EXHIBIT 10 - IN REFERENCE TO ITEM 77.Q3 ADMINISTRATION AGREEMENT AGREEMENT made this 1st day of December, 1996 by and between The Hyperion Total Return Fund, Inc., a Maryland corporation (hereinafter called the "Fund"), and Hyperion Capital...Administration Agreement • January 28th, 1997 • Hyperion Total Return Fund Inc • New York
WHEREAS, The Fund intends to engage in business as a closed-end diversified management investment company and is registered as such under the Investment Company Act of 1940, as amended (the "1940 Act"); and WHEREAS, The Fund and Hyperion Capital Management, Inc. (the "Investment Adviser") are entering into an Investment Advisory Agreement (the "Investment Advisory Agreement") pursuant to which the Investment Adviser will provide investment advice to the Fund and be responsible for the portfolio management of the Fund; and WHEREAS, The Fund desires to retain the Administrator to render administrative services in the manner and on the terms and conditions hereafter set forth; and WHEREAS, The Administrator desires to be retained to perform services on said terms and conditions. NOW, THEREFORE, in consideration of the premises and the mutual covenants hereinafter contained, the Fund and the Administrator agree as follows: 1. Duties of the Administrator. The Fund hereby retains the Adminis
