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EX-99.B9
AGENCY AGREEMENT
AGREEMENT dated the ___ day of _________, 1995, by and
between XXXXXX VALUE PLUS GROWTH FUND, a Massachusetts
business trust having its principal place of business at 000
Xxxxx XxXxxxx Xxxxxx, Xxxxxxx, XX 00000 ("Fund"), and
INVESTORS FIDUCIARY TRUST COMPANY, a state chartered trust
company organized and existing under the laws of the State of
Missouri having its principal place of business at 000 Xxxx
00xx Xxxxxx, Xxxxxx Xxxx, Xxxxxxxx 00000 ("IFTC").
WHEREAS, Fund wants to appoint IFTC as Transfer Agent
and Dividend Disbursing Agent, and IFTC wants to accept such
appointment;
NOW, THEREFORE, in consideration of the mutual covenants
herein contained, the parties hereto agree as follows:
1. Documents to be Filed with Appointment.
In connection with the appointment of IFTC as
Transfer Agent and Dividend Disbursing Agent for
Fund, there will be filed with IFTC the following
documents:
A. A certified copy of the resolutions of the Board
of Trustees of Fund appointing IFTC as Transfer
Agent and Dividend Disbursing Agent, approving
the form of this Agreement, and designating
certain persons to give written instructions and
requests on behalf of Fund.
B. A certified copy of the Agreement and Declaration
of Trust of Fund and any amendments thereto.
C. A certified copy of the Bylaws of Fund.
D. Copies of Registration Statements filed with the
Securities and Exchange Commission.
E. Specimens of all forms of outstanding share
certificates as approved by the Board of Trustees
of Fund, with a certificate of the Secretary of
Fund as to such approval.
F. Specimens of the signatures of the officers of
the Fund authorized to sign share certificates
and individuals authorized to sign written
instructions and requests on behalf of the Fund.
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G. An opinion of counsel for Fund:
(1) With respect to Fund's organization and
existence under the laws of The Commonwealth
of Massachusetts.
(2) With respect to the status of all shares of
Fund covered by this appointment under the
Securities Act of 1933, and any other
applicable federal or state statute.
(3) To the effect that all issued shares are, and
all unissued shares will be when issued,
validly issued, fully paid and
non-assessable.
2. Certain Representations and Warranties of IFTC. IFTC
represents and warrants to Fund that:
A. It is a trust company duly organized and existing
and in good standing under the laws of the State
of Missouri.
B. It is duly qualified to carry on its business in
the State of Missouri.
C. It is empowered under applicable laws and by its
Articles of Incorporation and Bylaws to enter
into and perform the services contemplated in
this Agreement.
D. All requisite corporate proceedings have been
taken to authorize it to enter into and perform
this Agreement.
E. It has and will continue to have and maintain the
necessary facilities, equipment and personnel to
perform its duties and obligations under this
Agreement.
F. It is, and will continue to be, registered as a
transfer agent under the Securities Exchange Act
of 1934.
3. Certain Representations and Warranties of Fund. Fund
represents and warrants to IFTC that:
A. It is a business trust duly organized and
existing and in good standing under the laws of
The Commonwealth of Massachusetts.
B. It is an investment company registered under the
Investment Company Act of 1940.
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C. A registration statement under the Securities Act
of 1933 has been filed and will be effective with
respect to all shares of Fund being offered for
sale at any time and from time to time.
D. All requisite steps have been or will be taken to
register Fund's shares for sale in all applicable
states, including the District of Columbia.
E. Fund and its Trustees are empowered under
applicable laws and by the Fund's Agreement and
Declaration of Trust and Bylaws to enter into and
perform this Agreement.
4. Scope of Appointment.
A. Subject to the conditions set forth in this
Agreement, Fund hereby employs and appoints IFTC
as Transfer Agent and Dividend Disbursing Agent
effective the date hereof.
B. IFTC hereby accepts such employment and
appointment and agrees that it will act as Fund's
Transfer Agent and Dividend Disbursing Agent.
