Exhibit 8(l)
ADDENDUM NO. 11 TO
AMENDED AND RESTATED
CUSTODIAN AGREEMENT
--------------------
This Addendum, dated as of the ____ day of _______, 199_, is entered
into between PEGASUS FUNDS (the "Trust"), a Massachusetts business trust, and
NBD BANK ("NBD" or the "Custodian"), a state-chartered bank incorporated under
the laws of Michigan.
WHEREAS, the Trust and NBD have entered into an Amended and Restated
Custodian Agreement dated May 16, 1989 and Addenda Nos. 1, 2, 3, 4, 5, 6, 7, 8,
9, and 10 (the "Custodian Agreement"), pursuant to which the Trust appointed NBD
to act as Custodian to the Trust's Money Market Fund, Municipal Money Market
Fund, Michigan Municipal Money Market Fund, Treasury Money Market Fund, Equity
Income Fund, Growth Fund, Mid-Cap Opportunity Fund, Small-Cap Opportunity Fund,
Intrinsic Value Fund, Growth and Value Fund, Equity Index Fund, International
Equity Fund, Intermediate Bond Fund, Bond Fund, Short Bond Fund, Income Fund,
International Bond Fund, High Yield Bond Fund, Municipal Bond Fund, Intermediate
Municipal Bond Fund, Michigan Municipal Bond Fund, U.S. Government Income Fund,
Cash Management Fund, U.S. Government Securities Cash Management Fund, Treasury
Cash Management, Treasury Prime Cash Management Fund, Municipal Cash Management
Fund, Managed Assets Balanced Fund, Managed Assets Conservative Fund and Managed
Assets Growth Fund;
WHEREAS, Article XIV, Paragraph 9 of the Custodian Agreement provides
that in the event the Trust establishes one or more additional portfolios with
respect to which it desires to retain NBD to act as the custodian under the
Custodian Agreement, the Trust shall so notify NBD in writing and if NBD is
willing to render such services it shall notify the Trust in writing, and the
compensation to be paid to NBD shall be that which is agreed to in writing by
the Trust and NBD pursuant to Article XII, Paragraph 7 of the Custodian
Agreement;
WHEREAS, pursuant to Article XIV, Paragraph 9 of the Custodian
Agreement, the Trust has notified NBD that it intends to establish the Short
Municipal Bond and Market Expansion Index Funds and that it desires to retain
NBD to act as the custodian therefor, and NBD has notified the Trust that it is
willing to serve as custodian for such Funds.
NOW THEREFORE, the parties hereto, intending to be legally bound,
hereby agree as follows:
1. Appointment. The Trust hereby appoints NBD to act as Custodian
to the Trust for the Short Municipal Bond and Market
Expansion Index Funds for the period and on the terms set forth in the Custodian
Agreement. NBD hereby accepts such appointment and agrees to render the
services set forth in the Custodian Agreement, for the compensation provided in
Appendix A hereto.
2. Capitalized Terms. From and after the date hereof, the terms
"Fund" and "Series" as used in the Custodian Agreement shall be deemed to
include the Short Municipal Bond and Market Expansion Index Funds. Capitalized
terms used herein and not otherwise defined shall have the meanings ascribed to
them in the Custodian Agreement.
3. Miscellaneous. Except to the extent supplemented hereby, the
Custodian Agreement shall remain unchanged and in full force and effect and is
hereby ratified and confirmed in all respects as supplemented hereby.
IN WITNESS WHEREOF, the undersigned have executed this Addendum as of
the date and year first above written.
PEGASUS FUNDS
By: ________________________
D'Xxx Xxxxx
Treasurer
NBD BANK
By: _________________________
Xxxxxxx X. Xxxxxxx
Vice President
-2-
APPENDIX A
----------
For the services provided pursuant to the Custodian Agreement with
respect to the Short Municipal Bond and Market Expansion Index Funds, the
Custodian will accept the following fees:
Basic Annual Account Charge $ 1,000
Annual Security Fee
First $20,000,000 = .0003
Next $20,000,000 = .00025
Next $20,000,000 = .0002
Next $40,000,000 = .00015
Next $200,000,000 = .000125
Balance over $300,000,000 = .0001
Asset Fee $1.541 per security held at end of month.
Security Transactions:
$13.00 for each Pass-Through Certificate Payment
$35.00 for Option Transactions requiring Escrow Receipts
$20.00 for all other security transactions
Accounting Statements:
Cash Statement - $50 per statement
Inventories - $50 per inventory
In addition to the service fees above, the Trust will reimburse the
Custodian for its out-of-pocket expenses including, but not limited to,
postage, telephone, telex, facsimile, Federal Express and Federal Reserve
wire fees, incurred on behalf of the Trust.
