Common use of Global Custody Network Review Clause in Contracts

Global Custody Network Review. (annually) Information relating to the operating history and structure of depositories and subcustodians located in the markets in which State Street Bank and Trust Company offers custodial services, including transnational depositories. Global Legal Survey (annually) With respect to each market in which State Street Bank and Trust Company offers custodial services, opinions relating to whether local law restricts (i) access of a fund’s independent public accountants to books and records of a Foreign Sub- Custodian or Foreign Securities System, (ii) the Fund’s ability to recover in the event of bankruptcy or insolvency of a Foreign Sub-Custodian or Foreign Securities System, (iii) the Fund’s ability to recover in the event of a loss by a Foreign Sub- Custodian or Foreign Securities System, and (iv) the ability of a foreign investor to convert cash and cash equivalents to U.S. dollars. Subcustodian Agreements (annually) Copies of the subcustodian contracts State Street Bank and Trust Company has entered into with each subcustodian in the markets in which State Street Bank and Trust Company offers subcustody services to its US mutual fund clients. Network Bulletins (weekly): Developments of interest to investors in the markets in which State Street Bank and Trust Company offers custodial services. Foreign Custody Advisories (as necessary): With respect to markets in which State Street Bank and Trust Company offers custodial services which exhibit special custody risks, developments which may impact State Street’s ability to deliver expected levels of service. January 16, 2004 PIMCO Advisors Attn: Xxxx Xxxxxxxx 000 Xxxxxxx Xxxxxx Xx., Xxx. 000 Xxxxxxx Xxxxx, XX 00000 RE: Custody and Investment Accounting Agreements with State Street Bank and Trust Company as referenced on Attachment A hereto (the “Custody Agreements”) Xxxx: This letter will follow up our recent discussions about PIMCO’s intraday overdraft activity. As you know, in each of the Custody Agreements, the contracting PIMCO entity grants (in Section 3) State Street a lien on the assets subject to the Custody Agreement as security for any advance of cash or securities made by State Street, with the ability to utilize cash and dispose of assets to satisfy any unpaid advances and related charges. However, each of the Custody Agreements also includes certain language (the “Lien Limitation”) which requires, prior to the exercise of its lien rights, that:

Global Custody Network Review. (annually) Information relating to the operating history and structure of depositories and subcustodians located in the markets in which State Street Bank and Trust Company offers custodial services, including transnational depositories. Global Legal Survey (annually) With respect to each market in which State Street Bank and Trust Company offers custodial services, opinions relating to whether local law restricts (i) access of a fund’s independent public accountants to books and records of a Foreign Sub- Sub-Custodian or Foreign Securities System, (ii) the Fund’s ability to recover in the event of bankruptcy or insolvency of a Foreign Sub-Custodian or Foreign Securities System, (iii) the Fund’s ability to recover in the event of a loss by a Foreign Sub- Sub-Custodian or Foreign Securities System, and (iv) the ability of a foreign investor to convert cash and cash equivalents to U.S. dollars. Subcustodian Agreements (annually) Copies of the subcustodian contracts State Street Bank and Trust Company has entered into with each subcustodian in the markets in which State Street Bank and Trust Company offers subcustody services to its US mutual fund clients. Network Bulletins (weekly): Developments of interest to investors in the markets in which State Street Bank and Trust Company offers custodial services. Foreign Custody Advisories (as necessary): With respect to markets in which State Street Bank and Trust Company offers custodial services which exhibit special custody risks, developments which may impact State Street’s ability to deliver expected levels of service. January 16, 2004 PIMCO Advisors Attn: Xxxx Xxxxxxxx 000 Xxxxxxx Xxxxxx Xx., Xxx. 000 Xxxxxxx Xxxxx, XX 00000 RE: Custody and Investment Accounting Agreements with State Street Bank and Trust Company as referenced on Attachment A hereto (the “Custody Agreements”) Xxxx: This letter will follow up our recent discussions about PIMCO’s intraday overdraft activity. As you know, in each of the Custody Agreements, the contracting PIMCO entity grants (in Section 3) State Street a lien on the assets subject to the Custody Agreement as security for any advance of cash or securities made by State Street, with the ability to utilize cash and dispose of assets to satisfy any unpaid advances and related charges. However, each of the Custody Agreements also includes certain language (the “Lien Limitation”) which requires, prior to the exercise of its lien rights, that:

