EX-99.(H)(I)(M)(3) 3 fndadmin_agrmt.htm AMENDMENT TO THE FUND ADMINISTRATION SERVICING AGREEMENT ON BEHALF OF THE VILLERE FUNDS fndadmin_agrmt.htm

 
 
AMENDMENT TO THE
PROFESSIONALLY MANAGED PORTFOLIOS
FUND ADMINISTRATION SERVICING AGREEMENT


THIS AMENDMENT dated as of the 13th day of September, 2013, to the Fund Administration Servicing Agreement, dated as of June 22, 2006, as amended (the "Fund Administration Agreement"), is entered into by and between Professionally Managed Portfolios, a Massachusetts business trust (the "Trust") on behalf of its separate series, the Villere Funds and U.S. Bancorp Fund Services, LLC, a Wisconsin limited liability company (“USBFS").

RECITALS

WHEREAS, the parties have entered into a Fund Administration Agreement; and

WHEREAS, the parties desire to amend the fees; and

WHEREAS, Section 10 of the Fund Administration Agreement allows for its amendment by a written instrument executed by both parties.

NOW, THEREFORE, the parties agree as follows:

Amended Exhibit N to the Fund Administration Agreement is hereby superseded and replaced with Amended Exhibit N attached hereto.

Except to the extent amended hereby, the Fund Administration Agreement shall remain in full force and effect.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by a duly authorized officer on one or more counterparts as of the date and year first written above.

PROFESSIONALLY MANAGED PORTFOLIOS  U.S. BANCORP FUND SERVICES, LLC


PROFESSIONALLY MANAGED PORTFOLIOS
U.S. BANCORP FUND SERVICES, LLC
   
By:   /s/ Elaine E. Richards
By:   /s/ Michael R. McVoy
   
Name: Elaine E. Richards
Name: Michael R. McVoy
   
Title:   President
Title:   Executive Vice President
 


 
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Amended Exhibit N
to the PMP Fund Administration Servicing Agreement


Name of Series
Date Added
Villere Balanced Fund
 
Villere Equity Fund
On or after May 31, 2013
 


FUND ADMINISTRATION & COMPLIANCE SERVICES
ANNUAL FEE SCHEDULE at October 1, 2013
 
Domestic Funds
 
Annual fee based upon assets per fund*
¨  [  ] basis points on the first $[  ] million
¨  [  ] basis points on the next $[  ] million
¨  [  ] basis points on the balance
¨ Minimum annual fee:  $[  ] per fund
 
 
 
Multiple Classes
Additional $[  ] per year per class-waived
 
 
 
Chief Compliance Officer Annual Fees (Per Advisor Relationship/Fund)*
¨  $[  ] per fund (subject to change based on Board review and approval)
 
 
 
Fees are billed monthly
 
* Subject to CPI increase.
 
 
Extraordinary Services
Quoted separately based upon requirements
 
 
Includes monthly fund performance reporting.  Daily performance reporting additional.
 
Plus out-of-pocket expenses, including but not limited to:
¨  Postage, Stationery
¨  Programming, Special Reports
¨  Daily Compliance Testing Systems Expense
¨  Proxies, Insurance
¨  EDGAR filing
¨  Retention of records
¨  Federal and state regulatory filing fees
¨  Certain insurance premiums
¨  Expenses from board of directors meetings
¨  SEC 15c Reporting
¨  Auditing and legal expenses
¨  Blue Sky conversion expenses (if necessary)
¨  All other out-of-pocket expenses
 


Advisor’s Signature below acknowledges approval of the fee schedule on this Amended Exhibit N.


ST. DENIS J. VILLERE & CO. LLC
 
Name:  /s/ George V. Young
 
Title:   Partner
 
Date:  9/19/13

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