Exhibit 99 d.10
July 1, 2017
First Eagle Funds
1345 Avenue of the Americas
New York, NY 10105
Re: Investment Management Fee for First Eagle Fund of America (the “Fund”)
Dear First Eagle Funds:
This letter relates to the December 1, 2015 Investment Advisory Agreement (the “Agreement”) and the February 23, 2016 Side Letter Agreement (the “2016 Letter”) between First Eagle Funds on behalf of the Fund and First Eagle Investment Management, LLC (the “Investment Adviser”), which provides that the Fund will pay monthly an investment management fee at the annual rate of 0.90% of the first $5 billion of the average daily net assets of the Fund, and 0.85% on the average daily net assets of the Fund in excess of $5 billion of the average daily net assets of the Fund.
Notwithstanding the foregoing, we intend by this letter, which supersedes in full the 2016 Letter, to bind the Investment Adviser to a modification of the Agreement to provide instead for the Fund to pay monthly an investment management fee at the annual rate of 0.90% of the first $2.25 billion of the average daily net assets of the Fund, 0.85% of the next $2.75 billion of the average daily net assets of the Fund, and 0.80% on the average daily net assets of the Fund in excess of $5 billion of the average daily net assets of the Fund.
Pursuant to the Board’s approval of the Fund of America management fee change in the June 8, 2017 Board meeting, we will consider us to be bound to this changed rate as of July 1, 2017. For the avoidance of doubt, this letter affects only the stated fee arrangement. No other provision of the Agreement is changed hereby.
| FIRST EAGLE INVESTMENT MANAGEMENT, LLC | ||||
| By: | ||||
| Name: | Mehdi Mahmud | |||
| Title: | President and CEO | |||
