AMENDMENT TO CUSTODIAN AGREEMENT
Agreement made by and between State Street Bank and Trust Company (the
"Custodian") and LPT Variable Insurance Series Trust (the "Fund").
WHEREAS, the Custodian and the Fund are parties to a Custodian Agreement
dated September 13, 1995 (the "Custodian Agreement") governing the terms and
conditions under which the Custodian maintains custody of the securities and
other assets of the Fund; and
WHEREAS, the Custodian and the Fund desire to amend the terms and
conditions under which the Custodian maintains the Fund's securities and other
non-cash property in the custody of certain foreign sub-custodians in conformity
with the requirements of Rule 17f-5 under the Investment Company Act of 1940, as
amended;
NOW THEREFORE, in consideration of the premises and covenants contained
herein, the Custodian and the Fund hereby amend the Custodian Agreement by the
addition of the following terms and provisions;
1. Notwithstanding any provisions to the contrary set forth in the
Custodian Agreement, the Custodian may hold securities and other non-cash
property for all of its customers, including the Fund, with a foreign
sub-custodian in a single account that is identified as belonging to the
Custodian for the benefit of its customers, provided however, that (i) the
records of the Custodian with respect to securities and other non-cash property
of the Fund which are maintained in such account shall identify by book-entry
those securities and other non-cash property belonging to the Fund and (ii) the
Custodian shall require that securities and other non-cash property so held by
the foreign sub-custodian be held separately from any assets of the foreign
sub-custodian or of others.
2. Except as specifically superseded or modified herein, the terms and
provisions of the Custodian Agreement shall continue to apply with full force
and effect.
IN WITNESS WHEREOF, each of the parties has caused this instrument to be
executed as a sealed instrument in its name and behalf by its duly authorized
representative this 7th day of February, 1996.
LPT VARIABLE INSURANCE SERIES TRUST
By: /S/ Xxxxxx Xxxxxxxxx
------------------------
Title: Treasurer
STATE STREET BANK AND TRUST COMPANY
By: \S\ Xxxx Xxxxxx
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Title: Senior Vice President
Exhibit 0
XXXXX XXXXXX XXXX AND TRUST COMPANY
GLOBAL CUSTODY AND ACCOUNTING FEE SCHEDULE
FOR
LONDON PACIFIC LIFE & ANNUITY COMPANY
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I. GLOBAL CUSTODY
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Maintain custody of fund assets. Settle portfolio purchases and sales.
Report buy and sell fails. Determine and collect portfolio income. Make
cash disbursements and report cash transactions in local and base currency.
Withhold foreign taxes. File foreign tax reclaims. Monitor corporate
actions.
Report portfolio positions.
A. Country Grouping
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Group A Group B Group C Group D Group E Group F
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USA Austria Australia Denmark Indonesia Argentina
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Canada Belgium Finland Malaysia Bangladesh
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Euroclear Hong Kong France Philippines Brazil
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Germany Netherlands Ireland Portugal Chile
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Japan New Zealand Italy South Korea China
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U.K. Singapore Luxembourg Spain Columbia
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Switzerland Mexico Sri Lanka Cypress
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Norway Sweden Greece
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Thailand Taiwan Hungary
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India
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Pakistan
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Peru
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Turkey
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Uruguay
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Venezuela
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GLOBAL CUSTODY AND ACCOUNTING FEE SCHEDULE PAGE 2
FOR
LONDON PACIFIC LIFE & ANNUITY COMPANY
B. Transaction Charges
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Group A Group B Group C Group D Group E Group F
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State Street Bank $25 $40 $45 $50 $100
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Repos or Euros - N/C
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DTC or Fed Book
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Entry - $10.00
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All other - $25.00
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C. Holdings Charges in Basis Points (Annual Fee)
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Group A Group B Group C Group D Group E Group F
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1.0 5.0 6.0 10.0 25.0 40.0
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II. MULTICURRENCY ACCOUNTING
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Maintain investment ledgers in local and base currency, provide selected
portfolio transactions, position and income reports. Maintain general
ledger and capital stock accounts in compliance with GAAP (FAS 52). Prepare
daily trial balance. Calculate net asset value daily. Provide selected
general ledger reports in multicurrency detail. Provide selected general
ledger reports in multicurrency detail. Securities yield or market value
quotations will be provided to State Street via State Street's Automated
Pricing System (See Section III) or by the fund.
