AMENDED AND RESTATED TRANSFER AGENT SERVICING AGREEMENT
AMENDED AND RESTATED
THIS AGREEMENT is made and entered into as of this 30th day of January, 2018, by and between GPS FUNDS I (“GPS I”), GPS FUNDS II (“GPS II”), SAVOS INVESTMENT TRUST (“SAVOS” and together with GPS I, GPS II referred to as the “Trust”), each separately and not jointly, and U.S. BANCORP FUND SERVICES, LLC, a Wisconsin limited liability company (“USBFS”).
WHEREAS, the Trust and USBFS hereto entered into a Transfer Agent Servicing Agreement (the “Prior Agreement”) (i) dated March 16, 2006,
between GPS I and USBFS, (ii) dated March 31, 2011, between GPS II and USBFS, and (iii) dated February 20, 2007, between SAVOS and USBFS, as amended from time to time, and desire to amend and restate the Prior Agreement in its entirety as set forth
herein.
WHEREAS, the Trust is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment
company, and is authorized to issue shares of beneficial interest in separate series, with each such series representing interests in a separate portfolio of securities and other assets;
WHEREAS, USBFS is, among other things, in the business of administering transfer and dividend disbursing agent functions for the benefit of
its customers; and
WHEREAS, the Trust desires to retain USBFS to provide transfer and dividend disbursing agent services to each series of the Trust listed on
Exhibit A hereto (as amended from time to time) (each a “Fund” and collectively, the “Funds”).
NOW, THEREFORE, in consideration of the promises and mutual covenants herein contained, and other good and valuable
consideration, the receipt of which is hereby acknowledged, the parties hereto, intending to be legally bound, do hereby agree as follows:
1. |
Appointment of USBFS as Transfer Agent
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The Trust hereby appoints USBFS as transfer agent of the Trust on the terms and conditions set forth in this Agreement, and USBFS hereby
accepts such appointment and agrees to perform the services and duties set forth in this Agreement. The services and duties of USBFS shall be confined to those matters expressly set forth herein, and no implied duties are assumed by or may be
asserted against USBFS hereunder.
2. |
Services and Duties of USBFS
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USBFS shall provide the following transfer agent and dividend disbursing agent services to the Fund:
A. |
Receive and process all orders for the purchase, exchange, transfer, and/or redemption of Fund shares in accordance with Rule 22c-1 under the 1940 Act,
other applicable regulations, and as specified in the Fund's prospectus (the "Prospectus”).
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B. |
Process purchase and redemption orders with prompt delivery, where appropriate, of payment and supporting documentation to the shareholder based on the
shareholder’s or the Trust’s custodian instructions, and record the appropriate number of shares being held in the appropriate shareholder account.
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C. |
Process redemption requests received in good order and, where relevant, deliver appropriate documentation to the Trust's custodian.
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D. |
Pay proceeds upon receipt from the Trust's custodian, where relevant, in accordance with the instructions of redeeming shareholders.
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E. |
Process transfers of shares in accordance with the shareholder's instructions, after receipt of appropriate documentation from the shareholder as
specified in the Prospectus.
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F. |
Prepare and transmit payments, or apply reinvestments for income dividends and capital gains distributions declared by the Trust with respect to a
Fund, after deducting any amount required to be withheld by any applicable laws, rules and regulations and in accordance with shareholder instructions.
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G. |
Serve as the Fund’s agent in connection with systematic plans including, but not limited to, systematic investment plans, systematic withdrawal plans,
and systematic exchange plans.
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H. |
Make changes to shareholder records, including, but not limited to, address and plan changes (e.g., systematic investment and withdrawal, dividend
reinvestment).
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I. |
Handle load and multi-class processing, including rights of accumulation and purchases by letters of intent in accordance with the Prospectus.
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J. |
Record the issuance of shares of each Fund and maintain, pursuant to Rule 17Ad-10(e) promulgated under the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), a record of the total number of shares of each Fund which are authorized, issued and outstanding.
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K. |
Prepare ad-hoc reports as necessary at prevailing rates.
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L. |
Mail shareholder reports and Prospectuses to current shareholders.
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M. |
Prepare and file U.S. Treasury Department Forms 1099 and other appropriate information returns required with respect to dividends and distributions for
all shareholders.
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N. |
Provide shareholder account information upon shareholder or Trust requests and prepare and mail confirmations and statements of account to shareholders
for all purchases, redemptions and other confirmable transactions as agreed upon with the Trust.