Global Custody Network Review. (annually) Information relating to the operating history and structure of depositories and subcustodians located in the markets in which State Street Bank and Trust Company offers custodial services, including transnational depositories. Global Legal Survey (annually) With respect to each market in which State Street Bank and Trust Company offers custodial services, opinions relating to whether local law restricts (i) access of a fund’s independent public accountants to books and records of a Foreign Sub- Sub-Custodian or Foreign Securities System, (ii) the Fund’s ability to recover in the event of bankruptcy or insolvency of a Foreign Sub-Custodian or Foreign Securities System, (iii) the Fund’s ability to recover in the event of a loss by a Foreign Sub- Sub-Custodian or Foreign Securities System, and (iv) the ability of a foreign investor to convert cash and cash equivalents to U.S. dollars. Subcustodian Agreements (annually) Copies of the subcustodian contracts State Street Bank and Trust Company has entered into with each subcustodian in the markets in which State Street Bank and Trust Company offers subcustody services to its US mutual fund clients. Network Bulletins (weekly): Developments of interest to investors in the markets in which State Street Bank and Trust Company offers custodial services. Foreign Custody Advisories (as necessary): With respect to markets in which State Street Bank and Trust Company offers custodial services which exhibit special custody risks, developments which may impact State Street’s ability to deliver expected levels of service. January 16Amended as of May 1, 2004 PIMCO Advisors Attn: Xxxx Xxxxxxxx 000 Xxxxxxx 20131 ENTITY AND SERIES TYPE OF ENTITY JURISDICTION Lord Xxxxxx Xx.Affiliated Fund, Xxx. 000 Xxxxxxx XxxxxInc. Corporation Maryland Lord Xxxxxx Bond-Debenture Fund, XX 00000 RE: Custody and Inc. Corporation Maryland Lord Xxxxxx Developing Growth Fund, Inc. Corporation Maryland Lord Xxxxxx Equity Trust Statutory Trust Delaware Lord Xxxxxx Calibrated Large Cap Value Fund Lord Xxxxxx Calibrated Mid Cap Fund Value Fund Lord Xxxxxx Small-Cap Blend Fund Lord Xxxxxx Global Fund, Inc. Corporation Maryland Lord Xxxxxx Emerging Markets Currency Fund Lord Xxxxxx Emerging Markets Local Bond Fund Lord Xxxxxx Global Allocation Fund Lord Xxxxxx Investment Accounting Agreements with State Street Bank and Trust Company as referenced on Attachment A hereto (the “Custody Agreements”) Xxxx: This letter will follow up our recent discussions about PIMCO’s intraday overdraft activity. As you knowStatutory Trust Delaware Lord Xxxxxx Balanced Strategy Fund Lord Xxxxxx Convertible Fund Lord Xxxxxx Core Fixed Income Fund Lord Xxxxxx Diversified Equity Strategy Fund Lord Xxxxxx Diversified Income Strategy Fund Lord Xxxxxx Floating Rate Fund Lord Xxxxxx Growth & Income Strategy Fund Lord Xxxxxx High Yield Fund Lord Xxxxxx Income Fund Lord Xxxxxx Inflation Focused Fund Lord Xxxxxx Short Duration Income Fund Lord Xxxxxx Total Return Fund Lord Xxxxxx Mid Cap Stock Fund, in each of the Custody AgreementsInc. Corporation Maryland Lord Xxxxxx Municipal Income Fund, the contracting PIMCO entity grants (in Section 3) State Street a lien on the assets subject to the Custody Agreement as security for any advance of cash or securities made by State StreetInc. Corporation Maryland Lord Xxxxxx AMT Free Municipal Bond Fund Lord Xxxxxx California Tax-Free Income Fund Lord Xxxxxx High Yield Municipal Bond Fund Lord Xxxxxx Intermediate Tax-Free Fund Lord Xxxxxx National Tax-Free Income Fund Lord Xxxxxx New Jersey Tax-Free Income Fund Lord Xxxxxx New York Tax-Free Income Fund Lord Xxxxxx Short Duration Tax Free Fund Lord Xxxxxx Research Fund, with the ability to utilize cash and dispose of assets to satisfy any unpaid advances and related charges. However, each of the Custody Agreements also includes certain language (the “Lien Limitation”) which requires, prior to the exercise of its lien rights, that:Inc. Corporation Maryland Lord Xxxxxx Calibrated Dividend Growth Fund Lord Xxxxxx Classic Stock Fund Lord Xxxxxx Growth Opportunities Fund Small-Cap Value Series Lord Xxxxxx Securities Trust Statutory Trust Delaware Lord Xxxxxx Alpha Strategy Fund Lord Xxxxxx Fundamental Equity Fund

