EXHIBIT (H)(3)
EXECUTION COPY
SECOND ADDENDUM TO
TRANSFER AGENCY AND SERVICE AGREEMENT
ADDENDUM, entered into this 1st day of January, 2004 by and among and CDC
NVEST COMPANIES TRUST I ("COMPANIES TRUST") and CDC NVEST FUNDS TRUST I, CDC
NVEST FUNDS TRUST II, CDC NVEST FUNDS TRUST III, CDC NVEST FUNDS CASH MANAGEMENT
TRUST, (collectively "CDC NVEST TRUSTS") and XXXXXX XXXXXX FUNDS I, XXXXXX
XXXXXX FUNDS II (collectively "XXXXXX TRUSTS" and together with Companies Trust
and CDC Nvest Trusts, the "FUNDS") and CDC IXIS ASSET MANAGEMENT SERVICES, INC.
(the "TRANSFER AGENT").
WHEREAS, Companies Trust and Transfer Agent are parties to a Transfer
Agency and Service Agreement dated as of September 1, 2000, ("COMPANIES TRUST
AGREEMENT") pursuant to which the Transfer Agent acts as transfer agent,
disbursing agent, and agent in connection with certain other activities on
behalf of Companies Trust;
WHEREAS, CDC Nvest Trusts and Transfer Agent are parties to a Transfer
Agency and Service Agreement dated as of November 1, 1999, ("CDC NVEST TRUST
AGREEMENT") pursuant to which the Transfer Agent acts as transfer agent,
disbursing agent, and agent in connection with certain other activities on
behalf of the CDC Nvest Trusts;
WHEREAS, Each of the Xxxxxx Trusts and Transfer Agent are parties to a
separate Transfer Agency and Service Agreement, each dated as of February 1,
2003, (collectively, "XXXXXX TRUST AGREEMENTS", together with Companies Trust
Agreement and CDC Nvest Trust Agreement, "AGREEMENTS") pursuant to which the
Transfer Agent acts as transfer agent, disbursing agent, and agent in connection
with certain other activities on behalf of the Xxxxxx Trusts;
WHEREAS, the Funds are authorized to issue shares in separate series, with
each such series representing interests in a separate portfolio of securities
and other assets (each such series, together with all other series subsequently
established by the Funds and made subject to the Agreements in accordance with
Section 17 of the Agreements and in accordance with terms thereof, being
hereinafter referred to as a "PORTFOLIO," and collectively as the "Portfolios");
WHEREAS, the Funds and the Transfer Agent desire to amend SCHEDULE A of
each Agreement to reflect changes in Portfolios;
WHEREAS, the Funds and the Transfer Agent desire to amend SCHEDULE B of
each Agreement to reflect changes in the services to be provided by the Transfer
Agent; and
WHEREAS, the Funds, on behalf of the Portfolios, and the Transfer Agent
desire to amend Schedule 3.1 of the Agreements to reflect changes in fees.
NOW THEREFORE, in consideration of the foregoing and the mutual covenants
and agreements hereinafter contained, the parties hereby agree to amend the
Agreements, pursuant to the terms thereof, as follows:
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1. TERMS. Capitalized terms used, but not defined, herein shall have the
meanings given to them in the Agreements.
2. FUNDS. SCHEDULE A of the Companies Trust Agreement is deleted in its
entirety and replaced with SCHEDULE A - COMPANIES TRUST attached hereto.
SCHEDULE A of the CDC Nvest Trust Agreement is deleted in its entirety and
replaced with SCHEDULE A - CDC NVEST TRUSTS attached hereto. SCHEDULE A of each
Xxxxxx Trust Agreement is deleted in its entirety and replaced with SCHEDULE A -
XXXXXX TRUSTS attached hereto.
3. SERVICES FOR SIMPLE XXX RECORD KEEPING. SCHEDULE B of the Companies
Trust Agreement is amended in part to include the SIMPLE XXX Record Keeping
Services set forth in SCHEDULE B attached hereto. SCHEDULE B of the CDC Nvest
Trust Agreement is amended in part to include the SIMPLE XXX Record Keeping
Services set forth in SCHEDULE B attached hereto. SCHEDULE B of each Xxxxxx
Trust Agreement is amended in part to include the SIMPLE XXX Record Keeping
Services set forth in SCHEDULE B attached hereto.
