AMENDMENT TO RESTATED AGENCY AGREEMENT
This Amendment is made and entered into this 1st day of July, 2001 by
and among LIBERTY FUNDS SERVICES, INC., a Massachusetts corporation ("LFS") and
each of LIBERTY-XXXXX XXX FUNDS MUNICIPAL TRUST, LIBERTY-XXXXX XXX FUNDS INCOME
TRUST AND LIBERTY-XXXXX XXX FUNDS INVESTMENT TRUST, each a Massachusetts
business trust (each, a "Trust," and collectively, the "Trusts").
WHEREAS, each Trust and LFS previously entered into a Restated Agency
Agreement dated August 1, 1995 (the "Agreement"); and
WHEREAS, the parties desire to amend Schedule A (regarding
compensation) and Schedule B (regarding series of the Trusts that are covered by
the Agreement).
NOW, THEREFORE, in consideration of the mutual covenants and agreements
of the parties hereto as herein set forth, the parties covenant and agree as
follows:
1. Schedule A of the Agreement is amended and restated in its
entirety as follows:
Each Fund that is a series of a Trust shall pay LFS for the services
to be provided by LFS under the Agreement an amount equal to the sum
of the following:
1. The Fund's Share of LFS Compensation; PLUS
2. A transaction fee of $1.40 per Transaction occurring in Fund
Accounts during any month; PLUS
3. An account fee for Open Accounts of $4.00 per annum; PLUS
4. An account fee for Closed Accounts of $1.50 per annum; PLUS
5. The Fund's Allocated Share of LFS Reimbursable Out-of-Pocket
Expenses.
Also, LFS shall be able to recover from the Funds, in the same manner
it charges for LFS Reimbursable Out-of-Pocket Expenses, fees payable
to DST under the remote services agreement with DST and one-time
expenses incurred during the conversion from CTRAN to DST. Such
expenses will be recovered at a rate of 1/24th per month.
All determinations hereunder shall be in accordance with generally
accepted accounting principles and subject to audit by the Funds'
independent accountants.
Definitions
"Allocated Share" for any month means that percentage of LFS
Reimbursable Out-of-Pocket Expenses which would be allocated
to the Fund for such month in accordance with the
methodology described in Exhibit 1 hereto.
"Closed Account" is any account on the books of LFS
representing record ownership of shares of a Fund which as
of the first day of any calendar month has a share balance
of zero and does not meet account purge criteria. The Closed
Account fee shall be payable on a monthly basis, in an
amount equal to 1/12 the per annum charge.
"LFS Reimbursable Out-of-Pocket Expenses" means (i)
out-of-pocket expenses incurred on behalf of the Fund by LFS
for stationery, forms, postage and similar items, (ii)
networking account fees paid to dealer firms by LFS on
shareholder accounts established or maintained pursuant to
the National Securities Clearing Corporation's networking
system, which fees are approved by the Trustees from time to
time and (iii) fees paid by LFS or its affiliates to
third-party dealer firms or transfer agents that maintain
omnibus accounts with a Fund in respect of expenses similar
to those referred to in clause (i) above, to the extent the
Trustees have approved the reimbursement by the Fund of such
fees.
"Distributor Fees" means the amount due LFS pursuant to any
agreement with the Fund's principal underwriter for
processing, accounting and reporting services in connection
with the sale of shares of the Fund.
"Fund" means each of the open-end investment companies
advised or administered by CMA that are series of the Trusts
which are parties to the Agreement.
"Fund Accounts" means all Open Accounts and all Closed
Accounts.
"Fund's Share of LFS Compensation" for any month means 1/12
of an amount equal to 0.06 percent of the average daily
closing value of the total net assets of the Fund for such
month.
"Open Accounts" is any account on the books of LFS
representing record ownership of shares of a Fund which as
of the first day of any calendar month has a share balance
greater than zero. The Open Account fee shall be payable on
a monthly basis, in an amount equal to 1/12 the per annum
change.
"Transaction" means any activity that has occurred relating
to any Fund Account, including all debits and credits to
account balances as well as maintenance and service
activities performed with respect to such Fund Account in
any month.
2. Schedule B of the Agreement is amended and restated in its
entirety in the form attached hereto.
LIBERTY-XXXXX XXX FUNDS MUNICIPAL TRUST
LIBERTY-XXXXX XXX FUNDS INCOME TRUST
LIBERTY-XXXXX XXX FUNDS INVESTMENT TRUST
By: /s/ Xxxxxxx X. Xxxxxx
Xxxxxxx X. Xxxxxx, Secretary
LIBERTY FUNDS SERVICES, INC.
By: /s/ Xxxx X. XxXxxxxx
Xxxx X. XxXxxxxx, President
EXHIBIT 1
METHODOLOGY OF ALLOCATING LFS
REIMBURSABLE OUT-OF-POCKET EXPENSES
1. LFS Reimbursable Out-of-Pocket Expenses are allocated to the Funds as
follows:
A. Identifiable Based on actual services performed and
invoiced to a Fund.
B. Unidentifiable Allocation will be based on three evenly
weighted factors.
- number of shareholder
accounts
- number of transactions
- average assets
Schedule B
The Series of the Trusts covered by the Agreement are as follows:
LIBERTY-XXXXX XXX FUNDS MUNICIPAL TRUST
Xxxxx Xxx High-Yield Municipals Fund
Xxxxx Xxx Intermediate Municipals Fund
Xxxxx Xxx Managed Municipals Fund
Xxxxx Xxx Municipal Money Market Fund
LIBERTY-XXXXX XXX FUNDS INCOME TRUST
Xxxxx Xxx Cash Reserves Funds
Xxxxx Xxx High Yield Fund
Xxxxx Xxx Income Fund
Xxxxx Xxx Intermediate Bond Fund
LIBERTY-XXXXX XXX FUNDS INVESTMENT TRUST Liberty Growth Investor Fund Liberty
Midcap Growth Fund Xxxxx Xxx Asia Pacific Fund Xxxxx Xxx Balanced Fund
Xxxxx Xxx Capital Opportunities Fund Xxxxx Xxx Focus Fund Xxxxx Xxx
European Thematic Equity Fund Xxxxx Xxx Global Thematic Equity Fund
Xxxxx Xxx Growth Stock Fund Xxxxx Xxx International Fund Xxxxx Xxx
Small Company Growth Fund Xxxxx Xxx Young Investor Fund
