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Exhibit 99(23)(d)(4)
FIRST SUMMIT CAPITAL MANAGEMENT
1876 Waycross Road
Cincinnati, Ohio 45240
Summit Investment Partners, LLC
312 Elm Street, Suite 2525
Cincinnati, Ohio 45202
Re: Agreement Regarding Investment Sub-Advisory Agreement
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Ladies and Gentlemen:
Under an Amended Investment Advisory Agreement, made as of the
18th day of September, 1996, as amended as of November 1, 1998 and January 1,
1999 (the "Agreement") between First Summit Capital Management (the "Adviser"),
an Ohio general partnership, and Summit Investment Partners, LLC (the
"Sub-Adviser," formerly named Carillon Advisers, Inc.), an Ohio limited
liability company, the Sub-Adviser provides certain services to the Adviser with
respect to Summit Investment Trust. In consideration of the premises and of the
mutual agreements herein contained and contained in the Agreement, the Adviser
and the Sub-Adviser hereby agree that the Agreement will immediately terminate
in the event of its assignment (as such term is defined in the Investment
Company Act of 1940, as amended (the "Act")), and shall be governed in such
respect and in all other respects by the provisions of the Act.
Please confirm that the foregoing is in accordance with your
understanding and agreement as of the date first written above by indicating
your acceptance and agreement at the place below indicated.
FIRST SUMMIT CAPITAL MANAGEMENT
By
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Name: JAMES F. SMITH
Title: PRESIDENT
SUMMIT INVESTMENT PARTNERS, LLC
By
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Name: STEVEN R. SUTERMEISTER
Title: PRESIDENT
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