Exhibit (e)(1)
DISTRIBUTION AGREEMENT
Each Massachusetts Business Trust (Trust) designated in Appendix 1 from
time to time, acting severally, and Columbia Funds Distributor, Inc.
(CFDI), a Massachusetts corporation, agree effective April 30, 1999, as
amended and restated effective November 1, 2003:
1. APPOINTMENT OF CFDI. Each Trust may offer an unlimited number of separate
investment series (Funds), each of which may have multiple classes of
shares (Shares). Each Trust appoints CFDI as the principal underwriter and
distributor of Shares of Funds designated in Appendix 1 (which appointment
shall be exclusive except as otherwise provided in this Agreement). This
Agreement will apply to each Fund as set forth on Appendix 1 as it may be
amended from time to time.
2. SALE OF SHARES.
a. CFDI'S Right to Purchase Shares from the Fund. CFDI, acting as principal
for its own account and not as agent for each Trust, shall have the right to
purchase Shares and shall sell Shares in accordance with each Fund's prospectus
on a "best efforts" basis. CFDI shall purchase Shares, at a price equal to the
net asset value, only as needed to fill orders. CFDI will receive all sales
charges. CFDI will notify the Trust at the end of each business day of the
Shares of each Fund to be purchased.
b. Appointment of Agent for Certain Sales of Shares at Net Asset Value. The
Trust may at any time designate its shareholder servicing, transfer and dividend
disbursing agent as its agent to accept orders for (i) Class A Shares of the
Funds at net asset value, or (ii) Class I Shares, or (iii) Class Z Shares, in
each case from individuals or entities that are entitled to purchase such shares
as provided in the Trust's prospectus, and to issue Shares directly to such
purchasers.
c. Refusal to Sell Shares; Direct Issue of Shares. The Trust may at any
time (i) refuse to sell Shares hereunder or (ii) issue Shares directly to
shareholders as a stock split or dividend.
3. REDEMPTION OF SHARES. The Trust will redeem in accordance with each Fund's
prospectus all Shares tendered by CFDI pursuant to shareholder redemption
requests. CFDI will notify the Trust at the end of each business day of the
Shares of each Fund tendered.
4. COMPLIANCE. CFDI will comply with applicable provisions of the prospectus of
a Fund and with applicable laws and rules relating to the sale of Shares and
indemnifies each Trust for any damage or expense from unlawful acts by CFDI and
persons acting under its direction or authority.
5. EXPENSES. Each Trust will pay all expenses associated with:
a. the registration and qualification of Shares for sale;
b. shareholder meetings and proxy solicitation;
c. Share certificates;
d. communications to shareholders; and
e. taxes payable upon the issuance of Shares to CFDI.
In connection with the distribution of shares of the Funds, CFDI will be
entitled to receive payments pursuant to any Distribution Plan and related
agreement from time to time in effect between any Trust and CFDI with respect to
a Fund or any particular class of shares of a Fund, (b) any contingent deferred
sales charges applicable to the redemption of shares of a Fund or of any
particular class of shares of a Fund, determined in the manner set forth in the
then current Prospectus and Statement of Additional Information of that Fund,
and (c) any applicable front-end sales charges applicable to the sale of shares
of a Fund or of any particular class of shares of a Fund, less any applicable
dealer discount.
CFDI will pay all expenses associated with advertising and sales literature
including those of printing and distributing prospectuses and shareholder
reports, proxy materials and other shareholder communications used as sales
literature.
6. CONTINUATION, AMENDMENT OR TERMINATION.
a. This Agreement (i) supersedes and replaces any contract or agreement
relating to the subject matter hereof in effect prior to the date hereof, (ii)
shall continue in effect only so long as specifically approved at least annually
by the Trustees or shareholders of the Trust and (iii) may be amended at any
time by written agreement of the parties, each in accordance with the Act.
b. This Agreement (i) shall terminate immediately upon the effective date
of any later dated agreement relating to the subject matter hereof, and (ii) may
be terminated upon 60 days notice without penalty by a vote of the Trustees or
by CFDI or otherwise in accordance with the Act and will terminate immediately
in the event of assignment (as defined under the Act). Upon termination the
obligations of the parties under this Agreement shall cease except for
unfulfilled obligations and liabilities arising prior to termination. All
notices shall be in writing and delivered to the office of the other party.
7. AGREEMENT AND DECLARATION OF TRUST. A copy of the document establishing each
Trust is filed with the Secretary of The Commonwealth of Massachusetts. As to
each Trust, this Agreement is executed by officers not as individuals and is not
binding upon any of the Trustees, officers or shareholders of such Trust
individually but only upon the assets of such Trust.
Agreed:
EACH TRUST DESIGNATED IN APPENDIX 1 COLUMBIA FUNDS DISTRIBUTOR, INC.
By: ____________________ By: ____________________
Xxxxxx X. Xxxxxxx, Name:
President of each Trust Title:
APPENDIX 1
TRUST SERIES
Columbia Funds Trust I
Columbia High Yield Opportunity Fund
Columbia Strategic Income Fund
Columbia Tax-Managed Growth Fund
Columbia Tax-Managed Growth Fund II
Columbia Tax-Managed Value Fund
Columbia Tax-Managed Aggressive Growth Fund
Columbia Funds Trust II
Columbia Newport Japan Opportunities Fund
Columbia Newport Greater China Fund
Columbia Money Market Fund
Columbia Funds Trust III
Columbia Mid Cap Value Fund
Columbia Liberty Fund
Columbia Global Equity Fund
Columbia Contrarian Income Fund
Columbia Intermediate Government Income Fund
Columbia Quality Plus Bond Fund
Columbia Corporate Bond Fund
Columbia Federal Securities Fund
Columbia Funds Trust IV
Columbia Tax-Exempt Fund
Columbia Tax-Exempt Insured Fund
Columbia Utilities Fund
Columbia Municipal Money Market Fund
Columbia Funds Trust V
Columbia California Tax-Exempt Fund
Columbia Connecticut Tax-Exempt Fund
Columbia Massachusetts Tax-Exempt Fund
Columbia New York Tax-Exempt Fund
Columbia Large Company Index Fund
Columbia U.S. Treasury Index Fund
Columbia Small Company Index Fund
Columbia Intermediate Tax-Exempt Bond Fund
Columbia Massachusetts Intermediate Municipal Bond Fund
Columbia Connecticut Intermediate Municipal Bond Fund
Columbia New Jersey Intermediate Municipal Bond Fund
Columbia New York Intermediate Municipal Bond Fund
Columbia Rhode Island Intermediate Municipal Bond Fund
Columbia Florida Intermediate Municipal Bond Fund
Columbia Pennsylvania Intermediate Municipal Bond Fund
Columbia Funds Trust VI
Columbia Growth & Income Fund
Columbia Small Cap Value Fund
Columbia Newport Asia Pacific Fund
Columbia Funds Trust VII
Columbia Newport Tiger Fund
Columbia Europe Fund
By: ___________________________
Xxxxxx X. Xxxxxxx,
President of each Trust
COLUMBIA FUNDS DISTRIBUTOR, INC.
By: ___________________________
Name:
Title:
Dated: November 1, 2003
