AMENDMENT NO. 1 TO THE SUB-ADMINISTRATION AND ACCOUNTING AGREEMENT
This Amendment No. 1 to the Sub-Administration and Accounting Agreement (this “Amendment”)
is made as of June 1, 2008 (“Effective Date of Amendment No. 1 to SAAA”), and shall amend
the Sub-Administration and Accounting Agreement made as of the 28th day of January, 2005
(the “Agreement”) by and between Xxxxxxxx Global Series Trust, a Massachusetts business
trust (the “Trust”), SEI Investments Global Funds Services (the “Administrator”), a
Delaware business trust and Xxxxxxxx Fund Advisors, Inc., a New York Corporation and administrator
to the Trust (“SFA”). Defined terms not defined herein but defined in the Agreement shall
have the meaning given to them in the Agreement.
WHEREAS, the Administrator provides administration and accounting services to the Trust;
WHEREAS, each of the parties to the Agreement now wish to amend the Agreement as provided herein;
and
WHEREAS, Article 13 of the Agreement permits amendment only by an instrument in writing signed by
the party against which enforcement of the change may be sought;
NOW, THEREFORE, for and in consideration of the promises and mutual covenants herein contained, the
parties hereby agree as follows:
| (1) | New Article 27. A new Article 27 is hereby added to the Agreement as follows: | ||
| ARTICLE 27. Special Third Party Valuation Services. The Administrator may, from time to time, provide to the Trust valuation services and products (“Special Third Party Valuation Services”) from any third-party pricing vendors selected by the Administrator, the Investment Manager or the Trust (“Special Third Party Valuation Vendors”). The Trust acknowledges and agrees that the Special Third Party Valuation Services are confidential and proprietary trade secrets of the Special Third Party Valuation Vendors. Accordingly, the Trust shall honor reasonable written requests by the Administrator and the Special Third Party Valuation Vendors to protect their proprietary rights in their data, information and property including reasonable written requests that the Trust place copyright notices or other proprietary legends on printed matter, print outs, tapes, disks, film or any other medium of dissemination. The Trust further acknowledges and agrees that all Special Third Party Valuation Services are provided on an “AS IS WITH ALL FAULTS” basis solely for such Trust’s internal use in connection with the receipt of the Services. The Trust may use Special Third Party Valuation Services as normally required on view-only screens and hard copy statements, reports and other documents necessary to support such Trust’s investors, however the Trust shall not distribute any Special Third Party Valuation Services to other third parties. THE SPECIAL THIRD PARTY VALUATION VENDORS AND THE ADMINISTRATOR MAKE NO WARRANTIES, EXPRESS OR IMPLIED, AS TO MERCHANTABILITY, FITNESS FOR A PARTICULAR USE, OR ANY OTHER MATTER WITH RESPECT TO ANY OF THE SPECIAL THIRD PARTY SERVICES. EXCEPT AS OTHERWISE PROVIDED IN ARTICLE 5 OF THE AGREEMENT, NEITHER THE ADMINISTRATOR NOR THE SPECIAL THIRD PARTY VALUATION VENDORS SHALL BE LIABLE FOR ANY DAMAGES SUFFERED BY THE TRUST IN THE USE OF ANY OF THE SPECIAL THIRD PARTY VALUATION SERVICES PROVIDED PURSUANT TO THIS ARTICLE 27, INCLUDING, WITHOUT LIMITATION, LIABILITY FOR ANY INCIDENTAL, CONSEQUENTIAL OR SIMILAR DAMAGES. |
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| (2) | Schedule B. Schedule B is hereby deleted in its entirety and replaced as set forth in Attachment 1 hereto. | ||
| (3) | Ratification of Agreement. Except as expressly amended and provided herein, all of the terms, conditions and provisions of the Agreement are hereby ratified and confirmed to be of full force and effect, and shall continue in full force and effect. | ||
| (4) | Multiple Originals. This Amendment may be executed in two or more counterparts, each of which when so executed shall be deemed to be an original, but such counterparts shall together constitute but one and the same instrument. | ||
| (5) | Binding Effect. This Amendment, and the rights and obligations of the parties hereunder, shall be binding on, and inure to the benefit of, the parties and their respective permitted successors and assigns. | ||
| (6) | Governing Law. This Amendment shall be governed by and construed in accordance with the laws of the State of Delaware and the applicable provisions of the 1940 Act. To the extent that the applicable laws of the State of Delaware, or any of the provisions herein, conflict with the applicable provisions of the 1940 Act, the latter shall control. |
[Signature page follows]
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A copy of the 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 by the
Trustees or officers of the Trust on behalf of the Trust as Trustees or officers and not
individually and that the obligations of this Amendment 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.
