COLUMBIA UTILITIES FUND
MANAGEMENT AGREEMENT
AGREEMENT dated as of the 27th day of March, 2006 between COLUMBIA FUNDS SERIES
TRUST I (the "Trust"), on behalf of its COLUMBIA UTILITIES FUND series (the
"Fund") and COLUMBIA MANAGEMENT ADVISORS, LLC (the "Advisor"). The Trust is
registered as an open-end investment company pursuant to the Investment Company
Act of 1940 (the "Act"). The Advisor is registered as an investment adviser
pursuant to the Investment Advisers Act of 1940. This Agreement relates to
services to be performed by the Advisor with respect to the Fund.
The parties agree as follows:
1. The Advisor will manage the investment of the assets of the Fund in
accordance with its prospectus and statement of additional information
and will perform the other services herein set forth, subject to the
supervision of the Board of Trustees of the Trust. The Advisor may
delegate its investment responsibilities to a sub-advisor.
2. In carrying out its investment management obligations, the Advisor
shall:
(a) evaluate such economic, statistical and financial information and
undertake such investment research as it shall believe advisable; (b)
purchase and sell securities and other investments for the Fund in
accordance with the procedures described in its prospectus and
statement of additional information; and (c) report results to the
Board of Trustees of the Trust.
3. The Advisor shall furnish at its expense the following:
(a) office space, supplies, facilities and equipment; (b) executive and
other personnel for managing the affairs of the Fund (including
preparing financial information of the Fund and reports and tax returns
required to be filed with public authorities, but exclusive of those
related to custodial, transfer, dividend and plan agency services,
determination of net asset value and maintenance of records required by
Section 31(a) of the Act, as amended, and the rules thereunder); and
(c) compensation of Trustees who are directors, officers, partners or
employees of the Advisor or its affiliated persons (other than a
registered investment company).
4. The Advisor shall be free to render similar services to others so long
as its services hereunder are not impaired thereby.
5. The Fund shall pay the Advisor monthly a fee at the annual rate of
0.65% of the first $1 billion of the average daily net assets of the
Fund and 0.60% in excess of $1 billion.
6. If the operating expenses of the Fund for any fiscal year exceed the
most restrictive applicable expense limitation for any state in which
shares are sold, the Advisor's fee shall be reduced by the excess but
not to less than zero. Operating expenses shall not include brokerage,
interest, taxes, deferred organization expenses, Rule 12b-1
distribution fees, service fees and extraordinary expenses, if any. The
Advisor may waive its compensation (and bear expenses of the Fund) to
the extent that expenses of the Fund exceed any expense limitation the
Advisor declares to be effective.
7. This Agreement shall become effective as of the date of its execution,
and
(a) unless otherwise terminated, shall continue from year to year so long
as approved annually in accordance with the Act; (b) may be terminated
without penalty on sixty days' written notice to the Advisor either by vote
of the Board of Trustees of the Trust or by vote of a majority of the
outstanding shares of the Fund; (c) shall automatically terminate in the
event of its assignment; and (d) may be terminated without penalty by the
Advisor on sixty days' written notice to the Trust.
8. This Agreement may be amended in accordance with the Act.
9. For the purpose of the Agreement, the terms "vote of a majority of the
outstanding shares", "affiliated person" and "assignment" shall have their
respective meanings defined in the Act and exemptions and interpretations issued
by the Securities and Exchange Commission under the Act.
10. In the absence of willful misfeasance, bad faith or gross negligence on the
part of the Advisor, or reckless disregard of its obligations and duties
hereunder, the Advisor shall not be subject to any liability to the Trust or the
Fund, to any shareholder of the Trust or the Fund or to any other person, firm
or organization, for any act or omission in the course of, or connected with,
rendering services hereunder.
[Remainder of page intentionally left blank.]
IN WITNESS WHEREOF the parties have caused this Agreement to be executed as
of the day and year first written above.
COLUMBIA FUNDS SERIES TRUST I, on behalf of its
COLUMBIA UTILITIES FUND series
By: /s/ Xxxxxxxxxxx X. Xxxxxx
------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: President
COLUMBIA MANAGEMENT ADVISORS, LLC
By: /s/ Xxxxx Xxxxxx
------------------------------------
Name: Xxxxx Xxxxxx
Title: Managing Director
A copy of the document establishing the Trust is filed with the Secretary of The
Commonwealth of Massachusetts. This Agreement is executed by officers not as
individuals and is not binding upon any of the Trustees, officers or
shareholders of the Trust individually but only upon the assets of the Fund.
