Exhibit (k)(5)
12B-1 PLAN IMPLEMENTING AGREEMENT
Each Massachusetts Business Trust ("Trust") designated in Appendix 1
from time to time, acting severally, and Columbia Funds Distributor, Inc.
("CFDI"), a Massachusetts corporation, agree effective November 1, 2003:
1. 12B-1 PLAN. The Trusts, on behalf of their several Funds, have
adopted so-called "Rule 12b-1 Plans" (the "Plans") pursuant to Rule 12b-1 (the
"Rule") under the Investment Company Act of 1940 (the "Act"). Under the Rule, a
Fund may, pursuant to a Plan, pay CFDI a specified portion of its assets to be
used for the purposes specified in its Plan. A Plan shall continue in effect
with respect to a Class of Shares only so long as specifically approved for that
Class at least annually as provided in the Rule. A Plan may not be amended to
increase materially the service fee or distribution fee with respect to a Class
of Shares without such shareholder approval as is required by the Rule or any
applicable orders of the Securities and Exchange Commission, and all material
amendments of the Plan must be approved in the manner described in the Rule. A
Plan may be terminated with respect to a Class of Shares at any time as provided
in the Rule without payment of any penalty.
This Agreement shall apply to each Fund named in Appendix 1 as that
Appendix may be amended from time to time by the parties, in writing.
2. PAYMENTS, EXPENDITURES AND REPORTS.
A. Each Fund shall pay CFDI the amount then due CFDI under a
Plan on the 20th day of each month, or, if such day is not a business
day, the next business day thereafter, during the term of this
Agreement.
B. CFDI shall expend the amounts paid to it by the Funds under
a Plan in its discretion, so long as such expenditures are consistent
with the Rule, the Plan, and any instructions CFDI may receive from the
Trustees of any Trust.
C. CFDI shall make all reports required under the Act, the
Rule or a Plan to the Trustees of the Trusts, as provided in the Act,
the Rule and any Plan or as requested by the Trustees.
3. CONTINUATION; AMENDMENT; TERMINATION; NOTICE.
A. This Agreement (i) supersedes and replaces any contract or
agreement relating to the subject matter hereof in effect prior to the
date hereof, (ii) shall continue in effect as to any Trust or a Fund
only so long as specifically approved at least annually by the Trustees
or shareholders of the Trust or Fund and (iii) may be amended at any
time by written agreement of the parties, each in accordance with the
Act and the Rule.
B. This Agreement (i) shall terminate immediately upon the
effective date of any later dated agreement relating to the subject
matter hereof, and (ii) may be terminated upon 60 days' notice without
penalty by a vote of the Trustees or by CFDI or otherwise in accordance
with the Act, and (iii) will terminate immediately in the event of its
assignment (as defined in the Act). Upon termination the obligations of
the parties under this Agreement shall cease except for unfulfilled
obligations and liabilities arising prior to termination.
C. All notices required under this Agreement shall be in
writing and delivered to the office of the other party.
4. AGREEMENT AND DECLARATION OF TRUST. A copy of the document
establishing each Trust is filed with the Secretary of The Commonwealth of
Massachusetts. As to each Trust 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 relevant
Fund.
Agreed:
EACH TRUST DESIGNATED IN APPENDIX 1 COLUMBIA FUNDS DISTRIBUTOR, INC.
By: ________________________________ By: ________________________________
Name: Name:
Title: Title:
APPENDIX 1
Trust Series
Columbia Funds Trust I Columbia High Yield Opportunity Fund
Columbia Strategic Income Fund
Columbia Tax-Managed Growth Fund
Columbia Tax-Managed Value Fund
Columbia Tax-Managed Growth Fund II
Columbia Tax-Managed Aggressive Growth Fund
Columbia Funds Trust II Columbia Money Market Fund
Columbia Newport Japan Opportunities Fund
Columbia Newport Greater China Fund
Columbia Funds Trust III Columbia Mid Cap Value Fund
Columbia Liberty Fund
Columbia Federal Securities Fund
Columbia Global Equity Fund
Columbia Contrarian Income Fund
Columbia Intermediate Government Income Fund
Columbia Quality Plus Bond Fund
Columbia Corporate Bond Fund
Columbia Funds Trust IV Columbia Tax-Exempt Fund
Columbia Tax-Exempt Insured Fund
Columbia Municipal Money Market Fund
Columbia Utilities Fund
Columbia Funds Trust V Columbia Massachusetts Tax-Exempt Fund
Columbia Connecticut Tax-Exempt Fund
Columbia California Tax-Exempt Fund
Columbia New York Tax-Exempt Fund
Columbia Intermediate Tax-Exempt Bond Fund
Columbia Massachusetts Intermediate Municipal Bond Fund
Columbia Connecticut Intermediate Municipal Bond Fund
Columbia New Jersey Intermediate Municipal Bond Fund
Columbia New York Intermediate Municipal Bond Fund
Columbia Rhode Island Intermediate Municipal Bond Fund
Columbia Florida Intermediate Municipal Bond Fund
Columbia Pennsylvania Intermediate Municipal Bond Fund
Columbia Large Company Index Fund
Columbia U.S. Treasury Index Fund
Columbia Small Company Index Fund
Columbia Funds Trust VI Columbia Growth & Income Fund
Columbia Small Cap Value Fund
Columbia Newport Asia Pacific Fund
Columbia Funds Trust VII Columbia Newport Tiger Fund
Columbia Europe Fund
Columbia Floating Rate Advantage Fund
By: ________________________________
[ ], [Assistant] Secretary for each Trust
By: ________________________________
[Name], [Title]
Columbia Funds Distributor, Inc.
Dated: November 1, 2003