Global Custody Network Review. (annually) Information relating to the operating history and structure of depositories and subcustodians located in the markets in which State Street Bank and Trust Company offers custodial services, including transnational depositories. Global Legal Survey (annually) With respect to each market in which State Street Bank and Trust Company offers custodial services, opinions relating to whether local law restricts (i) access of a fund’s independent public accountants to books and records of a Foreign Sub- Sub-Custodian or Foreign Securities System, (ii) the Fund’s ability to recover in the event of bankruptcy or insolvency of a Foreign Sub-Custodian or Foreign Securities System, (iii) the Fund’s ability to recover in the event of a loss by a Foreign Sub- Sub-Custodian or Foreign Securities System, and (iv) the ability of a foreign investor to convert cash and cash equivalents to U.S. dollars. Subcustodian Agreements (annually) Copies of the subcustodian contracts State Street Bank and Trust Company has entered into with each subcustodian in the markets in which State Street Bank and Trust Company offers subcustody services to its US mutual fund clients. Network Bulletins (weekly): Developments of interest to investors in the markets in which State Street Bank and Trust Company offers custodial services. Foreign Custody Advisories (as necessary): With respect to markets in which State Street Bank and Trust Company offers custodial services which exhibit special custody risks, developments which may impact State Street’s ability to deliver expected levels of service. January 16Amended as of October 28, 2004 PIMCO Advisors Attn: Xxxx Xxxxxxxx 000 Xxxxxxx 20131 ENTITY AND SERIES TYPE OF ENTITY JURISDICTION Lord Xxxxxx Xx.Affiliated Fund, Xxx. 000 Xxxxxxx XxxxxInc. Corporation Maryland Lord Xxxxxx Bond-Debenture Fund, XX 00000 RE: Custody and Inc. Corporation Maryland Lord Xxxxxx Developing Growth Fund, Inc. Corporation Maryland Lord Xxxxxx Equity Trust Statutory Trust Delaware Lord Xxxxxx Calibrated Large Cap Value Fund Lord Xxxxxx Calibrated Mid Cap Fund Value Fund Lord Xxxxxx Global Fund, Inc. Corporation Maryland Lord Xxxxxx Emerging Markets Corporate Debt Fund Lord Xxxxxx Emerging Markets Currency Fund Lord Xxxxxx Emerging Markets Local Bond Fund Lord Xxxxxx Global Allocation Fund Lord Xxxxxx Investment Accounting Agreements with State Street Bank and Trust Company as referenced on Attachment A hereto (the “Custody Agreements”) Xxxx: This letter will follow up our recent discussions about PIMCO’s intraday overdraft activity. As you knowStatutory Trust Delaware Lord Xxxxxx Balanced Strategy Fund Lord Xxxxxx Convertible Fund Lord Xxxxxx Core Fixed Income Fund Lord Xxxxxx Diversified Equity Strategy Fund Lord Xxxxxx Diversified Income Strategy Fund Lord Xxxxxx Floating Rate Fund Lord Xxxxxx Growth & Income Strategy Fund Lord Xxxxxx High Yield Fund Lord Xxxxxx Income Fund Lord Xxxxxx Inflation Focused Fund Lord Xxxxxx Short Duration Income Fund Lord Xxxxxx Total Return Fund Lord Xxxxxx Mid Cap Stock Fund, in each of the Custody AgreementsInc. Corporation Maryland Lord Xxxxxx Municipal Income Fund, the contracting PIMCO entity grants (in Section 3) State Street a lien on the assets subject to the Custody Agreement as security for any advance of cash or securities made by State StreetInc. Corporation Maryland Lord Xxxxxx AMT Free Municipal Bond Fund Lord Xxxxxx California Tax-Free Income Fund Lord Xxxxxx High Yield Municipal Bond Fund Lord Xxxxxx Intermediate Tax-Free Fund Lord Xxxxxx National Tax-Free Income Fund Lord Xxxxxx New Jersey Tax-Free Income Fund Lord Xxxxxx New York Tax-Free Income Fund Lord Xxxxxx Short Duration Tax Free Fund Lord Xxxxxx Research Fund, with the ability to utilize cash and dispose of assets to satisfy any unpaid advances and related charges. However, each of the Custody Agreements also includes certain language (the “Lien Limitation”) which requires, prior to the exercise of its lien rights, that:Inc. Corporation Maryland Lord Xxxxxx Calibrated Dividend Growth Fund Lord Xxxxxx Classic Stock Fund Lord Xxxxxx Growth Opportunities Fund Small-Cap Value Series Lord Xxxxxx Securities Trust Statutory Trust Delaware Lord Xxxxxx Alpha Strategy Fund Lord Xxxxxx Fundamental Equity Fund Lord Xxxxxx Growth Leaders Fund Lord Xxxxxx International Core Equity Fund

