EXECUTION COPY
ADMINISTRATION AGREEMENT
Agreement dated as of October 1, 2001 by and between State
Street Bank and Trust Company, a Massachusetts trust company (the
"Administrator"), and Met Investors Series Trust, a Delaware business trust (the
"Trust").
WHEREAS, the Trust is registered as an open-end, management
investment company under the Investment Company Act of 1940, as amended (the
"1940 Act"); and
WHEREAS, the Trust desires to retain the Administrator to
furnish certain administrative services to the Trust, and the Administrator is
willing to furnish such services, on the terms and conditions hereinafter set
forth.
NOW, THEREFORE, in consideration of the premises and mutual
covenants herein contained, the parties hereto agree as follows:
1. APPOINTMENT OF ADMINISTRATOR
The Trust hereby appoints the Administrator to act as
administrator with respect to the Trust for purposes of providing certain
administrative services for the period and on the terms set forth in this
Agreement. The Administrator accepts such appointment and agrees to render the
services stated herein.
The Trust will initially consist of the portfolio(s) and/or
class(es) of shares (each an "Investment Fund") listed in Schedule A to this
Agreement. In the event that the Trust establishes one or more additional
Investment Funds with respect to which it wishes to retain the Administrator to
act as administrator hereunder, the Trust shall notify the Administrator in
writing. Upon written acceptance by the Administrator, such Investment Fund
shall become subject to the provisions of this Agreement to the same extent as
the existing Investment Funds, except to the extent that such provisions
(including those relating to the compensation and expenses payable by the Trust
and its Investment Funds) may be modified with respect to each additional
Investment Fund in writing by the Trust and the Administrator at the time of the
addition of the Investment Fund.
2. DELIVERY OF DOCUMENTS
The Trust will promptly deliver to the Administrator copies of
each of the following documents and all future amendments and supplements, if
any:
a. The Trust's Agreement and Declaration of Trust and by-laws;
b. The Trust's currently effective registration statement under the
Securities Act of 1933, as amended (the "1933 Act"), and the 1940
Act and the Trust's Prospectus(es) and Statement(s) of Additional
Information relating to all Investment Funds and all amendments
and supplements thereto as in effect from time to time;
c. Certified copies of the resolutions of the Board of Trustees of
the Trust (the "Board") authorizing (1) the Trust to enter into
this Agreement and (2) certain individuals on behalf of the Trust
to (a) give instructions to the Administrator pursuant to this
Agreement and (b) sign checks and pay expenses;
d. A copy of the investment advisory agreement between the Trust and
its investment adviser; and
e. Such other certificates, documents or opinions which the
Administrator may, in its reasonable discretion, deem necessary
or appropriate in the proper performance of its duties.
3. REPRESENTATIONS AND WARRANTIES OF THE ADMINISTRATOR
The Administrator represents and warrants to the Trust that:
a. It is a Massachusetts trust company, duly organized and
existing under the laws of The Commonwealth of
Massachusetts;
b. It has the corporate power and authority to carry on its
business in The Commonwealth of Massachusetts;
c. All requisite corporate proceedings have been taken to
authorize it to enter into and perform this Agreement;
d. No legal or administrative proceedings have been instituted
or threatened which would impair the Administrator's ability
to perform its duties and obligations under this Agreement;
and
e. Its entrance into this Agreement shall not cause a material
breach or be in material conflict with any other agreement
or obligation of the Administrator or any law or regulation
applicable to it.
4. REPRESENTATIONS AND WARRANTIES OF THE TRUST
The Trust represents and warrants to the Administrator that:
a. It is a business trust, duly organized, existing and in good
standing under the laws of the State of Delaware;
b. It has the power and authority under applicable laws and by
its charter and by-laws to enter into and perform this
Agreement;
c. All requisite proceedings have been taken to authorize it to
enter into and perform this Agreement;
d. It is an investment company properly registered under the
1940 Act;
e. A registration statement under the 1933 Act and the 1940 Act
has been filed and will be effective and remain effective
during the term of this Agreement. The Trust also warrants
to the Administrator that as of the effective date of this
Agreement, all necessary filings under the securities laws
of the states in which the Trust offers or sells its shares
have been made;
f. No legal or administrative proceedings have been instituted
or threatened which would impair the Trust's ability to
perform its duties and obligations under this Agreement;
g. Its entrance into this Agreement will not cause a material
breach or be in material conflict with any other agreement
or obligation of the Trust or any law or regulation
applicable to it; and
h. As of the close of business on the date of this Agreement,
the Trust is authorized to issue an unlimited number of
shares of beneficial interest.
