EXHIBIT (H)(16)
AMENDMENT TO
ADMINISTRATION AGREEMENT
This Amendment dated April 1, 2004 (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 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. Schedule A to the Agreement is hereby deleted in its entirety and replaced
with the attached Schedule A.
2. 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/ ▇▇▇▇ ▇. ▇▇▇▇▇ By: /S/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇
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Date: 4/1/04 Date: 4/01/04
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Title: MANAGING DIRECTOR Title: SVP
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SCHEDULE A
LIST OF PORTFOLIOS
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Kobren Growth Fund
Delphi Value Fund
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SCHEDULE B
FEE SCHEDULE
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To the Administration Agreement dated November 15, 1996, as
amended to date, as Revised April 1, 2004
SECTION I
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The following fees are in effect for the Kobren Growth Fund:
ANNUAL FEES
Net assets up to $100 million 6.75 Basis Points
Next $100 million in net assets 3.00 Basis Points
Net assets in excess of $200 million 2.00 Basis Points
Fund Minimum $70,700 per year per Fund
Additional Classes $5,237 per class for any additional
classes beyond the first class
SECTION II
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The following fees are in effect for the Delphi Value Fund:
ANNUAL FEES
Net assets up to $100 million 6.86 Basis Points
Next $100 million in net assets 5.08 Basis Points
Net assets in excess of $200 million 3.56 Basis Points
Fund Minimum $70,700 per year
Additional Classes $5,237 per class for any additional
Classes beyond the first class
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GENERAL
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After the first 12 months from the effective date of this Revised Schedule B,
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 year's
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.
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