AMENDMENT TO THE TRANSFER AGENCY AND SERVICES AGREEMENT
THIS AMENDMENT, dated as of June 30, 1998 is made to the Transfer
Agency and Services Agreement dated November 15, 1996 (the "Transfer Agent
Agreement") between KOBREN INSIGHT FUNDS (the "Fund") and FIRST DATA INVESTOR
SERVICES GROUP, INC. ("Investor Services Group").
WITNESSETH
WHEREAS, Investor Services Group has developed a recordkeeping service
link ("DCXchangesm") between investment companies and benefit plan consultants
(the "Recordkeepers") which administer employee benefit plans, including plans
qualified under Section 401(a) of the Internal Revenue Code (the "Plans"); and
WHEREAS, Investor Services Group has entered into agreements with
various Recordkeepers relating to the recordkeeping and related services
performed on behalf of such Plans in connection with daily valuation and
processing of orders for investment and reinvestment of assets of the Plans in
various investment options available to the participants under such Plans (the
"Participants"); and
WHEREAS, the Fund, on behalf of the Portfolios set forth in the
attached Exhibit 1, desires to participate in the DCXchangesm Program and retain
Investor Services Group to perform such services with respect to shares of the
Funds ("Shares") held by or on behalf of the Participants as further described
herein and Investor Services Group is willing and able to furnish such services
on the terms and conditions hereinafter set forth.
NOW THEREFORE, the Fund and Investor Services Group agree that as of
the date first referenced above, the Transfer Agent Agreement shall be amended
as follows:
1. Investor Services Group agrees to perform recordkeeping and related
services for the benefit of the Plan Participants that maintain shares
of the Fund through Plans administered by certain Recordkeepers.
Investor Services Group shall subcontract with Recordkeepers to link
the Investor Services Group recordkeeping system with the
Recordkeepers, in order for the Recordkeepers to maintain Fund shares
positions for each Participant. Fund positions of the Participants
shall constitute open accounts for which the Fund shall pay to Investor
Services Group the annual fees specified in the schedule of fees
attached hereto as Schedule A.
2. This Amendment contains the entire understanding between the parties
with respect to the transactions contemplated hereby. To the extent
that any provision of this Amendment modifies or is otherwise
inconsistent with any provision of the Transfer Agent Agreement and
related agreements, this Amendment shall control, but the Transfer
Agent Agreement and all related documents shall otherwise remain in
full force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their duly authorized officers, as of the day and year first above
written.
KOBREN INSIGHT FUNDS
By: /s/Xxxx Xxxxx
Title:Vice President
FIRST DATA INVESTOR SERVICES
GROUP, INC.
By: /s/Xxxxxx Xxxxxxxxxxx
Title:Senior Vice President
Schedule A
DCXchangesm Fees
The Fund shall pay Investor Services Group annualized fees of 25 basis points on
each Plan Participant account in the respective portfolio that is open during
any monthly period. These fees shall be billed by Investor Services Group
monthly in arrears on a prorated basis of 1/12 of the annualized fee for all
accounts that are open during such month.
- Printing costs, including certificates, envelopes, checks and stationery -
Postage (bulk, pre-sort, Zip+4, barcoding, first class) direct pass through to
the Fund - Due diligence mailings - Ad hoc reports - Proxy solicitations,
mailings and tabulations - Courier services
The Fund shall also reimburse Investor Services Group monthly for such other
miscellaneous expenses reasonably incurred by Investor Services Group in
performing its duties and responsibilities under this Agreement, as pre-approved
by the Fund. The Fund further agrees that any volume discounts achieved by
Investor Services Group on behalf of its clients shall be returned by Investor
Services Group, unless otherwise agreed to by Investor Services Group and the
Fund.
The Fund will pay to Investor Services Group the amount so billed by Federal
Funds Wire within fifteen (15) days after the Fund's receipt of the invoice. In
addition, with respect to all fees under this Amendment, Investor Services Group
may charge a service fee equal to the lesser of (i) one and one half percent
(1-1/2%) per month or (ii) the highest interest rate legally permitted on any
past due invoiced amounts.
EXHIBIT 1
LIST OF PORTFOLIOS
Kobren Growth Fund
Kobren Moderate Growth Fund
Kobren Conservative Allocation Fund
