SERVICES AGREEMENT
AGREEMENT made as of the 17th day of April, 1995 by and between Xxxx
Xxxxxx InterCapital Inc., a Delaware corporation (herein referred to as
"InterCapital"), and Xxxx Xxxxxx Services Company Inc., a Delaware
corporation (herein referred to as "DWS").
WHEREAS, InterCapital has entered into separate agreements (each such
agreement being herein referred to as an "Investment Management Agreement")
with certain investment companies as set forth on Schedule A (each such
investment company being herein referred to as a "Fund" and, collectively, as
the "Funds") pursuant to which InterCapital is to perform, or supervise the
performance of, among other services, administrative services for the Funds
(and, in the case of Funds with multiple portfolios, the Series or Portfolios
of the Funds (such Series and Portfolio being herein individually referred to
as "a Series" and, collectively, as "the Series"));
WHEREAS, InterCapital desires to retain DWS to perform the administrative
services as described below; and
WHEREAS, DWS desires to be retained by InterCapital to perform such
administrative services:
Now, therefore, in consideration of the mutual covenants and agreements of
the parties hereto as herein set forth, the parties covenant and agree as
follows:
1. DWS agrees to provide administrative services to each Fund as
hereinafter set forth. Without limiting the generality of the foregoing, DWS
shall (i) administer the Fund's business affairs and supervise the overall
day-to-day operations of the Fund (other than rendering investment advice);
(ii) provide the Fund with full administrative services, including the
maintenance of certain books and records, such as journals, ledger accounts
and other records required under the Investment Company Act of 1940, as
amended (the "Act"), the notification to the Fund and InterCapital of
available funds for investment, the reconciliation of account information and
balances among the Fund's custodian, transfer agent and dividend disbursing
agent and InterCapital, and the calculation of the net asset value of the
Fund's shares; (iii) provide the Fund with the services of persons competent
to perform such supervisory, administrative and clerical functions as are
necessary to provide effective operation of the Fund; (iv) oversee the
performance of administrative and professional services rendered to the Fund
by others, including its custodian, transfer agent and dividend disbursing
agent, as well as accounting, auditing and other services; (v) provide the
Fund with adequate general office space and facilities; (vi) assist in the
preparation and the printing of the periodic updating of the Fund's
registration statement and prospectus (and, in the case of an open-end Fund,
the statement of additional information), tax returns, proxy statements, and
reports to its shareholders and the Securities and Exchange Commission; and
(vii) monitor the compliance of the Fund's investment policies and
restrictions.
In the event that InterCapital enters into an Investment Management
Agreement with another investment company, and wishes to retain DWS to
perform administrative services hereunder, it shall notify DWS in writing. If
DWS is willing to render such services, it shall notify InterCapital in
writing, whereupon such other Fund shall become a Fund as defined herein.
2. DWS shall, at its own expense, maintain such staff and employ or retain
such personnel and consult with such other persons as it shall from time to
time determine to be necessary or useful to the performance of its
obligations under this Agreement. Without limiting the generality of the
foregoing, the staff and personnel of DWS shall be deemed to include officers
of DWS and persons employed or otherwise retained by DWS (including officers
and employees of InterCapital, with the consent of InterCapital) to furnish
services, statistical and other factual data, information with respect to
technical and scientific developments, and such other information, advice and
assistance as DWS may desire. DWS shall maintain each Fund's records and
books of account (other than those maintained by the Fund's transfer agent,
registrar, custodian and other agencies). All such books and records so
maintained shall be the property of the Fund and, upon request therefor, DWS
shall surrender to InterCapital or to the Fund such of the books and records
so requested.
3. InterCapital will, from time to time, furnish or otherwise make
available to DWS such financial reports, proxy statements and other
information relating to the business and affairs of the Fund as DWS may
reasonably require in order to discharge its duties and obligations to the
Fund under this Agreement or to comply with any applicable law and regulation
or request of the Board of Directors/Trustees of the Fund.
