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EXHIBIT (9)(b)
May 9, 1991
Trust for Federal Securities
Bellevue Park Corporate Center
000 Xxxxxxxx Xxxxxxx, Xxxxx 000
Xxxxxxxxxx, XX 00000
Re: Trust for Federal Securities - Transfer Agency Fees
Gentlemen:
This letter constitutes our agreement, and supersedes any prior
agreement, with respect to compensation to be paid to Provident Financial
Processing Corporation ("PFPC") under the terms of a Transfer Agency Agreement
between you (the "Company") and PFPC dated June 1, 1989, as supplemented by
Addenda Nos. 1 and 2 dated November 1, 1990 and May 9, 1991, respectively, with
respect to the FedFund, T-Fund, FedCash, T-Cash, Federal Trust Fund, Treasury
Trust Fund, Short Government Fund, Intermediate Government Fund and Long
Government Fund portfolios of the Company (the "Funds"). Pursuant to Paragraph
16 of that Agreement, and in consideration of the services to be provided to
you, you will pay PFPC the following:
1. In the case of each account and sub-account in the Funds
maintained by PFPC or a duly designated sub-transfer agent, $12.00 per year;
2. In the case of each purchase or redemption transaction made by an
account in the Funds during the month (other than a purchase transaction made in
connection with the reinvestment of dividends on behalf of a shareholder), $1.00
per transaction; and
3. Payments to PFPC on account of sub-accounting services provided
by others shall not exceed the amount paid by PFPC to others for such services.
The Transfer Agency fees shall be calculated and paid monthly, on basis
of all accounts open during the month for which fees are calculated. The fee for
the period from the day of the year this agreement is entered into until the end
of the year shall be pro-rated according to the proportion which such period
bears to the full annual period.
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Trust for Federal Securities
May 9, 1991
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In addition to the foregoing, you will reimburse PFPC for its payment
of the following expenses: toll-free telephone lines (if required by you),
forms, wire fees for receipts and disbursements, associated costs for installing
and servicing the remote network and terminals, envelopes, checks, postage,
hardware and telephone lines for remote terminals (if required by you),
transcript fees, certificate issuance fees, microfiche and microfilm, and proxy
solicitation expenses (if required by you ). The fees attributable to each Fund
shall be the several (and not joint or joint and several) obligation of each
such Fund.
If the foregoing accurately sets forth our agreement and you intend to
be legally bound thereby, please execute a copy of this letter and return it to
us.
Very truly yours,
PROVIDENT FINANCIAL PROCESSING
CORPORATION
By: /s/ Xxxxx X. Xxxxxx
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Title: Vice President
ACCEPTED: TRUST FOR FEDERAL SECURITIES
By: /s/ Xxxxxx X. Xxxxx
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Title: Vice President & Treasurer
Date: May 9, 1991
