EXHIBIT h(6)
THE XXXXX GROWTH FUND, INC.
XXXXX FUNDS, INC.
AMERICAN EAGLE FUNDS, INC.
AMENDMENT TO THE
SERVICING AGREEMENTS
THIS AMENDMENT dated as of this 27 day of January, 2006, to the Custody
Agreement, the Fund Administration Servicing Agreement and the Transfer Agent
Servicing Agreement dated as of December 31, 1999, and the Fund Accounting
Agreement dated as of January 9, 2006, respectively, (the "Agreements"), is
entered by and among The Xxxxx Growth Fund, Inc., the Xxxxx Funds, Inc. and
American Eagle Funds, Inc., each a corporation organized under the laws of the
State of Minnesota (each a "Company") and U.S. Bancorp Fund Services, LLC, a
Wisconsin limited liability company ("USBFS"), and U.S. Bank National
Association, a national banking association (the "Custodian").
Effective January 1, 2006, the fee schedules of the Agreements are hereby
superceded and replaced with the respective fee schedules attached hereto.
Except to the extent supplemented hereby, the Agreements shall remain in full
force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by a duly authorized officer on one or more counterparts as of the day
and year first written above.
THE XXXXX GROWTH FUNDS, INC. U.S. BANCORP FUND SERVICES, LLC
By: /s/ Xxxxxx X Xxxxxxxx By: /s/ Xxx X. Xxxxxxx
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Name: Xxxxxx X Xxxxxxxx Name: Xxx X. Xxxxxxx
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Title: Treasurer Title: President
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XXXXX FUNDS, INC. U.S. BANK, N.A.
By: /s/ Xxxxxx X Xxxxxxxx By: /s/ Xxx X. Xxxxxxx
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Name: Xxxxxx X Xxxxxxxx Name: Xxx X. Xxxxxxx
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Title: Treasurer Title: Senior Vice President
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AMERICAN EAGLE FUNDS, INC.
By: /s/ Xxxxxx X Xxxxxxxx
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Name: Xxxxxx X Xxxxxxxx
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Title: Treasurer
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1
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XXXXX AND AMERICAN EAGLE FUNDS FEE SCHEDULE
TRANSFER AGENT & SHAREHOLDER SERVICES
ANNUAL FEE SCHEDULE AT 1/1/2006
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Service Charges to the Fund* Service Charges to Investors
Shareholder Account Fee (Subject to Minimum) Qualified Plan Fees (Billed to Investors)
o $15.00 /qualified plan acct (Cap at $30.00/SSN)
o No-Load - $15.00 /account o $15.00 /Xxxxxxxxx ESA acct (Cap at $30.00/SSN)
o Load Fund - $16.00 /account o $25.00 /transfer to successor trustee
o Daily Accrual Fund - $21.00 /account o $25.00 /participant distribution (Excluding SWPs)
o Closed Accounts - $2.50 /account o $25.00 /refund of excess contribution
Annual Minimum Additional Shareholder Fees (Billed to Investors)
o $24,000 per no-load fund
o $28,000 per load or daily accrual fund o $15.00 /outgoing wire transfer
o $15,000 each additional class o $15.00 /overnight delivery
Waived per below schedule o $ 5.00 /telephone exchange - waive
o Load Fund - $17.00 /account o $25.00 /return check or ACH
3 basis points on net assets o $25.00 /stop payment
$230,000 fund group minimum o $ 5.00 /research request per account (Cap at
$25.00/request) (For requested items of the second
Activity Charges calendar year [or previous] to the request)
o Telephone Calls - $1.50 /call
o Daily Valuation Trades - $10.00/trade Technology Charges
o Lost Shareholder Search - $5.00 /search 1. Fund Group Setup (first cusip) - $2,000 /fund group
o CCO Support Services - $1,200 per year* 2. Fund Setup - $1,500 /cusip (beyond first cusip)
