0001193125-04-027056 Sample Contracts

INVESTMENT SUB-ADVISORY AGREEMENT for MassMutual Inflation-Protected Bond Fund
Investment Sub-Advisory Agreement • February 20th, 2004 • Massmutual Institutional Funds • Massachusetts

This Investment Sub-Advisory Agreement (this “Sub-Advisory Agreement”), is by and between David L. Babson & Company Inc. (the “Sub-Adviser”) and Massachusetts Mutual Life Insurance Company, a mutual life insurance company organized under the laws of the Commonwealth of Massachusetts (“MassMutual”), for the MassMutual Inflation-Protected Bond Fund (the “Fund”), a series of MassMutual Institutional Funds (the “Trust”), a Massachusetts business trust which is an open-end diversified management investment company registered as such with the Securities and Exchange Commission (the “Commission”) pursuant to the Investment Company Act of 1940, as amended (the “Act”), effective as of the 31st day of December, 2003.

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INVESTMENT SUB-ADVISORY AGREEMENT for MassMutual Aggressive Growth Fund
Sub-Advisory Agreement • February 20th, 2004 • Massmutual Institutional Funds • Massachusetts

This Investment Sub-Advisory Agreement (this “Sub-Advisory Agreement”), is by and between Sands Capital Management, Inc. (the “Sub-Adviser”) and Massachusetts Mutual Life Insurance Company, a mutual life insurance company organized under the laws of the Commonwealth of Massachusetts (“MassMutual”), for the MassMutual Aggressive Growth Fund (the “Fund”), a series of MassMutual Institutional Funds (the “Trust”), a Massachusetts business trust which is an open-end diversified management investment company registered as such with the Securities and Exchange Commission (the “Commission”) pursuant to the Investment Company Act of 1940, as amended (the “Act”), effective as of the 9th day of February, 2004.

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