FUND ACCOUNTING AGREEMENT
AGREEMENT made this __ day of October, 1998, between XXXX XXXXXXXXX
VARIABLE INSURANCE TRUST (the "Trust"), a Massachusetts business trust, and
BISYS FUND SERVICES OHIO, INC. (the "Fund Accountant"), a corporation organized
under the laws of the State of Ohio.
WHEREAS, the Trust desires that the Fund Accountant perform certain
fund accounting services for each investment portfolio of the Trust, all as now
or hereafter may be established from time to time (individually referred to
herein as a "Fund" and collectively as the "Funds"); and
WHEREAS, the Fund Accountant is willing to perform such services on the
terms and conditions set forth in this Agreement;
NOW, THEREFORE, in consideration of the mutual premises and covenants
herein set forth, the parties agree as follows:
1. Services as the Fund Accountant.
(a) MAINTENANCE OF BOOKS AND RECORDS. The Fund Accountant
will keep and maintain the following books and
records of each Fund pursuant to Rule 31a-1 under the
Investment Company Act of 1940 (the "Rule"):
(i) Journals containing an itemized daily record
in detail of all purchases and sales of
securities, all receipts and disbursements
of cash and all other debits and credits, as
required by subsection (b)(i) of the Rule;
(ii) General and auxiliary ledgers reflecting all
asset, liability, reserve, capital, income
and expense accounts, including interest
accrued and interest received, as required
by subsection (b)(2)(I) of the Rule;
(iii) Separate ledger accounts required by
subsection (b)(2)(ii) and (iii) of the Rule;
and
(iv) A monthly trial balance of all ledger
accounts (except shareholder accounts) as
required by subsection (b)(8) of the Rule.
(b) PERFORMANCE OF DAILY ACCOUNTING SERVICES. In addition
to the maintenance of the books and records specified
above, the Fund Accountant shall perform the
following accounting services daily for each Fund:
(i) Calculate the net asset value per share
utilizing prices obtained from the sources
described in subsection 1(b)(ii) below;
(ii) Obtain security prices from independent
pricing services, or if such quotes are
unavailable, then obtain such prices from
each Fund's investment adviser or its
designee, as approved by the Trust's Board
of Trustees;
(iii) Verify and reconcile with the Fund's
custodian all daily trade activity;
(iv) Compute, as appropriate, each Fund's net
income and capital gains, dividend payables,
dividend factors, 7-day yields, 7-day
effective yields, 30-day yields, and
weighted average portfolio maturity;
(v) Review daily the net asset value calculation
and dividend factor (if any) for each Fund
prior to release to shareholders, check and
confirm the net asset values and dividend
factors for reasonableness and deviations,
and distribute net asset values and yields
to NASDAQ;
(vi) Report to the Trust the daily market pricing
of securities in any money market Funds,
with the comparison to the amortized cost
basis;
(vii) Determine unrealized appreciation and
depreciation on securities held in variable
net asset value Funds;
(viii) Amortize premiums and accrete discounts on
securities purchased at a price other than
face value, if requested by the Trust;
(ix) Update fund accounting system to reflect
rate changes, as received from a Fund's
investment adviser, on variable interest
rate instruments;
(x) Post Fund transactions to appropriate
categories;
(xi) Accrue expenses of each Fund according to
instructions received from the Trust's
Administrator;
(xii) Determine the outstanding receivables and
payables for all (1) security trades, (2)
Fund share transactions and (3) income and
expense accounts;
(xiii) Provide accounting reports in connection
with the Trust's regular annual audit and
other audits and examinations by regulatory
agencies; and
(xiv) Provide such periodic reports as the parties
shall agree upon, as set forth in a separate
schedule.
(c) SPECIAL REPORTS AND SERVICES.
(i) The Fund Accountant may provide additional
special reports upon the request of the
Trust or a Fund's investment adviser, which
may result in an additional charge, the
amount of which shall be agreed upon between
the parties.
(ii) The Fund Accountant may provide such other
similar services with respect to a Fund as
may be reasonably requested by the Trust,
which may result in an additional charge,
the amount of which shall be agreed upon
between the parties.
(d) ADDITIONAL ACCOUNTING SERVICES. The Fund Accountant
shall also perform the following additional
accounting services for each Fund:
(i) Provide monthly a download (and hard copy
thereof) of the financial statements
described below, upon request of the Trust.
