Document:

<PAGE>

                                                     August 26, 1999

Mr. Donald R. McIlnay
150 James Way
Advance, NC  27006

Dear Don:

I am pleased to confirm our offer for the position of President Consumer Sales,
for The Stanley Works. The position is based in Charlotte, NC and will report to
me.

Your base salary will be $300,000 per year, paid monthly. You will also
participate in the Corporate Management Incentive Compensation Program with a
guaranteed incentive payout of $120,000 for the year 2000, which is payable in
February 2001. You will also receive a pro-rated incentive payment for 1999,
which is payable in February 2000. An additional payment of up to $70,000 may be
made in February 2000 if required, so that the sum of the pro-rated bonus, this
additional payment, and the value of the 100,000 share stock option grant above
the option purchase price equals $100,000. You will be eligible for four weeks
of vacation.

On joining the Company, you will also receive a grant of a 100,000 share stock
option under the terms of the Special Stock Option Plan. The Option Purchase
Price will be the price of the stock on the date of grant, which will be within
60 days of your first day of work. Fifty-percent of this grant will vest 36
months following the grant date and 50% will vest 60 months following the grant
date. Starting in 2000, your stock options will be targeted at the 13,000 level
annually. In addition, you will participate in our Long-Term Incentive Plan at
the senior level. Payment of this plan will be made in February 2003.

As an Officer of The Stanley Works, you will participate in current and future
executive benefit programs including our Financial Planning Service, Executive
Life Insurance Program, and the Executive Physical Program. The Company will
also lease and insure a car for your use. You may select any make and model up
to a Fair Market Value of $60,000.00. Details of the executive benefit programs
are attached.

In addition, the Company's Employee Stock Purchase Program (ESPP) allows you to
purchase company stock up to 15% of your base pay annually (capped at $25,000),
at 15% below the market price. The Company's 401k Plan will match 50% of
employee contributions up to 7% of your pay and the Company Defined Contribution
Pension Plan contributes either 3%, 5% or 9% of pay each year depending upon
your age.

Enclosed is a copy of a Consent Order with the Federal Trade Commission
regarding "Made in USA". Please read and sign the attached and return it to the
address indicated.

<PAGE>

Should a future relocation be required, the Company will cover the standard
relocation costs associated with the sale of your current home and the purchase
of a home at the new location.

You should be aware that your employment with Stanley will continue as long as
mutually acceptable, and as such is terminable by either the Company, or by
yourself, at any time and for any reason. Commencing employment is contingent
upon our Medical Department determining that you are physically suited for the
duties of the position. This includes a drug-screening test. Please contact Skip
Proctor at 860-827-3935 to make the necessary arrangements.

The Stanley Works Health Plans become effective on the first of the month
following your date of employment. They will be explained to you in detail on
your first day of employment. You can usually extend your existing medical
coverage for a limited period of time to cover any lapse between the plans.

Don, I am delighted that you will join our team. There's a lot of exciting work
to be done and I know that you will make a great contribution to our success. If
you have any questions, please give me a call at 860-827-3990 or Mark Mathieu at
860-827-3818.

Please indicate your acceptance by signing below and return a copy to me.

Sincerely,

John M. Trani                                          Donald McIlnay
Chairman and CEO

Cc:    Carol L'Heureux - Executive Compensation & Relocation
       Skip Proctor, Director HR - Sales America

Enclosures:  Deferred Compensation Plan (December 19, 1995)
             1990 Stock Option Plan (April 23, 1997)
             Executive life Insurance Program
             Financial Planning Service
             Executive Physical Program
             Employee Benefits Booklet
             FTC Consent Order
             Executive Car Program<PAGE>

                                                     September 12, 2000

Jack Garlock
70 Stonehenge Dr.
Jackson, TN  38305

Dear Jack:

I am pleased to confirm our offer for the position of President Doors, for The
Stanley Works. The position is based in New Britain, Connecticut and reports to
me.

Your base salary will be $275,000 per year, paid monthly. You will also
participate in the Corporate Management Incentive Compensation Program with a
target annual bonus for 2001 of $175,000 payable in February 2002. You will be
eligible for four weeks of vacation.