1
4. For the services to be rendered, the facilities furnished, and the
expenses assumed by DWS, InterCapital shall pay to DWS monthly compensation
calculated daily (in the case of an open-end Fund) or weekly (in the case of
a closed-end Fund) by applying the annual rate or rates set forth on Schedule
B to the net assets of each Fund. Except as hereinafter set forth, (i) in the
case of an open-end Fund, compensation under this Agreement shall be
calculated by applying 1/365th of the annual rate or rates to the Fund's or
the Series' daily net assets determined as of the close of business on that
day or the last previous business day and (ii) in the case of a closed-end
Fund, compensation under this Agreement shall be calculated by applying the
annual rate or rates to the Fund's average weekly net assets determined as of
the close of the last business day of each week. If this Agreement becomes
effective subsequent to the first day of a month or shall terminate before
the last day of a month, compensation for that part of the month this
Agreement is in effect shall be prorated in a manner consistent with the
calculation of the fees as set forth on Schedule B. Subject to the provisions
of paragraph 5 hereof, payment of DWS' compensation for the preceding month
shall be made as promptly as possible after completion of the computations
contemplated by paragraph 5 hereof.
5. In the event the operating expenses of any open-end Fund and/or any
Series thereof, or of InterCapital Income Securities Inc., including amounts
payable to InterCapital pursuant to the Investment Management Agreement, for
any fiscal year ending on a date on which this Agreement is in effect, exceed
the expense limitations applicable to the Fund and/or any Series thereof
imposed by state securities laws or regulations thereunder, as such
limitations may be raised or lowered from time to time, or, in the case of
InterCapital Income Securities Inc. or Xxxx Xxxxxx Variable Investment Series
or any Series thereof, the expense limitation specified in the Fund's
Investment Management Agreement, the fee payable hereunder shall be reduced
on a pro rata basis in the same proportion as the fee payable by the Fund
under the Investment Management Agreement is reduced.
6. DWS shall bear the cost of rendering the administrative services to be
performed by it under this Agreement, and shall, at its own expense, pay the
compensation of the officers and employees, if any, of the Fund employed by
DWS, and such clerical help and bookkeeping services as DWS shall reasonably
require in performing its duties hereunder.
7. DWS will use its best efforts in the performance of administrative
activitives on behalf of each Fund, but in the absence of willful
misfeasance, bad faith, gross negligence or reckless disregard of its
obligations hereunder, DWS shall not be liable to the Fund or any of its
investors for any error of judgment or mistake of law or for any act or
omission by DWS or for any losses sustained by the Fund or its investors. It
is understood that, subject to the terms and conditions of the Investment
Management Agreement between each Fund and InterCapital, InterCapital shall
retain ultimate responsibility for all services to be performed hereunder by
DWS. DWS shall indemnify InterCapital and hold it harmless from any liability
that InterCapital may incur arising out of any act or failure to act by DWS
in carrying out its responsibilities hereunder.
8. It is understood that any of the shareholders, Directors/Trustees,
officers and employees of the Fund may be a shareholder, director, officer or
employee of, or be otherwise interested in, DWS, and in any person
controlling, controlled by or under common control with DWS, and that DWS and
any person controlling, controlled by or under common control with DWS may
have an interest in the Fund. It is also understood that DWS and any
affiliated persons thereof or any persons controlling, controlled by or under
common control with DWS have and may have advisory, management,
administration service or other contracts with other organizations and
persons, and may have other interests and businesses, and further may
purchase, sell or trade any securities or commodities for their own accounts
or for the account of others for whom they may be acting.
9. This Agreement shall continue until April 30, 1995, and thereafter
shall continue automatically for successive periods of one year unless
terminated by either party by written notice delivered to the other party
within 30 days of the expiration of the then-existing period. Notwithstanding
the foregoing, this Agreement may be terminated at any time, by either party
on 30 days' written notice delivered to the other party. In the event that
the Investment Management Agreement between any Fund and InterCapital is
terminated, this Agreement will automatically terminate with respect to such
Fund.
10. This Agreement may be amended or modified by the parties in any manner
by written agreement executed by each of the parties hereto.
2
11. This Agreement may be assigned by either party with the written
consent of the other party.
12. This Agreement shall be construed and interpreted in accordance with
the laws of the State of New York.
IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Agreement as of the day and year first above written in New York, New York.
XXXX XXXXXX INTERCAPITAL INC.
By: /s/ Xxxxxxx Xxxxxx
-------------------------
Attest:
/s/ Xxx Xxxx XxXxxxx
----------------------------
XXXX XXXXXX SERVICES COMPANY INC.
