EX-99. 77Q1(e): Copies of any new or amended Registrant investment advisory
contracts
ASSUMPTION AGREEMENT
AGREEMENT made as of August 3, 2007 among NORTHERN TRUST INVESTMENTS, N.A.
("NTI") (formerly known as Northern Trust Investments, Inc.) and NORTHERN TRUST
GLOBAL INVESTMENTS LIMITED ("NTGIL") (formerly known as Northern Trust Global
Investments (Europe) Limited), each a wholly-owned direct or indirect subsidiary
of NORTHERN TRUST CORPORATION ("NTC").
WHEREAS, Northern Institutional Funds is registered as an open-end
management investment company under the Investment Company Act of 1940, as
amended (the "1940 Act");
WHEREAS, The Northern Trust Company ("Northern"), an affiliate of NTI and
NTGIL and a direct subsidiary of NTC, has been previously appointed as
investment adviser to the Bond, Short Bond, Intermediate Bond and Balanced
Portfolios (each a "Portfolio" and together, the "Portfolios") of Northern
Institutional Funds pursuant to an Investment Advisory Agreement between
Northern and Northern Institutional Funds dated March 31, 1998 (as subsequently
amended) (the "Investment Advisory Agreement");
WHEREAS, NTI has assumed all rights and obligations of Northern under the
Investment Advisory Agreement with regard to the Portfolios pursuant to an
assumption agreement dated January 1, 2001;
WHEREAS, NTI and NTGIL assumed all rights and obligations of NTI under the
Investment Advisory Agreement with regard to the Portfolios pursuant to an
assumption agreement dated April 1, 2002; and
WHEREAS, NTI and NTGIL now desire to have NTI be the sole investment
adviser with respect to each Portfolio pursuant to the Investment Advisory
Agreement.
NOW, THEREFORE, the parties hereto, intending to be legally bound, agree as
follows:
1. NTI hereby assumes all rights and obligations of NTGIL under the
Investment Advisory Agreement with respect to the Portfolios.
2. NTI and NTGIL hereby represent that (i) the management personnel of
NTGIL responsible for providing investment advisory services to the Portfolios
under the Investment Advisory Agreement, including the portfolio managers and
the supervisory personnel, are employees or associated persons of NTI where they
will continue to provide such services for the Portfolios, and (ii) NTI and
NTGIL remain wholly-owned direct or indirect subsidiaries of Northern Trust
Corporation. Consequently, NTI and NTGIL believe that the assumption does not
involve a change in actual control or actual management with respect to the
investment adviser or the Portfolios.
3. The parties hereby agree that this Assumption Agreement shall be
attached to and made a part of the Investment Advisory Agreement.
IN WITNESS WHEREOF, the parties hereto have caused this instrument to be
executed by their officers designated below as of the day and year first above
written.
Attest: NORTHERN TRUST INVESTMENTS, N.A.
/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ By /s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇
(Authorized Officer)
Attest: NORTHERN TRUST GLOBAL INVESTMENTS
LIMITED
/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ By /s/ ▇▇▇▇ ▇▇▇▇▇▇▇
(Authorized Officer)