EXHIBIT (h)(20)
AMENDMENT NO. 9 TO ADMINISTRATION AGREEMENT
This AMENDMENT NO. 9, dated the 31st day of December, 2003, is made by
and between ABN AMRO FUNDS, a Delaware statutory trust (the "Trust"), operating
as an open-end management investment company registered under the Investment
Company Act of 1940, as amended, duly organized and existing under the laws of
the State of Delaware and ABN AMRO INVESTMENT FUND SERVICES INC., an Illinois
corporation (the "Administrator") (collectively, the "Parties").
WITNESSETH THAT:
WHEREAS, the Trust and the Administrator originally entered into an
Administration Agreement dated June 17, 1999, as amended to date, wherein the
Administrator agreed to provide certain administrative services to each series
of the Trust (the "Agreement"); and
WHEREAS, the Parties wish to amend the Agreement to change the fees set
forth on Schedule B to the Agreement.
NOW, THEREFORE, in consideration of the premises and mutual covenants
contained herein, the Parties hereto, intending to be legally bound, do hereby
agree to amend Schedule B to the Agreement in the form attached hereto as
Schedule B.
This Amendment shall take effect upon the day and month first written
above.
IN WITNESS WHEREOF, the Parties hereto have caused this Amendment
consisting of one type written page, together with Schedule B, to be signed by
their duly authorized officers as of the day and month first above written.
ABN AMRO FUNDS ABN AMRO INVESTMENT FUND
SERVICES, INC.
By: /s/ Xxxxxx Xxxxxxxxxx By: /s/ Xxxxx Xxxxx
-------------------------- ------------------------
Title: C.O.O. Title: Vice President
SCHEDULE B
FEE SCHEDULE
Each Fund will pay the Administrator on the first business day of each
month a fee for the previous month at the rates listed below. The fee for the
period from the effective date of this Agreement to the end of such month shall
be prorated according to the proportion that such period bears to the full
monthly period. Upon any termination of this Agreement before the end of any
month, the fee for such part of a month shall be prorated according to the
proportion which such period bears to the full monthly period and shall be
payable upon the date of termination of this Agreement.
I. ADMINISTRATION FEES:
.06% of less than $2 billion of the aggregate average daily net assets
of the Funds; and
.05% of aggregate average daily net assets of the Funds of at least $2
billion but not more than $12.5 billion; and
.045% of the Funds' aggregate average daily net assets over $12.5
billion.
II. CUSTODY LIAISON FEES:
$10,000 for average daily net assets of a Fund less than $100 million;
and
$15,000 for average daily net assets of a Fund of at least $100 million
but not more than $500 million; and
$20,000 for average daily net assets of a Fund over $500 million.
III. OUT-OF-POCKET EXPENSES:
The Administrator shall be entitled to collect all out-of-pocket expenses.
Out-of-pocket expenses include, but are not limited to, the following:
- Postage of Board meeting materials and other materials to the Trust's Board
members and service providers (including overnight or other courier
services)
- Telecommunications charges (including FAX) with respect to communications
with the Trust's trustees, officers and service providers
- Duplicating charges with respect to filings with federal and state
authorities and Board meeting materials
- Courier services
- Pricing services
- Forms and supplies for the preparation of Board meetings and other
materials for the Trust by the Administrator
- Vendor set-up charges for Blue Sky services
- Customized programming requests
- Travel expenses
- SEC filings on XXXXX
- N-CSR preparation and filing expenses
- Funds' proxy voting recordkeeping and filing expenses
- Third-party database charges for information used in reports to the Board
including, but not limited
to, Lipper, Strategic Insight, Morningstar, and Simfund.
- DataPath system charges
- Training expenses
- Such other expenses as are agreed to by the Administrator and the Trust
IV. XXX ADMINISTRATIVE SERVICES
Shareholder Account Fees: $15.00 per account per year
The account fee shall be waived for shareholders who maintain an aggregate XXX
balance of $50,000 or greater.
