Exhibit e(x) under Form N-1A
Exhibit 1 under Item 601/Reg. S-K
Exhibit M
to the
Distributor's Contract
INDEPENDENCE ONE MUTUAL FUNDS
INDEPENDENCE ONE EQUITY PLUS FUND
CLASS A SHARES
INDEPENDENCE ONE FIXED INCOME FUND
CLASS A SHARES
The following provisions are hereby incorporated and made part of the
Distributor's Contract dated September 26, 1991, between Independence One Mutual
Funds and Federated Securities Corp. with respect to the Class of shares set
forth above.
1. The Trust hereby appoints FSC to engage in activities principally intended to
result in the sale of shares of the above-listed Class ("Shares"). Pursuant to
this appointment, FSC is authorized to select a group of financial institutions
("Financial Institutions") to sell Shares at the current offering price thereof
as described and set forth in the respective prospectuses of the Trust.
2. During the term of this Agreement, the Trust will pay FSC for services
pursuant to this Agreement, a monthly fee computed at the annual rate of .25% of
the average aggregate net asset value of the Shares held during the month. For
the month in which this Agreement becomes effective or terminates, there shall
be an appropriate proration of any fee payable on the basis of the number of
days that the Agreement is in effect during the month.
3. FSC may from time-to-time and for such periods as it deems appropriate reduce
its compensation to the extent any Class' expenses exceed such lower expense
limitation as FSC may, by notice to the Trust, voluntarily declare to be
effective.
4. FSC will enter into separate written agreements with various firms to provide
certain of the services set forth in Paragraph 1 herein. FSC, in its sole
discretion, may pay Financial Institutions a periodic fee in respect of Shares
owned from time to time by their clients or customers. The schedules of such
fees and the basis upon which such fees will be paid shall be determined from
time to time by FSC in its sole discretion.
5. FSC will prepare reports to the Board of Trustees of the Trust on a quarterly
basis showing amounts expended hereunder including amounts paid to Financial
Institutions and the purpose for such expenditures.
In consideration of the mutual covenants set forth in the Distributor's
Contract dated September 26, 1991 between Independence One Mutual Funds and
Federated Securities Corp., Independence One Mutual Funds executes and delivers
this Exhibit on behalf of the Independence One Equity Plus Fund and Independence
One Fixed Income Fund, and with respect to the Class A Shares thereof, first set
forth in this Exhibit.
Witness the due execution hereof this 1st day of March, 2000.
INDEPENDENCE ONE MUTUAL FUNDS
By: /S/ JEFFREY W. STERLING
---------------------------------
Name: Jeffrey W. Sterling
Title: Vice President
FEDERATED SECURITIES CORP.
By: /S/ DAVID M. TAYLOR
---------------------------------
Name: David M. Taylor
Title: Executive Vice President
Exhibit N
to the
Distributor's Contract
INDEPENDENCE ONE MUTUAL FUNDS
INDEPENDENCE ONE FIXED INCOME FUND
CLASS B SHARES
The following provisions are hereby incorporated and made part of the
Distributor's Contract dated September 26, 1991, between Independence One Mutual
Funds and Federated Securities Corp. with respect to the Class of shares set
forth above.
1. The Trust hereby appoints FSC to engage in activities principally intended
to result in the sale of shares of the above-listed Class ("Shares"). Pursuant
to this appointment, FSC is authorized to select a group of financial
institutions ("Financial Institutions") to sell Shares at the current offering
price thereof as described and set forth in the respective prospectuses of the
Trust.
2. During the term of this Agreement, the Trust will pay FSC for services
pursuant to this Agreement, a monthly fee computed at the annual rate of .75% of
the average aggregate net asset value of the Shares held during the month. For
the month in which this Agreement becomes effective or terminates, there shall
be an appropriate proration of any fee payable on the basis of the number of
days that the Agreement is in effect during the month.
3. FSC may from time-to-time and for such periods as it deems appropriate
reduce its compensation to the extent any Class' expenses exceed such lower
expense limitation as FSC may, by notice to the Trust, voluntarily declare to be
effective.
4. FSC will enter into separate written agreements with various firms to
provide certain of the services set forth in Paragraph 1 herein. FSC, in its
sole discretion, may pay Financial Institutions a periodic fee in respect of
Shares owned from time to time by their clients or customers. The schedules of
such fees and the basis upon which such fees will be paid shall be determined
from time to time by FSC in its sole discretion.
5. FSC will prepare reports to the Board of Trustees of the Trust on a
quarterly basis showing amounts expended hereunder including amounts paid to
Financial Institutions and the purpose for such expenditures.
In consideration of the mutual covenants set forth in the Distributor's
Contract dated September 26, 1991 between Independence One Mutual Funds and
Federated Securities Corp., Independence One Mutual Funds executes and delivers
this Exhibit on behalf of the Independence One Equity Plus Fund and Independence
One Fixed Income Fund, and with respect to the Class B Shares thereof, first set
forth in this Exhibit.
Witness the due execution hereof this 1st day of March, 2000.
INDEPENDENCE ONE MUTUAL FUNDS
By: /S/ JEFFREY W. STERLING
---------------------------------
Name: Jeffrey W. Sterling
Title: Vice President
FEDERATED SECURITIES CORP.
By: /S/ DAVID M. TAYLOR
---------------------------------
Name: David M. Taylor
Title: Executive Vice President
