ADMINISTRATIVE SERVICES AGREEMENT
This Administrative Services Agreement is made as of this 3rd day of
January, 2000 between Evergreen Equity Trust, a Delaware business trust (herein
called the "Trust"), and Evergreen Investment Services, Inc., a Delaware
corporation (herein called "EIS").
W I T N E S S E T H:
WHEREAS, Trust is a Delaware business trust consisting of one or more
series which operates as an open-end management investment company and is so
registered under the Investment Company Act of 1940; and
WHEREAS, the Trust desires to retain EIS as its Administrator to
provide it with administrative services and EIS is willing to render such
services.
NOW, THEREFORE, in consideration of the premises and mutual covenants
set forth herein, the parties hereto agree as follows:
1. APPOINTMENT OF ADMINISTRATOR. The Trust hereby appoints EIS as Administrator
of the Trust and each of its series listed on SCHEDULE A attached hereto on the
terms and conditions set forth in this Agreement; and EIS hereby accepts such
appointment and agrees to perform the services and duties set forth in Section 2
of this Agreement in consideration of the compensation provided for in Section 4
hereof.
2. SERVICES AND DUTIES. As Administrator, and subject to the supervision and
control of the Trustees of the Trust, EIS will hereafter provide facilities,
equipment and personnel to carry out the following administrative services for
operation of the business and affairs of the Trust and each of its series:
(a) Prepare, file and maintain the Trust's governing documents,
including the Declaration of Trust (which has previously been prepared
and filed), the By laws, minutes of meetings of Trustees and
shareholders, and proxy statements for meetings of shareholders;
(b) Prepare and file with the Securities and Exchange Commission and
the appropriate state securities authorities the registration
statements for the Trust and the Trust's shares and all amendments
thereto, reports to regulatory authorities and shareholders,
prospectuses, proxy statements, and such other documents as may be
necessary or convenient to enable the Trust to make a continuous
offering of its shares;
(c) Prepare, negotiate and administer contracts on behalf of the Trust
with, among others, the Trust's distributor, and custodian and transfer
agent;
(d) Supervise the Trust's fund accounting agent in the maintenance of
the Trust's general ledger and in the preparation of the Trust's
financial statements, including oversight of expense accruals and
payments and the determination of the net asset value of the Trust's
assets and of the Trust's shares, and of the declaration and payment of
dividends and other distributions to shareholders;
(e) Calculate performance data of the Trust for dissemination to
information services covering the investment company industry;
(f) Prepare and file the Trust's tax returns;
(g) Examine and review the operations of the Trust's custodian and
transfer agent;
(h) Coordinate the layout and printing of publicly disseminated
prospectuses and reports;
(i) Prepare various shareholder reports;
(j) Assist with the design, development and operation of new series
of the Trust;
(k) Coordinate shareholder meetings;
(l) Provide general compliance services; and
(m) Advise the Trust and its Trustees on matters concerning the
Trust and its affairs.
The foregoing, along with any additional services that EIS shall agree
in writing to perform for the Trust hereunder, shall hereafter be referred to as
"Administrative Services." Administrative Services shall not include any duties,
functions, or services to be performed for the Trust by the Trust's investment
adviser, distributor, custodian or transfer agent pursuant to their agreements
with the Trust.
3. EXPENSES. EIS shall be responsible for expenses incurred in providing office
space, equipment and personnel as may be necessary or convenient to provide the
Administrative Services to the Trust. The Trust shall be responsible for all
other expenses incurred by EIS on behalf of the Trust, including without
limitation postage and courier expenses, printing expenses, registration fees,
filing fees, fees of outside counsel and independent auditors, insurance
premiums, fees payable to Trustees who are not EIS employees, and trade
association dues.
4. COMPENSATION. As compensation for the Administrative Services provided to the
Trust with respect to each series, the Trust hereby agrees to pay and EIS hereby
agrees to accept as full compensation for its services rendered hereunder an
administrative fee, calculated daily and payable monthly, at an annual rate
determined in accordance with Schedule B attached hereto.
5. RESPONSIBILITY OF ADMINISTRATOR. EIS shall not be liable for any error of
judgment or mistake of law or for any loss suffered by the Trust in connection
with the matters to which this Agreement relates, except a loss resulting from
willful misfeasance, bad faith or gross negligence on its part in the
performance of its duties or from reckless disregard by it of its obligations
and duties under this Agreement. EIS shall be entitled to rely on and may act
upon advice of counsel (who may be counsel for the Trust) on all matters, and
shall be without liability for any action reasonably taken or omitted pursuant
to such advice. Any person, even though also an officer, director, partner,
employee or agent of EIS, who may be or become an officer, trustee, employee or
agent of the Trust, shall be deemed, when rendering services to the Trust or
acting on any business of the Trust (other than services or business in
connection with the duties of EIS hereunder) to be rendering such services to or
acting solely for the Trust and not as an officer, director, partner, employee
or agent or one under the control or direction of EIS even though paid by EIS.
