INVESTMENT ADVISORY AGREEMENT
AGREEMENT made this 21st day of December, 1992, by and between DFA
INVESTMENT DIMENSIONS GROUP INC., a Maryland corporation (the "Fund") and
DIMENSIONAL FUND ADVISORS INC., a Delaware corporation (the "Advisor").
Duties of Advisor
The Fund hereby employs the Advisor to manage the investment and
reinvestment of the assets of The DFA Real Estate Securities Portfolio of the
Fund (the "Portfolio") , to continuously review, supervise and administer the
Portfolio's investment program, to determine in its discretion the securities to
be purchased or sold and the portion of the Portfolio's assets to be uninvested,
to provide the Fund with records concerning the Advisor's activities which the
Fund is required to maintain, and to render regular reports to the Fund's
officers and the Board of Directors of the Fund, all in compliance with the
objectives, policies and limitations set forth in the Fund's prospectus and
applicable laws and regulations. The Advisor accepts such employment and agrees
to provide, at its own expense, the office space, furnishings and equipment and
the personnel required by it to perform the services described herein on the
terms and for the compensation provided herein.
Portfolio Transactions
The Advisor is authorized to select the brokers or dealers that will
execute the purchases and sales of portfolio securities f or the Portfolio and
is directed to use its best efforts to obtain the best available price and most
favorable execution, except as prescribed herein. It is understood that the
Advisor will not be deemed to have acted unlawfully, or to have breached a
fiduciary duty to the Fund or in respect of the Portfolio, or be in breach of
any obligation owing to the Fund or in respect of the Portfolio under this
Agreement, or otherwise, solely by reason of its having caused the Portfolio to
pay a member of a securities exchange, a broker or a dealer a commission f or
effecting a securities transaction for the Portfolio in excess of the amount of
commission another member of an exchange, broker or dealer would have charged if
the Advisor determines in good faith that the commission paid was reasonable in
relation to the brokerage or research services provided by such member, broker
or dealer, viewed in terms of that particular transaction or the Advisor's
overall responsibilities with respect to its accounts, including the Fund, as to
which it exercises investment discretion. The Advisor will promptly communicate
to the officers and directors of the Fund such information relating to
transactions for the Portfolio as they may reasonably request.
Compensation of the Advisor
For the services to be rendered by the Advisor as provided in Section
1 of this Agreement, the Fund shall pay to the Advisor, at the end of each
month, a fee equal to one-twelfth of .325 percent of the net assets of the
Portfolio. In the event that this Agreement is terminated at other than a
month-end, the fee for such month shall be prorated.
Other Services
At the request of the Fund, the Advisor, in its discretion, may make
available to the Fund office facilities, equipment, personnel and other
services. Such office facilities, equipment, personnel and service shall be
provided for or rendered by the Advisor and billed to the Fund at the Advisor's
cost and, where applicable, the cost thereof shall be apportioned among the
several Portfolios of the Fund proportionate to their respective utilization
thereof.
Reports
The Fund and the Advisor agree to furnish to each other information
with regard to their respective affairs as each may reasonably request.
Status of the Advisor
The services of the Advisor to the Fund or in respect of the
Portfolio, are not to be deemed exclusive, and the Advisor shall be free to
render similar services to others as long as its services to the Fund or in
respect of the Portfolio, are not impaired thereby. The Advisor shall be deemed
to be an independent contractor and shall, unless otherwise expressly provided
or authorized, have no authority to act for or represent the Fund in any way or
otherwise be deemed an agent of the Fund.
Liability of Advisor
No provision of this Agreement shall be deemed to protect the Advisor
against any liability to the Fund or its shareholders to which it might
otherwise be subject by reason of willful misfeasance, bad faith or gross
negligence in the performance of its duties or the reckless disregard of its
obligations under this Agreement.