5. ADMINISTRATION SERVICES
The Administrator shall provide the following services, in
each case, subject to the control, supervision and direction of the Trust and
the review and comment by the Trust's auditors and legal counsel and in
accordance with procedures which may be established from time to time between
the Trust and the Administrator:
a. Oversee the determination and publication of the Trust's net
asset value in accordance with the Trust's policy as adopted
from time to time by the Board;
b. Oversee the maintenance by the Trust's custodian of certain
books and records of the Trust as required under Rule
31a-1(b) of the 1940 Act;
c. Prepare the Trust's federal, state and local income tax
returns for review by the Trust's independent accountants
and execution by the Trust's treasurer; file the Trust's
federal, state and local income tax returns;
d. Review calculation, submit for approval by officers of the
Trust and arrange for payment of the Trust's expenses;
e. Prepare for review and approval by officers of the Trust
financial information for the Trust's semi-annual and annual
reports, proxy statements and other communications required
or otherwise to be sent to Trust shareholders, and arrange
for the printing and dissemination of such reports and
communications to shareholders;
f. Prepare for review by an officer of and legal counsel for
the Trust the Trust's periodic financial reports required to
be filed with the Securities and Exchange Commission ("SEC")
on Form N-SAR and financial information required by Form
N-1A and such other reports, forms or filings as may be
mutually agreed upon;
g. Prepare reports relating to the business and affairs of the
Trust as may be mutually agreed upon and not otherwise
prepared by the Trust's investment adviser, custodian, legal
counsel or independent accountants;
h. Make such reports and recommendations to the Board
concerning the performance of the independent accountants as
the Board may reasonably request;
i. Make such reports and recommendations to the Board
concerning the performance and fees of the Trust's custodian
and transfer and dividend disbursing agent ("Transfer
Agent") as the Board may reasonably request or deems
appropriate;
j. Oversee and review calculations of fees paid to the Trust's
investment adviser, custodian and Transfer Agent;
k. Consult with the Trust's officers, independent accountants,
legal counsel, custodian and Transfer Agent in establishing
the accounting policies of the Trust;
l. Respond to, or refer to the Trust's officers or Transfer
Agent, shareholder inquiries relating to the Trust;
m. Provide periodic testing of portfolios to assist the Trust's
investment adviser in complying with Internal Revenue Code
mandatory qualification requirements, the requirements of
the 1940 Act and Trust prospectus limitations as may be
mutually agreed upon;
n. Review and provide assistance on shareholder communications;
o. Maintain general corporate calendar;
p. Maintain copies of the Trust's Agreement and Declaration of
Trust and by-laws;
q. File annual and semi-annual shareholder reports with the
appropriate regulatory agencies; review text of "President's
letters" to shareholders and "Management's Discussion of
Trust Performance" (which shall also be subject to review by
the Trust's legal counsel);
r. Organize, attend and prepare minutes of shareholder
meetings;
s. Provide consultation on regulatory matters relating to
portfolio management, Trust operations and any potential
changes in the Trust's investment policies, operations or
structure; act as liaison to legal counsel to the Trust and,
where applicable, to legal counsel to the Trust's
independent Board members;
t. Prepare performance information such as before and after-tax
total returns;
u. Maintain continuing awareness of significant emerging
regulatory and legislative developments which may affect the
Trust, update the Board and the investment adviser on those
developments and provide related planning assistance where
requested or appropriate;
v. Develop or assist in developing guidelines and procedures to
improve overall compliance by the Trust and its various
agents;
w. Counsel and assist the Trust in the handling of routine
regulatory examinations and work closely with the Trust's
legal counsel in response to any non-routine regulatory
matters;
Subject to review and comment by the Trust's legal counsel:
x. Prepare for filing with the SEC amendments to the Trust's
registration statement, including updating the Prospectus
and Statement of Additional Information, where applicable;
y. Prepare for filing with the SEC proxy statements; provide
consultation on proxy solicitation matters;
z. Prepare agenda and background materials for Board meetings,
make presentations where appropriate, prepare minutes and
follow-up on matters raised at Board meetings;
aa. Prepare and file with the SEC Rule 24f-2 notices; and
bb. Supply the Trust with officers, as necessary.
