AMENDMENT NO. 1 TO THE ADMINISTRATION AND ACCOUNTING AGREEMENT
This Amendment No. 1 (the "Amendment") is made as of January 4, 2004 to the
Administration Agreement made as of the 8th day of October, 2001 (the
"Agreement") by and between Xxxxxxxx Series Trust, a Massachusetts Business
Trust (the "Trust") and SEI INVESTMENTS MUTUAL FUNDS SERVICES ("the
Administrator").
WHEREAS, the Administrator, now known as SEI Investments Global Funds
Services, provides administration and accounting services to the Trust;
WHEREAS each of the parties to the Agreement now wish to amend Schedule
B of the Agreement to effect the addition of three new portfolios of the Trust;
WHEREAS Article 13 of the Agreement permits amendment only by an
instrument in writing signed by the party against which enforcement of the
change may be sought, being both parties in this case;
NOW THEREFORE, for and in consideration of the promises and the mutual
covenants herein contained, the parties hereby agree as follows:
1. Schedule B to the Agreement shall be replaced in its entirety with the
amended Schedule B attached hereto as Exhibit A.
2. Except as specifically set forth herein, all other provisions of the
Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the date
first written above.
SEI INVESTMENTS GLOBAL FUNDS SERVICES XXXXXXXX SERIES TRUST
By: By:
-------------------------------- --------------------------------
Name: Name:
Title: Title:
SCHEDULE B
TO THE ADMINISTRATION AGREEMENT
DATED AS OF OCTOBER 8, 2001,
AMENDED AS OF JANUARY 4, 2004
BETWEEN
XXXXXXXX SERIES TRUST
AND
SEI INVESTMENTS GLOBAL FUNDS SERVICES
Portfolios: This agreement shall apply with respect to all portfolios of the
Trust, either now existing or in the future created. The following
is a list of the current portfolios of the Trust (collectively,
the "Portfolios"):
Xxxxxxxx Mid Cap Value Fund
Xxxxxxxx Small Capitalization Value Fund
Xxxxxxxx Municipal Bond Fund
Xxxxxxxx Short-Term Municipal Bond Fund
Fees: Pursuant to Article 4, commencing as of January 4, 2004, each
Portfolio shall pay the Administrator its pro rata portion of the
following fees, calculated based upon the aggregate average daily
net assets of Xxxxxxxx Capital Funds (Delaware) and Xxxxxxxx
Series Trust (the "Xxxxxxxx Funds Complex"):
0.15% on the first $300 million of average daily net assets 0.12%
on average daily net assets in excess of $300 million
This fee schedule is subject to a cumulative minimum annual fee
for the Xxxxxxxx Funds Complex of eight (8) Portfolios in
existence as of the date of this agreement, in the amount of
$538,000 for all such portfolios and classes.
The minimum fee shall be increased for each Portfolio in excess of
eight (8) Portfolios in the Xxxxxxxx Funds Complex in existence as
of the date of this Amendment, as follows: $50,000 for each
Portfolio that invests primarily in domestic securities and
$70,000 for each Portfolio that invests primarily in international
securities.
The minimum fee shall be increased for each new class added to any
Portfolio in the Xxxxxxxx Funds Complex after the date of this
Amendment, as follows: $12,500 for each new class added to a
Portfolio that invests primarily in domestic securities, and
$17,500 for each new class added to a Portfolio that invests
primarily in international securities.
The minimum fee shall be decreased if any Portfolio in the
Xxxxxxxx Funds Complex is fully liquidated after the date of this
Amendment, as follows: $50,000 for each Portfolio that invests
primarily in domestic securities and $70,000 for each Portfolio
that invests primarily in international securities.
The minimum fee shall be decreased if any class in the Xxxxxxxx
Funds Complex is liquidated after the date of this Amendment, as
follows: $12,500 for each class that invests primarily in domestic
securities, and $17,500 for each class that invests primarily in
international securities.
Notwithstanding the foregoing, under no circumstances will the
minimum annual fee for the Xxxxxxxx Funds Complex be less than
$400,000 for all portfolios and classes in existence during the
term of the Agreement.
Term: This Amendment shall become effective on January 4, 2004, and the
Agreement shall remain in effect through October 31, 2004
("Initial Term") and, thereafter, shall renew and continue in full
force and effect unless and until the Agreement is terminated by
either party in accordance with the provisions of Article 6
thereof.
[END OF SCHEDULE B]