Permissible Interests
Subject to and in accordance with the charters of the Fund and the
Advisor, respectively, directors, officers, and shareholders of the Fund are or
may be interested in the Advisor
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(or any successor thereof) as directors, officers or shareholders, or otherwise;
directors, officers, agents and shareholders of the Advisor are or may be
interested in the Fund as directors, officers, shareholders or otherwise; and
the Advisor (or any successor) is or may be interested in the Fund as a
shareholder or otherwise and the effect of any such interrelationships shall be
governed by said charters and the provisions of the Investment Company Act of
1940.
Duration and Termination
This Agreement shall become effective on September 21, 1992 (the
"Effective Date") and shall continue in effect until December 31, 1992, and
thereafter, only if such continuance is approved at least annually by a vote of
the Fund's Board of Directors,, including the vote of a majority of the
directors who are not parties to this Agreement or interested persons of any
such party, cast in person, at a meeting called for the purpose of voting such
approval. In addition, the question of continuance of this Agreement may be
presented to the shareholders of the Fund; in such event, such continuance shall
be effected only if approved by the affirmative vote of the holders of a
majority of the outstanding voting securities of the Portfolio.
This Agreement may at any time be terminated without payment of any
penalty either by vote of the Board of Directors of the Fund or by vote of the
holders of a majority of the outstanding voting securities of the Portfolio, on
sixty days written notice to the Advisor,
This Agreement shall automatically terminate in the event of its
assignment, and
This Agreement may be terminated by the Advisor after ninety days
written notice to the Fund.
Any notice under this Agreement shall be given in writing, addressed
and delivered, or mailed postpaid, to the other party at any office of such
party.
As used in this section, the terms "assignment," "interested persons,"
and a "vote of the holders of a majority of the outstanding securities" shall
have the respective meanings set forth in Section 2 (a) (4), Section 2 (a) (19),
Section 2 (a) (42) of the Investment Company Act of 1940 and Rule 18f-2
thereunder.
Severability
If any provision of this Agreement shall be held or made invalid by
a court decision, statute, rule or otherwise, the
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remainder of this Agreement shall not be affected thereby.
IN WITNESS WHEREOF, the parties hereby have caused this Agreement to be
executed this 21st day of September, 1992.
DIMENSIONAL FUND DFA INVESTMENT
ADVISORS INC. DIMENSIONS GROUP INC.
By: /s/ Xxx X. Xxxxxxxxxxx By: /s/ Xxxxx X. Xxxxx
-------------------------------- ---------------------------
Chairman-Chief President
Investment Officer
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AMENDMENT TO INVESTMENT ADVISORY AGREEMENT
This Amendment (the "Amendment") to the Investment Advisory Agreement by
and between DFA INVESTMENT DIMENSIONS GROUP INC. (the "Fund") and DIMENSIONAL
FUND ADVISORS INC. (the "Advisor") dated September 21, 1992 (the "Agreement")
shall be effective on December 20, 1996 or such later date which is the
effective date of Post-Effective Amendment No. 43 to the Registration Statement
for the Fund.
NOW, THEREFORE, the parties hereto agree to amend the Agreement as follows:
The first sentence Section 3 of the Agreement entitled "Compensation of the
Advisor" is amended to read in its entirety as follows: "FOR THE SERVICES TO BE
RENDERED BY THE ADVISOR AS PROVIDED IN SECTION 1 OF THIS AGREEMENT, THE FUND
SHALL PAY TO THE ADVISOR, AT THE END OF EACH MONTH, A FEE EQUAL TO ONE-TWELFTH
OF 0.30 PERCENT OF THE AVERAGE NET ASSETS OF THE PORTFOLIO."
Except as expressly amended hereby, the provisions of the Agreement
shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereby have caused this Amendment to be
executed this 18th day of October, 1996.
DIMENSIONAL FUND DFA INVESTMENT
ADVISORS INC. DIMENSIONS GROUP INC.
By: /s/ Xxx X. Xxxxxxxxxxx By: /s/ Xxxxx X. Xxxxx
--------------------------------------- -----------------------------
Name: Xxx X. Xxxxxxxxxxx Name: Xxxxx X. Xxxxx
Title: Chairman, Chief Investment Officer Title: President