4. CHANGE IN FEES. Schedule 3.1 of the Agreements is deleted in its
entirety and replaced with the Schedule 3.1 attached hereto.
5. MISCELLANEOUS. This Second Addendum may be executed in any number of
counterparts, each of which shall be considered an original, but all of which
shall together constitute one and the same instrument. All section headings in
this Second Addendum are solely for convenience of reference, and do not affect
the meaning or interpretation of this Second Addendum. This Second Addendum
shall have the effect of amending the Agreements but solely as to the matters
set forth herein. All provisions of the Agreements not deleted, amended or
otherwise modified herein shall remain in full force and effect. In the event of
any inconsistency between this Second Addendum and the Agreements, this Second
Addendum shall control.
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IN WITNESS WHEREOF, each of the parties has caused this Addendum to be
executed in its name and on its behalf by its duly authorized representative as
of the date first above written.
CDC IXIS ASSET MANAGEMENT SERVICES,
INC.
By:
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Name: XXXXXXXXXXX X. XXXXXX
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Title: PRESIDENT
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CDC NVEST FUNDS TRUST I
CDC NVEST FUNDS TRUST II
CDC NVEST FUNDS TRUST III
CDC NVEST COMPANIES TRUST I
CDC NVEST CASH MANAGEMENT TRUST
XXXXXX XXXXXX FUNDS II
By:
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Name: XXXX X. XXXXXX
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Title: PRESIDENT
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XXXXXX XXXXXX FUNDS I
By:
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Name: XXXX X. XXXXXX
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Title: EXECUTIVE VICE PRESIDENT
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SCHEDULE A - CDC NVEST TRUSTS
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CDC NVEST FUNDS TRUST I
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CDC NVEST STAR ADVISERS FUND
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CDC NVEST STAR GROWTH FUND
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CDC NVEST STAR SMALL CAP FUND (NAME CHANGE EFFECTIVE 3/1/04, XXXXXXX XXXXXX
SMALL CAP VALUE FUND)
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CDC NVEST STAR VALUE FUND
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CDC NVEST STAR INTERNATIONAL FUND (NAME CHANGE EFFECTIVE 3/1/04, XXXXXXXXXX
INTERNATIONAL FUND)
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CGM ADVISOR TARGETED EQUITY FUND
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XXXXXX XXXXXX CORE PLUS BOND FUND
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XXXXXX XXXXXX GOVERNMENT SECURITIES FUND
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WESTPEAK CAPITAL GROWTH FUND
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CDC NVEST FUNDS TRUST II
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XXXXXX ASSOCIATES GROWTH AND INCOME FUND (NAME CHANGE EFFECTIVE 3/1/04, XXXXXX
ASSOCIATES LARGE CAP VALUE)
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XXXXXX XXXXXX MASSACHUSETTS TAX FREE INCOME FUND
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CDC NVEST FUNDS TRUST III
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XXXXXX ASSOCIATES FOCUSED VALUE FUND
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CDC NVEST CASH MANAGEMENT TRUST
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CDC NVEST CASH MANAGEMENT TRUST - MONEY MARKET SERIES
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All Portfolios within the CDC Nvest Trusts are Load Funds for purposes of
Schedule 3.1 Fees.
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SCHEDULE A - COMPANIES TRUST
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CDC NVEST COMPANIES TRUST I
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AEW REAL ESTATE FUND
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All Portfolios within Companies Trust are Load Funds for purposes of Schedule
