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Plan and Agreement of Distribution
This plan and agreement is between IDS Global Series, Inc. (the
"Corporation") on behalf of its underlying series funds: IDS
Emerging Markets Fund, IDS Global Balanced Fund and IDS Innovations
Fund (individually a "Fund" and collectively the "Funds"); and
American Express Financial Advisors Inc., the principal underwriter
of the Corporation, for distribution services to the Funds.
The plan and agreement has been approved by members of the Board of
Directors (the "Board") of the Corporation who are not interested
persons of the Corporation and have no direct or indirect financial
interest in the operation of the plan or any related agreement, and
all of the members of the Board, in person, at a meeting called for
the purpose of voting on the plan and agreement.
The plan and agreement provides that:
1. The Corporation, on behalf of the Funds, will reimburse
American Express Financial Advisors Inc. for all sales and
promotional expenses attributable to the sale of the Funds'
respective Class B Common Stock, par value $0.01 per share (each
referred to as the "Class B Shares"), including sales commissions,
business and employee expenses charged to distribution of each
Funds' Class B Shares, and corporate overhead appropriately
allocated to the sale of each Funds' Class B Shares.
2. The amount of the reimbursement shall be equal on an annual
basis to 0.75% of the average daily net assets of the respective
Fund attributable to Class B Shares. The amount so determined
shall be paid to American Express Financial Advisors Inc. in cash
within five (5) business days after the last day of each month.
American Express Financial Advisors Inc. agrees that if, at the end
of any month, the expenses of any Fund, including fees under this
agreement and any other agreement between that Fund and American
Express Financial Advisors Inc. or American Express Financial
Corporation, but excluding taxes, brokerage commissions and charges
in connection with the purchase and sale of assets exceed the most
restrictive applicable state expense limitation for that Fund's
current fiscal year, that Fund shall not pay fees and expenses
under this agreement to the extent necessary to keep the Fund's
expenses from exceeding the limitation, it being understood that
American Express Financial Advisors Inc. will assume all unpaid
expenses and xxxx the Fund for them in subsequent months, but in no
event can the accumulation of unpaid expenses or billing be
carried past the end of the Fund's fiscal year.
3. For each purchase of Class B Shares, after eight years the
Class B Shares will be converted to Class A Common Stock, $0.01 par
value (the "Class A Shares") of the respective Fund and those
assets will no longer be included in determining the reimbursement
amount.
4. The Corporation understands that if a shareholder redeems a
Fund's Class B Shares before they are converted to Class A Shares,
American Express Financial Advisors Inc. will impose a sales charge
directly on the redemption proceeds to cover those expenses it has
previously incurred on the sale of those shares.
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5. American Express Financial Advisors Inc. agrees to provide at
least quarterly an analysis of distribution expenses and to meet
with representatives of the Corporation as reasonably requested to
provide additional information.
6. The plan and agreement shall continue in effect for a period
of more than one year provided it is reapproved at least annually
in the same manner in which it was initially approved.
7. The plan and agreement may not be amended to increase
materially the amount that may be paid by the Funds without the
approval of a least a majority of the respective Fund's outstanding
Class B Shares. Any other amendment must be approved in the manner
in which the plan and agreement was initially approved.
8. This agreement may be terminated (as to one or more of the
Funds) at any time without payment of any penalty by a vote of a
majority of the members of the Board who are not interested persons
of the Corporation and have no financial interest in the operation
of the plan and agreement, or, as to each Fund, by vote of a
majority of that Fund's outstanding Class B Shares, or by American
Express Financial Advisors Inc. The plan and agreement will
terminate automatically in the event of its assignment as that term
is defined in the Investment Company Act of 1940.
Approved this 13th day of November, 1996.
IDS GLOBAL SERIES, INC.
IDS Emerging Markets Fund
IDS Global Balanced Fund
IDS Innovations Fund
/s/ Xxxxxx X. Xxx
Xxxxxx X. Xxx
Vice President
AMERICAN EXPRESS FINANCIAL ADVISORS INC.
/s/ Xxxxxxx X. Xxxxx
Xxxxxxx X. Xxxxx
Vice President
