AMENDMENT TO THE CHACONIA INCOME AND GROWTH FUND, INC.’S CUSTODY, FUND AMINISTRATION AND TRANSFER AGENT SERVICING AGREEMENTS
AMENDMENT TO
THE CHACONIA INCOME AND GROWTH FUND, INC.’S
CUSTODY, FUND AMINISTRATION AND TRANSFER
AGENT SERVICING AGREEMENTS
THIS AMENDMENT dated as of this 11 day of August, 2006, to the Amended and Restated Custody Agreement, the Fund Administration Servicing Agreement and the Transfer Agent Servicing Agreement dated November 13, 2000, respectively, (the “Agreements”), is entered by and among The Chaconia Income and Growth Fund, Inc., a Maryland corporation (the “Company”), U.S. Bancorp Fund Services, LLC, a Wisconsin limited liability company (“USBFS”) and U.S. Bank National Association, a national banking association (the “Custodian”).
Effective January 1, 2006, the fee schedules of the Agreements are hereby superceded and replaced with the respective fee schedules attached hereto. Except to the extent supplemented hereby, the Agreements shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by a duly authorized officer on one or more counterparts as of the day and year first written above.
| THE CHACONIA INCOME AND GROWTH FUND, INC. | |
By: /s/ Xxxxxxx Xxxxxxxxx | |
Name: Xxxxxxx Xxxxxxxxx | |
Title: President | |
U.S. BANK, X.X. |
X.X. BANCORP FUND SERVICES, LLC |
By: /s/ Xxxxxxx X. XxXxx |
By: /s/ Xxxxxxx X. XxXxx |
Name: Xxxxxxx X. XxXxx |
Name: Xxxxxxx X. XxXxx |
Title: Vice President |
Title: Sr. Vice President |
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| Chaconia Income & Growth Fund, Inc. - Fee Schedule - Effective 1/1/06 TRANSFER AGENT & SHAREHOLDER SERVICES | |
|---|---|
| Service Charges to the Fund* | Service Charges to Investors |
| Shareholder Acct Fee (Subject to Minimum) | Qualified Plan Fees (Billed to Investors) |
| • No-Load - $14.00 /account | • $15.00 /qualified plan acct (Cap at $30.00/SSN) |
| • Load Fund - $16.00 /account | • $15.00 /Xxxxxxxxx ESA acct (Cap at $30.00/SSN) |
| • Daily Accrual Fund - $21.00 /account | • $25.00 /transfer to successor trustee |
| • Closed Accounts - $2.50 /account | • $25.00 /participant distribution (Excluding SWPs) |
| Annual Minimum | • $25.00 /refund of excess contribution |
| • $24,000 per no-load fund | Additional Shareholder Fees (Billed to Investors) |
| • $28,000 per load or daily accrual fund | |
| • $15,000 each additional class | • $15.00 /outgoing wire transfer |
| Activity Charges | • $15.00 /overnight delivery |
| • Telephone Calls - $1.50 /call | • $5.00 /telephone exchange |
| • E-mail Services | • $25.00 /return check or ACH |
| $200 /month administration | • $25.00 /stop payment |
| $3.00 /e-mail received | • $5.00 /research request per account (Cap at $25.00/request) (For |
| • Draft Check Processing - $1.00 /draft | requested items of the second calendar year [or previous] to the request) |
| • Daily Valuation Trades - $10.00/trade | |
| • Lost Shareholder Search - $5.00 /search | |
| • XXX Xxxx Xxxxxxx (xxxx Xxxxx 0 accounts) | Technology Charges |
| 0-999 accounts - $500.00/year | 1. Fund Group Setup (first cusip) - $2,000 /fund group |
| 1,000-4,999 accounts - $1,000/year | 2. Fund Setup - $1,500 /cusip (beyond first cusip) |
| 5,000-9,999 accounts - $2,500/year | 3. NSCC Service Interface - All NSCC Services |
| 10,000+ accounts - $5,000/year | • Setup - $1,500 /fund group |
| • AML Base Service (excl Level 3 accounts) | • Annual - $1,400 /cusip/year |
| • AML New Account Service - $1.00/new domestic accounts | 4. Telecommunications and Voice Services |
| and $2.00/new foreign account | • Service Setup - $1,650 ATT transfer connect |
| • CCO Support Services - $1,200 per year* | • VRU Setup - $500 /fund group |
| • Omnibus Account Transactions | • VRU Maintenance - $100 /cusip/month |
| $3.00 each - first 100 transactions | • $.35 /voice response call |
| $2.00 each - next 400 transactions | • $.40 /voice recognition call |
| $1.00 each - next 1,500 transactions | 5. Asset Allocation Services - $8.00 /account group/year (4 reallocations) |
| $.50 each - next 3,000 transactions | 6. 12b-1 Aging - $1.50 /account/year |
| $.25 each - balance of transactions | 7. Average Cost - $.36 /account/year |
| • ACH/EFT Shareholder Services: | 8. Development/Programming - $150 /hour |
| $125.00 /month/fund group | 9. File Transmissions - subject to requirements |
| $.50 /ACH item, setup, change | 10. Selects - $300 per select |
| $5.00 /correction, reversal | 11. Extraordinary services - charged as incurred |
| • Conversion of Records (if necessary) - Estimate to be provided. | |