By: /s/ Xxxxxxx X. Xxxxxxxxxxx
-------------------------
Attest:
/s/ Xxxxx Xxxx
----------------------------
3
SCHEDULE A
XXXX XXXXXX FUNDS
AT APRIL 17, 1995
OPEN-END FUNDS
1. Active Assets California Tax-Free Trust
2. Active Assets Government Securities Trust
3. Active Assets Money Trust
4. Active Assets Tax-Free Trust
5. Xxxx Xxxxxx American Value Fund
6. Xxxx Xxxxxx Balanced Growth Fund
7. Xxxx Xxxxxx Balanced Income Fund
8. Xxxx Xxxxxx California Tax-Free Daily Income Trust
9. Xxxx Xxxxxx California Tax-Free Income Fund
10. Xxxx Xxxxxx Capital Growth Securities
11. Xxxx Xxxxxx Convertible Securities Trust
12. Xxxx Xxxxxx Developing Growth Securities Trust
13. Xxxx Xxxxxx Diversified Income Trust
14. Xxxx Xxxxxx Dividend Growth Securities Inc.
15. Xxxx Xxxxxx European Growth Fund Inc.
16. Xxxx Xxxxxx Federal Securities Trust
17. Xxxx Xxxxxx Global Asset Allocation Fund
18. Xxxx Xxxxxx Global Dividend Growth Securities
19. Xxxx Xxxxxx Global Short-Term Income Fund Inc.
20. Xxxx Xxxxxx Global Utilities Fund
21. Xxxx Xxxxxx Health Sciences Trust
22. Xxxx Xxxxxx High Income Securities
23. Xxxx Xxxxxx High Yield Securities Inc.
24. Xxxx Xxxxxx Intermediate Income Securities
25. Xxxx Xxxxxx International Small Cap Fund
26. Xxxx Xxxxxx Limited Term Municipal Trust
27. Xxxx Xxxxxx Liquid Asset Fund Inc.
28. Xxxx Xxxxxx Managed Assets Trust
29. Xxxx Xxxxxx Mid-Cap Growth Fund
30. Xxxx Xxxxxx Multi-State Municipal Series Trust
31. Xxxx Xxxxxx National Municipal Trust
32. Xxxx Xxxxxx Natural Resource Development Securities Inc.
33. Xxxx Xxxxxx New York Municipal Money Market Trust
34. Xxxx Xxxxxx New York Tax-Free Income Fund
35. Xxxx Xxxxxx Pacific Growth Fund Inc.
36. Xxxx Xxxxxx Precious Metals and Minerals Trust
37. Xxxx Xxxxxx Premier Income Trust
38. Xxxx Xxxxxx Retirement Series
39. Xxxx Xxxxxx Select Dimensions Series
40. Xxxx Xxxxxx Select Municipal Reinvestment Fund
41. Xxxx Xxxxxx Short-Term Bond Fund
42. Xxxx Xxxxxx Short-Term U.S. Treasury Trust
43. Xxxx Xxxxxx Strategist Fund
44. Xxxx Xxxxxx Tax-Exempt Securities Trust
45. Xxxx Xxxxxx Tax-Free Daily Income Trust
46. Xxxx Xxxxxx U.S. Government Money Market Trust
47. Xxxx Xxxxxx U.S. Government Securities Trust
48. Xxxx Xxxxxx Utilities Fund
49. Xxxx Xxxxxx Value-Added Market Series
50. Xxxx Xxxxxx Variable Investment Series
51. Xxxx Xxxxxx World Wide Income Trust
52. Xxxx Xxxxxx World Wide Investment Trust
CLOSED-END FUNDS
53. High Income Advantage Trust
54. High Income Advantage Trust II
55. High Income Advantage Trust III
56. InterCapital Income Securities Inc.
57. Xxxx Xxxxxx Government Income Trust
58. InterCapital Insured Municipal Bond Trust
59. InterCapital Insured Municipal Trust
60. InterCapital Insured Municipal Income Trust
61. InterCapital California Insured Municipal Income Trust
62. InterCapital Insured Municipal Securities
63. InterCapital Insured California Municipal Securities
64. InterCapital Quality Municipal Investment Trust
65. InterCapital Quality Municipal Income Trust
66. InterCapital Quality Municipal Securities
67. InterCapital California Quality Municipal Securities
68. InterCapital New York Quality Municipal Securities
4
SCHEDULE B
XXXX XXXXXX SERVICES COMPANY INC.
