SHAREHOLDER SERVICE PLAN AND AGREEMENT
SEI DAILY INCOME TRUST
CLASS E SHARES
SEI Daily Income Trust (the "Trust") is an open-end investment company
registered under the Investment Company Act of 1940, as amended, and currently
consisting of a number of separately managed Funds (the "Funds"). The Trust
desires to retain SEI Investments Distribution Co. (the "Distributor"), a
Pennsylvania corporation, to itself provide or to compensate service providers
who themselves provide, the services described herein to clients (the "Clients")
who from time to time beneficially own Class E Shares ("Shares") of any Fund of
the Trust. The Distributor is willing to itself provide or to compensate service
providers for providing, such administrative services in accordance with the
terms and conditions of this Agreement.
SECTION 1. The Distributor will provide, or will enter into written agreements
in the form attached hereto with service providers pursuant to which the service
providers will provide, one or more of the following administrative services to
Clients who may from time to time beneficially own Shares:
(i) maintaining accounts relating to Clients that invest in
Shares;
(ii) providing information periodically to Clients showing their
positions in Shares;
(iii) arranging for bank wires;
(iv) responding to Client inquiries relating to the services
performed by the Distributor or any service provider;
(v) responding to inquiries from Clients concerning their
investments in Shares;
(vi) forwarding shareholder communications from the Trust (such as
proxies, shareholder reports, annual and semi-annual
financial statements and dividend, distribution and tax
notices) to Clients;
(vii) processing purchase, exchange and redemption requests from
Clients and placing such orders with the Trust or its service
providers;
(viii) assisting Clients in changing dividend options, account
designations, and addresses;
(ix) providing subaccounting with respect to Shares beneficially
owned by Clients;
(x) processing dividend payments from the Trust on behalf of the
Clients; and
(xi) providing such other similar services as the Trust may,
through the Distributor, reasonably request to the extent that
the Service Provider is permitted to do so under applicable
laws or regulations.
SECTION 2. The Distributor will provide all office space and equipment,
telephone facilities and personnel (which may be part of the space, equipment
and facilities currently used in the Distributor's business, or any personnel
employed by the Distributor) as may be reasonably necessary or beneficial in
order to fulfill its responsibilities under this Agreement.
SECTION 3. Neither the Distributor nor any of its officers, employees, or agents
is authorized to make any representations concerning the Trust or the Shares
except those contained in the Trust's then-current prospectus or Statement of
Additional Information for the Shares, copies of which will be supplied to the
Distributor, or in such supplemental literature or advertising as may be
authorized in writing.
SECTION 4. For purposes of this Agreement, the Distributor and each service
provider will be deemed to be independent contractors, and will have no
authority to act as agent for the Trust in any matter or in any respect. By its
written acceptance of this Agreement, the Distributor agrees to and does
release, indemnify, and hold the Trust harmless from and against any and all
direct or indirect liabilities or losses resulting from requests, directions,
actions, or inactions of or by the Distributor or its officers, employees, or
agents regarding the Distributor's responsibilities under this Agreement, the
provision of the aforementioned services to Clients by the Distributor or any
service provider, or the purchase, redemption, transfer, or registration of
Shares (or orders relating to the same) by or on behalf of Clients. The
Distributor and its officers and employees will, upon request, be available
during normal business hours to consult with representatives of the Trust or its
designees concerning the performance of the Distributor's responsibilities under
this Agreement.
SECTION 5. In consideration of the services and facilities to be provided by
the Distributor or any service provider, each Fund that has issued Class E
Shares will pay to the Distributor a fee, as agreed from time to time, at an
annual rate of up to 0.25% (twenty-five basis points) of the average net
asset value of all Class E Shares of each Fund, which fee will be computed
daily and paid monthly. The Trust may, in its discretion and without notice,
suspend or withdraw the sale of Class E Shares of any Fund, including the
sale of Class E Shares to any service provider for the account of any Client
or Clients. The Distributor may waive all or any portion of its fees from
time to time.
SECTION 6. The Trust may enter into other similar servicing agreements with any
other person or persons without the Distributor's consent.
SECTION 7. By its written acceptance of this Agreement, the Distributor
represents, warrants, and agrees that the services provided by the Distributor
under this Agreement will in no event be primarily intended to result in the
sale of Shares.
SECTION 8. This Agreement will become effective on the date a fully executed
copy of this Agreement is received by the Trust or its designee and shall
continue until terminated by either
party. This Agreement is terminable with respect to the Class E Shares of any
Fund, without penalty, at any time by the Trust or by the Distributor upon
written notice to the Trust.
SECTION 9. All notices and other communications to either the Trust or to the
Distributor will be duly given if mailed, telegraphed, telefaxed, or transmitted
by similar communications device to the appropriate address stated herein, or to
such other address as either party shall so provide the other.
SECTION 10. This Agreement will be construed in accordance with the laws of the
Commonwealth of Pennsylvania and may not be "assigned" by either party thereto
as that term is defined in the Investment Company Act of 1940.
SECTION 11. References to the "SEI Daily Income Trust," the "Trust," and the
"Trustees" of the Trust refer respectively to the Trust created and the Trustees
as trustees, but not individually or personally, acting from time to time under
the Declaration of Trust of the Trust dated March 15, 1982, a copy of which is
on file with the Office of the Secretary of State of the Commonwealth of
Massachusetts and at the Trust's principal office. The obligations of the Trust
entered into in the name or on behalf thereof by any of the Trustees, officers,
representatives, or agents are made not individually, but in such capacities,
and are not binding upon any of the Trustees, shareholders, officers,
representatives, or agents of the Trust personally. Further, the obligations of
the Trust with respect to any one Fund shall not be binding upon any other Fund.
By their signatures, the Trust and the Distributor agree to the terms of this
Agreement.
SEI Daily Income Trust SEI Investments Distribution Co.
By:___________________ By:_____________________
Name: ________________ Name: __________________
Title: _________________ Title: ___________________