IFTC agrees that it will also act as agent in
connection with Fund's periodic withdrawal
payment accounts and other open-account or
similar plans for shareholders, if any.
C. IFTC agrees to provide the necessary facilities,
equipment and personnel to perform its duties and
obligations hereunder in accordance with industry
practice.
D. Fund agrees to use all reasonable efforts to
deliver to IFTC in Kansas City, Missouri, as soon
as they are available, all its shareholder
account records.
E. Subject to the provisions of Sections 20 and 21
hereof, IFTC agrees that it will perform all the
usual and ordinary services of Transfer Agent and
Dividend Disbursing Agent and as agent for the
various shareholder accounts, including, without
limitation, the following: issuing, transferring
and cancelling share certificates, maintaining
all shareholder accounts, preparing shareholder
meeting lists, mailing proxies, receiving and
tabulating proxies, mailing shareholder reports
and prospectuses, withholding federal income
taxes, preparing and mailing checks for
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disbursement of income and capital gains
dividends, preparing and filing all required U.S.
Treasury Department information returns for all
shareholders, preparing and mailing confirmation
forms to shareholders and dealers with respect to
all purchases and liquidations of Fund shares and
other transactions in shareholder accounts for
which confirmations are required, recording
reinvestments of dividends and distributions in
Fund shares, recording redemptions of Fund shares
and preparing and mailing checks for payments
upon redemption and for disbursements to
systematic withdrawal plan shareholders.
5. Compensation and Expenses.
A. In consideration for the services provided
hereunder by IFTC as Transfer Agent and Dividend
Disbursing Agent, Fund will pay to IFTC from time
to time compensation as agreed upon for all
services rendered as Agent, and also, all its
reasonable out-of-pocket expenses and other
disbursements incurred in connection with the
agency. Such compensation will be set forth in a
separate schedule to be agreed to by Fund and
IFTC. The initial agreement regarding
compensation is attached as Exhibit A.
B. Fund agrees to promptly reimburse IFTC for all
reasonable out-of-pocket expenses or advances
incurred by IFTC in connection with the
performance of services under this Agreement
including, but not limited to, postage (and first
class mail insurance in connection with mailing
share certificates), envelopes, check forms,
continuous forms, forms for reports and
statements, stationery, and other similar items,
telephone and telegraph charges incurred in
answering inquiries from dealers or shareholders,
microfilm used each year to record the previous
year's transactions in shareholder accounts and
computer tapes used for permanent storage of
records and cost of insertion of materials in
mailing envelopes by outside firms. IFTC may, at
its option, arrange to have various service
providers submit invoices directly to the Fund
for payment of out-of-pocket expenses reimbursable
hereunder.
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6. Efficient Operation of IFTC System.
A. In connection with the performance of its
services under this Agreement, IFTC is
responsible for the accurate and efficient
functioning of its system at all times,
including:
(1) The accuracy of the entries in IFTC's records
reflecting purchase and redemption orders and
other instructions received by IFTC from
dealers, shareholders, Fund or its principal
underwriter.
(2) The timely availability and the accuracy of
shareholder lists, shareholder account
verifications, confirmations and other
shareholder account information to be
produced from IFTC's records or data.
(3) The accurate and timely issuance of dividend
and distribution checks in accordance with
instructions received from Fund.
(4) The accuracy of redemption transactions and
payments in accordance with redemption
instructions received from dealers,
shareholders or Fund or other authorized
persons.
(5) The deposit daily in Fund's appropriate
special bank account of all checks and
payments received from dealers or
shareholders for investment in shares.
(6) The requiring of proper forms of
instructions, signatures and signature
guarantees and any necessary documents
supporting the rightfulness of transfers,
redemptions and other shareholder account
transactions, all in conformance with IFTC's
present procedures with such changes as may
be deemed reasonably appropriate by IFTC or
as may be reasonably approved by or on behalf
of Fund.
