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Exhibit (9)(q)
SERVICE AGENCY AGREEMENT
THIS AGREEMENT is made and entered into this 1st day of September,
1993, between Sierra Fund Administration Corporation ("Sierra Administration"),
a California corporation, and The Shareholder Services Group, Inc. ("TSSG",
the "Service Agent"), a Massachusetts corporation.
WHEREAS, Sierra Administration is presently engaged in the business of
providing transfer agent and registrar services to various funds affiliated
with Sierra Trust Funds ("Sierra Funds"); and,
WHEREAS, Sierra Administration desires to appoint the Service Agent as
its agent, and the Service Agent desires to become Sierra Administration's
agent to provide certain services in connection with Sierra Administration's
transfer agency and registrar services to the Sierra Funds.
NOW THEREFORE, in consideration of the foregoing and the respective
representations, warranties, covenants, agreements and conditions hereinafter
set forth, and intending to be legally bound hereby, Sierra Administration and
the Service Agent hereby agree as follows:
1. Appointment of the Service Agent. In exchange for good and
valuable consideration, Sierra Administration hereby appoints the Service Agent
to perform certain services as herein set forth and the Service Agent accepts
such appointment and agrees to perform the services herein set forth in
Schedule A. Sierra Administration shall pay the Service Agent the fees set
forth in Schedule B.
2. Duties of the Service Agent. The Service Agent shall be
responsible for acting as service agent in connection with dividend and
distribution functions; and for performing shareholder account and
administrative agent functions for the Sierra Funds. The operating standards
and procedures to be followed shall be determined from time to time by
agreement between Sierra Administration and the Service Agent and shall
initially be as described in Schedule A attached hereto.
3. Duties of TSSG.
(a) TSSG agrees to provide to Sierra Administration
remote terminal access through dedicated transmission lines to its computerized
data processing record keeping system for Fund shareholder accounting (the
"TSSG System") installed on TSSG computer hardware and using TSSG software
("TSSG Facilities") to provide and support remote terminal access to the TSSG
System and the TSSG Facilities for the maintenance of shareholder records,
processing of information and generation of information with respect thereto.
(b) TSSG agrees to provide to Sierra Administration at
its facilities located at 0000 Xxxxxx Xxxxxx, Xxxxxxxxxx, Xxxxxxxxxx or at such
other location as may be mutually agreed upon in writing by Sierra
Administration and the Service Agent (the "Facility") remote access to
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the use of information processing capabilities of the TSSG System as it may be
modified from time to time mutually agreed upon by TSSG and Sierra
Administration in accordance to Section 4.
(c) TSSG agrees to prepare and telefax to Sierra
Administration, on a daily basis, a daily cash and share proof reconciliation
balance sheet.
(d) As instructed by Sierra Administration, TSSG agrees
to process share dividend and distributions on the TSSG System.
(e) TSSG agrees to (1) automatically process without
request from Sierra Administration, print and mail daily shareholder account
confirmation statements, (2) monthly shareholder and dealer statements (3)
monitor and maintain sufficient inventory and postage required for the mailing
of shareholder monthly statements by third party vendors.
(f) TSSG agrees to apply backup withholding on
shareholder accounts and to provide reports to Sierra Fund shareholders and to
the Internal Revenue Service, as specified by the Internal Revenue Code. TSSG
will process all tax forms as required by the IRS.
(g) TSSG further agrees to perform the duties set forth
in Schedule A and such additional duties as agreed upon between TSSG and Sierra
Administration, except in cases of unavailability of communications, utilities
facilities or other equipment failures, due to Acts of God, acts of the public
enemy, governmentally-mandated priorities in allocating its services, fires,
floods, strikes, riots or war or other causes beyond its control.
4. Charges and Modifications.
(a) During the term of this Agreement, TSSG will make
available to Sierra Administration, all modifications and improvements to the
TSSG System made in the ordinary course of business. In addition, TSSG will
use its best efforts to make reasonable changes to the TSSG System requested by
Sierra Administration, subject to payment of additional fees as mutually agreed
upon.
