Exhibit 23 d(i) under Form N-1A
Exhibit 10 under Item 601/Reg. S-K
FEDERATED INDEX TRUST
SUB-MANAGEMENT CONTRACT
This Contract is made between FEDERATED MANAGEMENT, a Delaware business
trust, having its principal place of business in Pittsburgh, Pennsylvania
(hereinafter referred to as "Manager"), and ANB Investment Management and Trust
Company, an Illinois corporation, having its principal place of business in
Chicago, Illinois (hereinafter referred to as "ANB").
WHEREAS the Federated Index Trust (the "Trust"), an open-end management
investment company, as that term is defined in the Investment Company Act
of 1940 ("Act"), that is registered as such with the Securities and
Exchange Commission has appointed Federated Management as investment
manager for its portfolios (the "Funds"); and
WHEREAS ANB is engaged in the business of rendering investment management
services.
NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby
agree as follows:
1. Manager hereby retains ANB to assist Manager in its capacity as
investment manager for the Funds. Subject to the direction of the Manager and
the Trustees of the Trust, ANB shall provide of appropriate sale of other
disposition and reinvestment of the assets of the Funds assigned to ANB.
2. ANB, in its supervision of the investments of the Funds, will be guided
by the Funds' investment objectives and policies and the provisions and
restrictions contained in the Declaration of Trust and By-Laws of the Trust and
as set forth in the Registration Statements and exhibits as may be on file with
the Securities and Exchange Commission, all as communicated by the Manager to
ANB.
3. Manager shall pay to ANB, for all services rendered to the Funds by ANB
hereunder, the fees set forth in the Exhibit attached
hereto.
4. The term of this Contract shall begin on the date of its execution and
shall remain in effect for two years from that date and from year to year
thereafter, subject to the provisions for termination and all of the other terms
and conditions hereof if: (a) such continuation shall be specifically approved
at least annually by the vote of a majority of the Trustees of the Trust,
including a majority of the Trustees who are not interested persons, as defined
in Section 2(a)(19) of the Act, of any party (other than as Trustees of the
Trust) cast in person at a meeting called for that purpose; and (b) Manager
shall not have notified the Trust in writing at least sixty (60) days prior to
the anniversary date of this Contract in any year thereafter that it does not
desire such continuation with respect to that Fund.
5. Notwithstanding any provision in this Contract, it may be terminated at
any time without the payment of any penalty, by the Trustees of the Trust or by
a vote of a majority of the outstanding voting securities of the Funds, as
defined in Section 2(a)(42) of the Act, on sixty (60) days' written notice to
ANB, or by the Manager or ANB upon not less than sixty (60) days' written notice
to the other party.
6. This Contract may not be assigned by Manager or ANB and shall
automatically terminate in the event of any assignment. ANB may employ or
contract with such other person, persons, corporation, or corporations at its
own cost and expense as it shall determine in order to assist it in carrying out
this Contract.
7. In the absence of willful misfeasance, bad faith, gross negligence, or
reckless disregard of the obligations or duties under this Contract on the part
of ANB, ANB shall not be liable to the Manager, the Trust, the Funds, or to any
shareholder for any act or omission in the course of or connected in any way
with rendering services or for any losses that may be sustained in the purchase,
holding, or sale of any securities.
8. This Contract may be amended at any time by agreement of the parties,
provided that the amendment shall be approved both by the vote of a majority of
the Trustees of the Trust, including a majority of the Trustees who are not
interested persons, as defined in Section 2(a)(19) of the Act, of any party to
this Contract (other than as Trustees of the Trust) cast in person at a meeting
called for that purpose, and on behalf of the Funds by the holders of a majority
of the outstanding voting securities of the Funds, as defined in Section
2(a)(42) of the Act.
9. ANB is hereby expressly put on notice of the limitation of liability as
set forth in the Declaration of Trust of the Manager and agrees that the
obligations assumed by the Manager pursuant to this Contract shall be limited in
any case to the Manager and its assets and shall not seek satisfaction of any
such obligation from the shareholders of the Manager, the Trustees, officers,
employees or agents of the Manager, or any of them.
10. This Contract shall be construed in accordance with and governed by
the laws of the Commonwealth of Pennsylvania.
11. This Contract will become binding on the parties hereto upon this
execution of the attached exhibits to this Contract.
EXHIBIT A
FEDERATED INDEX TRUST
SUB-MANAGEMENT CONTRACT
FEDERATED MAX-CAP FUND
For all services rendered by ANB hereunder, the Manager shall pay to ANB
and ANB agrees to accept as full compensation for all services rendered
hereunder, an annual fee as follows:
.05 of 1% on an annualized basis of the first $100 million of net assets
under management.
.02 of 1% on an annualized basis of any net assets under management over
and above $100 million but not exceeding $200 million.
.01 of 1% on an annualized basis of any net assets under management over
and above $200 million.
Such fee shall accrue daily and be paid monthly.
Witness the due execution hereof this 31st day of December, 1997.
FEDERATED MANAGEMENT
By: /S/ XXXXXX X. XXXXXX
Name: Xxxxxx X. Xxxxxx
Title: Vice President
NORTHERN TRUST QUANTITATIVE ADVISORS, INC.
f/k/a ANB INVESTMENT MANAGEMENT
AND TRUST COMPANY
By: /S/ XXXXX X. XXXXXX
Name: Xxxxx X. Xxxxxx
Title: Chairman, Director & Chief Executive Officer
EXHIBIT B
FEDERATED INDEX TRUST
SUB-MANAGEMENT CONTRACT
FEDERATED MID-CAP FUND
For all services rendered by ANB hereunder, the Manager shall pay to ANB
and ANB agrees to accept as full compensation for all services rendered
hereunder .035 of 1% on an annualized basis of net assets under management.
Such fee shall accrue daily and be paid monthly.
Witness the due execution hereof this 31st day of December, 1997.
FEDERATED MANAGEMENT
By: /S/ XXXXXX X. XXXXXX
Name: Xxxxxx X. Xxxxxx
Title: Vice President
NORTHERN TRUST QUANTITATIVE ADVISORS, INC.
f/k/a ANB INVESTMENT MANAGEMENT
AND TRUST COMPANY
By: /S/ XXXXX X. XXXXXX
Name: Xxxxx X. Xxxxxx
Title: Chairman, Director & Chief Executive Officer
EXHIBIT C
FEDERATED INDEX TRUST
SUB-MANAGEMENT CONTRACT
FEDERATED MINI-CAP FUND
For all services rendered by ANB hereunder, the Manager shall pay to ANB
and ANB agrees to accept as full compensation for all services rendered
hereunder .065 of 1% on an annualized basis of net assets under management.
Such fee shall accrue daily and be paid monthly.
Witness the due execution hereof this 31st day of December, 1997.
FEDERATED MANAGEMENT
By: /S/ XXXXXX X. XXXXXX
Name: Xxxxxx X. Xxxxxx
Title: Vice President
NORTHERN TRUST QUANTITATIVE ADVISORS, INC.
f/k/a ANB INVESTMENT MANAGEMENT
AND TRUST COMPANY
By: /S/ XXXXX X. XXXXXX
Name: Xxxxx X. Xxxxxx
Title: Chairman, Director & Chief Executive Officer
