Exhibit (e)(8)
AMENDMENT TO DISTRIBUTION SERVICES AGREEMENT
AMENDMENT made as of December 16, 2004 to the Distribution Services Agreement
(the "Agreement") made as of January 2, 1996, as amended June 4, 1996 between
ALLIANCEBERNSTEIN GLOBAL STRATEGIC INCOME TRUST, INC. (formerly Alliance Global
Strategic Income Trust, Inc.), a Maryland corporation (the "Fund"), and
ALLIANCEBERNSTEIN INVESTMENT RESEARCH AND MANAGEMENT, INC. (formerly Alliance
Fund Distributors, Inc.), a Delaware corporation (the "Underwriter").
Capitalized terms not defined herein have the meaning set forth in the
Agreement.
WITNESSETH
WHEREAS, the Fund and the Underwriter are parties to the Agreement;
WHEREAS, the Fund has decided to sell to the public shares of its
Class R Common Stock, Class K Common Stock and Class I Common Stock in addition
to its shares of Class A Common Stock, Class B Common Stock, Class C Common
Stock and Advisor Class Common Stock;
WHEREAS, the Underwriter is willing to act, and the Fund wishes to
appoint the Underwriter, as underwriter and distributor of the shares of Class R
Common Stock, Class K Common Stock and Class I Common Stock of the Fund;
NOW, THEREFORE, the parties agree to amend the Agreement as
follows:
1. Section 1 of the Agreement is amended by deleting it in its
entirety and replacing it with the following:
SECTION 1. Appointment of the Underwriter.
The Fund hereby appoints the Underwriter as the principal
underwriter and distributor of the Fund to sell to the public shares of
its Class A Common Stock (the "Class A shares"), Class B Common Stock
(the "Class B shares"), Class C Common Stock (the "Class C shares"),
Advisor Class Common Stock (the "Advisor Class shares"), Class R Common
Stock (the "Class R shares"), Class K Common Stock (the "Class K
shares"), Class I Common Stock (the "Class I shares") and shares of such
other class or classes as the Fund and the Underwriter shall from time to
time mutually agree in writing shall become subject to this Agreement
(the "New shares") (the Class A shares, the Class B shares, the Class C
shares, the Advisor Class shares, the Class R shares, the Class K shares,
the Class I shares and the New shares being collectively referred to
herein as the "shares") and hereby agrees during the term of this
Agreement to sell shares to the Underwriter upon the terms and conditions
herein set forth.
2. Section 5(b) of the Agreement is amended by deleting it in its
entirety and replacing it with the following:
(b) Except as may be required by NASD rules and
interpretations, the Fund will pay to the Underwriter each month a
distribution services fee that will not exceed, on an annualized basis,
0.30% of the aggregate average daily net assets of the Fund attributable
to the Class A shares, 1.00% of the aggregate average daily net assets of
the Fund attributable to the Class B shares, 1.00% of the aggregate
average daily net assets of the Fund attributable to the Class C shares,
0.50% of the aggregate average daily net assets of the Fund attributable
to Class R shares and 0.25% of the aggregate average daily net assets of
the Fund attributable to Class K shares. The distribution services fee
will be used in its entirety by the Underwriter to make payments (i) to
compensate broker-dealers or other persons for providing distribution
assistance, (ii) to otherwise promote the sale of shares of the Fund,
including payment for the preparation, printing and distribution of
prospectuses and sales literature or other promotional activities, and
(iii) to compensate broker-dealers, depository institutions and other
financial intermediaries for providing administrative, accounting and
other services with respect to the Fund's shareholders. A portion of the
distribution services fee that will not exceed, on an annualized basis,
.25% of the aggregate average daily net assets of the Fund attributable
to each of the Class A shares, Class B shares, Class C shares, Class R
shares and Class K shares will constitute a service fee that will be used
by the Underwriter for personal service and/or the maintenance of
shareholder accounts within the meaning of NASD rules and
interpretations.
3. Section 5(f) of the Agreement is amended by deleting it in its
entirety and replacing it with the following:
(f) The Fund is not obligated to pay any distribution
expenses in excess of the distribution services fee described above in
Section 5(b) hereof. Any expenses of distribution of the Fund's Class A
shares accrued by the Underwriter in one fiscal year of the Fund may not
be paid from distribution services fees received from the Fund in respect
of Class A shares in another fiscal year. Any expenses of distribution of
the Fund's Class B shares, Class C shares, Class R shares and Class K
shares accrued by the Underwriter in one fiscal year of the Fund may be
carried forward and paid from distribution services fees received from
the Fund in respect of such class of shares in another fiscal year. No
portion of the distribution services fees received from the Fund in
respect of Class A shares may be used to pay any interest expense,
carrying charges or other financing costs or allocation of overhead of
the Underwriter. The distribution services fees received from the Fund in
respect of Class B shares, Class C shares, Class R shares and Class K
shares may be used to pay interest expenses, carrying charges and other
financing costs or allocation of overhead of the Underwriter to the
extent permitted by Securities and Exchange Commission rules, regulations
or Securities and Exchange Commission staff no-action or interpretative
positions in effect from time to time. In the event this Agreement is
terminated by either party or is not continued with respect to a class of
shares as provided in Section 12 below: (i) no distribution services fees
(other than current amounts accrued but not yet paid) will be owed by the
Fund to the Underwriter with respect to that class, and (ii) the Fund
will not be obligated to pay the Underwriter for any amounts expended
hereunder not previously reimbursed by the Fund from distribution
services fees in respect of shares of such class or recovered through
deferred sales charges. The distribution services fee of a particular
class may not be used to subsidize the sale of shares of any other class.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment
to the Agreement.
ALLIANCEBERNSTEIN GLOBAL STRATEGIC
INCOME TRUST, INC.
By: /s/ Xxxx X. Xxxxxx
--------------------------
Name: Xxxx X. Xxxxxx
Title: Secretary
ALLIANCEBERNSTEIN INVESTMENT RESEARCH
AND MANAGEMENT, INC.
By: /s/ Xxxxxxx X. Xxxxxx
--------------------------
Name: Xxxxxxx X. Xxxxxx
Title: Executive Vice President &
Managing Director
Accepted as of the date written above:
ALLIANCE CAPITAL MANAGEMENT L.P.
By: Alliance Capital Management Corporation, General Partner
By: /s/ Xxxx X. Xxxxx
----------------------------
Name: Xxxx X. Xxxxx
Title: Executive Vice President