(b) TSSG shall have the right, at any time, and from time
to time, to alter and modify any systems, programs, procedures, or facilities
used or employed in performing its duties and obligations hereunder (a "System
Modification"), provided that no System Modification shall, without the consent
of Sierra Administration, materially adversely change or affect the operations
and procedures of Sierra Administration in using or employing the TSSG System
or the TSSG Facilities hereunder. If TSSG and Sierra Administration agree that
the effect was material on Sierra Administration's operations, TSSG agrees to
reimburse for direct expenses incurred by Sierra Administration. TSSG will
notify Sierra Administration at least two weeks prior to implementing any
System Modification.
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(c) TSSG agrees to make any System Modifications
necessary to meet federal, state, or local government or self-regulatory
organizations requirements in a timely fashion. TSSG agrees to advise Sierra
Administration upon notification of any changes in or receipt of any
information or advice concerning any change in the requirements of any federal,
state, or local or self-regulatory organization which might require such system
modification.
5. System Access and Training.
(a) TSSG shall provide Sierra Funds on-line access
between the hours of 6:00 a.m. and 6:00 p.m. PST Monday through Friday except
for such holidays as are observed by the New York Stock Exchange, and between
the hours of 6:00 a.m. and 3:00 p.m. PST on Saturdays. Additional access to
the TSSG System may be arranged by separate agreement of the parties.
(b) TSSG will provide training documentation of the TSSG
System. TSSG will provide trainers to Sierra Administration at either the
Sierra Administration or TSSG facility. If the training is a requirement of
system enhancements requested by Sierra Administration, the travel and out of
pocket expenses will be borne by Sierra Administration. In the event the
system changes are not a result of a request from Sierra Administration, TSSG
will provide trainers at no expense (including out of pocket) to Sierra
Administration.
6. Indemnification. TSSG shall not be responsible for and Sierra
Administration shall indemnify and hold TSSG harmless from and against any and
all claims, costs, expenses (including reasonable attorneys' fees), losses,
damages, charges, payments and liabilities of any sort or kind which may be
asserted against TSSG or for which TSSG may be held to be liable (a "Claim")
arising out of or attributable to any of the following:
(a) Any actions of TSSG required to be taken pursuant to
this Agreement unless such Claim resulted from a negligent act or omission to
act or bad faith by TSSG in the performance of its duties hereunder.
(b) Sierra Administration's failure to use and employ the
TSSG System and the TSSG Facilities in accordance with the procedures set forth
in any user manuals delivered to Sierra Administration, Sierra Administration
failure to utilize the control procedures set forth and described in the user
manual, or Sierra Administration's failure to verify in reasonable time reports
or output received through use of the TSSG System and the TSSG Facilities.
(c) Sierra Administration's other errors and mistakes in
the use of the TSSG System, TSSG Facilities and control procedures.
(d) TSSG's reasonable reliance on, or reasonable use of
information, data, records and documents received by TSSG from Sierra
Administration in the performance of TSSG's duties and obligations hereunder.
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(e) TSSG's reliance on, or the implementation of, any
instruction or requests of Sierra Administration.
(f) The offer or sales of shares in violation of any
requirement under the securities laws or regulations of any state that such
shares be registered in such state or in violation of any stop order or other
determination or ruling by any state with respect to the offer or sale of such
shares in such state.
(g) Sierra Administration's refusal or failure to comply
with the terms of this Agreement, or any Claim which arises out of Sierra
Administration's negligence or misconduct or the breach of any representation
or warranty of Sierra Administration made herein.
7. Term and Termination.
(a) Unless otherwise agreed to by Sierra Administration
and TSSG, this Agreement shall become effective on the date first set forth
above and shall continue in effect for an initial period of three years.
Thereafter, unless notice is received at least 60 days prior to the anniversary
date of the date first above written, this Agreement shall automatically
continue in effect from year to year with such modifications or amendments as
may be mutually agreed upon in writing by the parties.
(b) If a party hereto is guilty of a material failure to
perform its duties and obligations hereunder (a "Defaulting Party") the other
party (the "Non Defaulting Party") may give written notice thereof to the
Defaulting Party, and if such material breach shall not have been remedied
within thirty (30) days after such written notice is given, the Non-Defaulting
Party may terminate this Agreement by giving thirty (30) days written notice of
such termination to the Defaulting Party. If TSSG is the Non-Defaulting Party,
its termination of this Agreement shall not constitute a waiver of any other
rights or remedies of TSSG with respect to services performed prior to such
termination or rights of TSSG to be reimbursed for out-of-pocket expenses. In
all cases, termination by the Non-Defaulting Party shall not constitute a
waiver by the Non-Defaulting Party of any other rights it might have under this
Agreement or otherwise against the Defaulting Party.
