Exhibit No. 13(b)
PLAN AGREEMENT
Xxxxxxxx Xxxxxxxx LIR Money Series
00 Xxxx 00xx Xxxxxx
Xxx Xxxx, XX 00000-0000
Ladies and Gentlemen:
We wish to enter into an Agreement with XXXXXXXX XXXXXXXX LIR
MONEY SERIES (the "Fund") to provide the services described below to
shareholders of each series of the Fund set forth on Exhibit A hereto
("Shareholders"), as such Exhibit may be revised from time to time (each, a
"Series").
The terms and conditions of this Agreement are as follows:
1. We agree to enter into agreements with certain correspondent
firms and other financial services firms ("Securities Firms") which are expected
to engage in activities or incur expenses primarily intended to result in the
sale of the Shares of the Series or the servicing and maintenance of Shareholder
accounts, including for their Shareholders who own shares of any Series
("Shares"), which services or activities may include, without limitation:
providing telephone and other communications facilities, answering Shareholder
inquiries about the Fund or any Series; assisting Shareholders in changing
dividend options, account designations and addresses; performing sub-accounting
or other services; establishing and maintaining Shareholder accounts and
records; processing Shareholder transactions; transmitting Fund communications
to Shareholders; providing prospectuses, statements of additional information,
and reports to other than existing Shareholders; preparing, printing and
distributing sales literature and advertising materials; investing Shareholder
account cash balances automatically in Shares; providing periodic statements
showing a Shareholder's account balance and integrating such statements with
those of other transactions and balances in the Shareholder's other accounts
serviced by the Securities Firm; arranging for bank wires; and providing such
other information and services as the Shareholders reasonably may request, to
the extent the Securities Firm is permitted by applicable statute, rule or
regulation. We will advise each Securities Firm to provide to Shareholders a
schedule of the services the Securities Firm will provide and of any fees that
the Security Firm may charge directly to them for such services.
2. We shall provide such office space and equipment, telephone
facilities and personnel (which may be all or any part of the space, equipment
and facilities currently used in our business, or all or any personnel employed
by us) as is necessary or beneficial for providing the services contemplated
hereby. We shall transmit promptly to each Securities Firm for transmission to
its clients all communications sent to us for transmission to Shareholders by or
on behalf of any Series, the Fund's investment adviser, distributor, custodian
or transfer or dividend disbursing agent.
3. We agree that neither we nor any of our employees or agents are
authorized to make any representation concerning any Shares, except those
contained in the then-current
Prospectus and Statement of Additional Information for such Series, copies of
which will be supplied to us. We shall have no authority to act as the Fund's
agent or for the Fund's distributor.
4. In consideration of the services and facilities described
herein, we shall be entitled to receive from the Fund, and the Fund agrees to
pay to us with respect to each Series, the fees set forth opposite such Series'
name on Exhibit A hereto. We agree to pay a portion of the aggregate fee paid
hereunder to the Securities Firms. We understand that the payment of these fees
has been authorized and will be paid pursuant to a Plan of Distribution approved
as required by Rule 12b-1 of the Investment Company Act of 1940, as amended (the
"1940 Act") (the "Plan"), and any payments pursuant to this Agreement shall be
paid only so long as the Plan is in effect.
5. The Fund reserves the right, at its discretion and without
notice, to suspend then sale of Shares or withdraw the sale of any Series'
Shares.
6. We acknowledge that this Agreement shall become effective, as
to a Series, only when approved by vote of a majority of (i) the Fund's Board of
Trustees and (ii) Trustees who are not "interested persons" (as defined in the
0000 Xxx) of the Fund and who have no direct or indirect financial interest in
this Agreement ("Independent Trustees"), cast in person at a meeting called for
the purpose of voting on such approval.
7. As to each Series, this Agreement shall continue for a period
of one year from the date of this Agreement, and thereafter shall continue
automatically for successive annual periods, provided such continuance is
approved specifically at least annually by a vote of a majority of (i) the
Fund's Board of Trustees and (ii) the Funds' Independent Trustees, or by vote of
the holders of a majority of such Series' Shares. Notwithstanding anything
contained herein, if, as to one or more Series, the Plan is terminated by the
Fund's Board of Trustees, or the Plan, or any part thereof, is found invalid or
is ordered terminated by any regulatory or judicial authority, or we fail to
perform the services contemplated herein, this Agreement shall be terminable, as
to the relevant Series, effective upon receipt of notice thereof by us. This
Agreement also shall terminate automatically, as to the relevant Series, in the
event of its assignment (as defined in the 1940 Act).
8. All communications to the Fund shall be sent to the Fund at the
address set forth above. Any notice to us shall be duly given if mailed or
telegraphed to us at the following address: Correspondent Services Corporation
[csc], 0000 Xxxxxx Xxxx., 0xx Xxxxx, Xxxxxxxxx, XX 00000.
9. This Agreement shall be construed in accordance with the
internal laws of the State of New York, without giving effective to principles
of conflict of laws.
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Very truly yours,
CORRESPONDENT SERVICES CORPORATION
Date 1/20/00 By: /s/ Xxxxxxx Xxxxxx
-------------------
Authorized Signature
NOTE: Please return both signed copies of this Agreement to the Fund. Upon
acceptance one countersigned copy will be returned for your files.
Accepted:
XXXXXXXX XXXXXXXX LIR MONEY SERIES
Date:__________________ By: /s/ Xxxxx X. Xxxxxx
--------------------
Vice President and
Assistant Secretary
January 12, 2000
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EXHIBIT A
Plan Agreement
between
XXXXXXXX XXXXXXXX LIR MONEY SERIES
and
CORRESPONDENT SERVICES CORPORATION
MONTHLY FEE AT AN ANNUAL
RATE AS A PERCENTAGE
OF AVERAGE DAILY NET
ASSET VALUE OF SERIES'
NAME OF SERIES SHARES OWNED BY CLIENTS*
-------------- ------------------------
LIR Premier
Money Market Fund .60 of 1%
LIR Premier
Tax-Free Money Market Fund .60 of 1%
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* For purposes of determining the fees payable hereunder, the average daily net
asset value of Series' Shares shall be computed in the manner specified in the
Fund's Trust Instrument and then-current Prospectus and Statement of Additional
Information.
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