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EX-99.B9(b)(1)
AMENDMENT NO. 1
TO THE ADMINISTRATION AGREEMENT
This Amendment is made as of this 16th day of December, 1996 to the
Administration Agreement between SBSF Funds, Inc. (d/b/a Key Mutual Funds) (the
"Company"), on behalf of Key Stock Index Fund and Key International Index Fund
of the Company (each a "Fund" and, collectively, the "Funds"), and BISYS Fund
Services Limited Partnership (d/b/a BISYS Fund Services) (the "Administrator"),
an Ohio limited partnership (herein called "BISYS"), dated as of July 1, 1996,
(the "Agreement").
WHEREAS, the Agreement provides for the Administrator to act as
administrator for the Funds of the Company; and
WHEREAS, Section VI of the Agreement provides that the Administration
Agreement may be amended only by an instrument in writing;
WHEREAS, the Company desires that the Administrator serve as such with
respect to three additional funds of the Company and the Administrator is
willing to furnish such services;
NOW, THEREFORE, the parties agree as follows:
1. The Company hereby appoints and constitutes the Administrator as
administrator for the additional funds referred to below, and the
Administrator accepts such appointments and agrees to perform the
duties set forth in the Agreement with respect to the additional
portfolios which are as follows: KeyChoice Growth Fund, KeyChoice
Moderate Growth Fund and KeyChoice Income and Growth Fund.
2. Schedule I to the Agreement is hereby amended and restated to include
KeyChoice Growth Fund, KeyChoice Moderate Growth Fund and KeyChoice
Income and Growth Fund.
3. Paragraph 6 of the Agreement is hereby amended and restated to read as
follows:
6. COMPENSATION. For the services provided and the
expenses assumed as Administrator pursuant to this Section II,
the Company will pay BISYS a fee, computed daily and payable
monthly, at the annual rate of .15% of the average daily net
assets of the Key Stock Index Fund and the Key International
Index Fund, and .01% of the average daily net assets of the
KeyChoice Growth Fund, KeyChoice Moderate Growth Fund and
KeyChoice Income and
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Growth Fund, or $12,000 per Fund per year, whichever is
greater. Such fee as is attributable to each Fund shall be a
separate (and not joint or joint and several) obligation of
each such Fund. No individual Fund shall have any
responsibility for any obligation, if any, with respect to any
other Fund arising out of this Agreement.
4. In all other respects the Agreement is confirmed.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to
the Agreement to be executed by their duly authorized Officers as of the day and
year first above written.
SBSF Funds, Inc.
d/b/a Key Mutual Funds
By: /s/Xxxxx X. Xxxxxxxxx
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Name: Xxxxx X. Xxxxxxxxx
Title: Vice President and Assistant
Secretary
BISYS FUND SERVICES
LIMITED PARTNERSHIP
d/b/a BISYS FUND SERVICES
By: /s/J. Xxxxx Xxxxx
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Name: J. Xxxxx Xxxxx
Title:
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