EXHIBIT (h)(5)
MACKENZIE SOLUTIONS
FUND ACCOUNTING SERVICES AGREEMENT SUPPLEMENT
International Solutions I - Conservative Growth
International Solutions II - Balanced Growth
International Solutions III - Moderate Growth
International Solutions IV - Long-Term Growth
International Solutions V - Aggressive Growth
AGREEMENT made as of the 28th day of June, 1999, by and between
Mackenzie Solutions (the "Trust") and Mackenzie Investment Management Inc. (the
"Agent").
WHEREAS, the Trust is an open-end investment company organized as a
Massachusetts business trust and consists of such separate investment portfolios
as have been or may be established and designated by the Trustees of the Trust
from time to time;
WHEREAS, a separate class of shares of the Trust is offered to
investors with respect to each investment portfolio;
WHEREAS, the Trust has adopted a Master Fund Accounting Services
Agreement (the "Master Agreement") dated as of June 28th, 1999, pursuant to
which the Trust has appointed the Agent to provide the fund accounting services
specified in the Master Agreement; and
WHEREAS, International Solutions I - Conservative Growth, International
Solutions II -Balanced Growth, International Solutions III - Moderate Growth,
International Solutions IV - Long-Term Growth and International Solutions V -
Aggressive Growth (the "Funds") are separate investment portfolios of the Trust:
NOW, THEREFORE, the Trustees of the Trust hereby take the following
actions, subject to the conditions set forth:
1. As provided for in the Master Agreement, the Trust hereby adopts the
Master Agreement with respect to each Fund, and the Agent hereby acknowledges
that the Master Agreement shall pertain to each Fund, the terms and conditions
of such Master Agreement being hereby incorporated herein by reference.
2. The term "Fund" as used in the Master Agreement shall, for purposes
of this Supplement, pertain to the Funds.
3. As provided in the Master Agreement and subject to further
conditions as set forth therein, the Fund shall pay the Agent a monthly fee
based upon the rate(s) set forth in the Fee Schedule attached hereto as Annex 1.
4. This Supplement and the Master Agreement (together, the "Agreement")
shall become effective with respect to the Funds as of the date specified above
and unless sooner terminated as hereinafter provided, the Agreement shall remain
in effect with respect to each Fund for a period of more than one (1) year from
such date only so long as the continuance is specifically approved at least
annually by the Trust's Board of Trustees, including the vote or written consent
of a majority of the Trust's Independent Trustees. This Agreement may be
terminated with respect to a Fund, without payment of any penalty, by the Fund
upon at least ninety (90) days' prior written notice to the Agent or by the
Agent upon at least ninety (90) days' prior written notice to the Trust;
provided, that in the case of termination by a Fund, such action shall have been
authorized by the Trust's Board of Trustees, including the vote or written
consent of a majority of the Trust's Independent Trustees.
MACKENZIE SOLUTIONS,
on behalf of International Solutions
I - Conservative Growth,
International Solutions II -
Balanced Growth, International
Solutions III - Moderate Growth,
International Solutions IV -
Long-Term Growth, International
Solutions V - Aggressive Growth
By: /s/ XXXXX X. XXXXXXX
Xxxxx X. Xxxxxxx, President
MACKENZIE INVESTMENT MANAGEMENT INC.
By: /s/ XXXXXXX X. XXXXXX
Xxxxxxx X. Xxxxxx, President
ANNEX 1
FUND ACCOUNTING SERVICES AGREEMENT
FEE SCHEDULE
International Solutions I - Conservative Growth
International Solutions II - Balanced Growth
International Solutions III - Moderate Growth
International Solutions IV - Long-Term Growth
International Solutions V - Aggressive Growth
Net Assets of Fund at Preceding Month's End Monthly Fee
Less than or equal to $10 million $1,250
Between $10 million and $40 million $2,500
Between $40 million and $75 million $5,000
Over $75 million $6,500
