EXHIBIT 9(a)(i)
February 2, 1998
THE XXXXXX SQUARE STRATEGIC FIXED INCOME FUND
RE: TRANSFER AGENCY SERVICES FEES
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Dear Sir/Madam:
This letter constitutes our agreement with respect to compensation to
be paid to PFPC Inc. ("PFPC") for services provided under the terms of a
Transfer Agency Services Agreement dated February 2, 1998 between The Xxxxxx
Square Strategic Fixed Income Fund ("you" or the "Fund"), PFPC and Wilmington
Trust Company ("WTC") (the "Agreement"). Pursuant to paragraph 11 of the
Agreement, and in consideration of the services to be provided to the Fund, WTC
will pay PFPC certain fees and reimburse PFPC for its out-of-pocket expenses
incurred on its behalf, as follows:
1) Account Fee:
Annual, Semi-Annual, Quarterly Dividend: $10.00 per account per annum
Monthly Dividend: $15.00 per account per annum
Daily Accrual Dividend: $18.00 per account per annum
Inactive Account: $ .30 per account per month
Fees shall be calculated and paid monthly based on one-twelfth (1/12th) of
the annual fee. An inactive account is defined as having a zero balance
with no dividend payable. Inactive accounts are purged annually after
year-end tax reporting.
2) Transaction Charges:
Master/Omnibus Account: $ 1.00 per purchase/redemption
Telephone/Wire Orders: $ 4.00 per purchase/redemption
New Account Opening: $ 3.50 per account (paper)
12b-1 Calculation: $ .25 per account, per cycle
IRA/Qualified Plan Processing: $ 10.00 per Social Security Number,
per annum
$ 2.50 per distribution
$ 25.00 per transfer in or transfer
out
$ 1.85 per account with
checkwriting per annum
$ .10 per check transaction (non-
return of checks)
$ .50 per check transaction (return
of checks)
3) Minimum Base Fee:
Retail - $2,500 for each portfolio/class; excluding transaction charges
and out-of-pocket expenses.
Institutional - .03% of average daily net assets for each portfolio
with Account Fees waived.
Any fee or out-of-pocket expenses not paid within 30 days of the date
of the original invoice will be charged a late payment fee of 1% per month until
payment of the fees are received by PFPC.
The fee for the period from the date hereof until the end of the year
shall be prorated according to the proportion which such period bears to the
full annual period.
If the foregoing accurately sets forth our agreement and you intend to
be legally bound thereby, please execute a copy of this letter and return it to
us.
Very truly yours,
PFPC INC.
By: /s/ X. Xxxxxxx Xxxxxxx
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Title: Chairman
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Agreed and Accepted:
THE XXXXXX SQUARE STRATEGIC FIXED INCOME FUND
By: /s/ Xxxxxx X. Xxxxxxxxx
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Title: President
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Agreed and Accepted:
WILMINGTON TRUST COMPANY
By: /s/ Xxxxxx X. Xxxxxxxxx
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Title: Senior Vice President
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