EXHIBIT (9)(A)
CORE TRUST (DELAWARE)
ADMINISTRATION AGREEMENT
AGREEMENT made as of the 1st day of December, 1997, by and between Core
Trust (Delaware), a Delaware Business Trust, with its principal office and place
of business at Two Portland Square (the "Trust"), and Forum Administrative
Services, Limited Liability Company, a Delaware limited liability company with
its principal office and place of business at Xxx Xxxxxxxx Xxxxxx, Xxxxxxxx,
Xxxxx 00000 ("Forum").
WHEREAS, the Trust is registered under the Investment Company Act of
1940, as amended (the "1940 Act"), as an open-end management investment company
and may issue its shares of beneficial interest (the "Units"), in separate
series and classes; and
WHEREAS, the Trust offers its shares in various series as listed in
Appendix A hereto (each such series, together with all other series subsequently
established by the Trust and made subject to this Agreement in accordance with
Section 6, being herein referred to as a "Portfolio," and collectively as the
"Portfolios"); and
WHEREAS, the Trust desires that Forum perform certain administrative
services for each Portfolio thereof and Forum is willing to provide those
services on the terms and conditions set forth in this Agreement;
NOW THEREFORE, for and in consideration of the mutual covenants and
agreements contained herein, the Trust and Forum hereby agree as follows:
SECTION 1. APPOINTMENT; DELIVERY OF DOCUMENTS
(a) The Trust hereby appoints Forum, and Forum hereby agrees, to act as
administrator of the Trust for the period and on the terms set forth in this
Agreement.
(b) In connection therewith, the Trust has delivered to Forum copies of
(i) the Trust's Trust Instrument and, if applicable, Bylaws (collectively, as
amended from time to time, "Organic Documents"), (ii) the Trust's Registration
Statement and all amendments thereto filed with the U.S. Securities and Exchange
Commission ("SEC") pursuant the 1940 Act (the "Registration Statement"), (iii)
the current Part A and Part B of each Portfolio's Registration Statement
(collectively, as currently in effect and as amended or supplemented, the
"Offering Document"), (iv) each plan of distribution or similar document adopted
by the Trust under Rule 12b-1 under the 1940 Act ("Plan") and each current
shareholder service plan or similar document adopted by the Trust ("Service
Plan"), and (v) all procedures adopted by the Trust with respect to the
Portfolios (i.e., repurchase agreement procedures), and shall promptly furnish
Forum with all amendments of or supplements to the foregoing. The Trust shall
deliver to Forum a certified
copy of the resolution of the Board of Trustees of the Trust (the "Board")
appointing Forum and authorizing the execution and delivery of this Agreement.
SECTION 2. DUTIES OF FORUM AND THE TRUST
(a) Subject to the direction and control of the Board, Forum shall
manage all aspects of the Trust's operations with respect to the Portfolios
except those that are the responsibility of any investment adviser, or
investment subadviser to a Portfolio (collectively, the "Adviser") or any other
service provider hired by the Trust, all in such manner and to such extent as
may be authorized by the Board.
