Exhibit (8)(e)
FIRST AMERICAN INVESTMENT FUNDS, INC.
COMPENSATION AGREEMENT DATED AS OF NOVEMBER 21, 1997
PURSUANT TO CUSTODIAN AGREEMENT
WHEREAS, First American Investment Funds, Inc., a Maryland corporation
(hereinafter called the "Fund"), and First Trust National Association, a
national banking association organized and existing under the laws of the United
States of America with its principal place of business at Minneapolis, Minnesota
(hereinafter called the "Custodian"), previously entered into that Custodian
Agreement dated September 30, 1993 (the "Custodian Agreement"); and
WHEREAS, Article 12 of the Custodian Agreement provides that the Custodian
shall be paid compensation at such rates and at such times as may from time to
time be agreed on in writing by the parties thereto; and
WHEREAS, the Fund and the Custodian previously entered into that
Compensation Agreement dated as of August 5, 1997, for such purpose with respect
to the then-existing series of the Fund; and
WHEREAS, the Fund and the Custodian wish to amend such compensation
agreement in order to add provisions thereto relating to Small Cap Value Fund
and International Index Fund.
NOW, THEREFORE, the Fund and the Custodian agree as follows:
1. The Compensation payable to the Custodian pursuant to the Custodian
Agreement with respect to the respective series of the Fund shall be
payable monthly at the following annual rates as percentages of the
respective series' average daily net assets: Stock Fund, Equity Index
Fund, Balanced Fund, Asset Allocation Fund, Regional Equity Fund,
Special Equity Fund, Limited Term Income Fund, Intermediate Term
Income Fund, Fixed Income Fund, Intermediate Government Bond Fund,
Health Sciences Fund, Real Estate Securities Fund, Equity Income Fund,
Diversified Growth Fund, Emerging Growth Fund, Technology Fund,
Intermediate Tax Free Fund, Minnesota Insured Intermediate Tax Free
Fund, Colorado Intermediate Tax Free Fund, Oregon Intermediate Tax
Free Fund, California Intermediate Tax Free Fund, Micro Cap Value
Fund, and Small Cap Value Fund, .03%; International Index Fund, 0.10%;
and International Fund, 0.25%. The Custodian shall pay subcustodian
fees with respect to International Fund out of the compensation
payable to the Custodian with respect to such fund as set forth above.
The Fund shall reimburse the Custodian for all other out-of-pocket
expenses incurred by the Custodian in connection with the performance
of the Custodian's services under the Custodian Agreement.
2. This Compensation Agreement restates and supersedes all prior
compensation agreements pursuant to Article 12 of the Custodian
Agreement.
IN WITNESS WHEREOF, the Fund and the Custodian have caused this instrument
to be executed in duplicate as of the date first above written by their duly
authorized officers.
FIRST AMERICAN INVESTMENT FUNDS, INC.
By /s/ Xxxxxxx Xxxxxxx
Its VP
FIRST TRUST NATIONAL ASSOCIATION
By /s/ Xxxx Xxxxxx
Its VP