The download will include the following
items:
Schedule of Investments,
Cash Statement,
Schedule of Capital Gains and Losses,
Statement of Assets and Liabilities,
Statement of Operations,
Statement of Changes in Net Assets, and
Condensed Financial Information;
(ii) Provide accounting information for the
following:
(A) federal and state income tax returns
and federal excise tax returns;
(B) the Trust's semi-annual reports with
the Securities and Exchange
Commission ("SEC") on Form N-SAR;
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(C) the Trust's annual, semi-annual and
quarterly (if any) shareholder
reports;
(D) registration statements on Form N-1A
and other filings relating to the
registration of Shares;
(E) the Administrator's monitoring of
the Trust's status as a regulated
investment company under Subchapter
M of the Internal Revenue Code, as
amended;
(F) annual audit by the Trust's
auditors; and
(G) examinations performed by the SEC.
2. SUBCONTRACTING.
The Fund Accountant may, at its expense and with the written
consent of the Trust, subcontract with any entity or person concerning the
provision of the services contemplated hereunder; provided, however, that the
Fund Accountant shall not be relieved of any of its obligations under this
Agreement by the appointment of such subcontractor and provided further, that
the Fund Accountant shall be responsible, to the extent provided in Section 7
hereof, for all acts of such subcontractor as if such acts were its own.
3. COMPENSATION.
The Trust shall pay the Fund Accountant for the services to be
provided by the Fund Accountant under this Agreement in accordance with, and in
the manner set forth in, Schedule A hereto, as such Schedule may be amended from
time to time.
4. REIMBURSEMENT OF EXPENSES.
In addition to paying the Fund Accountant the fees described
in Section 3 hereof, the Trust agrees to reimburse the Fund Accountant for the
Fund Accountant's reasonable out-of-pocket expenses in providing services
hereunder, including, but not limited to, the following:
(a) All direct telephone, telephone transmission and telecopy or
other electronic transmission expenses incurred by the Fund
Accountant in communication with the Trust, the Trust's
investment advisor or custodian, dealers or others as required
for the Fund Accountant to perform the services to be provided
hereunder;
(b) The cost of obtaining security market quotes pursuant to
Section l(b)(ii) above;
(c) All systems-related expenses associated with the provision of
special reports and
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services pursuant to Section 1(c) above;
(d) All freight and other delivery and bonding charges incurred by
BISYS in delivering materials to and from the Trust and in
delivering all materials to shareholders;
(e) Costs of postage, couriers, stock computer paper, statements,
labels, envelopes, checks, reports, letters, tax forms,
proxies, notices or other form of printed material which shall
be required by BISYS for the performance of the services to be
provided hereunder;
(f) The cost of microfilm or microfiche of records or other
materials; and
(g) Any expenses the Fund Accountant shall incur at the written
direction of an officer of the Trust (other than an officer of
the Trust who is also an employee of BISYS) thereunto duly
authorized.
5. EFFECTIVE DATE.
This Agreement shall become effective with respect to a Fund
as of the date first written above.
6. TERM.
The initial term of this Agreement (the "Initial Term") shall
be for a period commencing on the date first written above and ending on October
1, 1999. This Agreement shall be renewed automatically for successive one-year
terms unless written notice not to renew is given by the non-renewing party to
the other party at least 60 days prior to the expiration of the then-current
term; provided, however, that, after the Initial Term, (i) the Trust may
terminate this Agreement at any time, without the payment of any penalty, by a
vote of a majority of the Trust's outstanding voting securities (as defined in
the 0000 Xxx) or by vote of a majority of the Trustees of the Trust on 60 days'
written notice to the Fund Accountant and (ii) the Fund Accountant may terminate
this Agreement at any time, without penalty, on 60 days' written notice to the
Trust; and, provided, further, that after this Agreement is terminated, for so
long as the Fund Accountant, with the written consent of the Trust, in fact
continues to perform any one or more of the services contemplated by this
Agreement or any schedule or exhibit hereto, the provisions of this Agreement,
including without limitation the provisions dealing with indemnification, shall
continue in full force and effect. Compensation due the Fund Accountant and
unpaid by the Trust upon such termination shall be immediately due and payable
upon and notwithstanding such termination. The Fund Accountant shall be entitled
to collect from the Trust, in addition to the compensation described under
Section 3 hereof, the amount of all of the Fund Accountant's reasonable cash
disbursements for services in connection with the Fund Accountant's activities
in effecting such termination, including without limitation, the delivery to the
Trust and/or its designees of the Trust's property, records, instruments and
documents, or any copies thereof. Subsequent to such termination, for a
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reasonable fee, the Fund Accountant will provide the Trust with reasonable
access to any Trust documents or records remaining in its possession.
