AMENDMENT TO
ACCOUNTING SERVICES AGREEMENT
This Amendment dated as of February 28, 1999, is entered into by XXXXXXXX
MONTHLY DIVIDEND REIT SHARES, INC. (the "Company") and FIRST DATA INVESTOR
SERVICES GROUP, INC. ("Investor Services Group"), the successor in interest to
FPS SERVICES, INC. ("FPS").
WHEREAS, the Company and FPS entered into an Accounting Services Agreement
dated as of May 1, 1988, which agreement was assigned to Investor Services Group
effective February 23, 1998 (as amended and supplemented, the "Agreement");
WHEREAS, the Company and Investor Services Group wish to amend the
Agreement to extend the term of the Agreement and revise certain schedules to
the Agreement;
NOW, THEREFORE, the parties hereto, intending to be legally bound hereby,
hereby agree as follows:
I. The Agreement shall continue in effect from March 1, 1999 for an
initial period ending February 28, 2000 (the "Initial Term"). Upon the
expiration of the Initial Term, the Agreement shall automatically renew for
successive terms of one year ("Renewal Terms") each, unless the Company or
Investor Services Group provides written notice to the other of its intent not
to renew. Such notice must be received not less than ninety (90) days nor more
than one-hundred eighty (180) days prior to the expiration of the Initial Term
or the then-current Renewal Term.
II. Schedule "B" to the Agreement shall be deleted and replaced with the
attached Schedule "B", to be effective March 1, 1999.
III. Except to the extent amended hereby, the Agreement shall remain
unchanged and in full force and effect and is hereby ratified and confirmed in
all respects as amended hereby.
IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date
and year first written above.
Xxxxxxxx Monthly Dividend REIT Shares, Inc. First Data Investor Services
Group, Inc.
By:__________________________ By:_____________________________
Xxxxx X. Xxxxxxxx Xxxxxxx X. Xxxxx
Chairman Senior Vice President
Schedule "B"
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Fee Schedule
For
XXXXXXXX MONTHLY DIVIDEND REIT SHARES, INC.
Fees Related to Fund Accounting and Portfolio Valuation
A. Annual Fee Schedule: U.S. Dollar Denominated Securities only (1/12th
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payable monthly)
$25,000 minimum per fund, plus
.0002 On the first $100 million of Combined Funds' Average Net
Assets
.0001 Over $100 million of Combined Funds' Average Net
Assets
In addition, a $1,000 annual fee will be charged for manual processing
of REIT investments.
B. Pricing Services Quotation Fee
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Specific costs will be identified based upon options selected by the
client and will be billed monthly.
FPS does not currently pass along charges for U.S. equity prices
supplied by Xxxxxx Data. Should the Fund invest in security types
other than domestic equities supplied by Xxxxxx, the following fees
would apply.
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Xxxxxx Data Interactive X.X. Xxxxx
Security Types Corp.* Data Corp.* Co., Inc.*
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Government Bonds $ .50 $ .50 $ .25 (a)
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Mortgage-Backed (evaluated, seasoned, closing) .50 .50 .25 (a)
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Corporate Bonds (short and long term) .50 .50 .25 (a)
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U.S. Municipal Bonds (short and long term) .55 .80 .50 (b)
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CMO's/ARM's/ABS 1.00 .80 1.00 (a)
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Convertible Bonds .50 .50 1.00 (a)
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High Yield Bonds .50 .50 1.00 (a)
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Mortgage-Backed Factors (per Issue per Month) 1.00 n/a n/a
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U.S. Equities (d) .15 n/a
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Xxxxxx Data Interactive X.X. Xxxxx
Security Types Corp.* Data Corp.* Co., Inc.*
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U.S. Options n/a .15 n/a
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Domestic Dividends & Capital Changes
(per Issue per Month) (d) 3.50 n/a
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Foreign Securities .50 .50 n/a
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Foreign Securities Dividends & Capital Changes
(per Issue per Month) 2.00 4.00 n/a
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Set-up Fees n/a n/a (e) .25 (c)
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All Added Items n/a n/a .25 (c)
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* Based on current Vendor costs, subject to change. Costs are
quoted based on individual security CUSIP/identifiers and are
per issue per day.
(a) $35.00 per day minimum
(b) $25.00 per day minimum
(c) $ 1.00, if no CUSIP
(d) Currently at no additional cost to FPS clients
(e) Interactive Data also charges monthly transmission costs
and disk storage charges.
A) Futures and Currency Forward Contracts $2.00 per Issue per Day
B) Dow Xxxxx Markets (formerly Telerate Systems, Inc.)* (if
applicable)
*Based on current vendor costs, subject to change.
Specific costs will be identified based upon options selected
by the client and will be billed monthly.
C) Reuters, Inc.*
*Based on current vendor costs, subject to change.
FPS does not currently pass along charges for domestic security
prices supplied by Reuters, Inc.
D) Municipal Market Data* (if applicable)
*Based on current vendor costs, subject to change.
Specific costs will be identified based upon options selected
by the client and will be billed monthly.
C. SEC Yield Calculation: (if applicable)
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Provide up to 12 reports per year to reflect the yield calculations for
non-money market Funds required by the SEC, $1,000 per year per Fund.
For multiple class Funds, $1,000 per year per class. Daily SEC yield
reporting is available at $3,000 per year per Fund (US dollar
denominated securities only).
Out-of-Pocket Expenses
The Company shall reimburse Investor Services Group monthly for applicable out-
of-pocket expenses, including, but not limited to the following items:
. Postage - direct pass through to the Fund
. Telephone and telecommunication costs, including all lease,
maintenance and line costs
. Shipping, Certified and Overnight mail and insurance
. Terminals, communication lines, printers and other equipment and any
expenses incurred in connection with such terminals and lines
. Duplicating services
. Courier services
. Overtime, as approved by the Company
. Temporary staff, as approved by the Company
. Travel and entertainment, as approved by the Company
. Record retention, retrieval and destruction costs, including, but not
limited to exit fees charged by third party record keeping vendors
. Third party audit reviews
. Insurance
. Pricing services (or other services used to determine Fund NAV)
. Vendor pricing comparison
. XXXXX filing fees
. Such other expenses as are agreed to by Investor Services Group and
the Company
The Company agrees that postage and mailing expenses will be paid on the
day of or prior to mailing as agreed with Investor Services Group. In addition,
the Company will promptly reimburse Investor Services Group for any other
unscheduled expenses incurred by Investor Services Group whenever the Company
and Investor Services Group mutually agree that such expenses are not otherwise
properly borne by Investor Services Group as part of its duties and obligations
under the Agreement.
Miscellaneous Charges
The Company shall be charged for the following products and services as
applicable:
. Ad hoc reports
. Ad hoc SQL time
. Manual Pricing
. Materials for Rule 15c-3 Presentations
. COLD Storage
. Digital Recording
. Microfiche/microfilm production
. Magnetic media tapes and freight
. Pre-Printed Stock, including business forms, certificates, envelopes,
checks and stationary
Fee Adjustments
After the one year anniversary of the effective date of this Amendment, Investor
Services Group may adjust the fees described in the above sections once per
calendar year, upon thirty (30) days prior written notice in an amount not to
exceed the cumulative percentage increase in the Consumer Price Index for All
Urban Consumers (CPI-U) U.S. City Average, All items (unadjusted) - (1982-
84=100), published by the U.S. Department of Labor since the last such
adjustment in the Client's monthly fees (or the Effective Date of the Amendment
absent a prior such adjustment).
