FORM OF AMENDMENT NO. 1 TO THE MUTUAL FUNDS SERVICE AGREEMENT
Exhibit (h)(1)(i)
FORM OF
AMENDMENT NO. 1
TO THE
MUTUAL FUNDS SERVICE AGREEMENT
AMENDMENT NO. 1 dated as of September 1, 2013 to the Mutual Funds Service Agreement dated as of May 1, 2011 (“Agreement”) between AXA Premier VIP Trust, a Delaware statutory trust (“Trust”) and AXA Equitable Funds Management Group, LLC (“FMG LLC”), a Delaware limited liability company.
The Trust and FMG LLC hereby agree to modify and amend the Agreement as follows:
1. Schedule A: Schedule A to the Agreement is hereby replaced in its entirety by Schedule A attached hereto.
Except as modified and amended hereby, the Agreement is hereby ratified and confirmed in full force and effect in accordance with its terms.
IN WITNESS WHEREOF, the parties have executed and delivered this Amendment No. 1 as of the date first above set forth.
AXA PREMIER VIP TRUST | AXA EQUITABLE FUNDS MANAGEMENT GROUP, LLC | |||||||
By: | By: | |||||||
Xxxxx Xxxxx Chief Financial Officer and Treasurer |
Xxxxxx X. Xxxxx Chairman, Chief Executive Officer and President |
SCHEDULE A
FORM OF AMENDMENT NO. 1 TO
MUTUAL FUNDS SERVICE AGREEMENT
Fees and Expenses
Trust Administration, Accounting and Compliance Fees
A. | For the services rendered under this Agreement, the Trust shall pay to FMG LLC an annual fee in accordance with the following schedule: |
(i) | (a) $32,500 for each Allocation and Target Allocation Portfolio; and |
(b) $32,500 for each Multimanager Portfolio whose total average annual net assets are less than $5 billion; and
(ii) | With respect to the Multimanager Portfolios: |
0.150 of 1% of total assets of the Multimanager Portfolios up to and including $15 billion;
0.125 of 1% of total assets of the Multimanager Portfolios in excess of $15 billion and up to and including $30 billion;
0.100 of 1% of total assets of the Multimanager Portfolios in excess of $30 billion; and
(iii) | With respect to the Allocation Portfolios and Target Allocation Portfolios, the following fee shall be calculated separately for each Allocation Portfolio and Target Allocation Portfolio: |
0.150 of 1% of total assets of each Allocation Portfolio and each Target Allocation Portfolio up to and including $15 billion;
0.125 of 1% of total assets of each Allocation Portfolio and each Target Allocation Portfolio in excess of $15 billion and up to and including $20 billion;
0.100 of 1% of total assets of each Allocation Portfolio and each Target Allocation Portfolio in excess of $20 billion.
B. | The foregoing calculations are based on the average daily net assets of the Trust as described. The fees for the (i) Multimanager Portfolios will be computed on a quarterly basis and billed and paid on an annual basis; and (ii) the Allocation Portfolios and Target Allocation Portfolios will be computed, billed and paid on an annual basis. |
C. | Approved out-of-pocket expenses, as provided in Section 5 will be computed, billed and payable monthly. |