AMENDMENT NO. 1
TO
ADMINISTRATION AGREEMENT
AMENDMENT NO. 1, made as of the 22nd day of February, 2000, to the
Administration Agreement dated as of the 1st day of May, 1998 (the "Agreement"),
by and between Armada Funds, a Massachusetts business trust (the "Trust"), and
SEI Fund Resources, predecessor to SEI Investments Mutual Funds Services, a
Delaware business trust (the "Administrator").
WHEREAS, the Administrator performs accounting and administrative
services to the Trust pursuant to the terms of the Agreement; and
WHEREAS, Article 11 of the Agreement provides for an initial term of two
years and provides that the parties may agree to renew the Agreement for
subsequent terms unless terminated as provided for by Article 11; and
WHEREAS, by letter dated January 20, 2000, and pursuant to Article 11 of
the Agreement, the Trust informed the Administrator of the decision by the Board
of Trustees of the Trust to terminate the Agreement effective April 30, 2000;
and
WHEREAS, the Trust and the Administrator now wish to continue the
Agreement for an interim period until a new administration agreement is
approved.
NOW, THEREFORE, in consideration of the premises and the covenants
hereinafter contained, the Trust and the Administrator hereby agree as follows:
1. Notwithstanding the notification by the Trust to the Administrator
of the Trust's intent to terminate the Agreement effective April 30, 2000, the
Trust and the Administrator shall continue to fulfill all their obligations in
accordance with the terms the Agreement until May 11, 2000.
IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Amendment No. 1 to the Agreement as of the day and year first written above.
ARMADA FUNDS
By: /s/ XX Xxxxxxx
Attest: /s/ Xxxxx X. Xxxxx
SEI INVESTMENTS MUTUAL FUNDS SERVICES
By: /s/ Xxxxxxx X. Xxxxx
Attest: /s/ Xxxxx Xxxxxxx