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O. |
Mail and/or obtain shareholders’ certifications under penalties of perjury and pay on a timely basis to the appropriate federal or state authorities
any taxes to be withheld on dividends and distributions paid by the Trust, all as required by applicable federal and state tax laws and regulations.
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P. |
Answer correspondence from shareholders, securities brokers and others relating to USBFS’ duties hereunder within required time periods established by
applicable regulation.
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Q. |
Reimburse the Fund for all material losses resulting from “as of” processing errors for which USBFS is responsible in accordance with the “as of” processing guidelines
set forth on Exhibit B hereto.
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R. |
Calculate average assets held in shareholder accounts for purposes of paying Rule 12b-1 and/or shareholder servicing fees as directed by a Fund
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S. |
Provide service and support to financial intermediaries including but not limited to trade placements, settlements, and corrections.
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3. |
Lost Shareholder Due Diligence Searches and Servicing
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The Trust hereby acknowledges that USBFS has an arrangement with an outside vendor to conduct lost shareholder searches required by Rule
17Ad-17 under the Securities Exchange Act of 1934, as amended. Costs associated with such searches will be passed through to the Trust as a miscellaneous expense in accordance with the fee schedule set forth in Exhibit C hereto. If a shareholder remains lost and the shareholder’s account unresolved after completion of the mandatory Rule 17Ad-17 search, the Trust hereby authorizes vendor to
enter, at its discretion, into fee sharing arrangements with the lost shareholder (or such lost shareholder’s representative or executor) to conduct a more in-depth search in order to locate the lost shareholder before the shareholder’s assets
escheat to the applicable state. The Trust hereby acknowledges that USBFS is not a party to these arrangements and does not receive any revenue sharing or other fees relating to these arrangements. Furthermore, the Trust hereby acknowledges that
vendor may receive up to 35% of the lost shareholder’s assets as compensation for its efforts in locating the lost shareholder.
4. |
Anti-Money Laundering and Red Flag Identity Theft Prevention Programs
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The Trust acknowledges that it has had an opportunity to review, consider and comment upon the written procedures provided by USBFS
describing various tools used by USBFS which are designed to promote the detection and reporting of potential money laundering activity and identity theft by monitoring certain aspects of shareholder activity as well as written procedures for
verifying a customer’s identity (collectively, the “Procedures”). Further, the Trust and USBFS have each determined that the Procedures, as part of the Trust’s overall Anti-Money Laundering Program and Red Flag Identity Theft Prevention Program, are
reasonably designed to: (i) prevent each Fund from being used for money laundering or the financing of terrorist activities; (ii) prevent identity theft; and (iii) achieve compliance with the applicable provisions of the Bank Secrecy Act, Fair and
Accurate Credit Transactions Act of 2003 and the USA Patriot Act of 2001 and the implementing regulations thereunder.
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Based on this determination, the Trust hereby instructs and directs USBFS to implement the Procedures on the Trust’s behalf, as such may be
amended or revised from time to time. It is contemplated that these Procedures will be amended from time to time by the parties as additional regulations are adopted and/or regulatory guidance is provided relating to the Trust’s anti-money
laundering and identity theft responsibilities.
USBFS agrees to provide to the Trust:
(a) |
Prompt written notification of any transaction or combination of transactions that USBFS believes, based on the Procedures, evidence money laundering
or identity theft activities in connection with the Trust or any Fund shareholder;
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(b) |
Prompt written notification of any customer(s) that USBFS reasonably believes, based upon the Procedures, to be engaged in money laundering or identity
theft activities, provided that the Trust agrees not to communicate this information to the customer;
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(c) |
Any reports received by USBFS from any government agency or applicable industry self-regulatory organization pertaining to USBFS’ Anti-Money Laundering
Program or the Red Flag Identity Theft Prevention Program on behalf of the Trust;
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(d) |
Prompt written notification of any action taken in response to anti-money laundering violations or identity theft activity as described in (a), (b) or
(c) immediately above; and
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(e) |
Certified annual and quarterly reports of its monitoring and customer identification activities pursuant to the Procedures on behalf of the Trust.
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The Trust hereby directs, and USBFS acknowledges, that USBFS shall (i) permit federal regulators access to such information and records
maintained by USBFS and relating to USBFS’ implementation of the Procedures, on behalf of the Trust, as they may request, and (ii) permit such federal regulators to inspect USBFS’ implementation of the Procedures on behalf of the Trust.