The Administrator shall provide the office facilities and the personnel required
by it to perform the services contemplated herein.
6. FEES; EXPENSES; EXPENSE REIMBURSEMENT
The Administrator shall receive from the Trust such
compensation for the Administrator's services provided pursuant to this
Agreement as may be agreed to from time to time in a written fee schedule
approved by the parties and initially set forth in the Fee Schedule to this
Agreement. The fees are accrued daily and billed monthly and shall be due and
payable promptly after receipt of the invoice. Upon the termination of this
Agreement before the end of any month, the fee for the part of the month before
such termination shall be prorated according to the proportion which such part
bears to the full monthly period and shall be payable upon the date of
termination of this Agreement. In addition, the Trust shall reimburse the
Administrator for its out-of-pocket costs incurred in connection with this
Agreement, as may be agreed to by the parties from time to time.
The Trust agrees promptly to reimburse the Administrator for
any equipment and supplies specially ordered by or for the Trust through the
Administrator and for any other expenses not contemplated by this Agreement that
the Administrator may incur on the Trust's behalf at the Trust's request or with
the Trust's consent.
The Trust will bear all expenses that are incurred in its
operation and not specifically assumed by the Administrator. Expenses to be
borne by the Trust, include, but are not limited to: organizational expenses;
cost of services of independent accountants and outside legal and tax counsel
(including such counsel's review of the Trust's registration statement, proxy
materials, federal and state tax qualification as a regulated investment company
and other reports and materials prepared by the Administrator under this
Agreement); cost of any services contracted for by the Trust directly from
parties other than the Administrator; cost of trading operations and brokerage
fees, commissions and transfer taxes in connection with the purchase and sale of
securities for the Trust; investment advisory fees; taxes, insurance premiums
and other fees and expenses applicable to its operation; costs incidental to any
meetings of shareholders including, but not limited to, legal and accounting
fees, proxy filing fees and the costs of preparation (excluding preparation as
provided in Section 5x) and ▇▇▇▇▇ filing, printing and mailing of any proxy
materials; costs incidental to Board meetings, including fees and expenses of
Board members; the salary and expenses of any officer, director\trustee or
employee of the Trust, other than employees of the Administrator; costs
incidental to the preparation (excluding preparation as provided in Section 5w)
and ▇▇▇▇▇ filing, printing and distribution of the Trust's registration
statements and any amendments thereto and shareholder reports; cost of
typesetting and printing of prospectuses; cost of preparation (excluding
preparation as provided in Section 5) and filing of the Trust's tax returns,
Form N-1A or N-2 and Form N-SAR, and all notices, registrations and amendments
associated with applicable federal and state tax and securities laws; all
applicable registration fees and filing fees required under federal and state
securities laws; fidelity bond and directors' and officers' liability insurance;
and cost of independent pricing services used in computing the Trust's net asset
value.
The Administrator is authorized to and may employ or associate with
such person or persons as the Administrator may deem desirable to assist it in
performing its duties under this Agreement; provided, however, that the
compensation of such person or persons shall be paid by the Administrator and
that the Administrator shall be as fully responsible to the Trust for the acts
and omissions of any such person or persons as it is for its own acts and
omissions.
7. INSTRUCTIONS AND ADVICE
At any time, the Administrator may apply to any officer of the
Trust for instructions and may consult with its own legal counsel at its own
expense or outside counsel for the Trust or the independent accountants for the
Trust at the expense of the Trust, with respect to any matter arising in
connection with the services to be performed by the Administrator under this
Agreement. The Administrator shall not be liable, and shall be indemnified by
the Trust, for any action taken or omitted by it in good faith in reliance upon
any such instructions or advice or upon any paper or document reasonably
believed by it to be genuine and to have been signed by the proper person or
persons. The Administrator shall not be held to have notice of any change of
authority of any person until receipt of written notice thereof from the Trust.
Nothing in this paragraph shall be construed as imposing upon the Administrator
any obligation to seek such instructions or advice, or to act in accordance with
such advice when received.