(b) With respect to the Trust or each Portfolio, as applicable, Forum
shall:
(i) at the Trust's expense, provide the Trust with, or arrange for the
provision of, the services of persons competent to perform such legal,
administrative and clerical functions not otherwise described in this
Section 2(b) as are necessary to provide effective operation of the
Trust;
(ii) oversee (A) the preparation and maintenance by the Advisers and
the Trust's custodian, interestholder recordkeeper and fund accountant
in such form, for such periods and in such locations as may be required
by applicable United States law, of all documents and records relating
to the operation of the Trust required to be prepared or maintained by
the Trust or its agents pursuant to applicable law; (B) the
reconciliation of account information and balances among the Advisers
and the Trust's custodian, interestholder recordkeeper and fund
accountant; (C) the transmission of purchase and redemption orders for
Units; (D) the notification to the Advisers of available funds for
investment; and (E) the performance of fund accounting, including the
calculation of the net asset value of the Units;
(iii) oversee the performance of administrative and professional
services rendered to the Trust by others, including its custodian and
interestholder recordkeeper as well as legal, auditing, interestholder
recordkeeping and other services performed for the Portfolios;
(iv) file or oversee the filing of each document required to be filed
by the Trust in either written or, if required, electronic format
(e.g., electronic data gathering analysis and retrieval system or
"XXXXX") with the SEC;
(v) assist in and oversee the preparation, filing and printing and the
periodic updating of the Registration Statement and Offering Documents;
(vi) oversee the preparation and filing of the Trust's tax returns;
(vii) oversee the preparation of financial statements and related
reports to the Trust's interestholders, the SEC and state and other
securities administrators;
(xiii) assist in and oversee the preparation and printing of proxy and
information statements and any other communications to interestholders;
(ix) provide the Trust with adequate general office space and
facilities and provide persons suitable to the Board to serve as
officers of the Trust;
(x) assist the Advisers in monitoring Portfolio holdings for compliance
with Offering Document investment restrictions and assist in
preparation of periodic compliance reports;
(xi) prepare, file and maintain the Trust's Organic Documents and
minutes of meetings of Trustees, Board committees and interestholders;
(xii) with the cooperation of the Trust's counsel, Advisers, the
officers of the Trust and other relevant parties, prepare and
disseminate materials for meetings of the Board;
(xiii) maintain the Trust's existence and good standing under
applicable state law;
(xiv) if required, monitor sales of Units, ensure that the Units are
properly and duly registered with the SEC and register, or prepare
applicable filings with respect to, the Units with the various state
and other securities commissions;
(xv) oversee the calculation of performance data for dissemination to
information services covering the investment company industry, for
sales literature of the Trust and other appropriate purposes;
(xvi) oversee the determination of the amount of and supervise
distributions to interestholders and prepare and distribute to
appropriate parties notices announcing the Trust's distributions to
interestholders;
(xvii) advise the Trust and the Board on matters concerning the Trust
and its affairs;
(xviii) calculate, review and account for Portfolio expenses and report
on Portfolio expenses on a periodic basis;
(xix) authorize the payment of Trust expenses and pay, from Trust
assets, all bills of the Trust;
(xx) prepare Portfolio budgets, pro-forma financial statements, expense
and profit/loss projections and fee waiver/expense reimbursement
projections on a periodic basis;
(xxi) prepare financial statement expense information;
(xxii) assist the Trust in the selection of other service providers,
such as independent accountants, law firms and proxy solicitors; and
(xxii) perform such other recordkeeping, reporting and other tasks as
may be specified from time to time in the procedures adopted by the
Board; provided, that Forum need not begin performing any such task
except upon 65 days' notice and pursuant to mutually acceptable
compensation agreements.
(c) Forum shall provide such other services and assistance relating to
the affairs of the Trust as the Trust or an Adviser may, from time to time,
reasonably request pursuant to mutually acceptable compensation agreements.
(d) Forum shall maintain records relating to its services, such as
journals, ledger accounts and other records, as are required to be maintained
under the 1940 Act and Rule 31a-1 thereunder. The books and records pertaining
to the Trust that are in possession of Forum shall be the property of the Trust.
The Trust, or the Trust's authorized representatives, shall have access to such
books and records at all times during Forum's normal business hours. Upon the
reasonable request of the Trust, copies of any such books and records shall be
provided promptly by Forum to the Trust or the Trust's authorized
representatives. In the event the Trust designates a successor that assumes any
of Forum's obligations hereunder, Forum shall, at the expense and direction of
the Trust, transfer to such successor all relevant books, records and other data
established or maintained by Forum under this Agreement.