(7) The maintenance of a current duplicate set of
Fund's essential or required records, as
agreed upon from time to time by Fund and
IFTC, at a secure distant location, in form
available and usable forthwith in the event
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of any breakdown or disaster disrupting its
main operation.
7. Indemnification.
A. Fund shall indemnify and hold IFTC harmless from
and against any and all claims, actions, suits,
losses, damages, costs, charges, counsel fees,
payments, expenses and liabilities arising out of
or attributable to any action or omission by IFTC
pursuant to this Agreement or in connection with
the agency relationship created by this
Agreement, provided that IFTC has acted in good
faith, without negligence and without willful
misconduct.
B. IFTC shall indemnify and hold Fund harmless from
and against any and all claims, actions, suits,
losses, damages, costs, charges, counsel fees,
payments, expenses and liabilities arising out of
or attributable to any action or omission by IFTC
pursuant to this Agreement or in connection with
the agency relationship created by this
Agreement, provided that IFTC has not acted in
good faith, without negligence and without
willful misconduct.
C. In order that the indemnification provisions
contained in this Section 7 shall apply, upon the
assertion of a claim for which either party (the
"Indemnifying Party") may be required to provide
indemnification hereunder, the party seeking
indemnification (the "Indemnitee") shall promptly
notify the Indemnifying Party of such assertion,
and shall keep such party advised with respect to
all developments concerning such claim. The
Indemnifying Party shall be entitled to assume
control of the defense and the negotiations, if
any, regarding settlement of the claim. If the
Indemnifying Party assumes control, the
Indemnitee shall have the option to participate
in the defense and negotiations of such claim at
its own expense. The Indemnitee shall in no
event confess, admit to, compromise, or settle
any claim for which the Indemnifying Party may be
required to indemnify it except with the prior
written consent of the Indemnifying Party, which
shall not be unreasonably withheld.
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8. Certain Covenants of IFTC and Fund.
A. All requisite steps will be taken by Fund from
time to time when and as necessary to register
the Fund's shares for sale in all states in which
Fund's shares shall at the time be offered for
sale and require registration. If at any time
Fund receives notice of any stop order or other
proceeding in any such state affecting such
registration or the sale of Fund's shares, or of
any stop order or other proceeding under the
Federal securities laws affecting the sale of
Fund's shares, Fund will give prompt notice
thereof to IFTC.
B. IFTC hereby agrees to establish and maintain
facilities and procedures reasonably acceptable
to Fund for safekeeping of share certificates,
check forms, and facsimile signature imprinting
devices, if any; and for the preparation or use,
and for keeping account of, such certificates,
forms and devices. Further, IFTC agrees to carry
insurance, as specified in Exhibit B hereto, with
insurers reasonably acceptable to Fund and in
minimum amounts that are reasonably acceptable to
Fund, which will not be changed without the
consent of Fund, which consent shall not be
unreasonably withheld, and which will be expanded
in coverage or increased in amounts from time to
time if and when reasonably requested by Fund.
If IFTC determines that it is unable to obtain
any such insurance upon commercially reasonable
terms, it shall promptly so advise Fund in
writing. In such event, Fund shall have the
right to terminate this Agreement upon 30 days
notice.
C. To the extent required by Section 31 of the
Investment Company Act of 1940 and Rules
thereunder, IFTC agrees that all records
maintained by IFTC relating to the services to be
performed by IFTC under this Agreement are the
property of Fund and will be preserved and will
be surrendered promptly to Fund on request.
D. IFTC agrees to furnish Fund semi-annual reports
of its financial condition, consisting of a
balance sheet, earnings statement and any other
reasonably available financial information
reasonably requested by Fund. The annual
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financial statements will be certified by IFTC's
certified public accountants.
E. IFTC represents and agrees that it will use all
reasonable efforts to keep current on the trends
of the investment company industry relating to
shareholder services and will use all reasonable
efforts to continue to modernize and improve its
system without additional cost to Fund.
F. IFTC will permit Fund and its authorized
representatives to make periodic inspections of
its operations at reasonable times during
business hours.
