EXHIBIT 17(d)
AMENDED AND RESTATED PRICING AND BOOKKEEPING AGREEMENT
This Amended and Restated Pricing and Bookkeeping Agreement is dated
this 1st day of May, 2003, between Liberty Variable Investment Trust (formerly
Keyport Variable Investment Trust) (the "Trust"), and Colonial Management
Associates, Inc. ("Colonial"), a Massachusetts corporation.
WHEREAS, the Trust and Colonial previously entered into a Pricing and
Bookkeeping Agreement dated June 7, 1993, as amended on May 2, 1994, May 1,
1995, August 15, 1997 and July 1, 2001; and
WHEREAS, the parties wish to amend Appendix I to amend and restate the
Agreement to incorporate previous amendments and to update Appendix I.
NOW THEREFORE, in consideration of the mutual covenants and agreements
of the parties hereto as set forth, the parties covenant and agree as follows:
1. Appointment. The Trust may offer an unlimited number of series
("Funds"), each of which may have multiple classes of shares ("Shares"). This
Agreement will apply to each Fund on the Effective Date set forth in Appendix I
as amended from time to time.
2. Services. Colonial shall (i) determine and timely communicate to
persons designated by the Trust the Fund's net asset values and offering prices
per Share; and (ii) maintain and preserve in a secure manner the accounting
records of the Fund. All records shall be the property of the Fund. Colonial
will provide disaster planning to minimize possible service interruption.
3. Audit, Use and Inspection. Colonial shall make available on its
premises during regular business hours all records of a Fund for reasonable
audit, use and inspection by the Trust, its agents and any regulatory agency
having authority over the Fund.
4. Compensation. The Trust will pay Colonial for each Fund (except for
Columbia High Yield Fund, VS, Columbia Real Estate Equity Fund, VS and Liberty
Equity Fund, VS) a monthly fee consisting of a Flat Fee plus an Asset-Based Fee,
as follows:
(a) "Flat Fee." For each Fund that is a stand-alone fund
or a master fund in a master/feeder structure, as
identified as such on Schedule A, an annual fee of
$10,000, paid monthly. For each Fund that is a feeder
fund in a master/feeder structure, as identified as
such on Schedule A, an annual fee of $5,000, paid
monthly; plus
(b) "Asset-Based Fee." For each Fund that is a
stand-alone fund or a feeder fund in a master/feeder
structure, as identified as such on Schedule A, that
has average net assets of more than $50 million in
any particular month, a monthly fee equal to the
average net assets of the Fund for that month
multiplied by the Asset-Based Fee Rate. The
"Asset-Based Rate" shall be calculated as follows:
[(number of stand-alone funds and master funds on
Schedule A x $105,000) + (number of feeder funds on
Schedule A x $12,000) - (annual flat fees payable by
each fund on Schedule A)] / (average monthly net
assets of all stand-alone funds and feeder funds on
Schedule A with average monthly net assets of more
than $50 million in that month)
[Note: certain of the funds listed on Schedule A are not party
to the Agreement but are listed for the purpose of calculating
the Asset-Based Fee Rate.] The Fund also shall reimburse
Colonial for any and all out-of-pocket expenses and charges,
including fees payable to third parties for pricing the Fund's
portfolio securities, in performing services under this
Agreement.
[For Columbia High Yield Fund, VS, Columbia Real Estate Equity Fund, VS
and Liberty Equity Fund, VS, the fee shall be as follows:__]
5. Compliance. Colonial shall comply with applicable provisions of the
prospectus and statement of additional information of the Trust and applicable
laws and rules in the provision of services under this Agreement.
6. Limitation of Liability. In the absence of willful misfeasance, bad
faith or gross negligence on the part of Colonial, or reckless disregard of its
obligations and duties hereunder, Colonial shall not be subject to any liability
to the Trust or Fund, to any shareholder of the Trust or the Fund or to any
other person, firm or organization, for any act or omission in the course of, or
connected with, rendering services hereunder.
7. Amendments. The Trust shall submit to Colonial a reasonable time in
advance of filing with the Securities and Exchange Commission copies of any
changes in its Registration Statement. If a change in documents or procedures
materially increases the cost to Colonial of performing its obligations,
Colonial shall be entitled to receive reasonable additional compensation.
8. Duration and Termination, etc. This Agreement may be changed only by
writing executed by each party. This Agreement: (a) shall continue in effect
until two years from the date of its execution, and thereafter, from year to
year so long as approved annually by vote of a majority of the Trustees who are
not affiliated with Colonial; (b) may be terminated at any time without penalty
by sixty days' written notice to either party; and (c) may be terminated at any
time for cause by either party if such cause remains unremedied for a reasonable
period not to exceed ninety days after receipt of written specification of such
cause. Paragraph 6 of this Agreement shall survive termination. If the Trust
designates a successor to any of Colonial's obligations, Colonial shall, at the
expense and direction of the Trust, transfer to the successor all trust records
maintained by Colonial.
9. Miscellaneous. This Agreement shall be governed by the laws of The
Commonwealth of Massachusetts.
10. Use of Affiliated Companies and Subcontractors. In connection with
the services to be provided by Colonial under this Agreement, Colonial may, to
the extent it deems appropriate, and subject to compliance with the requirements
of applicable laws and regulations and upon receipt of approval of
the Trustees, make use of (i) its affiliated companies and their directors,
trustees, officers, and employees and (ii) subcontractors selected by Colonial,
provided that Colonial shall supervise and remain fully responsible for the
services of all such third parties in accordance with and to the extent provided
by this Agreement. Except as otherwise provided in paragraph herein, all costs
and expenses associated with services provided by any such third parties shall
be borne by Colonial or such parties.
