Ex-99.(d)(2)(ix)
Xxxxx Fargo Master Trust -- International Growth Portfolio
APPENDIX A
ARTISAN INVESTMENT SUB-ADVISORY AGREEMENT
XXXXX FARGO MASTER TRUST
Master Trust Funds
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International Growth Portfolio
Most recent annual approval by the Board of Trustees: March 26, 2010
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Xxxxx Fargo Master Trust -- International Growth Portfolio
APPENDIX B
ARTISAN INVESTMENT SUB-ADVISORY AGREEMENT
FEE AGREEMENT
XXXXX FARGO MASTER TRUST
This fee agreement is made as of the 6th day of October, 2004, by and
between Xxxxx Fargo Master Trust (the "Trust"), Xxxxx Fargo Funds Management,
LLC (the "Adviser") and Artisan Partners Limited Partnership (the
"Sub-Adviser").
WHEREAS, the parties have entered into an Investment Sub-Advisory Agreement
("Sub-Advisory Agreement") whereby the Sub-Adviser provides management and
other services to each series of the Trust listed in Appendix A to the
Sub-Advisory Agreement (each a "Fund" and collectively the "Funds"); and
WHEREAS, the Sub-Advisory Agreement provides that the fees to be paid to the
Sub-Adviser are to be as indicated on this Appendix B;
NOW THEREFORE, the parties agree that the fees to be paid to the Sub-Adviser
under the Sub-Advisory Agreement shall be calculated and paid on a monthly
basis by applying the annual rates indicated below to the Fund's average daily
net assets throughout the month:
Name of Fund Sub-Advisory Rate/1/
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International Growth Portfolio First 50M 0.80%
Next 200M 0.60%
Over 250M 0.50%
If the Sub-Adviser shall provide management and other services for less than
the whole of a month, the foregoing compensation shall be prorated based on the
number of days in the month that such Sub-Adviser provided management and other
services to the Funds.
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/1/ On March 26, 2010, the Board of Trustees approved sub-advisory fee changes
for the International Growth Portfolio. Effective April 1, 2010 the prior
sub-advisory rates of 0.70% for the First 50M and 0.50% Over 250M will
change to the sub-advisory rates provided in the table.
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Xxxxx Fargo Master Trust -- International Growth Portfolio
The foregoing fee schedule is agreed to as of April 1, 2010 and shall remain
in effect until changed in writing by the parties.
XXXXX FARGO MASTER TRUST
on behalf of the Fund
By:
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X. Xxxxx Xxxxxxx
Secretary
XXXXX FARGO FUNDS MANAGEMENT, LLC
By:
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Xxxxxx Xxxx
Executive Vice President
ARTISAN PARTNERS LIMITED
PARTNERSHIP
By Artisan Investment Corporation,
its general partner
By:
-----------------------------
Name:
Title:
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