You will participate in our Long Term Performance Award Plan (see attached).
Payment of the plan will be made on a pro-rated basis in February, 2003 based on
actual earnings for the 3-year measurement period beginning January 1, 2000 and
ending December 31, 2002.

On joining the company, you will also receive a grant of a 50,000 share stock
option under the terms of The Stanley Works 1997 Long-Term Incentive Plan.
Fifty-percent (50%) of this stock grant will vest in 24 months following the
grant date and 50% will vest in 48 months following the grant date. The Option
Purchase Price will be the price of the stock on the date of grant, which will
be within 60 days of your first day of work. Starting in 2001 your stock options
will be targeted at the 15,000 level annually.

You will also participate in current and future executive benefit programs
including our Financial Planning Service, Executive Life Insurance Program, and
the Executive Physical Program. The Company will also lease and insure a car for
your use. You may select any make and model up to a Fair Market Value of
$60,000. Details of the executive benefit programs are attached.

In addition, the Company's Employee Stock Purchase Program (ESPP) allows you to
purchase company stock up to 15% of your base pay annually (capped at $25,000),
at 15% below the market price. The Company's 401k Plan will match 50% of
employee contributions up to 7% of your pay and the Company Defined Contribution
Pension Plan contributes either 3%, 5% or 9% of pay each year depending upon
your age. Furthermore, provided your employment service with Stanley continues
until you reach age 62, Stanley will pay you a lump sum benefit of $2.9 million
upon your retirement.

The Company will cover the Enhanced Relocation costs associated with the sale of
your current home and the purchase of your new home in Connecticut. You will be
eligible for the services of our Third Party Relocation Vendor. In addition, you
will receive a moving allowance of $8,000 to cover incidental moving expenses
once you

<PAGE>

have moved. This allowance will be treated as salary for tax purposes. In order
to be eligible for any relocation benefit you must first sign the Relocation
Expense Agreement, which can be found on the last page of the enclosed
Relocation Policy. No relocation benefit will be provided until the Company has
received your signed Relocation Expense Agreement.

Enclosed is a copy of a Consent Order with the Federal Trade Commission
regarding "Made in USA". Please read and sign the attached and return it to the
address indicated.

You should be aware that your employment with Stanley will continue as long as
mutually acceptable, and as such is terminable by either the Company, or by
yourself, at any time and for any reason. Commencing employment is contingent
upon our Medical Department determining that you are physically suited for the
duties of the position. This includes a drug-screening test. Please contact
Claudia Mackiewicz at 860-827-3880 to make the necessary arrangements.

The Stanley Works Health Plans become effective on the first of the month
following your date of employment. They will be explained to you in detail on
your first day of employment. You can usually extend your existing medical
coverage for a limited period of time to cover any lapse between the plans.

Jack, you will play a key role in driving growth in our Doors business. I am
delighted that you are considering joining our team. There is a lot of exciting
work to be done and I know that you will make a great contribution to our
success. If you have any questions, please call me.

Please indicate your acceptance by signing below and return a copy to me.

Sincerely,

John Trani                                                  Jack Garlock
Chairman and CEO

Cc:   Carol L'Heureux - Executive Compensation & Relocation

Enclosures: Enhanced Relocation Program
            Benefits Booklet
            FTC Consent Order
            Long Term Performance Award Plan
            Executive life Insurance Program
            Financial Planning Service
            Executive Physical Program
            Smith Kline Testing Program
            Stanley Choice Account
            Executive Auto Program
            Stanley Employment Application<PAGE>
                                                                EXHIBIT 10.11(e)

                        INVESTMENT SUB-ADVISORY AGREEMENT

         AGREEMENT MADE THIS 15th day of August, 2002 by and between Nuveen
Institutional Advisory Corp., a Delaware corporation and a registered investment
adviser ("Manager"), and NWQ Investment Management Company, LLC, a Delaware
limited liability company and a registered investment adviser ("Sub-Adviser").

