Exhibit (h)(1)(i)
Execution Copy
TRANSFER AGENCY AND SERVICE AGREEMENT
BETWEEN
EACH OF THE ENTITIES LISTED ON APPENDIX A
AND
BOSTON FINANCIAL DATA SERVICES, INC.
TABLE OF CONTENTS
Page
----
1. Terms of Appointment and Duties....................................... 2
2. Third Party Administrators for Defined Contribution Plans............. 7
3. Fees and Expenses..................................................... 8
4. Representations and Warranties of the Transfer Agent.................. 8
5. Representations and Warranties of the Fund............................ 9
6. Wire Transfer Operating Guidelines.................................... 9
7. Data Access and Proprietary Information............................... 11
8. Indemnification....................................................... 13
9. Standard of Care/Limitation on Liability.............................. 14
10. Confidentiality....................................................... 14
11. Covenants of the Fund and the Transfer Agent.......................... 15
12. Termination of Agreement.............................................. 16
13. Assignment and Third Party Beneficiaries.............................. 17
14. Subcontractors........................................................ 18
15. Miscellaneous......................................................... 18
16. Additional Funds/Portfolios........................................... 20
17. Limitations of Liability of the Trustees and Shareholders............. 21
Appendix A Funds and Portfolios
Schedule 1.2(f) AML Delegation
Schedule 1.3 Service Level Agreement
Schedule 1.6 Simple XXX Services
Schedule 2.1 Third Party Administrator(s) Procedures
Schedule 3.1 Fees and Expenses
Schedule 9 Transfer Agent's Liability
TRANSFER AGENCY AND SERVICE AGREEMENT
THIS AGREEMENT made as of the 1st day of October, 2005, by and between each
of the entities listed on Appendix A hereto and each being an entity of a type
as set forth on Appendix A and organized under the laws of the state as set
forth on Appendix A, each with place of business at 000 Xxxxxxxx Xxxxxx,
Xxxxxx, Xxxxxxxxxxxxx 00000 and each of which is acting on its own behalf and
on behalf of each of the portfolios listed under its name on Appendix A, but
not jointly with any other entities listed on Appendix A (each such entity,
together with its Portfolios (as defined below), shall be severally referred to
as the "Fund") and BOSTON FINANCIAL DATA SERVICES, INC., a Massachusetts
corporation having its principal office and place of business at Xxx Xxxxxxxx
Xxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000 (the "Transfer Agent").
WITNESSETH:
WHEREAS, each Fund currently set forth on Appendix A is a trust registered with
the Securities and Exchange Commission as an investment company pursuant to the
Investment Company Act of 1940, as amended; and
WHEREAS, each Fund currently set forth on Appendix A is authorized to issue
shares in separate series, with each such series representing interests in a
separate portfolio of securities and other assets (each such series, together
with all other series subsequently established by the Fund and made subject to
this Agreement in accordance with Section 16 being herein referred to severally
as the Fund's "Portfolios"); and
WHEREAS, it is contemplated that additional Funds and their Portfolios may
become parties to this Agreement by mutual consent of the parties hereto and by
execution of a counterpart signature page to this Agreement subject to the
provisions of Section 16 hereto; and
WHEREAS, the Fund (as used herein "the Fund" shall refer severally to each
entity listed on Appendix A together with its Portfolios) on behalf of the
Portfolios desires to appoint the Transfer Agent as its transfer agent,
dividend disbursing agent and agent in connection with certain other
activities, and the Transfer Agent desires to accept such appointment.
NOW, THEREFORE, in consideration of the mutual covenants herein contained, the
parties hereto agree as follows:
1. Terms of Appointment and Duties
1.1 Transfer Agency Services. Subject to the terms and conditions set
forth in this Agreement, the Fund, on behalf of the Portfolios,
hereby employs and appoints the Transfer Agent to act as, and the
Transfer Agent agrees to act as, its transfer agent for the Fund's
authorized and issued shares of its beneficial interest ("Shares"),
dividend disbursing agent and agent in connection with any
accumulation, open-account or similar plan provided to the
shareholders of each of the respective Portfolios of the Fund
("Shareholders") and set out in the currently effective
prospectus(es) and statement(s) of additional information
("prospectus") of the Fund on behalf of the applicable Portfolio,
including without limitation any periodic investment plan or periodic
withdrawal program. In accordance with the prospectus and the
procedures established from time to time by agreement between the
Fund on behalf of each of the Portfolios, as applicable and the
Transfer Agent, the Transfer Agent agrees that it will perform the
following services:
(a) Receive for acceptance, orders for the purchase of Shares, and
promptly deliver
Appendix A - 2
payment and appropriate documentation thereof to the Custodian of the
Fund authorized pursuant to the Trust Instrument of the Fund (the
"Custodian");
(b) Pursuant to purchase orders, issue the appropriate number of
Shares and hold such Shares in the appropriate Shareholder account;
(c) Receive for acceptance redemption requests and redemption
directions and deliver the appropriate documentation thereof to the
Custodian;
(d) In respect to the transactions in items (a), (b) and (c) above,
the Transfer Agent shall execute transactions directly with
broker-dealers authorized by the Fund;
(e) At the appropriate time as and when it receives monies paid to it
by the Custodian with respect to any redemption, pay over or cause to
be paid over in the appropriate manner such monies as instructed by
the redeeming Shareholders;
(f) Effect transfers of Shares by the registered owners thereof upon
receipt of appropriate instructions;
(g) Prepare and transmit payments for dividends and distributions
declared by the Fund on behalf of the applicable Portfolio;
(h) Issue replacement certificates for those certificates alleged to
have been lost, stolen or destroyed upon receipt by the Transfer
Agent of indemnification satisfactory to the Transfer Agent and
protecting the Transfer Agent and the Fund, and the Transfer Agent at
its option, may issue replacement certificates in place of mutilated
stock certificates upon presentation thereof and without such
indemnity;
(i) Issue replacement checks and place stop orders on original checks
based on Shareholder's representation that a check was not received
or was lost. Such stop orders and replacements will be deemed to have
been made at the request of the Fund, and the Fund shall be
responsible for all losses or claims resulting from such replacement;
(j) Maintain records of account for and advise the Fund and its
Shareholders as to the foregoing;
(k) Record the issuance of Shares of the Fund and maintain pursuant
to Rule 17Ad-10(e) under the Securities and Exchange Act of 1934, as
amended, a record of the total number of Shares of the Fund which are
authorized, based upon data provided to it by the Fund, and issued
and outstanding. The Transfer Agent shall also provide the Fund on a
regular basis with the total number of Shares which are authorized
and issued and outstanding and shall have no obligation, when
recording the issuance of Shares, to monitor the issuance of such
Shares or to take cognizance of any laws relating to the issue or
sale of such Shares, which functions shall be the sole responsibility
of the Fund;
(l) Maintain such bank accounts (demand deposit accounts or "DDAs")
as the Transfer Agent shall deem necessary to the performance of its
duties hereunder, including, but not limited to, the processing of
Share purchases and redemptions and the payment of Portfolio
dividends;
Appendix A - 3
(m) Report abandoned property to state authorities as authorized by
the Fund in accordance with the policies and procedures agreed upon
by the Fund and the Transfer Agent;
(n) Provide Shareholder proxy coordination;
(o) Provide Shareholder account information through various means,
including but not limited to, telephone calls, correspondence and
research;
(p) Monitor transactions in the Fund for market timing activity in
accordance with the specifications and procedures agreed upon by the
parties in writing, which may be amended from time to time. The
services provided under this Section 1.1(p) will be ministerial only
and such monitoring will not subject the Transfer Agent to any
liability for failure to detect market timing activity; provided,
however that the Transfer Agent shall be liable for its willful
misconduct in connection with performing the services in this
Section 1.1(p); and
(q) Account for and administer the redemption fees on the redemption
and exchange of Shares.
