EX-99.(13)(A)(2) 5 dex9913a2.htm AMENDMENT NO. 1 TO ADMINISTRATIVE SERVICES AGREEMENT Amendment No. 1 to Administrative Services Agreement

AMENDMENT NO. 1 TO

ADMINISTRATIVE SERVICES AGREEMENT

THIS AMENDMENT NO. 1 TO ADMINISTRATIVE SERVICES AGREEMENT, dated as of February 28, 2011 (this “Amendment”), by and among Columbia Management Investment Advisers, LLC (the “Investment Manager”), a Minnesota limited liability company, and Columbia Funds Series Trust I and Columbia Funds Variable Insurance Trust (the “Registrants”), each a Massachusetts business trust, on behalf of their respective underlying series listed in Schedule A to the Administrative Services Agreement, dated as of May 1, 2010, as amended from time to time (the “Agreement”). Capitalized terms used herein but not defined herein shall have the meanings given to such terms in the Agreement.

WHEREAS, the parties have agreed to modify the fee rates payable under the Agreement for certain Funds, which modifications have previously been approved by the Registrant’s Board of Trustees, and these fee rate changes will become effective on different dates; and

WHEREAS, the parties wish to modify Schedule B to reflect the new fee rates and the dates on which such fee rates will become effective;

NOW, THEREFORE, in consideration of the promises and for other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the parties hereto agree as follows:

SECTION 1. AMENDMENT

 

  1.1 Schedule B. Effective as of the date hereof, Schedule B to the Agreement shall be replaced with Schedule B hereto.

SECTION 2. MISCELLANEOUS.

 

  2.1. Execution in Counterparts. This Amendment may be executed by the parties hereto in multiple counterparts, each of which shall be deemed to be an original and all of which together shall constitute one and the same agreement.

 

  2.2. Governing Law. This Amendment shall be governed by the internal laws, and not by the laws regarding conflicts of laws, of the Commonwealth of Massachusetts. Each party hereby submits to the exclusive jurisdiction of the courts of such state, and waives any objection to venue with respect to actions brought in such courts.

 

  2.3. Successors and Assigns. This Amendment shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns.

 

  2.4. Notice. This Amendment is executed by an officer of the Registrants, as an officer and not individually, and the obligations of this Amendment with respect to the Funds shall be binding upon the assets and properties of the Funds only and shall not be binding upon any of the trustees, officers, employees, agents or shareholders of the Funds individually.

(Signature Page Follows)

IN WITNESS THEREOF, the parties hereto have executed the foregoing Agreement as of the day and year first above written.

 

COLUMBIA FUNDS SERIES TRUST I
COLUMBIA FUNDS VARIABLE INSURANCE TRUST
By:   /s/ Michael G. Clarke
Name:   Michael G. Clarke
Title:   Chief Financial Officer
COLUMBIA MANAGEMENT INVESTMENT ADVISERS, LLC
By:   /s/ J. Kevin Connaughton
Name:   J. Kevin Connaughton
Title:   Senior Vice President

Schedule B

Fee Schedule

Effective as of May 1, 2010, except as otherwise noted

COLUMBIA FUNDS SERIES TRUST I

 

Fund Name

    Annual Fee
Rate		   Fund Average
Daily Net Assets
(millions)

