Supplement to the
Investment Advisory and Administration Agreement
between
Heritage Capital Appreciation Trust
and
Heritage Asset Management, Inc.
This Agreement supplements the Agreement between the Heritage Capital
Appreciation Trust ("Trust") and Heritage Asset Management, Inc. ("Manager")
dated November 22, 1985, as amended and restated on November 19, 1996
("Agreement").
Pursuant to Paragraph 7 of the Agreement, the Trust shall pay the
following fees to the Manager for rendering investment management services.
These fees shall be computed daily and paid monthly at the following annual
rates as percentages of the Trust's average daily net assets:
AVERAGE DAILY NET ASSETS ADVISORY FEES AS A % OF AVERAGE DAILY NET ASSETS
------------------------ ------------------------------------------------
First $1 billion 0.75%
Over $1 billion 0.70%
Attest: Xxxxxxx X. Xxxxxxx Heritage Capital
------------------
Appreciation Trust
Name: Xxxxxxx X. Xxxxxxx By: X.X. Xxxxx
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Title: Administrative Supervisor Title: Principal Executive Officer
Attest: Xxxxxxx X. Xxxxxxx Heritage Asset Management, Inc.
------------------
Name: Xxxxxxx X. Xxxxxxx By: Xxxx Xxxxxxx
------------
Title: Administrative Supervisor Title: Treasurer
Supplement Dated November 30, 2004 and effective September 1, 2004.
