0001169187-07-000017 Sample Contracts

INVESTMENT MANAGEMENT AGREEMENT Between
Investment Management Agreement • November 13th, 2007 • T. Rowe Price Institutional Income Funds, Inc.

INVESTMENT MANAGEMENT AGREEMENT, made as of the 23rd day of October, 2007, by and between T. ROWE PRICE INSTITUTIONAL INCOME FUNDS, INC., a Maryland corporation (the "Corporation"), and T. ROWE PRICE ASSOCIATES, INC., a corporation organized and existing under the laws of the State of Maryland (hereinafter called the "Manager").