SCHEDULE OF ADMINISTRATIVE FEES--APRIL 17, 1995
Monthly compensation calculated daily by applying the following annual
rates to a fund's net assets:
FIXED INCOME FUNDS
Xxxx Xxxxxx Balanced Income
Fund 0.60% to the net assets.
Xxxx Xxxxxx California
Tax-Free Income Fund 0.055% of the portion of daily net assets
not exceeding $500 million; 0.0525% of the
portion exceeding $500 million but not
exceeding $750 million; 0.050% of the
portion exceeding $750 million but not
exceeding $1 billion; and 0.0475% of the
portion of the daily net assets exceeding $1
billion.
Xxxx Xxxxxx Convertible
Securities Securities
Trust 0.060% of the portion of the daily net
assets not exceeding $750 million; .055% of
the portion of the daily net assets
exceeding $750 million but not exceeding $1
billion; 0.050% of the portion of the daily
net assets of the exceeding $1 billion but
not exceeding $1.5 billion; 0.0475% of the
portion of the daily net assets exceeding
$1.5 billion but not exceeding $2 billion;
0.045% of the portion of the daily net
assets exceeding $2 billion but not
exceeding $3 billion; and 0.0425% of the
portion of the daily net assets exceeding $3
billion.
Xxxx Xxxxxx Diversified
Income Trust 0.040% of the net assets.
Xxxx Xxxxxx Federal
Securities Trust 0.055% of the portion of the daily net
assets not exceeding $1 billion; 0.0525% of
the portion of the daily net assets
exceeding $1 billion but not exceeding $1.5
billion; 0.050% of the portion of the daily
net assets exceeding $1.5 billion but not
exceeding $2 billion; 0.0475% of the portion
of the daily net assets exceeding $2 billion
but not exceeding $2.5 billion; 0.045% of
the portion of daily net assets exceeding
$2.5 billion but not exceeding $5 billion;
0.0425% of the portion of the daily net
assets exceeding $5 billion but not
exceeding $7.5 billion; 0.040% of the
portion of the daily net assets exceeding
$7.5 billion but not exceeding $10 billion;
0.0375% of the portion of the daily net
assets exceeding $10 billion but not
exceeding $12.5 billion; and 0.035% of the
portion of the daily net assets exceeding
$12.5 billion.
Xxxx Xxxxxx Global
Short-Term
Income Fund 0.055% of the portion of the daily net
assets not exceeding $500 million; and
0.050% of the portion of the daily net
assets exceeding $500 million.
Xxxx Xxxxxx High Income
Securities 0.050% to the net assets.
Xxxx Xxxxxx High Yield
Securities Inc. 0.050% of the portion of the daily net
assets not exceeding $500 million; 0.0425%
of the portion of the daily net assets
exceeding $500 million but not exceeding
$750 million; 0.0375% of the portion of the
daily net assets exceeding $750 million but
not exceeding $1 billion; 0.035% of the
portion of
B-1
the daily net assets exceeding $1 billion
but not exceeding $2 billion; 0.0325% of the
portion of the daily net assets exceeding $2
billion but not exceeding $3 billion; and
0.030% of the portion of daily net assets
exceeding $3 billion.
Xxxx Xxxxxx Intermediate
Income Securities 0.060% of the portion of the daily net
assets not exceeding $500 million; 0.050% of
the portion of the daily net assets
exceeding $500 million but not exceeding
$750 million; 0.040% of the portion of the
daily net assets exceeding $750 million but
not exceeding $1 billion; and 0.030% of the
portion of the daily net assets exceeding $1
billion.
Xxxx Xxxxxx Limited Term
Municipal Trust 0.050% to the net assets.
Xxxx Xxxxxx Multi-State
Municipal
Series Trust (10) 0.035% to the net assets.
Xxxx Xxxxxx National
Municipal Trust 0.035% to the net assets.
Xxxx Xxxxxx New York
Tax-Free
Income Fund 0.055% to the net assets not exceeding $500
million and 0.0525% of the net assets
exceeding $500 million.
Xxxx Xxxxxx Premier
Income Trust 0.050% to the net assets.
Xxxx Xxxxxx Retirement
Series
Intermediate Income 0.065% to the net assets.
Xxxx Xxxxxx Retirement
Series
U.S. Government Securities
Trust 0.065% to the net assets.
Xxxx Xxxxxx Select
Dimensions
Series-North American
Government
Securities Portfolio 0.65% to the net assets.
Xxxx Xxxxxx Short-Term
Bond Fund 0.070% to the net assets.