(e) Nothing contained herein shall be construed to require Forum to
perform any service that could cause Forum to be deemed an investment adviser
for purposes of the 1940 Act or the Investment Advisers Act of 1940, as amended,
or that could cause a Portfolio to act in contravention of the Portfolio's
Offering Document or any provision of the 1940 Act. Except with respect to
Forum's duties as set forth in this Section 2 and except as otherwise
specifically provided herein, the Trust assumes all responsibility for ensuring
that the Trust complies with all applicable requirements of the 1940 Act and any
laws, rules and regulations of governmental authorities with jurisdiction over
the Trust. All references to any law in this Agreement shall be deemed to
include reference to the applicable rules and regulations promulgated under
authority of the law and all official interpretations of such law or rules or
regulations.
(f) In order for Forum to perform the services required by this Section
2, the Trust (i) shall cause all service providers to the Trust to furnish any
and all information to Forum, and assist Forum as may be required and (ii) shall
ensure that Forum has access to all records and documents maintained by the
Trust or any service provider to the Trust.
SECTION 3. STANDARD OF CARE AND RELIANCE
(a) Forum shall be under no duty to take any action except as
specifically set forth herein or as may be specifically agreed to by Forum in
writing. Forum shall use its best judgment and efforts in rendering the services
described in this Agreement. Forum shall not be liable to the Trust or any of
the Trust's interestholders for any action or inaction of Forum
relating to any event whatsoever in the absence of bad faith, willful
misfeasance or gross negligence in the performance of Forum's duties or
obligations under this Agreement or by reason of Forum's reckless disregard of
its duties and obligations under this Agreement.
(b) The Trust agrees to indemnify and hold harmless Forum, its
employees, agents, directors, officers and managers and any person who controls
Forum within the meaning of section 15 of the Securities Act of 1933, as
amended, or section 20 of the Securities Exchange Act of 1934, as amended,
("Forum Indemnitees") against and from any and all claims, demands, actions,
suits, judgments, liabilities, losses, damages, costs, charges, reasonable
counsel fees and other expenses of every nature and character arising out of or
in any way related to Forum's actions taken or failures to act with respect to a
Portfolio that are consistent with the standard of care set forth in Section
3(a) or based, if applicable, on good faith reliance upon an item described in
Section 3(d) (a "Claim"). The Trust shall not be required to indemnify any Forum
Indemnitee if, prior to confessing any Claim against the Forum Indemnitee, Forum
or the Forum Indemnitee does not give the Trust written notice of and reasonable
opportunity to defend against the claim in its own name or in the name of the
Forum Indemnitee.
(c) Forum agrees to indemnify and hold harmless the Trust, its
employees, agents, trustees and officers against and from any and all claims,
demands, actions, suits, judgments, liabilities, losses, damages, costs,
charges, reasonable counsel fees and other expenses of every nature and
character arising out of Forum's actions taken or failures to act with respect
to a Portfolio that are not consistent with the standard of care set forth in
Section 3(a). Forum shall not be required to indemnify the Trust if, prior to
confessing any Claim against the Trust, the Trust does not give Forum written
notice of and reasonable opportunity to defend against the claim in its own name
or in the name of the Trust.
(d) A Forum Indemnitee shall not be liable for any action taken or
failure to act in good faith reliance upon:
(i) the advice of the Trust or of counsel, who may be counsel to the
Trust or counsel to Forum;
(ii) any oral instruction which it receives and which it reasonably
believes in good faith was transmitted by the person or persons
authorized by the Board to give such oral instruction. Forum shall have
no duty or obligation to make any inquiry or effort of certification of
such oral instruction;
(iii) any written instruction or certified copy of any resolution of
the Board, and Forum may rely upon the genuineness of any such document
or copy thereof reasonably believed in good faith by Forum to have been
validly executed; or
(iv) any signature, instruction, request, letter of transmittal,
certificate, opinion of counsel, statement, instrument, report, notice,
consent, order, or other document reasonably believed in good faith by
Forum to be genuine and to have been signed or presented by the Trust
or other proper party or parties;
and no Forum Indemnitee shall be under any duty or obligation to inquire into
the validity or invalidity or authority or lack thereof of any statement, oral
or written instruction, resolution, signature, request, letter of transmittal,
certificate, opinion of counsel, instrument, report, notice, consent, order, or
any other document or instrument which Forum reasonably believes in good faith
to be genuine.
