TRANSFER AGENT AGREEMENT
THIS AGREEMENT is made and entered into on this 21 day of December,
1998, by and between T.O. Xxxxxxxxxx Trust (hereinafter referred to as the
"Trust") and Firstar Mutual Fund Services, LLC, a limited liability company
organized under the laws of the State of Wisconsin (hereinafter referred to as
the "Agent").
WHEREAS, the Trust is an open-end management investment company which
is registered under the Investment Company Act of 1940; and
WHEREAS, the Agent is a trust company and, among other things, is in
the business of administering transfer and dividend disbursing agent functions
for the benefit of its customers;
NOW, THEREFORE, the Trust and the Agent do mutually promise and agree
as follows:
1. Terms of Appointment; Duties of the Agent
Subject to the terms and conditions set forth in this Agreement, the
Trust hereby employs and appoints the Agent to act as transfer agent and
dividend disbursing agent.
The Agent shall perform all of the customary services of a transfer
agent and dividend disbursing agent, and as relevant, agent in connection with
accumulation, open account or similar plans (including without limitation any
periodic investment plan or periodic withdrawal program), including but not
limited to:
A. Receive orders for the purchase of shares, with prompt delivery where
appropriate, of payment and supporting documentation to the Trust's
custodian;
B. Process purchase orders and issue the appropriate number of certificated
or uncertificated shares with such uncertificated shares being held in the
appropriate shareholder account;
C. Process redemption requests received in good order and, where relevant,
deliver appropriate documentation to the Trust's custodian;
D. Pay monies upon receipt from the Trust's custodian, where relevant in
accordance with the instructions of redeeming shareholders;
E. Process transfers of shares in accordance with the shareowner's
instructions;
F. Process exchanges between funds within the same family of funds;
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G. Issue and/or cancel certificates as instructed; replace lost, stolen or
destroyed certificates upon receipt of satisfactory indemnification or
surety bond;
H. Prepare and transmit payments for dividends and distributions declared
by the Trust;
I. Make changes to shareholder records, including, but not limited to,
address changes in plans (i.e.,systematic withdrawal, automatic
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investment, dividend reinvestment, etc.);
J. Record the issuance of shares of the Trust and maintain, pursuant to
Securities Exchange Act of 1934 Rule 17ad-10(e), a record of the total
number of shares of the Trust which are authorized, issued and
outstanding;
K. Prepare shareholder meeting lists and, if applicable, mail, receive and
tabulate proxies;
L. Mail shareholder reports and prospectuses to current shareholders;
M. Prepare and file U.S. Treasury Department forms 1099 and other
appropriate information returns required with respect to dividends and
distributions for all shareholders;
N. Provide shareholder account information upon request and prepare and
mail confirmations and statements of account to shareholders for all
purchases, redemptions and other confirmable transactions as agreed
upon with the Trust; and
O. Provide a Blue Sky System which will enable the Trust to
monitor the total number of shares sold in each state. In
addition, the Trust shall identify to the Agent in writing
those transactions and assets to be treated as exempt from the
Blue Sky reporting to the Trust for each state. The
responsibility of the Agent for the Trust's Blue Sky state
registration status is solely limited to the initial
compliance by the Trust and the reporting of such transactions
to the Trust.
2. Compensation
The Trust agrees to pay the Agent for performance of the duties listed
in this Agreement; the fees and out-of-pocket expenses include, but are not
limited to the following: printing, postage, forms, stationery, record
retention, mailing, insertion, programming, labels, shareholder lists and proxy
expenses.
These fees and reimbursable expenses may be changed from time to time
subject to mutual written agreement between the Trust and the Agent.
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The Trust agrees to pay all fees and reimbursable expenses within ten
(10) business days following the mailing of the billing notice.
3. Representations of Agent
The Agent represents and warrants to the Trust that:
A. It is a trust company duly organized, existing and in good standing under
the laws of Wisconsin;
B. It is a registered transfer agent under the Securities Exchange Act of
1934, as amended;
C. It is duly qualified to carry on its business in the state of Wisconsin;
D. It is empowered under applicable laws and by its charter and bylaws to
enter into and perform this Agreement;
E. All requisite corporate proceedings have been taken to authorize it to
enter and perform this Agreement;
F. It has and will continue to have access to the necessary facilities,
equipment and personnel to perform its duties and obligations under this
Agreement; and
G. It will comply with all applicable requirements of the Securities Act of
1933, as amended, and the Securities Exchange Act of 1934, as amended, the
Investment Company Act of 1940, as amended, and any laws, rules, and
regulations of governmental authorities having jurisdiction.