U.S. Portfolios Global Portfolios
--------------- -----------------
First Month $0 $0
Second Month $0 $0
Third Month $500 $1,000
Fourth Month $500 $1,000
Fifth Month $1,000 $1,500
Sixth Month and thereafter $2,000 $3,000
GLOBAL CUSTODY AND ACCOUNTING FEE SCHEDULE PAGE 3
FOR
LONDON PACIFIC LIFE & ANNUITY COMPANY
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III. NAVIGATOR AUTOMATED PRICING
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Monthly Base Charge $100.00
Monthly Quote Charge
Municipal Bonds via Xxxxx / S&P or Xxxxxx Data $16.00
Corporate, Municipal, Convertible, Government Bonds and Adjustable Rate
Preferred Stocks Via IDSI $13.00
Government, Corporate Bonds via Xxxxx / S&P or Xxxxxx $11.00
Government, Corporate and Convertible Bonds via Xxxxxxx Xxxxx $11.00
Foreign Bonds via Extel $10.00
Options, Futures and Private Placements $6.00
Listed Equities (including International) and OTC Equities $6.00
For billing purposes, the monthly quote charge will be based on the average
number of positions in the portfolio at month end.
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IV. SPECIAL SERVICES
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Fees for activities of a non-recurring nature such as fund consolidations
or reorganizations, extraordinary security shipments and the preparation of
special reports will be subject to negotiation. Fees for SEC yield
calculation, fund administration activities, self directed securities
lending transactions, XxXxXx financial reporting, multiple class and core /
feeder accounting, and other special items will be negotiated separately.
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V. OUT-OF-POCKET EXPENSES
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A billing for the recovery of applicable out-of-pocket expenses will be
made as of the end of each month. Out-of-pocket expenses include, but are
not limited to the following:
- Telephone - Transfer Fees
- Wire Charges ($5.25 in and $5 out) - Price Waterhouse Audit Letter
- Postage and Insurance - Federal Reserve Fee for Return Check Items
- Courier Service Over $2,500 ($4.25 each)
- Duplicating - GNMA Transfer ($15 each)
- Legal Fees - PTC Deposit / Withdrawal for same day
- Supplies Related to Fund Records turnaround ($50 each)
- Rush Transfer ($8 each) - Subcustodian charges
Schedule A
The following foreign banking institutions and foreign securities
depositories have been approved by the Board of Trustees of LPT Variable
Insurance Series Trust for use as sub-custodians for the Fund's securities and
other assets:
COUNTRY SUBCUSTODIAN CENTRAL DEPOSITORY
------- ------------ ------------------
Argentina Citibank, N.A. Caja de Valores S.A.
Australia Westpac Banking Corporation Austraclear Limited;
Reserve Bank Information and
Transfer System (RITS)
Austria GirCredit Bank Oesterreichische
Aktiengesellschaft Kontrollbank AG
de Sparkassen (Wertpapiersammelbank Division)
Bangladesh Standard Chartered Bank None
Belgium Generale Bank Caisse Interprofessionnelle de Depots et de
Virements de Titres S.A. (CIK);
Banque Nationale de Belgique
Botswana Barclays Bank of Botswana Limited None
Brazil Citibank, N.C. Bolsa de Valores de Sao Paulo (Bovespa);
Banco Central do Brasil, Systema Especial
de Liquidacao e Custodia (SELIC)
Canada Canada Trustco The Canadian Depository
Mortgage Company for Securities Limited (CDS)
Chile Citibank, N.A. None
People's Republic of China The Hongkong and Shanghai Shanghai Securities Central
Banking Corporation Limited, Clearing and Registration
Shanghai and Shenzhen branches Corporation (SSCCRC);
Shenzhen Securities Registrars Co., Ltd.
and its designated agent banks.
Columbia Cititrust Colombia S.A. None
Sociedad Fiduciaria
Cyprus Barclays Bank PLC None
Czech Republic Ceskosloveska Obchodnf Bank, A.S. Stredisko cennych papiru (SCP);
COUNTRY SUBCUSTODIAN CENTRAL DEPOSITORY
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Denmark Den Danske Bank Vaeridipapircentralen - The Danish
Securities Center (VP)
Egypt National Bank of Egypt None
Finland Xxxxxx Bank Limited The Central Share Register of Finland
France Banque Paribas Societe Interprofessionnelle pour la
Compensation des Valeurs
Mobilieres (SICOVAM);
Banque de France, Saturne System
Germany BHF-Bank Aktiengesellschaft The Deutscher Kassenverein AG
Ghana Barclays Bank of Ghana Limited None
Greece National Bank of Greece S.A. The Central Securities Depository
(Apothetirion Titlon A.E.)