8. LIMITATION OF LIABILITY AND INDEMNIFICATION
The Administrator shall be responsible for the performance of
only such duties as are set forth in this Agreement and, except as otherwise
provided under Section 6, shall have no responsibility for the actions or
activities of any other party, including other service providers. The
Administrator shall have no liability in respect of any loss, damage or expense
suffered by the Trust insofar as such loss, damage or expense arises from the
performance of the Administrator's duties hereunder in reliance upon records
that were maintained for the Trust by entities other than the Administrator
prior to the Administrator's appointment as administrator for the Trust. The
Administrator shall have no liability for any error of judgment or mistake of
law or for any loss or damage resulting from the performance or nonperformance
of its duties hereunder unless solely caused by or resulting from the bad faith,
negligence, willful misconduct or reckless disregard of the duties and
obligations of the Administrator, its officers or employees. The Administrator
shall not be liable for any special, indirect, incidental, or consequential
damages of any kind whatsoever (including, without limitation, attorneys' fees)
under any provision of this Agreement. In any event, for any liability or loss
suffered by the Trust including, but not limited to, any liability relating to
qualification of the Trust as a regulated investment company or any liability
relating to the Trust's compliance with any federal or state tax or securities
statute, regulation or ruling, the Administrator's liability under this
Agreement shall be limited to such amount as may be agreed upon from time to
time between the parties hereto.
Except as may arise from the Administrator's bad faith,
negligence, willful misconduct or reckless disregard of its duties and
obligations under this Agreement, the Administrator shall not be responsible or
liable for any failure or delay in performance of its obligations under this
Agreement arising out of or caused, directly or indirectly, by circumstances
beyond its control, including without limitation, work stoppage, power or other
mechanical failure, computer virus, natural disaster, governmental action or
communication disruption.
The Trust shall indemnify and hold the Administrator harmless
from all loss, cost, damage and expense, including reasonable fees and expenses
for counsel, incurred by the Administrator resulting from any claim, demand,
action or suit in connection with the Administrator's acceptance of this
Agreement, any action or omission by it in the performance of its duties
hereunder, or as a result of acting upon any instructions reasonably believed by
it to have been duly authorized by the Trust, provided that this indemnification
shall not apply to actions or omissions of the Administrator, its officers or
employees in cases of its or their own bad faith, negligence, willful misconduct
or reckless disregard of their duties and obligations.
The Trust will be entitled to participate at its own expense
in the defense, or, if it so elects, to assume the defense of any suit brought
to enforce any liability subject to the indemnification provided above. In the
event the Trust elects to assume the defense of any such suit and retain
counsel, the Administrator or any of its affiliated persons, named as defendant
or defendants in the suit, may retain additional counsel but shall bear the fees
and expenses of such counsel unless (i) the Trust shall have specifically
authorized the retaining of such counsel or (ii) the Administrator shall have
determined in good faith that the retention of such counsel is required as a
result of a conflict of interest.
The indemnification contained herein shall survive the
termination of this Agreement.
9. CONFIDENTIALITY
The Administrator agrees that, except as otherwise required by
law or in connection with any required disclosure to a banking or other
regulatory authority, it will keep confidential all records and information in
its possession relating to the Trust or its shareholders or shareholder accounts
and will not disclose the same to any person except at the request or with the
written consent of the Trust.
10. COMPLIANCE WITH GOVERNMENTAL RULES AND REGULATIONS; RECORDS
The Trust assumes full responsibility for complying with all
securities, tax, commodities and other laws, rules and regulations applicable to
it.
In compliance with the requirements of Rule 31a-3 under the
1940 Act, the Administrator agrees that all records which it maintains for the
Trust shall at all times remain the property of the Trust, shall be readily
accessible during normal business hours, and shall be promptly surrendered upon
the termination of the Agreement or otherwise on written request. The
Administrator further agrees that all records which it maintains for the Trust
pursuant to Rule 31a-1 under the 1940 Act will be preserved for the periods
prescribed by Rule 31a-2 under the 1940 Act unless any such records are earlier
surrendered as provided above. Records shall be surrendered in usable
machine-readable form.
11. SERVICES NOT EXCLUSIVE
The services of the Administrator to the Trust are not to be
deemed exclusive, and the Administrator shall be free to render similar services
to others. The Administrator shall be deemed to be an independent contractor and
shall, unless otherwise expressly provided herein or authorized by the Trust
from time to time, have no authority to act or represent the Trust in any way or
otherwise be deemed an agent of the Trust.
12. TERM, TERMINATION AND AMENDMENT
(a) This Agreement shall become effective on the date
first written above and shall remain in full force
and effect until December 31, 2002 and shall
automatically continue in full force and effect after
such initial term unless either party terminates this
Agreement by written notice to the other party at
least sixty (60) days prior to the expiration of the
initial term.