1.2 Additional Services. In addition to, and neither in lieu nor in
contravention of, the services set forth in the above paragraph, the
Transfer Agent shall perform the following services:
(a) Other Customary Services. Perform the customary services of a
transfer agent, dividend disbursing agent and, as relevant, agent in
connection with accumulation, open-account or similar plan (including
without limitation any periodic investment plan, DRIP or periodic
withdrawal program), including but not limited to: maintaining all
Shareholder accounts, preparing Shareholder meeting lists, mailing
Shareholder proxies, Shareholder reports and prospectuses to current
Shareholders, withholding taxes on U.S. resident and non-resident
alien accounts, preparing and filing U.S. Treasury Department Forms
1099 and other appropriate forms required with respect to dividends
and distributions by federal authorities for all Shareholders,
preparing and mailing confirmation forms and statements of account to
Shareholders for all purchases and redemptions of Shares and other
confirmable transactions in Shareholder accounts, preparing and
mailing activity statements for Shareholders, providing Shareholder
account information and coordinating with and overseeing the
print/mail vendor in accordance with the provisions of Section 14.1
below;
(b) Control Book (also known as "Super Sheet"). Maintain a daily
record and produce a daily report for the Fund of all transactions
and receipts and disbursements of money and securities and deliver a
copy of such report for the Fund for each business day to the Fund no
later than 9:00 AM Eastern Time, or such earlier time as the Fund may
reasonably require, on the next business day;
(c) "Blue Sky" Reporting. The Fund shall (i) identify to the Transfer
Agent in writing those transactions and assets to be treated as
exempt from blue sky reporting for each State and (ii) verify the
establishment of transactions for each State on the system prior to
activation and thereafter monitor the daily activity for each State.
The responsibility of the Transfer Agent for the Fund's blue sky
State registration status is solely limited to the
Appendix A - 4
initial establishment of transactions subject to blue sky compliance
by the Fund and providing a system which will enable the Fund to
monitor the total number of Shares sold in each State;
(d) National Securities Clearing Corporation (the "NSCC"). (i) accept
and effectuate the registration and maintenance of accounts through
Networking and the purchase, redemption, transfer and exchange of
shares in such accounts through Fund/SERV (Networking and Fund/SERV
being programs operated by the NSCC on behalf of NSCC's participants,
including the Fund), in accordance with, instructions transmitted to
and received by the Transfer Agent by transmission from NSCC on
behalf of broker-dealers and banks which have been established by, or
in accordance with the instructions of authorized persons, as
hereinafter defined on the dealer file maintained by the Transfer
Agent; (ii) issue instructions to Fund's banks for the settlement of
transactions between the Fund and NSCC (acting on behalf of its
broker-dealer and bank participants); (iii) provide account and
transaction information from the affected Fund's records on DST
Systems, Inc. computer system TA2000 ("TA2000 System") in accordance
with NSCC's Networking and Fund/SERV rules for those broker-dealers;
(iv) comply with NSCC rules and procedures applicable to the Transfer
Agent's use of Networking; (v) implement and maintain procedures
reasonably designed to ensure the accuracy of all transmissions
through Networking and to limit the access to, and the imputing of
data into, Networking to persons specifically authorized by the
Transfer Agent; and (vi) otherwise perform any and all duties,
functions, procedures and responsibilities pursuant to each NSCC
matrix level and as otherwise established by NSCC from time to time.
(e) New Procedures. New procedures as to who shall provide certain of
these services in Section 1 may be established in writing from time
to time by agreement between the Fund and the Transfer Agent. The
Transfer Agent may at times perform only a portion of these services
and the Fund or its agent may perform these services on the Fund's
behalf;
(f) Anti-Money Laundering ("AML") Delegation. The Fund has elected to
delegate to the Transfer Agent certain AML duties and customer
identification procedure ("CIP") duties under this Agreement and the
parties have agreed to such duties and terms as stated in the
attached schedule (Schedule 1.2(f) entitled "AML Delegation"), which
may be changed from time to time subject to mutual written agreement
between the parties.
(g) Laws and Regulation. The Transfer Agent will take reasonable
steps to stay informed of new securities and tax laws and regulations
which apply to the Transfer Agent's products and services hereunder
and will take reasonable steps to update its products and/or services
to comply with new securities and tax laws and regulations applicable
to its transfer agency business in the time and manner as required by
such laws and regulations. On a quarterly basis, upon request of the
Fund, the Transfer Agent shall provide the Fund with a Rule 38a-1
certification substantially in the format previously provided to the
Fund in connection with the negotiation of this Agreement. The
Transfer Agent reserves the right to amend and update the form of its
Rule 38a-1 certification from time to time to comply with new or
amended requirements of applicable law or to enhance its Compliance+
program.
1.3 Service Level Agreement. The Transfer Agent shall maintain a quality
control process designed to provide a consistent level of quality and
timeliness for its call center, correspondence services and
transaction processing and level of systems availability. The
Appendix A - 5
Transfer Agent's performance of the services under this Agreement
will be measured against service levels and standards ("SLAs"), which
will be established in good faith by mutual written agreement of the
parties and shall be made a part of this Agreement as Schedule 1.3.
1.4 Facsimile Communications.
(a) The Fund hereby authorizes and instructs the Transfer Agent, as
transfer agent for the Portfolios listed on Appendix A: (i) to accept
facsimile transaction requests on behalf of individual Shareholders
received from broker/dealers of record, third-party administrators
("TPAs") or the Fund; (ii) that the broker/dealers, TPAs and the Fund
are duly authorized to initiate such transactions on behalf of the
Shareholders; and (iii) that the original source documentation is in
good order and the broker/dealers, TPAs or the Fund will retain such
documentation.
(b) The Transfer Agent acknowledges that requests for a change in
wiring instructions or for redemptions, the proceeds of which are to
be paid to third parties or wired to an account other than the
account of record, may not be accepted by facsimile transmission in
accordance with the Fund's current prospectus. The Transfer Agent
will not accept facsimile requests for the foregoing unless and until
such time as the Fund's prospectus permits the acceptance of such
instructions by facsimile.
1.5 E-Mail Communications.
(a) The Fund hereby instructs the Transfer Agent, as transfer agent
for the Portfolios listed on Appendix A, to accept instructions using
e-mail ("E-mail Communications"), as further set out below. The Fund
instructs the Transfer Agent to accept such E-mail Communications to
and from the Fund. The Fund acknowledges that the Transfer Agent will
not act on E-mail Communications to it coming directly from
Shareholders.
(b) The Fund acknowledges that the Transfer Agent is not extending
any warranties or making any representations with respect to the
services of any internet services provider. Any delays or errors
attributable to the non-functioning of the internet is at the risk of
the Fund. The Fund has been advised by the Transfer Agent that E-mail
Communications to or from the Transfer Agent may not be encrypted.