o Omnibus Account Transactions 3. NSCC Service Interface - All NSCC Services
$3.00 each - first 100 transactions o Setup - $1,500 /fund group
$2.00 each - next 400 transactions o Annual - $1,400 /cusip/year - waive
$1.00 each - next 1,500 transactions 4. Telecommunications and Voice Services - waive
$.50 each - next 3,000 transactions o Service Setup - $1,650 ATT transfer connect
$.25 each - balance of transactions o VRU Setup - $500 /fund group
o AML Base Service (excl Level 3 accounts) o VRU Maintenance - $100 /cusip/month
0-999 accounts - $500.00/year o $.35 /voice response call
1,000-4,999 accounts - $1,000/year o $.40 /voice recognition call
5,000-9,999 accounts - $2,500/year 5. Asset Allocation Services - $8.00 /account
10,000+ accounts - $5,000/year group/year (4 reallocations)
o AML New Account Service - $1.00/new domestic 6. 12b-1 Aging - $1.50 /account/year - waive
accounts and $2.00/new foreign account 7. Average Cost - $.36 /account/year - waive
o ACH/EFT Shareholder Services: 8. Development/Programming - $150 /hour
$125.00 /month/fund group 9. File Transmissions - subject to requirements
$ .50 /ACH item, setup, change 10. Selects - $300 per select
$5.00 /correction, reversal 11. Extraordinary services - charged as incurred
o Conversion of Records (if necessary) - Estimate to be
Out-of-pocket Costs - Including but not limited to: provided.
o Telephone toll-free lines, call transfers, etc. o Custom processing, re-processing
o Mailing, sorting and postage All other extraordinary services
o Stationery, envelopes
o Programming, special reports *Effective with the first day after expiration of the first
o Insurance, record retention, microfilm/fiche twelve (12) months of service, the fees and charges set
o Proxies, proxy services forth in this Schedule shall be increased over the fees and
o ACH fees, NSCC charges charges during the previous twelve (12) months in the amount
o Disaster recovery - per open account equal to the change in the Consumer Price Index for all
o All other out-of-pocket expenses Urban Consumers in the Milwaukee, Wisconsin Metropolitan
Fees are billed monthly. Statistical Area, All Terms, Based 1982-1984 = 100, as last
* Subject to CPI increase. reported by the U.S. Bureau of Labor Statistics ("CPI-U").
Thereafter, all of the fees and charges in this fee schedule
(except for out-of-pocket expenses) shall increase annually
upon each anniversary of this Schedule in an amount equal to
the percentage change in the CPI-U for the proceeding twelve
(12) months.
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XXXXX AND AMERICAN EAGLE FUNDS
FUND ACCOUNTING AGREEMENT
ANNUAL FEE SCHEDULE AT 1/1/2006
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DOMESTIC EQUITY FUNDS* CCO SUPPORT SERVICES - $1,200 per year*
$30,000 for the first $100 million
1.25 basis point on the next $200 million MULTIPLE CLASSES
..75 basis point on the balance Each class is an additional 25% of the charge of the initial
class.
DOMESTIC BALANCED FUNDS*
$33,000 for the first $100 million MASTER/FEEDER FUNDS
1.5 basis points on the next $200 million Each master and feeder is charged according to the schedule.
1 basis point on the balance
MULTIPLE MANAGER FUNDS
Domestic Fixed Income Funds* Additional base fee:
FUNDS OF FUNDS* $12,000 per manager/sub-advisor per fund
SHORT OR DERIVATIVE FUNDS*
INTERNATIONAL EQUITY FUNDS* Extraordinary services - quoted separately
TAX-EXEMPT MONEY MARKET FUNDS*
$39,000 for the first $100 million Conversion Estimate - one month's fee (if necessary)
2 basis points on the next $200 million
1 basis point on the balance NOTE - All schedules subject to change depending upon the use
of derivatives - options, futures, short sales, etc.
