Exhibit h(3)
DOMINI SOCIAL INVESTMENTS LLC
000 Xxxxxxxx, 0xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Dated as of April 29, 2005
Domini Social Investment Trust
c/o Domini Social Investments LLC
000 Xxxxxxxx, 0xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Re: Sponsorship Agreement
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Ladies and Gentlemen:
Reference is hereby made to that certain Sponsorship Agreement, dated
as of October 22, 1997 (such agreement, as amended and in effect from time to
time, the "Sponsorship Agreement"), by and between Domini Social Investment
Trust (formerly known as Domini Social Equity Fund) (the "Trust") and Domini
Social Investments LLC ("DSI" or the "Sponsor").
The Trust and the Sponsor hereby agree that Section 3 of the
Sponsorship Agreement is hereby amended to read as follows:
3. Compensation of the Sponsor. For the services to be
rendered and facilities provided by the Sponsor hereunder, the Trust
shall pay DSI a fee accrued daily and payable monthly as specified on
the Schedule A which is attached hereto and made a part of this
Agreement. Such compensation shall be paid to DSI at the end of each
month, and calculated by applying a daily rate, based on the annual
percentage rates as specified on the attached Schedule A, to the
assets. The fee calculation shall be based on the Trust's average daily
net assets for the Trust's then-current fiscal year. If DSI serves as
the Sponsor for less than the whole of any period specified in this
Section 3, the compensation to DSI, as Sponsor, shall be prorated. For
purposes of computing the fees payable to the Sponsor hereunder, the
value of the Trust's net assets shall be computed in the manner
specified in the Trust's then-current prospectus(es) and statement(s)
of additional information.
The Schedule A attached hereto is hereby added as Schedule A to the
Sponsorship Agreement.
This letter agreement is a contract under seal and shall be governed by
and construed in accordance with the laws of the Commonwealth of Massachusetts.
This letter agreement may be executed in any number of counterparts, each of
which shall be an original and all of which, when taken together, shall
constitute one and the same instrument. In proving this letter agreement it
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shall not be necessary to produce or account for more than one such counterpart
signed by the party against whom enforcement is sought.
Sincerely,
DOMINI SOCIAL INVESTMENTS LLC
By: /s/ Xxx X. Xxxxxx
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Title: Manager
Accepted and Agreed:
DOMINI SOCIAL INVESTMENT TRUST
(FORMERLY KNOWN AS DOMINI SOCIAL EQUITY FUND)
By: /s/ Xxxxxx X. Xxxxxx
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Title: Treasurer
SCHEDULE A
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Pursuant to Section 3, Domini Social Investment Trust, on behalf of the Domini
Social Equity Fund and each other series of the Trust for which this Agreement
is approved, shall pay the Sponsor compensation at the following annual rates:
0.50% of the first $1.5 billion of net assets managed
0.49% of the next $1 billion of net assets managed
0.48% of net assets managed in excess of $2.5 billion