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5. |
Compensation
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USBFS shall be compensated for providing the services set forth in this Agreement in accordance with the fee schedule set forth on Exhibit C hereto (as amended from time to time). USBFS shall also be reimbursed for such miscellaneous expenses as set forth on Exhibit C hereto as are reasonably incurred by USBFS in performing its duties hereunder. USBFS shall also be compensated for any increases in costs due to the adoption of any new or
amended industry, regulatory or other applicable rules. GPS I, GPS II and SAVOS each shall pay separately all such fees and reimbursable expenses allocated by USBFS pursuant to the terms of this Agreement and the fee schedule set forth on Exhibit C hereto to each of their separate series of portfolios within 30 calendar days following receipt of the billing notice, except for any fee or expense
subject to a good faith dispute. The Trust shall notify USBFS in writing within 30 calendar days following receipt of each invoice if the Trust is disputing any amounts in good faith. The Trust shall pay such disputed amounts within 10 calendar days
of the day on which the parties agree to the amount to be paid, if any. With the exception of any fee or expense the Trust is disputing in good faith as set forth above, unpaid invoices shall accrue a finance charge of 1½% per month after the due
date. Notwithstanding anything to the contrary, amounts owed by the Trust to USBFS shall only be paid out of assets and property of the particular Fund involved.
6. |
Representations and Warranties
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A. |
The Trust hereby represents and warrants to USBFS, which representations and warranties shall be deemed to be continuing throughout the term of this Agreement, that:
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(1) |
It is duly organized and existing under the laws of the jurisdiction of its organization, with full power to carry on its business as now conducted, to enter into this
Agreement and to perform its obligations hereunder;
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(2) |
This Agreement has been duly authorized, executed and delivered by the Trust in accordance with all requisite action and constitutes a valid and legally binding
obligation of the Trust, enforceable in accordance with its terms, subject to bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting the rights and remedies of creditors and secured parties;
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(3) |
It is conducting its business in compliance in all material respects with all applicable laws and regulations, both state and federal, and has obtained all regulatory
approvals necessary to carry on its business as now conducted; there is no statute, rule, regulation, order or judgment binding on it and no provision of its charter, bylaws or any contract binding it or affecting its property which would
prohibit its execution or performance of this Agreement; and
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(4) |
A registration statement under the 1940 Act and the Securities Act of 1933, as amended, will be made effective prior to the effective date of this Agreement and will
remain effective during the term of this Agreement, and appropriate state securities law filings will be made prior to the effective date of this Agreement and will continue to be made during the term of this Agreement as necessary to
enable the Trust to make a continuous public offering of its shares.
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(5) |
All records of the Trust (including, without limitation, all shareholder and account records) provided to USBFS by the Trust or by a prior transfer
agent of the Trust are accurate and complete and USBFS is entitled to rely on all such records in the form provided.
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B. |
USBFS hereby represents and warrants to the Trust, which representations and warranties shall be deemed to be continuing throughout the term of this Agreement, that:
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(1) |
It is duly organized and existing under the laws of the jurisdiction of its organization, with full power to carry on its business as now conducted, to enter into this
Agreement and to perform its obligations hereunder;
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(2) |
This Agreement has been duly authorized, executed and delivered by USBFS in accordance with all requisite action and constitutes a valid and legally binding obligation
of USBFS, enforceable in accordance with its terms, subject to bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting the rights and remedies of creditors and secured parties;
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(3) |
It is conducting its business in compliance in all material respects with all applicable laws and regulations, both state and federal, and has obtained all regulatory
approvals necessary to carry on its business as now conducted; there is no statute, rule, regulation, order or judgment binding on it and no provision of its charter, bylaws or any contract binding it or affecting its property which would
prohibit its execution or performance of this Agreement; and
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(4) |
It is a registered transfer agent under the Exchange Act.