Columbia Asset Allocation Fund

    0.067%   On all assets

Columbia Balanced Fund*

    N/A  

Columbia Blended Equity Fund*1

    0.150%   On all assets

Columbia Bond Fund*1

    0.150%   On all assets

Columbia California Tax-Exempt Fund*

    N/A  

Columbia Contrarian Core Fund*

    0.067%   On all assets

Columbia Connecticut Intermediate Municipal Bond Fund*

    0.067%   On all assets

Columbia Connecticut Tax-Exempt Fund*

    N/A  

Columbia Conservative High Yield Fund

    N/A  

Columbia Core Bond Fund

    0.067%   On all assets

Columbia Corporate Income Fund*

    0.150%

0.125%

0.100%

   On the first $100 of assets

On the next $900 of assets

On assets over $1,000

Columbia Disciplined Value Fund

    0.067%   On all assets

Columbia Dividend Income Fund*

    0.067%   On all assets

Columbia Emerging Markets Fund*1

    0.200%   On all assets

Columbia Energy and Natural Resources Fund*1

    0.150%   On all assets

Columbia Federal Securities Fund

    N/A  

Columbia Greater China Fund*

    N/A  

Columbia High Yield Municipal Fund*

    0.150%

0.125%

0.100%

   On the first $100 of assets

On the next $100 of assets

On assets over $200

Columbia High Yield Opportunity Fund*

    N/A  

Columbia Intermediate Bond Fund*

    0.150%   On all assets

Columbia Intermediate Municipal Bond Fund*

    0.067%   On all assets

Columbia International Bond Fund*

    0.050%   On all assets

Columbia International Growth Fund1

    0.200%   On all assets

Columbia International Stock Fund

    N/A  

Columbia Large Cap Growth Fund*

    0.050%   On all assets

Columbia Liberty Fund

    N/A  

Columbia Massachusetts Intermediate Municipal Bond Fund*

    0.067%   On all assets

Columbia Massachusetts Tax-Exempt Fund*

    N/A  

Columbia Mid Cap Growth Fund*

    N/A  

Columbia Mid Cap Core Fund1

    0.150%   On all assets

Columbia New Jersey Intermediate Municipal Bond Fund

    0.067%   On all assets

Columbia New York Intermediate Municipal Bond Fund*

    0.067%   On all assets

Columbia New York Tax-Exempt Fund*

    N/A  

Columbia Oregon Intermediate Municipal Bond Fund*

    N/A  

Columbia Pacific/Asia Fund*1

    0.200%   On all assets

Columbia Real Estate Equity Fund*

    N/A  

Columbia Rhode Island Intermediate Municipal Bond Fund

    0.067%   On all assets

Columbia Select Large Cap Growth Fund*1

    0.150%   On all assets

Columbia Select Opportunities Fund1

    0.150%   On all assets

Columbia Select Small Cap Fund*1

    0.150%   On all assets

Columbia Short-Intermediate Bond Fund1

    0.150%   On all assets

Columbia Small Cap Core Fund*

    0.067%   On all assets

Columbia Small Cap Growth Fund I*

    N/A  

Columbia Small Cap Value Fund I*

    N/A  

Columbia Strategic Income Fund*

    N/A  

Columbia Strategic Investor Fund*

    0.150%

0.125%

   On the first $1,000 of assets

On assets over $1,000

Columbia Tax-Exempt Fund*

    N/A  

Columbia Technology Fund

    N/A  

Columbia U.S. Treasury Index Fund2

    0.300%   On all assets

Columbia Value and Restructuring Fund*1

    0.150%   On all assets

Columbia World Equity Fund

    0.250%   On all assets

CMG Ultra Short Term Bond Fund3

    N/A  

COLUMBIA FUNDS VARIABLE INSURANCE TRUST

 

Fund Name

    Annual Fee
Rate		   Fund Average
Daily Net Assets
(millions)

Columbia Asset Allocation Fund, Variable Series*

    0.150%   On all assets

Columbia Federal Securities Fund, Variable Series

    0.150%   On all assets

Columbia International Fund, Variable Series

    N/A  

Columbia Large Cap Growth Fund, Variable Series*

    0.150%   On all assets

Columbia Large Cap Value Fund, Variable Series

    N/A  

Columbia Mid Cap Value Fund, Variable Series

    N/A  

Columbia Money Market Fund, Variable Series

    0.150%   On all assets

Columbia S&P 500 Index Fund, Variable Series

    N/A  

Columbia Select Large Cap Growth Fund, Variable Series*

    0.150%   On all assets

Columbia Small Cap Value Fund, Variable Series*

    N/A  

Columbia Small Company Growth Fund, Variable Series*

    0.150%   On all assets

Columbia Strategic Income Fund, Variable Series*

    N/A  

 

1 

For services rendered pursuant to this Agreement, the Trust will pay the Administrator an administration fee, computed daily and payable monthly, calculated at the annual rate of a Fund’s daily net assets listed adjacent to such Fund under the caption “Annual Fee Rate” in the above table; provided that the amount so paid by such Fund in any period shall be reduced by the amount paid by such Fund to State Street Bank and Trust Company (“State Street”) pursuant to the Accounting Services Agreement and the Financial Reporting Services Agreement during such period (excluding amounts paid to State Street as reimbursement for out-of-pocket expenses and charges, including fees payable to third parties, such as for pricing the Fund’s portfolio securities, incurred in the performance of services by State Street under such agreements).

2 

The Administrator pays all operating expenses of the Fund with the exception of brokerage fees and expenses, taxes, interest, fees and expenses of Trustees who are not officers, directors or employees of the Administrator or its affiliates, and any extraordinary non-recurring expenses that may arise, including, but not limited to, litigation expenses.

