Exhibit 99.(h)(iii)
AMENDMENT TO
ADMINISTRATION AND ACCOUNTING SERVICES AGREEMENT
This Amendment dated as of January 1, 2003 is entered into by DRIEHAUS
MUTUAL FUNDS (the "Fund") and PFPC INC. ("PFPC").
WHEREAS, the Fund and PFPC have entered into an Administration and
Accounting Services Agreement dated as of September 25, 1996, as amended from
time to time, (the "Agreement") on behalf of its Portfolios listed in Exhibit A
of said Agreement.
WHEREAS, the Fund desires that PFPC perform certain regulatory
administrative services for the Portfolios and PFPC desires to perform such
services; and
WHEREAS, the Fund and PFPC wish to amend the Agreement accordingly.
NOW, THERFORE, intending to be legally bound hereby the parties hereto
agree as follows:
I. The following is hereby added to the Agreement under the Section
entitled "Description of Administration Services on a Continuous Basis":
In addition, PFPC will perform the following regulatory administration
services with respect to the Portfolios:
(i) Prepare and coordinate with the Fund's counsel the annual
Post-Effective Amendments and supplements to the Fund's Registration
Statement, and coordinate with the Fund's financial printer to make
such filings in a timely manner with the SEC;
(ii) Assist in obtaining the fidelity bond and directors' and
officers'/errors and omissions insurance policies for the Fund in
accordance with the requirements of Rules 17g-1 and 17d-1(d)(7) under
the 1940 Act as such bond and policies are approved by the Fund's
Board;
(iii) Timely file the Fund's fidelity bond with the SEC; and monitor the
Fund's assets to assure adequate fidelity bond coverage is maintained;
(iv) Draft agendas, resolutions, and materials for quarterly and special
Board and Audit Committee meetings, and draft written consents of the
Board;
(v) Coordinate the preparation, assembly and mailing of Board and Audit
Committee materials;
(vi) Attend Board meetings (and make presentations at such meetings as
appropriate); attend Audit Committee meetings; draft minutes of such
Board and Audit Committee meetings;
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(vii) Maintain the Fund's corporate calendar to assure compliance with
various SEC filing and Board approval deadlines;
(viii) Mail to appropriate parties the personal securities transaction
quarterly reporting forms under the Fund's Code of Ethics pursuant to
Rule 17j-1 under the 1940 Act;
(ix) Assist the Fund in the handling of SEC examinations and responses
thereto;
(x) Maintain the Fund's files in accordance with 1940 Act requirements; and
(xi) Periodically apprise Fund management of current regulatory
developments.
II. As compensation for the foregoing services, as well as for extra
regulatory administration services as may be mutually agreed from time to time,
rendered by PFPC during the term of the Agreement, the Fund, on behalf of the
Portfolios, will pay to PFPC a fee or fees as may be agreed to in writing by the
Fund and PFPC.
III. This Agreement contains the entire understanding between the parties
with respect to the subject matter hereof. To the extent that any provision of
this Amendment modifies or is otherwise inconsistent with any provision of the
Agreement, this Amendment shall control, but the Agreement shall otherwise
remain in full force and effect.
IN WITNESS WHEREOF, the parties hereof have caused this Amendment to be duly
executed as of the day and year first above written.
DRIEHAUS MUTUAL FUNDS, on its behalf and
on behalf of the Portfolios
By: /s/ Xxxxxx X. Xxxxx
---------------------------------
Name: Xxxxxx X. Xxxxx
---------------------------------
Title: Senior Vice President
PFPC INC.
By: /s/ Xxxx X. Xxxxxxx
---------------------------------
Name: Xxxx X. Xxxxxxx
---------------------------------
Title: Senior Vice President
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