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7. |
Standard of Care; Indemnification; Limitation of Liability
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A. |
USBFS shall exercise reasonable care in the performance of its duties under this Agreement. USBFS shall not be liable for any error of judgment or
mistake of law or for any loss suffered by the Trust in connection with its duties under this Agreement, including losses resulting from mechanical breakdowns or the failure of communication or power supplies beyond USBFS’ control, except a
loss arising out of or relating to USBFS’ refusal or failure to comply with the terms of this Agreement (other than where such compliance would violate applicable law) or from its bad faith, negligence, or willful misconduct in the
performance of its duties under this Agreement. Notwithstanding any other provision of this Agreement, if USBFS has exercised reasonable care in the performance of its duties under this Agreement, the Trust shall indemnify and hold
harmless USBFS from and against any and all claims, demands, losses, expenses, and liabilities of any and every nature (including reasonable attorneys' fees) that USBFS may sustain or incur or that may be asserted against USBFS by any
person arising out of any action taken or omitted to be taken by it in performing the services hereunder (i) in accordance with the foregoing standards, or (ii) in reliance upon any written or oral instruction provided to USBFS by any duly
authorized officer of the Trust, as approved by the Board of Trustees of the Trust (the “Board of Trustees”), except for any and all claims, demands, losses, expenses, and liabilities arising out of or relating to USBFS’ refusal or failure
to comply with the terms of this Agreement or from its bad faith, negligence or willful misconduct in the performance of its duties under this Agreement. This indemnity shall be a continuing obligation of the Trust, its successors and
assigns, notwithstanding the termination of this Agreement. As used in this paragraph, the term “USBFS” shall include USBFS’ directors, officers and employees.
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USBFS shall indemnify and hold the Trust harmless from and against any and all claims, demands, losses, expenses, and liabilities of any and
every nature (including reasonable attorneys' fees) that the Trust may sustain or incur or that may be asserted against the Trust by any person arising out of any action taken or omitted to be taken by USBFS as a result of USBFS’ refusal or failure
to comply with the terms of this Agreement, or from its bad faith, negligence, or willful misconduct in the performance of its duties under this Agreement. This indemnity shall be a continuing obligation of USBFS, its successors and assigns,
notwithstanding the termination of this Agreement. As used in this paragraph, the term “Trust” shall include the Trust’s trustees, officers and employees.
Neither party to this Agreement shall be liable to the other party for (i) consequential, special or punitive damages under any provision of
this Agreement; or (ii) any delay by reason of circumstances beyond its reasonable control, including acts of civil or military authority, national emergences, labor difficulties, fire, mechanical breakdown, flood or catastrophe, acts of God,
insurrection, war, riots, or failure beyond its reasonable control of transportation or power supply.
In the event of a mechanical breakdown or failure of communication or power supplies beyond its control, USBFS shall take all reasonable
steps to minimize service interruptions for any period that such interruption continues. USBFS will make every reasonable effort to restore any lost or damaged data and correct any errors resulting from such a breakdown at the expense of USBFS.
USBFS agrees that it shall, at all times, have reasonable business continuity and disaster recovery contingency plans with appropriate parties, making reasonable provision for emergency use of electrical data processing equipment to the extent
appropriate equipment is available. Representatives of the Trust shall be entitled to inspect USBFS’ premises and operating capabilities at any time during regular business hours of USBFS, upon reasonable notice to USBFS. Moreover, USBFS shall
provide the Trust, at such times as the Trust may reasonably require, copies of reports rendered by independent accountants on the internal controls and procedures of USBFS relating to the services provided by USBFS under this Agreement.
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Notwithstanding the above, USBFS reserves the right to reprocess and correct administrative errors at its own expense.
B. |
In order that the indemnification provisions contained in this section shall apply, it is understood that if in any case the indemnitor may be asked to
indemnify or hold the indemnitee harmless, the indemnitor shall be fully and promptly advised of all pertinent facts concerning the situation in question, and it is further understood that the indemnitee will use all reasonable care to
notify the indemnitor promptly concerning any situation that presents or appears likely to present the probability of a claim for indemnification. The indemnitor shall have the option to defend the indemnitee against any claim that may be
the subject of this indemnification. In the event that the indemnitor so elects, it will so notify the indemnitee and thereupon the indemnitor shall take over complete defense of the claim, and the indemnitee shall in such situation
initiate no further legal or other expenses for which it shall seek indemnification under this section. The indemnitee shall in no case confess any claim or make any compromise in any case in which the indemnitor will be asked to indemnify
the indemnitee except with the indemnitor’s prior written consent.
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C. |
The indemnity and defense provisions set forth in this Section 7 shall indefinitely survive the termination and/or assignment of this Agreement.
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D. |
If USBFS is acting in another capacity for the Trust pursuant to a separate agreement, nothing herein shall be deemed to relieve USBFS of any of its
obligations in such other capacity.
