Exhibit (m)(15)
Fund: ▇▇▇▇▇▇▇ International Research Fund, Inc. (the "Fund")
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Series: ▇▇▇▇▇▇▇ International Research Fund (the "Series")
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Class: Class C (the "Class")
AMENDED AND RESTATED RULE 12b-1 PLAN
Pursuant to the provisions of Rule 12b-1 under the Investment Company
Act of 1940 (the "Act"), this Amended and Restated Rule 12b-1 Plan (the "Plan")
has been adopted for the Fund, on behalf of the Series, for the Class (all as
noted and defined above) by a majority of the members of the Fund's Board of
Directors, including a majority of the Directors who are not "interested
persons" of the Fund and who have no direct or indirect financial interest in
the operation of the Plan or in any agreements related to the Plan (the
"Qualified Directors") at a meeting called for the purpose of voting on this
Plan.
1. Compensation. The Fund will pay to ▇▇▇▇▇▇▇ Distributors, Inc.
("SDI") at the end of each calendar month a distribution services fee computed
at the annual rate of .75% of the average daily net assets attributable to the
Class. SDI may compensate various financial services firms appointed by SDI
("Firms") in accordance with the provisions of the Fund's Underwriting and
Distribution Services Agreement (the "Distribution Agreement") for sales of
shares at the fee levels provided in the Fund's prospectus from time to time.
SDI may pay other commissions, fees or concessions to Firms, and may pay them to
others in its discretion, in such amounts as SDI may determine from time to
time. The distribution services fee for the Class shall be based upon the
average daily net assets of the Series attributable to the Class and such fee
shall be charged only to that Class. For the month and year in which this Plan
becomes effective or terminates, there shall be an appropriate proration of the
distribution services fee set forth herein on the basis of the number of days
that the Plan, the Distribution Agreement and any agreement related to the Plan
is in effect during the month and year, respectively. The distribution services
fee shall be in addition to and shall not be reduced or offset by the amount of
any contingent deferred sales charge received by SDI.
2. Additional Services. Pursuant to the terms of an Shareholder
Services Agreement (the "Services Agreement"), SDI provides information and
administrative services for the benefit of the Fund and its shareholders. This
Plan authorizes the Fund to pay SDI the administrative services fee computed at
an annual rate of up to 0.25 of 1% of the average daily net assets of the Class,
as set forth in the Services Agreement. As described in the Services Agreement,
SDI may use the administrative services fee to compensate various Firms for
providing such office space and equipment, telephone facilities, personnel or
other services as may be necessary or beneficial for providing information and
services to investors in the Fund. Such services and assistance may include, but
are not limited to, establishing and maintaining accounts and records,
processing purchase and redemption transactions, answering routine inquiries
regarding the Fund and its special features, providing assistance to investors
in changing dividend and investment options, account designations and addresses,
and such other administrative services as the Fund or SDI may reasonably
request.
3. Periodic Reporting. SDI shall prepare reports for the Board of
Directors of the Fund on a quarterly basis for the Class showing amounts paid to
the various Firms pursuant to this Plan, the Services Agreement and any other
related agreement, the purpose of such expenditure, and such other information
as from time to time shall be reasonably requested by the Board of Directors.
4. Continuance. This Plan shall continue in effect indefinitely,
provided that such continuance is approved at least annually by a vote of a
majority of the Directors, and of the Qualified Directors, cast in person at a
meeting called for such purpose.
5. Termination. This Plan may be terminated at any time without penalty
with respect to the Class by vote of a majority of the Qualified Directors or by
vote of the majority of the outstanding voting securities of the Class.
6. Amendment. This Plan may not be amended to materially increase the
amount payable to SDI by the Fund either for distribution services or for
services under the Services Agreement with respect to the Class without the vote
of a majority of the outstanding voting securities of the Class. All material
amendments to this Plan must in any event be approved by a vote of a majority of
the Board, and of the Qualified Directors, cast in person at a meeting called
for such purpose.
7. Selection of Non-Interested Directors. So long as this Plan is in
effect, the selection and nomination of those Directors who are not interested
persons of the Fund will be committed to the discretion of Directors who are not
themselves interested persons.
8. Recordkeeping. The Fund will preserve copies of this Plan, the
Distribution Agreement, the Services Agreement and all reports made pursuant to
Paragraph 3 above for a period of not less than six (6) years from the date of
this Plan, the Distribution Agreement, the Services Agreement or any such
report, as the case may be, the first two (2) years in an easily accessible
place.
9. Limitation of Liability. Any obligation of the Fund hereunder shall
be binding only upon the assets of the Class and shall not be binding on any
director, officer, employee, agent, or shareholder of the Fund.
10. Definitions. The terms "interested person" and "vote of a majority
of the outstanding voting securities" shall have the meanings set forth in the
Act and the rules and regulations thereunder.
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11. Severability; Separate Action. If any provision of this Plan shall
be held or made invalid by a court decision, rule or otherwise, the remainder of
this Plan shall not be affected thereby. Action shall be taken separately for
the Series or Class as the Act or the rules thereunder so require.
Dated: July 1, 2001
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