8. Amendment. This Agreement may only be amended or modified by
written agreement executed by both parties.
9. Subcontracting. TSSG may subcontract to agents the services
required to be performed pursuant to this Agreement and the Schedules hereon,
if any. The appointment of any such agent shall not relieve TSSG of its
responsibility hereunder.
10. Use of TSSG's Name. Sierra Administration shall not use
TSSG's name in any material without TSSG's prior written approval unless such
use is required by law or merely refers in accurate terms to the services
rendered hereunder. Any reference to TSSG shall include a
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statement to the effect that it is a subsidiary of First Data Corporation.
11. Use of Sierra Administration's Name. Except as provided
herein, TSSG shall not use the name of Sierra Administration without Sierra
Administration's prior written approval unless such is required by law or
merely refers in accurate terms to the services rendered hereunder.
12. Use of Sierra Trust Fund's Name. Except as provided herein,
TSSG shall not use the name of Sierra Trust Funds without Sierra
Administration's prior written approval unless such is required by law or
merely refers in accurate terms to the services rendered hereunder.
13. Security.
(a) TSSG will provide Sierra Administration with a User
Identifier (also know as "User I.D.") and a User Password to the TSSG System.
TSSG will also assign the initial Operator Password to each of the employees
who are authorized to access the TSSG System. The Operator Passwords may be
changed at any time in the discretion of Sierra Administration without any
notice to or knowledge of TSSG by using procedures set forth by TSSG.
(b) Sierra Administration agrees that it is responsible
for selection, use and protection of the confidentiality of passwords; however,
TSSG may for security reasons at any time and from time to time, upon seven
days written notice to Sierra Administration (or immediately upon notice by
telephone, confirmed in writing, in the event of any emergency), deny access to
the TSSG System until one or more User I.D.'s is changed by Sierra
Administration.
(c) Sierra Administration acknowledges that TSSG has
proprietary rights in and to the TSSG System and any other TSSG programs, data
bases, supporting documentation or procedures ("TSSG Protected Information") of
which Sierra Administration or its employees or agents become aware as a result
of Sierra Administration's access to the TSSG System or TSSG Facilities and
that the TSSG Protected Information constitutes confidential material and trade
secrets of TSSG. Sierra Administration agrees to maintain the confidentiality
of the TSSG Protected Information. Sierra Administration acknowledges that any
unauthorized use, misuse, disclosure, or taking of TSSG Protected Information
which is confidential or which is a trade secret, whether residing or existing
internally or externally to a computer, computer system or computer network, or
the knowing and unauthorized accessing or causing to be accessed of any
computer, computer system or computer network, may be subject to civil
liabilities and criminal penalties under applicable law. Sierra Administration
will advise all of its employees and agents who have access to any TSSG
Protected Information or to any computer equipment capable of accessing TSSG
Facilities of the foregoing.
14. Miscellaneous.
(a) Notices. Any notice or other instrument authorized
or required by this
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Agreement to be given in writing to Sierra Administration or TSSG shall be
sufficiently given if addressed to that party and received by it at its office
set forth below or at such other place as it may from time to time designate in
writing.
To Sierra Administration:
Sierra Fund Administration Corporation
0000 Xxxxxx Xxxxxx
Xxxxxxxxxx, XX 00000
To TSSG:
The Shareholder Services Group, Inc.
Attention: Xxxxxx X. Xxxxx, President
with a copy to:
Attention: Counsel
Xxx Xxxxxxxx Xxxxx
Xxxxxx, XX 00000
(b) Successors. This Agreement shall extend to and shall
be binding upon the parties hereto, and their respective successors upon the
parties hereto, and their respective successors and assignees; provided,
however, that this Agreement may not be assigned without the written consent of
the other party.
(c) Governing Law. This Agreement shall be governed by
the laws of the state of Massachusetts without reference to the choice of the
law provisions thereof. Each party hereto agrees that the Supreme Court of
Massachusetts sitting in Massachusetts shall have exclusive jurisdiction over
any and all disputes arising hereunder; (ii) hereby consents to the personal
jurisdiction of such court over the parties hereto, hereby waiving any defense
of lack of personal jurisdiction; and (iii) appoints the person to whom notices
hereunder are to be sent as agent for service of process.
