Exhibit (d)(9a)
[Willamette Asset Managers, Inc. letterhead]
_______________, 2001
Credit Suisse Asset Management, LLC
One Citicorp Center
000 Xxxx 00xx Xxxxxx
New York, New York 10022
Re: Willamette Global Health Sciences Fund
Gentlemen:
This letter agreement refers to the Sub-Investment Advisory Agreement
("Sub-Advisory Agreement") among Willamette Asset Managers, Inc. ("Adviser"),
Credit Suisse Asset Management, LLC ("Sub-Adviser") and The Willamette Funds, on
behalf of Willamette Global Health Sciences Fund ("Fund"). The Sub-Advisory
Agreement provides that the Adviser shall pay a fee to the Sub-Adviser at the
end of each calendar month computed daily at an annual rate equal to 0.55% of
the Fund's average daily net assets.
The Adviser, under its Investment Advisory Agreement with respect to the
Fund, is entitled to a fee from the Fund that is computed daily at an annual
rate equal to 1.20% of the Fund's average daily net assets. The Adviser intends,
for an indeterminate period of time, to waive an amount of its fee equal to an
annual rate of 0.20% of the Fund's average daily net assets. While this waiver
is in effect, the actual advisory fees paid by the Fund to the Adviser will be
at an annual rate of 1.00% of the Fund's average net assets. The Adviser may
reduce or terminate this fee waiver at any time. By its signature below, the
Sub-Adviser agrees that, for such period as the Adviser, as a result of its
waiver, receives fees from the Fund at an annual rate of 1.00%, the Sub-Adviser
will waive an amount equal to 0.05% of its fees under the Sub-Advisory Agreement
so that the fees to the Sub-Adviser will total 0.50% on an annual basis. At such
time as the Adviser reduces the amount of its waiver, the Sub-Adviser will
reduce the amount of its waiver by one-half the amount of the Adviser's
reduction, to a maximum of 0.05%. At such time as the Adviser, as a result of
reduction in its waiver, is receiving fees from the Fund at an annual rate of
1.10% or more, the Sub-Adviser will receive fees at an annual rate of 0.55%, as
provided in the Sub-Advisory Agreement.
CREDIT SUISSE ASSET MANAGEMENT, LLC
By:_____________________________________
Name/Title
Date:____________________________________
Accepted by:
WILLAMETTE ASSET MANAGERS, INC.
By:_________________________________
Name/Title
