Exhibit (d)(25)
GLENMEDE INVESTMENT MANAGEMENT LP
May 5, 2025
Elizabeth A. Eldridge
President
The Glenmede Fund, Inc.
c/o Glenmede Investment Management LP
One Liberty Place
1650 Market Street, Suite 4000
Philadelphia, PA 19103-7391
Re: | The Glenmede Fund, Inc: Disciplined International Equity Portfolio |
Dear Ms. Eldridge:
Pursuant to Investment Advisory Agreement between the Fund on behalf of the Disciplined International Equity Portfolio (formerly, the Quantitative International Equity Portfolio) (the “Portfolio”) and Glenmede Investment Management LP (the “Adviser”) dated October 25, 1988, as amended, the Adviser is entitled to investment advisory fees of 0.55% of the Portfolio’s average daily net assets. By our execution of this letter agreement (this “Agreement”), intending to be legally bound hereby, Adviser agrees that in order to improve the performance of the Portfolio, the Adviser shall, until future notice, but in no event terminating before May 5, 2026 waive all or a portion of its investment advisory fees and/or reimburse expenses (other than, Acquired Fund fees and expenses, brokerage commissions, extraordinary items, interest and taxes) in an aggregate amount equal to the amount by which the Portfolio’s total operating expenses (other than Acquired Fund fees and expenses, brokerage commissions, extraordinary items, interest and taxes) exceed a total operating expense ratio (excluding Acquired Fund fees and expenses, brokerage commissions, extraordinary items, interest and taxes) of: 0.85% of the average daily net assets attributable to Advisor Class shares of the Portfolio and 0.65% of the average daily net assets attributable to Institutional Class shares of the Portfolio.
The Adviser acknowledges that (1) it shall not be entitled to collect on or make a claim for waived fees at any time in the future, and (2) it shall not be entitled to collect on or make a claim for reimbursed Fund expenses at any time in the future.
This Agreement supersedes that certain letter agreement dated February 6, 2025 made by the Adviser with respect to the Portfolio.
Glenmede Investment Management LP | ||
By: | Gatepost Partners, LLC, its General Partner | |
By: | /s/ Peter Zuleba | |
Peter Zuleba | ||
Director |
Your signature below acknowledges | ||
acceptance of this Agreement: | ||
By: | /s/ Elizabeth A. Eldridge | |
Elizabeth A. Eldridge | ||
President | ||
The Glenmede Fund, Inc. |