4. Representations of the Trust
The Trust represents and warrants to the Agent that:
A. The Trust is an open-end diversified investment company under the
Investment Company Act of 1940;
B. The Trust is a business trust organized, existing, and in good standing
under the laws of Massachusetts;
C. The Trust is empowered under applicable laws and by its Declaration of
Trust and bylaws to enter into and perform this Agreement;
D. All necessary proceedings required by the Declaration of Trust have been
taken to authorize it to enter into and perform this Agreement;
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E. The Trust will comply with all applicable requirements of the Securities
and Exchange Acts of 1933 and 1934, as amended, the Investment Company Act
of 1940, as amended, and any laws, rules and regulations of government
authorities having jurisdiction; and
F. A registration statement under the Securities Act of 1933 is
currently effective and will remain effective, and appropriate
state securities laws filings have been made and will continue
to be made, with respect to all shares of the Trust being
offered for sale.
5. Covenants of Trust and Agent
The Trust shall furnish the Agent a certified copy of the resolutions
of the Board of Trustees of the Trust authorizing the appointment of the Agent
and the execution of this Agreement. The Trust shall provide to the Agent a copy
of the Declaration of Trust, Bylaws of the Trust, and all amendments.
The Agent shall keep records relating to the services to be performed
hereunder, in the form and manner as it may deem advisable. To the extent
required by Section 31 of the Investment Company Act of 1940, as amended, and
the rules thereunder, the Agent agrees that all such records prepared or
maintained by the Agent relating to the services to be performed by the Agent
hereunder are the property of the Trust and will be preserved, maintained and
made available in accordance with such section and rules and will be surrendered
to the Trust on and in accordance with its/their request.
6. Indemnification; Remedies Upon Breach
The Agent shall exercise reasonable care in the performance of its
duties under this Agreement. The Agent shall not be liable for any error of
judgment or mistake of law or for any loss suffered by the Trust in connection
with matters to which this Agreement relates, including losses resulting from
mechanical breakdowns or the failure of communication or power supplies beyond
the Agent's control, except a loss resulting from the Agent's refusal or failure
to comply with the terms of this Agreement or from bad faith, negligence, or
willful misconduct on its part in the performance of its duties under this
Agreement. Notwithstanding any other provision of this Agreement, the Trust
shall indemnify and hold harmless the Agent from and against any and all claims,
demands, losses, expenses, and liabilities (whether with or without basis in
fact or law) of any and every nature (including reasonable attorneys' fees)
which the Agent may sustain or incur or which may be asserted against the Agent
by any person arising out of any action taken or omitted to be taken by it in
performing the services hereunder (i) in accordance with the foregoing
standards, or (ii) in reliance upon any written or oral instruction provided to
the Agent by any duly authorized officer of the Trust, such duly authorized
officer to be included in a list of authorized officers furnished to the Agent
and as amended from time to time in writing by resolution of the Board of
Trustees of the Trust.
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Further, the Trust will indemnify and hold the Agent harmless against
any and all losses, claims, damages, liabilities or expenses (including
reasonable counsel fees and expenses) resulting from any claim, demand, action
or suit as a result of the negligence of the Trust or the principal underwriter
(unless contributed to by the Agent's breach of this Agreement or other
Agreements between the Trust and the Agent, or the Agent's own negligence or bad
faith); or as a result of the Agent acting upon telephone instructions relating
to the exchange or redemption of shares received by the Agent and reasonably
believed by the Agent under a standard of care customarily used in the industry
to have originated from the record owner of the subject shares; or as a result
of acting in reliance upon any genuine instrument or stock certificate signed,
countersigned, or executed by any person or persons authorized to sign,
countersign, or execute the same.