3 

In accordance with the Fund’s investment advisory contract, the Administrator pays all operating costs and expenses of the Fund (other disinterested trustees fees and expenses, including their legal counsel, auditing expenses, interest incurred on borrowing by the Fund, if any, portfolio transaction expenses, taxes and extraordinary expenses of the Fund) including custodian fees, transfer agent fees, legal fees for the Fund, accounting expenses (other than auditing fees), and governmental fees, cost of stock certificates, and any other expenses (including clerical expenses) of issue, sale, repurchase, or redemption of shares, expenses of registering or qualifying shares for sale, transfer taxes, and all expenses of preparing the Fund’s registration statement and prospectus, and the cost of printing and delivering to shareholders prospectuses and reports, all executive salaries and executive expenses, office rent of the Fund, ordinary office expenses (other than the expense of clerical services relating to the administration of the Fund), and for any other expenses that, if otherwise borne by the Fund, would cause the Fund to “be deemed to be acting as a distributor of securities of which it is the issuer, other than through an underwriter” pursuant to Rule 12b-1 under the Investment Company Act of 1940, as amended.

* Effective as of the dates indicated below, the fee rate(s) for the indicated Funds will be as set forth below:

Schedule I

 

FUNDS

    ASSET LEVELS (IN MILLIONS) AND BREAKPOINTS IN APPLICABLE  FEES(1)     EFFECTIVE
DATE
   $0 - $500     >$500- $1,000     >$1,000 - $3,000     >$3,000 - $12,000     >$12,000    

Columbia Balanced Fund

      0.060 %      0.055 %      0.050 %      0.040 %      0.030 %    March 1, 2011

Columbia Bond Fund

      0.070 %      0.065 %      0.060 %      0.050 %      0.040 %    March 1, 2011

Columbia Contrarian Core Fund

      0.060 %      0.055 %      0.050 %      0.040 %      0.030 %    March 1, 2011

Columbia Corporate Income Fund

      0.070 %      0.065 %      0.060 %      0.050 %      0.040 %    July 1, 2011

Columbia Dividend Income Fund

      0.060 %      0.055 %      0.050 %      0.040 %      0.030 %    July 1, 2011

Columbia High Yield Municipal Fund

      0.070 %      0.065 %      0.060 %      0.050 %      0.040 %    July 1, 2011

Columbia High Yield Opportunity Fund

      0.070 %      0.065 %      0.060 %      0.050 %      0.040 %    July 1, 2011

Columbia Intermediate Bond Fund

      0.070 %      0.065 %      0.060 %      0.050 %      0.040 %    March 1, 2011

Columbia Intermediate Municipal Bond Fund

      0.070 %      0.065 %      0.060 %      0.050 %      0.040 %    March 1, 2011

Columbia International Bond Fund

      0.080 %      0.075 %      0.070 %      0.060 %      0.050 %    July 1, 2011

Columbia Large Cap Growth Fund

      0.060 %      0.055 %      0.050 %      0.040 %      0.030 %    April 1, 2011

Columbia Mid Cap Growth Fund

      0.060 %      0.055 %      0.050 %      0.040 %      0.030 %    April 1, 2011

Columbia Select Large Cap Growth Fund

      0.060 %      0.055 %      0.050 %      0.040 %      0.030 %    July 1, 2011

Columbia Select Large Cap Growth Fund, Variable Series

      0.060 %      0.055 %      0.050 %      0.040 %      0.030 %    May 1, 2011

Columbia Select Small Cap Fund

      0.080 %      0.075 %      0.070 %      0.060 %      0.050 %    July 1, 2011

Columbia Small Cap Core Fund

      0.080 %      0.075 %      0.070 %      0.060 %      0.050 %    July 1, 2011

Columbia Small Cap Growth Fund I

      0.080 %      0.075 %      0.070 %      0.060 %      0.050 %    March 1, 2011

Columbia Small Cap Value Fund I

      0.080 %      0.075 %      0.070 %      0.060 %      0.050 %    April 30, 2011

Columbia Small Cap Value Fund, Variable Series

      0.080 %      0.075 %      0.070 %      0.060 %      0.050 %    May 1, 2011

Columbia Small Company Growth Fund, Variable Series

      0.080 %      0.075 %      0.070 %      0.060 %      0.050 %    May 1, 2011

FUNDS

    ASSET LEVELS (IN MILLIONS) AND BREAKPOINTS IN APPLICABLE  FEES(1)     EFFECTIVE
DATE
   $0 - $500     >$500- $1,000     >$1,000 - $3,000     >$3,000 - $12,000     >$12,000    