(d) Severability. If any term, provision, covenant or
restriction of this Agreement is held by a court of competent jurisdiction to
be invalid, void or unenforceable, the remainder of the terms, provisions,
covenants and restrictions of this Agreement shall remain in full force and
effect and shall in no way be affected, impaired or invalidated.
(e) Counterparts. This Agreement may be executed in any
number of counterparts, each of which shall be deemed to be an original, but
all of which together will constitute only one instrument.
(f) Captions. The captions of this Agreement are
included for convenience of
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reference only and in no way define or limit any of the provisions hereof or
otherwise affect their construction or effect.
(g) Sole Agreement. This Agreement constitutes the
entire agreement between the parties hereto and supersedes any prior agreement
with respect to the subject matter hereof.
(h) Specific Performance. Each of the parties hereto
agrees that the other party would be irreparably damaged by breaches of this
Agreement relating to confidential or proprietary information and accordingly
each agrees that each of them is entitled, without bond or other security, to
an injunction or injunctions to prevent breaches of the provisions of this
Agreement relating to such information.
IN WITNESS WHEREOF, the parties hereto have caused this
Agreement to be executed by their fully authorized offices as of the day and
year first above written.
SIERRA FUND ADMINISTRATION CORPORATION
BY: /s/ XXXXX X. XXXXX
-------------------------------------
TITLE: Chief Financial Officer
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THE SHAREHOLDER SERVICES GROUP, INC.
BY: /s/ XXXX X. XXXXXX
-------------------------------------
TITLE: Executive Vice President &
Chief Operations Officer
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Schedule A
Duties of TSSG
TSSG will provide Sierra Administration its transfer agent system
(RTA) to process shareholder activity. The costs associated with the provision
of the system will be billed on a per account basis. TSSG is planning a system
conversion in November, 1993.
TSSG will perform the Control, Administrative and Tax Reporting
functions detailed below. Sierra Administration will continue to address all
customer service and transaction processing responsibilities. The costs
associated with the delivery of the control, tax reporting and administration
components will be charged on an annual lump sum basis, allocated monthly.
Control
- Preparation and review of supersheets
- Daily fund balancing at placement and settlement
- Reconciliation of all demand deposit accounts
- Dividend and capital gain processing
- Establish new funds based on client instructions
Client Administration
- Printing and mailing of daily shareholder confirmations
- Production of monthly statements containing shareholder
information
- Maintenance of inventory and postage for statement mailings
Tax Reporting
- Make payments to IRS on behalf of funds
- Printing and mailing of all tax forms in compliance with IRS
- Compliance mailings (B-notice and TIN solicitation)
A. DAILY RECORDS
Retain daily the following information received by TSSG from Sierra
Administration, with respect to each shareholder account as received:
- Name and Address (Zip Code)
- State of Residence Code
- Balance of Shares held by Agent
- Social owner code; i.e., female, joint tenant, etc.
- Dividend code (reinvestment)
- Number of Shares held in certificate form
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B. REPORTS PROVIDED TO SIERRA ADMINISTRATION
Furnish the following reports to Sierra Administration:
- Weekly analysis of accounts by account type
- Daily financial totals
- Weekly reports of outstanding shares
- Weekly analysis of accounts by social code
- Weekly analysis of accounts by share range
- Weekly analysis of sales by state
- Weekly analysis of accounts by dealer code
- Weekly top 10 shareholder report
C. DIVIDEND ACTIVITY
- Calculate and process share dividends and distributions as
instructed by Sierra Administration.
- Compute and prepare all necessary reports to shareholders or
various authorities as requested by Sierra Administration.
D. MEETINGS OF SHAREHOLDERS
- Cause to be mailed proxy and related material for all meetings
of shareholders. Tabulate returned proxies (proxies must be
adaptable to mechanical equipment of the Agent or its agents)
and supply daily reports when sufficient proxies have been
received.
- Prepare and submit to Sierra Administration an Affidavit of
Mailing.
- At the time of the meeting, furnish a certified list of
shareholders, hard copy, microfilm or microfiche and, if
requested by Sierra Administration, Inspection of Election.
E. CLIENT MAILINGS
- Cause to be mailed reports, prospectuses, daily confirmations,
monthly statements and any other enclosures requested by
Sierra Administration (material must be adaptable to
mechanical equipment of Agent or its agents).
