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EXHIBIT 10.24
ASSIGNMENT AGREEMENT
AGREEMENT, made as of the 1st day of October, 1993, between Xxxxxxxxx
Xxx Investor Services Corp., a Florida corporation; Ivy Fund, a Massachusetts
business trust ("Trust"); and Ivy Management Inc., a Massachusetts corporation.
WHEREAS, the Trust is registered with the Securities and Exchange
Commission as an open-end management investment company under the Investment
Company Act of 1940, as amended ("Act"); and
WHEREAS, the Trust consists of several portfolios or "Series"; and
WHEREAS, the Trust and Ivy Management Inc. entered into a Transfer
Agency and Shareholder Services Agreement on January 1, 1992, under which Ivy
Management Inc. serves as transfer agent and shareholder services agent for the
Series of the Trust; and
WHEREAS, Ivy Management Inc. desires that its interest in the Transfer
Agency and Shareholder Services Agreement be assigned to Xxxxxxxxx Xxx Investor
Services Corp. and Xxxxxxxxx Xxx Investor Services Corp. desires to assume Ivy
Management Inc.'s interest under the terms of the Transfer Agency and
Shareholder Services Agreement; and
WHEREAS, Ivy Management Inc. and the Trust agree to the terms of this
assignment.
NOW, THEREFORE, it is agreed as follows:
1. ASSIGNMENT. Effective as of October 1, 1993, Ivy Management
Inc. hereby assigns to Xxxxxxxxx Xxx Investor Services Corp.
all of its interest in the Transfer Agency and Shareholder
Services Agreement, dated January 1, 1992, to which it is a
party with the Trust.
2. PERFORMANCE OF DUTIES. Xxxxxxxxx Xxx Investor Services Corp.
hereby assumes and agrees to perform all of Ivy Management
Inc.'s duties and obligations under the Transfer Agency and
Shareholder Services Agreement and to be subject to all of the
terms and conditions of said Agreement as if they applied to
Xxxxxxxxx Xxx Investor Services Corp., and Xxxxxxxxx Xxx
Investor Services Corp. shall indemnify and hold harmless Ivy
Management Inc. from any claim or demand made thereunder
arising or incurred after the effective date designated above.
3. CONSENT. The Trust and Ivy Management Inc. hereby consent to
this assignment by Ivy Management Inc. of ------- its rights
under the Transfer Agency and Shareholder Services Agreement
to Xxxxxxxxx Xxx Investor Services Corp. and the assumption by
Xxxxxxxxx Xxx Investor Services Corp. of Ivy Management Inc.'s
interest in such Agreement and the duties and obligations
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thereunder, and agree, subject to the terms and conditions of
said Agreement, to look to Xxxxxxxxx Xxx Investor Services
Corp. for the performance of the transfer agent's and
shareholder services agent's duties and obligations under said
Agreement in return for the consideration provided for in said
Agreement.
4. LIMITATION OF LIABILITY OF TRUSTEES, OFFICERS, AND
SHAREHOLDERS. A copy of the Agreement and Declaration of Trust
of the Trust is on file with the Secretary of State of the
Commonwealth of Massachusetts, and notice is hereby given that
this instrument is executed on behalf of the Trustees of the
Trust as Trustees and not individually and that the
obligations of this instrument are not binding upon any of the
Trustees, officers or shareholders of the Trust, but are
binding only upon the assets and property of the Trust.
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IN WITNESS WHEREOF, the parties hereto have caused this Assignment Agreement to
be executed by their duly authorized officers hereunto duly attested.
Attest:
By: /s/ Xxxxxxx X. Xxxxxx
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C. Xxxxxxx Xxxxxx, Secretary Xxxxxxx X. Xxxxxx, President
Ivy Management Inc.
Date: October 1, 1993
Attest:
By: /s/ Xxxxxxx X. Xxxxxx
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C. Xxxxxxx Xxxxxx, Secretary Xxxxxxx X. Xxxxxx, President
Ivy Fund
Date: October 1, 1993
Attest:
By: /s/ Xxxxx J, Xxxxxxx
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C. Xxxxxxx Xxxxxx, Secretary Xxxxx X. Xxxxxxx, President
Xxxxxxxxx Xxx Investor
Services Corp.
Date: October 1, 1993
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