SECTION 4. COMPENSATION AND EXPENSES
(a) In consideration of the administrative services provided by Forum
pursuant to this Agreement, the Trust shall pay Forum, with respect to each
Portfolio, the fees set forth in Appendix B hereto. These fees shall be accrued
by the Trust daily and shall be payable monthly in arrears on the first day of
each calendar month for services performed under this Agreement during the prior
calendar month. Any of the legal services identified in Appendix C hereto may be
provided to the Trust by personnel of the Legal Department of Forum, subject to
satisfaction of the conditions contained in Section 7(c). Forum shall not charge
the Trust for providing the legal services identified in Appendix C, except for
those matters designated as Special Legal Services, as to which Forum may
charge, and, subject to review and approval by the Chairman of the Audit
Committee or Trust Counsel, the Trust shall pay, an additional amount as
reimbursement of the cost to Forum of providing the Special Legal Services.
Reimbursement shall be payable monthly in arrears on the first day of each
calendar month for services performed under this Agreement during the prior
calendar month. Nothing in this Agreement shall require Forum to provide any of
the services listed in Appendix C, and each of those services may be performed
by an outside vendor if appropriate in the judgment of Forum.
If fees begin to accrue in the middle of a month or if this Agreement
terminates before the end of any month, all fees for the period from that date
to the end of that month or from the beginning of that month to the date of
termination, as the case may be, shall be prorated according to the proportion
that the period bears to the full month in which the effectiveness or
termination occurs. Upon the termination of this Agreement with respect to a
Portfolio, the Trust shall pay to Forum such compensation as shall be payable
prior to the effective date of termination.
(b) The Trust shall be responsible for and assumes the obligation for
payment of all of its expenses, including: (a) the fee payable under this
Agreement; (b) the fees payable to each Adviser under an agreement between the
Adviser and the Trust; (c) expenses of issue, repurchase and redemption of
Units; (d) interest charges, taxes and brokerage fees and commissions; (e)
premiums of insurance for the Trust, its trustees and officers and fidelity bond
premiums; (f) fees, interest charges and expenses of third parties, including
the Trust's independent accountant, custodian, interestholder recordkeeper and
fund accountant; (g) fees of pricing, interest, dividend, credit and other
reporting services; (h) costs of membership in trade associations; (i)
telecommunications expenses; (j) funds transmission expenses; (k) auditing,
legal and compliance expenses; (l) costs of forming the Trust and maintaining
its existence; (m) costs of preparing, filing and printing the Trust's Offering
Documents, subscription application forms and interestholder reports and other
communications and delivering them to existing interestholders,
whether of record or beneficial; (n) expenses of meetings of interestholders and
proxy solicitations therefor; (o) costs of maintaining books of original entry
for portfolio and fund accounting and other required books and accounts, of
calculating the net asset value of Units and of preparing tax returns; (p) costs
of reproduction, stationery, supplies and postage; (q) fees and expenses of the
Trust's trustees; (r) compensation of the Trust's officers and employees and
costs of other personnel (who may be employees of the Adviser, Forum or their
respective affiliated persons) performing services for the Trust; (s) costs of
Board, Board committee, interestholder and other corporate meetings; (t) SEC
registration fees and related expenses; (u) state, territory or foreign
securities laws registration fees and related expenses; and (v) all fees and
expenses paid by the Trust in accordance with any Plan or Service Plan or
agreement related to similar manners.
(c) Should the Trust exercise its right to terminate this Agreement,
the Trust, on behalf of the applicable Portfolio, shall reimburse Forum for all
out-of-pocket expenses and employee time (at 150% of salary) associated with the
copying and movement of records and material to any successor person and
providing assistance to any successor person in the establishment of the
accounts and records necessary to carry out the successor's responsibilities.
SECTION 5. EFFECTIVENESS, DURATION, TERMINATION AND ASSIGNMENT
(a) This Agreement shall become effective with respect to each
Portfolio on December 1, 1997. Upon effectiveness of this Agreement, it shall
supersede all previous agreements between the parties hereto covering the
subject matter hereof insofar as such Agreement may have been deemed to relate
to the Portfolios.
