EXHIBIT 8(m)
State Street Bank and Trust Company
0000 Xxxxxxxx Xxxxx
Xxxxx Xxxxxx, XX 00000
Gentlemen:
Pursuant to Section 12 of the Custodian Agreement dated as of November 3,
1982 between USAA Mutual Fund, Inc. (the "Company") and State Street Bank and
Trust Company (the "Custodian"), please be advised that the Company has
established two new series of its shares, namely, the Science & Technology Fund
and the First Start Growth Fund (the "Funds"), and please be further advised
that the Company desires to retain the Custodian to render custody services
under the Custodian Agreement to the Funds in accordance with the fee schedule
attached hereto as Exhibit A.
Please state below whether you are willing to render such services in
accordance with the fee schedule attached hereto as Exhibit A.
USAA MUTUAL FUND, INC.
Attest: /s/ Xxxxxxx X. Xxxxxx By: /s/ Xxxxxxx X. X. Xxxx
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Secretary President
Dated: August 1, 1997
We are willing to render custody services to the Science & Technology Fund
and the First Start Growth Fund in accordance with the fee schedules attached
hereto as Exhibit A.
STATE STREET BANK AND TRUST COMPANY
Attest: /s/ Xxxx Xxxxxxxx By: /s/ Xxxxxxxxxx Xxxxxxx
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Dated: 8/1/97
contract\mf\custodia.n\cusmfsci.fsg
STATE STREET BANK AND TRUST COMPANY
CUSTODIAN FEE SCHEDULE
USAA INVESTMENT TRUST
USAA MUTUAL FUND, INC.
USAA TAX EXEMPT FUND, INC.
USAA STATE TAX FREE TRUST
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I. Custody, Portfolio and Fund Accounting Services - Mantain investment
ledgers, provide selected portfolio transactions, position and income
reports. Maintain general ledger, and capital stock accounts. Prepare
daily trial balance. Calculate net asset value daily. Provide selected
general ledger reports. Securities yield or market value quotations will
be provided to State Street by the fund or via State Streets Automated
Pricing service.
The administration fee shown below is an annual charge, in basis points,
billed and payable monthly, based on average monthly net assets.
ANNUAL FEES PER PORTFOLIO
-------------------------
Annual Full Service Fees
------------------------
First 50 Million 3.00 Basis Points
Next 50 Million 2.00 Basis Points
Next 100 Million 1.00 Basis Points
Excess .80 Basis Points
Minimum Monthly Charge WAIVED
II. Portfolio Trades - For Each Line Item Processed
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State Street Bank Repos $ 7.00
DTC or Fed Book Entry $ 8.00
Boston/New York Physical $25.00
PTC Buy/Sell $20.00
All Other Trades $16.00
Maturity Collections (NY Physical) $ 8.00
Option Charge for each option written or
closing contract, per issue, per broker $25.00
Option expiration/Option exercised $15.00
Interest Rate Futures -- no security movement $ 8.00
Monitoring for calls and processing coupons --
for each coupon issue held -- monthly charge $ 5.00
Principal Reduction Payments Per Paydown $10.00
Interest/Dividend Claim Charges
(For items held at the Request of Traders
over record date in street form) $50.00
III. Holdings Charge
---------------
Per Security per Month (Domestic Securities Only) $ 5.00
STATE STREET BANK AND TRUST COMPANY
CUSTODIAN FEE SCHEDULE
USAA INVESTMENT TRUST
USAA MUTUAL FUND, INC.
USAA TAX EXEMPT FUND, INC.
USAA STATE TAX FREE TRUST
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IV. Affirmation Charge
------------------
Per Affirmation per Month $ 1.00
V. Global Custody
--------------
U.S. Equivalent Market Value 11.00 Basis Points
Euroclear 5.00 Basis Points
VI. Automated Pricing Via NAVigator
-------------------------------
Monthly Base Fee:
Funds with International Holdings $375.00
All other Funds $300.00
Monthly Quote Charge:
- Municipal Bonds via Xxxxxx Data $ 10.00
- Municipal Bonds via Xxxxx Information Systems $ 16.00
- Government, Corporate and Convertible Bonds
via Xxxxxxx Xxxxx $ 11.00
- Corporate and Government Bonds via Xxxxxx Data $ 11.00
- Options, Futures and Private Placements $ 6.00
- Foreign Equities and Bonds via Extel Ltd. $ 6.00
- Listed Equities, OTC Equities, and Bonds $ 6.00
- Corporate, Municipal, Convertible and
Government Bonds, Adjustable Rate Preferred
Stocks via IDSI $ 12.00
VII. Shareholder Check-Writing Service
---------------------------------
Per check presented for payment
(excluding postage) $ .65
VIII. Advertised Yield Service
------------------------
Annual Maintenance Fee:
For each portfolio maintained, monthly charge is based on the number of
holding as followed:
STATE STREET BANK AND TRUST COMPANY
CUSTODIAN FEE SCHEDULE
USAA INVESTMENT TRUST
USAA MUTUAL FUND, INC.
USAA TAX EXEMPT FUND, INC.
USAA STATE TAX FREE TRUST
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Holding per Portfolio Monthly Charge
--------------------- --------------
0 to 50 $250.00
50 to 100 $300.00
Over 100 $350.00
IX. Special Services
----------------
Fees for activities of a non-recurring nature such as fund consolidations
or reorganizations, extraordinary security shipments and the preparation
of special reports will be subject to negotiation. Fees for yield
calculation, securities lending, and other special items will be
negotiated separately.
X. Out-of-Pocket Expenses
----------------------
A billing for the recovery of applicable out-of-pocket expenses will be
made as of the end of each month. Out-of-pocket expenses include, but are
not limited to the following:
Telephone/Telex
Wire Charges ($5.25 per wire and $5.00 out)
Postage and Insurance (includes check writing postage)
Courier Service
Duplicating
Legal Fees
Supplies Related to Fund Records
Rush Transfer - $8.00 Each
Transfer Fees
Sub-Custodian Charges
Price Waterhouse Audit Letter
Federal Reserve Fee for Return Check items over $2,500 - $4.25
(Xxxx directly to USAA Transfer Agency Company)
GNMA Transfer - $15 each
PTC Deposit/Withdrawal for same day turnarounds - $50.00
STATE STREET BANK AND TRUST COMPANY
CUSTODIAN FEE SCHEDULE
USAA INVESTMENT TRUST
USAA MUTUAL FUND, INC.
USAA TAX EXEMPT FUND, INC.
USAA STATE TAX FREE TRUST
USAA INVESTMENT TRUST
USAA MUTUAL FUND, INC.
USAA TAX EXEMPT FUND, INC.
USAA STATE TAX FREE TRUST
XXXXXXXXXXXXXXXXXXXXXXX STATE STREET BANK & TRUST CO.
BY: /s/ XXXXXXX XXXX BY: /s/ XXXXXXXXXX XXXXXXX
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Xxxxxxxxxx Xxxxxxx
TITLE: TREASURER TITLE: VICE PRESIDENT
DATE: 7-10-97 DATE: 7/7/97
