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Exhibit 8(a)-1.8
July 18, 1990
XX Xxxxxx Trust Funds
000 Xxxxx Xxxxxxxx Xxxxxx
Xxxxx 0000
Xxx Xxxxxxx, Xxxxxxxxxx 00000
RE: Revised Custodian, Transfer Agency and Registrar and
Sub-Administration Fees
Gentlemen:
This letter constitutes our agreement with respect to compensation to
be paid to (i) Boston Safe Deposit and Trust Company ("Boston Safe") under the
terms of the Custodian Agreement dated July 7, 1989 and as supplemented on July
18, 1990 between XX Xxxxxx Trust Funds (the "Company") and Boston Safe; (ii) The
Shareholder Services Group, Inc. ("TSSG") under the terms of a Transfer Agency
and Registrar Agreement dated as of June 1, 1989 and as supplemented on July 18,
1990 between the Company and TSSG; and (iii) The Boston Company Advisors, Inc.
("Boston Advisors") under the terms of a Sub-Administration Agreement dated July
7, 1989 and as supplemented July 18, 1990 between Great Western Fund
Administration Corporation ("GW Administration") and Boston Advisors. For the
services to be provided under the aforementioned agreements, GW Administration
will pay Boston Advisors for its services and, as agent for TSSG and Boston
Safe, for the services that each will provide to the Company, the following:
1. With regard to each Fund except the GW Strategic International
Equity Fund, an asset based fee at the annual rate of .25% of the first $500
million of the Company's aggregate average daily net assets, .23% of the next
$500 million of the Company's aggregate average daily net assets and .20% in
excess of $1 billion, applied to each Fund's average daily net assets, and
exclusive of certain out-of-pocket expenses. The fee shall be calculated daily
and paid monthly.
2. With regard to the GW Strategic International Fund, an asset based
fee at the annual rate of .35% of the first $500 million of the Company's
aggregate average daily net assets, .30% of the next $500 million of the
Company's aggregate average daily net assets and .25% in excess of $1 billion,
applied to the average daily net assets of the GW Strategic International Fund
and exclusive of certain out-of-pocket expenses. The fee shall be calculated
daily and paid monthly.
3. A minimum annual fee will be paid to Boston Advisors by GW
Administration in the amount of $20,000 for services provided to the GW National
Municipal Income, GW Corporate Income and GW Equity Opportunity Funds and a
minimum annual fee will be paid to Boston Advisors in the amount of $30,000 for
services provided to the GW Strategic International Fund.
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The fee for the period from the day of the year this agreement is entered into
until the end of that year shall be pro-rated according to the proportion which
such period bears to the full annual period. The Company shall pay the following
portfolio transaction charges and out-of-pocket expenses directly to Boston
Advisors, as payment agent under aforementioned agreements:
Portfolio transaction charges for all Funds except GW Strategic
International Fund:
Fee per non-depository eligible $30.00
Fee per depository eligible $10.00
Repo/depository $10.00
Repo/non-depository $17.00
Physical/Government $30.00
Physical/Corp. and Muni $30.00
Commercial Paper $30.00
Global $35.00
Euro CD's $30.00
Time Deposits $30.00
Mortgage-Backed Securities Paydowns $12.00
Options: Open/Closed $25.00
Options: Exer./Expired $10.00
Futures $25.00
Cash Transactions $10.00
Foreign exchange transactions when done away from
BSD&T $20.00
Portfolio transaction charges for GW Strategic International Fund:
Global/physical delivery $50.00
Global/depository eligible $35.00
Foreign exchange transactions when done away from
BSD&T $20.00
Monthly charges for each security held $5.00
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4. Out-of-pocket expenses, including, but not limited to, postage,
telephone, telex, courier service, copying, toll-free lines (if required by
you), forms, envelopes, hardware/phone lines for remote terminals (if required
by you), microfiche/microfilm, wire fees for receipt and disbursement, mailing
fee and cost of proxy solicitation, mailing and tabulation, cost of independent
pricing services, subcustodian out-of-pocket expenses and any items listed on
Schedule B to the Custody and Transfer Agency and Registrar Agreements.
5. Boston Safe allows a credit against its fees for cash balances
arising out of the custody relationship. The credit for cash balances is
calculated as follows: Average monthly cash balances times 75% of the 90 day
T-xxxx rate.
Boston Safe, TSSG and Boston Advisors each accepts the payment to
Boston Advisors, hereunder as full payment from GW Administration and/or the
Company (in the case of portfolio transaction charges and certain out-of-pocket
expenses) under the terms of their respective agreements with the Company.
This fee letter supersedes all fee letters dated prior to July 18,
1990.
If the forgoing accurately sets forth our agreement and you intend to
be legally bound thereby, please execute a copy of this letter and return it to
us.
Very truly yours,
THE BOSTON COMPANY ADVISORS, INC.
BY: /s/ Xxxxx Xxxxxx
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BOSTON SAFE DEPOSIT AND TRUST COMPANY
BY: /s/
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THE SHAREHOLDER SERVICES GROUP, INC.
BY: /s/
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Accepted: XX XXXXXX TRUST FUNDS
BY: /s/ Xxxxx Xxxxxx
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Accepted: GREAT WESTERN FUND ADMINISTRATION CORPORATION
BY: /s/ Tai-Xxxx Xxxx
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