EXHIBIT 23(h)(1)(ii)
AMENDED AND RESTATED PRICING AND BOOKKEEPING AGREEMENT
This Amended and Restated Pricing and Bookkeeping Agreement is dated
this 14th day of April, 2003, between Liberty Variable Investment Trust
(formerly Keyport Variable Investment Trust) (the "Trust"), and Columbia
Management Advisers, Inc.("Columbia"), an Oregon corporation.
WHEREAS, the Trust and Colonial Management Associates, Inc.
("Colonial"), formerly a subsidiary of Columbia Management Group, Inc. ("CMG"),
previously entered into a Pricing and Bookkeeping Agreement dated June 7, 1993,
as amended on May 2, 1994, May 1, 1995, August 15, 1997 and July 1, 2001;
WHEREAS, pursuant to a reorganization of certain of investment advisory
subsidiaries of CMG, Colonial merged into Columbia on April 1, 2003, and thus
Columbia became a party to this agreement; and
WHEREAS, the parties wish to amend and restate the Agreement to
incorporate previous amendments, as well as to amend Appendix I and Schedule A.
NOW THEREFORE, in consideration of the mutual covenants and agreements
of the parties hereto as set forth, the parties covenant and agree as follows:
1. Appointment. The Trust may offer an unlimited number of series
("Funds"), each of which may have multiple classes of shares ("Shares"). This
Agreement will apply to each Fund on the Effective Date set forth in Appendix I
as amended from time to time.
2. Services. Columbia shall (i) determine and timely communicate
to persons designated by the Trust the Fund's net asset values and offering
prices per Share; and (ii) maintain and preserve in a secure manner the
accounting records of the Fund. All records shall be the property of the Fund.
Columbia will provide disaster planning to minimize possible service
interruption.
3. Audit, Use and Inspection. Columbia shall make available on
its premises during regular business hours all records of a Fund for reasonable
audit, use and inspection by the Trust, its agents and any regulatory agency
having authority over the Fund.
4. Compensation. The Trust will pay Columbia for each Fund
(except for Columbia High Yield Fund, VS, Columbia Real Estate Equity Fund, VS
and Liberty Equity Fund, VS) a monthly fee consisting of a Flat Fee plus an
Asset-Based Fee, as follows:
(a) "Flat Fee." For each Fund that is a stand-alone fund
or a master fund in a master/feeder structure, as
identified as such on Schedule A, an annual fee of
$10,000, paid monthly. For each Fund that is a feeder
fund in a master/feeder structure, as identified as
such on Schedule A, an annual fee of $5,000, paid
monthly; plus
(b) "Asset-Based Fee." For each Fund that is a
stand-alone fund or a feeder fund in a master/feeder
structure, as identified as such on Schedule A, that
has average net assets of more than $50 million in
any
particular month, a monthly fee equal to the average
net assets of the Fund for that month multiplied by
the Asset-Based Fee Rate. The "Asset-Based Rate"
shall be calculated as follows:
[(number of stand-alone funds and master
funds on Schedule A x $105,000) + (number of
feeder funds on Schedule A x $12,000) -
(annual flat fees payable by each fund on
Schedule A)] / (average monthly net assets
of all stand-alone funds and feeder funds on
Schedule A with average monthly net assets
of more than $50 million in that month)
[Note: certain of the funds listed on Schedule A are
not party to the Agreement but are listed for the
purpose of calculating the Asset-Based Fee Rate.]
Each Fund also shall reimburse Columbia for any and
all out-of-pocket expenses and charges, including
fees payable to third parties for pricing the Fund's
portfolio securities, in performing services under
this Agreement.
