Exhibit d 4 e

MAINSTAY VP FUNDS TRUST

AMENDMENT TO THE SUBADVISORY AGREEMENT

This Amendment to the Subadvisory Agreement, is effective as of the 1^st day of May 2015, between New York Life Investment Management LLC (the “Manager”) and MacKay Shields LLC (the Subadvisor”).

WHEREAS, the parties hereto have entered into a Subadvisory Agreement, dated April 29, 2011, as amended (the “Agreement”); and

WHEREAS, the parties hereby wish to amend Schedule A of the Agreement to reflect a change to the subadvisory fee with respect to the MainStay VP Unconstrained Bond Portfolio.

NOW, THEREFORE, the parties agree as follows:

(i) Effective May 1, 2015, Schedule A is hereby amended by deleting it in its entirety and replacing it with the Schedule attached hereto.

[The Remainder of This Page Has Been Left Blank Intentionally.]

IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their duly authorized officers and attested effective as of the date first written above.

NEW YORK LIFE INVESTMENT MANAGEMENT LLC
Attest:	/s/ Thomas Lynch	By:	/s/ Stephen P. Fisher
Name:	Thomas Lynch	Name:	Stephen P. Fisher
Title:	Director and Associate	Title:	Co-President
	General Counsel
MACKAY SHIELDS LLC
Attest:	/s/ Rene A. Bustamante	By:	/s/ Lucille Protas
Name:	Rene A. Bustamante	Name:	Lucille Protas
Title:	Senior Managing Director	Title:	President
	and Chief Compliance Officer

2

SCHEDULE A

(Effective as of May 1, 2015)

As compensation for services provided by Subadvisor, the Manager will pay the Subadvisor and Subadvisor agrees to accept as full compensation for all services rendered hereunder, at an annual subadvisory fee equal to the following:

PORTFOLIO NAME	ANNUAL RATE
MainStay VP Convertible Portfolio	0.30% up to $500 million; 0.275% from $500 million to $1 billion; and 0.25% in excess of $1 billion
MainStay VP Government Portfolio	0.25% up to $500 million; 0.2375% from $500 million up to $1 billion; and 0.225% in excess of $1 billion
MainStay VP High Yield Corporate Bond Portfolio	0.285% up to $1 billion; 0.275% from $1 billion up to $5 billion; and 0.2625% in excess of $5 billion
MainStay VP Income Builder Portfolio	0.285% up to $1 billion; and 0.275% in excess of $1 billion*
MainStay VP Unconstrained Bond Portfolio	0.30% up to $500 million; 0.275% from $500 million up to $1 billion; 0.25% from $1 billion to $5 billion; and 0.2375% in excess of $5 billion

The portion of the fee based upon the average daily net assets of the respective Portfolio shall be accrued daily at the rate of 1/(number of days in calendar year) of the annual rate applied to the daily net assets of the Portfolio.

* The annual rate is based on the percentage that the Allocated Assets constitutes of the Portfolio’s total average daily net assets.

Payment will be made to the Subadvisor on a monthly basis.