ADMINISTRATION AGREEMENT
ADMINISTRATION AGREEMENT, made this day of February, 2000, between Xxxxxxx
Investment Management Company, LLC ("Xxxxxxx") and Xxxxxxxxxx Investment
Management, LLC ("Xxxxxxxxxx").
W I T N E S S E T H:
WHEREAS, Xxxxxxx is the Investment Adviser to Forward Funds, Inc. (the
"Company"), an open-end investment management company registered under the
Investment Company Act of 1940, as amended; and WHEREAS, Xxxxxxx, with the
approval of the Directors of the Company, has retained Xxxxxxxxxx as sub-adviser
to make the day-to-day investment decisions with respect to the Xxxxxxxxxx U.S.
Equity Fund (the "Fund"), a portfolio of the Company; and WHEREAS, Xxxxxxxxxx
desires to retain Xxxxxxx for certain administrative services and Xxxxxxx is
willing to furnish such administrative services on the terms and conditions
hereinafter set forth.
NOW, THEREFORE, the parties agree as follows:
Xxxxxxxxxx hereby appoints Xxxxxxx to provide the services set forth below, for
the period and on the terms set forth in this Agreement. Xxxxxxx hereby
accepts such appointment and agrees during such period to render the
services herein described and to assume the obligations set forth
herein, for the compensation herein provided.
Xxxxxxx shall provide office facilities and personnel adequate to perform the
following services for Xxxxxxxxxx:
(a) assist in the maintenance of such books and records with
respect to Xxxxxxxxxx'x services to the Fund as are required
by Section 31 of the Investment Company Act of 1940, and the
rules adopted thereunder, and by other applicable legal
provisions, and preservation of such records for the periods
and in the manner required by that Section, and the rules
adopted thereunder;
(b) assist in the furnishing of any information or reports to
regulatory authorities in connection with Xxxxxxxxxx'x
services to the Fund;
(c) assist in the furnishing of whatever statistical information
that the Company may reasonably request with respect to the
Fund's assets or contemplated investments;
(d) assist with the preparation of materials in connection with
Xxxxxxxxxx'x services to the Fund required for inclusion in
the Board Books for the Company's Board of Directors meetings;
and
(e) assist in the preparation of the Company's Registration
Statement or other filings in connection with Xxxxxxxxxx'x
services to the Fund.
All services to be furnished by Xxxxxxx under this Agreement may be furnished
through the medium of any of its directors, officers or employees, or any other
agents.
Xxxxxxxxxx will pay Xxxxxxx a fee at the annual rate of 0.15% of the average
daily net assets of the Fund, payable at the end of each calendar
month.
Xxxxxxx assumes no responsibility under this Agreement other than to render the
services called for hereunder.
Xxxxxxx shall not be liable for any error of judgment or for any loss suffered
by Xxxxxxxxxx in connection with the matters to which this Agreement
relates, except a loss resulting from willful misfeasance, bad faith or
gross negligence on its part in the performance of, or from reckless
disregard by it of its obligations and duties under this Agreement.
This Agreement shall remain in full force and effect until ______ years from
__________, 2000.
This Agreement may be terminated by Xxxxxxxxxx at any time on sixty (60) days'
written notice without payment of penalty.
Any notice or other communication required to be given pursuant to this
Agreement shall be deemed duly given if delivered or mailed by
registered mail, postage prepaid, (1) to Xxxxxxx at 000 Xxxxxxxxxx
Xxxxxx, Xxxxx 0000, Xxx Xxxxxxxxx, Xxxxxxxxxx 00000 or (2) to
Xxxxxxxxxx at 0000 Xxxx Xxxxxx, Xxxxx 0000, Xxxxxx, XX 00000.
This Agreement shall be governed by and construed in accordance with the laws
of the State of Maryland.
IN WITNESS WHEREOF, the parties hereto have caused this instrument to be
executed by their officers designated below as of the day and year first above
written.
XXXXXXX INVESTMENT MANAGEMENT COMPANY, LLC.
By: ____________________________________
XXXXXXXXXX INVESTMENT MANAGEMENT, LLC.
By: ____________________________________