         WHEREAS, Manager is the investment manager for the Nuveen NWQ Multi-Cap
Value Fund series (the "Fund") of Nuveen Investment Trust (the "Trust"), an
open-end diversified, management investment company registered under the
Investment Company Act of 1940, as amended ("1940 Act"); and

         WHEREAS, Manager desires to retain Sub-Adviser as its agent to furnish
investment advisory services for the Fund, upon the terms and conditions
hereafter set forth;

         NOW, THEREFORE, in consideration of the mutual covenants herein
contained, the parties hereto agree as follows:

         1. Appointment. Manager hereby appoints Sub-Adviser to provide certain
sub-investment advisory services to the Fund for the period and on the terms set
forth in this Agreement. Sub-Adviser accepts such appointments and agrees to
furnish the services herein set forth for the compensation herein provided.

         2. Services to be Performed. Subject always to the supervision of
Trust's Board of Trustees and the Manager, Sub-Adviser will furnish an
investment program in respect of, make investment decisions for, and place all
orders for the purchase and sale of securities for the Fund, all on behalf of
the Fund. In the performance of its duties, Sub-Adviser will satisfy its
fiduciary duties to the Trust, will monitor the Fund's investments, and will
comply with the provisions of Trust's Declaration of Trust and By-laws, as
amended from time to time, and the stated investment objectives, policies and
restrictions of the Fund. Manager will provide Sub-Adviser with current copies
of the Trust's Declaration of Trust, By-laws, prospectus and any amendments
thereto, and any objectives, policies or limitations not appearing therein as
they may be relevant to Sub-Adviser's performance under this Agreement.
Sub-Adviser and Manager will each make its officers and employees available to
the other from time to time at reasonable times to review investment policies of
the Fund and to consult with each other regarding the investment affairs of the
Fund. Sub-Adviser will report to the Board of Trustees and to Manager with
respect to the implementation of such program.

         Sub-Adviser is authorized to select the brokers or dealers that will
execute the purchases and sales of portfolio securities for the Fund, and is
directed to use its best efforts to obtain best execution, which includes most
favorable net results and execution of the Trust's orders, taking into account
all appropriate factors, including price, dealer spread or commission, size and
difficulty of the transaction and research or other services provided. It is
understood that the Sub-Adviser will not be deemed to have acted unlawfully, or
to have breached a fiduciary duty to the Trust or the Fund, or be in breach of
any obligation owing to the Trust or the Fund under this Agreement, or
otherwise, solely by reason of its having caused the Trust to pay a member of a

<PAGE>

securities exchange, a broker or a dealer a commission for effecting a
securities transaction for the Trust in excess of the amount of commission
another member of an exchange, broker or dealer would have charged if the
Sub-Adviser determined in good faith that the commission paid was reasonable in
relation to the brokerage or research services provided by such member, broker
or dealer, viewed in terms of that particular transaction or the Sub-Adviser's
overall responsibilities with respect to its accounts, including the Trust, as
to which it exercises investment discretion. In addition, if in the judgment of
the Sub-Adviser, the Fund would be benefited by supplemental services, the
Sub-Adviser is authorized to pay spreads or commissions to brokers or dealers
furnishing such services in excess of spreads or commissions which another
broker or dealer may charge for the same transaction, provided that the
Sub-Adviser determined in good faith that the commission or spread paid was
reasonable in relation to the services provided. The Sub-Adviser will properly
communicate to the officers and trustees of the Trust such information relating
to transactions for the Fund as they may reasonably request. In no instance will
portfolio securities be purchased from or sold to the Manager, Sub-Adviser or
any affiliated person of either the Trust, Manager, or Sub-Adviser, except as
may be permitted under the 1940 Act;

         Sub-Adviser further agrees that it:

         (a)      will use the same degree of skill and care in providing such
                  services as it uses in providing services to fiduciary
                  accounts for which it has investment responsibilities;

         (b)      will conform to all applicable Rules and Regulations of the
                  Securities and Exchange Commission in all material respects
                  and in addition will conduct its activities under this
                  Agreement in accordance with any applicable regulations of any
                  governmental authority pertaining to its investment advisory
                  activities;

         (c)      will report regularly to Manager and to the Board of Trustees
                  of the Trust and will make appropriate persons available for
                  the purpose of reviewing with representatives of Manager and
                  the Board of Trustees on a regular basis at reasonable times
                  the management of the Fund, including, without limitation,
                  review of the general investment strategies of the Fund, the
                  performance of the Fund in relation to standard industry
                  indices and general conditions affecting the marketplace and
                  will provide various other reports from time to time as
                  reasonably requested by Manager; and

         (d)      will prepare such books and records with respect to the Fund's
                  securities transactions as requested by the Manager and will
                  furnish Manager and Trust's Board of Trustees such periodic
                  and special reports as the Board or Manager may reasonably
                  request.