Global Custody Network Review. (annually) Information relating to the operating history and structure of depositories and subcustodians located in the markets in which State Street Bank and Trust Company offers custodial services, including transnational depositories. Global Legal Survey (annually) With respect to each market in which State Street Bank and Trust Company offers custodial services, opinions relating to whether local law restricts (i) access of a fund’s independent public accountants to books and records of a Foreign Sub- Sub-Custodian or Foreign Securities System, (ii) the Fund’s ability to recover in the event of bankruptcy or insolvency of a Foreign Sub-Custodian or Foreign Securities System, (iii) the Fund’s ability to recover in the event of a loss by a Foreign Sub- Sub-Custodian or Foreign Securities System, and (iv) the ability of a foreign investor to convert cash and cash equivalents to U.S. dollars. Subcustodian Agreements (annually) Copies of the subcustodian contracts State Street Bank and Trust Company has entered into with each subcustodian in the markets in which State Street Bank and Trust Company offers subcustody services to its US mutual fund clients. Network Bulletins (weekly): ) Developments of interest to investors in the markets in which State Street Bank and Trust Company offers custodial services. Foreign Custody Advisories (as necessary): ) With respect to markets in which State Street Bank and Trust Company offers custodial services which exhibit special custody risks, developments which may impact State Street’s ability to deliver expected levels of service. January 16State Street letterhead February 27, 2004 PIMCO Advisors Attn: Xxxx Xxxxxxxx 000 Xxxxxxx Xxxxxx Xx., Xxx. 000 Xxxxxxx Xxxxx2002 Federated Services Company Federated Investors Tower` Xxxxxxxxxx, XX 00000 RE00000-0000 Attention: Custody and Investment Accounting Agreements with Xxxxxx X. Xxxxxx, President Re: Remote Access Services Dear Customer: State Street Bank and Trust Company Company, including its subsidiaries and affiliates (“State Street”), has developed and utilizes proprietary accounting and other systems in conjunction with the services which we provide to you under the Custodian Contract, dated December 1, 1993 and as referenced on Attachment A hereto amended and in effect from time to time. In this regard, we maintain certain information in databases under our control and ownership which we make available to our customers (the “Custody AgreementsRemote Access Services”). The Services State Street agrees to provide you, the Customer, and your designated investment advisors, consultants or other third parties authorized by State Street who agree to abide by the terms of this Agreement (“Authorized Designees”) Xxxx: This letter will follow up our recent discussions about PIMCO’s intraday overdraft activitywith access to In~SightSM as described in Exhibit A or such other systems as may be offered from time to time (the “System”) on a remote basis. As you knowSecurity Procedures You agree to comply, in each and to cause your Authorized Designees to comply, with remote access operating standards and procedures and with user identification or other password control requirements and other security procedures as may be issued from time to time by State Street for use of the Custody Agreements, System and access to the contracting PIMCO entity grants (in Section 3) Remote Access Services. You agree to advise State Street a lien on immediately in the assets subject event that you learn or have reason to believe that any person to whom you have given access to the Custody System or the Remote Access Services has violated or intends to violate the terms of this Agreement as security and you will cooperate with State Street in seeking injunctive or other equitable relief. You agree to discontinue use of the System or Remote Access Services, if requested, for any advance of cash or securities made security reasons cited by State Street, with . Fees Fees and charges for the ability to utilize cash use of the System and dispose of assets to satisfy any unpaid advances the Remote Access Services and related charges. However, each of payment terms shall be as set forth in the Custody Agreements also includes certain language Fee Schedule in effect from time to time between the parties (the “Lien LimitationFee Schedule”). You shall be responsible for any tariffs, duties or taxes imposed or levied by any government or governmental agency by reason of the transactions contemplated by this Agreement, including, without limitation, federal, state and local taxes, use, value added