G. If IFTC is prevented from complying, either
totally or in part, with any of the terms or
provisions of this Agreement, by reason of fire,
flood, storm, strike, lockout or other labor
trouble, riot, war, rebellion, accidents, acts of
God, equipment, utility or transmission failure
or damage, and/or any other cause or casualty
beyond the reasonable control of IFTC, whether
similar to the foregoing matters or not, then
upon written notice to Fund, the requirements of
this Agreement that are affected by such
disability, to the extent so affected, shall be
suspended during the period of such disability;
provided, however, that IFTC shall make
reasonable effort to remove such disability as
soon as possible. During such period, Fund may
seek alternate sources of service without
liability hereunder; and IFTC will use all
reasonable efforts to assist Fund to obtain
alternate sources of service. IFTC shall have no
liability to Fund for nonperformance because of
the reasons set forth in this Section 8.G; but if
a disability that, in Fund's reasonable belief,
materially affects IFTC's ability to perform its
obligations under this Agreement continues for a
period of 30 days, then Fund shall have the right
to terminate this Agreement upon 10 days written
notice to IFTC.
9. Adjustment.
In case of any recapitalization, readjustment or
other change in the structure of Fund requiring a
change in the form of share certificates, IFTC will
issue or register certificates in the new form in
exchange for, or in transfer of, the outstanding
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certificates in the old form, upon receiving the
following:
A. Written instructions from an officer of Fund.
B. Certified copy of any amendment to the Agreement
and Declaration of Trust or other document
effecting the change.
C. Certified copy of any order or consent of each
governmental or regulatory authority required by
law for the issuance of the shares in the new
form, and an opinion of counsel that no order or
consent of any other government or regulatory
authority is required.
D. Specimens of the new certificates in the form
approved by the Board of Trustees of Fund, with a
certificate of the Secretary of Fund as to such
approval.
E. Opinion of counsel for Fund:
(1) With respect to the status of the shares of
Fund in the new form under the Securities Act
of 1933, and any other applicable federal or
state laws.
(2) To the effect that the issued shares in the
new form are, and all unissued shares will be
when issued, validly issued, fully paid and
non-assessable.
10. Share Certificates.
Fund will furnish IFTC with a sufficient supply of
blank share certificates and from time to time will
renew such supply upon the request of IFTC. Such
certificates will be signed manually or by facsimile
signatures of the officers of Fund authorized by law
and Fund's Bylaws to sign share certificates and, if
required, will bear the trust seal or facsimile
thereof.
11. Death, Resignation or Removal of Signing Officer.
Fund will file promptly with IFTC written notice of
any change in the officers authorized to sign share
certificates, written instructions or requests,
together with two signature cards bearing the
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specimen signature of each newly authorized officer,
all as certified by an appropriate officer of the
Fund. In case any officer of Fund who will have
signed manually or whose facsimile signature will
have been affixed to blank share certificates will
die, resign, or be removed prior to the issuance of
such certificates, IFTC may issue or register such
share certificates as the share certificates of Fund
notwithstanding such death, resignation, or removal,
until specifically directed to the contrary by Fund
in writing. In the absence of such direction, Fund
will file promptly with IFTC such approval, adoption,
or ratification as may be required by law.
12. Future Amendments of Agreement and Declaration of
Trust and Bylaws.
Fund will promptly file with IFTC copies of all
material amendments to its Agreement and Declaration
of Trust and Bylaws and Registration Statement made
after the date of this Agreement.
13. Instructions, Opinion of Counsel and Signatures.
At any time IFTC may apply to any officer of Fund for
instructions, and may consult with legal counsel for
Fund at the expense of Fund, or with its own legal
counsel at its own expense, with respect to any
matter arising in connection with the agency; and it
will not be liable for any action taken or omitted by
it in good faith in reliance upon such instructions
or upon the opinion of such counsel. IFTC is
authorized to act on the orders, directions or
instructions of such persons as the Board of Trustees
of Fund shall from time to time designate by
resolution. IFTC will be protected in acting upon
any paper or document, including any orders,
directions or instructions, reasonably believed by it
to be genuine and to have been signed by the proper
person or persons; and IFTC will not be held to have
notice of any change of authority of any person so
authorized by Fund until receipt of written notice
thereof from Fund. IFTC will also be protected in
recognizing share certificates that it reasonably
believes to bear the proper manual or facsimile
signatures of the officers of Fund, and the proper
countersignature of any former Transfer Agent or
Registrar, or of a Co-Transfer Agent or Xx-Xxxxxxxxx.
