AMENDMENT No. 2
TO THE TRANSFER AGENCY AND SERVICES AGREEMENT
for DCXchange(sm) and DAZL Services
THIS AMENDMENT, dated as of October 1, 1998, is made to the Transfer
Agency and Services Agreement dated July 3, 1998 (the "Transfer Agent
Agreement") between AETNA SERIES FUND, INC. (the "Fund") and FIRST DATA INVESTOR
SERVICES GROUP, INC. ("Investor Services Group").
WITNESSETH
WHEREAS, Investor Services Group has developed a recordkeeping service
link ("DCXchange(sm)") between investment companies and benefit plan consultants
(the "Recordkeepers") which administer employee benefit plans, including plans
qualified under Section 401(a) of the Internal Revenue Code (the "Plans"); and
WHEREAS, Investor Services Group has entered into agreements with
various Recordkeepers relating to the recordkeeping and related services
performed on behalf of such Plans in connection with daily valuation and
processing of orders for investment and reinvestment of assets of the Plans in
various investment options available to the participants under such Plans (the
"Participants"); and
WHEREAS, the Fund, on behalf of the Portfolios set forth in the
attached Exhibit 1, desires to participate in the DCXchange(sm) Program and
retain Investor Services Group to perform such services with respect to shares
of the Funds ("Shares") held by or on behalf of the Participants as further
described herein and Investor Services Group is willing and able to furnish such
services on the terms and conditions hereinafter set forth.
WHEREAS, the Fund desires to utilize Investor Services Group's
proprietary Data Access Zip Link ("DAZL") and Investor Services Group desires to
provide the Fund with such services.
NOW THEREFORE, the Fund and Investor Services Group agree that as of
the date first referenced above, the Transfer Agent Agreement shall be amended
as follows:
1. DCXchange(sm). Investor Services Group agrees to perform recordkeeping and
related services for the benefit of the Plan Participants that maintain shares
of the Fund through Plans administered by certain Recordkeepers. Investor
Services Group shall subcontract with Recordkeepers to link the Investor
Services Group recordkeeping system with the Recordkeepers, in order for the
Recordkeepers to maintain Fund shares positions for each Participant. Fund
positions of the Participants shall constitute open accounts for which the Fund
shall pay to Investor Services Group the annual fees specified in the schedule
of fees attached hereto as Schedule A.
2. DAZL. In accordance with the following terms, Investor Services Group shall,
through its proprietary DAZL product, provide the Fund and such financial
planners and investment advisors (the "FP's") which, pursuant to agreements with
the Fund, distribute shares of such funds, with online access to Fund (including
Portfolios) and shareholder account information for the shareholders of the
Funds or such financial planners of investment advisors.
(a) Investor Services Group Responsibility. Investor Services Group
shall provide the Fund with the appropriate documentation and
procedures (the "DAZL Documentation") to enable the Fund to properly
use DAZL. In addition to and as more fully described in the DAZL
Documentation, Investor Services Group shall run & complete data
extracts after the transfer agent nightly cycles in order to provide
files to the end user i.e., financial planner, or direct to firms based
upon the profiles that the onlines designate.
(b) Fund Responsibilities. In addition to and as may be more fully
described in the DAZL Documentation, the Fund has responsibility (i)
for setting the FSR on-lines with the appropriate data in order to feed
into the DAZL extract; (ii) with respect to those FP's utilizing a 3rd
party software vendor to access information through DAZL, ensuring the
vendor provides the translation of the DAZL file to the appropriate
software package formats; (iii) for the Fund's errors and mistakes in
the use of DAZL; (iv) for the Fund's failure to use and employ DAZL in
accordance with the procedures and documentation made available by
Investor Services Group; (v) for the Fund's utilization of the control
procedures set forth and described in such user documentation; and (vi)
the Fund's failure to verify promptly reports or output received
through use of DAZL.
(c) Fees. In consideration of the DAZL services provided by Investor
Services Group hereunder, the Fund shall pay to Investor Services Group
the Fees set forth in Schedule B attached hereto.
This Amendment contains the entire understanding between the parties
with respect to the transactions contemplated hereby. To the extent that any
provision of this Amendment modifies or is otherwise inconsistent with any
provision of the Transfer Agent Agreement and related agreements, this Amendment
shall control, but the Transfer Agent Agreement and all related documents shall
otherwise remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their duly authorized officers, as of the day and year first above
written.
AETNA SERIES FUND, INC.
By: /s/Xxxxx Xxxxxxx
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Title: Vice President
------------------------
FIRST DATA INVESTOR SERVICES
GROUP, INC.
By: /s/Xxxx Xxxxxxxx
---------------------------
Title: Executive Vice President
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EXHIBIT 1
LIST OF PORTFOLIOS
Aetna Money Market Fund
Aetna Government Fund
Aetna Bond Fund
Aetna High Yield Fund
Aetna Balanced Fund
Aetna Growth and Income Fund
Aetna Real Estate Securities Fund
Aetna Value Opportunity Fund
Aetna Growth Fund
Aetna Mid Cap Fund
Aetna Small Company Fund
Aetna International Fund
Aetna Index Plus Large Cap Fund
Aetna Index Plus Mid Cap Fund
Aetna Index Plus Small Cap Fund
Aetna Index Plus Bond Fund
Aetna Ascent Fund
Aetna Crossroads Fund
Aetna Legacy Fund
Schedule A
DCXchange(sm) Fees
The Fund shall pay Investor Services Group annualized fees of $12.00 for each
Plan Participant account in the respective portfolio that is open during any
monthly period. These fees shall be billed by Investor Services Group monthly in
arrears on a prorated basis of 1/12 of the annualized fee for all accounts that
are open during such month.
The Fund shall reimburse Investor Services Group monthly for such other
out-of-pocket expenses reasonably incurred by Investor Services Group in
performing its duties and responsibilities under this Agreement, as pre-approved
by the Fund. The Fund further agrees that any volume discounts achieved by
Investor Services Group on behalf of its clients shall be returned by Investor
Services Group, unless otherwise agreed to by Investor Services Group and the
Fund.
Schedule B
DAZL Fees*
DAZL Base Product
One-time set-up fee $5,000 (To Be Waived)
Monthly Fee $1,000
Fee per record transmitted $0.025
Fee per price record transmitted $0.015
DAZL Direct fee per record transmitted $0.01
DAZL Interactive fee per record transmitted $0.01
* To be paid out of the Fund's 12(b)-1 fee. The foregoing statement is
included for the Fund's internal purposes only and is in no way to be
interpreted or construed to affect the Fund's obligation to make such
payments.
