EXHIBIT 99.h
EXHIBIT 23(H)(2)(K)
FORM OF ADMINISTRATIVE SERVICES AGREEMENT
FOR IDEX JCC GROWTH & INCOME AND
IDEX MUNDER NET50
IDEX MUTUAL FUNDS
ADMINISTRATIVE SERVICES AGREEMENT - A
This agreement is entered as of March 1, 2000 by IDEX MANANGEMENT, INC., a
Delaware corporation ("Idex Management"), and INTERSECURITIES, INC., a Delaware
corporation (the "Distributor").
WHEREAS, Idex Management has entered into Management and Investment Advisory
Agreements (referred to herein as the "Advisory Agreements") dated March 1, 1999
and March 1, 2000, respectively, with IDEX Mutual Funds, a Massachusetts
business trust (referred to herein as the "Trust"), under which Idex Management
has agreed among other things, to provide management and administrative services
to certain series of beneficial interest in the Trust. (See Schedule A)
WHEREAS, the Advisory Agreements provides that Idex Management may engage the
Distributor to furnish it with management and administrative services to assist
Idex Management in carrying out certain of its functions under the Advisory
Agreements.
WHEREAS, it is the purpose of this Agreement to express the mutual agreement of
the parties hereto with respect to the services to be provided by the
Distributor to Idex Management and the terms and conditions under which such
services will be rendered.
NOW, THEREFORE, in consideration of the mutual covenants and agreements set
forth herein, the parties hereto agree as follows:
1. SERVICES OF THE DISTRIBUTOR. The Distributor shall provide executive
and management services to Idex Management and the Funds. Subject to
the overall supervision of Idex Management and the Trustees, the
Distributor shall furnish to the Funds the services of executive and
administrative personnel to supervise the performance of all
administrative, recordkeeping, shareholder relations, regulatory
reporting and compliance, and all other functions of the Funds other
than the investment function, and shall supervise and coordinate the
Trust's Custodian and its Transfer Agent and monitor their services to
the Funds. The Distributor shall also assist Idex Management and the
Funds in maintaining communications and relations with shareholders of
the Funds, answer shareholder inquiries or supervise such activity by
the Trust's transfer agent, assist in preparations of reports to
shareholders of the Funds and prepare sales literature promoting the
sale of the Trust's shares as requested by Idex Management and the
Funds. The Distributor shall provide the Funds with necessary office
space, telephones and other communications facilities.
2. OBLIGATIONS OF IDEX MANAGEMENT. Idex Management shall have the
following obligations under this Agreement:
(a) to provide the Distributor with access to all information,
documents and records of and about the Funds that are
necessary to permit the Distributor to carry out its functions
and responsibilities under this Agreement;
(b) to furnish the Distributor with a certified copy of any
financial statement or report prepared for the Funds by
certified or independent public accountants, and with copies
of any financial statement or reports made by the Funds to its
shareholders or to any governmental body or security exchange;
(c) to compensate the Distributor for its services under this
Agreement by the payment of fees equal to (i) gross Advisory
Fees pursuant to Schedule A of the Advisory Agreements,
less(ii) gross Sub-Advisory Fees pursuant to Schedule A of the
Investment Counsel Agreement, less (iii) the Distributor's
share of any amount reimbursed to the Fund by Idex Management
pursuant to the provisions of Section 4(c) of the Advisory
Agreements. In the event that this Agreement shall be
effective for only part of a period to which any such fee
received by Idex Management is attributable, then an
appropriate proration of the fee that would have been payable
hereunder if this Agreement had remained in effect until the
end of such period shall be made, based on the number of
calendar days in such period and the number of calendar days
during the period which this Agreement was in effect. The fees
payable to the Distributor hereunder shall be payable upon
receipt by Idex Management from each Fund of fees payable to
Idex Management under the Advisory Agreements.
3. INVESTMENT COMPANY ACT COMPLIANCE. In performing services hereunder,
the Distributor shall at all times comply with the applicable
provisions of the Investment Company Act of 1940, as amended (the "1940
Act") and any other federal or state securities laws.
4. PURCHASES BY AFFILIATES. Neither the Distributor nor any of its
officers shall take a long or short position in the securities issued
by each Fund. The prohibition, however shall not prevent the purchase
from the Fund of shares issued by the Fund by the officers and
Directors of the Distributor (or deferred benefit plans established for
their benefit) at the current price available to the public, or at such
price with reductions in sales charge as may be permitted by the Fund's
current prospectus, in accordance with Section 22 of the 1940 Act.
5. TERMS AND TERMINATION. This Agreement shall continue in effect until
terminated pursuant to the provisions hereof. This Agreement shall
terminate automatically upon the termination of the Advisory
Agreements. This Agreement may be terminated at any time, without
penalty, by Idex Management or by the Trust by giving 60 days' written
notice of such termination to the Distributor at its principal place of
business, or may be terminated at any time by the Distributor by giving
60 days' written notice of such termination to the Trust and Idex
Management at their respective places of business.
6. ASSIGNMENT. This Agreement shall terminate automatically in the event
of any assignment (as that term is defined in Section 2(a)(4) of the
1940 Act of this Agreement.
7. AMENDMENTS. This Agreement may be amended only by written instrument
signed by the parties hereto.
8. PRIOR AGREEMENTS. This Agreement supersedes all prior agreements
between the parties relating to the subject matter hereof, and all such
prior agreements are deemed terminated upon the effectiveness of this
Agreement.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
date firs above written.
ATTEST: INTERSECURITIES, INC.
By: /s/ XXXXXXX XXXXXX By: /s/ XXXXXX X. XXXXXXXX
--------------------------- ----------------------------------
Secretary Xxxxxx X. Xxxxxxxx
Chairman of the Board
ATTEST: IDEX MANAGEMENT, INC.
By: /s/ XXXXXXX XXXXXX By: /s/ XXXX X. XXXXXX
--------------------------- ---------------------------
Secretary Xxxx X. Xxxxxx
Vice President, Counsel,
Assistant Secretary and Compliance
Officer
SCHEDULE A
As Amended, December 1, 2000
FUNDS
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IDEX GE U.S. Equity
IDEX Xxxx Price Small Cap
IDEX Pilgrim Xxxxxx Mid Cap Growth
IDEX Xxxxxxx Xxxxx Growth
IDEX Salomon All Cap
IDEX GE U.S. Equity
IDEX Pilgrim Xxxxxx Technology
IDEX Transamerica Small Company
IDEX Transamerica Equity
IDEX Great Companies - America(SM)
IDEX Great Companies - Technology(SM)
IDEX Great Companies - Global(2)
IDEX Gabelli Global Growth
IDEX JCC Growth & Income
IDEX Munder Net50
