EXHIBIT (H)(10)
AMENDMENT TO
ADMINISTRATION AGREEMENT
This Amendment dated February 11, 2002 (the "Amendment") is made to
the Administration Agreement dated November 15, 1996 (the "Agreement") by and
between Kobren Insight Funds (the "Company") and PFPC Inc., f/k/a First Data
Investor Services Group, Inc. ("PFPC").
WITNESSETH
WHEREAS, the Company and PFPC reserved to themselves the power to
amend the Agreement in a writing executed by both parties;
WHEREAS, the Company and PFPC wish to amend the Agreement to reflect
changes thereto;
NOW, THEREFORE, the parties hereto, intending to be legally bound,
hereby agree as follows:
1. All references in the Agreement (including any Exhibits and Schedules
thereto) to "First Data Investor Services Group, Inc." and "FDISG" are
hereby deleted and replaced with "PFPC Inc." and "PFPC" respectively.
2. Section 8(a) of the Agreement is hereby deleted and replaced with the
following:
"8. Termination of Agreement.
(a) This Agreement shall be effective until February 1, 2007
(the "Initial Term"), except as otherwise provided herein."
3. Schedule A to the Agreement is hereby deleted in its entirety and replaced
with the attached Schedule A.
4. Schedule B to the Agreement is hereby deleted in its entirety and replaced
with the attached Schedule B.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their duly authorized officers, as of the day and year first above
written.
KOBREN INSIGHT FUNDS PFPC INC.
By: /s/ Xxxx Xxxxx By: /s/ Xxxxxxx X. Xxxxx
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Date: 5/10/02 Date: April 1, 2002
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Title: Managing Director Title: EVP
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Business Approval By: /s/ Xxx X. Xxxxxxxx
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Date: 3/12/02
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Legal Approval By: /s/ X. Xxxxx
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Date: 2/20/02
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SCHEDULE A
LIST OF PORTFOLIOS
Kobren Growth Fund
Kobren Moderate Growth Fund
Delphi Value Fund
SCHEDULE B
FEE SCHEDULE
SECTION I
The following fees are in effect for the Kobren Growth Fund and Kobren Moderate
Growth Fund:
ANNUAL FEES
Net assets up to $100 million 6.75 Basis Points
Next $100 million in net assets 3.0 Basis Points
Net assets in excess of $200 million 2.0 Basis Points
Fund Minimum $67,500 per year per Fund
Additional Classes $5,000 per class for any additional
classes beyond the first class
SECTION II
The following fees are in effect for the Delphi Value Fund:
ANNUAL FEES
Net assets up to $100 million 6.75 Basis Points
Next $100 million in net assets 5.0 Basis Points
Net assets in excess of $200 million 3.5 Basis Points
Fund Minimum $67,500 per year
Additional Classes $5,000 per class for any additional
Classes beyond the first class
GENERAL
After the first 12 months from the effective date of this Amendment, PFPC may
adjust any annual or monthly fees once per calendar year, upon thirty (30) days
prior written notice in an amount not to exceed the previous years cumulative
percentage increase in the Consumer Price Index for All Urban Consumers (CPI-U)
U.S. City Average, All items (unadjusted) - (1982-84=100), published by the U.S
Department of Labor since the last such adjustment in the Client's monthly fees
(or the effective date of this Amendment absent a prior such adjustment).
PFPC reserves the right to renegotiate this Agreement in the event that the
fund family consists of one fund.
