Exhibit (k)(4)
ADMINISTRATION AGREEMENT
AGREEMENT dated as of November 1, 2003, between COLUMBIA FLOATING RATE ADVANTAGE
FUND, a Massachusetts business trust (the "Trust") and COLUMBIA MANAGEMENT
ADVISORS, INC., an Oregon corporation (the "Administrator").
In consideration of the promises and covenants herein, the parties agree as
follows:
1. Subject to the general direction and control of the Board of Trustees of
the Trust, the Administrator shall perform such administrative services as
may from time to time be reasonably requested by the Trust, which shall
include without limitation: (a) providing office space, equipment and
clerical personnel necessary for maintaining the organization of the Trust
and for performing the administrative functions herein set forth; (b)
arranging, if desired by the Trust, for Directors, officers and employees
of the Administrator to serve as Trustees, officers or agents of the Trust
if duly elected or appointed to such positions and subject to their
individual consent and to any limitations imposed by law; (c) preparing
and, if applicable, filing all documents required for compliance by the
Trust with applicable laws and regulations, including registration
statements, registration fee filings, semi-annual and annual reports to
shareholders, proxy statements and tax returns; (d) preparation of agendas
and supporting documents for and minutes of meetings of Trustees,
committees of Trustees and shareholders; (e) coordinating and overseeing
the activities of the Trust's other third-party service providers; and (f)
maintaining books and records of the Trust (exclusive of records required
by Section 31(a) of the 1940 Act). Notwithstanding the foregoing, the
Administrator shall not be deemed to have assumed or have any
responsibility with respect to functions specifically assumed by any
transfer agent or custodian of the Trust.
2. The Administrator shall be free to render similar services to others so
long as its services hereunder are not impaired thereby.
3. The Trust shall pay the Administrator monthly a fee at the annual rate of
0.20% of the Average Daily Managed Assets of the Trust. "Average Daily
Managed Assets of the Trust" shall mean the average daily value of the
total assets of the Trust less all accrued liabilities of the Trust (other
than the aggregate amount of any outstanding borrowings constituting
financial leverage).
4. This Agreement shall become effective as of the date of its execution, and
may be terminated without penalty by the Board of Trustees of the Trust or
by the Administrator, in each case on sixty days written notice to the
other party.
5. This Agreement may be amended only by a writing signed by both parties.
6. In the absence of willful misfeasance, bad faith or gross negligence on the
part of the Administrator, or reckless disregard of its obligations and
duties hereunder, the Administrator shall not be subject to any liability
to the Trust, to any shareholder of the Trust or to any other person, firm
or organization, for any act or omission in the course of, or connected
with, rendering services hereunder.
COLUMBIA FLOATING RATE ADVANTAGE FUND
By: /s/ Xxxxxx X. Xxxxxxx
------------------------------------
Xxxxxx X. Xxxxxxx
President
COLUMBIA MANAGEMENT ADVISORS, INC.
By: /s/ Xxxxxx X. Xxxxxxx
------------------------------------
Xxxxxx X. Xxxxxxx
Executive Vice President and
Chief Operating Officer
A copy of the document establishing the Trust is filed with the Secretary of The
Commonwealth of Massachusetts. This Agreement is executed by officers not as
individuals and is not binding upon any of the Trustees, officers or
shareholders of the Trust individually but only upon the assets of the Trust.
-2-