For Columbia High Yield Fund, VS, Columbia Real Estate Equity Fund, VS
and Liberty Equity Fund, VS, the Trust will pay Columbia an annual fee based on
the average net assets of each Fund as follows:
Assets Fee
------ ---
Net assets under $50 million $ 25,000
Net assets of $50 million but less
than $200 million $ 35,000
Net assets of $200 million but less
than $500 million $ 50,000
Net assets of $500 million but less
than $1 billion $ 85,000
Net assets in excess of $1 billion $125,000
If any of Columbia High Yield Fund, Variable Series, Columbia Real
Estate Equity Fund, Variable Series or Liberty Equity Fund, Variable Series has
more than 25% in non-domestic assets, it shall pay 150% of the fees described
above. Each of these Funds also shall reimburse Columbia for any and all
out-of-pocket expenses and charges, including fees payable to third parties for
pricing the Fund's portfolio securities, in performing services under this
Agreement.
5. Compliance. Columbia shall comply with applicable provisions
of the prospectus and statement of additional information of the Trust and
applicable laws and rules in the provision of services under this Agreement.
6. Limitation of Liability. In the absence of willful
misfeasance, bad faith or gross negligence on the part of Columbia, or reckless
disregard of its obligations and duties hereunder, Columbia shall not be subject
to any liability to the Trust or Fund, to any shareholder of the Trust or the
Fund or to any other person, firm or organization, for any act or omission in
the course of, or connected with, rendering services hereunder.
7. Amendments. The Trust shall submit to Columbia a reasonable
time in advance of filing with the Securities and Exchange Commission copies of
any changes in its Registration Statement. If a change in documents or
procedures
materially increases the cost to Columbia of performing its obligations,
Columbia shall be entitled to receive reasonable additional compensation.
8. Duration and Termination, etc. This Agreement may be changed
only by writing executed by each party. This Agreement: (a) shall continue in
effect until two years from the date of its execution, and thereafter, from year
to year so long as approved annually by vote of a majority of the Trustees who
are not affiliated with Columbia; (b) may be terminated at any time without
penalty by sixty days' written notice to either party; and (c) may be terminated
at any time for cause by either party if such cause remains unremedied for a
reasonable period not to exceed ninety days after receipt of written
specification of such cause. Paragraph 6 of this Agreement shall survive
termination. If the Trust designates a successor to any of Columbia obligations,
Columbia shall, at the expense and direction of the Trust, transfer to the
successor all trust records maintained by Columbia.
9. Miscellaneous. This Agreement shall be governed by the laws of
The Commonwealth of Massachusetts.
10. Use of Affiliated Companies and Subcontractors. In connection
with the services to be provided by Columbia under this Agreement, Columbia may,
to the extent it deems appropriate, and subject to compliance with the
requirements of applicable laws and regulations and upon receipt of approval of
the Trustees, make use of (i) its affiliated companies and their directors,
trustees, officers, and employees and (ii) subcontractors selected by Columbia,
provided that Columbia shall supervise and remain fully responsible for the
services of all such third parties in accordance with and to the extent provided
by this Agreement. Except as otherwise provided in paragraph herein, all costs
and expenses associated with services provided by any such third parties shall
be borne by Columbia or such parties.
IN WITNESS WHEREOF, the parties have duly executed this Agreement as of
the day and year first above.
LIBERTY VARIABLE INVESTMENT TRUST
By: _____________________________
J. Xxxxx Xxxxxxxxxxx
Treasurer
COLUMBIA MANAGEMENT ADVISERS, INC.
By: _____________________________
Xxxxxx X. Xxxxxxx
Chief Operating Officer
A copy of the document establishing the Trust is filed with the Secretary of The
Commonwealth of Massachusetts. This Agreement is executed by officers not as
individuals and is not binding upon any of the Trustees, officers or
shareholders of the Trust individually but only upon the assets of the Fund.
Appendix I
Effective Date
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Columbia International Fund, VS April 14, 2003
Colonial Small Cap Value Fund, VS April 14, 2003
Colonial Strategic Income Fund, VS April 14, 2003
Liberty Growth & Income Fund, VS April 14, 2003
Liberty All-Star Equity Fund, VS April 14, 2003
Liberty S&P 500 Index Fund, VS April 14, 2003
Liberty Select Value Fund, VS April 14, 2003
Newport Tiger Fund, VS April 14, 2003
Columbia High Yield Fund, VS April 14, 2003
Liberty Equity Fund, VS April 14, 2003
Columbia Real Estate Equity Fund, VS April 14, 2003
SCHEDULE A
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LIBERTY FUNDS TRUST I
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Liberty High Yield Securities Fund Fund
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Liberty Strategic Income Fund Fund
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Liberty Tax-Managed Growth Fund Fund
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Liberty Tax-Managed Growth Fund II Fund
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Liberty Tax-Managed Value Fund Fund
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Liberty Tax-Managed Aggressive Growth Fund Fund
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LIBERTY FUNDS TRUST II
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Liberty Newport Japan Opportunities Fund Fund
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Liberty Newport Greater China Fund Fund
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Liberty Money Market Fund Fund
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LIBERTY FUNDS TRUST III
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Liberty Select Value Fund Fund
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The Liberty Fund Fund
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Liberty Newport Global Equity Fund Fund
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Liberty Federal Securities Fund Fund
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Liberty Contrarian Income Fund Fund
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LIBERTY FUNDS TRUST IV
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Liberty Tax-Exempt Fund Fund
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Liberty Tax-Exempt Insured Fund Fund
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Liberty Utilities Fund Fund
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Liberty Municipal Money Market Fund Fund
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LIBERTY FUNDS TRUST V
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Liberty California Tax-Exempt Fund Fund
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Liberty Connecticut Tax-Exempt Fund Fund
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Liberty Massachusetts Tax-Exempt Fund Fund
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Liberty New York Tax-Exempt Fund Fund
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LIBERTY FUNDS TRUST VI
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Liberty Small Cap Value Fund Fund
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Liberty Growth & Income Fund Fund
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Liberty Newport Asia Pacific Fund Fund
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LIBERTY FUNDS TRUST VII
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Liberty Newport Tiger Fund Fund
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Liberty Newport Europe Fund Fund
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LIBERTY-XXXXX XXX FUNDS MUNICIPAL TRUST
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Liberty Managed Municipals Fund Fund
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Liberty High Yield Municipal Fund Fund
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LIBERTY-XXXXX XXX FUNDS INVESTMENT TRUST
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Liberty Global Thematic Equity Fund Fund
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Liberty European Thematic Equity Fund Fund
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Liberty Growth Stock Fund Fund
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Liberty Young Investor Fund Fund
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LIBERTY-XXXXX XXX FUNDS TRUST
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Xxxxx Xxx Institutional Client High Yield Fund Fund
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LIBERTY-XXXXX XXX ADVISOR TRUST
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LIBERTY-XXXXX XXX FUNDS INCOME TRUST
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Liberty Income Fund Fund
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Liberty Intermediate Bond Fund Fund
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Liberty Floating Rate Fund Feeder
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Liberty-Xxxxx Xxx Institutional Floating Rate Income Fund Feeder
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Xxxxx Xxx Floating Rate Limited Liability Company Master
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CLOSED END FUNDS
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Colonial Intermediate High Income Fund Fund
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Colonial InterMarket Income Trust I Fund
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Colonial Insured Municipal Fund Fund
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Colonial California Insured Municipal Fund Fund
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Colonial New York Insured Municipal Fund Fund
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Colonial Municipal Income Trust Fund
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Colonial Investment Grade Municipal Trust Fund
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Colonial High Income Municipal Trust Fund
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Liberty Floating Rate Advantage Fund Fund
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LIBERTY VARIABLE INVESTMENT TRUST
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Liberty Growth & Income Fund, VS Fund
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Colonial Small Cap Value Fund VS Fund
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Liberty All-Star Equity Fund, VS Fund
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Liberty Select Value Fund, VS Fund
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Liberty S&P 500 Index Fund, VS Fund
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Colonial Strategic Income Fund, VS Fund
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Columbia International Fund, VS Fund
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Newport Tiger Fund, VS Fund
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STEINROE VARIABLE INVESTMENT TRUST
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Liberty Asset Allocation Fund, VS Fund
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Xxxxx Xxx Growth Stock Fund, VS Fund
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Liberty Small Company Growth Fund, VS Fund
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Liberty Money Market Fund, VS Fund
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Liberty Federal Securities Fund, VS Fund
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