AMENDMENT NO. 7 TO ADMINISTRATION AGREEMENT
This Amendment No. 7, dated as of June 26, 2000, is entered into between
PFPC INC. (formerly known as First Data Investor Services Group, Inc.), a
Massachusetts corporation ("PFPC") and THE GALAXY FUND, a Massachusetts business
trust (the "Company").
WHEREAS, PFPC and the Company have entered into an Administration
Agreement, dated as of June 1, 1997, as subsequently amended (as so amended, the
"Administration Agreement"), pursuant to which the Company appointed PFPC to act
as Administrator for the Company's portfolios (the "Funds"); and
WHEREAS, Section 9 of the Administration Agreement provides that no change,
termination, modification, or waiver of any term or condition of the
Administration Agreement shall be valid unless in writing signed by each party;
NOW THEREFORE, the parties hereto, intending to be legally bound, hereby
agree as follows:
1. The section of Schedule B of the Administration Agreement entitled
"Administration Fees" is amended and restated in its entirety to read as
follows:
"ADMINISTRATION FEES:
"PFPC shall be paid an annual administration fee at the annual rate of
.09% of the first $2.5 billion of the Funds' combined average daily net
assets, .085% of the next $2.5 billion of combined average daily net
assets, .075% of the next $7 billion of combined average daily net assets,
.065% of the next $3 billion of combined average daily net assets, .06% of
the next $3 billion of combined average daily net assets, .0575% of the
next $3 billion of combined average daily net assets and .0525% of combined
average daily net assets in excess of $21 billion."
2. The following sentence is added at the end of the section of Schedule
B of the Administration Agreement entitled "Fund Accounting Fees":
"PFPC shall waive $20,000 per month of the aggregate fund accounting fees
payable to it by the Funds."
3. Except to the extent amended hereby, the Administration Agreement
shall remain unchanged and in full force and effect and is hereby ratified and
confirmed in all respects as amended hereby.
IN WITNESS WHEREOF, the undersigned have executed this Amendment No. 7 as
of the day and year first above written.
PFPC INC.
By: /s/ Xxxxxxx X. Xxxxx
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Name: Xxxxxxx X. Xxxxx
Title:
THE GALAXY FUND
By: /s/ Xxxx X. X'Xxxxx
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Name: Xxxx X. X'Xxxxx
Title: President
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