(c) The Fund, when submitting instructions via e-mail, will be
responsible for determining that any original source documentation
supporting such instructions is in good order and for retaining such
original documentation.
1.6 SIMPLE IRAs.
(a) Background. The Fund, if such Fund executes Schedule 1.6 hereto
and only in such event, intends to make available to certain of its
customers who are employers ("Employers") SIMPLE XXX plans within the
meaning of Section 408(p) of the Internal Revenue Code of 1986, as
amended (the "Code"), ("SIMPLE IRAs") pursuant to which Employers may
adopt a SIMPLE XXX for the benefit of their individual employees
("Participants"). The Transfer Agent, at the request of the Fund,
shall arrange for the provision of ministerial data processing and
record-keeping services for such SIMPLE IRAs as specified in Schedule
1.6.
Appendix A - 6
(b) Investment Directions. The parties agree that the Transfer Agent
shall have no investment responsibility or liability for the
selection of investments made by Employers or Participants with
respect to any SIMPLE IRAs. The Transfer Agent will accept investment
directions from Participants regarding their SIMPLE XXX. Employers of
the SIMPLE IRAs shall deliver directions to Transfer Agent regarding
the investment of the SIMPLE IRAs' assets for which no Participant
directions are received or where implementing Participant directions
is administratively infeasible.
2. Third Party Administrators for Defined Contribution Plans
2.1 The Fund may decide to make available to certain of its customers, a
qualified plan program (the "Program") pursuant to which Employers
may adopt certain plans of deferred compensation ("Plan or Plans")
for the benefit of the individual Plan participant (the "Plan
Participant"), such Plan(s) being qualified under Section 401(a) of
the Code and administered by TPA(s) which may be plan administrators
as defined in the Employee Retirement Income Security Act of 1974, as
amended.
2.2 In accordance with the procedures established in the initial Schedule
2.1 entitled "Third Party Administrator Procedures", as may be
amended by the Transfer Agent and the Fund from time to time
("Schedule 2.1"), the Transfer Agent shall:
(a) Treat Shareholder accounts established by the Plans in the name
of the trustees, Plans or TPAs as the case may be as omnibus accounts;
(b) Maintain omnibus accounts on its records in the name of the TPA
or its designee as the trustee for the benefit of the Plan; and
(c) Perform all services under Section 1 as transfer agent of the
Fund and not as a record-keeper for the Plans.
2.3 Transactions identified under Section 2 of this Agreement shall be
deemed exception services ("Exception Services") when such
transactions:
(a) Require the Transfer Agent to use methods and procedures other
than those usually employed by the Transfer Agent to perform services
under Section 1 of this Agreement;
(b) Involve the provision of information to the Transfer Agent after
the commencement of the nightly processing cycle of the TA2000
System; or
(c) Require more manual intervention by the Transfer Agent, either in
the entry of data or in the modification or amendment of reports
generated by the TA2000 System, than is usually required by
non-retirement plan and pre-nightly transactions.
Appendix A - 7
3. Fees and Expenses
3.1 Fee Schedule. For the performance by the Transfer Agent pursuant to
this Agreement, the Fund agrees to pay the Transfer Agent an annual
maintenance fee for each Shareholder account as set forth in the
attached fee schedule ("Schedule 3.1"). Such fees and out-of-pocket
expenses and advances identified under Section 3.2 below may be
changed from time to time subject to mutual written agreement between
the Fund and the Transfer Agent.
3.2 Out-of-Pocket Expenses. In addition to the fee paid under Section 3.1
above, the Fund agrees to reimburse the Transfer Agent for
out-of-pocket expenses in accordance with the terms of Schedule 3.1
attached hereto.
3.3 Postage. Postage for mailing of dividends, proxies, Fund reports and
other mailings to all shareholder accounts shall be advanced to the
Transfer Agent by the Fund at least seven (7) days prior to the
mailing date of such materials.
3.4 Invoices. The Fund agrees to pay all fees and reimbursable expenses
within thirty (30) days following the receipt of the respective
billing notice, except for any fees or expenses that are subject to
good faith dispute. In the event of such a dispute, the Fund may only
withhold that portion of the fee or expense subject to the good faith
dispute. The Fund shall notify the Transfer Agent in writing within
twenty-one (21) calendar days following the receipt of each billing
notice if the Fund is disputing any amounts in good faith. If the
Fund does not provide such notice of dispute within the required
time, the billing notice will be deemed accepted by the Fund. The
Fund shall settle such disputed amounts within five (5) days of the
day on which the parties agree on the amount to be paid by payment of
the agreed amount. If no agreement is reached, then such disputed
amounts shall be settled as may be required by law or legal process.
3.5 Cost of Living Adjustment. Unless otherwise agreed to at the time of
renewal, commencing in the initial year of the first Renewal Term (if
any), the total fee for all services for that year and for each
successive year of that or any subsequent Renewal Term shall equal
the fee that would be charged for the same services based on a fee
rate (as reflected in a fee rate schedule) increased by the
percentage increase for the twelve-month period of such previous
calendar year of the CPI-W (defined below), or, in the event that
publication of such Index is terminated, any successor or substitute
index, appropriately adjusted, acceptable to both parties. As used
herein, "CPI-W" shall mean the Consumer Price Index for Urban Wage
Earners and Clerical Workers for Boston-Brockton-Nashua, MA-NH-ME-CT,
(Base Period: 1982-84 = 100), as published by the United States
Department of Labor, Bureau of Labor Statistics.
4. Representations and Warranties of the Transfer Agent
The Transfer Agent represents and warrants to the Fund that:
4.1 It is a corporation duly organized and existing and in good standing
under the laws of The Commonwealth of Massachusetts.
Appendix A - 8
4.2 It is duly qualified to carry on its business in The Commonwealth of
Massachusetts.
4.3 It is empowered under applicable laws and by its Articles of
Organization and By-Laws to enter into and perform this Agreement.
4.4 All requisite corporate proceedings have been taken to authorize it
to enter into and perform this Agreement.
4.5 It has and will continue to have access to the necessary facilities,
equipment and personnel to perform its duties and obligations under
this Agreement.
5. Representations and Warranties of the Fund
The Fund represents and warrants to the Transfer Agent that:
5.1 It is a trust duly organized and existing and in good standing under
the laws of the state of its organization as set forth on Appendix A.
5.2 It is empowered under applicable laws and by its Agreement and
Declaration of Trust and By-Laws to enter into and perform this
Agreement.
5.3 All corporate proceedings required by said Agreement and Declaration
of Trust and By-Laws have been taken to authorize it to enter into
and perform this Agreement.
5.4 The Fund and each of its Portfolios is an open-end management
investment company registered under the Investment Company Act of
1940, as amended.
5.5 A registration statement under the Securities Act of 1933, as
amended, is currently effective and will remain effective, and
appropriate state securities law filings have been made and will
continue to be made, with respect to all Shares being offered for
sale.
6. Wire Transfer Operating Guidelines/Articles 4A of the Uniform Commercial
Code
6.1 Obligation of Sender. The Transfer Agent is authorized to promptly
debit the appropriate Fund account(s) upon the receipt of a payment
order in compliance with the selected security procedure (the
"Security Procedure") chosen for funds transfer and in the amount of
money that the Transfer Agent has been instructed to transfer. The
Transfer Agent shall execute payment orders in compliance with the
Security Procedure and with the Fund instructions on the execution
date provided that such payment order is received by the customary
deadline for processing such a request, unless the payment order
specifies a later time. All payment orders and communications
received after the customary deadline will be deemed to have been
received the next business day.
6.2 Security Procedure. The Fund acknowledges that the Security Procedure
it has designated on the Fund Selection Form was selected by the Fund
from security procedures offered by the Transfer Agent. The Fund
shall restrict access to confidential information relating to the
Security Procedure to authorized persons as communicated to the
Transfer Agent in writing. The Fund must notify the Transfer Agent
immediately if it has reason to believe unauthorized persons may have
obtained access to such information
Appendix A - 9
or of any change in the Fund's authorized personnel. The Transfer
Agent shall verify the authenticity of all Fund instructions
according to the Security Procedure.
6.3 Account Numbers. The Transfer Agent shall process all payment orders
on the basis of the account number contained in the payment order. In
the event of a discrepancy between any name indicated on the payment
order and the account number, the Transfer Agent shall use
commercially reasonable efforts to resolve the discrepancy. For all
discrepancies that remain unresolved after the use of commercially
reasonable efforts, the account number shall take precedence and
govern.
6.4 Rejection. The Transfer Agent reserves the right to decline to
process or delay the processing of a payment order which (a) is in
excess of the collected balance in the account to be charged at the
time of the Transfer Agent's receipt of such payment order; (b) if
initiating such payment order would cause the Transfer Agent, in the
Transfer Agent's sole judgement, to exceed any volume, aggregate
dollar, network, time, credit or similar limits which are applicable
to the Transfer Agent; or (c) if the Transfer Agent, in good faith,
is unable to satisfy itself that the transaction has been properly
authorized.
6.5 Cancellation Amendment. The Transfer Agent shall use reasonable best
efforts to act on all authorized requests to cancel or amend payment
orders received in compliance with the Security Procedure provided
that such requests are received in a timely manner affording the
Transfer Agent reasonable opportunity to act. However, the Transfer
Agent assumes no liability if the request for amendment or
cancellation cannot be satisfied.
6.6 Errors. The Transfer Agent shall assume no responsibility for failure
to detect any erroneous payment order provided that the Transfer
Agent complies with the payment order instructions as received and
the Transfer Agent complies with the Security Procedure. The Security
Procedure is established for the purpose of authenticating payment
orders only and not for the detection of errors in payment orders.
6.7 Interest. The Transfer Agent shall assume no responsibility for lost
interest with respect to the refundable amount of any unauthorized
payment order, unless the Transfer Agent is notified of the
unauthorized payment order within thirty (30) days of notification by
the Transfer Agent of the acceptance of such payment order.
6.8 ACH Credit Entries/Provisional Payments. When the Fund initiates or
receives Automated Clearing House credit and debit entries pursuant
to these Section 6 guidelines and the rules of the National Automated
Clearing House Association and the New England Clearing House
Association, State Street Bank and Trust Company will act as an
Originating Depository Financial Institution and/or Receiving
Depository Financial Institution, as the case may be, with respect to
such entries. Credits given by the Transfer Agent with respect to an
ACH credit entry are provisional until the Transfer Agent receives
final settlement for such entry from the Federal Reserve Bank. If the
Transfer Agent does not receive such final settlement, the Fund
agrees that the Transfer Agent shall receive a refund of the amount
credited to the Fund in connection with such entry, and the party
making payment to the Fund via such entry shall not be deemed to have
paid the amount of the entry.
6.9 Confirmation. Confirmation of Transfer Agent's execution of payment
orders shall ordinarily be provided within twenty four (24) hours
notice of which may be delivered
Appendix A - 10
through the Transfer Agent's proprietary information systems, or by
facsimile or call-back. Fund must report any objections to the
execution of an order within thirty (30) days.
7. Data Access and Proprietary Information
7.1 The Fund acknowledges that the databases, computer programs, screen
formats, report formats, interactive design techniques, and
documentation manuals furnished to the Fund by the Transfer Agent as
part of the Fund's ability to access certain Fund-related data
maintained by the Transfer Agent on databases under the control and
ownership of the Transfer Agent or other third party ("Data Access
Services") constitute copyrighted, trade secret, or other proprietary
information (collectively, "Proprietary Information") of substantial
value to the Transfer Agent or other third party. In no event shall
Proprietary Information be deemed to include Customer Data (as
defined in Section 10.1 below) which shall remain proprietary to the
Fund. The Fund agrees to treat all Proprietary Information as
proprietary to the Transfer Agent and further agrees that it shall
not divulge any Proprietary Information to any person or organization
except as may be provided hereunder. Without limiting the foregoing,
the Fund agrees for itself and its employees and agents to:
(a) Use such programs and databases (i) solely on the Fund's
computers or those of the Fund's investment adviser, administrator or
distributor, or (ii) solely from equipment at the location agreed to
between the Fund and the Transfer Agent and (iii) solely in
accordance with the Transfer Agent's applicable user documentation;
(b) Refrain from copying or duplicating in any way (other than in the
normal course of performing processing on the Fund's computer(s) or
those of the Fund's investment adviser, administrator or
distributor), the Proprietary Information;
(c) Refrain from obtaining unauthorized access to any portion of the
Proprietary Information, and if such access is inadvertently
obtained, to inform in a timely manner of such fact and dispose of
such information in accordance with the Transfer Agent's instructions;
(d) Refrain from causing or allowing information transmitted from the
Transfer Agent's computer to the Fund's terminal or that of the
Fund's investment adviser, administrator or distributor to be
retransmitted to any other computer terminal or other device except
as expressly permitted by the Transfer Agent (such permission not to
be unreasonably withheld); and
(e) Honor all reasonable written requests made by the Transfer Agent
to protect at the Transfer Agent's expense the rights of the Transfer
Agent in Proprietary Information at common law, under federal
copyright law and under other federal or state law.
Notwithstanding the foregoing, the Transfer Agent acknowledges that
the Fund may share the Proprietary Information of the Transfer Agent
with the Fund's investment adviser, administrator or distributor or
any of their affiliates; provided that such parties are subject to
obligations of confidentiality to the Fund with regard to such
Proprietary Information of the Transfer Agent no less stringent than
those set forth in this Agreement
Appendix A - 11
7.2 Proprietary Information shall not include all or any portion of any
of the foregoing items that: (i) are or become publicly available
without breach of this Agreement; (ii) are released for general
disclosure by a written release by the Transfer Agent; or (iii) are
already in the possession of the receiving party at the time of
receipt without obligation of confidentiality or breach of this
Agreement.
7.3 The Fund acknowledges that its obligation to protect the Transfer
Agent's Proprietary Information is essential to the business interest
of the Transfer Agent and that the disclosure of such Proprietary
Information in breach of this Agreement would cause the Transfer
Agent immediate, substantial and irreparable harm, the value of which
would be extremely difficult to determine. Accordingly, the parties
agree that, in addition to any other remedies that may be available
in law, equity, or otherwise for the disclosure or use of the
Proprietary Information in breach of this Agreement, the Transfer
Agent shall be entitled to seek and obtain a temporary restraining
order, injunctive relief, or other equitable relief against the
continuance of such breach.
7.4 If the Fund notifies the Transfer Agent that any of the Data Access
Services do not operate in material compliance with the most recently
issued user documentation for such services, the Transfer Agent shall
endeavor in a timely manner to correct such failure. Organizations
from which the Transfer Agent may obtain certain data included in the
Data Access Services are solely responsible for the contents of such
data and the Fund agrees to make no claim against the Transfer Agent
arising out of the contents of such third-party data, including, but
not limited to, the accuracy thereof. DATA ACCESS SERVICES AND ALL
COMPUTER PROGRAMS AND SOFTWARE SPECIFICATIONS USED IN CONNECTION
THEREWITH ARE PROVIDED ON AN AS IS, AS AVAILABLE BASIS. THE TRANSFER
AGENT EXPRESSLY DISCLAIMS ALL WARRANTIES EXCEPT THOSE EXPRESSLY
STATED HEREIN INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES
OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.
7.5 If the transactions available to the Fund include the ability to
originate electronic instructions to the Transfer Agent in order to
(i) effect the transfer or movement of cash or Shares or
(ii) transmit Shareholder information or other information, then in
such event the Transfer Agent shall be entitled to rely on the
validity and authenticity of such instruction without undertaking any
further inquiry as long as such instruction is undertaken in
conformity with security procedures established by the Transfer Agent
from time to time and agreed to by the Fund.
7.6 Each party shall take reasonable efforts to advise its employees of
their obligations pursuant to this Section 7. The obligations of this
Section shall survive any earlier termination of this Agreement.
Appendix A - 12
8. Indemnification
8.1 The Transfer Agent shall not be responsible for, and the Fund shall
indemnify and hold the Transfer Agent harmless, and with respect to
Section 8.1(f) herein, also State Street Bank and Trust Company
("State Street"), from and against, any and all losses, damages,
costs, charges, reasonable counsel fees (including the defense of any
law suit in which the Transfer Agent or its affiliate is a named
party), payments, expenses and liability arising out of or
attributable to:
(a) All actions of the Transfer Agent or its agents or subcontractors
required to be taken pursuant to this Agreement, provided that such
actions are taken in good faith and without negligence or willful
misconduct;
(b) The Fund's lack of good faith, negligence or willful misconduct;
(c) The reliance upon, and any subsequent use of or action taken or
omitted, by the Transfer Agent, or its agents or subcontractors on:
(i) any information, records, documents, data, stock certificates or
services, which are received by the Transfer Agent or its agents or
subcontractors by machine readable input, facsimile, CRT data entry,
electronic instructions or other similar means authorized by the
Fund, and which have been prepared, maintained or performed by the
Fund or any other person or firm on behalf of the Fund including but
not limited to any broker-dealer, TPA or previous transfer agent;
(ii) any instructions or requests of the Fund or any of its officers;
(iii) any instructions or opinions of legal counsel with respect to
any matter arising in connection with the services to be performed by
the Transfer Agent under this Agreement which are provided to the
Transfer Agent after consultation with such legal counsel; or
(iv) any paper or document, reasonably believed to be genuine,
authentic, or signed by the proper person or persons;
(d) The offer or sale of Shares in violation of federal or state
securities laws or regulations requiring that such Shares be
registered or in violation of any stop order or other determination
or ruling by any federal or any state agency with respect to the
offer or sale of such Shares;
(e) The acceptance of facsimile transaction requests on behalf of
individual Shareholders received from broker-dealers, TPAs or the
Fund, and the reliance by the Transfer Agent on the broker-dealer,
TPA or the Fund ensuring that the original source documentation is in
good order and properly retained;
(f) The negotiation and processing of any checks, wires or ACH
transmissions (including in connection with payroll or MSA
transmissions) including without limitation for deposit into, or
credit to, the Fund's demand deposit account maintained by the
Transfer Agent;
(g) Upon the Fund's request entering into any agreements required by
the NSCC for the transmission of Fund or Shareholder data through the
NSCC clearing systems; or
(h) The breach of any representation or warranty set forth in
Section 5 above.
Appendix A - 13
8.2 To the extent the Transfer Agent is not entitled to indemnification
pursuant to Section 8.1 above, the Fund shall not be responsible for,
and the Transfer Agent shall indemnify and hold the Fund, its Board
of Trustees, officers, employees and agents, harmless from and
against any losses, damages, costs, charges, reasonable counsel fees,
payments, expenses and liability arising directly out of or
attributable to any action or failure of the Transfer Agent to act as
a result of the Transfer's Agent's lack of good faith, negligence or
willful misconduct in the performance of its services hereunder or
the breach of any representation or warranty set forth in Section 4
above.
8.3 In order that the indemnification provisions contained in this
Section 8 shall apply, upon the assertion of an indemnification
claim, the party seeking the indemnification shall promptly notify
the other party of such assertion, and shall keep the other party
advised with respect to all developments concerning such claim. The
Fund shall have the option to participate with the Transfer Agent in
the defense of such claim or to defend against said claim in its own
name or that of the Transfer Agent. The party seeking indemnification
shall in no case confess any claim or make any compromise in any case
in which the other party may be required to indemnify it except with
the indemnifying party's written consent, which consent shall not be
unreasonably withheld.
9. Standard of Care/Limitation of Liability
The Transfer Agent shall at all times act in good faith and agrees to
use its best efforts within reasonable limits to ensure the accuracy
of all services performed under this Agreement, but assumes no
responsibility and shall not be liable for loss or damage due to
errors, including encoding and payment processing errors, unless said
errors are caused by its negligence, bad faith, or willful misconduct
or that of its employees or agents. The parties agree that any
encoding or payment processing errors shall be governed by this
standard of care and Section 4-209 of the Uniform Commercial Code is
superseded by Section 9 of this Agreement. This standard of care also
shall apply to Exception Services, as defined in Section 2.3 herein,
but such application shall take into consideration the manual
processing involved in, and time sensitive nature of, Exception
Services. Notwithstanding the foregoing, the Transfer Agent's
aggregate liability during any term of this Agreement, whether in
contract, or in tort, or otherwise shall be as determined and as set
forth on Schedule 9 to this Agreement.
10. Confidentiality
10.1 (a) The Transfer Agent and the Fund agree that they will not, at any
time during the term of this Agreement or after its termination,
reveal, divulge, or make known to any person, firm, corporation or
other business organization, any customers' lists, trade secrets,
cost figures and projections, profit figures and projections, or any
other secret or confidential information whatsoever, whether of the
Transfer Agent or of the Fund, used or gained by the Transfer Agent
or the Fund during performance under this Agreement (such party's
"Confidential Information"). The Fund and the Transfer Agent further
covenant and agree to retain all such Confidential Information of the
other party whatsoever in trust for the sole benefit of the Transfer
Agent or the Fund and their successors and assigns. In the event of
breach of the foregoing by either party, the remedies provided by
Section 7.3 shall be available to the party whose confidential
information is disclosed. The Transfer Agent acknowledges that the
Fund may share the Confidential Information of the Transfer Agent
with the Fund's investment adviser, administrator and distributor and
any
Appendix A - 14
of their affiliates, agents, legal counsel and consultants provided
that such parties are subject to obligations of confidentiality to
the Fund with regard to such Confidential Information of the Transfer
Agent no less stringent than those set forth in this Agreement.
(b) The Transfer Agent represents, covenants, and warrants that
Transfer Agent will use the nonpublic personal information of the
Fund's Shareholders ("Customer Data") only in compliance with
(i) this Agreement, (ii) its own Privacy and Information Sharing
Policy, as amended from time to time, (iii) the Xxxxx-Xxxxx-Xxxxxx
Act (the "GLB Act") and Regulation S-P promulgated thereunder to the
extent each is specifically applicable to its transfer agency
business, and (iv) as directed by authorized persons of the Fund in
writing and will not, except as set forth above, at any time during
the term of this Agreement or after its termination, reveal, divulge
or make known to any person, firm or other business organization any
Customer Data as obtained by the Transfer Agent in performance of its
services pursuant to this Agreement.
10.2 In the event that any requests or demands are made for the inspection
of the Shareholder records of the Fund, other than request for
records of Shareholders pursuant to standard subpoenas from state or
federal government authorities (i.e., divorce and criminal actions),
the Transfer Agent will use best efforts to notify the Fund and to
secure instructions from an authorized officer of the Fund as to such
inspection. The Transfer Agent expressly reserves the right, however,
to exhibit the Shareholder records to any person whenever it is
advised by counsel that it may be held liable for the failure to
exhibit the Shareholder records to such person or if required by law
or court order.
11. Covenants of the Fund and the Transfer Agent
11.1 The Fund shall promptly furnish to the Transfer Agent the following:
(a) A certified copy of the resolution of the Board of Trustees of
the Fund authorizing the appointment of the Transfer Agent and the
execution and delivery of this Agreement; and
(b) A copy of the Agreement and Declaration of Trust and By-Laws of
the Fund and all amendments thereto.
11.2 The Transfer Agent hereby agrees to establish and maintain facilities
and procedures reasonably acceptable to the Fund for safekeeping of
stock certificates, check forms and facsimile signature imprinting
devices, if any; and for the preparation or use, and for keeping
account of, such certificates, forms and devices.
11.3 The Transfer Agent shall keep records relating to the services to be
performed hereunder, in the form and manner as it may deem advisable.
To the extent required by Section 31 of the Investment Company Act of
1940, as amended, and the rules thereunder, the Transfer Agent agrees
that all such records prepared or maintained by the Transfer Agent
relating to the services to be performed by the Transfer Agent
hereunder are the property of the Fund and will be preserved,
maintained and made available in accordance with such Section and
rules thereunder, and will be surrendered promptly to the Fund on and
in accordance with its request.
11.4 The Transfer Agent shall maintain a fidelity bond covering larceny
and embezzlement and an insurance policy with respect to directors'
and officers' errors and omissions
Appendix A - 15
coverage in amounts that are appropriate in light of its duties and
responsibilities hereunder. Upon the request of the Fund, the
Transfer Agent shall provide evidence that coverage is in place. The
Transfer Agent shall notify the Fund should its insurance coverage
with respect to professional liability or errors and omissions be
canceled. Such notification shall include the date of cancellation
and the reasons therefore. The Transfer Agent shall notify the Fund
of any material claims against it with respect to the services
provided under this Agreement to the Fund, whether or not they may be
covered by insurance, and shall notify the Fund should the total
outstanding claims made by the Transfer Agent under its insurance
coverage materially impair, or threaten to materially impair, the
adequacy of its coverage.
12. Termination of Agreement
12.1 Term. The initial term of this Agreement (the "Initial Term") shall
be three (3) years from the date first stated above unless terminated
pursuant to the provisions of this Section 12. Unless a terminating
party gives written notice to the other party at least one hundred
and twenty (120) days before the expiration of the Initial Term or
any Renewal Term (as defined herein), this Agreement will renew
automatically for an additional one-year term and, thereafter, for
successive one-year terms (each such year-to-year renewal term, a
"Renewal Term"). Notwithstanding the foregoing, during a Renewal
Term, this Agreement may be terminated by either party upon at least
one hundred and twenty (120) days' written notice to the other party.
The notification requirements herein shall not apply to a termination
for cause, which shall be governed by the provisions of Section 12.6
below. One hundred and twenty (120) days before the expiration of the
Initial Term or a Renewal Term the parties to this Agreement will
agree upon a Fee Schedule for the upcoming Renewal Term. Otherwise,
the fees shall be increased pursuant to Section 3.5 of this Agreement.
12.2 Early Termination. Notwithstanding anything contained in this
Agreement to the contrary, should the Fund desire to move any of its
services provided by the Transfer Agent hereunder to a successor
service provider prior to the expiration of the then-current Initial
or Renewal Term, or without the required notice, the Transfer Agent
shall make a good faith effort to facilitate the conversion on such
prior date; however, there can be no guarantee or assurance that the
Transfer Agent will be able to facilitate a conversion of services on
such prior date. In connection with the foregoing, if during the
Initial Term, the Fund should convert all or substantially all of
such services to a successor service provider, or if the Fund or
substantially all of its Portfolios are liquidated or all or
substantially all of its assets are merged or purchased or the like
with or by another entity which does not utilize the services of the
Transfer Agent, its affiliates or the TA2000 platform as set forth
below, the fees payable to the Transfer Agent shall be calculated as
if the services had been performed by the Transfer Agent until the
expiration of the Initial Term and calculated at the asset and/or
Shareholder account levels, as the case may be, on the date notice of
termination was given to the Transfer Agent, and the payment of all
fees to the Transfer Agent as set forth herein shall be accelerated
to the business day immediately prior to the conversion or
termination of services (the "Early Termination Fee"). In the event
that (i) the Fund terminates this Agreement as the result of its
acquisition by or merger into another fund and such other fund's
shareholder records are, at the time of such acquisition or merger,
maintained by the Transfer Agent or its affiliates, or (ii) the Fund
wishes to move its transfer agency servicing operation from the
Transfer
Appendix A - 16
Agent to an affiliated entity or another DST TA2000 platform (i.e.,
become a remote user of DST's TA2000 system) as the result of Fund's
acquisition by or merger into another fund, then the parties agree to
negotiate in good faith to determine whether or to what extent the
Early Termination Fee shall apply to such termination.
12.3 Termination Expenses and Costs. During the Initial Term or Renewal
Term, whichever currently is in effect, should either party exercise
its right to terminate, all out-of-pocket expenses or costs
associated with the movement of records and material will be borne by
the Fund. Additionally, the Transfer Agent reserves the right to
charge for any other reasonable expenses associated with such
termination.
12.4 Confidential Information. Upon termination of this Agreement, each
party shall return to the other party all copies of confidential or
proprietary materials or information received from such other party
hereunder, other than materials or information required to be
retained by such party under applicable laws or regulations. Each
party hereby agrees to dispose of any "consumer report information,"
as such term is defined under Regulation S-P promulgated under the
GLB Act, in accordance with the provisions of Regulation S-P and the
GLB Act applicable to its respective business.
12.5 Unpaid Invoices. Except with respect to any amount subject to a good
faith dispute within the meaning of Section 3.4 of this Agreement,
the Transfer Agent may terminate this Agreement in the event that an
invoice payable by the Fund to the Transfer Agent remains outstanding
for more than ninety (90) days; provided that the Transfer Agent has
provided written notice to the Fund at least thirty (30) days prior
to such termination (which notice may be provided prior to the
expiration of the ninety (90) day period).
12.6 Termination by either Party for Cause. In the event that: (i) the
Transfer Agent defaults in the performance of its obligations under
Schedule 1.3 "Service Level Agreement" in accordance with the terms
of such schedule and, as a result thereof, the Fund is entitled to
exercise a Service Level Termination Right as defined in such
schedule or (ii) either party fails perform its duties hereunder
(including any material interruption or cessation of its operations),
which failure materially adversely affects the business operations of
the other party and which failure continues for thirty (30) days
after receipt of written notice from the first party, unless such
failure is excused under the terms of Schedule 1.3 or Section 15.3
(Force Majeure) of this Agreement, such non-defaulting party may
terminate this Agreement by giving written notice to the other party
as of the termination date specified in the notice of termination.
The Transfer Agent shall make a good faith effort to facilitate
conversion as described in Section 12.2 above. In the event of a
termination by the Fund for cause, the Fund shall not be obligated to
pay the Early Termination Fee as defined in Section 12.2 above.
13. Assignment and Third Party Beneficiaries
13.1 Except as provided in Section 14.1 below neither this Agreement nor
any rights or obligations hereunder may be assigned by either party
without the written consent of the other party. Any attempt to do so
in violation of this Section shall be void. Unless specifically
stated to the contrary in any written consent to an assignment, no
assignment will release or discharge the assignor from any duty or
responsibility under this Agreement. For the avoidance of doubt, a
transaction involving a merger or sale of
Appendix A - 17
substantially all of the assets of a Portfolio or a Fund shall not
require the written consent of the Transfer Agent.
13.2 Except as explicitly stated elsewhere in this Agreement, nothing
under this Agreement shall be construed to give any rights or
benefits in this Agreement to anyone other than the Transfer Agent
and the Fund, and the duties and responsibilities undertaken pursuant
to this Agreement shall be for the sole and exclusive benefit of the
Transfer Agent and the Fund. This Agreement shall inure to the
benefit of and be binding upon the parties and their respective
permitted successors and assigns.
13.3 This Agreement does not constitute an agreement for a partnership or
joint venture between the Transfer Agent and the Fund. Other than as
provided in Section 14.1 and Schedule 1.2(f), neither party shall
make any commitments with third parties that are binding on the other
party without the other party's prior written consent.
14. Subcontractors
14.1 The Transfer Agent may, without further consent on the part of the
Fund, subcontract for the performance hereof with an affiliate of the
Transfer Agent duly registered as a transfer agent or, with regard to
print/mail services, with another affiliate or provider; provided,
however, that consent of the Fund shall be required with regard to
print/mail services which the Fund currently maintains by a separate
agreement. The Transfer Agent shall be fully responsible to the Fund
for the acts and omissions of its affiliate as it is for its own acts
and omissions. With regard to print/mail services that are provided
by a vendor not affiliated with the Transfer Agent, the Transfer
Agent will use all reasonable commercial efforts to coordinate with
such outside print/mail vendor and to timely and accurately provide
all information requested by such print/mail vendor; provided,
however, that the Transfer Agent shall not be held liable to the Fund
or any affiliated party of the Fund for any act or failure to act by
such outside print/mail vendor except where the Transfer Agent's
negligent acts or omissions were the proximate cause of such vendor's
non-performance.
14.2 Nothing herein shall impose any duty upon the Transfer Agent in
connection with or make the Transfer Agent liable for the actions or
omissions to act of unaffiliated third parties such as by way of
example and not limitation, Airborne Services, Federal Express,
United Parcel Service, the U.S. Mails, the NSCC and telecommunication
companies, provided that, if the Transfer Agent selected such
company, the Transfer Agent shall have exercised due care in
selecting the same.
15. Miscellaneous
15.1 Amendment. This Agreement may be amended or modified only by a
written agreement executed by both parties.
15.2 Massachusetts Law to Apply. This Agreement shall be construed and the
provisions thereof interpreted under and in accordance with the laws
of The Commonwealth of Massachusetts.
15.3 Force Majeure. In the event either party is unable to perform its
obligations under the terms of this Agreement because of acts of God,
acts of war or terrorism, strikes,
Appendix A - 18
equipment or transmission failure or damage reasonably beyond its
control, or other causes reasonably beyond its control, such party
shall not be liable for damages to the other for any damages
resulting from such failure to perform or otherwise from such causes;
provided, however, that this provision shall not imply that the
Transfer Agent is excused from maintaining reasonable business
continuity plans to address potential service outages.
15.4 Consequential Damages. Neither party to this Agreement shall be
liable to the other party for special, indirect or consequential
damages under any provision of this Agreement or for any special,
indirect or consequential damages arising out of any act or failure
to act hereunder.
15.5 Survival. All provisions regarding indemnification, warranty,
liability, and limits thereon, and confidentiality and/or protections
of proprietary rights and trade secrets shall survive the termination
of this Agreement.
15.6 Severability. If any provision or provisions of this Agreement shall
be held invalid, unlawful, or unenforceable, the validity, legality,
and enforceability of the remaining provisions shall not in any way
be affected or impaired.
15.7 The Parties. All references herein to the "Fund" are to each of the
management investment companies listed on Appendix A hereto, and each
management company made subject to this Agreement in accordance with
Section 16 below, individually, as if the Agreement were between each
such Fund and the Transfer Agent. In the case of a series trust, all
references to "Portfolio" are to the individual series or portfolio
of such trust or to such trust on behalf of the individual series or
portfolio, as appropriate.
15.8 Priorities Clause. In the event of any conflict, discrepancy or
ambiguity between the terms and conditions contained in this
Agreement and any Schedules or attachments hereto, the terms and
conditions contained in this Agreement shall take precedence.
15.9 Waiver. No waiver by either party or any breach or default of any of
the covenants or conditions herein contained and performed by the
other party shall be construed as a waiver of any succeeding breach
of the same or of any other covenant or condition.
15.10 Merger of Agreement. This Agreement constitutes the entire agreement
between the parties hereto and supersedes any prior agreement with
respect to the subject matter hereof whether oral or written.
15.11 Counterparts. This Agreement may be executed by the parties hereto in
any number of counterparts, and all of said counterparts taken
together shall be deemed to constitute one and the same instrument.
15.12 Reproduction of Documents. This Agreement and all schedules,
exhibits, attachments and amendments hereto may be reproduced by any
photographic, photostatic, microfilm, micro-card, miniature
photographic or other similar process. The parties hereto each agree
that any such reproduction shall be admissible in evidence as the
original itself in any judicial or administrative proceeding, whether
or not the original is in existence and whether or not such
reproduction was made by a party in the regular course of business,
Appendix A - 19
and that any enlargement, facsimile or further reproduction shall
likewise be admissible in evidence.
15.13 Notices. All notices and other communications as required or
permitted hereunder shall be in writing and sent by first class mail,
postage prepaid, addressed as follows or to such other address or
addresses of which the respective party shall have notified the other.
(a) If to Boston Financial Data Services, Inc., to:
Boston Financial Data Services, Inc.
0 Xxxxxxxx Xxxxx, 0xx Xxxxx
Xxxxx Xxxxxx, Xxxxxxxxxxxxx 00000
Attention: Legal Department
Facsimile: (000) 000-0000
(b) If to an entity set forth on Appendix A hereto, to:
Secretary of the Fund
c/o General Counsel
000 Xxxxxxxx Xxxxxx
Xxxxxx, Xxxxxxxxxxxxx 00000
Facsimile: (000) 000-0000
16. Additional Funds/Portfolios
In the event that the Fund establishes one or more series of Shares,
in addition to those listed on the attached Appendix A, with respect
to which it desires to have the Transfer Agent render services as
transfer agent under the terms hereof, it shall so notify the
Transfer Agent in writing, and if the Transfer Agent agrees in
writing to provide such services, such series of Shares shall become
a Portfolio hereunder. Furthermore, in the event that one or more
additional funds affiliated with the Fund desire(s) to have the
Transfer Agent render services as transfer agent under the terms
hereof, such fund or funds shall so notify the Transfer Agent in
writing, and if the Transfer Agent agrees in writing to provide such
services, such fund or funds, together with their portfolios, may
become parties to this Agreement by execution of a counterpart
signature page hereto.
In the event that new affiliated funds and their portfolios become
parties to this Agreement, the fees and expenses set forth on
Schedule 3.1 shall apply to such funds and portfolios for their
applicable initial term or renewal term, provided that the
requirements of such funds and portfolios are generally consistent
with the services then being provided by the Transfer Agent under
this Agreement to the Fund and its Portfolios. Notwithstanding the
foregoing, however, at such time as the number of CUSIPs serviced by
the Transfer Agent for all IXIS Advisor and Xxxxxx Xxxxxx funds and
their affiliated funds has increased by forty percent (40%) or more
from the number of CUSIPs serviced by the Transfer Agent on the first
date of this Agreement (as to all IXIS Advisor and Xxxxxx Xxxxxx
funds and their affiliates together) the parties agree to review and,
if necessary, negotiate the fees and expenses set forth on Schedule
3.1 for the Fund and its Portfolios and any new affiliated funds and
their portfolios in light of the additional administrative, technical
and other service costs imposed on the Transfer Agent by such
additional services.
Appendix A - 20
17. Limitations of Liability of the Trustees and Shareholders
A copy of the Agreement and Declaration of Trust of each Fund listed
on Appendix A is on file with the Secretary of the Commonwealth of
Massachusetts, and notice is hereby given that this instrument is
executed by an officer of the Trust on behalf of the Trustees of the
Trust as Trustees and not individually and that the obligations of
this instrument are not binding upon any of the Trustees, officers or
Shareholders individually but are binding only upon the assets and
property of the Fund.
[THE REMAINDER OF THE PAGE IS INTENTIONALLY LEFT BLANK]
Appendix A - 21
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to
be executed in their names and on their behalf by and through their
duly authorized officers, as of the day and year first above written.
IXIS ADVISOR CASH MANAGEMENT TRUST
IXIS ADVISOR FUNDS TRUST I
IXIS ADVISOR FUNDS TRUST II
IXIS ADVISOR FUNDS TRUST III
IXIS ADVISOR FUNDS TRUST IV
XXXXXX XXXXXX FUNDS I
XXXXXX XXXXXX FUNDS II
By: /s/ Xxxx X. Xxxxxxxxx
----------------------------------
Name: Xxxx Xxxxxxxxx
Title: Chief Operating Officer
As an Authorized Officer on behalf of
each of the Funds listed above.
ATTEST:
/s/ Xxxxxx Xxxxx Xxxxxxx
----------------------------------
BOSTON FINANCIAL DATA SERVICES, INC.
By: /s/ Xxxxxxx Xxx
----------------------------------
Name: Xxxxxxx Xxx
Title: Senior Vice President
ATTEST:
/s/ Xxxxxxxxx Xxxxx
----------------------------------
Appendix A - 22
APPENDIX A
Funds and Portfolios
Dated: October 1, 2005
IXIS Advisor Cash Management Trust, a business trust organized under the laws
of the Commonwealth of Massachusetts
IXIS Cash Management Trust - Money Market Series (formerly, CDC Nvest Cash
Management Trust - Money Market Series)
IXIS Advisor Funds Trust I, a business trust organized under the laws of the
Commonwealth of Massachusetts
CGM Advisor Targeted Equity Fund
Xxxxxxxxxx International Fund
IXIS U.S. Diversified Portfolio (formerly, CDC Nvest Star Advisers Fund)
IXIS Value Fund (formerly, CDC Nvest Star Value Fund)
Xxxxxx Xxxxxx Core Plus Bond Fund
Xxxxxxx Xxxxxx Small Cap Value Fund
Westpeak Capital Growth Fund
IXIS Advisor Funds Trust II , a business trust organized under the laws of the
Commonwealth of Massachusetts
Xxxxxx Associates Large Cap Value Fund
Xxxxxx Xxxxxx Massachusetts Tax Free Income Fund
IXIS Advisor Funds Trust III, a business trust organized under the laws of the
Commonwealth of Massachusetts
Xxxxxx Associates Focused Value Fund
IXIS Equity Diversified Portfolio
IXIS Moderate Diversified Portfolio (formerly, CDC IXIS Moderate Diversified
Portfolio)
IXIS Advisor Funds Trust IV, a business trust organized under the laws of the
Commonwealth of Massachusetts
AEW Real Estate Fund
Xxxxxx Xxxxxx Funds I, a business trust organized under the laws of the
Commonwealth of Massachusetts
Xxxxxx Xxxxxx Bond Fund
Xxxxxx Xxxxxx Fixed Income Fund
Schedule 9 - 1
Xxxxxx Xxxxxx Global Bond Fund
Xxxxxx Xxxxxx High Income Opportunities Fund
Xxxxxx Xxxxxx Inflation Protected Securities Fund
Xxxxxx Xxxxxx Institutional High Income Fund
Xxxxxx Xxxxxx Intermediate Duration Fixed Income Fund
Xxxxxx Xxxxxx Investment Grade Fixed Income Fund
Xxxxxx Xxxxxx Securitized Asset Fund
Xxxxxx Xxxxxx Small Cap Value Fund
Xxxxxx Xxxxxx Funds II, a business trust organized under the laws of the
Commonwealth of Massachusetts
Xxxxxx Xxxxxx Aggressive Growth Fund
Xxxxxx Xxxxxx Growth Fund
Xxxxxx Xxxxxx High Income Fund
Xxxxxx Xxxxxx Investment Grade Bond Fund (except for Class J shares)
Xxxxxx Xxxxxx Limited Term Government and Agency Fund
Xxxxxx Xxxxxx Municipal Income Fund
Xxxxxx Xxxxxx Research Fund
Xxxxxx Xxxxxx Small Cap Growth Fund
Xxxxxx Xxxxxx Strategic Income Fund
Xxxxxx Xxxxxx Tax-Managed Equity Fund
Xxxxxx Xxxxxx Value Fund
Xxxxxx Xxxxxx Worldwide Fund
IXIS ADVISOR CASH MANAGEMENT
TRUST
IXIS ADVISOR FUNDS TRUST I
IXIS ADVISOR FUNDS TRUST II
IXIS ADVISOR FUNDS TRUST III
IXIS ADVISOR FUNDS TRUST IV
XXXXXX XXXXXX FUNDS I
XXXXXX XXXXXX FUNDS II BOSTON FINANCIAL DATA SERVICES, INC.
By: /s/ Xxxx X. Xxxxxxxxx By: /s/ Xxxxxxx Xxx
----------------------------- --------------------------
Name: Xxxx Xxxxxxxxx Name: Xxxxxxx Xxx
Title: Chief Operating Officer Title: Senior Vice President
As an Authorized Officer on behalf
of each of the Funds listedabove.
Schedule 9 - 2
