EXHIBIT (8)(K)
CUSTODIAN AGREEMENT
(Addition of the Balanced Income Fund)
Firstar Trust Company
X.X. Xxx 0000
Xxxxxxxxx, XX 00000
Gentlemen:
Pursuant to Paragraph 16 of the Custodian Agreement dated as of
July 29, 1988 and amended as of May 1, 1990, between you and Portico Funds, Inc.
(formerly, Elan Funds, Inc.) (the "Company"), the Company requests that you
render services as Custodian under the terms of said agreement with respect to
the Balanced Income Fund, an additional portfolio which the Company is
establishing. Your compensation for the services provided under said agreement
for said additional portfolio shall be determined in accordance with the fee
schedule attached hereto.
Please sign two copies of this letter where indicated to signify your
agreement to serve as Custodian and to the compensation terms set forth on the
attached fee schedule.
Sincerely,
Dated: December 1, 1997 PORTICO FUNDS, INC.
By:/s/ Xxxxxx X. Xxxxxx
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(Authorized Officer)
ACKNOWLEDGED AND AGREED:
FIRSTAR TRUST COMPANY
By:/s/ Xxxxxx X. Xxxxxxxxx Dated: December 1, 1997
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(Authorized Officer)
FIRSTAR TRUST COMPANY
MUTUAL FUND SERVICES
MUTUAL FUND CUSTODIAL AGENT SERVICE ANNUAL FEE SCHEDULE
FOR
Balanced Income Fund
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Annual Fee Per Fund based on market value of assets:
$ .20 per $1,000 on the first $2 billion market value of assets
$ .15 per $1,000 on the next $2 billion market value of assets
$ .10 per $1,000 on the balance of the market value of assets.
Investment Transactions: Purchase, sale, exchange, tender, redemption
(maturity), receipt and delivery.
$12.00 per Book Entry Securities (Depository or Federal
Reserve System).
$25.00 per Definitive Securities (Physical).
$75.00 per Euroclear.
$ 8.00 per Principal reduction on pass-through certificates.
$35.00 per Option/Futures Contract.
$10.00 per variation margin transaction.
$25.00 per Mutual Fund trade.
$12.00 per Fed Wire deposit or withdrawal.
$12.00 per Commercial Paper.
$12.00 per Repurchase Agreement.
Extraordinary expenses based on time and complexity involved.
Out-of-Pocket Expenses: Charged on the account.
Fees are billed monthly based on the value at the beginning of the month.