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00. Papers Subject to Approval of Counsel.
The acceptance by IFTC of its appointment as Transfer
Agent and Dividend Disbursing Agent, and all
documents filed in connection with such appointment
and thereafter in connection with the agencies, will
be subject to the approval of legal counsel for IFTC,
which approval will not be unreasonably withheld.
15. Certification of Documents.
The required copy of the Agreement and Declaration of
Trust of Fund and copies of all amendments thereto
will be certified by the appropriate official of The
Commonwealth of Massachusetts; and if such Agreement
and Declaration of Trust and amendments are required
by law to be also filed with a county, city or other
officer or official body, a certificate of such
filing will appear on the certified copy submitted to
IFTC. A copy of the order or consent of each
governmental or regulatory authority required by law
for the issuance of Fund shares will be certified by
the Secretary or Clerk of such governmental or
regulatory authority, under proper seal of such
authority. The copy of the Bylaws and copies of all
amendments thereto and copies of resolutions of the
Board of Trustees of Fund will be certified by the
Secretary or an Assistant Secretary of Fund.
16. Records.
IFTC will maintain customary records in connection
with its agency, and particularly will maintain those
records required to be maintained pursuant to
sub-paragraph (2)(iv) of paragraph (b) of Rule 31a-1
under the Investment Company Act of 1940, if any.
17. Disposition of Books, Records and Cancelled
Certificates.
IFTC will send periodically to Fund, or to where
designated by the Secretary or an Assistant Secretary
of Fund, all books, documents, and all records no
longer deemed needed for current purposes and share
certificates which have been cancelled in transfer or
in exchange, upon the understanding that such books,
documents, records, and share certificates will not
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be destroyed by Fund without the consent of IFTC
(which consent will not be unreasonably withheld),
but will be safely stored for possible future
reference.
18. Provisions Relating to IFTC as Transfer Agent.
A. IFTC will make original issues of share
certificates upon written request of an officer
of Fund and upon being furnished with a certified
copy of a resolution of the Board of Trustees
authorizing such original issue, an opinion of
counsel as outlined in Section 1.G or 9.E of this
Agreement, the certificates required by Section
10 of this Agreement and any other documents
required by Section 1 or 9 of this Agreement.
B. Before making any original issue of certificates,
Fund will furnish IFTC with sufficient funds to
pay any taxes required on the original issue of
the shares. Fund will furnish IFTC such evidence
as may be required by IFTC to show the actual
value of the shares. If no taxes are payable,
IFTC will upon request be furnished with an
opinion of outside counsel to that effect.
C. Shares will be transferred and new certificates
issued in transfer, or shares accepted for
redemption and funds remitted therefor, upon
surrender of the old certificates in form deemed
by IFTC properly endorsed for transfer or
redemption accompanied by such documents as IFTC
may deem necessary to evidence the authority of
the person making the transfer or redemption, and
bearing satisfactory evidence of the payment of
any applicable share transfer taxes. IFTC
reserves the right to refuse to transfer or
redeem shares until it is satisfied that the
endorsement or signature on the certificate or
any other document is valid and genuine, and for
that purpose it may require a guarantee of
signature by such persons as may from time to
time be specified in the prospectus related to
such shares or otherwise authorized by Fund.
IFTC also reserves the right to refuse to
transfer or redeem shares until it is satisfied
that the requested transfer or redemption is
legally authorized, and it will incur no
liability for the refusal in good faith to make
transfers or redemptions which, in its judgment,
are improper, unauthorized, or otherwise not
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rightful. IFTC may, in effecting transfers or
redemptions, rely upon Simplification Acts or
other statutes which protect it and Fund in not
requiring complete fiduciary documentation.