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8. |
Data Necessary to Perform Services
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The Trust or its agent shall furnish to USBFS the data necessary to perform the services described herein at such times and in such form as
mutually agreed upon.
9. |
Proprietary and Confidential Information
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USBFS agrees on behalf of itself and its directors, officers, and employees to treat confidentially and as proprietary information of the
Trust, all records and other information relative to the Trust and prior, present, or potential shareholders of the Trust (and clients of said shareholders), and not to use such records and information for any purpose other than the performance of
its responsibilities and duties hereunder, except (i) after prior notification to and approval in writing by the Trust, which approval shall not be unreasonably withheld and may not be withheld where USBFS may be exposed to civil or criminal contempt
proceedings for failure to comply, (ii) when requested to divulge such information by duly constituted authorities, or (iii) when so requested by the Trust. Records and other information which have become known to the public through no wrongful act
of USBFS or any of its employees, agents or representatives, and information that was already in the possession of USBFS prior to receipt thereof from the Trust or its agent, shall not be subject to this paragraph.
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Further, USBFS will adhere to the privacy policies adopted by the Trust pursuant to Title V of the Xxxxx-Xxxxx-Xxxxxx Act, as may be
modified from time to time. In this regard, USBFS shall have in place and maintain physical, electronic and procedural safeguards reasonably designed to protect the security, confidentiality and integrity of, and to prevent unauthorized access to or
use of, records and information relating to the Trust and its shareholders.
10. |
Records
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USBFS shall keep records relating to the
services to be performed hereunder in the form and manner, and for such period, as it may deem advisable and is agreeable to the Trust, but not inconsistent with the rules and regulations of appropriate government authorities, in particular, Section 31 of the 1940 Act and the rules thereunder. USBFS agrees that all such records prepared or maintained by USBFS relating to the services to be
performed by USBFS hereunder are the property of the Trust and will be preserved, maintained, and made available in accordance with such applicable sections and rules of the 1940 Act and will be promptly surrendered to the Trust or its designee on
and in accordance with its request. However, USBFS may keep copies as necessary to comply with regulatory requirements.
11. |
Compliance with Laws
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The Trust has and retains primary responsibility for all compliance matters relating to the Fund, including but not limited to compliance
with the 1940 Act, the Internal Revenue Code of 1986, the Xxxxxxxx-Xxxxx Act of 2002, the USA Patriot Act of 2001 and the policies and limitations of the Fund relating to its portfolio investments as set forth in its Prospectus and statement of
additional information. USBFS’ services hereunder shall not relieve the Trust of its responsibilities for assuring such compliance or the Board of Trustee’s oversight responsibility with respect thereto.
12. |
Reserved
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13. |
Term of Agreement; Amendment
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This Agreement shall become effective as of the date first written above. This Agreement may be terminated by either party upon giving 90
days prior written notice to the other party or such shorter notice period as is mutually agreed upon by the parties. Notwithstanding the foregoing, this Agreement may be terminated by any party upon the breach of the other party of any material
term of this Agreement if such breach is not cured within 15 days of notice of such breach to the breaching party. This Agreement may not be amended or modified in any manner except by written agreement executed by USBFS and the Trust, and
authorized or approved by the Board of Trustees.
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14. |
Duties in the Event of Termination
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In the event that, in connection with the termination of this Agreement, a successor to any of USBFS’ duties or responsibilities hereunder
is designated by the Trust by written notice to USBFS, USBFS will promptly, upon such termination and at the expense of the Trust, transfer to such successor all relevant books, records, correspondence, and other data established or maintained by
USBFS under this Agreement in a form reasonably acceptable to the Trust (if such form differs from the form in which USBFS has maintained the same, the Trust shall pay any expenses associated with transferring the data to such form), and will
cooperate in the transfer of such duties and responsibilities, including provision for assistance from USBFS’s personnel in the establishment of books, records, and other data by such successor. The Trust shall also pay any fees associated with
record retention and/or tax reporting obligations that may not be eliminated due to a conversion to a successor provider. If no such successor is designated, then such books, records and other data shall be returned to the Trust
15. Assignment
This Agreement shall extend to and be binding upon the parties hereto and their respective successors and assigns; provided, however, that
this Agreement shall not be assignable by the Trust without the written consent of USBFS, or by USBFS without the written consent of the Trust accompanied by the authorization or approval of the Trust’s Board of Trustees.
16. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of Wisconsin, without regard to
conflicts of law principles. To the extent that the applicable laws of the State of Wisconsin, or any of the provisions herein, conflict with the applicable provisions of the 1940 Act, the latter shall control, and nothing herein shall be construed
in a manner inconsistent with the 1940 Act or any rule or order of the Securities and Exchange Commission thereunder.
17. No Agency Relationship
Nothing herein contained shall be deemed to authorize or empower either party to act as agent for the other party to
this Agreement, or to conduct business in the name, or for the account, of the other party to this Agreement.
18. Services Not Exclusive
Nothing in this Agreement shall limit or restrict USBFS from providing services to other parties that are similar or identical to some or
all of the services provided hereunder.
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19. Invalidity
Any provision of this Agreement which may be determined by competent authority to be prohibited or unenforceable in any jurisdiction shall,
as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. In such case, the parties shall in good faith modify or substitute such provision consistent with the original intent of the parties.
20. Notices
Any notice required or permitted to be given by
either party to the other shall be in writing and shall be deemed to have been given on the date delivered personally or by courier service, or three
days after sent by registered or certified mail, postage prepaid, return receipt requested, or on the date sent and confirmed received by facsimile transmission to the other party’s address set forth below:
Notice to USBFS shall be sent to:
U.S. Bancorp Fund Services, LLC
000 Xxxx Xxxxxxxx Xxxxxx
Xxxxxxxxx, XX 00000
Attn: President
and notice to the Trust shall be sent to:
AssetMark, Inc.
0000 Xxxxx Xxxxxx, 00xx Xxxxx
0000 Xxxxx Xxxxxx, 00xx Xxxxx
Xxxxxxx, XX 00000
21. Multiple Originals
This Agreement may be executed on two or more counterparts, each of which when so executed shall be deemed to be an original, but such
counterparts shall together constitute but one and the same instrument.
(Signatures on the following page)
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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by a duly authorized officer on one or
more counterparts as of the date first above written.
GPS FUNDS I
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GPS FUNDS II
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By:
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/s/ Xxxxxx X. Xxxxxx
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By:
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/s/ Xxxxxx X. Xxxxxx
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Name:
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Xxxxxx X. Xxxxxx
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Name:
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Xxxxxx X. Xxxxxx
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Title:
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President
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Title:
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President
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SAVOS INVESTMENT TRUST
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U.S. BANCORP FUND SERVICES, LLC
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By:
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/s/ Xxxxxx X. Xxxxxx
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By:
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/s/ Xxxxxx Xxxxxxxxx
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Name:
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Xxxxxx X. Xxxxxx
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Name:
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Xxxxxx Xxxxxxxxx
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Title:
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President
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Title:
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President
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Exhibit A
to the
Separate Series of GPS Funds I
GuideMark Large Cap Core Fund
GuideMark Emerging Markets Fund
GuideMark Small/Mid Cap Core Fund
GuideMark World ex-US Fund
GuideMark Tax-Exempt Fixed Income Fund
GuideMark Core Fixed Income Fund
Separate Series of GPS Fund II
GuidePath Growth Allocation Fund
GuidePath Conservative Allocation Fund
GuidePath Tactical Allocation Fund
GuidePath Absolute Return Allocation Fund
GuideMark Opportunistic Fixed Income Fund
GuidePath Multi-Asset Income Allocation Fund
GuidePath Flexible Income Allocation Fund
GuidePath Managed Futures Strategy Fund
GuidePath Conservative Income Fund
GuidePath Income Fund
GuidePath Growth and Income Fund
Separate Series of Savos Investment Trust
Savos Dynamic Hedging Fund
A-1
Exhibit B
to the
As Of Processing Policy
USBFS will reimburse each Fund for any Net Material Loss that may exist on the Fund’s books and for which USBFS is
responsible, at the end of each calendar month. “Net Material Loss” shall be defined as any remaining loss, after netting losses against any gains, which impacts a Fund’s net asset value per share by at least ½ cent. Gains and losses will be
reflected on the Fund’s daily share sheet, and the Fund will be reimbursed for any Net Material Loss on a monthly basis. USBFS will reset the as of ledger each calendar month so that any losses which do not exceed the materiality threshold of ½ cent
will not be carried forward to the next succeeding month. USBFS will notify the advisor to the Fund on the daily share sheet of any losses for which the advisor may be held accountable.
