AMENDMENT TO THE PROFESSIONALLY MANAGED PORTFOLIOS FUND ADMINISTRATION SERVICING AGREEMENT
AMENDMENT
TO THE
THIS AMENDMENT dated as of the
3rd
day of August, 2009, to the Fund Administration Servicing Agreement, dated as of
June 22, 2006, as amended, (the “Agreement”), is entered into by and between
Professionally Managed
Portfolios, a Massachusetts business trust (the "Trust") on behalf of its
separate series, the Xxxx Focus
Fund and U.S. Bancorp
Fund Services, LLC, a Wisconsin limited liability company
("USBFS").
RECITALS
WHEREAS, the parties have
entered into a Fund Administration Servicing Agreement; and
WHEREAS, the parties desire to
amend the series of the Trust to add a fund; and
WHEREAS, Section 10 of the
Agreement allows for its amendment by a written instrument executed by both
parties.
NOW, THEREFORE, the parties
agree as follows:
Exhibit U
to the Agreement is hereby added and attached hereto.
Except to
the extent amended hereby, the Agreement 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 date and year first written
above.
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PROFESSIONALLY
MANAGED PORTFOLIOS
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U.S.
BANCORP FUND SERVICES, LLC
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By:
/s/Xxxxxx X.
Xxxxxx
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By:
/s/Xxxxxxx X.
XxXxx
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Name:
Xxxxxx X. Xxxxxx
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Name:
Xxxxxxx X. XxXxx
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Title:
President
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Title:
Executive Vice President
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1
Exhibit
U
to
the
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Name of
Series
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Date
Added
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Xxxx Focus
Fund
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on or after August 3,
2009
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Multiple Series
Trust
FUND ADMINISTRATION & PORTFOLIO
COMPLIANCE SERVICES
FEE SCHEDULE at August,
2009
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Domestic
& Fixed Income Funds
Annual Fee Based Upon Market Value Per
Fund*
7 basis
points on the first $300
million
5 basis points
on the next $500
million
3 basis points
on the balance above $800
million
Minimum
annual fee: $35,000 per
fund
Multiple Classes
§ $10,000 for each additional
class
Advisor Information Source Web
Portal
§ $150
/fund/month
§ $500 /fund/month
for clients using an external administration service
§ Specialized
projects will be analyzed and an estimate will be provided prior to work
being performed
Chief Compliance Officer Fee*
§ $11,000 /year
Out-Of-Pocket
Expenses
Including
but not limited to postage, stationery, programming, special reports,
daily compliance testing systems expenses, proxies, insurance, XXXXX
filing, retention of records, federal and state regulatory filing fees,
certain insurance premiums, expenses from board of directors meetings,
third party auditing and legal expenses, conversion expenses (if
necessary), and all other out-of-pocket expenses.
Additional
Services
Available
but not included above are the following services – legal administration,
SEC §15(c) reporting, daily fund compliance testing, and daily performance
reporting.
Fees
are billed monthly.
*
Subject to annual CPI increase, Milwaukee
MSA.
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Advisor’s
Signature below acknowledges approval of the fee schedule above.
Xxxx
Capital Management, LLC
By:
/s/Xxxxxx
Xxxxxxxx
Name:
Xxxxxx
Xxxxxxxx
Title:_____________________________ Date:__________________________
2
Exhibit
U (continued) to the PMP Fund Administration Servicing Agreement
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FUND ADMINISTRATION & COMPLIANCE
PORTFOLIO SERVICES
SUPPLEMENTAL SERVICES - FEE SCHEDULE
August, 2009
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Multiple
Classes – Add the following for each class beyond the first
class:
§ 1
basis point at each level
§ $15,000
per class minimum
Annual
Legal Administration – Add the following for legal administration
services in support of external legal counsel, including annual
registration statement update and drafting of supplements:
Additional Services:
§ New
fund launch – as negotiated based upon specific requirements
§ Subsequent
new fund launch – $10,000 per
project
§ Subsequent
new share class launch – $7,500 per
project
§ Multi-managed
funds – as negotiated based upon specific requirements
§ Proxy
– as negotiated based upon specific requirements
Daily Pre- and Post-Tax Performance
Reporting
§ Performance
Service – $300
/CUSIP/month
§ Setup
– $100
/CUSIP
§ Conversion
– quoted separately
§ FTP
Delivery – $2,500
setup per FTP site
Daily Compliance Services (Xxxxxxx
River)
§ Base
fee – $15,000
/fund/year
§ Setup
– $2,000
/fund group
§ Data
Feed – $0.15
/security/month
Advisor Information Source Web
Portal
§ $150
/fund/month
§ $500
/fund/month for clients using an external administration
service
§ $200
/hour custom development – quoted based upon client
requirements
SEC §15(c) Reporting
§ $2,000
per fund per report – first class
§ $600
per additional class report
Electronic Board Materials
§ USBFS
will establish a unique client board URL and load/maintain all fund board
book data for the main fund board meetings and meetings for up to two
separate committees
§ Up
to 10 non-USBFS users including advisor, legal, audit, etc.
§ Complete
application, data and user security – data encryption and password
protected
§ On-line
customized board materials preparation workflow
§ Includes
web-based and local/off-line versions
§ Includes
complete initial and ongoing user training
§ Includes
24/7/365 access via toll free number
§ Includes
remote diagnostics for each user, including firewall and network
issues
§ Triple
server backup / failover
Annual Fee
§ $24,000
per year (includes 10 external users)
§ $800
per year per additional user
§ $4,000
implementation / setup fee
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Advisor’s
Signature below acknowledges approval of the fee schedule above.
Xxxx
Capital Management, LLC
By:
/s/Xxxxxx
Xxxxxxxx
Name:
Xxxxxx
Xxxxxxxx
Title:_____________________________ Date:_________________
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