EX-99.g.1(q)
FORM OF AMENDMENT
[XX XXXXXX LOGO]
XX XXXXXX
XX XXXXXX XXXXX BANK
0 Xxx Xxxx Xxxxx
Xxx Xxxx, XX 00000
June 3, 2002
UBS Relationship Funds
000 Xxxxx XxXxxxx Xxxxxx
Xxxxxxx, XX 00000
RE: AMENDMENT TO MULTIPLE SERVICES AGREEMENT EFFECTIVE MAY 9, 1997
SCHEDULES B1 AND F TO REFLECT THE ADDITION OF THE UBS OPPORTUNISTIC EMERGING
MARKETS DEBT RELATIONSHIP FUND AND THE UBS OPPORTUNISTIC HIGH YIELD
RELATIONSHIP FUND
Dear Sirs:
We refer to the Multiple Services Agreement effective May 9, 1997 (the
"MSA") between Xxxxxx Xxxxxxx Trust Company, which was succeeded by XX Xxxxxx
Xxxxx Bank (formerly known as The Chase Manhattan Bank), and the UBS
Relationship Funds (formerly known as Xxxxxxx Relationship Funds).
The parties hereby agree as follows:
1. "Schedule B1 - List of Series of UBS Relationship Funds as amended
February 15, 2002" IS REPLACED in its entirety with "Schedule B1 -
List of Series of UBS Relationship Funds as last amended on June
3, 2002, " attached hereto.
2. "Schedule F - Fee Schedule for UBS Relationship Funds as amended
February 15, 2002" IS REPLACED in its entirety with "Schedule F - Fee
Schedule for UBS Relationship Funds as last amended on June 3,
2002," attached hereto.
The MSA, as amended by this letter amendment, shall continue in full
force and effect.
Page Two
Please evidence your acceptance of the terms of this letter by signing below and
returning one copy to Xxxxx Xxxxxxxxxx, X.X. Xxxxxx Investor Services Co., 00
Xxxxxxx, Xxxxxx, XX 00000.
Very truly yours,
XX XXXXXX XXXXX BANK
By:
--------------------------------
Name:
Title:
Accepted and Agreed:
UBS RELATIONSHIP FUNDS
By:
--------------------------------
Name:
Title:
SCHEDULE B1
LIST OF SERIES OF THE UBS RELATIONSHIP FUNDS
AS LAST AMENDED JUNE 3, 2002
UBS Global Securities Relationship Fund
UBS Global Bond Relationship Fund
UBS U.S. Equity Relationship Fund
UBS U.S. Large Cap Equity Relationship Fund
UBS U.S. Intermediate Cap Equity Relationship Fund
UBS U.S. Value Equity Relationship Fund
UBS U.S. Small Cap Equity Relationship Fund
UBS International Equity Relationship Fund
UBS Emerging Markets Equity Relationship Fund
UBS U.S. Core Plus Relationship Fund
UBS U.S. Bond Relationship Fund
UBS U.S. Short Duration Relationship Fund
UBS Enhanced Yield Relationship Fund
UBS Short-Term Relationship Fund
UBS U.S. Treasury Inflation Protected Securities Relationship Fund
UBS U.S. Cash Management Prime Relationship Fund
UBS High Yield Relationship Fund
UBS Defensive High Yield Relationship Fund
UBS Emerging Markets Debt Relationship Fund
UBS U.S. Securitized Mortgage Relationship Fund
DSI Enhanced S&P 500 Relationship Fund
UBS Opportunistic Emerging Markets Debt Relationship Fund
UBS Opportunistic High Yield Relationship Fund
SCHEDULE F
FEE SCHEDULE FOR THE UBS RELATIONSHIP FUNDS
AS LAST AMENDED ON JUNE 3, 2002
ACCOUNTING, ADMINISTRATION, TRANSFER AGENCY AND
CUSTODY SERVICES ANNUAL FEE SCHEDULE
1. On an annual basis, 0.25 basis points of the average weekly U.S. assets of
the Customer, 6.00 basis points of the average weekly non-U.S. assets of
the Customer, 32.50 basis points of the average weekly emerging markets
equity assets of the Customer and 1.90 basis points of the average weekly
emerging markets debt assets of the Customer.
There will be an annual fee of $25 for each shareholder account within UBS
Relationship Funds.
An additional fee of 7.50 basis points will be charged for administrative
duties. PLEASE NOTE: The additional fee of 7.50 basis points can ONLY be
charged up to the extent it does not make a fund exceed its expense cap.