Xxxx Xxxxxx Short-Term U.S.
Treasury Trust 0.035% to the net assets.
Xxxx Xxxxxx Tax-Exempt
Securities Trust 0.050% of the portion of the daily net
assets not exceeding $500 million; 0.0425%
of the portion of the daily net assets
exceeding $500 million but not exceeding
$750 million; 0.0375% of the portion of the
daily net assets exceeding $750 million but
not exceeding $1 billion; and 0.035% of the
portion of the daily net assets exceeding $1
billion but not exceeding $1.25 billion;
.0325% of the portion of the daily net
assets exceeding $1.25 billion.
Xxxx Xxxxxx U.S. Government
Securities Trust 0.050% of the portion of such daily net
assets not exceeding $1 billion; 0.0475% of
the portion of such daily net assets
exceeding $1 billion but not exceeding $1.5
billion; 0.045% of the portion of such daily
net assets exceeding $1.5 billion but not
exceeding $2 billion; 0.0425% of the portion
of such daily net assets exceeding $2
billion but not exceeding $2.5 billion;
0.040% of that portion of such daily net
assets exceeding $2.5 billion but not
exceeding $5 billion; 0.0375% of that
portion
B-2
of such daily net assets exceeding $5
billion but not exceeding $7.5 billion;
0.035% of that portion of such daily net
assets exceeding $7.5 billion but not
exceeding $10 billion; 0.0325% of that
portion of such daily net assets exceeding
$10 billion but not exceeding $12.5 billion;
and 0.030% of that portion of such daily net
assets exceeding $12.5 billion.
Xxxx Xxxxxx Variable
Investment
Series-High Yield 0.050% to the net assets.
Xxxx Xxxxxx Variable
Investment Series-Quality
Income 0.050% to the net assets.
Xxxx Xxxxxx World Wide
Income Trust 0.075% of the daily net assets up to $250
million; 0.060% of the portion of the daily
net assets exceeding $250 million but not
exceeding $500 million; 0.050% of the
portion of the daily net assets of the
exceeding $500 million but not exceeding
$750 milliion; 0.040% of the portion of the
daily net assets exceeding $750 million but
not exceeding $1 billion; and 0.030% of the
daily net assets exceeding $1 billion.
Xxxx Xxxxxx Select Municipal
Reinvestment Fund 0.050% to the net assets.
EQUITY FUNDS
Xxxx Xxxxxx American Value
Fund 0.0625% of the portion of the daily net
assets not exceeding $250 million and 0.050%
of the portion of the daily net assets
exceeding $250 million.
Xxxx Xxxxxx Balanced Growth
Fund 0.60% to the net assets.
Xxxx Xxxxxx Capital Growth
Securities 0.065% to the portion of daily net assets
not exceeding $500 million; 0.055% of the
portion exceeding $500 million but not
exceeding $1 billion; 0.050% of the portion
exceeding $1 billion but not exceeding $1.5
billion; and 0.0475% of the net assets
exceeding $1.5 billion.
Xxxx Xxxxxx Developing
Growth Securities Trust 0.050 of the portion of daily net assets not
exceeding $500 million; and 0.0475% of the
portion of daily net assets exceeding $500
million.
Xxxx Xxxxxx Dividend Growth
Securities Inc. 0.0625% of the portion of the daily net
assets not exceeding $250 million; 0.050% of
the portion exceeding $250 million but not
exceeding $1 billion; 0.0475% of the portion
of daily net assets exceeding $1 billion but
not exceeding $2 billion; 0.045% of the
portion of daily net assets exceeding $2
billion but not exceeding $3 billion;
0.0425% of the portion of daily net assets
exceeding $3 billion but not exceeding $4
billion; 0.040% of the portion of daily net
assets exceeding $4 billion but not
exceeding $5 billion; 0.0375% of the portion
of the daily net assets exceeding $5 billion
but not exceeding $6 billion; 0.035% of the
portion of the daily net assets exceeding $6
billion but not exceeding $8 billion; and
0.0325% of the portion of the daily net
assets exceeding $8 billion.
B-3
Xxxx Xxxxxx European Growth
Fund Inc. 0.060% of the portion of daily net assets
not exceeding $500 million; and 0.057% of
the portion of daily net assets exceeding
$500 million.
Xxxx Xxxxxx Global Asset
Allocation Fund 1.0% to the net assets.
