EXHIBIT (D)(3)(I)
FORM OF
AMENDMENT TO THE SUB-ADVISORY AGREEMENT SUPPLEMENTS
BETWEEN
MACKAY ▇▇▇▇▇▇▇ LLC
AND
NEW YORK LIFE INVESTMENT MANAGEMENT LLC
This Amendment (the "Amendment") is dated as of May 1, 2008 by and between
MacKay ▇▇▇▇▇▇▇ LLC (the "Sub-Adviser") and New York Life Investment Management
LLC (the "Manager").
W I T N E S S E T H:
WHEREAS, the Manager and the Sub-Adviser are parties to those certain
Sub-Advisory Agreement Supplements (the "Supplements"), dated May 15, 2001,
entered into on behalf of the Mid Cap Growth Portfolio, the Mid Cap Value
Portfolio and the Small Cap Growth Portfolio (the "Portfolios"); and
WHEREAS, the Manager and the Sub-Adviser wish to amend the fee schedules
provided for under the Supplements;
NOW, THEREFORE, the fee schedules for each of the above-referenced
Supplements are replaced with the attached Schedule A
Except as provided herein, the terms and conditions contained in the
Supplements shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their duly authorized officers effective as of the date first above written.
MACKAY ▇▇▇▇▇▇▇ LLC NEW YORK LIFE INVESTMENT
MANAGEMENT LLC
By: ___________________________ By: ___________________________
Name: ___________________________ Name: ___________________________
Title: ___________________________ Title: ___________________________
EXHIBIT (D)(3)(I)
SCHEDULE A
Name of Portfolio Sub-Advisory Fee
----------------- ----------------
Mid Cap Growth Portfolio 0.375%(1)
Mid Cap Value Portfolio 0.350%(2)
Small Cap Growth Portfolio 0.450%(3)
_______________
(1) 0.375% on assets up to $500 million; and 0.35% on assets over $500 million
(2) 0.350% on assets up to $500 million; and 0.325% on assets over $500 million
(3) 0.450% on assets up to $1 billion; and 0.425% on assets over $1 billion