TAXABLE MONEY MARKET FUNDS*
$39,000 for the first $100 million All fees are billed monthly plus out-of-pocket expenses,
1 basis point on the next $200 million including pricing service:
1/2 basis point on the balance $.15 Domestic and Canadian Equities
$.15 Options
International Income Funds* $.50 Corp/Gov/Agency Bonds
$42,000 for the first $100 million $.80 CMO's
3 basis points on the next $200 million $.50 International Equities and Bonds
1.5 basis points on the balance $.80 Municipal Bonds
Waive above fees for the following: $.80 Money Market Instruments
$230,000 fund group minimum $125 Per fund per month - Mutual Funds
Net Assets Annual Fee
----------- ---------- Corporate Action Services - - waive
$170 million $300,000 $2.00 Per equity security per month
$185 million $315,000 Manual Security Pricing
$200 million $330,000 $125 per month - greater than 10/day
$225 million $345,000 Factor Services (BondBuyer)
$250 million $360,000 Per CMO - $1.50/month
over $250 million 6 bp Per Mortgage Backed - $0.25/month
Minimum - $300/month
* Subject to CPI increase. *Effective with the first
day after expiration of the first twelve (12) months of
service, the fees and charges set forth in this
Schedule shall be increased over the fees and charges
during the previous twelve (12) months in the amount
equal to the change in the Consumer Price Index for all
Urban Consumers in the Milwaukee, Wisconsin
Metropolitan Statistical Area, All Terms, Based
1982-1984 = 100, as last reported by the U.S. Bureau of
Labor Statistics ("CPI-U"). Thereafter, all of the
fees and charges in this fee schedule (except for
out-of-pocket expenses) shall increase annually upon
each anniversary of this Schedule in an amount equal to
the percentage change in the CPI-U for the proceeding
twelve (12) months.
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XXXXX AND AMERICAN EAGLE FUNDS
FUND ADMINISTRATION & COMPLIANCE SERVICES
ANNUAL FEE SCHEDULE AT 1/1/2006
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Domestic Funds CCO Support Services - $1,200 per year*
Annual fee based upon assets per fund* International Funds
8 basis points on the first $300 million
7 basis points on the next $500 million Annual fee based upon assets per fund*
4 basis points on the balance 9 basis points on the first $200 million
Minimum annual fee: $40,000 first fund 8 basis points on the next $300 million
$35,000 each additional fund 6 basis points on the next $500 million
4 basis points on the balance
Extraordinary services - quoted separately Minimum annual fee: $50,000 per fund
Multiple Classes - Add the following per class: Extraordinary services - quoted separately
1 basis point at each level
$15,000 per fund minimum Multiple Classes - Add the following per class:
1 basis point at each level
Annual legal administration - Add: $15,000 per fund minimum
1 basis point at each level
$5,000 additional minimum Annual legal administration - Add:
1 basis point at each level
Waive above fees for the following: $5,000 additional minimum
16 basis points on net assets
$220,000 annual fund group minimum Plus out-of-pocket expenses, including but not limited to:
Postage, Stationery
Plus out-of-pocket expenses, including but not limited to: Programming, Special Reports
Postage, Stationery Proxies, Insurance
Programming, Special Reports XXXXX filing - Approx. $11.00/page
Proxies, Insurance Retention of records
XXXXX filing - Approx. $11.00/page Federal and state regulatory filing fees
Retention of records Certain insurance premiums
Federal and state regulatory filing fees Expenses from board of directors meetings
Certain insurance premiums Auditing and legal expenses
Expenses from board of directors meetings Blue Sky conversion expenses (if necessary)
Auditing and legal expenses All other out-of-pocket expenses
Blue Sky conversion expenses (if necessary)
All other out-of-pocket expenses Fees are billed monthly.
Fees are billed monthly. * Subject to CPI increase.
* Subject to CPI increase.
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*Effective with the first day after expiration of the first twelve (12) months of service, the fees and charges set
forth in this Schedule shall be increased over the fees and charges during the previous twelve (12) months in the amount
equal to the change in the Consumer Price Index for all Urban Consumers in the Milwaukee, Wisconsin Metropolitan
Statistical Area, All Terms, Based 1982-1984 = 100, as last reported by the U.S. Bureau of Labor Statistics ("CPI-U").