         3. Expenses. During the term of this Agreement, Sub-Adviser will pay
all expenses incurred by it in connection with its activities under this
Agreement other than the cost of securities (including brokerage commission, if
any) purchased for the Trust.

                                       2
<PAGE>

         4. Compensation. For the services provided and the expenses assumed
pursuant to this Agreement, Manager will pay the Sub-Adviser, and the
Sub-Adviser agrees to accept as full compensation therefor, a portfolio
management fee equal to 50.0% of the remainder of (a) the investment management
fee payable by the Fund to the Manager based on average daily net assets
pursuant to the Management Agreement, less (b) any management fee waivers,
expense reimbursement payments, supermarket fees and alliance fees waived,
reimbursed or paid by the Manager in respect of the Fund.

The management fee shall accrue on each calendar day, and shall be payable
monthly on the first business day of the next succeeding calendar month. The
daily fee accrual shall be computed by multiplying the fraction of one divided
by the number of days in the calendar year by the applicable annual rate of fee,
and multiplying this product by the net assets of the Trust, determined in the
manner established by the Board of Trustees, as of the close of business on the
last preceding business day on which the Trust's net asset value was determined.

For the month and year in which this Agreement becomes effective or terminates,
there shall be an appropriate proration on the basis of the number of days that
the Agreement is in effect during the month and year, respectively.

         5. Services to Others. Manager understands, and has advised Trust's
Board of Trustees, that Sub-Adviser now acts, or may in the future act, as an
investment adviser to fiduciary and other managed accounts, and as investment
adviser or sub-investment adviser to one other investment company that is not a
series of the Trust, provided that whenever the Fund and one or more other
investment advisory clients of Sub-Adviser have available funds for investment,
investments suitable and appropriate for each will be allocated in a manner
believed by Sub-Adviser to be equitable to each. Manager recognizes, and has
advised Trust's Board of Trustees, that in some cases this procedure may
adversely affect the size of the position that the Fund may obtain in a
particular security. It is further agreed that, on occasions when the
Sub-Adviser deems the purchase or sale of a security to be in the best interests
of the Fund as well as other accounts, it may, to the extent permitted by
applicable law, but will not be obligated to, aggregate the securities to be so
sold or purchased for the Fund with those to be sold or purchased for other
accounts in order to obtain favorable execution and lower brokerage commissions.
In addition, Manager understands, and has advised Trust's Board of Trustees,
that the persons employed by Sub-Adviser to assist in Sub-Adviser's duties under
this Agreement will not devote their full such efforts and service to the Trust.
It is also agreed that the Sub-Adviser may use any supplemental research
obtained for the benefit of the Trust in providing investment advice to its
other investment advisory accounts or for managing its own accounts.

         6. Limitation of Liability. Manager will not take any action against
Sub-Adviser to hold Sub-Adviser liable for any error of judgment or mistake of
law or for any loss suffered by the Trust in connection with the performance of
Sub-Adviser's duties under this Agreement, except for a loss resulting from
Sub-Adviser's willful misfeasance, bad faith, or gross negligence in the
performance of its duties or by reason of its reckless disregard of its
obligations and duties under this Agreement.

                                       3
<PAGE>

         7. Term; Termination; Amendment. This Agreement shall become effective
with respect to the Fund on the date on which it is approved by a vote of a
majority of the outstanding voting securities of the Fund in accordance with the
requirements of the 1940 Act, and shall remain in full force until August 1,
2003 unless sooner terminated as hereinafter provided. This Agreement shall
continue in force from year to year thereafter with respect to the Fund, but
only as long as such continuance is specifically approved for the Fund at least
annually in the manner required by the 1940 Act and the rules and regulations
thereunder; provided, however, that if the continuation of this Agreement is not
approved for the Fund, the Sub-Adviser may continue to serve in such capacity
for the Fund in the manner and to the extent permitted by the 1940 Act and the
rules and regulations thereunder.