D. When mail is used for delivery of share certificates,
IFTC will forward share certificates in "nonnegotiable"
form as provided by Fund by first class mail, all such
mail deliveries to be covered while in transit to the
addressee by insurance arranged for by IFTC.
E. IFTC will issue and mail subscription warrants
and certificates provided by Fund and
representing share dividends, exchanges or
split-ups, or act as Conversion Agent upon
receiving written instructions from any officer
of Fund and such other documents as IFTC deems
necessary.
F. IFTC will issue, transfer, and split-up
certificates upon receiving written instructions
from an officer of Fund and such other documents
as IFTC may deem necessary.
G. IFTC may issue new certificates in place of
certificates represented to have been lost,
destroyed, stolen or otherwise wrongfully taken,
upon receiving indemnity satisfactory to IFTC,
and may issue new certificates in exchange for,
and upon surrender of, mutilated certificates.
Any such issuance shall be in accordance with the
provisions of law governing such matter and any
procedures adopted by the Board of Trustees of
the Fund of which IFTC has notice.
H. IFTC will supply a shareholder's list to Fund
properly certified by an officer of IFTC for any
shareholder meeting upon receiving a request from
an officer of Fund. It will also supply lists at
such other times as may be reasonably requested
by an officer of Fund.
I. Upon receipt of written instructions of an
officer of Fund, IFTC will address and mail
notices to shareholders.
J. In case of any request or demand for the
inspection of the share books of Fund or any
other books of Fund in the possession of IFTC,
IFTC will endeavor to notify Fund and to secure
instructions as to permitting or refusing such
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inspection. IFTC reserves the right, however, to
exhibit the share books or other books to any
person in case it is advised by its counsel that
it may be held responsible for the failure to
exhibit the share books or other books to such
person.
19. Provisions Relating to Dividend Disbursing Agency.
A. IFTC will, at the expense of Fund, provide a
special form of check containing the imprint of
any device or other matter desired by Fund. Said
checks must, however, be of a form and size
convenient for use by IFTC.
B. If Fund wants to include additional printed
matter, financial statements, etc., with the
dividend checks, the same will be furnished to
IFTC within a reasonable time prior to the date
of mailing of the dividend checks, at the expense
of Fund.
C. If Fund wants its distributions mailed in any
special form of envelopes, sufficient supply of
the same will be furnished to IFTC but the size
and form of said envelopes will be subject to the
approval of IFTC. If stamped envelopes are used,
they must be furnished by Fund; or, if postage
stamps are to be affixed to the envelopes, the
stamps or the cash necessary for such stamps must
be furnished by Fund.
D. IFTC will maintain one or more deposit accounts
as Agent for Fund, into which the funds for
payment of dividends, distributions, redemptions
or other disbursements provided for hereunder
will be deposited, and against which checks will
be drawn.
20. Termination of Agreement.
A. This Agreement may be terminated by either party
upon sixty (60) days prior written notice to the
other party.
B. Fund, in addition to any other rights and
remedies, shall have the right to terminate this
Agreement forthwith upon the occurrence at any
time of any of the following events:
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(1) Any interruption or cessation of operations
by IFTC or its assigns which materially
interferes with the business operation of
Fund.
(2) The bankruptcy of IFTC or its assigns or the
appointment of a receiver for IFTC or its
assigns.
(3) Any merger, consolidation or sale of
substantially all the assets of IFTC or its
assigns.
(4) The acquisition of a controlling interest in
IFTC or its assigns, by any broker, dealer,
investment adviser or investment company
except as may presently exist.
(5) Failure by IFTC or its assigns to perform its
duties in accordance with this Agreement,
which failure materially adversely affects
the business operations of Fund and which
failure continues for thirty (30) days after
written notice from Fund.