| Out-of-pocket Costs - Including but not limited to: | • Custom processing, re-processing |
| • Telephone toll-free lines, call transfers, etc. | • All other extraordinary services |
| • Mailing, sorting and postage | Fees are billed monthly |
| • Stationery, envelopes | * Subject to CPI increase |
| • Programming, special reports | |
| • Insurance, record retention, microfilm/fiche | |
| • Proxies, proxy services | |
| • ACH fees, NSCC charges | |
| • Disaster recovery - per open account | |
| • All other out-of-pocket expenses | |
| Fees are billed monthly. | |
| All invoices are due within 30 calendar days following receipt of the invoice. After the due date, unpaid invoices shall accrue a finance charge of one and
one-half percent (1-1/2%) per month until paid. *Effective with the first day after expiration of the first twelve (12) months of service, the fees and charges set forth in this Schedule shall be increased over the fees and charges during the previous twelve (12) months in the amount equal to the change in the Consumer Price Index for all Urban Consumers in the Milwaukee, Wisconsin Metropolitan Statistical Area, All Terms, Based 1982-1984 = 100, as last reported by the U.S. Bureau of Labor Statistics (“CPI-U”). Thereafter, all of the fees and charges in this fee schedule (except for out-of-pocket expenses) shall increase annually upon each anniversary of this Schedule in an amount equal to the percentage change in the CPI-U for the proceeding twelve (12) months. | |
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| CHACONIA Income & Growth Fund, Inc. FUND ADMINISTRATION & COMPLIANCE SERVICES ANNUAL FEE SCHEDULE at 1/1/2006 | |
|---|---|
Domestic Funds |
CCO Support Services - $1,200 per year* |
Annual fee based upon assets per fund* |
International Funds |
| 7 basis points on the first $300 million | |
| 6 basis points on the next $500 million | Annual fee based upon assets per fund* |
| 4 basis points on the balance | 9 basis points on the first $200 million |
| Minimum annual fee: $40,000 first fund | 8 basis points on the next $300 million |
| $35,000 each additional fund | 6 basis points on the next $500 million |
| 4 basis points on the balance | |
| Extraordinary services - quoted separately | Minimum annual fee: $50,000 per fund |
Multiple Classes - Add the following per class: |
Extraordinary services - quoted separately |
| 1 basis point at each level | |
| $15,000 per fund minimum | Multiple Classes - Add the following per class: |
| 1 basis point at each level | |
| Annual legal administration - Add: | $15,000 per fund minimum |
| 1 basis point at each level | |
| $5,000 additional minimum | Annual legal administration - Add: |
| 1 basis point at each level | |
| Plus out-of-pocket expenses, including but not limited to: | $5,000 additional minimum |
| Postage, Stationery | |
| Programming, Special Reports | Plus out-of-pocket expenses, including but not limited to: |
| Proxies, Insurance | Postage, Stationery |
| XXXXX filing - Approx. $9.00/page | Programming, Special Reports |
| Retention of records | Proxies, Insurance |
| Federal and state regulatory filing fees | XXXXX filing - Approx. $11.00/page |
| Certain insurance premiums | Retention of records |
| Expenses from board of directors meetings | Federal and state regulatory filing fees |
| Auditing and legal expenses | Certain insurance premiums |
| Blue Sky conversion expenses (if necessary) | Expenses from board of directors meetings |
| All other out-of-pocket expenses | Auditing and legal expenses |
| Fees are billed monthly. | Blue Sky conversion expenses (if necessary) |
| All other out-of-pocket expenses | |
| * Subject to CPI increase. | |
| Fees are billed monthly. | |
| * Subject to CPI increase. | |
| All invoices are due within 30 calendar days following receipt of the invoice. After the due date, unpaid invoices shall accrue a finance charge of one and one-half percent (1-1/2%) per month until paid. | |
| *Effective with the first day after expiration of the first twelve (12) months of service, the fees and charges set forth in this Schedule shall be increased over the fees and charges during the previous twelve (12) months in the amount equal to the change in the Consumer Price Index for all Urban Consumers in the Milwaukee, Wisconsin Metropolitan Statistical Area, All Terms, Based 1982-1984 = 100, as last reported by the U.S. Bureau of Labor Statistics (“CPI-U”). Thereafter, all of the fees and charges in this fee schedule (except for out-of-pocket expenses) shall increase annually upon each anniversary of this Schedule in an amount equal to the percentage change in the CPI-U for the proceeding twelve (12) months. | |
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| CHACONIA Income & Growth Fund, Inc. DOMESTIC CUSTODY SERVICES ANNUAL FEE SCHEDULE at 1/1/2006 |
Annual fee based upon market value
per fund*:
3 basis points on the first $20 million
2 basis points on the next $20 million
1.5 basis point on the balance
Minimum annual fee per fund - $4,800
CCO Support Services - $1,200 per year*
Portfolio Transaction Fees
$ 5.00
per disbursement (waied if U.S. Bancorp is Administrator)
$ 7.00 per US Bank repurchase
agreement transaction
$ 9.00 per book entry security (depository or Federal Reserve
system) and non-US Bank repurchase agrmt
$25.00 per portfolio transaction processed
through our New York custodian definitive security (physical)
$ 8.00 per principal
paydown
$40.00 per option/future contract written, exercised or expired
$80.00 per
Cedel/Euroclear transaction
$15.00 per mutual fund trade
$15.00 per Fed Wire
$15.00 per
margin variation Fed wire
$ 6.00 per short sale
A transaction is a purchase/sale of a security, free receipt/free delivery, maturity, tender or exchange.
No charge for the initial conversion free receipt.
Overdrafts - charged to the account at prime interest rate.
Plus out-of-pocket expenses, and extraordinary expenses based upon complexity, including items such as shipping fees or transfer fees.
Fees are billed monthly.
|
Subject
to CPI increase. |
|
All
invoices are due within 30 calendar days following receipt of the invoice. After the due
date, unpaid invoices shall accrue a finance charge of one and one-half percent (1-1/2%)
per month until paid. |
|
*Effective
with the first day after expiration of the first twelve (12) months of service, the fees
and charges set forth in this Schedule shall be increased over the fees and charges
during the previous twelve (12) months in the amount equal to the change in the Consumer
Price Index for all Urban Consumers in the Milwaukee, Wisconsin Metropolitan Statistical
Area, All Terms, Based 1982-1984 = 100, as last reported by the U.S. Bureau of Labor
Statistics (“CPI-U”). Thereafter, all of the fees and charges in this fee schedule (except
for out-of-pocket expenses) shall increase annually upon each anniversary of this
Schedule in an amount equal to the percentage change in the CPI-U for the proceeding
twelve (12) months. |
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| CHACONIA Income & Growth Fund, Inc. - PROSPECT SERVICING ANNUAL FEE SCHEDULE at 1/1/2006 | |
|---|---|
| Full Service (Inbound Teleservicing and Kit | Lead Conversion Reporting |
| Assembly and Mailing) | Account Management $ 700/month |
| TIER 1 (0-50 orders per month) | Database Installation, Setup $1,500/fund group |
| Account Management $ 300/month | |
TIER 2 (51-250 orders per month) |
Web On-line Fund Fulfillment |
| Account Management $ 300/month | Account Management $ 500/month |
| First 50 orders NC | Installation, Setup $ 0 (NC) |
| Per order over 50 $ 4.00/order | Per Retail Request $ .40/retail request |
| Per Intermediary Request $ .60/retail request | |
| TIER 3 (251-500 orders per month) | |
| Account Management $ 1,000/month | |
| First 250 orders NC | Follow-up Services |
| Per order over 250 $ 3.50/order | Correspondence $2.00/letter |
| E-mail Correspondence (Separate Quote)* | |
| TIER 4 (over 500 orders per month) | Telemarketing (Separate Quote)* |
| Account Management $ 2,000/month | Customized Services (Separate Quote)* |
| First 500 orders NC | |
| Per order over 500 $ 3.00/order | *Dependent upon client requirements |
| E-mail/internet Lead Origination - $2.50 per request | All fees are billed monthly plus out-of-pocket expenses, including, but not |
| limited to: | |
| Service includes account management, lead reporting, call | Customized reporting development ($150.00/hour) |
| servicing, database management, kit assembly and mailing | Postage, stationery |
| (excluding postage and materials). | Programming, special reports |
| Retention of records | |
| Inbound Teleservicing (only) | File transmission charges |
| Account Management $100/month | Legal expenses |
| Call Servicing $.99/minute | All other out-of-pocket expenses |
| Base Reporting Services Included. | |
| Assumes that client is responsible for costs associated with order delivery. | |
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