6. DURATION AND TERMINATION.
(a) This Agreement shall be in effect until December 31, 2000, and
shall continue in effect from year to year thereafter, provided it is
approved, at least annually, by a vote of a majority of Trustees of the
Trust including a majority of the disinterested Trustees.
(b) This Agreement may be terminated at any time, without payment of
any penalty, on sixty (60) day's prior written notice by a vote of a
majority of the Trust's Trustees or by EIS.
7. AMENDMENT. No provision of this Agreement may be changed, waived, discharged
or terminated orally, but only by an instrument in writing signed by the party
against which an enforcement of the change, waiver, discharge or termination is
sought.
8. NOTICES. Notices of any kind to be given to the Trust hereunder by EIS
shall be in writing and shall be duly given if delivered to the Trust at: 000
Xxxxxxxx Xxxxxx, Xxxxxx, XX 00000, Attention: Secretary. Notices of any kind to
be given to EIS hereunder by the Trust shall be in writing and shall be duly
given if delivered to EIS at 000 Xxxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000.
Attention: Chief Administrative Officer.
9. LIMITATION OF LIABILITY. EIS is hereby expressly put on notice of the
limitation of liability as set forth in the Declaration of Trust and agrees that
the obligations pursuant to this Agreement of a particular series and of the
Trust with respect to that particular series be limited solely to the assets of
that particular series, and EIS shall not seek satisfaction of any such
obligation from the assets of any other series, the shareholders of any series,
the Trustees, officers, employees or agents of the Trust, or any of them.
10. MISCELLANEOUS. The captions in this Agreement are included for convenience
of reference only and in no way define or delimit any of the provisions hereof
or otherwise affect their construction or effect. If any provision of this
Agreement shall be held or made invalid by a court or regulatory agency
decision, statute, rule or otherwise, the remainder of this Agreement shall not
be affected thereby. Subject to the provisions of Section 5 hereof, this
Agreement shall be binding upon and shall inure to the benefit of the parties
hereto and their respective successors and shall be governed by Delaware law;
provided, however, that nothing herein shall be construed in a manner
inconsistent with the Investment Company Act of 1940 or any rule or regulation
promulgated by the Securities and Exchange Commission thereunder.
SCHEDULE A
(As of January 3,2000)
EVERGREEN EQUITY TRUST
Domestic Growth Funds
Evergreen Aggressive Growth Fund
Evergreen Capital Growth Fund
Evergreen Growth Fund
Evergreen Fund
Evergreen Omega Fund
Evergreen Small Company Growth Fund
Evergreen Strategic Growth Fund
Evergreen Stock Selector Fund
Evergreen Tax Strategic Equity Fund
Evergreen Masters Fund
Balanced Funds
Evergreen Capital Balanced Fund
Evergreen Capital Income and Growth Fund
Evergreen Foundation Fund
Evergreen Tax Strategic Foundation Fund
Evergreen Balanced Fund
Growth and Income Funds
Evergreen America's Utility Fund
Evergreen Equity Income Fund
Evergreen Growth and Income Fund
Evergreen Income and Growth Fund
Evergreen Small Cap Value Fund
Evergreen Value Fund
Evergreen Utility Fund
Evergreen Blue Chip Fund
Evergreen Healthcare Fund
Evergreen Technology Fund
SCHEDULE B
(As of January 3, 2000)
EVERGREEN EQUITY TRUST
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FUND ADMINISTRATIVE SERVICES FEE
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Domestic Growth Funds
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Evergreen Aggressive Growth Fund 0.10%
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Evergreen Capital Growth Fund 0.15%
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Evergreen Growth Fund 0.15%
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Evergreen Fund 0.10%
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Evergreen Omega Fund 0.10%
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Evergreen Small Company Growth Fund 0.10%
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Evergreen Strategic Growth Fund 0.10%
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Evergreen Stock Selector Fund 0.10%
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Evergreen Tax Strategic Equity Fund 0.10%
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Evergreen Masters Fund 0.10%
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Balanced Funds
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Evergreen Capital Income and Growth Fund 0.15%
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Evergreen Capital Balanced Fund 0.15%
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Evergreen Foundation Fund 0.10%
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Evergreen Tax Strategic Foundation Fund 0.10%
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Evergreen Balanced Fund 0.10%
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Growth and Income Funds
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Evergreen America's Utility Fund 0.39%*
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Evergreen Equity Income Fund 0.10%
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Evergreen Growth and Income Fund 0.10%
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Evergreen Income and Growth Fund 0.10%
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Evergreen Small Cap Value Fund 0.10%
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Evergreen Value Fund 0.10%
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Evergreen Utility Fund 0.10%
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Evergreen Blue Chip Fund 0.10%
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Evergreen Healthcare Fund 0.10%
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Evergreen Technology Fund 0.10%
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*The aggregate of Management Fees and Administrative Services Fees may not
exceed 0.65% of net assets per annum. Per budget, administrative expenses are
currently 0.39%.