(6) The registration of IFTC or its assigns as a
transfer agent under the Securities Exchange
Act of 1934 is revoked, terminated or
suspended for any reason.
C. In the event of termination, Fund will promptly
pay IFTC all amounts due to IFTC hereunder. Upon
termination of this Agreement, IFTC shall deliver
all shareholder and account records pertaining to
Fund either to Fund or as directed in writing by
Fund.
21. Assignment.
A. Except for the assignment of responsibilities
pursuant to the Services Agreement ("Services
Agreement") between IFTC and Xxxxxx Service
Company ("KSVC"), which Fund has approved,
neither this Agreement nor any rights or
obligations hereunder may be assigned by IFTC
without the written consent of Fund; provided,
however, no assignment will relieve IFTC of any
of its obligations hereunder.
B. This Agreement including, without limitation, the
provisions of Section 7 will inure to the benefit
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of and be binding upon the parties and their
respective successors and assigns including KSVC
pursuant to the aforesaid Services Agreement.
C. KSVC is authorized by Fund to use the system
services of DST Systems, Inc.
22. Confidentiality.
A. Except as provided in the last sentence of
Section 18.J hereof, or as otherwise required by
law, IFTC will keep confidential all records of
and information in its possession relating to
Fund or its shareholders or shareholder accounts
and will not disclose the same to any person
except at the request or with the consent of
Fund.
B. Except as otherwise required by law, Fund will
keep confidential all financial statements and
other financial records (other than statements
and records relating solely to Fund's business
dealings with IFTC) and all manuals, systems and
other technical information and data, not
publicly disclosed, relating to IFTC's operations
and programs furnished to it by IFTC pursuant to
this Agreement and will not disclose the same to
any person except at the request or with the
consent of IFTC. Notwithstanding anything to the
contrary in this Section 22.B, if an attempt is
made pursuant to subpoena or other legal process
to require Fund to disclose or produce any of the
aforementioned manuals, systems or other
technical information and data, Fund shall give
IFTC prompt notice thereof prior to disclosure or
production so that IFTC may, at its expense,
resist such attempt.
23. Survival of Representations and Warranties.
All representations and warranties by either party
herein contained will survive the execution and
delivery of this Agreement.
24. Miscellaneous.
A. This Agreement is executed and delivered in the
State of Illinois and shall be governed by the
laws of said state (except as to Section 24.G
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hereof which shall be governed by the laws of The
Commonwealth of Massachusetts).
B. No provisions of this Agreement may be amended or
modified in any manner except by a written
agreement properly authorized and executed by
both parties hereto.
C. The captions in this Agreement are included for
convenience of reference only, and in no way
define or limit any of the provisions hereof or
otherwise affect their construction or effect.
D. This Agreement shall become effective as of the
date hereof.
E. This Agreement may be executed simultaneously in
two or more counterparts, each of which shall be
deemed an original but all of which together
shall constitute one and the same instrument.
F. If any part, term or provision of this Agreement
is held by the courts to be illegal, in conflict
with any law or otherwise invalid, the remaining
portion or portions shall be considered severable
and not be affected, and the rights and
obligations of the parties shall be construed and
enforced as if the Agreement did not contain the
particular part, term or provision held to be
illegal or invalid.
G. All parties hereto are expressly put on notice of
Fund's Agreement and Declaration of Trust which
is on file with the Secretary of The Commonwealth
of Massachusetts, and the limitation of
shareholder and trustee liability contained
therein. This Agreement has been executed by and
on behalf of Fund by its representatives as such
representatives and not individually, and the
obligations of Fund hereunder are not binding
upon any of the Trustees, officers or
shareholders of the Fund individually but are
binding upon only the assets and property of
Fund. With respect to any claim by IFTC for
recovery of that portion of the compensation and
expenses (or any other liability of Fund arising
hereunder) allocated to a particular Portfolio,
whether in accordance with the express terms
hereof or otherwise, IFTC shall have recourse
solely against the assets of that Portfolio to
satisfy such claim and shall have no recourse
17
18
against the assets of any other Portfolio for
such purpose.
