Exhibit (h)(10)
ADMINISTRATION AGREEMENT
AGREEMENT dated as of November 1, 2003, between COLUMBIA FUNDS TRUST I, a
Massachusetts business trust (the "Trust"), with respect to Columbia Tax-Managed
Value Fund (the "Fund"), and COLUMBIA MANAGEMENT ADVISORS, INC., an Oregon
corporation (the "Administrator").
In consideration of the promises and covenants herein, the parties agree as
follows:
1. Subject to the general direction and control of the Board of Trustees of
the Trust, the Administrator shall perform such administrative services as
may from time to time be reasonably requested by the Trust, which shall
include without limitation: (a) providing office space, equipment and
clerical personnel necessary for maintaining the organization of the Fund
and for performing the administrative functions herein set forth; (b)
arranging, if desired by the Trust, for Directors, officers and employees
of the Administrator to serve as Trustees, officers or agents of the Fund
if duly elected or appointed to such positions and subject to their
individual consent and to any limitations imposed by law; (c) preparation
of agendas and supporting documents for and minutes of meetings of
Trustees, committees of Trustees and shareholders; (d) coordinating and
overseeing the activities of the Fund's other third-party service
providers; (e) maintaining books and records of the Fund (exclusive of
records required by Section 31(a) of the 0000 Xxx); and (f) monitoring the
tax-efficiency of the Fund. Notwithstanding the foregoing, the
Administrator shall not be deemed to have assumed or have any
responsibility with respect to functions specifically assumed by any
transfer agent or custodian of the Fund.
2. The Administrator shall be free to render similar services to others so
long as its services hereunder are not impaired thereby.
3. The Fund shall pay the Administrator monthly a fee at the annual rate of
0.05% of the average daily net assets of the Fund.
4. This Agreement shall become effective as of the date of its execution, and
may be terminated without penalty by the Board of Trustees of the Trust or
by the Administrator, in each case on sixty days' written notice to the
other party.
5. This Agreement may be amended only by a writing signed by both parties.
6. In the absence of willful misfeasance, bad faith or gross negligence on the
part of the Administrator, or reckless disregard of its obligations and
duties hereunder, the Administrator shall not be subject to any liability
to the Trust or Fund, to any shareholder of the Trust or the Fund or to any
other person, firm or organization, for any act or omission in the course
of, or connected with, rendering services hereunder.
COLUMBIA FUNDS TRUST I
on behalf of Columbia Tax-Managed Value Fund
By: /s/ Xxxxxx X. Xxxxxxx
____________________________
Xxxxxx X. Xxxxxxx
President
COLUMBIA MANAGEMENT ADVISORS, INC.
By: /s/ Xxxxxx X. Xxxxxxx
_____________________________
Xxxxxx X. Xxxxxxx
Executive Vice President and Chief Operating Officer
A copy of the document establishing the Trust is filed with the Secretary of The
Commonwealth of Massachusetts. This Agreement is executed by officers not as
individuals and is not binding upon any of the Trustees, officers or
shareholders of the Trust individually but only upon the assets of the Fund.
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