Thereafter, all of the fees and charges in this fee schedule (except for out-of-pocket expenses) shall increase annually
upon each anniversary of this Schedule in an amount equal to the percentage change in the CPI-U for the proceeding
twelve (12) months.
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XXXXX AND AMERICAN EAGLE FUNDS
INTERNET SERVICES
ANNUAL FEE SCHEDULE AT 1/1/2006
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VISION MUTUAL FUND GATEWAY - Permits broker/dealers, financial planners, and
RIAs to us a web-based system to perform order and account inquiry,
execute trades, print applications, review prospectuses, and establish
new accounts.
Inquiry Only
o Inquiry - $.05 per event
o Per broker ID - $5.00 per month per ID
Transaction Processing
o Implementation - $5,000 per management company
o Transaction - purchase, redeem, exchange, literature order - $.50
per event
o New Account Set-up - may contain multiple fund/accounts - $3.00
per event
o Monthly Minimum Charge - $500.00 per month
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XXXXX AND AMERICAN EAGLE FUNDS - MUTUAL FUND EXCHANGE (MFX) SERVICE SUITE
ANNUAL FEE SCHEDULE AT 1/1/2006
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MFX WEB SERVICES
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A. MFS ON-LINE SYSTEMS ACCESS
On-line internet access to U.S. Bancorp systems
Setup - $1,500 initial setup per concurrent connection
(up to 5 workstations each)
Service - $125/month per concurrent connection - internet
access; $125/month per concurrent connection - 3270 access
FundSource Access - Quoted separately
Number of concurrent connections required 1
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Total Monthly Fee (@ $125) $125
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B. IMAGE AND/OR COLD ON-LINE ACCESS
On-line internet access to U.S. Bancorp shareholder document
images, statements and tax advices (COLD)
Setup - $1,500 initial setup per concurrent connection
(up to 5 workstations each)
Service - $325/month/concurrent connection
Number of concurrent connections required 0
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Total Monthly Fee (@ $325) $0
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C. REPORTSOURCE
On-line internet access to standard reports and files
from various U.S. Bancorp data sources
No initial setup charge
$125/month for each of the following data sources
(Check required reports) 0
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Fund Accounting Reports 0
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Transfer Agent Reports 0
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Fund Administration Reports 0
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Prospect Services Reports 0
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Custody Reports 0
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Data Warehouse Reports 0
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Total number of services required 0
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Total Monthly Fee (@ $125) $0
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All prices exclude out-of-pocket expenses and, if necessary, hardware costs,
travel, etc. All prices subject to change depending upon client requirements.
* Assumes that NAV/Distribution history is provided to U.S. Bancorp in Excel
format, otherwise setup charge subject to change.
** Delivery up to 5 sites
Customization charged at $150/hour, if necessary.
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MFX DATA DELIVERY SERVICES
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A. PERFORMANCE DELIVERY SERVICES
(1) DAILY NAV FEED
Daily automated feed of fund price and portfolio data to
external sites
Setup - $100/fund, $600 minimum (subject to degree of
customization), ($2,500 Additional FTP setup per site or FTP
address)
Service - $100/fund/month
Number of funds required 0
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Total Monthly Fee (@ $100) $0
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(2) STANDARD RATE OF RETURN SERVICES
Fund performance calculation (daily or periodic)
Setup - $500/fund* ($1,000/fund initial setup for non-fund
administration clients, $5,000 minimum), ($2,500 Additional
FTP setup per site or FTP address).
Number of sites required.