Xxxx Xxxxxx Global Dividend
Growth Securities 0.075% to the net assets.
Xxxx Xxxxxx Global Utilities
Fund 0.065% to the net assets.
Xxxx Xxxxxx Health Sciences
Trust 0.10% to the net assets.
Xxxx Xxxxxx International
Small Cap Fund 0.075% to the net assets.
Xxxx Xxxxxx Managed Assets
Trust 0.060% to the daily net assets not exceeding
$500 million and 0.055% to the daily net
assets exceeding $500 million.
Xxxx Xxxxxx Mid-Cap Growth
Fund 0.75% to the net assets.
Xxxx Xxxxxx Natural Resource
Development Securities Inc. 0.0625% of the portion of the daily net
assets not exceeding $250 million and 0.050%
of the portion of the daily net assets
exceeding $250 million.
Xxxx Xxxxxx Pacific Growth
Fund Inc. 0.060% of the portion of daily net assets
not exceeding $1 billion; and 0.057% of the
portion of daily net assets exceeding $1
billion.
Xxxx Xxxxxx Precious Metals
and Minerals Trust 0.080% to the net assets.
Xxxx Xxxxxx Retirement
Series American Value 0.085% to the net assets.
Xxxx Xxxxxx Retirement
Series Capital Growth 0.085% to the net assets.
Xxxx Xxxxxx Retirement
Series Dividend Growth 0.075% to the net assets.
Xxxx Xxxxxx Retirement
Series Global Equity 0.10% to the net assets.
Xxxx Xxxxxx Retirement
Series Intermediate Income
Securities 0.065% to the net assets.
Xxxx Xxxxxx Retirement
Series Liquid Asset 0.050% to the net assets.
Xxxx Xxxxxx Retirement
Series Strategist 0.085% to the net assets.
Xxxx Xxxxxx Retirement
Series U.S. Government
Money Market 0.050% to the net assets.
Xxxx Xxxxxx Retirement
Series U.S. Government
Securities 0.065% to the net assets.
Xxxx Xxxxxx Retirement
Series Utilities 0.075% to the net assets.
B-4
Xxxx Xxxxxx Retirement
Series Value Added 0.050% to the net assets.
Xxxx Xxxxxx Select
Dimensions Series-
American Value Portfolio 0.625% to the net assets.
Balanced Portfolio 0.75% to the net assets.
Core Equity Portfolio 0.85% to the net assets.
Developing Growth Portfolio 0.50% to the net assets.
Diversified Income Portfolio 0.40% to the net assets.
Dividend Growth Portfolio 0.625% to the net assets.
Emerging Markets Portfolio 1.25% to the net assets.
Global Equity Portfolio 1.0% to the net assets.
Utilities Portfolio 0.65% to the net assets.
Value-Added Market Portfolio 0.50% to the net assets.
Xxxx Xxxxxx Strategist Fund 0.060% of the portion of daily net assets
not exceeding $500 million; 0.055% of the
portion of the daily net assets exceeding
$500 million but not exceeding $1 billion;
and 0.050% of the portion of the daily net
assets exceeding $1 billion.
Xxxx Xxxxxx Utilities Fund 0.065% of the portion of daily net assets
not exceeding $500 million; 0.055% of the
portion exceeding $500 million but not
exceeding $1 billion; 0.0525% of the portion
exceeding $1 billion but not exceeding $1.5
billion; 0.050% of the portion exceeding
$1.5 billion but not exceeding $2.5 billion;
0.0475% of the portion exceeding $2.5
billion but not exceeding $3.5 billion;
0.045% of the portion of the daily net
assets exceeding $3.5 but not exceeding $5
billion; and 0.0425% of the portion of daily
net assets exceeding $5 billion.
Xxxx Xxxxxx Value-Added
Market Series 0.050% of the portion of daily net assets
not exceeding $500 million; and 0.45% of the
portion of daily net assets exceeding $500
million.
Xxxx Xxxxxx Variable
Investment Series-Capital
Growth 0.065% to the net assets.
Xxxx Xxxxxx Variable
Investment Series-Dividend
Growth 0.0625% of the portion of daily net assets
not exceeding $500 million; and 0.050% of
the portion of daily net assets exceeding
$500 million.
Xxxx Xxxxxx Variable
Investment Series-Equity 0.050% to the net assets.
Xxxx Xxxxxx Variable
Investment Series-European
Growth 0.060% to the net assets.
