Next 500M 0.35
Next 2B 0.325
Next 2B 0.325
Over 5B 0.30
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International Value Portfolio First 500M 0.95
Next 500M 0.90
Next 2B 0.85
Next 2B 0.825
Over 5B 0.80
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Large Cap Appreciation Portfolio(6) First 500M 0.70
Next 500M 0.70
Next 2B 0.65
Next 2B 0.625
Over 5B 0.60
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Large Company Growth Portfolio(7) First 500M 0.75
Next 500M 0.70
Next 2B 0.65
Next 2B 0.625
Over 5B 0.60
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Managed Fixed Income Portfolio First 500M 0.45
Next 500M 0.40
Next 2B 0.35
Next 2B 0.325
Over 5B 0.30
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Money Market Portfolio 0.10
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Small Cap Index Portfolio First 500M 0.20
Next 500M 0.20
Next 2B 0.175
Next 2B 0.175
Over 5B 0.15
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Small Company Growth Portfolio(8) First 500M 0.90
Next 500M 0.85
Next 2B 0.80
Next 2B 0.775
Over 5B 0.75
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Small Company Value Portfolio(9) First 500M 0.90
Next 500M 0.85
Next 2B 0.80
Next 2B 0.775
Over 5B 0.75
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Stable Income Portfolio First 500M 0.45
Next 500M 0.40
Next 2B 0.35
Next 2B 0.325
Over 5B 0.30
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Strategic Small Cap Value Portfolio(10) First 500M 0.90
Next 500M 0.85
Next 2B 0.80
Next 2B 0.775
Over 5B 0.75
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Total Return Bond Portfolio First 500M 0.45
Next 500M 0.40
Next 2B 0.35
Next 2B 0.325
Over 5B 0.30
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Most recent annual approval by the Board of Trustees: March 30, 2007
Schedule A amended: March 30, 2007
The foregoing fee schedule is agreed to as of March 30, 2007 and shall
remain in effect until changed in writing by the parties.
XXXXX FARGO MASTER TRUST
By: /s/ X. Xxxxx Xxxxxxx
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X. Xxxxx Xxxxxxx
Secretary
XXXXX FARGO FUNDS MANAGEMENT, LLC
By: Xxxxxx Xxxx
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Xxxxxx Xxxx
Executive Vice President
(1) On March 30, 2007, the Board of Trustees approved an advisory fee
reduction to the C&B Large Cap Value Portfolio. Effective February
1, 2008, the advisory fees will be as follows: first 500 million
0.70%; next 500 million 0.65%; next 2 billion 0.60%; next 2
billion 0.575%; and over 5 billion 0.55%.
(2) On March 30, 2007, the Board of Trustees approved an advisory fee
reduction to the Disciplined Growth Portfolio. Effective February
1, 2008, the advisory fees will be as follows: first 500 million
0.70%; next 500 million 0.65%; next 2 billion 0.60%; next 2
billion 0.575%; and over 5 billion 0.55%.
(3) On March 30, 2007, the Board of Trustees approved an advisory fee
reduction to the Emerging Growth Portfolio. Effective February 1,
2008, the advisory fees will be as follows: first 500 million
0.85%; next 500 million 0.825%; next 1 billion 0.80%; next 1
billion 0.775%; and over 3 billion 0.75%.
(4) On March 30, 2007, the Board of Trustees approved an advisory fee
reduction to the Equity Income Portfolio. Effective February 1,
2008, the advisory fees will be as follows: first 500 million
0.70%; next 500 million 0.65%; next 2 billion 0.60%; next 2
billion 0.575%; and over 5 billion 0.55%.
(5) On March 30, 2007, the Board of Trustees approved an advisory fee
reduction to the Equity Value Portfolio. Effective February 1,
2008, the advisory fees will be as follows: first 500 million
0.70%; next 500 million 0.65%; next 2 billion 0.60%; next 2
billion 0.575%; and over 5 billion 0.55%.
(6) On March 30, 2007, the Board of Trustees approved an advisory fee
reduction to the Large Cap Appreciation Portfolio. Effective
February 1, 2008, the advisory fees will be as follows: first 500
million 0.70%; next 500 million 0.65%; next 2 billion 0.60%; next
2 billion 0.575%; and over 5 billion 0.55%.
(7) On March 30, 2007, the Board of Trustees approved an advisory fee
reduction to the Large Company Growth Portfolio. Effective
February 1, 2008, the advisory fees will be as follows: first 500
million 0.70%; next 500 million 0.65%; next 2 billion 0.60%; next
2 billion 0.575%; and over 5 billion 0.55%.
(8) On March 30, 2007, the Board of Trustees approved an advisory fee
reduction to the Small Company Growth Portfolio. Effective
February 1, 2008, the advisory fees will be as follows: first 500
million 0.85%; next 500 million 0.825%; next 1 billion 0.80%; next
1 billion 0.775%; and over 3 billion 0.75%.
(9) On March 30, 2007, the Board of Trustees approved an advisory fee
reduction to the Small Company Value Portfolio. Effective February
1, 2008, the advisory fees will be as follows: first 500 million
0.85%; next 500 million 0.825%; next 1 billion 0.80%; next 1
billion 0.775%; and over 3 billion 0.75%.
(10) On March 30, 2007, the Board of Trustees approved an advisory
fee reduction to the Strategic Small Cap Value Portfolio.
Effective February 1, 2008, the advisory fees will be as follows:
first 500 million 0.85%; next 500 million 0.825%; next 1 billion
0.80%; next 1 billion 0.775%; and over 3 billion 0.75%.