AMENDMENT TO
SCHEDULE A TO THE
ADMINISTRATION AGREEMENT
DATED AS OF JANUARY 1, 1997
BETWEEN SEFTON FUNDS TRUST AND
BISYS FUND SERVICES LIMITED PARTNERSHIP
This Amendment is made as of May 1, 1997, between the Sefton Funds Trust
(the "Trust") and BISYS Fund Services Limited Partnership d/b/a BISYS Fund
Services (the "Administrator"). The parties hereby amend Schedule A to the
Administration Agreement (the "Agreement") between the Trust and the
Administrator dated as of January 1, 1997, as set forth below.
WHEREAS, the parties hereto wish to amend the portion of Schedule A to the
Agreement, entitled "Fees," by modifying the fee amount set forth therein.
NOW THEREFORE, in consideration of the foregoing and the mutual premises
and covenants herein set forth, the parties agree as follows:
1. Schedule A to the Agreement shall be amended by replacing the entire
section entitled "Fees" with the following:
Pursuant to Article 4, in consideration of services
rendered and expenses assumed pursuant to this Agreement,
the Trust will pay the Administrator on the first business
day of each month, or at such time(s) as the Administrator
shall request and the parties hereto shall agree, a fee
computed daily at the annual rate of:
Fifteen one-hundredths of one percent
(.15%) of the Trust's average daily net
assets.
The fee for the period from the day of the month this
Agreement is entered into until the end of that month shall
be prorated according to the proportion which such period
bears to the full monthly period. Upon any termination of
this Agreement before the end of any month, the fee for such
part of a month shall be prorated according to the
proportion which such period bears to the full monthly
period and shall be payable upon the date of termination of
this Agreement.
For purposes of determining the fees payable to the
Administrator, the value of the net assets of a particular
Portfolio shall be computed in the manner described in the
Trust's Declaration of Trust or in the Prospectus or
Statement of Additional Information respecting that
Portfolio as from time to time is in effect for the
computation of the value of such net assets in connection
with the determination of the liquidating value of the
shares of such Portfolio.
The parties hereby confirm that the fees payable
hereunder shall be applied to each Portfolio as a whole, and
not to separate classes of shares within the Portfolios.
2. This Amendment may be executed in one or more counterparts, each of
which will be deemed an original, but all of which together shall constitute
one and the same instrument.
3. Except as specifically set forth herein, all other provisions of the
Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the date
first written above.
SEFTON FUNDS TRUST
By:
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BISYS FUND SERVICES
LIMITED PARTNERSHIP
By: BISYS Fund Services, Inc.,
General Partner
By:
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