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Exhibit (h)(7)
AMENDMENT
To Transfer Agency and Service Agreement
Between
Armada Funds
And
State Street Bank and Trust Company
This Amendment is made as of this 12th day of February, 2001 between Armada
Funds (the "Fund") and State Street Bank and Trust Company (the "Bank"). In
accordance with ARTICLES 2 (FEES AND EXPENSES) AND 12 (AMENDMENT) of the
Transfer Agency and Service Agreement between the Fund and the Bank dated March
1, 1997 (the "Agreement"), the parties desire to amend the Agreement as set
forth herein.
NOW THEREFORE, the parties agree as follows:
1. Fees and Expenses. The fee schedule attached to the Agreement is
replaced and superseded with the Fee Schedule ("Schedule 2.1") attached hereto
and dated January 1, 2001 through December 31, 2001.
2. All defined terms and definitions in the Agreement shall be the same
in this amendment ("2001 Amendment") except as specifically revised by this 2001
Amendment; and
3. Except as specifically set forth in this 2001 Amendment, all other
terms and conditions of the Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
in their names and on their behalf by and through their duly authorized
officers, as of the day and year first above written.
ARMADA FUNDS STATE STREET BANK AND TRUST COMPANY
By: /s/ Xxxxxxx X. Xxxxxxx By: /s/ Xxxxxx X. Xxxxx
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Title: President Title: Vice Chairman
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SCHEDULE 2.1
FEE SCHEDULE
Effective January 1, 2001 through
December 31, 2001
GENERAL: Fees are based on annual per shareholder account charges for account
maintenance. Fees are billable on a monthly basis at the rate of 1/12 of the
annual fee. A charge is made for an account in the month that an account opens
or closes.
ANNUAL FEES
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Base Fee (per Cusip)* $14,000.00
Open Account Fee $ 18.00/account
Level 3 Network Account Fee $ 14.50/account
Closed Account Fee $ 2.40/account
XXX Custodial Maintenance Fee (if applicable) $ 10.00/account
* New funds will be billed at a lower base fee of $500.00 per month for the
first 90 days after the funds are live.
Funds Implementation Fee $ 1,500.00/Per Cusip
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Out-of-pocket Expense Xxxx as Incurred
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Out-of-Pocket expenses include but are not limited to: confirmation statements,
investor statements, reports, postage, forms, audio response, telephone, records
retention, customized programming/enhancements, transcripts, microfilm,
microfiche, and expenses incurred at the specific direction of the Fund.
ARMADA FUNDS STATE STREET BANK AND TRUST COMPANY
By: /s/ Xxxxxxx X. Xxxxxxx By: /s/Xxxxxx X. Xxxxx
-------------------------- --------------------------
Title: President Title: Vice Chairman
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