EX.99.H(3)
[FORM OF] LETTER AGREEMENT
Investment Company Capital Corp.
Xxx Xxxxx Xxxxxx
Xxxxxxxxx, XX 00000
[DATE]
Flag Funds Complex
Xxx Xxxxx Xxxxxx
Xxxxxxxxx, XX 00000
RE: Accounting Services Fee
Dear Sirs:
In regards to the Accounting Services Appendix to the Master Services
Agreement dated September 1, 2000, (the "Agreement") between (i) Flag Investors
Communications Fund, Inc., (ii) Flag Investors Equity Partners Fund, Inc., (iii)
Flag Investors Emerging Growth Fund, Inc., (iv) Deutsche Banc Alex. Xxxxx Cash
Reserve Fund, Inc. (v) Flag Investors Real Estate Securities Fund, Inc., (vi)
Flag Investors Value Builder Fund, Inc. (vii) Flag Investors Series Funds, Inc.
on behalf of the Flag Investors Growth Opportunity Fund (viii) Flag Investors
Portfolios Trust on behalf of the Communications Portfolio and Investment
Company Capital Corp., each party to the Agreement agrees that compensation for
these services will be based on the following schedule.
Average Daily Net Asset Incremental Fee
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0 - $10,000,000 $13,000 (fixed fee)
$10,000,000 - $20,000,000 0.100%
$20,000,000 - $30,000,000 0.080%
$30,000,000 - $40,000,000 0.060%
$40,000,000 - $50,000,000 0.050%
$50,000,000 - $60,000,000 0.040%
$60,000,000 - $70,000,000 0.030%
$70,000,000 - $100,000,000 0.020%
$100,000,000 - $500,000,000 0.015%
$500,000,000 - $1,000,000,000 0.005%
over $1,000,000,000 0.001%
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Very truly yours,
INVESTMENT COMPANY CAPITAL CORP.
By:
--------------------------------
Name: Xxxxxxx X. Xxxx
Title: President
ACCEPTED AND CONFIRMED:
FLAG INVESTORS COMMUNICATIONS FUND, INC.
FLAG INVESTORS EQUITY PARTNERS FUND, INC.
FLAG INVESTORS EMERGING GROWTH FUND, INC.
DEUTSCHE BANC ALEX. XXXXX CASH RESERVE FUND, INC.
FLAG INVESTORS REAL ESTATE SECURITIES FUND, INC.
FLAG INVESTORS VALUE BUILDER FUND, INC.
FLAG INVESTORS SERIES FUNDS, INC.
FLAG INVESTORS PORTFOLIOS TRUST
By:
--------------------------------
Name: Xxxxxxx X. Xxxxx
Title: Treasurer
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