AMENDMENT NO. 3 TO ADMINISTRATION AGREEMENT
As of July 1, 1996, FIRST DATA INVESTOR SERVICES GROUP, INC., a
Massachusetts corporation ("FDISG") and ENDEAVOR INVESTMENT ADVISERS, a
California general partnership (the "Company"), hereby amend the
Administration Agreement dated March 28, 1991 (the "Agreement") as follows:
In consideration for the services which FDISG shall perform for the
Company and the Company's TCW Money Market Portfolio, TCW Managed Asset
Allocation Portfolio, X. Xxxx Price International Stock Portfolio, Value
Equity Portfolio, Value Small Cap Portfolio, Dreyfus U.S. Government
Securities Portfolio, X. Xxxx Price Equity Income Portfolio and X. Xxxx Price
Growth Stock Portfolio (collectively, the "Existing Portfolios") and other
series of the Endeavor Series Trust which may become subject to the Agreement
("New Portfolios"), pursuant to the Agreement, the Company hereby agrees to
pay FDISG for the one year period commencing July 1, 1996 as follows:
Existing Portfolios (based on aggregate assets):
10 basis points on first $600 million 6 basis points on next $400
million 1 basis point on excess
New Portfolios.
Each New Portfolio with assets less than $40 million will have a minimum
annual charge of $40,000. Once assets in a New Portfolio are $40 million,
such Portfolio will become an Existing Portfolio and its assets will be
aggregated with those of the Existing Portfolios for purposes of
determining the fee for services as set forth above.
FDISG agrees to waive 50% of its administration fee during the first year
of operation of a New Portfolio if 50% or more of the management fee of
the Company is being waived. If less than 50% of the management fee is
being waived, FDISG will waive its fees at the same rate.
Out of Pocket Expenses:
Such fees do not include out-of-pocket disbursements of FDISG for which
FDISG shall be entitled to xxxx separately. Out-of-pocket disbursements
shall include, but shall not be limited to the items specified in
Schedule A to the Agreement, which Schedule may be modified by FDISG upon
not less than thirty days' prior written notice to the Company.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed and delivered by their duly authorized officers as of the date
first written above.
FIRST DATA INVESTOR
SERVICES GROUP, INC.
By: Xxxxxxx X. Xxxxxxx
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Title: Vice President
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ENDEAVOR INVESTMENT
ADVISERS
By: Xxxxxxx X. XxXxxxxxxx
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Title: CEO - EMC
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