In the event of a material breach of this Agreement by either
party, the non-breaching party shall notify the breaching party in writing of
such breach and, upon receipt of such notice, the breaching party shall have 45
days to remedy the breach. In the event the breach is not remedied within such
time period, the nonbreaching party may immediately terminate this Agreement.
If, for any reason other than a material breach of this
Agreement or termination of this Agreement by the Trust after the Initial Term,
the Fund Accountant is replaced as the Fund Accountant, or if a third party is
added to perform all or a part of the services provided by the Fund Accountant
under this Agreement (excluding any sub-accountant appointed by the Fund
Accountant as provided in Section 2 hereof), then the Trust shall make a
one-time cash payment, as liquidated damages, to the Fund Accountant equal to
the balance due the Fund Accountant for the remainder of the term of this
Agreement, assuming for purposes of calculation of the payment that the asset
level of the Trust on the date the Fund Accountant is replaced, or a third party
is added, will remain constant for the balance of the contract term.
In the event the Trust is merged into another legal entity in
part or in whole or is otherwise liquidated in part or in whole pursuant to a
business reorganization prior to the expiration of the Initial Term of this
Agreement, the parties acknowledge and agree that (i) the liquidated damages
provision set forth above shall be applicable in those instances in which the
Fund Accountant is not retained to provide fund accounting services and (ii) for
purposes of calculating the payment amount representing liquidated damages, the
appropriate asset level of the Trust shall be the greater of: (i) the asset
level calculated for the Trust at the time the Trust's Board of Trustees
receives notification of an intention on the part of Fund management to effect
such a business reorganization or liquidation; (ii) the asset level calculated
for the Trust at the time the Trust's Board of Trustees formally approves such a
business reorganization or liquidation; or (iii) the asset level calculated for
the Trust on the day prior to the first day during which assets are transferred
by the Trust pursuant to the plan of reorganization or liquidation. The one-time
cash payment referenced above shall be due and payable on the day prior to the
first day during which assets are transferred to the surviving entity pursuant
to the plan of reorganization.
The parties further acknowledge and agree that, in the event
the Fund Accountant is replaced, or a third party is added as set forth above,
(i) a determination of actual damages incurred by the Fund Accountant would be
extremely difficult, and (ii) the liquidated damages provision contained herein
is intended to adequately compensate the Fund Accountant for damages incurred
and is not intended to constitute any form of penalty.
7. STANDARD OF CARE; RELIANCE ON RECORDS AND INSTRUCTIONS;
INDEMNIFICATION.
The Fund Accountant shall use its best efforts to ensure the
accuracy of all services performed under this Agreement, but shall not be liable
to the Trust for any action taken or omitted
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by the Fund Accountant in the absence of bad faith, willful misfeasance,
negligence or reckless disregard by it of its obligations and duties. The Trust
agrees to indemnify and hold harmless the Fund Accountant, its employees,
agents, directors, officers and nominees from and against any and all claims,
demands, actions and suits, whether groundless or otherwise, and from and
against any and all judgments, liabilities, losses, damages, costs, charges,
reasonable counsel fees and other reasonable expenses of every nature and
character arising out of or in any way relating to the Fund Accountant's actions
taken or nonactions with respect to the performance of services under this
Agreement or based, if applicable, upon reasonable reliance on information,
records, instructions or requests with respect to a Fund given or made to the
Fund Accountant by a duly authorized representative of the Trust; provided that
this indemnification shall not apply to actions or omissions of the Fund
Accountant or its employees, agents, directors, officers or nominees in cases of
their own bad faith, willful misfeasance, negligence or reckless disregard by
any or all of them of the Fund Accountant's obligations and duties, and further
provided that prior to confessing any claim against it which may be the subject
of this indemnification, the Fund Accountant shall give the Trust written notice
of and reasonable opportunity to defend against said claim in its own name or in
the name of the Fund Accountant.