Hong Kong Standard Chartered Bank The Central Clearing and Settlement
System (CCASS)
Hungary Citibank Budapest Rt. The Central Depository and Clearing House
(Budapest) Ltd. (XXXXXX Ltd.)
India Deutsche Bank AG None
Indonesia Standard Chartered Bank None
Ireland Bank of Ireland None;
The Central Bank of Ireland, The Gilt
Settlement Office (GSO)
Israel Bank Hapoalim B.M. The Clearing House of the Tel Aviv
Stock Exchange
Italy Xxxxxx Guaranty Trust Company Monte Titoli S.p.A.;
Banca d'Italia
Japan The Daiwa Bank, Limited Japan Securities Depository
Center (JASDEC);
Bank of Japan Net System
The Sumitomo Trust Japan Securities Depository Center (JASDEC);
& Banking Co., Ltd.
Bank of Japan Net System
COUNTRY SUBCUSTODIAN CENTRAL DEPOSITORY
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Jordan The Britisch Bank of the Middle East None
Kenya Barclays Bank of Kenya Limited None
Republic of Korea SEOULBANK Korea Securities Depository (KSD)
Malaysia Standard Chartered Bank Malaysian Central Depository Sdn.
Malaysia Berhad Bhd. (MCD)
Mauritius The Hongkong and Shanghai None
Banking Corporation Limited
Mexico Citibank Mexico, S.A. S.D. INDEVAL, S.A. de C.V.
(Instituto para el Deposito de Valores);
Banco de Mexico
Morocco Banque Commerciale du Maroc None
Netherlands MeesPierson N.V. Nederlands Centraal Instituut voor
Giraal Effectenverkeer B.V. (NECIGEF)
New Zealand ANZ Banking Group None;
(New Zealand) Limited
The Reserve Bank of New Zealand,
Austraclear NZ
Norway Christiania Bank og Kreditkasse Verdipapirsentralen - The Norwegian
Registry of Securities (VPS)
Pakistan Deutsch Bank AG None
Peru Citibank, N.A. Caja de Valores (CAVAL)
Philippines Standard Chartered Bank None
Poland Citibank Poland S.A. The National Depository of Securities
(Centrum Krajowego Depozytu
Papierow Wartoschiowych)
Portugal Banco Comercial Portugues Central de Valores Mobiliarios (Central)
Singapore The Development Bank The Central Depository (Pte) Limited (CDP)
of Singapore Ltd.
Slovak Republic Ceskoslovenska Obchodna Banka A.S. Stredisko cennych papierov (SCP);
National Bank of Slovakia
South Africa Standard Bank of South Africa None
Limited
COUNTRY SUBCUSTODIAN CENTRAL DEPOSITORY
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Spain Banco Santander, S.A. Servicio de Compensacion y
Liquidacion de Valores, S.A. (SCLV);
Banco de Espana, Anotaciones en Cuenta
Sri Lanka The Hongkong and Shanghai Central Depository System (Pvt) Limited
Banking Corporation Limited
Swaziland Barclays Bank of Swaziland Limited None
Sweden Skandinaviska Enskilda Vardepapperscentralen VPC AB, The
Banken Swedish Central Securities Depository
Switzerland Union Bank of Switzerland Schweizerische Effeketen - Giro AG (SEGA)
Taiwan - R.O.C. Central Trust of China The Taiwan Securities Central Depository
Company, Ltd. (TSCD)
Thailand Standard Chartered Bank Thailand Securities Depository Company
Limited (TSD)
Turkey Citibank, N.A. Istanbul Stock Exchange Settlement and Custody
Co., Inc. (I.M.K.B. Takas ve Saklama A.S.)
United Kingdom State Street Bank and Trust Company None;
The Bank of England, The Central Gilts Office
(CGO); The Central Money Markets
Office (CMO)
Uruguay Citibank, N.A. None
Venezuela Citibank, N.A. None
Zambia Barclays Bank of Zambia Limited None
Zimbabwe Barclays Bank of Zimbabwe Limited None
Euroclear (The Euroclear System) / State Street London Limited
Cedel (Cedel Bank societe anonyme) / State Street London Limited
Certified:
\S\ Xxxxxx Xxxxxxxxx
--------------------
Fund's Authorized Officer
Date:
January 9, 1996
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