(b) This Agreement shall continue in effect with respect to a Portfolio
until terminated; provided, that continuance is specifically approved at least
annually (i) by the Board or by a vote of a majority of the outstanding voting
securities of the Portfolio and (ii) by a vote of a majority of Trustees of the
Trust who are not parties to this Agreement or interested persons of any such
party (other than as Trustees of the Trust).
(c) This Agreement may be terminated with respect to a Portfolio at any
time, without the payment of any penalty (i) by the Board on 60 days' written
notice to Forum or (ii) by Forum on 60 days' written notice to the Trust. The
obligations of Sections 3 and 4 shall survive any termination of this Agreement.
(d) This Agreement and the rights and duties under this Agreement
otherwise shall not be assignable by either Forum or the Trust except by the
specific written consent of the other party. All terms and provisions of this
Agreement shall be binding upon, inure to the benefit of and be enforceable by
the respective successors and assigns of the parties hereto.
SECTION 6. ADDITIONAL PORTFOLIOS
In the event that the Trust establishes one or more series of Units
after the effectiveness of this Agreement, such series of Units shall become
Portfolios under this Agreement. Forum or the Trust may elect not to make any
such series subject to this Agreement.
SECTION 7. CONFIDENTIALITY. Forum agrees to treat all records and other
information related to the Trust as proprietary information of the Trust and, on
behalf of itself and its employees, to keep confidential all such information,
except that Forum may
(a) prepare or assist in the preparation of periodic reports to
interestholders and regulatory bodies such as the SEC;
(b) provide information typically supplied in the investment company
industry to companies that track or report price, performance or other
information regarding investment companies; and
(c) without limiting the generality of the Sections 7(a) and (b), the
Trust acknowledges that certain legal services may be provided to it by lawyers
who are employed by Forum or its affiliates and who render services to Forum and
its affiliates. A lawyer who provides such services to the Trust, and any lawyer
who supervises such lawyer, although employed generally by Forum or its
affiliates, will have a direct professional attorney/client relationship with
the Trust. Those services for which such a direct relationship will exist are
listed in Appendix C hereto. Provided (i) Forum agrees with any attorney
performing legal services for the Trust to not direct the professional judgment
of the attorney in performing those legal services and (ii) the attorney agrees
to disclose to the Chairman of the Audit Committee or to Trust counsel any
circumstance in which a legal service the attorney proposes to provide relates
to a matter in which the Trust and Forum have divergent legal or economic
interests, each of Forum and the Trust hereby consents to the simultaneous
representation by the attorney of both Forum and the Trust and waives any
general conflict of interest existing in such simultaneous representation, and
the Trust agrees that, in the event the attorney ceases to represent the Trust,
whether at the request of the Trust or otherwise, the attorney may continue
thereafter to represent Forum, and the Trust expressly consents to such
continued representation.
SECTION 8. FORCE MAJEURE
Forum shall not be responsible or liable for any failure or delay in
performance of its obligations under this Agreement arising out of or caused,
directly or indirectly, by circumstances beyond its reasonable control
including, without limitation, acts of civil or military authority, national
emergencies, labor difficulties, fire, mechanical breakdowns, flood or
catastrophe, acts of God, insurrection, war, riots or failure of the mails,
transportation, communication or power supply.
SECTION 9. ACTIVITIES OF FORUM
(a) Except to the extent necessary to perform Forum's obligations under
this Agreement, nothing herein shall be deemed to limit or restrict Forum's
right, or the right of any of Forum's managers, officers or employees who also
may be a trustee, officer or employee of the Trust, or persons who are otherwise
affiliated persons of the Trust to engage in any other business or to devote
time and attention to the management or other aspects of any other business,
whether of a similar or dissimilar nature, or to render services of any kind to
any other corporation, trust, firm, individual or association.
