AMENDMENT 4 TO ADMINISTRATION AGREEMENT
Exhibit (k)(5)
AMENDMENT 4 TO
This Amendment, dated as of the 10th day of March, 2010, is entered into by and between THE NEW IRELAND FUND, INC. (the “Fund”) and PNC GLOBAL INVESTMENT SERVICING (U.S.) INC. (formerly PFPC Inc.) (the “Administrator”).
WHEREAS, the Fund and the Administrator wish to further amend certain provisions of the Agreement.
NOW, THEREFORE, the parties hereto, intending to be legally bound hereby, hereby agree as follows:
I. | Section 5(c) of the Agreement, as amended pursuant to an amendment to the Agreement dated April 3, 2007, is hereby deleted in its entirety and replaced with the following: |
(c) | For the services to be rendered, the facilities to be furnished and the payments to be made by the Administrator, as provided for in this Agreement, the Administrator shall be compensated by the Fund by an annual fee equal to (i) 15 basis points on assets up to $150 million; and (ii) 10 basis points on assets over $150 million; provided that the Administrator’s fee in any year shall be no less than $100,000. Upon any termination of this Agreement before the end of any month, the fee for such part of a month shall be prorated according to the proportion which such period bears to the full monthly period and shall be payable upon the date of termination of this Agreement. |
II. | 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. |
THE NEW IRELAND FUND, INC. | ||
By: | /s/ Xxxxx Xxxxxx | |
Name: | Xxxxx Xxxxxx | |
Title: | Chairman | |
By: | /s/ Xxxxx Xxxx | |
Name: | Xxxxx Xxxx | |
Title: | Treasurer | |
PNC GLOBAL INVESTMENT SERVICING (U.S.) INC. | ||
By: | /s/ Xxx X. Xxxxxxxx | |
Name: | Xxx X. Xxxxxxxx | |
Title: | Senior Vice President |