and personal property taxes (other than income, franchise or similar taxes which may be imposed or assessed against State Street). Any claimed exemption from such tariffs, duties or taxes shall be supported by proper documentary evidence delivered to State Street. Proprietary Information/Injunctive Relief The System and Remote Access Services described herein and the databases, computer programs, screen formats, report formats, interactive design techniques, formulae, processes, systems, software, know-how, algorithms, programs, training aids, printed materials, methods, books, records, files, documentation and other information made available to you by State Street as part of the Remote Access Services and through the use of the System and all copyrights, patents, trade secrets and other proprietary rights of State Street related thereto are the exclusive, valuable and confidential property of State Street and its relevant licensors (the “Proprietary Information”). You agree on behalf of yourself and your Authorized Designees to keep the Proprietary Information confidential and to limit access to your employees and Authorized Designees (under a similar duty of confidentiality) which requires, prior who require access to the exercise System for the purposes intended. The foregoing shall not apply to Proprietary Information in the public domain or required by laws to be made public. You agree to use the Remote Access Services only in connection with the proper purposes of this Agreement. You will not, and will cause your employees and Authorized Designees not to, (i) permit any third party to use the System or the Remote Access Services, (ii) sell, rent, license or otherwise use the System or the Remote Access Services in the operation of a service bureau or for any purpose other than as expressly authorized under this Agreement, (iii) use the System or the Remote Access Services for any fund, trust or other investment vehicle without the prior written consent of State Street, or (iv) allow or cause any information transmitted from State Street’s databases, including data from third party sources, available through use of the System or the Remote Access Services, to be published, redistributed or retransmitted for other than use for or on behalf of yourself, as our Customer. You agree that neither you nor your Authorized Designee will modify the System in any way, enhance or otherwise create derivative works based upon the System, nor will you or your Authorized Designees reverse engineer, decompile or otherwise attempt to secure the source code for all or any part of the System. You acknowledge that the disclosure of any Proprietary Information, or of any information which at law or equity ought to remain confidential, will immediately give rise to continuing irreparable injury to State Street inadequately compensable in damages at law and that State Street shall be entitled to obtain immediate injunctive relief against the breach or threatened breach of any of the foregoing undertakings, in addition to any other legal remedies which may be available. Limited Warranties State Street represents and warrants that it is the owner of and has the right to grant access to the System and to provide the Remote Access Services contemplated herein. Because of the nature of computer information technology, including but not limited to the use of the Internet, and the necessity of relying on third party sources and data and pricing information obtained from third parties, the System and Remote Access Services are provided “AS IS”, and you and your Authorized Designees shall be solely responsible for the investment decisions, results obtained, regulatory reports and statements produced using the Remote Access Services. State Street and its relevant licensors will not be liable to you or your Authorized Designees for any direct or indirect, special, incidental, punitive or consequential damages arising out of or in any way connected with the System or the Remote Access Services, nor shall either party be responsible for delays or nonperformance under this Agreement arising out of any cause or event beyond such party’s control. State Street will take reasonable steps to ensure that its products (and those of its lien rightsthird-party suppliers) reflect the available state of the art technology to offer products that are Year 2000 compliant, that:including, but not limited to, century recognition of dates, calculations that correctly compute same century and multi century formulas and date values, and interface values that reflect the date issues arising between now and the next one-hundred years, and if any changes are required, State Street will make the changes to its products at no cost to you and in a commercially reasonable time frame and will require third-party supplies to do likewise. You will do likewise for your systems. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, STATE STREET FOR ITSELF AND ITS RELEVANT LICENSORS EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES CONCERNING THE SYSTEM AND THE SERVICES TO BE RENDERED HEREUNDER, WHETHER EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION ANY WARRANTY OF MERCHANTIBILITY OR FITNESS FOR A PARTICULAR PURPOSE. Infringement State Street will defend or, at our option, settle any claim or action brought against you to the extent that it is based upon an assertion that access to the System or use of the Remote Access Services by you under this Agreement constitutes direct infringement of any patent or copyright or misappropriation of a trade secret, provided that you will notify State Street promptly in writing of any such claim or proceeding and cooperate with State Street in the defense of such claim or proceeding. Should the System or the Remote Access Services or any part thereof become, or in State Street’s opinion be likely to become, the subject of a claim of infringement or the like under any applicable patent, copyright or trade secret laws, State Street shall have the right, at State Street’s sole option, to (i) procure for you the right to continue using the System or the Remote Access Services, (ii) replace or modify the System or the Remote Access Services so that the System or the Remote Access Services becomes noninfringing, or (iii) terminate this Agreement without further obligation.

Global Custody Network Review. (annually) Information relating to the operating history and structure of depositories and subcustodians located in the markets in which State Street Bank and Trust Company offers custodial services, including transnational depositories. Global Legal Survey (annually) With respect to each market in which State Street Bank and Trust Company offers custodial services, opinions relating to whether local law restricts (i) access of a fund’s independent public accountants to books and records of a Foreign Sub- Sub-Custodian or Foreign Securities System, (ii) the Fund’s ability to recover in the event of bankruptcy or insolvency of a Foreign Sub-Custodian or Foreign Securities System, (iii) the Fund’s ability to recover in the event of a loss by a Foreign Sub- Custodian Sub-custodian or Foreign Securities System, and (iv) the ability of a foreign investor to convert cash and cash equivalents to U.S. dollars. Subcustodian Agreements (annually) Copies of the subcustodian contracts State Street Bank and Trust Company has entered into with each subcustodian in the markets in which State Street Bank and Trust Company offers subcustody services to its US mutual fund clients. Network Bulletins (weekly): Developments of interest to investors in the markets in which State Street Bank and Trust Company offers custodial services. Foreign Custody Advisories (as necessary): With respect to markets in which State Street Bank and Trust Company offers custodial services which exhibit special custody risks, developments which may impact State Street’s ability to deliver expected levels of service. January 16AMENDMENT dated March 30, 2004 PIMCO Advisors Attn: Xxxx Xxxxxxxx 000 Xxxxxxx Xxxxxx Xx., Xxx. 000 Xxxxxxx Xxxxx, XX 00000 RE: 2010 to the Custody and Investment Accounting Agreements with Agreement (the “Agreement”) entered into on January 1, 2000 by and between State Street Bank and Trust Company as referenced on Attachment A hereto (the “Custody AgreementsState Street”) Xxxx: This letter will follow up our recent discussions about PIMCO’s intraday overdraft activityand PIMCO Variable Insurance Trust (“PVIT”). As you know, Capitalized terms used in each of this Amendment without definition shall have the Custody Agreements, respective meanings given to such terms in the contracting PIMCO entity grants (in Section 3) State Street a lien on the assets subject to the Custody Agreement as security for any advance of cash or securities made by State Street, with the ability to utilize cash and dispose of assets to satisfy any unpaid advances and related charges. However, each of the Custody Agreements also includes certain language (the “Lien Limitation”) which requires, prior to the exercise of its lien rights, that:amendment described herein.