(b) Forum may subcontract any or all of its responsibilities pursuant
to this Agreement to one or more corporations, trusts, firms, individuals or
associations, which may be affiliated persons of Forum, who agree to comply with
the terms of this Agreement; provided, that any such subcontracting shall not
relieve Forum of its responsibilities hereunder. Forum may pay those persons for
their services, but no such payment will increase Forum's compensation from the
Trust.
(c) Without limiting the generality of the Sections 9(a) and (b), the
trust acknowledges that certain legal services may be rendered to it by lawyers
who are employed by Forum or its affiliates and who render services to Forum and
its affiliates. A lawyer who renders such services to the Trust, and any lawyer
who supervises such lawyer, although employed generally by Forum or its
affiliates, will have a direct professional attorney/client relationship with
the Trust. Those services for which such a direct relationship will exist are
listed in Appendix C hereto. Each of Forum and the Trust hereby consents to the
simultaneous representation by such lawyers of both Forum and the Trust, and
waives any conflict of interest existing in such simultaneous representation.
Furthermore, the Trust agrees that, in the event such lawyer ceases to represent
the Trust, whether at the request of the Trust or otherwise, the lawyer may
continue thereafter to represent Forum, and the Trust expressly consents to such
continued representation.
SECTION 10. COOPERATION WITH INDEPENDENT ACCOUNTANTS
Forum shall cooperate, if applicable, with each Portfolio's independent
public accountants and shall take reasonable action to make all necessary
information available to the accountants for the performance of the accountants'
duties.
SECTION 11. SERVICE DAYS
Nothing contained in this Agreement is intended to or shall require
Forum, in any capacity under this Agreement, to perform any functions or duties
on any day other than a business day of the Trust or of a Portfolio. Functions
or duties normally scheduled to be performed on any day which is not a business
day of the Trust or of a Portfolio shall be performed on, and as of, the next
business day, unless otherwise required by law.
SECTION 12. LIMITATION OF INTERESTHOLDER AND TRUSTEE LIABILITY
The trustees of the Trust and the interestholders of each Portfolio
shall not be liable for any obligations of the Trust or of the Portfolios under
this Agreement, and Forum agrees that, in asserting any rights or claims under
this Agreement, it shall look only to the assets and property of the Trust or
the Portfolio to which Forum's rights or claims relate in settlement of such
rights or claims, and not to the trustees of the Trust or the interestholders of
the Portfolios.
SECTION 13. MISCELLANEOUS
(a) Neither party to this Agreement shall be liable to the other party
for consequential damages under any provision of this Agreement.
(b) Except for Appendix A to add new Portfolios in accordance with
Section 6, no provisions of this Agreement may be amended or modified in any
manner except by a written agreement properly authorized and executed by both
parties hereto.
(c) This Agreement shall be governed by, and the provisions of this
Agreement shall be construed and interpreted under and in accordance with, the
laws of the State of Delaware.
(d) This Agreement constitutes the entire agreement between the parties
hereto and supersedes any prior agreement with respect to the subject matter
hereof, whether oral or written.
(e) This Agreement may be executed by the parties hereto on any number
of counterparts, and all of the counterparts taken together shall be deemed to
constitute one and the same instrument.
(f) If any part, term or provision of this Agreement is held to be
illegal, in conflict with any law or otherwise invalid, the remaining portion or
portions shall be considered severable and not be affected, and the rights and
obligations of the parties shall be construed and enforced as if the Agreement
did not contain the particular part, term or provision held to be illegal or
invalid.
(g) Section headings in this Agreement are included for convenience
only and are not to be used to construe or interpret this Agreement.
(h) Notices, requests, instructions and communications received by the
parties at their respective principal places of business, or at such other
address as a party may have designated in writing, shall be deemed to have been
properly given.
(i) Notwithstanding any other provision of this Agreement, the parties
agree that the assets and liabilities of each Portfolio of the Trust are
separate and distinct from the assets and liabilities of each other Portfolio
and that no Portfolio shall be liable or shall be charged for any
debt, obligation or liability of any other Portfolio, whether arising under this
Agreement or otherwise.