(b) Either party may terminate this Agreement at any time
after the initial term upon at least sixty (60) days'
prior written notice to the other party. Termination
of this Agreement with respect to any given
Investment Fund shall in no way affect the continued
validity of this Agreement with respect to any other
Investment Fund.
(c) If this Agreement is terminated as to any additional
Investment Fund, or if any such additional Investment
Fund is closed, in each case within three (3) years
of such additional Investment Fund being added to the
list of Investment Funds on Schedule A, then such
additional Investment Fund shall repay any previously
waived minimum fees to the Administrator.
(d) Upon termination of this Agreement, the Trust shall
pay to the Administrator such compensation and any
reimbursable expenses as may be due under the terms
hereof as of the date of such termination, including
reasonable out-of-pocket expenses associated with
such termination.
(e) This Agreement may be modified or amended from time to
time by mutual written agreement of the parties hereto.
13. NOTICES
Any notice or other communication authorized or required by this Agreement
to be given to either party shall be in writing and deemed to have been given
when delivered in person or by confirmed facsimile, or posted by certified mail,
return receipt requested, to the following address (or such other address as a
party may specify by written notice to the other): if to the Trust: Met
Investors Series Trust, ▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇
▇▇▇▇▇, Attn: ▇▇▇▇▇▇▇▇▇ ▇. Forget, fax: (▇▇▇) ▇▇▇-▇▇▇▇; if to the Administrator:
State Street Bank and Trust Company, ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇,
▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇-▇▇▇▇, Attn: Fund Administration Legal Department, fax:
▇▇▇-▇▇▇-▇▇▇▇.
14. NON-ASSIGNABILITY
This Agreement shall not be assigned by either party hereto
without the prior consent in writing of the other party.
15. SUCCESSORS
This Agreement shall be binding on and shall inure to the
benefit of the Trust and the Administrator and their respective successors and
permitted assigns.
16. ENTIRE AGREEMENT
This Agreement contains the entire understanding between the
parties hereto with respect to the subject matter hereof and supersedes all
previous representations, warranties or commitments regarding the services to be
performed hereunder whether oral or in writing.
17. WAIVER
The failure of a party to insist upon strict adherence to any
term of this Agreement on any occasion shall not be considered a waiver nor
shall it deprive such party of the right thereafter to insist upon strict
adherence to that term or any term of this Agreement. Any waiver must be in
writing signed by the waiving party.
18. SEVERABILITY
If any provision of this Agreement is invalid or
unenforceable, the balance of the Agreement shall remain in effect, and if any
provision is inapplicable to any person or circumstance it shall nevertheless
remain applicable to all other persons and circumstances.
19. GOVERNING LAW
This Agreement shall be construed and the provisions thereof
interpreted under and in accordance with the laws of The Commonwealth of
Massachusetts.
20. REPRODUCTION OF DOCUMENTS
This Agreement and all schedules, exhibits, attachments and
amendments hereto may be reproduced by any photographic, photostatic, microfilm,
micro-card, miniature photographic or other similar process. The parties hereto
all/each agree that any such reproduction shall be admissible in evidence as the
original itself in any judicial or administrative proceeding, whether or not the
original is in existence and whether or not such reproduction was made by a
party in the regular course of business, and that any enlargement, facsimile or
further reproduction of such reproduction shall likewise be admissible in
evidence.
21. TRUST MATTERS
The words "Met Investors Series Trust" and "Trustees" or
"Board of Trustees" used herein refer respectively to the Trust created and the
Trustees, as trustees of the Trust but not individually or personally acting
from time to time under an Agreement and Declaration of Trust dated July 27,
2000 which is hereby referred to and a copy of which is on file at the office of
the Secretary of State of the State of Delaware and at the principal office of
the Trust. The obligations of "Met Investors Series Trust" entered into the name
or on behalf thereof by any of the Trustees, officers, representatives or agents
of the Trust are made not individually, but in such capacities, and are not
binding upon any of the Trustees, shareholders, officers, representatives or
agents of the Trust personally, but bind only the Trust property, and all
persons dealing with any class of shares of the Trust must look solely to the
Trust property belonging to such class for the enforcement of any claims against
the Trust.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed by their officers designated below as of the date first written above.
