Exhibit h(vi) under Form N-1A
Exhibit (10) under Item 601/Reg. S-K
Amendment #5 to
Agreement for Fund Accounting Services
and Administrative Services
between
Federated Services Company
and
Hibernia Funds
This Amendment (the "Amendment") to the Agreement for Fund
Accounting Services and Administrative Services ("Agreement") between
the Hibernia Funds ("Investment Company"), on behalf of the portfolios
(individually referred to as a "Fund" and collectively as the "Funds")
of the Investment Company, listed on Exhibit 1 thereto and Federated
Services Company ("Company") is made and entered into as of the 1st day
of November, 2005. Terms used as defined terms herein, which are not
otherwise defined herein, shall have the meanings ascribed thereto in
the Agreement.
WHEREAS, the Investment Company has entered into the Agreement
with the Company; and
WHEREAS, Investment Company and Company wish to amend the
Agreement on the terms and conditions set forth herein.
NOW, THEREFORE, in consideration of the premises and mutual
covenants herein contained, and intending to be legally bound hereby,
the parties hereto agree as follows:
I. Article 24. Term and Termination of Agreement is hereby amended
by deleting the first paragraph and replacing it with the
following:
This Agreement shall be effective from the date first written
above and shall continue through May 31, 2006 (the "Initial
Renewal Term") The termination date for all original or
after-added Funds which are, or become, a party to this Agreement
shall be coterminous. Funds that merge or dissolve during the
Term, shall cease to be a party on the effective date of such
merger or dissolution. Thereafter, the Agreement will
automatically renew for successive periods of six months each
(each, a "Successive Renewal Term") absent notice of
termination/non-renewal received no less than 120 days prior to
the expiration of the then-current Initial Renewal Term or
Successive Renewal Term.
II. Exhibit 1 is hereby amended by deleting it in its entirety and
replacing it with the following:
I. Administrative Services
Company will render administrative services contemplated by the
Administrative Services Agreement in exchange for the following fees:
Assets in the Trust Basis Point Administrative
Services Fee
$0 to $500 million 10
$500 million to $1 billion 7
Amounts in excess of $1 billion 5
II. Fund Accounting
The State Street fee schedule for providing Fund Accounting and
Financial Administration to the Hibernia Funds is as follows:
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FEES - EXISTING FUNDS, NEW FUND START UPS
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A.) Existing Funds
First $100 Million 3.0 Basis Points
$100 to $300 Million 2.0 Basis Points
$300 to $500 Million 1.0 Basis Points
Excess 0.5 Basis Points
Minimum per fund $42,000 plus other annual fees
Other annual fees:
Tax Services $10,000 per fund
N-Q filing Services $4,000 per fund
Additional class $12,000 per class
B.) New Fund start ups and new class of shares
For each new fund and new class of shares, the fee shall be
incremented as follows:
Months 1 - 3 Waive Fixed and BP charge
After 3 months Xxxx at existing fund
structure
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VALUATION FEE
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For billing purposes, the monthly quote charge will be billed at
cost plus a monthly maintenance charge of $375 per month.
Source:
Corporate, Municipal, Convertible, Government Bonds and
Adjustable Rate Preferred Stocks via Bridge
Government, Corporate Bonds via XX Xxxxx
Government, Corporate and Convertible Bonds via Xxxxxxx Xxxxx
Foreign Bonds via FRI Corporation
Options, Futures and Private Placements
Listed Equities (including International) and OTC Equities
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SPECIAL SERVICES
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Fees for activities of a non-recurring nature such as fund
consolidations or reorganizations, extraordinary security
shipments and the preparation of special reports will be as
agreed to by the parties hereto.
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OUT-OF-POCKET EXPENSES
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Domestic out -of- pocket charges typically included, but not
limited to postage, mailing services, telephone line and long
distance charges, overnight mailing services, record retention
will be waived.
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PAYMENT
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The above fees will be charged monthly against the fund's
custodian checking account five (5) days after the invoice is
mailed to the Fund's offices.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment
to be executed in their names and on their behalf by and through their
duly authorized officers, as of the day and year first above written.
HIBERNIA FUNDS
(listed on Exhibit 1 of the
Agreement)
By: /s/ Xxxxxx X. Xxxxxx
---------------------------
Name: Xxxxxx X. Xxxxxx
Title: Vice President
FEDERATED SERVICES COMPANY
By: /s/ Xxxxxxx X. Xxxxx, Xx.
---------------------------------
Name: Xxxxxxx X. Xxxxx, Xx.
Title: Vice President