F. SYSTEMS
- Systems support is provided at the costs outlined above and
includes:
- access to the TSSG recordkeeping system (RTA) until
the FSR conversion
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is completed in November,
- processing of share dividends and distributions on the TSSG
system for the funds,
- production support and maintenance.
Phases of Analysis
1. First Right of Refusal: TSSG will be given the first
opportunity to meet your technological requirements;
2. Negotiation of a Price Change: A price change for either party
may be warranted depending on the requirements; and,
3. TSSG will work with a 3rd Party: In the event TSSG cannot
accommodate Sierra Administration's requirements, TSSG will
have the right to work with a 3rd party to integrate external
functionality into the development process.
G. PERFORMANCE STANDARDS
1. SCOPE
The Service Agent agrees to meet or exceed the processing
standards set forth in this schedule by January 1, 1994, for
those items received by the Service Agent in the proper
condition, form and order to permit the Service Agent to
process the item within the requirements of this Agreement.
Sierra Administration agrees to waive the standards for the 30
days following each system conversion for Sierra
Administration by the Service Agent, or as otherwise agreed to
by Sierra Administration and the Service Agent.
The Service Agent shall track the processing of items on a
calendar month basis and shall report to Sierra Administration
the percentage of the total number of items received and the
percentage of items that were processed within the specified
Turnaround period.
The Service Agent shall also track the number of Fund
shareholders who contact the Service Agent to complain that
their transactions were not processed correctly. The Service
Agent shall report to Sierra Administration, on a monthly
basis, the total number of transactions and the total number
of shareholder complaints received by the Service Agent from
Fund shareholders, which arose solely from processing errors
by the Service Agent.
With respect to these turnaround and error standards, the
Service Agent shall be responsible for its own conduct only
and shall not be held responsible for delays and other
problems arising from the actions or omissions of Sierra
Administration,
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other agents of Sierra Administration or third parties not
affiliated with the Service Agent. In addition, Sierra
Administration agrees that these performance standards shall
be waived for any calendar month in which the number of Fund
items received by the Service Agent for processing exceeds by
more than 20% the average monthly number of items received by
the Service Agent during the six month period prior to that
calendar month.
2. PENALTIES
If performance standards are not met for any type of transaction for a
given monthly period, the Service Agent shall report to Sierra
Administration the reason for the deficiency and the corrective action
being taken by the Service Agent.
If the Service Agent has failed to meet a specific performance
standard, and such failure continues in the same category in each of
the two consecutive calendar months after the Service Agent receives
notice of such failure, then Sierra Administration may reduce the
total amount of Fees due under this Agreement by Sierra Administration
and the funds affiliated with the Fund, by an amount equal to 5% of
the fees for each succeeding, consecutive month in which the same
standard is not met. This 5% penalty is the total penalty that shall
be applied to all failures to meet these standards in the aggregate.
Sierra Administration may terminate this Agreement if either: (i)
one-third or more of the performance standards listed in this
Agreement are not met by the Service Agent for four consecutive
months, or (ii) any one performance standard is not met by the Service
Agent for any six months during a 12 month period. Unless Sierra
Administration provides the Service Agent with notice of Sierra
Administration's intent to exercise this option within 45 days of the
occurrence, Sierra Administration shall have waived its option to
terminate under this provision.
3. QUALITY STANDARDS
The success of a long term contract is dependent on the commitment of
TSSG to meet specific quality standards agreed to by both parties. Our
contract will include specific recourse for Sierra Administration to
terminate should we fail to meet the agreed upon standards.
The proposed quality standards are:
I. Systems
A. System Availability
1. 9:00 a.m.-9:00 p.m. EST Monday-Friday 98%
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2. 9:00 a.m.-6:00 p.m. EST Saturday 98%
B. Transmission Timeliness
1. Confirm File to Sierra Administration: 1:30 a.m. EST 98%
2. Position File to Sierra Administration: 4:00 a.m. EST 98%
3. Average Response Time of 5-seconds or less 95%
II. Administration
1. Confirm Mailings: Trade Date + 2 98%
2. Statement Mailings: Trade Date + 5 98%
3. Dividend Checks Mailed: Trade Date + 1 98%
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Schedule B
Fees and Expenses
A. ACCOUNT FEES
The schedule below pertains to all open and closed accounts on TSSG's
system:
ACCOUNTS PER ACCOUNT FEE
-------- ---------------
1-180,000 $4.50
180,001-250,000 $4.25
250,001-350,000 $4.15
350,001-700,000 $4.05
B. SYSTEMS AGENDA
TSSG and Sierra Administration will agree upon a systems development
plan for 1993/1994. Upon completion and approval of the plan, TSSG
will determine the staffing requirements to complete the projects to
be paid for by Sierra Administration at the discounted rate of $75.00
per hour. Any additional requests for resources beyond the agreed
upon agenda will be charged at $95.00 per hour.
