FIRST AMENDMENT TO
ADMINISTRATIVE SERVICES AGREEMENT
This First Amendment ("Amendment") to the Administrative Services Agreement
("Agreement") dated as of March 1, 1999 between ICON Funds (the "Trust") and
Meridian Investment Management Corporation ("Meridian") is effective as of
September 1, 2003.
Meridian and the Trust hereby amend Exhibit B to the Agreement as follows:
I. FEE SCHEDULE
The Funds of the Trust shall pay the Administrator the following fee per year
per Portfolio base, computed on a daily basis and paid on a monthly basis. For
purposes of each daily calculation of this fee, the most recently determined net
asset value of each Portfolio, as determined by a valuation made in accordance
with the Trust's procedure for calculating each Portfolio's net asset value as
described in the Funds' Prospectuses and/or Statements of Additional
Information, shall be used. The fee is payable on the first business day
following the end of each month.
AVERAGE VALUE OF DAILY NET ASSETS ANNUAL RATE
Assets up to One Billion Five Hundred Million Dollars 0.050%
Assets over One Billion Five Hundred Million Dollars 0.045%
All other terms of the Agreement shall remain in full force and effect.
This Amendment has been executed as of the date set forth above by a duly
authorized officer of each party.
ICON FUNDS MERIDIAN INVESTMENT MANAGEMENT
CORPORATION
By: /s/ Xxxxx X. Xxxxx By: /s/ Xxxx X. Xxxxxx
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Name: Xxxxx X. Xxxxx Name: Xxxx Xxxxxx
Title: Vice President & Secretary Title: Vice President & CFO
