Exhibit (8)(d)
FIRST AMERICAN INVESTMENT FUNDS, INC.
COMPENSATION AGREEMENT DATED AS OF AUGUST 5, 1997
PURSUANT TO CUSTODIAN AGREEMENT
WHEREAS, First American Investment Funds, Inc., a Maryland corporation
(hereinafter called the "Fund"), and First Trust National Association, a
national banking association organized and existing under the laws of the United
States of America with its principal place of business at Minneapolis, Minnesota
(hereinafter called the "Custodian"), previously entered into that Custodian
Agreement dated September 20, 1993 (the "Custodian Agreement"); and
WHEREAS, Article 12 of the Custodian Agreement provides that the
Custodian shall be paid compensation at such rates and at such times as may from
time to time be agreed on in writing by the parties thereto; and
WHEREAS, the Fund and the Custodian previously entered into that
Compensation Agreement dated as of January 1, 1997, for such purpose with
respect to the then-existing series of the Fund; and
WHEREAS, the Fund and the Custodian wish to amend such compensation
agreement in order to add provisions thereto relating to Oregon Intermediate Tax
Free Fund, California Intermediate Tax Free Fund, and Micro-Cap Value Fund.
NOW, THEREFORE, the Fund and the Custodian agree as follows:
1. The compensation payable to the Custodian pursuant to the Custodian
Agreement with respect to the respective series of the Fund shall be payable
monthly at the following annual rates as percentages of the respective series'
average daily net assets: Stock Fund, Equity Index Fund, Balanced Fund, Asset
Allocation Fund, Regional Equity Fund, Special Equity Fund, Limited Term Income
Fund, Intermediate Term Income Fund, Fixed Income Fund, Intermediate Government
Bond Fund, Health Sciences Fund, Real Estate Securities Fund, Equity Income
Fund, Diversified Growth Fund, Emerging Growth Fund, Technology Fund,
Intermediate Tax Free Fund, Minnesota Insured Intermediate Tax Free Fund,
Colorado Intermediate Tax Free Fund, Oregon Intermediate Tax Free Fund,
California Intermediate Tax Free Fund, and Micro Cap Value Fund 0.03%; and
International Fund, 0.25%. The Custodian shall pay subcustodian fees with
respect to International Fund out of the compensation payable to the Custodian
with respect to such fund as set forth above. The Fund shall reimburse the
Custodian for all other out-of-pocket expenses incurred by the Custodian in
connection with the performance of the Custodian's services under the Custodian
Agreement.
2. This Compensation Agreement restates and supersedes all prior
compensation agreements pursuant to Article 12 of the Custodian Agreement.
IN WITNESS WHEREOF, the Fund and the Custodian have caused this
instrument to be executed in duplicate as of the date first above written by
their duly authorized officers.
FIRST AMERICAN INVESTMENT
FUNDS, INC.
By /s/ Xxxxxxx Xxxxxxx
Its Vice President
FIRST TRUST NATIONAL
ASSOCIATION
By /s/ Xxxx Xxxxxx
Its Vice President