C. LUMP SUM CHARGE
An annual lump sum charge of $250,000 will be applied to Sierra
Administration for TSSG's delivery of Control, Client Administration
Services and Tax Reporting. The expense will be paid on a monthly
basis over a twelve-month period for a monthly charge of $20,833.33.
(This assumes an account base over 150,000 accounts). This charge
will increase by $25,000 with the addition of each 50,000 accounts
thereafter. This Fee Schedule will be effective January 1, 1994.
From September through December 1993, the Lump Sum will be calculated
as follows:
An annual lump sum charge of $200,000 will be applied to Sierra
Administration on a monthly basis. Once an account base of 100,000 is
reached, an additional charge of $50,000 will be imposed. This
additional charge will offset the increase in direct expenses, such as
personnel, that will be needed to accommodate the expected increase in
volume. With the addition of each 50,000 accounts thereafter, an
additional $25,000 will be added to the lump sum charge.
D. VARIABLE ANNUITY PRODUCT
TSSG will establish six new funds on the transfer agent system, set a
daily price and process dividends and distribution for these funds. A
charge of $1,000 per month will be paid by Sierra Administration for
these services. Any additional variable annuity funds will be
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charged a per fund minimum of $500.00 per month.
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E. COST BASIS ACCOUNTING
Per Account Fee: $0.15 per CBA eligible account per month.
This charge includes DASD, CPU, and ongoing maintenance of the system.
This price reflects an assumption that the client would retain
responsibility for responding to shareholder inquiries.
F. CONSUMER PRICE INDEX FEE INCREASE
In addition, on the first anniversary date of this Agreement after the
expiration of the initial term and each subsequent anniversary date,
the per account fee shall be increased by a percentage amount equal to
one percent more than the percentage increase in the then current
Consumer Price Index (all urban consumers) or its successor index.
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OUT OF POCKET EXPENSES
Sierra Funds shall reimburse the Service Agent via Sierra
Administration monthly for applicable out-of-pocket expenses, including, but
not limited to the following:
- Microfiche/microfilm production
- Magnetic media tapes and freight
- Printing costs, including certificates, envelopes, checks
stationary, confirms and statements.
- Postage and mailing services including (pre-sort, zip + 4,
barcoding, first class, etc.).
- Due diligence mailings
- Telephone and telecommunication costs, including all lease,
maintenance and line costs
- Ad hoc reports (fee proposal is forthcoming)
- Proxy solicitations, mailings and tabulations
- Daily and Distribution advise mailings
- Shipping, Certified and Overnight mail and insurance
- Year-end form production and mailings
- Terminals, communication lines, printers and other equipment
and any expenses incurred in connection with such terminals
and lines
- Duplicating services
- Courier services
- Incoming and outgoing wire charges
- Federal Reserve charges for check clearance
- Overtime, as approved by the Sierra Funds
- Temporary staff, as approved by the Sierra Funds
- Record retention, retrieval and destruction costs, including,
but not limited to, exit fees charged by third party record
keeping vendors
- Conversion costs as negotiated between TSSG and Sierra
Administration
- Such other miscellaneous expenses reasonably incurred by the
Service Agent in performing its duties and responsibilities
under this Agreement.
Sierra Administration agrees that postage and mailing expenses will be
paid on the day of or prior to mailing as agreed with the Service Agent. In
addition, Sierra Administration will promptly reimburse the Service Agent for
any other unscheduled expenses incurred by the Service Agent whenever Sierra
Administration and the Service Agent mutually agree that such expenses are not
otherwise properly borne by the Service Agent as part of its duties and
obligations under Agreement. Sierra Funds reimburses the Service Agent xxx
Xxxxxx Xxxxxxxxxxxxxx.
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