Xxxx Xxxxxx Variable
Investment Series-Managed 0.050% to the net assets.
Xxxx Xxxxxx Variable
Investment Series-Utilities 0.065% of the portion of daily net assets
exceeding $500 million and 0.055% of the
portion of daily net assets exceeding $500
million.
Xxxx Xxxxxx World Wide
Investment Trust 0.055% of the portion of daily net assets
not exceeding $500 million; and 0.05225% of
the portion of daily net assets exceeding
$500 million.
B-5
MONEY MARKET FUNDS
Active Assets Account (4) 0.050% of the portion of the daily net
assets not exceeding $500 million; 0.0425%
of the portion of the daily net assets
exceeding $500 million but not exceeding
$750 million; 0.0375% of the portion of the
daily net assets exceeding $750 million but
not exceeding $1 billion; 0.035% of the
portion of the daily net assets exceeding $1
billion but not exceeding $1.5 billion;
0.0325% of the portion of the daily net
assets exceeding $1.5 billion but not
exceeding $2 billion; 0.030% of the portion
of the daily net assets exceeding $2 billion
but not exceeding $2.5 billion; 0.0275% of
the portion of the daily net assets
exceeding $2.5 billion but not exceeding $3
billion; and 0.025% of the portion of the
daily net assets exceeding $3 billion.
Xxxx Xxxxxx California
Tax-Free Daily Income Trust 0.050% of the portion of the daily net
assets not exceeding $500 million; 0.0425%
of the portion of the daily net assets
exceeding $500 million but not exceeding
$750 million; 0.0375% of the portion of the
daily net assets exceeding $750 million but
not exceeding $1 billion; 0.035% of the
portion of the daily net assets exceeding $1
billion but not exceeding $1.5 billion;
0.0325% of the portion of the daily net
assets exceeding $1.5 billion but not
exceeding $2 billion; 0.030% of the portion
of the daily net assets exceeding $2 billion
but not exceeding $2.5 billion; 0.0275% of
the portion of the daily net assets
exceeding $2.5 billion but not exceeding $3
billion; and 0.025% of the portion of the
daily net assets exceeding $3 billion.
Xxxx Xxxxxx Liquid Asset
Fund Inc. 0.050% of the portion of the daily net
assets not exceeding $500 million; 0.0425%
of the portion of the daily net assets
exceeding $500 million but not exceeding
$750 million; 0.0375% of the portion of the
daily net assets exceeding $750 million but
not exceeding $1 billion; 0.035% of the
portion of the daily net assets exceeding $1
billion but not exceeding $1.35 billion;
0.0325% of the portion of the daily net
assets exceeding $1.35 billion but not
exceeding $1.75 billion; 0.030% of the
portion of the daily net assets exceeding
$1.75 billion but not exceeding $2.15
billion; 0.0275% of the portion of the daily
net assets exceeding $2.15 billion but not
exceeding $2.5 billion; 0.025% of the
portion of the daily net assets exceeding
$2.5 billion but not exceeding $15 billion;
0.0249% of the portion of the daily net
assets exceeding $15 billion but not
exceeding $17.5 billion; and 0.0248% of the
portion of the daily net assets exceeding
$17.5 billion.
Xxxx Xxxxxx New York
Municipal Money Market
Trust 0.050% of the portion of the daily net
assets not exceeding $500 million; 0.0425%
of the portion of the daily net assets
exceeding $500 million but not exceeding
$750 million; 0.0375% of the portion of the
daily net assets exceeding $750 million but
not exceeding $1 billion; 0.035% of the
portion of the daily net assets exceeding $1
billion but not exceeding $1.5 billion;
0.0325% of the portion of the daily net
assets exceeding $1.5 billion but not
exceeding $2 billion; 0.030% of the portion
of the daily net assets exceeding $2 bil-
B-6
lion but not exceeding $2.5 billion; 0.0275%
of the portion of the daily net assets
exceeding $2.5 billion but not exceeding $3
billion; and 0.025% of the portion of the
daily net assets exceeding $3 billion.
Xxxx Xxxxxx Retirement
Series Liquid Assets 0.050% of the net assets.
Xxxx Xxxxxx Retirement
Series U.S. Government
Money Market 0.050% of the net assets.
Xxxx Xxxxxx Select
Dimensions Series- Money
Market Portfolio 0.50% to the net assets.