IN WITNESS WHEREOF, the parties have duly executed this Agreement as of
the day and year first above.
LIBERTY VARIABLE INVESTMENT TRUST
By:
Secretary
COLONIAL MANAGEMENT ASSOCIATES, INC.
By:
Chief Operating Officer
A copy of the document establishing the Trust is filed with the Secretary of The
Commonwealth of Massachusetts. This Agreement is executed by officers not as
individuals and is not binding upon any of the Trustees, officers or
shareholders of the Trust individually but only upon the assets of the Fund.
Appendix I
EFFECTIVE DATE
--------------
Columbia International Fund, VS
Colonial Small Cap Value Fund, VS
Colonial Strategic Income Fund, VS
Liberty Growth & Income Fund, VS
Liberty All-Star Equity Fund, VS
Liberty S&P 500 Index Fund, VS
Liberty Select Value Fund, VS
Newport Tiger Fund, VS
Columbia High Yield Fund, VS April __, 2003
Liberty Equity Fund, VS April __, 2003
Columbia Real Estate Equity Fund, VS April __, 2003
SCHEDULE A
LIBERTY FUNDS TRUST I
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Liberty High Yield Securities Fund Fund
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Liberty Strategic Income Fund Fund
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Liberty Tax-Managed Growth Fund Fund
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Liberty Tax-Managed Growth Fund II Fund
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Liberty Tax-Managed Value Fund Fund
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Liberty Tax-Managed Aggressive Growth Fund Fund
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LIBERTY FUNDS TRUST II
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Liberty Newport Japan Opportunities Fund Fund
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Liberty Newport Greater China Fund Fund
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Liberty Money Market Fund Fund
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LIBERTY FUNDS TRUST III
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Liberty Select Value Fund Fund
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The Liberty Fund Fund
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Liberty Newport Global Equity Fund Fund
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Liberty Federal Securities Fund Fund
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Liberty Contrarian Income Fund Fund
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LIBERTY FUNDS TRUST IV
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Liberty Tax-Exempt Fund Fund
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Liberty Tax-Exempt Insured Fund Fund
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Liberty Utilities Fund Fund
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Liberty Municipal Money Market Fund Fund
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LIBERTY FUNDS TRUST V
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Liberty California Tax-Exempt Fund Fund
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Liberty Connecticut Tax-Exempt Fund Fund
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Liberty Massachusetts Tax-Exempt Fund Fund
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Liberty New York Tax-Exempt Fund Fund
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Liberty Ohio Tax-Exempt Fund Fund
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LIBERTY FUNDS TRUST VI
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Liberty Small Cap Value Fund Fund
---------------------------------------------------------------------------------------------------------------------
Liberty Growth & Income Fund Fund
---------------------------------------------------------------------------------------------------------------------
Liberty Newport Asia Pacific Fund Fund
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LIBERTY FUNDS TRUST VII
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Liberty Newport Tiger Fund Fund
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Liberty Newport Europe Fund Fund
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LIBERTY-XXXXX XXX FUNDS MUNICIPAL TRUST
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Liberty Managed Municipals Fund Fund
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Liberty High Yield Municipal Fund Fund
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LIBERTY-XXXXX XXX FUNDS INVESTMENT TRUST
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Liberty Global Thematic Equity Fund Fund
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Liberty European Thematic Equity Fund Fund
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Liberty Growth Stock Fund Fund
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Liberty Young Investor Fund Fund
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LIBERTY-XXXXX XXX FUNDS TRUST
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Xxxxx Xxx Institutional Client High Yield Fund Fund
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LIBERTY-XXXXX XXX ADVISOR TRUST
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LIBERTY-XXXXX XXX FUNDS INCOME TRUST
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Liberty Income Fund Fund
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Liberty Intermediate Bond Fund Fund
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Liberty Floating Rate Fund Feeder
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Liberty-Xxxxx Xxx Institutional Floating Rate Income Fund Feeder
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Xxxxx Xxx Floating Rate Limited Liability Company Master
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CLOSED END FUNDS
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Colonial Intermediate High Income Fund Fund
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Colonial InterMarket Income Trust I Fund
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Colonial Insured Municipal Fund Fund
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Colonial California Insured Municipal Fund Fund
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Colonial New York Insured Municipal Fund Fund
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Colonial Municipal Income Trust Fund
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Colonial Investment Grade Municipal Trust Fund
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Colonial High Income Municipal Trust Fund
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Liberty Floating Rate Advantage Fund Fund
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LIBERTY VARIABLE INVESTMENT TRUST
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Liberty Growth & Income Fund, VS Fund
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Colonial Small Cap Value Fund VS Fund
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Liberty All-Star Equity Fund, VS Fund
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Liberty Select Value Fund, VS Fund
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Liberty S&P 500 Index Fund, VS Fund
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Colonial Strategic Income Fund, VS Fund
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Columbia International Fund, VS Fund
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Newport Tiger Fund, VS Fund
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STEINROE VARIABLE INVESTMENT TRUST
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Liberty Asset Allocation Fund, VS Fund
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Xxxxx Xxx Growth Stock Fund, VS Fund
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Liberty Small Company Growth Fund, VS Fund
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Liberty Money Market Fund, VS Fund
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Liberty Federal Securities Fund, VS Fund
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