         This Agreement shall automatically terminate in the event of its
assignment and may be terminated at any time without the payment of any penalty
by the Manager on sixty (60) days' written notice to the Sub-Adviser. This
Agreement may be terminated by the Sub-Adviser as of July 31 of any year after
2003 without payment of any penalty upon sixty (60) days' prior written notice
to the Manager. This Agreement may also be terminated by the Trust with respect
to the Fund by action of the Board of Trustees or by a vote of a majority of the
outstanding voting securities of such Fund on sixty (60) days' written notice to
the Sub-Adviser by the Trust.

         This Agreement may be terminated with respect to the Fund at any time
without the payment of any penalty by the Manager, the Board of Trustees or by
vote of a majority of the outstanding voting securities of the Fund in the event
that it shall have been established by a court of competent jurisdiction that
the Sub-Adviser or any officer or director of the Sub-Adviser has taken any
action which results in a breach of the covenants of the Sub-Adviser set forth
herein.

         The terms "assignment" and "vote of a majority of the outstanding
voting securities" shall have the meanings set forth in the 1940 Act and the
rules and regulations thereunder.

         Termination of this Agreement shall not affect the right of the
Sub-Adviser to receive payments on any unpaid balance of the compensation
described in Section 4 earned prior to such termination. This Agreement shall
automatically terminate in the event the Investment Management Agreement between
the Manager and the Trust is terminated, assigned or not renewed.

         8. Notice. Any notice under this Agreement shall be in writing,
addressed and delivered or mailed, postage prepaid, to the other party

                                       4
<PAGE>

<Table>
<S>                                                 <C>
         If to the Manager:                         If to the Sub-Adviser:

         Nuveen Institutional Advisory Corp.        NWQ Investment Management Company, LLC
         333 West Wacker Drive                      2049 Century Park East, 4th Floor
         Chicago, Illinois 60606                    Los Angeles, CA 90067
         Attention: Mr. John P. Amboian             Attention:  Mr. Michael Mendez

         With a copy to:                            With a copy to:

         The John Nuveen Company
         333 West Wacker Drive
         Chicago, Illinois 60606
         Attention: General Counsel                 Attention:
</Table>

or such address as such party may designate for the receipt of such notice.

         9. Limitations on Liability. All parties hereto are expressly put on
notice of the Trust's Agreement and Declaration of Trust and all amendments
thereto, a copy of which is on file with the Secretary of the Commonwealth of
Massachusetts, and the limitation of shareholder and trustee liability contained
therein. The obligations of the Trust entered in the name or on behalf thereof
by any of the Trustees, representatives or agents are made not individually but
only in such capacities and are not binding upon any of the Trustees, officers,
or shareholders of the Trust individually but are binding upon only the assets
and property of the Trust, and persons dealing with the Trust must look solely
to the assets of the Trust and those assets belonging to the subject Fund, for
the enforcement of any claims.

         10. Miscellaneous. The captions in this Agreement are included for
convenience of reference only and in no way define or delimit any of the
provisions hereof or otherwise affect their construction or effect. If any
provision of this Agreement is held or made invalid by a court decision,
statute, rule or otherwise, the remainder of this Agreement will not be affected
thereby. This Agreement will be binding upon and shall inure to the benefit of
the parties hereto and their respective successors.

         11. Applicable Law. This Agreement shall be construed in accordance
with applicable federal law and (except as to Section 9 hereof which shall be
construed in accordance with the laws of Massachusetts) the laws of the State of
Illinois.

                                       5
<PAGE>

         IN WITNESS WHEREOF, the Manager and the Sub-Adviser have caused this
Agreement to be executed as of the day and year first above written.

NUVEEN INSTITUTIONAL ADVISORY CORP.,          NWQ INVESTMENT MANAGEMENT
a Delaware corporation                        COMPANY, LLC, a Delaware limited
                                              liability company

By: /s/ William M. Fitzgerald                 By: /s/ Jon Bosse
Title: Managing Director                      Title: Managing Director

                                       6

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