Exhibit h(7)
March 15, 1999
THE XXXXX FUND
Re: Administration and Accounting Services Fees
Dear Sir/Madam:
This letter represents a revision to the Administration and Accounting
Services Fees dated June 20, 1996. Pursuant to Paragraph 11 of the
Administration and Accounting Services Agreement between PFPC Inc ("PFPC") and
The Xxxxx Fund, formerly, Xxxxx Treasury Fund, ("you" or the "Fund") dated June
26, 1996, and with respect to Xxxxx Treasury Only Money Market Fund only, you
will pay PFPC the following:
1. An annual administration and accounting services fee, calculated daily and
payable monthly based upon the following: .10% of the first $200 million of
average net assets; .075% of the next $200 million of average net assets; .05%
of the next $200 million of average net assets; and .03% of average net assets
in excess of $600 million. PFPC agrees to cap total annual administration and
accounting services fees with respect to Xxxxx Treasury Only Money Market Fund
only at .09% of average net assets for such portfolio.
2. PFPC's out-of-pocket expenses including, but not limited to, overnight
express charges, outside independent pricing service charges, and travel
expenses incurred for board meeting attendance.
3. A minimum monthly fee of $4,617, exclusive of out-of-pocket expenses.
The fee for the period from the date hereof until the end of that year
shall be prorated according to the proportion which such period bears to the
full annual period.
If the foregoing accurately sets forth our agreement and you intend to
be legally bound thereby, please execute a copy of this letter and return it to
us.
Very truly yours,
PFPC INC.
By: /S/ XXXXXX XXXXXXXX
Title: Senior Vice President
Accepted:
THE XXXXX FUND
By: /S/ XXXX X. XXXXXXXXX
Title: President