Pre-Tax Service - $200/fund/month**
Number of funds required 0
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Total Monthly Fee (@ $200) $0
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(3) AFTER-TAX PERFORMANCE SERVICES
Post-Tax Service - $300/fund/month**
Number of funds required
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Total Monthly Fee (@ $300) $0
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B. SFX - SECURE FILE EXCHANGE
(1) GUI - Graphical User Interface
No initial setup charge
$125/month/fund group (up to 5 file transfers)
Number of funds
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Total Monthly Fee (@ $125) $0
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(2) Automated file delivery to client site
$2,500 initial setup per site
$195/month - up to 5 automated file transfers
Number of funds
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Total Monthly Fee (@ $195) $0
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TOTAL MONTHLY FEE $125
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SETUP FEE SUMMARY
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MFS On-line Systems Access $ -
Image/COLD On-line Access $ -
ReportSource $ -
Daily NAV Feed $ -
Standard Rate of Return $ -
Automated File Delivery $ -
FTP Setup $ -
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Total Setup Charges $ -
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XXXXX AND AMERICAN EAGLE FUNDS
PROSPECT SERVICING
ANNUAL FEE SCHEDULE AT 1/1/2006
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FULL SERVICE (INBOUND TELESERVICING AND KIT ASSEMBLY LEAD CONVERSION REPORTING
AND MAILING) Account Management $ 700/month
Database Installation, Setup $1,500/fund group
TIER 1 (0-50 orders per month)
Account Management $ 300/month
WEB ON-LINE FUND FULFILLMENT
TIER 2 (51-250 orders per month) Account Management $ 500/month
Account Management $ 300/month Installation, Setup $ 0 (NC)
First 50 orders NC Per Retail Request $ .40/retail request
Per order over 50 $ 4.00/order Per Intermediary Request $ .60/retail request
TIER 3 (251-500 orders per month)
Account Management $ 1,000/month FOLLOW-UP SERVICES
First 250 orders NC Correspondence $2.00/letter
Per order over 250 $ 3.50/order E-mail Correspondence (Separate Quote)*
Telemarketing (Separate Quote)*
TIER 4 (over 500 orders per month) Customized Services (Separate Quote)*
Account Management $ 2,000/month
First 500 orders NC *Dependent upon client requirements
Per order over 500 $ 3.00/order
All fees are billed monthly plus out-of-pocket expenses,
E-mail/internet Lead Origination - $2.50 per request including, but not limited to:
Customized reporting development ($150.00/hour)
Service includes account management, lead reporting, call Postage, stationery
servicing, database management, kit assembly and mailing Programming, special reports
(excluding postage and materials). Retention of records
File transmission charges
Legal expenses
INBOUND TELESERVICING (ONLY) All other out-of-pocket expenses
Account Management $100/month
Call Servicing $.99/minute
Base Reporting Services Included.
Assumes that client is responsible for costs associated
with order delivery.
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XXXXX AND AMERICAN EAGLE FUNDS
DOMESTIC CUSTODY SERVICES
FEE SCHEDULE AT 1/1/2006
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ANNUAL FEE BASED UPON MARKET VALUE PER FUND*
1.00 basis point upon market value
Minimum annual fee per fund - $3,000
CCO SUPPORT SERVICES - $1,200 per year*
PORTFOLIO TRANSACTION FEES
$ 5.00 per disbursement (waived if U.S. Bancorp is Administrator)
$ 6.00 per US Bank repurchase agreement transaction
$ 12.00 per book entry security (depository or Federal Reserve system) and
non-US Bank repurchase agrmt
$ 25.00 per portfolio transaction processed through our New York custodian
definitive security (physical)
$ 8.00 per principal paydown
$ 35.00 per option/future contract written, exercised or expired
$ 75.00 per Cedel/Euroclear transaction
$ 25.00 per mutual fund trade
$ 15.00 per Fed Wire
$ 15.00 per margin variation Fed wire
$ 6.00 per short sale
$150.00 per segregated account per year
ReportSource - $150 /month - Web reporting
o A transaction is a purchase/sale of a security, free receipt/free delivery,
maturity, tender or exchange.
o No charge for the initial conversion free receipt.
o Overdrafts - charged to the account at prime interest rate plus 2.
o Plus out-of-pocket expenses, and extraordinary expenses based upon
complexity, including items such as shipping
fees or transfer fees.
Fees are billed monthly.
* Subject to CPI increase, Milwaukee MSA.
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