Exhibit h(v) under form N-1A
Exhibit Ex-10 under Item 24/Reg. S-K
ADDENDUM TO
ADMINISTRATIVE SERVICES AGREEMENT
This Addendum to the Administrative Services Agreement is made and entered
into as of December 15, 1998, by and between FundManager Portfolios (the
"Trust") and Federated Administrative Services ("FAS").
WHEREAS, the Trust and FAS entered into an Administrative Services Agreement
dated November 11, 1996 (the "Agreement"); and
WHEREAS, the Trust and FAS have agreed to amend the Agreement in certain
respects;
NOW THEREFORE, the parties intending to be legally bound agree as follows:
1. Section 2, Services and Duties, is amended by adding the following
additional "Tax Services" as part of its Administrative Services:
(n) FAS will prepare all portfolio-related tax returns, and perform the
following excise, income and compliance-related tax services:
(i) prepare and file federal income and excise, and state and local tax
reports;
(ii) actively monitor periodic income and asset tests;
(iii) review gain/loss activity for wash sales deferrals, market discount
reclass, and proper tax basis;
(iv) perform technical tax research relating to securities new to the
portfolios and ensure that tax accounting policies and accounting systems are
appropriate; and
(v) reply to income tax notices and inquiries from federal, state and local
taxing authorities.
2. Section 5, Compensation is amended by adding the following paragraph:
FAS will provide the Tax Services at its cost, which is a current rate of
$3,000 per portfolio.
IN WITNESS WHEREOF, the parties hereto have caused this addendum to be
executed by their officers designated below as of the 15th day of December,
1998.
FUNDMANAGER PORTFOLIOS
By:
Name:
Title:
FEDERATED ADMINISTRATIVE SERVICES
By:
Name:
Title:
