Exhibit 99.9(b)(1)
LETTER AGREEMENT
AND
AMENDED SCHEDULE A
November 5, 1996
Xxxxx Xxxxxxx Investment
Management Company
000 X Xxxxxx
Xxxxxx, XX 00000
Dear Sirs:
Pursuant to Section 24 of the Transfer and Dividend Disbursing Agency Agreement
between Xxxxxxx Insurance Funds and Xxxxx Xxxxxxx Investment Management Company,
dated August 5, 1996, Xxxxxxx Insurance Funds advises you that it desires to
amend Schedule A of the Transfer and Dividend Disbursing Agency Agreement to
revise the fees to be charged by you to the Funds in return for your services as
set forth in the attached Transfer Agent Fee Schedule.
Please indicate your acceptance to act as Transfer and Dividend Disbursing Agent
to the amendment of Schedule A by executing the acceptance copy of this letter
agreement and returning to the undersigned.
Sincerely,
XXXXXXX INSURANCE FUNDS
By: /s/ Xxxx X. Xxxxxxxx
__________________________
Xxxx X. Xxxxxxxx
President and Chief Executive Officer
Accepted this 5th day of November, 1996
XXXXX XXXXXXX INVESTMENT
MANAGEMENT COMPANY
By: /s/ Xxxx X. Xxxxxxx
__________________________
Xxxx X. Xxxxxxx
President
SCHEDULE A AMENDMENT
FEE SCHEDULE
EFFECTIVE NOVEMBER 5, 1996
For all services provided by the Transfer Agent pursuant to the Transfer and
Dividend Disbursing Agency Agreement, each of the Xxxxxxx Insurance Funds agrees
to pay the Transfer Agent an annual fee equal to the average daily net assets
for each Portfolio of the Fund multiplied by the following percentages:
Asset Level Basis Point Fee
----------- ---------------
$0 - $25 million 7 basis points
$26 - $50 million 5 basis points
$51 - $100 million 3 basis points
$101 - $500 million 2 basis points
over $500 million 1 basis point
The Transfer Agency Fee shall be accrued daily at a rate of 1/365th of the
annual fee and shall be based upon the average daily net assets of each
Portfolio during the calendar month. The Transfer Agency Fee shall be payable
monthly on the fifth business day following month end.