3.1 Fees.
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SCHEDULE A - XXXXXX TRUSTS
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XXXXXX XXXXXX FUNDS I
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XXXXXX XXXXXX BENCHMARK CORE FUND (3)
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XXXXXX XXXXXX BOND FUND (2)
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XXXXXX XXXXXX CORE PLUS FIXED INCOME FUND (3)
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XXXXXX XXXXXX FIXED INCOME FUND (3)
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XXXXXX XXXXXX GLOBAL BOND FUND (2)
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XXXXXX XXXXXX INSTITUTIONAL HIGH INCOME FUND (3)
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XXXXXX XXXXXX INTERMEDIATE DURATION FIXED INCOME FUND (3)
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XXXXXX XXXXXX INVESTMENT GRADE FIXED INCOME FUND (3)
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XXXXXX XXXXXX MID CAP GROWTH FUND (3)
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XXXXXX XXXXXX SMALL CAP VALUE FUND (2)
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XXXXXX XXXXXX SMALL COMPANY GROWTH FUND (3)
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XXXXXX XXXXXX US GOVERNMENT SECURITIES FUND (3)
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XXXXXX XXXXXX FUNDS II
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XXXXXX XXXXXX AGGRESSIVE GROWTH FUND (2)
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XXXXXX XXXXXX GROWTH FUND (1)
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XXXXXX XXXXXX HIGH INCOME FUND (1)
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XXXXXX XXXXXX INTERNATIONAL EQUITY FUND (1)
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XXXXXX XXXXXX INVESTMENT GRADE BOND FUND* (1)
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XXXXXX XXXXXX LIMITED TERM US GOVERNMENT FUND (1) (NAME CHANGE EFFECTIVE 2/1/04,
XXXXXX XXXXXX LIMITED TERM GOVERNMENT AND AGENCY FUND)
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XXXXXX XXXXXX MUNICIPAL INCOME FUND (1)
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XXXXXX XXXXXX RESEARCH FUND (1)
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XXXXXX XXXXXX SMALL CAP GROWTH FUND (2)
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XXXXXX XXXXXX STRATEGIC INCOME FUND (1)
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XXXXXX XXXXXX TAX-MANAGED EQUITY FUND (2)
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XXXXXX XXXXXX VALUE FUND (2)
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XXXXXX XXXXXX WORLDWIDE FUND (2)
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(1) Load Funds for purposes of Schedule 3.1 Fees.
(2) No-Load Funds for purposes of Schedule 3.1 Fees.
(3) Institutional Funds for purposes of Schedule 3.1 Fees.
*Addendum and Agreement do not include Class J shares of this Fund.
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SCHEDULE B - SIMPLE XXX RECORD KEEPING SERVICES
The Funds intend to be available as investment options to certain SIMPLE
XXX plans ("SIMPLE IRAs") within the meaning of Section 408(p) of the Internal
Revenue Code of 1986, as amended (the "Code") pursuant to which customers
("Employers") may adopt the SIMPLE IRAs for the benefit of individual employees
("Participants"). Participants may appoint State Street Bank and Trust Company
("State Street") as Custodian ("Custodian") of SIMPLE IRAs, the prototype of
which is maintained by State Street using Internal Revenue Service ("IRS") Form
5304 SIMPLE for the Employer and IRS Form 5305-SA for the Participant. In
connection therewith, the Transfer Agent shall perform the following record
keeping services listed below. Transfer Agent intends to engage Boston Financial
Data Services, Inc. and/or its affiliate ("Boston Financial") to perform certain
of the SIMPLE XXX record keeping services to be provided by the Transfer Agent
and enter into a separate SIMPLE XXX Record Keeping Services Agreement with
Boston Financial to that effect, and the Funds hereby acknowledge the Transfer
Agent's intent to so engage the Boston Financial.
1. Plan Set-Up. Transfer Agent shall:
(a) Establish the SIMPLE IRAs on appropriate systems based on the
information submitted by the Employer on the plan application; and
(b) Provide each Employer access to an Internet web-based software ("Plan
Web") for the Employer to transmit payroll information for individual
Participants or assist each Employer to use Automated Clearing House
("ACH") as the funding method for payrolls.
2. Participant Set-Up. Transfer Agent shall:
(a) Establish Participant accounts with Participant selected allocations
submitted by the Participant on new account applications; and
(b) Maintain individual Participant accounts, including beneficiary
information provided by the Participant on the appropriate system in
the name of the Custodian for the benefit of the individual
Participants.
