Exhibit (e)(xx) under Form N-1A
Exhibit 1 under Item 601/Reg. S-K
SHAREHOLDER SERVICES AGREEMENT
LETTER AGREEMENT
Manufacturers and Traders Trust Company
Xxx X&X Xxxxx
Xxxxxxx, XX 00000
Federated Administrative Services
0000 Xxxxxxx Xxxxxx
Xxxxxxxxxx, XX 00000-0000
October 24, 2000
Vision Group of Funds
0000 Xxxxxxxxx Xxxxx
Xxxxxxxxxx, XX 00000-0000
Dear Sirs:
MANUFACTURERS AND TRADERS TRUST COMPANY ("M&T") AND FEDERATED
ADMINISTRATIVE SERVICES ("FAS") JOINTLY AGREE TO CONTRACTUALLY WAIVE THE
SHAREHOLDER SERVICES FEE (BASED ON AVERAGE DAILY NET ASSETS) THEY WOULD BE
ENTITLED TO RECEIVE ON THE DESIGNATED CLASS OR FUND LISTED BELOW FOR A ONE YEAR
PERIOD STARTING FROM THE COMMENCEMENT OF EACH FUND'S OPERATIONS (OR, IN THE CASE
OF THE VISION U.S. TREASURY MONEY MARKET FUND, WHEN THIS FUND ACQUIRES THE
ASSETS AND LIABILITIES OF THE GOVERNOR U.S. TREASURY OBLIGATIONS MONEY MARKET
FUND), WHICH IS ANTICIPATED TO OCCUR ON OR ABOUT DECEMBER 18, 2000. SHOWN BELOW
IS THE MAXIMUM AMOUNT OF THE FEE TO WHICH FAS AND M&T ARE ENTITLED, ALONG WITH
THE AMOUNT THEY AGREE TO RECEIVE FOR THE WAIVER PERIOD.
Before After
WAIVER WAIVER
VISION INTERMEDIATE TERM BOND FUND - CLASS A SHARES 0.25% 0.00%
VISION PENNSYLVANIA MUNICIPAL INCOME FUND - CLASS A SHARES 0.25% 0.00%
VISION SMALL CAP STOCK FUND - CLASS A SHARES 0.25% 0.20%
VISION INSTITUTIONAL LIMITED DURATION U.S. GOVERNMENT FUND 0.25% 0.00%
VISION INSTITUTIONAL PRIME MONEY MARKET FUND 0.25% 0.00%
VISION U.S. TREASURY MONEY MARKET FUND - CLASS A SHARES 0.25% 0.00%
VISION LARGE CAP CORE FUND - CLASS A SHARES 0.25% 0.00%
If the foregoing correctly sets forth the agreement between M&T and FAS,
please so indicate by signing and returning to the Trust the enclosed copy
hereof. This may be executed in counterpart.
Very truly yours,
FEDERATED ADMINISTRATIVE SERVICES
By: /S/ XXXXXX X. XXXXXXX
--------------------------------
Name: Xxxxxx X. Xxxxxxx
Title: Secretary
MANUFACTURERS AND TRADERS
TRUST COMPANY
By: /S/ XXXXXXX X. XXXXXXXX
--------------------------------
Name: Xxxxxxx X. Xxxxxxxx
Title: Vice President
ACCEPTED:
VISION GROUP OF FUNDS
By: /S/ XXXXXX X. XXXXXXX
---------------------------
Name: Xxxxxx X. Xxxxxxx
Title: Assistant Secretary
