LETTER AGREEMENT
Investment Company Capital Corp.
Xxx Xxxxx Xxxxxx
Xxxxxxxxx, XX 00000
September 1, 2000
Flag Investors Funds, Inc.
Flag Investors Portfolios Trust
Xxx Xxxxx Xxxxxx
Xxxxxxxxx, XX 00000
RE: Fee Schedule for Sub-Administration Services
Dear Sirs:
In regards to the Administration Services Appendix to the Master
Services Agreement dated September 1, 2000 (the "Agreement") (i) between Flag
Investors Portfolios Trust and Investment Company Capital Corp. ("ICCC") and
(ii) between Flag Investors Funds, Inc. and ICCC, each party to the Agreement
agrees the sub-administration fee schedule will be as follows:
Annual Asset Based Fees per Hub
First $200 Million in Net Assets 2.5 Basis Points*
Next $800 Million in Net Assets 2.0 Basis Points*
Above $1 Billion in Net Assets 1.0 Basis Points*
Annual Minimum Per Hub $50,000
Offshore Fund Administration Annual Fee Per Hub $2,500
* The basis point fee is based on all assets.
o Regarding 1940 Act Spokes, the above fee schedule assumes: quarterly
distributions on bond funds; semi-annual distributions on equity funds;
quarterly RIC compliance testing; financial statements are printed in
English.
o Regarding offshore Spokes, the above fee schedule assumes: no
distributions, no monitoring for compliance with local regulations and tax
code; annual financial statement preparation; annual Board of Directors
meeting; financial statements are printed in English.
o The above fees apply to the complex of 7 Hub funds and 13 Spoke Funds (6 US
Spokes and 7 Cayman Registered Spokes).
Very truly yours,
INVESTMENT COMPANY CAPITAL CORP.
By: /s/ XXXXXXX X. XXXX
-------------------
Name: Xxxxxxx X. Xxxx
Title: President
ACCEPTED AND CONFIRMED:
FLAG INVESTORS PORTFOLIOS TRUST FLAG INVESTORS FUNDS, INC.
By: /s/ XXX X. XXXXXX By: /s/ XXX X. XXXXXX
----------------- -----------------
Name: Xxx X. Xxxxxx Name: Xxx X. Xxxxxx
Title: Secretary Title: Secretary