3. Payroll Processing.
(a) Using Plan Web, the Employer will provide Transfer Agent with the
payroll information for each individual Participant, including amount
of deferral, amount of match or qualified non-elective contribution,
as applicable for each payroll period (hereinafter collectively
referred to as "Contributions"). The Employer will also provide
Transfer Agent with the total dollar amount of Contributions for each
payroll period for all Participants in the SIMPLE IRAs. The Employer
will simultaneously provide Transfer Agent with the monies to
effectuate the Contributions requested; and
(b) Transfer Agent will reconcile payrolls on Plan Web.
4. Processing Transactions. Transfer Agent shall perform the following
processing transactions:
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(a) Receive for acceptance and execute/process such instructions from the
Employer for the Contributions to Participants' accounts. When
Transfer Agent receives such instructions in good order (including
receipt of appropriate monies), it will credit such Shares to the
appropriate Participant account;
(b) Receive for acceptance and execute/process such instructions from
Participants for the contribution and distribution to and from
Participants' accounts for the purchase and sale of Shares, as
appropriate; record the appropriate number of Shares, as appropriate
in the appropriate Participant account. When the Transfer Agent
receives such purchase orders in good order (including receipt of the
appropriate monies), it will credit such Shares to the appropriate
Participant account;
(c) At the appropriate time and when Transfer Agent receives monies paid
with respect to any sale, credit such monies to the appropriate
Participant account;
(d) Effect exchanges of Shares, as appropriate, by the Participants upon
receipt of appropriate instructions in good order;
(e) Receive payments and information for dividends and distributions
declared by the Funds in the form of an earnings roster and
process/execute such in accordance with instructions for each
Participant account;
(f) Maintain records of accounts for and advise the Participants quarterly
as to the foregoing;
(g) Provide annual mailings to Participants who will be turning 70 1/2
with respect to required minimum distributions and establish such
distributions based upon Participants' written instructions;
(h) For exchanges and allocation changes of shares or monies, provide
daily confirmations to Participants and maintain records thereof;
(i) Provide Automated Voice Response Unit ("VRU") and Internet services
for Participant inquiries and transactions; and
(j) Upon receipt of data from the Employer with respect to termination of
Participants' employment with Employers and the death of Participants,
Transfer Agent will process such transactions and maintain such
records for the data received.
5. Reporting. Transfer Agent shall:
(a) Process Federal tax withholding as requested by a Participant upon
distribution of assets from a Participant's account;
(b) Transmit to the IRS the tax dollar amounts withheld according to IRS
prescribed formats or requirements;
(c) Produce and mail annually Form 1099R to Participants reflecting
distributed amounts and federal tax withholding;
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(d) Produce and mail annually Form 5498 to each Participant reflecting
total contributions deposited to such Participant's account;
(e) Forward copies of all required forms to the IRS;
(f) Produce and mail to Participant's address of record a quarterly
statement and confirmation statements reflecting the financial
activity of Participant's account;
(g) Produce and mail to the Employer's address of record a quarterly
report reflecting the financial activity of the SIMPLE XXX; and
(h) Produce and mail to the Employer's address of record a confirmation
report of any Contributions received for the Employer's SIMPLE XXX.
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SCHEDULE 3.1
FEES
DATED AS OF JANUARY 1, 2004
ACCOUNT SERVICE FEES THROUGH DECEMBER 31, 2004
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LOAD FUNDS (CLASSES A, B AND C)
Each Portfolio/Class
Equity Funds -- subject to the greater of the basis point fee listed
below or the minimum aggregate fee for all load equity funds of $8,406,916
Average Daily Net Assets** Fee
up to $5.7 billion 0.184%
between $5.7 billion and $10.7 billion 0.180%
in excess of $10.7 billion 0.175%
Fixed Income Funds -- subject to the greater of the basis point fee
listed below or the minimum aggregate fee for all fixed income funds of
$1,502,993
Average Daily Net Assets * Fee
up to $1.2 billion 0.142%
between $1.2 billion and $6.2 billion 0.135%
in excess of $6.2 billion 0.130%
Money Market Fund -- subject to the greater of the basis point fee
listed below or the minimum aggregate fee for the money market fund of
$1,381,719
Average Daily Net Assets * Fee
up to $650 million 0.239%
between $650 million and $5.65 billion 0.200%
in excess of $5.65 billion 0.195%
NO-LOAD FUNDS; LOAD FUNDS CLASS Y
No Load Retail Funds; Load Funds Class Y - subject to the greater of the
basis point fee listed below or the minimum aggregate fee for all retail no-load
funds and load funds class Y of $650,000 0.026% of Average Daily Net Assets *
INSTITUTIONAL FUNDS
Institutional Funds - subject to the greater of the basis point fee listed
below or the minimum aggregate fee for all institutional funds of $100,000
0.010% of Average Daily Net Assets *
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Fees are billable on a monthly basis for the average daily net assets during
each month. Account service fees are the higher of the basis point fees or the
portfolio/class minimum.