H. This Agreement, together with the Fee Schedule,
is the entire contract between the parties
relating to the subject matter hereof and
supersedes all prior agreements between the
parties.
IN WITNESS WHEREOF, the parties have caused this Agreement to
be executed by their respective duly authorized officer as of
the day and year first set forth above.
XXXXXX VALUE PLUS GROWTH FUND
By_____________________________
Title:_________________________
ATTEST:
______________________________
Title:________________________
INVESTORS FIDUCIARY TRUST COMPANY
By______________________________
Title:___________________________
ATTEST:
______________________________
Title:________________________
18
19
EXHIBIT A
FEE SCHEDULE (MULTIPLE CLASSES OF SHARES)
TRANSFER AGENCY FUNCTION FEE PAYABLE BY FUND
CLASS A, C AND I CLASS B
1. Annual open shareholder
account fee (per year per
account).
a. Non-daily dividend series. $6.00 $6.00
b. Daily dividend series. $8.00 $8.00
2. Annual closed shareholder account
fee (per year per account). $6.00 $6.00
3. Contingent deferred sales charge Not
account fee (per year per open Applicable $2.25
account).
4. Establishment of new shareholder
account (per new account). $4.00 $4.00
5. Payment of dividend (per dividend
per account). $ .40 $ .40
6. Automated transaction (per
transaction).** $ .50 $ .50
7. Non-monetary transactions fee (per
year per open account). $2.00 $2.00
8. All other shareholder inquiry,
correspondence and research
transactions (per transaction). $1.25 $1.25
The out-of-pocket expenses of IFTC will be reimbursed by Fund
in accordance with the provisions of Section 5 of the Agency
Agreement. All fees will be subject to offset by earnings
allowances under the Custody Agreement between Fund and IFTC.
The attached Transfer Agency Fee Schedule Supplement is a
part of this Exhibit A.
----------------------
* The new shareholder account fee is not applicable to
Class A Share accounts established in connection with a
conversion from Class B Shares.
** Automated transaction includes, without limitation, money
market series purchases and redemptions, ACH purchases,
systematic exchanges and conversions from Class B Shares
to Class A Shares.
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TRANSFER AGENCY FEE SCHEDULE SUPPLEMENT
For purposes of the following limitation, "Class Expenses"
are expenses identified as attributable to a particular class
of the Fund and charged directly to the class. Class
Expenses are limited to the following: registration fees,
directors' or trustees' fees, expenses of periodic meetings
of directors, trustees or shareholders, transfer agency fees,
legal and accounting fees (other than fees for income tax
return preparation or income tax advice), and costs of
shareholder communications required by law (e.g., the
preparation and mailing of prospectuses and proxy
statements). Class Expenses specifically do not include Rule
12b-1 fees and administrative service fees. Transfer agency
fees and expenses will be limited for any class of the Fund
to the extent necessary to ensure that the Class Expenses
(expressed as a percentage of average daily net assets)
allocated to any class of the Fund will differ from the Class
Expenses allocated to any other class of the Fund in any
fiscal year by less than 50 basis points (.50%) (adjusted as
necessary for classes in effect for a partial year).
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EXHIBIT B
IFTC INSURANCE COVERAGE
DESCRIPTION OF POLICY:
Fidelity Bond
Covers losses caused by dishonesty of employees,
physical loss of securities on or outside of premises
while in possession of authorized person, loss caused
by forgery or alteration of checks or similar
instruments.
Errors and Omissions Insurance
Covers claims made for actual or alleged negligent
acts, errors or omissions committed in the
performance of transfer agency services.
Mail Insurance (applies to all full service operations)
Provides indemnity for the following types of
securities lost in the mails:
Non-negotiable securities mailed to domestic
locations via registered mail.
Non-negotiable securities mailed to domestic
locations via first-class or certified mail.
Non-negotiable securities mailed to foreign
locations via registered mail.
Negotiable securities mailed to all locations via
registered mail.
