SCHEDULE A TO THE ADMINISTRATION AGREEMENT DATED AS OF JULY 1, 2005,
BETWEEN FIRST AMERICAN INVESTMENT FUNDS, INC. (THE "FUND") AND
U.S. BANCORP ASSET MANAGEMENT, INC. (THE "ADMINISTRATOR")
ADMINISTRATION FEES
Pursuant to Article 2, the Fund shall pay the Administrator
compensation for services rendered to each Portfolio, calculated daily and paid
monthly, at the annual rates set forth in the following table. Such rates are
based on the net assets of all open-end mutual funds for which the Administrator
acts as investment adviser and provides administrative services ("Complex-Wide
Assets"):
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COMPLEX-WIDE ASSETS FEE
(IN BILLIONS) (PER ANNUM)
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First $8 billion 15.0 bp
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Next $17 billion 13.5 bp
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Next $25 billion 12.0 bp
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Assets over $50 billion 10.0 bp
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Complex-Wide Assets at the end of each day are applied to the above fee
schedule to determine the hypothetical fee that would be charged if such
schedule were applicable to all open-end mutual funds for which the
Administrator acts as investment adviser and provides administrative services
(the "Complex-Wide Fee"). Each Portfolio is then charged an administrative fee
(accrued daily and calculated and paid monthly) equal to its proportionate
amount of the Complex-Wide Fee, determined based on the Portfolio's
proportionate amount of Complex-Wide Assets.
OUT-OF-POCKET EXPENSES
In addition to paying the Administrator the fees described above, the
Fund agrees to reimburse the Administrator for its out-of-pocket expenses in
providing services hereunder, including without limitation the following:
(a) All postage and delivery charges incurred by the Administrator
in delivering materials to and from the Fund;
(b) All telephone, telecopy or other electronic transmission and
communication expenses incurred by the Administrator in
communication with the Fund, the Fund's custodian or others as
required for the Administrator to perform the services to be
provided hereunder;
(c) The Fund's pro rata share of the cost of the Administrator
obtaining pricing service quotations;
(d) The cost of any media used to create and store records or
other materials;
(e) All systems-related expenses associated with the provision of
special reports and services;
(f) Any expenses the Administrator shall incur at the written
direction of an officer of the Fund thereunto duly authorized;
and
(g) Any additional expenses, agreed to in advance by the Fund,
reasonably incurred by the Administrator in the performance of
its duties and obligations under this Agreement.