Xxxx Xxxxxx Tax-Free Daily
Income Trust 0.050% of the portion of the daily net
assets not exceeding $500 million; 0.0425%
of the portion of the daily net assets
exceeding $500 million but not exceeding
$750 million; 0.0375% of the portion of the
daily net assets exceeding $750 million but
not exceeding $1 billion; 0.035% of the
portion of the daily net assets exceeding $1
billion but not exceeding $1.5 billion;
0.0325% of the portion of the daily net
assets exceeding $1.5 billion but not
exceeding $2 billion; 0.030% of the portion
of the daily net assets exceeding $2 billion
but not exceeding $2.5 billion; 0.0275% of
the portion of the daily net assets
exceeding $2.5 billion but not exceeding $3
billion; and 0.025% of the portion of the
daily net assets exceeding $3 billion.
Xxxx Xxxxxx U.S. Government
Money Market Trust 0.050% of the portion of the daily net
assets not exceeding $500 million; 0.0425%
of the portion of the daily net assets
exceeding $500 million but not exceeding
$750 million; 0.0375% of the portion of the
daily net assets exceeding $750 million but
not exceeding $1 billion; 0.035% of the
portion of the daily net assets exceeding $1
billion but not exceeding $1.5 billion;
0.0325% of the portion of the daily net
assets exceeding $1.5 billion but not
exceeding $2 billion; 0.030% of the portion
of the daily net assets exceeding $2 billion
but not exceeding $2.5 billion; 0.0275% of
the portion of the daily net assets
exceeding $2.5 billion but not exceeding $3
billion; and 0.025% of the portion of the
daily net assets exceeding $3 billion.
Xxxx Xxxxxx Variable
Investment Series-Money
Market 0.050% to the net assets.
Monthly compensation calculated weekly by applying the following annual
rates to the weekly net assets.
CLOSED-END FUNDS
Xxxx Xxxxxx Government
Income Trust 0.060% to the average weekly net assets.
High Income Advantage Trust 0.075% of the portion of the average weekly
net assets not exceeding $250 million;
0.060% of the portion of average weekly net
assets exceeding $250 million and not
exceeding $500 million; 0.050% of the
portion of average weekly net assets
exceeding $500 million and not exceeding
$750 million; 0.040% of the portion of
average weekly net assets exceeding
B-7
$750 million and not exceeding $1 billion;
and 0.030% of the portion of average weekly
net assets exceeding $1 billion.
High Income Advantage
Trust II 0.075% of the portion of the average weekly
net assets not exceeding $250 million;
0.060% of the portion of average weekly net
assets exceeding $250 million and not
exceeding $500 million; 0.050% of the
portion of average weekly net assets
exceeding $500 million and not exceeding
$750 million; 0.040% of the portion of
average weekly net assets exceeding $750
million and not exceeding $1 billion; and
0.030% of the portion of average weekly net
assets exceeding $1 billion.
High Income Advantage
Trust III 0.075% of the portion of the average weekly
net assets not exceeding $250 million;
0.060% of the portion of average weekly net
assets exceeding $250 million and not
exceeding $500 million; 0.050% of the
portion of average weekly net assets
exceeding $500 million and not exceeding
$750 million; 0.040% of the portion of the
average weekly net assets exceeding $750
million and not exceeding $1 billion; and
0.030% of the portion of average weekly net
assets exceeding $1 billion.
InterCapital Income
Securities Inc. 0.050% to the average weekly net assets.
InterCapital Insured
Municipal Bond Trust 0.035% to the average weekly net assets.
InterCapital Insured
Municipal Trust 0.035% to the average weekly net assets.
InterCapital Insured
Municipal Income Trust 0.035% to the average weekly net assets.
InterCapital California
Insured Municipal Income
Trust 0.035% to the average weekly net assets.
InterCapital Quality
Municipal Investment Trust 0.035% to the average weekly net assets.
InterCapital New York
Quality Municipal
Securities 0.035% to the average weekly net assets.
InterCapital Quality
Municipal Income Trust 0.035% to the average weekly net assets.
InterCapital Quality
Municipal Securities 0.035% to the average weekly net assets.
InterCapital California
Quality Municipal
Securities 0.035% to the average weekly net assets.
InterCapital Insured
Municipal Securities 0.035% to the average weekly net assets.
InterCapital Insured
California Municipal
Securities 0.035% to the average weekly net assets.
B-8