The Fund Accountant agrees to indemnify and hold harmless the
Trust, its employees, agents, Trustees, officers and nominees from and against
any and all actions, suits, demands and claims, whether groundless or otherwise,
and from and against any and all judgments, liabilities, losses, damages, costs,
charges, reasonable counsel fees and other expenses of every nature and
character arising out of or in any way relating to the Fund Accountant's or its
employees', agents', directors', officers' or nominees' bad faith, willful
misfeasance, negligence or reckless disregard by any or all of them of the Fund
Accountant's obligations and duties with respect to the performance of services
under this Agreement; provided, that, prior to confessing any claim against it
which may be the subject of this indemnification, the Trust shall give the Fund
Accountant written notice of and a reasonable opportunity to defend against said
claim in its own name or in the name of the Trust.
The rights hereunder shall include the right to reasonable advances of
defense expenses in the event of any pending or threatened litigation with
respect to which indemnification hereunder may ultimately be merited. In order
that the indemnification provisions contained herein shall apply, however, it is
understood that if in any case the indemnifying party may be asked to indemnify
or hold the other party harmless, the indemnifying party shall be fully and
promptly advised of all pertinent facts concerning the situation in question,
and it is further understood that the indemnified party will use all reasonable
care to identify and notify the indemnifying party promptly concerning any
situation which presents or appears likely to present the probability of such a
claim for indemnification against the indemnifying party, but failure to do so
in good faith shall not affect the rights hereunder.
The indemnifying party shall be entitled to participate at its own
expense or, if it so elects, to assume the defense of any suit brought to
enforce any claims subject to this indemnity provision. If the indemnifying
party elects to assume the defense of any such claim, the defense shall be
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conducted by counsel chosen by the indemnifying party and satisfactory to the
other party, whose approval shall not be unreasonably withheld. In the event
that the indemnifying party elects to assume the defense of any suit and retain
counsel, the indemnified party shall bear the fees and expenses of any
additional counsel retained by it. If the indemnifying party does not elect to
assume the defense of a suit, it will reimburse the indemnified party for the
reasonable fees and expenses of any counsel retained by the other party.
8. RECORD RETENTION AND CONFIDENTIALITY.
The Fund Accountant shall keep and maintain on behalf of the
Trust all books and records which the Trust and the Fund Accountant is, or may
be, required to keep and maintain pursuant to any applicable statutes, rules and
regulations, including without limitation Rules 31a-1 and 31a-2 under the
Investment Company Act of 1940, as amended (the "1940 Act"), relating to the
maintenance of books and records in connection with the services to be provided
hereunder. The Fund Accountant further agrees that all such books and records
shall be the property of the Trust and to make such books and records available
for inspection by the Trust or by the SEC at reasonable times and otherwise to
keep confidential all books and records and other information relative to the
Trust and its shareholders; except when requested to divulge such information by
duly-constituted authorities or court process.
9. UNCONTROLLABLE EVENTS.
The Fund Accountant assumes no responsibility hereunder, and
shall not be liable, for any damage, loss of data, delay or any other loss
whatsoever caused by events beyond its reasonable control.
10. REPORTS.
The Fund Accountant will furnish to the Trust and to its
properly authorized auditors, investment advisers, examiners, distributors,
dealers, underwriters, salesmen, insurance companies and others designated by
the Trust in writing, such reports and at such times as are prescribed pursuant
to the terms and the conditions of this Agreement to be provided or completed by
the Fund Accountant, or as subsequently agreed upon by the parties pursuant to
an amendment hereto.
11. RIGHTS OF OWNERSHIP.
All computer programs and procedures developed to perform
services required to be provided by the Fund Accountant under this Agreement are
the property of the Fund Accountant. All records and other data except such
computer programs and procedures are the exclusive property of the Trust and all
such other records and data will be furnished to the Trust in appropriate form
as soon as practicable after termination of this Agreement for any reason.
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12. RETURN OF RECORDS.
The Fund Accountant may at its option at any time, and shall
promptly upon the Trust's demand, turn over to the Trust and cease to retain the
Fund Accountant's files, records and documents created and maintained by the
Fund Accountant pursuant to this Agreement which are no longer needed by the
Fund Accountant in the performance of its services or for its legal protection.
If not so turned over to the Trust, such documents and records will be retained
by the Fund Accountant for six years from the year of creation. At the end of
such six-year period, such records and documents will be turned over to the
Trust unless the Trust authorizes in writing the destruction of such records and
documents.
13. REPRESENTATIONS OF THE TRUST.
The Trust certifies to the Fund Accountant that: (1) as of
the close of business on each Conversion Date, each Fund that is in
existence as of the Conversion Date has authorized unlimited shares, and (2)
this Agreement has been duly authorized by the Trust and, when executed and
delivered by the Trust, will constitute a legal, valid and binding obligation
of the Trust, enforceable against the Trust in accordance with its terms,
subject to bankruptcy, insolvency, reorganization, moratorium and other laws
of general application affecting the rights and remedies of creditors and
secured parties and general principles of equity.