MET INVESTORS SERIES TRUST
By:
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Name: ▇▇▇▇▇▇▇▇▇ ▇. Forget
Title: President
STATE STREET BANK AND TRUST COMPANY
By:
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Name: ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Title: Executive Vice President
MET INVESTORS SERIES TRUST
ADMINISTRATION AGREEMENT
SCHEDULE A
Listing of Investment Funds
▇.▇. ▇▇▇▇▇▇ Quality Bond Fund
▇.▇. ▇▇▇▇▇▇ Small Cap Stock
▇.▇. ▇▇▇▇▇▇ Enhanced Index
▇.▇. ▇▇▇▇▇▇ Select Equity
▇.▇. ▇▇▇▇▇▇ International Equity
Lord ▇▇▇▇▇▇ Bond Debenture
Lord ▇▇▇▇▇▇ Mid-Cap Value
Lord ▇▇▇▇▇▇ Developing Growth
Lord ▇▇▇▇▇▇ Growth and Income
Lord ▇▇▇▇▇▇ Growth Opportunities
Firstar Balanced
Firstar Equity Income
Firstar Growth and Income
BlackRock Equity
BlackRock U.S. Government Income
PIMCO Total Return
PIMCO Money Market
PIMCO Innovation
MFS Mid Cap Growth
MFS Research International
Met/▇▇▇▇▇▇ Research
Janus Aggressive Growth
▇▇▇▇▇▇▇▇▇▇▇ Capital Appreciation
Met/AIM Mid Cap Equity
Met/AIM Small Cap Growth
State Street Research Concentrated International
STATE STREET BANK AND TRUST COMPANY
FUND ADMINISTRATION COMPLEX FEE SCHEDULE
FOR
MET INVESTORS SERIES TRUST
I. FEES FOR FUND ADMINISTRATION SERVICES:
The following fee schedule is for full-administration services for Met
Investors Series Trust. These services include: Daily Accounting
Oversight, IRS / SEC Compliance, Financial Reporting, Expense Budgeting
& ▇▇▇▇ Processing, Board Reporting, Tax Reporting, Blue Sky and Legal
support, as described in the Administration Agreement. For these
services the Funds will be charged according to the following fee
schedule:
Annual Fee
Average Assets Expressed in Basis Points: 1/100 of 1%
------------------ --------------------------------------
First $100 Million / Fund 5.00
Next $100 Million / Fund 2.00
Thereafter 1.00
Minimum / Fund $50,000
For each additional fund beyond the original 23 funds, Fund
Administration will waive the fund minimum fee until the new funds have
completed their first 12 months of operations. If any such additional
fund is closed or if this Agreement is terminated with respect to such
additional fund, in either case within three (3) years of such
additional Investment Fund being added to the list of Investment Funds
on Schedule A, then such additional fund shall repay any previously
waived minimum fees to the Administrator.
Fund Fees:
Fees will be calculated by multiplying each average asset break point
in the above schedule by the total number of funds only to determine
the break points used in the schedule (i.e., 23 funds at $100 million
or $2.3 billion at 5.00 basis points etc...). Total net assets of all
Funds will be used to calculate the fee by multiplying the net assets
of the Funds by the basis point fees in the above schedule. The minimum
fee will be calculated by multiplying the minimum fee by the number of
Funds to arrive at the total minimum fee. The greater of the basis
point fee or the total minimum fee will be accrued to each Fund based
on the pro-rata total net asset value of each Fund.
II. Multiple Classes of Shares
An additional annual fee will be applied for certain classes based on
the following table:
First class of shares $ 0
Second class of shares $10,000
Thereafter $ 5,000
III. OUT OF POCKET EXPENSES - Include, But May Not Be Limited To:
o Legal fees, audit fees and other professional fees
o Postage and supplies related to Fund records
o Travel and lodging for Board and Operations meetings
o Preparation of financial statements other than Annual and Semi-Annual
Reporting, $3,000 per financial report.
IV. SPECIAL ARRANGEMENTS
Fees for activities of a non-recurring nature such as reorganizations,
and/or preparation of special reports will be subject to negotiation.
Fees for a change in fund structure (i.e., Core and Feeder) are subject
to negotiation.
V. TERM OF THE CONTRACT
The parties agree that this fee schedule shall remain in effect until
December 31, 2002 and from year to year thereafter until it is revised
as a result of negotiations initiated by either party.
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MET INVESTORS SERIES TRUST STATE STREET BANK AND TRUST COMPANY
BY: ____________________________ By: __________________________
Name: ▇▇▇▇▇▇▇▇▇ ▇. Forget Name: ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Title: President Title: Executive Vice President
Date: Date:
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