0001104659-06-013187 Sample Contracts

INVESTMENT SUB-ADVISORY AGREEMENT NATIONS SEPARATE ACCOUNT TRUST
Sub-Advisory Agreement • March 1st, 2006 • Nations Separate Account Trust • Delaware

THIS AGREEMENT is made as of September 30, 2005, by and between COLUMBIA MANAGEMENT ADVISORS, LLC (formerly, BANC OF AMERICA CAPITAL MANAGEMENT, LLC), a Delaware limited liability company (the “Adviser”), MACKAY SHIELDS LLC, a Delaware limited liability company (the “Sub-Adviser”), and NATIONS SEPARATE ACCOUNT TRUST, a Delaware statutory trust (the “Trust”), on behalf of those series of the Trust now or hereafter identified on Schedule I (each a “Portfolio” and collectively, the “Portfolios”).

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ADMINISTRATION AGREEMENT
Administration Agreement • March 1st, 2006 • Nations Separate Account Trust • Delaware

This ADMINISTRATION AGREEMENT (the “Agreement”) is made and entered into effective as of December 1, 2005 by and between COLUMBIA MANAGEMENT ADVISORS, LLC, a Delaware limited liability company (“CMA”) and NATIONS SEPARATE ACCOUNT TRUST, a Delaware statutory trust (the “Trust”).

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