IN WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment as of the date
first written above.
SEI INVESTMENTS GLOBAL FUNDS SERVICES
By: Name: |
/s/ Xxxxxxx X. Xxxxx
|
|||
Title:
|
President & CEO |
XXXXXXXX GLOBAL SERIES TRUST
By: Name: |
/s/ Xxxx X. Xxxxxx
|
|||
Title:
|
Treasurer |
XXXXXXXX FUND ADVISORS INC.
By: Name: |
/s/ Xxxx X. Xxxxxx
|
|||
Title:
|
Director |
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ATTACHMENT 1
SCHEDULE B
TO THE SUB-ADMINISTRATION AND ACCOUNTING AGREEMENT
DATED AS OF JANUARY 28, 2005,
AMENDED AS OF JUNE 1, 2008
DATED AS OF JANUARY 28, 2005,
AMENDED AS OF JUNE 1, 2008
BETWEEN
XXXXXXXX GLOBAL SERIES TRUST
XXXXXXXX FUND ADVISORS INC.
AND
SEI INVESTMENTS GLOBAL FUNDS SERVICES
XXXXXXXX GLOBAL SERIES TRUST
XXXXXXXX FUND ADVISORS INC.
AND
SEI INVESTMENTS GLOBAL FUNDS SERVICES
| Portfolios: | This Agreement shall apply with respect to all portfolios of the Trust, either now
existing or in the future created (collectively, the “Portfolios”). The following is
a list of the current Portfolios of the Trust: 1. XXXXXXXX NORTH AMERICAN EQUITY FUND |
| Fees: | Commencing as of June 1, 2008, each Portfolio shall pay the
Administrator its pro rata portion of the following fees, calculated
based upon the aggregate average daily net assets of all portfolios
listed above as follows: 0.013% on the first $1 billion of average daily net assets 0.005% on average daily net assets in excess of $1 billion This fee schedule is subject to a cumulative minimum annual fee for the Portfolios listed above in the amount of $50,000 for all such portfolios and classes. The minimum fee shall be increased for each Portfolio added to this agreement as follows: $50,000 for each Portfolio that invests primarily in domestic securities and $70,000 for each Portfolio that invests primarily in international securities. The minimum fee shall be increased for each new class added to any Portfolio of the Trust after the date of this Amendment, as follows: $12,500 for each new class added to a Portfolio that invests primarily in domestic securities and $17,000 for each new class added to a Portfolio that invests primarily in international securities. The minimum fee shall be decreased if any Portfolio is fully liquidated after the date of this Amendment, as follows: $50,000 for each Portfolio that invests primarily in domestic securities and $70,000 for each Portfolio that invests primarily in international securities. The minimum fee shall be decreased if any class of a Portfolio is fully liquidated after the date of this Amendment, as follows: $12,500 for each class that invests primarily in domestic securities and $17,000 for each class that invests primarily in international securities. |
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Notwithstanding the foregoing, under no circumstances will the
minimum annual fee be less than $50,000 for all portfolios and
classes in existence during the term of the Agreement, as amended.
| Term: | The Agreement became effective on January 28, 2005 and, as hereby amended, shall remain in effect through October 31, 2010 (“Initial Term”) and, thereafter, shall automatically renew for successive two (2) year terms, unless and until this Agreement is terminated by a party in accordance with the provisions of Article 6 of the Agreement. |
[END OF SCHEDULE B]
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