B-1
Exhibit C to the
GPS Funds I & GPS Funds II & Savos** – Transfer Agent Services Fee Schedule – October 2017
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Shareholder Account Fee (Subject to Minimum)
No-Load - $[ ] per account
Load Fund - $[ ] per account
Money Market - $[ ] per account
The per account fees will be charged monthly from inception.
Annual Minimum*
$[ ] per fund with [ ] class
$[ ] first load or money market fund
Multiple Class Fee* - $[ ] annually for each new class beyond the first class (waived during the first [ ] months
of operations and tiered as listed below for months [ ] through [ ]).
*Minimum annual fee of $[ ] per new fund is waived for each fund during the first [ ] months of operations. After
the first [ ] months, the following tiered minimum annual fee schedule applies during months [ ] through [ ] of operations:
[ ] % of the minimum annual fee in months [ ], [ ] & [ ]
[ ] % of the minimum annual fee in months [ ], [ ] & [ ]
[ ] % of the minimum annual fee in months [ ], [ ] & [ ]
[ ] % of the minimum annual fee in month [ ] and beyond
Chief Compliance Officer Support Services:
$[ ] per GPS trust per year. $[ ] per Savos trust per year.
Implementation Charges:
First CUSIP: $[ ] /fund group (waived)
Subsequent CUSIPs: $[ ] /each additional CUSIP (waived)
Activity Charges:
Telephone Call - $[ ] per call
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Charges Paid by Investors:
Shareholder accounts will be charged based upon the type of activity and type of account, including the following:
Qualified Plan Fees
$[ ] /qualified plan account or Xxxxxxxxx ESA account (Cap at $[ ] /SSN)
$[ ] /transfer to successor trustee
$[ ] /participant distribution (Excluding SWPs)
$[ ] /refund of excess contribution
$[ ] /reconversion/recharacterization
Additional Shareholder Paid Fees
$[ ] /outgoing wire transfer or overnight delivery
$[ ] /telephone exchange
$[ ] /return check or ACH or stop payment
$[ ] /research request per account (Cap at $[ ] /request) (This fee applies to requests for statements older than
the prior year)
Miscellaneous Expenses
All other miscellaneous fees and expenses, including but not limited to the following, will be separately billed as
incurred:
Telephone toll-free lines, mailing, sorting and postage, stationery, envelopes, service/data conversion, AML
verification services, special reports, record retention, lost shareholder search, disaster recovery charges, ACH fees, Fed wire charges, NSCC activity charges, DST charges, shareholder/dealer print out (daily confirms, investor confirms,
tax, check printing and writing and commissions), voice response (VRU) maintenance and development, data communication and implementation charges, specialized programming, omnibus conversions, travel, excess history, FATCA and other
compliance mailings, electronic document archiving.
Additional Services
Additional services not included above shall be mutually agreed upon and documented on the Additional Services fee
schedule.
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C-1
Manual Shareholder Transactions - $[ ] per event
Draft Check Processing - $[ ] per draft
Daily Valuation Trades - $[ ] per trade
ACH Shareholder Services:
$[ ] per month per fund group
$[ ] per ACH item, setup and/or change
$[ ] per correction, reversal, return item
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FAN Web shareholder e-commerce, FAN Mail electronic data delivery, Vision intermediary e-commerce, client Web
data access, recordkeeping application access, programming charges, outbound calling & marketing campaigns, training, cost basis reporting, investor email services, dealer reclaim services, literature fulfillment, money market fund
service organizations, charges paid by investors, physical certificate processing, CUSIP setup, CTI reporting, sales reporting & 22c-2 reporting (MARS), electronic statements (Informa), Fund Source, EConnect Delivery, Shareholder Call
review analysis, statement support, Mutual Fund Profile II services, dealer/fund merger events, NAV reprocessing and additional services mutually agreed upon.
In addition to the fees described above, additional fees may be charged to the extent that changes to applicable
laws, rules or regulations require additional work or expenses related to services provided (e.g., compliance with new liquidity risk management and reporting requirements).
File Transfer - $[ ] per month plus $[ ] /record
If the funds allow direct retail shareholder, the following schedule also applies:
- Additional [ ] basis point per year.
The monthly fee for an open account shall be charged in the month during which an account is opened through the
month in which such account is closed. The monthly fee for a closed account shall be charged in the month following the month during which such account is closed
Fees are calculated pro rata and billed monthly.
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** Each Trust is only liable for the fee amount that gets allocated by USBFS to each of their separate series of portfolios
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