AMENDMENT NO. 3 TO INVESTMENT SERVICES AGREEMENT

MBIA INSURANCE CORPORATION

MBIA CAPITAL MANAGEMENT CORP.

/s/ Neil G. Budnick

/s/ illegible

Title: Chief Financial Officer

Title: President

EX-10.07 3 dex1007.htm AMENDMENT #3 TO INVESTMENT SERVICES AGREEMENT Amendment #3 to Investment Services Agreement

Exhibit 10.07

AMENDMENT NO. 3

INVESTMENT SERVICES AGREEMENT

WHEREAS, MBIA Insurance Corporation and MBIA Capital Management Corp. (formerly known as MBIA Securities Corp.) have entered into an Investment Services Agreement (the “Agreement”); and

WHEREAS the parties adopted Amendment No. 1 to said Agreement on December 29, 1995; and

WHEREAS the parties adopted Amendment No. 2 to said Agreement on January 14, 1997; and

NOW THEREFORE, the Agreement is hereby amended as follows effective as of the date set forth below:

Exhibit C of the Agreement is replaced in its entirety by the substitute Exhibit C attached hereto.

All other provisions of the Agreement shall remain unchanged.

IN WITNESS WHEREOF, the parties have caused the signatures of their duly authorized officers to be hereto affixed this 10^th day of September, 2001.

EXHIBIT C

Schedule of Fees

Assets Under Management

at Market Value ($ millions)

Management Fees Per Annum

in Basis Points Times Assets

under Management

All Assets

10.0 bp

Management fees shall be paid monthly, in arrears, based upon the average market value of the assets under management during such quarter.

“Market Value” shall be determined in accordance with Section 9 of this Agreement.

AMENDMENT NO. 4

INVESTMENT SERVICES AGREEMENT

WHEREAS, MBIA Insurance Corporation and MBIA Capital Management Corp. have entered into an Investment Services Agreement (the “Agreement”), dated April 28, 1995, and

WHEREAS, the parties have agreed to amend said Agreement;

NOW, THEREFORE, the Agreement is hereby amended as follows, effective January 1, 2003: