ALLIED ASSET ADVISORS FUNDS AMENDMENT TO THE DISTRIBUTION AGREEMENT
AMENDMENT
TO THE
THIS AMENDMENT dated as of
this 13th
day of December,
2006, to the Distribution Agreement dated as of the 26th day of
August, 2002, as amended August 16, 2006, (the "Agreement"), is entered by and
among ALLIED ASSET ADVISOR
FUNDS, a Delaware statutory trust (the “Trust”), ALLIED ASSET ADVISORS, INC., a
Delaware corporation, (the “Adviser”) and QUASAR DISTRIBUTORS, LLC, a
Delaware limited liability company (the “Distributor”).
Effective September 1, 2006, Exhibit B,
the fee schedule of the Agreement is hereby superseded and replaced with Exhibit
B, the fee schedule attached hereto. Except to the extent amended
hereby, the Agreement shall remain in full force and effect.
IN
WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by
a duly authorized officer on one or more counterparts as of the day and year
first written above.
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ALLIED
ASSET ADVISOR FUNDS
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QUASAR
DISTRIBUTORS, LLC
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By: /s/
Xxxxxx
Xxxxx
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By: /s/
Xxxxx
Xxxxxxxxx
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Name: Xxxxx
Xxxxxxxxx
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Name: Xxxxxx
Xxxxx
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Title: President
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Title: President
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ALLIED
ASSET ADVISORS, INC.
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By: /s/
Xxxxxx
Xxxxx
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Name: Xxxxxx
Xxxxx
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Title: President
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1
Schedule
B
to
the Distribution Agreement
by
and among
Allied
Asset Advisors, Inc.
and
Quasar Distributors, LLC
As
of September, 2006
Fees
Basic
Distribution Services
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·
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Fee
at the annual rate of .01 of 1% (one basis point) of the Fund’s average
daily net assets, payable monthly in
arrears
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·
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Minimum
annual fee: first fund – $12,000; each additional fund --
$3,000
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| After 12 months, minimum on first fund increases to $15,000 |
Advertising
Compliance Review/NASD Filings
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·
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$175 per job for
the first 10 pages (minutes if tape or video); $20 per page
(minutes if tape or video)
thereafter.
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Non-NASD
filed materials, e.g. Internal Use Only materials:
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·
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$100 per job for
the first 10 pages (minutes if tape or video); $20 per page
(minutes if tape or video)
thereafter.
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NASD
Expedited Service for 3 day turnaround:
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·
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$650 for the
first 10 pages (minutes if audio or video) $25 per page
(minutes if audio or video) thereafter. (Comments are
faxed. NASD may not accept expedited
request.)
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Licensing of Investment
Advisor’s Staff (if desired)
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·
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$900 annual fee
per registered representative
(“RR”).
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Quasar
is limited to these licenses for sponsorship:
6 7 24 26 27 63 66 63/65
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·
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All
associated NASD and State fees for RRs, including license and renewal
fees.
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Out-of-Pocket
Expenses
Reasonable
out-of-pocket expenses incurred by the Distributor in connection with activities
primarily intended to result in the sale of Shares, including, without
limitation:
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·
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typesetting,
printing and distribution of Prospectuses and shareholder
reports
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·
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production,
printing, distribution and placement of advertising and sales literature
and materials
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·
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engagement
of designers, free-xxxxx writers and public relations
firms
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·
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long-distance
telephone lines, services and
charges
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·
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postage
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·
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overnight
delivery charges
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·
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NASD
registration fees
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(NASD
advertising filing fees are included in Advertising Compliance Review section
above)
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·
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record
retention
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·
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travel,
lodging and meals
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2
Schedule
B
to
the Distribution Agreement
by
and among
Allied
Asset Advisors, Inc.
and
Quasar Distributors, LLC
at
September, 2006
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CHIEF COMPLIANCE
OFFICER
SUPPORT SERVICES
FEE
SCHEDULE
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Chief Compliance Officer Support
Services
U.S, Bancorp provides support to
the Chief Compliance Officer (CCO) of each fund serviced either by
U.S. Bancorp Fund Services, LLC or
Quasar Distributors, LLC. Indicated below are samples of
functions performed by USBFS in this CCO support role:
• Business Line Functions
Supported
• Fund Administration and
Compliance
• Transfer Agent and Shareholder
Services
• Fund
Accounting
• Custody
Services
• Securities Lending
Services
• Distribution
Services
• Daily Resource to Fund CCO, Fund Board,
Advisor
• Provide USBFS/USB Critical
Procedures & Compliance Controls
• Daily and Periodic
Reporting
• Periodic CCO Conference
Calls
• Dissemination of
Industry/Regulatory Information
• Client & Business Line CCO
Education & Training
• Due Diligence Review of USBFS
Service Facilities
• Quarterly USBFS
Certification
• Board Meeting Presentation and
Board Support
• Testing, Documentation,
Reporting
Annual Fee Schedule*
· $1,200 per service per year
Fees are billed
monthly.
*Subject to annual CPI increase,
Milwaukee MSA.
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