Please see below for the expense caps of each fund within the UBS
Relationship Funds:
FUND EXPENSE CAP
---- -----------
UBS Global Securities Relationship Fund 5 basis points
UBS Global Bond Relationship Fund 5 basis points
UBS U.S. Equity Relationship Fund 1 basis point
UBS U.S. Large Cap Equity Relationship Fund 1 basis point
UBS U.S. Intermediate Cap Equity Relationship Fund 1 basis point
UBS U.S. Value Equity Relationship Fund 1 basis point
UBS U.S. Small Cap Equity Relationship Fund 0 basis point
UBS International Equity Relationship Fund 6 basis points
UBS Emerging Markets Equity Relationship Fund 50 basis points
UBS U.S. Core Plus Relationship Fund 5 basis points
UBS U.S. Bond Relationship Fund 1 basis point
UBS U.S. Short Duration Relationship Fund 1 basis point
UBS Enhanced Yield Relationship Fund 1 basis point
UBS Short-Term Relationship Fund 5 basis points
UBS U.S. Treasury Inflation Protected Securities Relationship Fund 1 basis point
UBS U.S. Cash Management Prime Relationship Fund 1 basis point
UBS High Yield Relationship Fund 0 basis point
UBS Defensive High Yield Relationship Fund 1 basis point
UBS Emerging Markets Debt Relationship Fund 50 basis points
UBS U.S. Securitized Mortgage Relationship Fund 10 basis points
DSI Enhanced S&P 500 Relationship Fund 10 basis points
UBS Opportunistic Emerging Markets Debt Relationship Fund 50 basis points
UBS Opportunistic High Yield Relationship Fund 10 basis points
NO FEE (asset based or otherwise) will be charged on any investments made
by any fund into any other fund managed by UBS Global Asset Management
(Americas) Inc. (formerly known as Xxxxxxx Partners, Inc.). Fees are to be
charged ONLY where actual non-UBS Global Asset Management (Americas)
Inc.-sponsored investment company or series securities are held. Assets of
a series which are invested in another UBS Global Asset Management
(Americas) Inc.-sponsored investment company or series shall not be counted
in determining whether or not the charging of the 7.50 basis points charge
for administrative duties would cause a fund to exceed its fee cap and
shall not be counted in determining the amount of assets subject to the
7.50 basis points.
For purposes of this Schedule F, the "AVERAGE WEEKLY U.S. ASSETS OF THE
CUSTOMER" means the average weekly U.S. assets custodied within the United
States of the Customer as calculated by the Accounting Agent for the month
for which the statement reflecting the charges for a given month relates.
For purposes of this Schedule F, the "AVERAGE WEEKLY NON-U.S. ASSETS OF THE
CUSTOMER" means the average weekly balance of countries included in the
Xxxxxx Xxxxxxx Capital World Ex-U.S.A. (free) Index or the Salomon Non-U.S.
Government Bond Index (including assets with a country of issue of the
European Economic Community and held in Euroclear or CEDEL) custodied
outside the United States of the Customer as calculated by the Accounting
Agent for the month for which the statement reflecting the charges for a
given month relates. For purposes of this Schedule F, the "AVERAGE WEEKLY
EMERGING MARKETS EQUITY ASSETS OF THE CUSTOMER" means the average weekly
balance of the countries included in the International Finance Corporation
Global Index (excluding countries included in the Xxxxxx Xxxxxxx Capital
World Ex-U.S.A. (free) Index or the Salmon Non-U.S. Government Bond Index,
but including assets with a country of issue in the local market contained
in such index that are held in Euroclear or CEDEL) custodied outside the
United States of the UBS Emerging Markets Equity Relationship Fund as
calculated by the Accounting Agent for the month for which the statement
reflecting the charges for a given month relates. For purposes of this
Schedule F, the "AVERAGE WEEKLY EMERGING MARKETS DEBT ASSETS OF THE
CUSTOMER" means the average weekly balance of the countries included in the
X.X. Xxxxxx Emerging Markets Bond Index Plus custodied outside the United
States of the UBS Emerging Markets Debt Relationship Fund (including assets
with a country of issue in the local market contained in such index that
are held in Euroclear or CEDEL) as calculated by the Accounting Agent for
the month for which the statement reflecting the charges for a given month
relates.
Those fees include all out-of-pocket expenses or transaction charges
incurred by the accountant, administrator, transfer agent and custodian
with the exception of the following.
The Customer will be billed directly by Other Parties for the following
direct Customer expenses or transaction charges:
(1) taxes;
(2) salaries and other fees of officers and directors who are not
officers, directors, shareholders or employees of Other Parties, or
the Customer's investment adviser;
(3) SEC and state Blue Sky registration and qualification fees, levies,
fines and other charges;
(4) XXXXX filing fees;
(5) independent public accountants;
(6) insurance premiums including fidelity bond premiums;
(7) outside legal expenses;
(8) costs of maintenance of corporate existence;
(9) expenses of typesetting and printing of prospectuses for regulatory
purposes and for distribution to current shareholders of the Customer;
(10) expenses of printing and production costs of shareholders' reports and
proxy statements and materials;
(11) trade association dues and expenses; and
(12) travel and lodging expenses of the Customer's directors and officers
who are not directors, officers and/or employees of Other Parties.
Customer will not be billed directly for any direct Customer Expenses or
pay any other direct Customer expenses, unless the payment of such direct
expenses is agreed to in writing by Customer.
2. Upon termination of the provision of services under this Agreement before
the end of any month, the fee for the part of the month before such
termination or the date after which the provision of services ceases,
whichever is later, shall be prorated according to the proportion which
such part bears to the full monthly period and shall be payable upon the
date of such termination or the date after which the provision of the
services ceases, whichever is later.
