Exhibit 99.(h)(3)
AMENDMENT NUMBER 1
TO
SHAREHOLDERS' SERVICING
AND
TRANSFER AGENT AGREEMENT
This Amendment Number 1 to the Shareholders' Servicing and Transfer Agent
Agreement is entered into on November 1, 2003 between each investment company or
series listed in Appendix I hereto (as the same may from time to time be amended
to add one or more additional investment companies or series thereof advised by
an affiliate of Columbia Management Group, Inc. ("CMG") or delete one or more
investment companies or series thereof acting severally on its own behalf and
not jointly with any of such other companies (each of such investment companies
or series thereof being hereinafter referred to as the "Fund" and collectively
as the "Funds")), and Liberty Funds Services, Inc. ("LFS").
BACKGROUND
1. On October 21, 2002, LFS and the Funds entered into a Shareholders'
Servicing and Transfer Agent Agreement (the "Agreement").
2. LFS and the Fund desire to amend the Agreement by revising the
compensation schedules set forth in Schedules A and B of the Agreement.
3. Effective October 13, 2003 the name of LFS was changed to Columbia
Funds Services, Inc. ("CFS") and the name of Liberty Funds Distributor, Inc. was
changed to Columbia Funds Distributor, Inc.
In consideration of the mutual promises and covenants set forth herein, the
parties hereto agree as follows:
AGREEMENT
1. Section 2 of the Agreement is deleted in its entirety and replaced
with the following:
"2. COMPENSATION. Each Fund shall pay to CFS for its services rendered
and its costs incurred in connection with the performance of its
duties hereunder, such compensation and reimbursement as may from time
to time be approved by the vote of the Directors/Trustees of the Fund.
Schedule A attached hereto sets forth the compensation and
reimbursement arrangements with respect to each class of the Columbia
Funds and the portfolios of CMG Fund trust and the treatment of all
interest earned with respect to balances in the accounts maintained by
CFS with the Funds' custodian (the "Custodian"), referred to in
paragraphs 6, 10 and 11 hereof, net of any charge by the custodian in
connection with such accounts, and all interest earned with respect to
balances in the accounts maintained by the Distributor for the
Columbia Funds, Columbia Funds Distributor, Inc., (the "Distributor"),
a subsidiary of
CMG, in connection with the sale and redemption of shares of the Fund,
net of any charges by the Distributor in connection with such
accounts."
2. The effective date of this Amendment shall be November 1, 2003.
3. In all other respects the Agreement shall remain in full force and
effect.
In WITNESS WHEREOF, the parties have caused this Amendment to be duly
executed as of the date first above written.
THE FUNDS LISTED ON APPENDIX I
XXXXXX X. XXXXXXX
-----------------------------
By: Xxxxxx X. Xxxxxxx
Title: President
COLUMBIA FUNDS SERVICES, INC.
XXXXXX X. XXXXXXX
-----------------------------
By: Xxxxxx X. Xxxxxxx
Title: President
SCHEDULE A
Terms used in the Schedule and not defined herein shall have the meaning
specified in the SHAREHOLDERS' SERVICING AND TRANSFER AGENT AGREEMENT dated
October 21, 2002, and as amended from time to time (the "Agreement"). Payments
under the Agreement to CFS shall be made in the first two weeks of the month
following the month in which a service is rendered or an expense incurred. This
Schedule A shall be effective as of November 1, 2002.
1. Each Fund shall pay CFS for the services to be provided by CFS under
the Agreement an amount equal to the sum of the following:
A monthly fee of
(a) $2.34 per account (Equity Funds)
$2.84 per account (Fixed Income Funds)
$2.79 per account (Money Market Funds)
(b) The Fund's allocated share of Reimbursable Out-of-Pocket Expenses
In addition, CFS shall be entitled to retain as additional compensation for
its services all CFS revenues for fees for wire, telephone, redemption and
exchange orders, XXX trustee agent fees and account transcripts due LFS
from shareholders of any Fund and interest (net of bank charges) earned
with respect to balances in the accounts referred to in paragraph 2 of the
Agreement.
2. All determinations hereunder shall be in accordance with generally
accepted accounting principles and subject to audit by the Fund's
independent accountants.
3. DEFINITIONS
"ALLOCATED SHARE" for any month means that percentage of Reimbursable
Out-of-Pocket Expenses which would be allocated to the Fund for such
month in accordance with the methodology described in Exhibit 1
hereto.
"REIMBURSABLE OUT-OF-POCKET EXPENSES" means (i) out-of-pocket expenses
incurred on behalf of the Fund by CFS for stationary, forms, postage
and similar items, (ii) networking account fees paid to dealer firms
by CFS on shareholder accounts established or maintained pursuant to
the National Securities Clearing Corporation's networking system,
(iii) the monthly fee of $1.84 per account paid by CFS to Columbia
Trust Company ("CTC") for services provided by CTC to retirement
participants pursuant to its MasterPlan product, (iv) the monthly fee
of $2.27 per account paid by LFS to CTC for services provided by CTC
to retirement plans and participants pursuant to its Pro Plan product
and (v) the monthly fee of one-twelfth of 0.25% charged by Upromise to
act as sub transfer agent on 529 accounts they maintain.
"FUND" means each of the open-end investment companies or series
thereof listed on Appendix I.
Agreed:
EACH FUND DESIGNATED IN APPENDIX I FROM TIME TO TIME
By: XXXXXX X. XXXXXXX
---------------------------------
Xxxxxx X. Xxxxxxx, President
COLUMBIA FUNDS SERVICES, INC.
By: XXXXXX X. XXXXXXX
---------------------------------
Xxxxxx X. Xxxxxxx, President
APPENDIX I
COLUMBIA FUNDS:
EQUITY
Columbia Common Stock Fund, Inc.
Columbia Growth Fund, Inc.
Columbia Special Fund, Inc.
Columbia Small Cap Fund, Inc.
Columbia Real Estate Equity Fund, Inc.
Columbia International Fund, Inc.
Columbia Technology Fund, Inc.
Columbia Strategic Value Fund, Inc.
Columbia Balanced Fund, Inc.
CMG Small Cap Fund
CMG Small Cap Growth Fund
CMG Small Cap Value Fund
CMG Small/Mid Cap Fund
CMG Mid Cap Growth Fund
CMG Mid Cap Value Fund
CMG Large Cap Growth Fund
CMG Large Cap Value Fund
CMG Enhanced S&P 500(R) Fund
CMG Emerging Markets Equity Fund
CMG International Stock Fund
CMG Strategic Equity Fund
MONEY MARKET
Columbia Daily Income Company
FIXED INCOME
Columbia Fixed Income Company, Inc.
Columbia Short Term Bond Fund, Inc.
Columbia High Yield Fund, Inc.
Columbia Oregon Municipal Bond Fund, Inc.
Columbia National Municipal Bond Fund, Inc.
CMG High Yield Fund
CMG Fixed Income Securities Fund
CMG Short Term Bond Fund
CMG International Bond Fund
CMG Core Plus Bond Fund
CMG Mortgage and Asset-Backed Securities Fund
CMG Corporate Bond Fund
CMG Government Bond Fund
