EX-99.H 5 ex99-h12.txt AMENDMENT, DATED NOVEMBER 10, 2003 TO SERVICE AGREEMENT BETWEEN RYDEX SERIES FUNDS AND RYDEX FUND SERVICES, INC., DATED SEPTEMBER 25, 1996, AS AMENDED AMENDMENT TO SERVICE AGREEMENT BETWEEN RYDEX SERIES FUNDS AND RYDEX FUND SERVICES, INC. The following Amendment is made to Section 4 of the Service Agreement between the Trust and the Servicer, and is hereby incorporated into and made a part of the Service Agreement: Section 4 of the Service Agreement is amended, effective November 10, 2003, to read as follows: "As consideration for the services provided hereunder, the Trust will pay the Servicer a fee on the last day of each month in which this Agreement is in effect, at the following annual rates based on the average daily net assets (the "Assets") of each of the Trust's series for such month: The Rydex U.S. Government Bond Fund 0.20% of Assets The Rydex U.S. Government Money Market Fund 0.20% of Assets The Nova Fund 0.25% of Assets The Ursa Fund 0.25% of Assets The Arktos Fund 0.25% of Assets The Juno Fund 0.25% of Assets The Nova Master Fund 0.0% of Assets The OTC Master Fund 0.0% of Assets The Ursa Master Fund 0.0% of Assets The Arktos Master Fund 0.0% of Assets The Juno Master Fund 0.0% of Assets The Medius Master Fund 0.0% of Assets The Utilities Master Fund 0.0% of Assets The Rydex OTC Fund 0.25% of Assets The Large-Cap Europe Fund 0.25% of Assets The Large-Cap Japan Fund 0.25% of Assets The Mekros Fund 0.25% of Assets The Medius Fund 0.25% of Assets THE LARGE-CAP VALUE FUND 0.25% OF ASSETS THE LARGE-CAP GROWTH FUND 0.25% OF ASSETS THE MID-CAP VALUE FUND 0.25% OF ASSETS THE MID CAP GROWTH FUND 0.25% OF ASSETS THE INVERSE-MID CAP FUND 0.25% OF ASSETS THE SMALL-CAP VALUE FUND 0.25% OF ASSETS THE SMALL-CAP GROWTH FUND 0.25% OF ASSETS THE INVERSE-SMALL CAP FUND 0.25% OF ASSETS The All-Cap Value Fund 0.25% of Assets The Rydex Banking Fund 0.25% of Assets The Rydex Basic Materials Fund 0.25% of Assets The Rydex Biotechnology Fund 0.25% of Assets The Rydex Consumer Products Fund 0.25% of Assets The Rydex Electronics Fund 0.25% of Assets The Rydex Energy Fund 0.25% of Assets The Rydex Energy Service Fund 0.25% of Assets The Rydex Financial Services Fund 0.25% of Assets The Rydex Health Care Fund 0.25% of Assets The Rydex Internet Fund 0.25% of Assets The Rydex Leisure Fund 0.25% of Assets The Rydex Precious Metals Fund 0.25% of Assets The Real Estate Fund 0.25% of Assets The Rydex Retailing Fund 0.25% of Assets The Rydex Technology Fund 0.25% of Assets The Sector Rotation Fund 0.25% of Assets THE CORE EQUITY FUND 0.25% OF ASSETS The Rydex Telecommunications Fund 0.25% of Assets The Rydex Transportation Fund 0.25% of Assets The Rydex Utilities Fund 0.25% of Assets ADDITIONS and [DELETIONS] are noted in BOLD. In the event that this Agreement commences on a date other than on the beginning of any calendar month, or if this Agreement terminates on a date other than the end of any calendar month, the fees payable hereunder by the Trust shall be proportionately reduced according to the number of days during such month that services were not rendered hereunder by the Servicer." In witness whereof, the parties hereto have caused this Amendment to be executed in their names and on their behalf and through their duly-authorized officers as of the 10th day of November, 2003. RYDEX SERIES FUNDS /s/ Albert P. Viragh Jr ------------------------------- By: Albert P. Viragh, Jr. Title: President RYDEX FUND SERVICES, INC. /s/ Albert P. Viragh Jr. ------------------------------- By: Albert P. Viragh, Jr. Title: President