(j) No affiliated person, employee, agent, director, officer or manager
of Forum shall be liable at law or in equity for Forum's obligations under this
Agreement.
(k) Each of the undersigned warrants and represents that they have full
power and authority to sign this Agreement on behalf of the party indicated and
that their signature will bind the party indicated to the terms hereof and each
party hereto warrants and represents that this Agreement, when executed and
delivered, will constitute a legal, valid and binding obligation of the party,
enforceable against the party in accordance with its terms, subject to
bankruptcy, insolvency, reorganization, moratorium and other laws of general
application affecting the rights and remedies of creditors and secured parties.
(l) The terms "vote of a majority of the outstanding voting
securities," "interested person," and "affiliated person" shall have the
meanings ascribed thereto in the 1940 Act.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed in their names and on their behalf by and through their duly authorized
officers, as of the day and year first above written.
CORE TRUST (DELAWARE)
By:________________________
Xxxxx X. Xxxxxxxxx
Secretary
FORUM ADMINISTRATIVE SERVICES,
LIMITED LIABILITY COMPANY
By: Forum Advisors, Inc., as Manager
By:________________________
Xxxx X. Xxxxxx
President
CORE TRUST (DELAWARE)
ADMINISTRATION AGREEMENT
APPENDIX A
PORTFOLIOS OF THE TRUST
AS OF SEPTEMBER 22, 1997
International Portfolio
Index Portfolio
Small Company Stock Portfolio
Small Company Growth Portfolio
Small Company Value Portfolio
Large Company Portfolio
Income Equity Portfolio
Managed Fixed Income Portfolio
Total Return Bond Portfolio
Positive Return Bond Portfolio
Stable Income Portfolio
Prime Money Market Portfolio
Money Market Portfolio
Cash Portfolio
Government Cash Portfolio
Treasury Cash Portfolio
Treasury Portfolio
Municipal Cash Portfolio
CORE TRUST (DELAWARE)
ADMINISTRATION AGREEMENT
APPENDIX B
FEES
Fee as a % of the Annual Average
Portfolio Daily Net Assets of the Portfolio
--------- ---------------------------------
International Portfolio 0.15%
Index Portfolio 0.05%
Small Company Stock Portfolio 0.05%
Small Company Growth Portfolio 0.05%
Small Company Value Portfolio 0.05%
Large Company Portfolio 0.05%
Income Equity Portfolio 0.05%
Managed Fixed Income Portfolio 0.05%
Total Return Bond Portfolio 0.05%
Positive Return Bond Portfolio 0.05%
Stable Income Portfolio 0.05%
Prime Money Market Portfolio 0.05%
Money Market Portfolio 0.05%
Cash Portfolio 0.05%
Government Cash Portfolio 0.05%
Treasury Cash Portfolio 0.05%
Treasury Portfolio 0.05%
Municipal Cash Portfolio 0.05%
CORE TRUST (DELAWARE)
ADMINISTRATION AGREEMENT
APPENDIX C
LEGAL SERVICES
Advise the Trust on compliance with applicable U.S. laws and regulations
with respect to matters that are WITHIN the ordinary course of the Trust's
business.
Advise the Trust on compliance with applicable U.S. laws and regulations
with respect to matters that are OUTSIDE the ordinary course of the Trust's
business(*).
Liaison with the SEC.
Draft correspondences to SEC and respond to SEC comments.
Liaison with the Trust's outside counsel.
Provide attorney letters to the Trust's auditors.
Assist Trust outside counsel in the preparation of exemptive applications,
no-action letters, registration statements and proxy statements and related
material.
Prepare exemptive applications, no-action letters, registration statements
and proxy statements and related material, and draft correspondences to SEC
and respond to SEC comments with respect thereto(*).
Prepare registration statement supplements.
Prepare and/or review agendas and minutes for and respond to inquiries at
board and interestholder meetings regarding applicable U.S. laws and
regulations.
Prepare and/or review agreements between the Trust and any third parties.
Note: Items designated with an (*) are Special Legal Services.