14. REPRESENTATIONS OF THE FUND ACCOUNTANT.
The Fund Accountant represents and warrants that: (1) the
various procedures and systems which the Fund Accountant has implemented with
regard to safeguarding from loss or damage attributable to fire, theft, or any
other cause the records, and other data of the Trust and the Fund Accountant's
records, data, equipment, facilities and other property used in the performance
of its obligations hereunder are adequate and that it will make such changes
therein from time to time as are required for the secure performance of its
obligations hereunder, and (2) this Agreement has been duly authorized by the
Fund Accountant and, when executed and delivered by the Fund Accountant, will
constitute a legal, valid and binding obligation of the Fund Accountant,
enforceable against the Fund Accountant in accordance with its terms, subject to
bankruptcy, insolvency, reorganization, moratorium and other laws of general
application affecting the rights and remedies of creditors and secured parties.
15. INSURANCE.
The Fund Accountant shall notify the Trust should any of its
insurance coverage be canceled or reduced. Such notification shall include the
date of change and the reasons therefor. The Fund Accountant shall notify the
Trust of any material claims against it with respect to services performed under
this Agreement, whether or not they may be covered by insurance, and shall
notify the Trust from time to time as may be appropriate of the total
outstanding claims made by the Fund
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Accountant under its insurance coverage.
16. INFORMATION TO BE FURNISHED BY THE TRUST AND FUNDS.
The Trust has furnished to the Fund Accountant, or will
furnish to the Fund Accountant within 90 days following the effective date of
this Agreement, the following:
(a) Copies of the Agreement and Declaration of Trust of
the Trust and of any amendments thereto, certified by
the proper official of the state in which such
document has been filed.
(b) Copies of the following documents:
(i) The Trust's Bylaws and any amendments
thereto;
(ii) Certified copies of resolutions of the Board
of Trustees covering the approval of this
Agreement, authorization of a specified
officer of the Trust to execute and deliver
this Agreement and authorization for
specified officers of the Trust to instruct
the Fund Accountant thereunder; and
(iii) Any Fund Participation Agreement to which
the Trust is a party.
(c) A list of all the officers of the Trust, together
with specimen signatures of those officers who are
authorized to instruct the Fund Accountant in all
matters.
(d) Two copies of the Prospectuses and Statements of
Additional Information for each Fund.
17. INFORMATION FURNISHED BY THE FUND ACCOUNTANT.
(a) The Fund Accountant has furnished to the Trust
the following:
(i) The Fund Accountant's Articles of
Incorporation; and
(ii) The Fund Accountant's Bylaws and any
amendments thereto.
(b) The Fund Accountant shall, upon request, furnish
certified copies of corporate actions covering the
following matters:
(i) Approval of this Agreement, and
authorization of a specified officer of the
Fund Accountant to execute and deliver this
Agreement; and
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(ii) Authorization of the Fund Accountant to act
as fund accountant for the Trust and to
provide accounting services for the Trust.
18. AMENDMENTS TO DOCUMENTS.
The Trust shall furnish the Fund Accountant written copies of
any amendments to, or changes in, any of the items referred to in Section 16
hereof forthwith upon such amendments or changes becoming effective. In
addition, the Trust agrees that no amendments will be made to the Prospectuses
or Statements of Additional Information of the Trust which might have the effect
of changing the procedures employed by the Fund Accountant in providing the
services agreed to hereunder or which amendment might affect the duties of the
Fund Accountant hereunder unless the Trust first obtains the Fund Accountant's
approval of such amendments or changes.
19. COMPLIANCE WITH LAW.
Except for the obligations of the Fund Accountant set forth in
Section 8 hereof, the Trust assumes full responsibility for the preparation,
contents and distribution of each prospectus of the Trust as to compliance with
all applicable requirements of the Securities Act of 1933, as amended (the
"Securities Act"), the 1940 Act and any other laws, rules and regulations of
governmental authorities having jurisdiction. The Fund Accountant shall have no
obligation to take cognizance of any laws relating to the sale of the Trust's
Shares. The Trust represents and warrants that no Shares of the Trust will be
offered to the public until the Trust's registration statement under the
Securities Act and the 1940 Act has been declared or becomes effective.
