Exhibit h(5)
AMENDMENT AGREEMENT
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(Deutsche Asset Management VIT Funds
(f/k/a BT Insurance Funds Trust) Administration Agreement)
THIS AMENDMENT is made as of March 1, 2001 (the "Effective Date"), by and
between PFPC INC. (f/k/a First Data Investor Services Group, Inc.), a
Massachusetts corporation ("PFPC") and DEUTSCHE ASSET MANAGEMENT VIT FUNDS
(f/k/a BT Insurance Funds Trust), a Massachusetts business trust (the "Trust").
Recitals
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WHEREAS, the Trust is a registered investment company for which PFPC
provides administration services pursuant to an Administration Agreement, dated
December 10, 1998 as amended to date (the "Original Agreement").
WHEREAS, in addition to the services described in the Original Agreement,
the Trust desires that PFPC provide the Trust's service providers with Internet
access to certain fund portfolio data using PFPC DataStation ("DataStation"),
all in accordance with the terms of this Agreement; and
WHEREAS, the Trust and PFPC desire to amend the Original Agreement to
provide for such services and corresponding fees.
NOW, THEREFORE, in consideration of the foregoing premises and for other
good and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, PFPC and the Trust, intending to be legally bound hereby, agree as
follows.
1. Amendments to Original Agreement.
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(a) All references to "First Data Investor Services Group, Inc." and
"Investor Services Group" are deleted and replaced with "PFPC Inc." and "PFPC"
respectively.
(b) All references to "BT Insurance Funds Trust" are deleted and replaced
with "Deutsche Asset Management VIT Funds".
(c) The Original Agreement is hereby amended to add a Section 3(n), which
shall read in full as follows:
"3(n) PFPC DataStation Access Services. PFPC shall provide to the
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Trust the DataStation Internet access services as set forth on Exhibit
A attached hereto and made a part hereof, as such Exhibit A may be
amended from time to time. Persons who are Trust "Authorized Persons"
to access DataStation are set forth
on Exhibit B attached hereto and made a part hereof, as such Exhibit B
may be amended from time to time.
(d) Exhibit A and Exhibit B are hereby added to the Original Agreement to
read in full as set forth in such Exhibits to this Agreement.
2. Miscellaneous.
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(a) Except as specifically amended herein, and except as necessary to
conform to the intention of the parties hereinabove set forth, the Original
Agreement shall remain unaltered and in full force and effect and is hereby
ratified and confirmed. In the event of a conflict between the terms hereof and
the Original Agreement, as to the Internet services, this Agreement shall
control.
(b) This Agreement, together with its Exhibits, constitutes the complete
understanding and agreement of the parties with respect to the subject matter
hereof and supercedes all prior communications with respect thereto.
IN WITNESS WHEREOF, the parties hereto have set their hands by their duly
authorized representatives as of the year and date first above indicated.
DEUTSCHE ASSET MANAGEMENT VIT FUNDS
By: /s/ Xxxxxx Xxxxxxxx
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Name: Xxxxxx Xxxxxxxx
Title: Assistant Treasurer
PFPC INC.
By: /s/ Xxxxxxx X. Xxxxx
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Name: Xxxxxxx X. Xxxxx
Title: Executive Vice President
EXHIBIT A
DataStation Access Services
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THIS EXHIBIT A, dated as of March 1, 2001 is Exhibit A to the Administration
Agreement dated December 10, 1998, as amended to date (the "Agreement") between
Deutsche Asset Management VIT Funds (the "Trust") and PFPC Inc. ("PFPC"). This
Exhibit A shall supersede all previous forms of Exhibit A to the Agreement as of
the date hereof.
1. PFPC Services
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(a) Provide Internet access to PFPC DataStation ("DataStation") at
xxx.xxxxxxxxxxxxxxx.xxx (the "Site") for Fund portfolio data otherwise
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supplied by PFPC to Trust service providers via other electronic and
manual methods (the "Services"). Types of information to be provided
on the Site include: (i) data relating to portfolio securities, (ii)
general ledger balances, and (iii) net asset value-related data (NAV
and net asset, distribution and yield detail).
(b) Supply each of the Authorized Persons specified on Exhibit B as
permissible users of Datastation (the "Users") with a logon ID and
Password;
(c) Provide to Users access to the information listed in (a) above using
standard inquiry tools and reports. Users will be able to modify
standard inquiries to develop user-defined inquiry tools; however,
PFPC will review computer costs for running user-defined inquiries and
may assess surcharges for those requiring excessive hardware
resources. In addition, costs for developing custom reports or
enhancements are not included in the fees set forth below and will be
negotiated and billed separately.
(d) Utilize a form of encryption that is generally available to the public
in the U.S. for standard Internet browsers and establish, monitor and
verify firewalls and other security features (commercially reasonable
for this type of information and these types of users) and exercise
commercially reasonable efforts to attempt to maintain the security
and integrity of the Site; and
(e) Monitor the telephone lines involved in providing the Services and
inform the Trust promptly of any malfunctions or service
interruptions.