In the event of a mechanical breakdown or failure of communication or
power supplies beyond its control, the Agent shall take all reasonable steps to
minimize service interruptions for any period that such interruption continues
beyond the Agent's control. The Agent will make every reasonable effort to
restore any lost or damaged data and correct any errors resulting from such a
breakdown at the expense of the Agent. The Agent agrees that it shall, at all
times, have reasonable contingency plans with appropriate parties, making
reasonable provision for emergency use of electrical data processing equipment
to the extent appropriate equipment is available. Representatives of the Fund
shall be entitled to inspect the Agent's premises and operating capabilities at
any time during regular business hours of the Agent, upon reasonable notice to
the Agent.
Regardless of the above, the Agent reserves the right to reprocess and
correct administrative errors at its own expense.
In order that the indemnification provisions contained in this section
shall apply, it is understood that if in any case the Trust may be asked to
indemnify or hold the Agent harmless, the Trust shall be fully and promptly
advised of all pertinent facts concerning the situation in question, and it is
further understood that the Agent will use all reasonable care to notify the
Trust promptly concerning any situation which presents or appears likely to
present the probability of such a claim for indemnification against the Trust.
The Trust shall have the option to defend the Agent against any claim which may
be the subject of this indemnification. In the event that the Trust so elects,
it will so notify the Agent and thereupon the Trust shall take over complete
defense of the claim, and the Agent shall in such situation initiate no further
legal or other expenses for which it shall seek indemnification under this
section. The Agent shall in no case confess any claim or make any compromise in
any case in which the Trust will be asked to indemnify the Agent except with the
Trust's prior written consent.
The Agent shall indemnify and hold the Trust harmless from and against
any and all claims, demands, losses, expenses, and liabilities (whether with or
without basis in fact or law) of any and every nature (including reasonable
attorneys' fees) which may be asserted against the Trust by any person arising
out of any action taken or omitted
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to be taken by the Agent as a result of the Agent's refusal or failure to comply
with the terms of this Agreement, its bad faith, negligence, or willful
misconduct.
7. Confidentiality
The Agent agrees on behalf of itself and its employees to treat
confidentially all records and other information relative to the Trust and its
shareholders and shall not be disclosed to any other party, except after prior
notification to and approval in writing by the Trust, which approval shall not
be unreasonably withheld and may not be withheld where the Agent may be exposed
to civil or criminal contempt proceedings for failure to comply after being
requested to divulge such information by duly constituted authorities.
Additional Series. The Trust is authorized to issue separate classes of
shares of beneficial interest representing interests in separate investment
portfolios. The parties intend that each portfolio established by the Trust, now
or in the future, be covered by the terms and conditions of this Agreement.
8. Records
The Agent shall keep records relating to the services to be performed
hereunder, in the form and manner, and for such period as it may deem advisable
and is agreeable to the Trust but not inconsistent with the rules and
regulations of appropriate government authorities, in particular, Section 31 of
The Investment Company Act of 1940 as amended (the "Investment Company Act"),
and the rules thereunder. The Agent agrees that all such records prepared or
maintained by the Agent relating to the services to be performed by the Agent
hereunder are the property of the Trust and will be preserved, maintained, and
made available with such section and rules of the Investment Company Act and
will be promptly surrendered to the Trust on and in accordance with its request.
9. Wisconsin Law to Apply
This Agreement shall be construed and the provisions thereof
interpreted under and in accordance with the laws of the state of Wisconsin.
10. Amendment, Assignment, Termination and Notice
A. This Agreement may be amended by the mutual written consent of the parties.
B. This Agreement may be terminated upon ninety (90) days' written notice
given by one party to the other.
C. This Agreement and any right or obligation hereunder may not be assigned by
either party without the signed, written consent of the other party.
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D. Any notice required to be given by the parties to each other under the
terms of this Agreement shall be in writing, addressed and delivered, or
mailed to the principal place of business of the other party. If to the
Agent, such notice should be sent to Firstar Trust Company Mutual Fund
Services, 000 Xxxx Xxxxxxxx Xxxxxx, Xxxxxxxxx, XX 00000. If to the Trust,
such notice should be sent to T.O. Xxxxxxxxxx Xxxxx, Xxx Xxxxxxxxxxx Xxxx,
Xxxxxxxxxx, XX 00000, Attention: Xxxxxx Xxxxxx, Jr., President.