Columbia Strategic Income Fund

      0.070 %      0.065 %      0.060 %      0.050 %      0.040 %    May 1, 2011

Columbia Strategic Income Fund, Variable Series

      0.070 %      0.065 %      0.060 %      0.050 %      0.040 %    April 30, 2011

Columbia Strategic Investor Fund

      0.060 %      0.055 %      0.050 %      0.040 %      0.030 %    March 1, 2011

Columbia Tax-Exempt Fund

      0.070 %      0.065 %      0.060 %      0.050 %      0.040 %    March 1, 2011

Schedule II

 

FUNDS

    ASSET LEVELS (IN MILLIONS) AND BREAKPOINTS IN APPLICABLE  FEES(1)     EFFECTIVE
DATE
   $0 - $250     >$250-$1,000     >$1,000 - $3,000     >$3,000- $12,000     >$12,000    

Columbia California Tax-Exempt Fund

      0.070 %      0.065 %      0.060 %      0.050 %      0.040 %    March 1, 2011

Columbia Connecticut Intermediate Municipal Bond Fund

      0.070 %      0.065 %      0.060 %      0.050 %      0.040 %    March 1, 2011

Columbia Connecticut Tax-Exempt Fund

      0.070 %      0.065 %      0.060 %      0.050 %      0.040 %    March 1, 2011

Columbia Massachusetts Intermediate Municipal Bond Fund

      0.070 %      0.065 %      0.060 %      0.050 %      0.040 %    March 1, 2011

Columbia Massachusetts Tax-Exempt Fund

      0.070 %      0.065 %      0.060 %      0.050 %      0.040 %    March 1, 2011

Columbia New York Intermediate Municipal Bond Fund

      0.070 %      0.065 %      0.060 %      0.050 %      0.040 %    March 1, 2011

Columbia New York Tax-Exempt Fund

      0.070 %      0.065 %      0.060 %      0.050 %      0.040 %    March 1, 2011

Columbia Oregon Intermediate Municipal Bond Fund

      0.070 %      0.065 %      0.060 %      0.050 %      0.040 %    July 1, 2011

Schedule III

 

FUNDS

    FEE RATES ON ALL ASSETS(1)     EFFECTIVE DATE

Columbia Asset Allocation Fund, Variable Series

      0.020 %    May 1, 2011

Schedule IV

 

FUNDS

    ASSET LEVELS (IN MILLIONS) AND BREAKPOINTS IN APPLICABLE  FEES(1)     EFFECTIVE DATE
   $0 - $500     >$500 - $1,000     >$1,000 - $3,000     >$3,000    

Columbia Real Estate Equity Fund

      0.060 %      0.055 %      0.050 %      0.040 %    March 1, 2011

Schedule V

 

FUNDS

    ASSET LEVELS (IN MILLIONS) AND BREAKPOINTS IN APPLICABLE  FEES(1)     EFFECTIVE DATE
   $0 - $1,000     >$1,000-$3,000     >$3,000    

Columbia Energy and Natural Resources Fund

      0.060 %      0.050 %      0.040 %    May 1, 2011

Columbia Pacific/Asia Fund

      0.80 %      0.70 %      0.60 %    July 1, 2011

Schedule VI

 

FUNDS

    ASSET LEVELS (IN MILLIONS) AND BREAKPOINTS IN APPLICABLE  FEES(1)     EFFECTIVE
DATE
   $0 - $8,000     >$8,000- $10,000     >$10 ,000- $12,000     >$12 ,000    

Columbia Value and Restructuring Fund

      0.060 %      0.055 %      0.040 %      0.030 %    July 1, 2011

Schedule VII

 

FUNDS

    ASSET LEVELS (IN MILLIONS) AND BREAKPOINTS IN APPLICABLE  FEES(1)     EFFECTIVE
DATE
   $0 - $750     >$750- $1,000     >$1 ,000 - $3,000     >$3 ,000    

Columbia Emerging Markets Fund

      0.080 %      0.075 %      0.070 %      0.060 %    July 1, 2011

Schedule VIII

 

FUNDS

    ASSET LEVELS (IN MILLIONS) AND BREAKPOINTS IN APPLICABLE  FEES(1)     EFFECTIVE
DATE
   $0 - $1,000     >$1,000-$1,500     >$1,500 - $3,000     >$3,000 - $6,000     >$6,000    

Columbia Greater China Fund

      0.080 %      0.070 %      0.060 %      0.050 %      0.040 %    July 1, 2011

 

(1) Annual rates based on a percentage of the Fund’s average daily net assets.