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MONTHLY MINIMUMS
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Each Portfolio/Class
Equity Funds (Classes A, B and C) $1,500
Fixed Income Funds (Classes A, B and C) $1,500
Money Market Funds (Classes A, B and C) $1,500
No Load Retail Funds; Load Funds Class Y $1,250
Institutional Funds $1,000
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* For purposes of calculating average daily net assets each month, all funds
offered by CDC IXIS Asset Management Distributors, L.P. for which there are
exchange privileges among the funds are included by fund type (e.g., Equity,
Fixed Income, Money Market) and sales channel (e.g. Load, No-Load (which
includes Class Y) and Institutional, as identified on SCHEDULE A. However, the
net assets subject to the monthly portfolio/class minimum shown above are
excluded from the net assets subject to the basis point fee. As of the date
hereof, Funds offered by CDC IXIS Asset Management Distributors, L.P. consists
of all series within the CDC Nvest Funds Trust I, CDC Nvest Funds Trust II, CDC
Nvest Funds Trust III, CDC Nvest Cash Management Trust, CDC Nvest Companies
Trust I, Xxxxxx Xxxxxx Funds I, and Xxxxxx Xxxxxx Funds II (except for Class J
of Xxxxxx Xxxxxx Investment Grade Bond).
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XXX CUSTODIAL FEES
Annual Maintenance (payable by shareholders) $20.00/Account
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SMALL ACCOUNT FEES
Annual Fee for below minimum accounts (payable by shareholders) $20.00/Account
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OUT OF POCKET EXPENSES
Out-of-pocket expenses include, but are not limited to, confirmation statements,
investor statements, postage, audio response, telephone, telecommunication and
line charges, equipment (including imaging equipment and support), record
storage, records retention, transcripts, microfilm, microfiche, disaster
recovery capabilities, checks, forms (including year end forms), wire fees,
mailing and tabulating proxies, sub-transfer agency fees including omnibus
account fees and networking fees, costs associated with certain specialty
products, systems, or services, as applicable (such as retirement plan
recordkeeping, "Investor," "Voice," "FAN," and "Vision", electronic statements
and electronic delivery initiatives), system conversion costs, and any other
expenses incurred at the specific direction of the Fund.
Subject to each party's right to terminate this Agreement pursuant to Section 13
hereof, the Transfer Agent and the Fund agree that the fees set forth in this
Schedule 3.1 shall remain in effect until December 31, 2004. Upon the expiration
of such period, the Transfer Agent and the Fund hereby agree to negotiate in
good faith such changes to this Schedule as they may deem necessary.
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CDC IXIS ASSET MANAGEMENT SERVICES,
INC.
By:
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Name: XXXXXXXXXXX X. XXXXXX
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Title: PRESIDENT
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CDC NVEST FUNDS TRUST I
CDC NVEST FUNDS TRUST II
CDC NVEST FUNDS TRUST III
CDC NVEST COMPANIES TRUST I
CDC NVEST CASH MANAGEMENT TRUST
XXXXXX XXXXXX FUNDS II
By:
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Name: XXXX X. XXXXXX
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Title: PRESIDENT
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XXXXXX XXXXXX FUNDS I
By:
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Name: XXXX X. XXXXXX
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Title: EXECUTIVE VICE PRESIDENT
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