E. In the event that the Trust gives to the Agent its written intention to
terminate and appoint a successor transfer agent, the Agent agrees to
cooperate in the transfer of its duties and responsibilities to the
successor, including any and all relevant books, records and other data
established or maintained by the Agent under this Agreement.
F. Should the Trust exercise its right to terminate, all out-of-pocket
expenses associated with the movement of records and material will be paid
by the Trust.
11. Notice
The name T.O. Xxxxxxxxxx Trust is the designation of the Trustees under
the Declaration of Trust, dated June 2, 1998, as amended from time to time. The
Declaration of Trust has been filed with the Secretary of State of the
Commonwealth of Massachusetts. The obligations of the Trust are not personally
binding upon, nor shall resort be had to the private property of, any of the
Trustees, shareholders, officers, employees or agents of the Trust, but the
Trust's property only shall be bound.
T.O. Xxxxxxxxxx Trust Firstar Mutual Fund Services, LLC
By: /s/ Xxxxxx Xxxxxx, Jr. By: /s/ Xxx X. Xxxxxxx
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Xxxxxx Xxxxxx, Jr. Xxx X. Xxxxxxx
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Shareholder Fees
(Charged to Investors)
Defined
Contribution
403(b)(7), 401(k)
XXX Accounts Plan Accounts
I. Qualified Plan Fees $12.50 $12.50
Annual maintenance fee per account 15.00 15.00
Transfer to successor trustee 15.00 15.00
Distribution to a participant (exclusive
of systematic withdrawal plans) 15.00 15.00
Refund of excess contribution 15.00 15.00
II. Additional Shareholder fees Amount
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Any outgoing wire $ 12.00/wire
Telephone exchange $ 5.00/telephone exchange
Return check fee $ 20.00/return check
Stop payment fee (liquidation,
dividend, draft check) $ 20.00/stop payment
Research fee $ 5.00/research item
(For requested items of the second
calendar year [or previous] to the
request)
These fees are subject to change upon
notification by Firstar Mutual Fund Services, LLC to
the Mutual Fund client.
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FIRSTAR
Mutual Fund Services
Shareholder Accounting Services
No-Load Funds
Annual Fee Schedule
oAnnual minimum for omnibus accounts and $16.00 per shareholder account. Minimum
annual fee of $29,900 for the first fund and $15,000 for each additional fund
and class of share.
oPlus out-of-pocket expenses, including but not limited to:
oTelephone - toll-free lines oPostage oProgramming oStationery/envelopes
oMailing oInsurance oProxies oRetention of records oMicrofilm/fiche of records
oSpecial reports oAll other out-of-pocket expenses oACH fees
Fees are billed monthly
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FIRSTAR
Mutual Fund Services
Shareholder Accounting Services
Automatic Investment Plan Processing
ACH Service
oAutomatic Investment Plan
oTelephone Purchase, Liquidation
oEFT Payments of Dividends, Capital Gains, SWP's
o$125.00 per month per fund group
o$0.50 per account set-up and/or change
o$0.50 per item for AIP purchases
o$0.50 per item for EFT payments, purchases
o$3.50 per correction, reversal, or return item
oFees are billed monthly
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FIRSTAR
Mutual Fund Services
Shareholder Fees
(Charged to Investors)
Defined Contribution
403(b)(7), 401(k)
XXX Accounts Plan Accounts
I.Qualified Plan Fees
Annual maintenance fee per account $12.50 $12.50
(Cap at $25.00 per SSN)
Education XXX $ 5.00 $ 5.00
(Cap at $25.00 per SSN)
Transfer to successor trustee $15.00 $15.00
Distribution to a participant (exclusive
Of systematic withdrawal plans) $15.00 $15.00
Refund of excess contribution $15.00 $15.00
II. Additional Shareholder Fees Amount
Any outgoing wire $12.00/wire
Telephone exchange $5.00/telephone exchange
Return check fee
$25
.00/return check
Stop payment fee (liquidation, dividend, $20.00/stop payment
Draft check)
Research fee $5.00/research item
(For requested items of the second calendar
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year [or previous] to the request)(Cap at $25.00)
Shareholder calls handled by a shareholder representative $1.00 per call
These fees are subject to change upon
notification by Firstar Mutual Fund Services LLC to
the Mutual Fund client.
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