99.(h)(1)
SERVICES AGREEMENT
AMENDMENT
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THIS AMENDMENT, dated as of , 2001, is made to the Services
Agreement dated October 1, 1999 (the "Agreement") between Third Avenue
Trust (the "Fund") and PFPC Inc. ("PFPC").
WITNESSETH
WHEREAS, the parties reserved to themselves the right to amend the
Agreement from time to time in a writing executed by the parties; and
WHEREAS, the parties now desire to amend the Agreement to reflect
the addition of the Third Avenue International Value Fund.
NOW THEREFORE, the Fund and PFPC agree that as of the date first
referenced above, the Agreement shall be amended as follows:
1. Schedule A to the Agreement is hereby deleted in its entirety and
replaced with the attached Schedule A.
2. Schedule C to the Agreement is hereby deleted in its entirety and
replaced with the attached Schedule C.
3. This Amendment contains the entire understanding between the
parties with respect to the transactions contemplated hereby. To
the extent that any provision of this Amendment modifies or is
otherwise inconsistent with any provision of the Agreement and
related agreements, this Amendment shall control, but the
Agreement and all related documents shall otherwise remain in full
force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment
to be executed by their duly authorized officers, as of the day and year
first above written.
THIRD AVENUE TRUST PFPC INC.
By: ________________________ By: ________________________
Title: _______________________ Title:________________________
SCHEDULE A
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LIST OF PORTFOLIOS
Third Avenue Value Fund
Third Avenue Small-Cap Value Fund
Third Avenue Real Estate Value Fund
Third Avenue International Value Fund
SCHEDULE C
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FEE SCHEDULE
Fund Accounting
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Third Avenue Value Fund
$24,000 Minimum on the first $10 Million of Average Net Assets
0.0004 On the Next $40 Million of Average Net Assets
0.0003 On the Next $50 Million of Average Net Assets
0.000 1 On the Next $100 Million of Average Net Assets
0.00005 On the Next $800 Million of Average Net Assets
0.000025 Over $1 Billion of Average Net Assets
Third Avenue Small-Cap Value Fund and Third Avenue Real Estate Value Fund
$24,000 Minimum to $20 Million of Average Net Assets
0.0003 On the Next $30 Million of Average Net Assets
0.0002 On the Next $50 Million of Average Net Assets
0.0001 On the Next $100 Million of Average Net Assets
0.00005 On the Next $800 Million of Average Net Assets
0.000025 Over $1 Billion of Average Net Assets
Third Avenue International Value Fund
$40,000 Minimum to $20 Million of Average Net Assets
0.0003 On the Next $30 Million of Average Net Assets
0.0002 On the Next $50 Million of Average Net Assets
0.0001 On the Next $100 Million of Average Net Assets
0.00005 On the Next $800 Million of Average Net Assets
0.000025 Over $1 Billion of Average Net Assets
Notes:
1. If any Portfolio holds 10 or less non-U.S. dollar denominated
securities, the fee schedule will remain unchanged.
2. If any Portfolio purchases more than 10 non-U.S. dollar denominated
securities, the annual minimum will increase from $24,000 to $34,000.
3. If any Portfolio holds more than 50% of its securities in non-U.S.
dollar denominated securities, the annual minimum will increase from
$24,000 to $40,000.
4. Assumes that Investor Services Group can use the automated return of
capital calculation for REITs which uses the prior year actual return of
capital to estimate current year return of capital. Should this not be the
case, the annual minimum will increase from $24,000 to $34,000.
Transfer Agency
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$15.00 per account, per year subject to a monthly minimum fee of $2,250
for each class of each Portfolio.
$2.00 per closed-account
$0.00 Provide history files at no charge to allow for cost basis
calculations
Lost Shareholder Search/Reporting: $2.75 per account search* *
The per account search fee shall be waived until June
2000 so long as the Fund retains Xxxxx Tracers, Inc.
("KTI") to provide the Fund with KTI's "In-Depth Research
Program" services.
Fulfillment
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$2.00 per call, includes Fulfillment (not including postage.)
$24,000 annual minimum (not necessarily on a monthly basis)
Miscellaneous Charges
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The Fund shall be charged for the following products and services as applicable:
o Ad hoc reports
o Ad hoc SQL time
o COLD Storage
o Digital Recording
o Banking Services, including incoming and outgoing wire charges
o Microfiche/microfilm/CD production
o Magnetic media tapes and freight
o Manual Pricing
o Materials for Rule 1 5c-3 Presentations
o Pre-Printed Stock, including business forms, certificates,
envelopes, checks and stationary
Fee Adjustments
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After the one year anniversary of the effective date of this Agreement,
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
(unad justed) - (1982-84=100), published by the U.S. Department of Labor
since the last such adjust ment in the Client's monthly fees (or the
Effective Date absent a prior such adjustment).
Programming Costs
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The following programming rates are subject to an annual 5% increase after
the one year anniversary of the effective date of this Agreement.
(a) Dedicated Team: Programmer: $100,000 per annum
BSA: $ 85,000 per annum
Tester: $ 65,000 per annum
(b) System Enhancements (Non Dedicated Team): $150.00 per/hr per programmer
