Common use of Access Data Clause in Contracts

Access Data. PFPC shall provide to the Funds and the Funds agree to use AccessData’s SalesVision sales, compensation and compliance tracking and reporting services (“SalesVision”) as follows: (i) At project initiation, Access Data/PFPC will begin a project to implement SalesVision to support internal sales, compensation and compliance reporting for the “GE Funds” and the “Elfun Funds” identified on Exhibit A. PFPC shall implement these SalesVision-related services based on the following current assumptions; provided, however, that to the extent the expected usage of these services material exceeds the following assumptions, PFPC and the Funds will determine whether to negotiate in good faith additional compensation: (A) Total classes of shares for “GE Funds” are approximately 48 and for “Elfun Funds” are approximately 6; (B) Monthly transaction volumes for “GE Funds” are approximately 22,000 (1,000 per day) and for “Elfun Funds” are approximately 5,500 (300 per day); (C) Total accounts for “GE Funds” are approximately 85,000 and for “Elfun Funds” are approximately 75,000; (D) The Funds will outsource the hosting services to Access Data/PFPC; and (E) PFPC/The Funds will perform data stewardship tasks. (ii) PFPC/Access Data will convert the “GE Funds” and “Elfun Funds” transaction history for 2003 and YTD 2004 utilizing the PFPC settled trade file. (iii) The Funds agree to be a reference for the SalesVision/PFPC product offering and permit PFPC/Access Data to list the Funds as a SalesVision client.