20. NOTICES.
Any notice required or permitted to be given by either party
to the other shall be deemed sufficient if sent by registered or certified mail,
postage prepaid, addressed by the party giving notice to the other party at the
following address: if to the Fund Accountant, to it at 0000 Xxxxxxx Xxxx,
Xxxxxxxx, Xxxx 00000; if to the Trust, to it at Xxxxxxxxx Institutional Equity
Management, 0 Xxxxxx Xxx, Xxxxxx, Xxxxxxxxxx, 00000, Attn: Xxxxxx X. Xxxxx,
Esq., with a copy to X.X. Xxxxxxxxx, Esq., Ropes & Xxxx, Xxx Xxxxxxxxxxxxx
Xxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000-0000, or at such other address as such party
may from time to time specify in writing to the other party pursuant to this
Section.
21. HEADINGS.
Paragraph headings in this Agreement are included for
convenience only and are not to be used to construe or interpret this Agreement.
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22. ASSIGNMENT.
This Agreement and the rights and duties hereunder shall not
be assignable with respect to a Fund by either of the parties hereto except by
the specific written consent of the other party. This Agreement shall be binding
upon, and shall inure to the benefit of, the parties hereto and their respective
successors and permitted assigns.
23. GOVERNING LAW.
This Agreement shall be governed by and provisions shall be
construed in accordance with the laws of the State of Ohio.
24. MATTERS RELATING TO THE TRUST AS A MASSACHUSETTS BUSINESS
TRUST.
It is expressly agreed that the obligations of the Trust
hereunder shall not be binding upon any of the Trustees, shareholders, nominees,
officers, agents or employees of the Trust personally, but shall bind only the
property of the Trust. The execution and delivery of this Agreement have been
authorized by the Trustees, and this Agreement has been signed and delivered by
an authorized officer of the Trust, acting as such, and neither such
authorization by the Trustees nor such execution and delivery by such officer
shall be deemed to have been made by any of them individually or to impose any
liability on any of them personally, but shall bind only the property of the
Trust as provided in the Trust's Amended and Restated Agreement and Declaration
of Trust, which is on file with the Secretary of The Commonwealth of
Massachusetts.
25. CONFIDENTIAL INFORMATION.
Each party acknowledges that it may acquire knowledge and
information relating to the other party and its affiliates which is not
generally known by others including, but not limited to, information pertaining
to business plans, prior, present or potential shareholders, employees,
customers and/or suppliers, and that all such knowledge and information acquired
or developed is and shall be confidential and proprietary information (all such
confidential and proprietary information is herein collectively referred to as
the "Confidential Information"). Each party agrees to hold the Confidential
Information in strict confidence, to refrain from directly or indirectly
disclosing it to others or using it in any way except for purposes of performing
services hereunder, and to prevent any unauthorized person access to it either
before or after termination of this Agreement, without the prior written consent
of the other party. Both parties further agree to take all action reasonable and
necessary to protect the confidentiality of the Confidential Information. The
parties shall use their best efforts to have their officers, employees and
agents agree to the terms of this Section. The obligations of the parties
contained in this section shall survive termination of this Agreement. Neither
party's confidentiality obligations under this provision shall apply to such
information that (i) was in the public domain or available to a third party
without restrictions at or prior to the time such information was made known to
such party, (ii) had been independently known to such party at the time of
disclosure from persons who were not subject to similar
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confidentiality obligations, or (iii) is required to be disclosed by law (except
that each party will use best efforts to give the other party written notice
prior to any such disclosure).
IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Agreement as of the day and year first above written.
XXXX XXXXXXXXX VARIABLE
INSURANCE TRUST
By:
----------------------------
Title:
-------------------------
BISYS FUND SERVICES OHIO, INC.
By:
----------------------------
Title:
-------------------------
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SCHEDULE A
TO THE FUND ACCOUNTING AGREEMENT
BETWEEN
XXXX XXXXXXXXX VARIABLE INSURANCE TRUST
AND
BISYS FUND SERVICES OHIO, INC.
FEES
ANNUAL FEE
The Fund Accountant shall be entitled to receive an annual fee of
$30,000 per Fund.
OUT-OF-POCKET EXPENSES
The Fund Accountant shall be entitled to be reimbursed for all
reasonable out-of-pocket expenses, including, but not limited to, the
expenses set forth in Section 4 of the Fund Accounting Agreement to
which this Schedule A is attached.
A-1
