TWENTY-THIRD AMENDMENT TO ADMINISTRATIVE SERVICES AGREEMENT
Exhibit (h)(2)(xxiv)
TWENTY-THIRD AMENDMENT TO
ADMINISTRATIVE SERVICES AGREEMENT
This Amendment made as of July 1, 2014, by and between NGAM Advisors, L.P. (“NGAM Advisors”), Natixis Funds Trust I, Natixis Funds Trust II, Natixis Funds Trust IV, Xxxxxx Xxxxxx Funds I, Xxxxxx Xxxxxx Funds II, Gateway Trust and Xxxxxxxxxx International Series (collectively, the “Trusts”).
WHEREAS, NGAM Advisors and the Trusts are parties to an Administrative Services Agreement dated January 3, 2005, as amended November 1, 2005, January 1, 2006, July 1, 2007, September 17, 2007, February 1, 2008, February 19, 2008, July 1, 2008, September 29, 2008, October 31, 2008, January 9, 2009, July 27, 2009, February 25, 2010, July 1, 2010, September 21, 2010, December 14, 2010, July 1, 2011, September 16, 2011, March 28, 2012, June 29, 2012, November 16, 2012, September 26, 2013 and February 10, 2014, (together with the amendments, the “Agreement”), governing the terms and conditions under which Natixis Advisors provides certain administrative services to the series of the Trusts; and
WHEREAS, NGAM Advisors and the Trusts desire to amend Section 3(a) of the Agreement to implement a new breakpoint in the fee schedule; and
NOW THEREFORE, in consideration of the premises and covenants contained herein, NGAM Advisors and the Trusts hereby agree as follows:
| 1. | a. The fee schedule, which appears in Section 3 (a)(2) of the Agreement, is amended and restated as follows: |
| Average Daily Net Assets |
Annualized Fee Rate As a % of Average Daily Net Assets |
|||
| $0 - $ 15 billion | 0.0575 | % | ||
| Next $ 15 billion | 0.0500 | % | ||
| Next $ 30 billion | 0.0400 | % | ||
| Next $ 30 billion | 0.0350 | % | ||
| Over $ 90 billion | 0.0325 | % | ||
| 2. | Schedule A of the Agreement is deleted in its entirety and replaced with Schedule A attached hereto. |
| 3. | Except as specifically superseded or modified herein, the terms and provisions of the Agreement shall continue to apply with full force and effect. |
| 4. | This Amendment may be executed in one or more counter parts, each of which shall be deemed an original but all of which together will constitute one and the same instrument. |
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IN WITNESS WHEREOF, each of the parties has caused this instrument to be executed as a sealed instrument in its name and behalf by its duly authorized representative as of the date first above written.
NGAM ADVISORS, L.P.
By NGAM Distribution Corporation, its general partner
| By: | /s/ Xxxxx X. Xxxxxx | |
| Xxxxx X. Xxxxxx, President and Chief Executive Officer |
NATIXIS FUNDS TRUST I
NATIXIS FUNDS TRUST IV
XXXXXX XXXXXX FUNDS I
XXXXXX XXXXXX FUNDS II
GATEWAY TRUST
XXXXXXXXXX INTERNATIONAL SERIES
| By: | /s/ Xxxxxxx X. Xxxxxx | |
| Xxxxxxx X. Xxxxxx, Treasurer |
Schedule A
Trust Portfolios
As of: July 1, 2014
| Natixis Funds Trust I |
| CGM Advisor Targeted Equity Fund |
| Xxxxxx Xxxxxx Core Plus Bond Fund |
| Natixis Diversified Income Fund |
| Natixis Oakmark International Fund |
| Natixis U.S. Equity Opportunities Fund (formerly Natixis U.S. Multi-Cap Equity Fund) |
| Xxxxxxx Xxxxxx Small Cap Value Fund |
| ASG Diversifying Strategies Fund |
| ASG Global Alternatives Fund |
| ASG Managed Futures Strategy Fund |
| ASG Tactical U.S. Market Fund |
| Xxxxxx Xxxxxx Capital Income Fund |
| Xxxxxx Xxxxxx Emerging Markets Opportunities Fund |
| Xxxxxx Xxxxxx Senior Floating Rate and Fixed Income Fund |
| Xxxxxx Xxxxxx Strategic Alpha Fund |
| XxXxxxxxx Intermediate Municipal Bond Fund |
| Natixis Oakmark Fund (formerly Xxxxxx Associates Large Cap Value Fund) |
| Xxxxxxx Xxxxxx Select Fund |
| Xxxxxxx Xxxxxx Value Opportunity Fund |
| Natixis Funds Trust IV |
| AEW Real Estate Fund |
| Xxxxxx Xxxxxx Funds I |
| Xxxxxx Xxxxxx Bond Fund |
| Xxxxxx Xxxxxx Fixed Income Fund |
| Xxxxxx Xxxxxx Global Bond Fund |
| Xxxxxx Xxxxxx High Income Opportunities Fund |
| Xxxxxx Xxxxxx Inflation Protected Securities Fund |
| Xxxxxx Xxxxxx Institutional High Income Fund |
| Xxxxxx Xxxxxx Intermediate Duration Bond Fund |
| Xxxxxx Xxxxxx Investment Grade Fixed Income Fund |
| Xxxxxx Xxxxxx Securitized Asset Fund |
| Xxxxxx Xxxxxx Small Cap Value Fund |
| Xxxxxx Xxxxxx Funds II |
| Xxxxxx Xxxxxx Global Equity and Income Fund |
| Xxxxxx Xxxxxx Growth Fund |
| Xxxxxx Xxxxxx High Income Fund |
| Xxxxxx Xxxxxx International Bond Fund |
| Xxxxxx Xxxxxx Investment Grade Bond Fund |
| Xxxxxx Xxxxxx Limited Term Government and Agency Fund |
| Xxxxxx Xxxxxx Small Cap Growth Fund |
| Xxxxxx Xxxxxx Strategic Income Fund |
| Xxxxxx Xxxxxx Value Fund |
| Xxxxxxxxxx International Series |
| Xxxxxxxxxx International Growth Fund |
| Gateway Trust |
| Gateway Fund |
| Gateway International Fund |