2. Duties of the Trust and the Users
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(a) Provide and maintain a web browser supporting Secure Sockets Layer
128-bit encryption; and
(b) Keep logon IDs and passwords confidential and notify PFPC immediately
in the event that a logon ID or password is lost, stolen or if you
have reason to believe that the logon ID and password are being used
by an unauthorized person.
3. Standard of Care; Limitations of Liability
---------------------------------------------
(a) Notwithstanding anything to the contrary contained in the Agreement or
this Exhibit A, PFPC shall be liable for direct damages incurred by the
Trust and which arising out of PFPC's failure to perform its duties and
obligations described in this Exhibit A to the extent such damages
constitute willful misfeasance, bad faith, gross negligence or reckless
disregard of its duties and obligations under this Exhibit A.
(b) The Trust acknowledges that the Internet is an "open," publicly
accessible network and not under the control of any party. PFPC's
provision of Services is dependent upon the proper functioning of the
Internet and services provided by telecommunications carriers, firewall
providers, encryption system developers and others. The Trust agrees that
PFPC shall not be liable in any respect for the actions or omissions of
any third party wrongdoers (i.e., hackers not employed by such party or
its affiliates) or of any third parties involved in the Services and
shall not be liable in any respect for the selection of any such third
party, unless that selection constitutes a breach of PFPC's standard of
care above.
(c) Without limiting the generality of the foregoing or any other provisions
of this Exhibit A or the Agreement, PFPC shall not be liable for delays
or failures to perform any of the Services or errors or loss of data
occurring by reason of circumstances beyond such party's control,
including acts of civil or military authority, national emergencies,
labor difficulties, fire, flood, catastrophe, acts of God, insurrections,
war, riots or failure of the mails, transportation, communication or
power supply, functions or malfunctions of the Internet or
telecommunications services, firewalls, encryption systems or security
devices caused by any of the above, or laws or regulations imposed after
the date of this Exhibit.
4. Fees for DataStation Services.
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PFPC shall be entitled to the following fee for the DataStation Services set
forth above: $110.00 per month per portfolio. Monthly fees for additional
portfolios will be negotiated separately. Fees do not include access to
automated portfolio compliance module or any other applications appended to
the core application. Fees for any such modules will be billed additionally.
Fees for the development of customized functions or reporting will be
negotiated and billed separately.
5. Duration, Termination and Changes to Terms.
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(a) PFPC shall have the right at any time to review and propose changes to
the terms and fees described in this Agreement. Such changes will become
effective and bind the parties only upon written agreement of the
parties.
(b) Either party may terminate this Agreement upon sixty (60) days prior
written notice to the other. Any outstanding fees must be paid before
this Agreement terminates.
6. Miscellaneous. In the event of a conflict between specific terms of this
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Exhibit A and the Agreement, this Exhibit A shall control as to the Internet
Services.
DEUTSCHE ASSET PFPC INC.
MANAGEMENT VIT FUNDS
By: /s/ Xxxxxx Xxxxxxxx By: /s/ Xxxxxxx X. Xxxxx
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Name: Xxxxxx Xxxxxxxx Name: Xxxxxxx X. Xxxxx
Title: Assistant Treasurer Title: Executive Vice President
EXHIBIT B
DataStation Authorized Persons
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THIS EXHIBIT B, dated as of March 1, 2001 is Exhibit B to the Administration
Agreement dated December 10, 1998, as amended to date (the "Agreement") between
Deutsche Asset Management VIT Funds (the "Trust") and PFPC Inc. ("PFPC"). This
Exhibit B shall supersede all previous forms of Exhibit B to the Agreement as of
the date hereof.
The following individuals shall be Trust Authorized Persons to access PFPC
DataStation:
Name Company or Firm Signature
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Xxxxxx Xxxxxxxx Deutsche Asset Management /s/ Xxxxxx Xxxxxxxx
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Xxxxx Xxxxxxxx Deutsche Asset Management /s/ Xxxxx Xxxxxxxx
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Xxxxx XxXxxxxx Deutsche Asset Management /s/ Xxxxx XxXxxxxx
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Xxxx Xxxxxxxxx Deutsche Asset Management /s/ Xxxx Xxxxxxxxx
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Xxxxxxx Xxxxxx Deutsche Asset Management /s/ Xxxxxxx Xxxxxx
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Xxxxx Xxxxxxx Deutsche Asset Management /s/ Xxxxx Xxxxxxx
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DEUTSCHE ASSET PFPC INC.
MANAGEMENT VIT FUNDS
By: /s/ Xxxxxx Xxxxxxxx By: /s/ Xxxxxxx X. Xxxxx
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Name: Xxxxxx Xxxxxxxx Name: Xxxxxxx X. Xxxxx
Title: Assistant Treasurer Title: Executive Vice President