Global Custody Network Review. (annually) Information relating to the operating history and structure of depositories and subcustodians located in the markets in which State Street Bank and Trust Company offers custodial services, including transnational depositories. Global Legal Survey (annually) With respect to each market in which State Street Bank and Trust Company offers custodial servicesservice, opinions relating to whether local law restricts (i) access of a fund’s independent public accountants to books and records of a Foreign Sub- Sub-Custodian or Foreign Securities System, (ii) the Fund’s ability to recover in the event of bankruptcy or insolvency of a Foreign Sub-Custodian or Foreign Securities System, (iii) the Fund’s ability to recover in the event of a loss by a Foreign Sub- Sub-Custodian or Foreign Securities System, and (iv) the ability of a foreign investor to convert cash and cash equivalents to U.S. dollars. Subcustodian Agreements (annually) Copies of the subcustodian contracts that State Street Bank and Trust Company has entered into with each subcustodian in the markets in which State Street Bank and Trust Company offers subcustody services to its US mutual fund clients. Network Bulletins (weekly): ) Developments of interest to investors in the markets in which State Street Bank and Trust Company offers custodial services. Foreign Custody Advisories (as necessary): ) With respect to markets in which State Street Bank and Trust Company offers custodial services which exhibit special custody risks, developments which may impact State Street’s ability to deliver delivery expected levels of service. January 16February 3, 2004 PIMCO Advisors Attn: 1997 000 Xxxx Xxxxxxxx 000 Xxxxxxx Xxxxxx Xx., Xxx. 000 Xxxxxxx XxxxxXxxxx Xxx Xxxx, XX 00000 RE: Custody and Investment Accounting Agreements with Xx. Xxxxxxxx X. Cuocolo Senior Vice President Mutual Fund Services State Street Bank and Trust Company as referenced X.X. Xxx 0000 Xxxxxx, XX 00000-0000 Dear Xxxxx: For your information, management of The Park Avenue Portfolio, Guardian’s family of mutual funds, has deceived to pursue the addition of two new series to PAP: The Guardian Park Avenue Small-Cap Fund and The Guardian Xxxxxxx Xxxxxxx Emerging Markets Fund. Pending Board approval, this will increase the number of funds in the PAP family to eight. It is our intention to offer both funs to the public effective May 1, 1997 and to offer both “A” and “B” share versions of each new fund. You can expect Xxxxx Xxxx and his staff to be in touch with your people in short order to begin making the necessary arrangements to accomplish our new fund introductions. Obviously, our existing agreement will need to be amended in this regard. Please communicate with me directly on Attachment A hereto this latter subject. Thank you. Sincerely, Xxxxxx X. Xxxxxx, Xx. Vice President, Operations cc: X. Xxxx X. Xxxxx X. Xxxxxxxxxx (SSBT) X. Xxxxxx (SSBT) TRH:me Agreement made by and between State Street Bank and Trust Company (the “Custody AgreementsCustodian”) Xxxx: This letter will follow up our recent discussions about PIMCO’s intraday overdraft activity. As you know, in each of the Custody Agreements, the contracting PIMCO entity grants (in Section 3) State Street a lien on the assets subject to the Custody Agreement as security for any advance of cash or securities made by State Street, with the ability to utilize cash and dispose of assets to satisfy any unpaid advances and related charges. However, each of the Custody Agreements also includes certain language The Park Avenue Portfolio (the “Lien LimitationFund”) which requires, prior to the exercise of its lien rights, that:).

Global Custody Network Review. (annually) Information relating to the operating history and structure of (annually) depositories and subcustodians located in the markets in which State Street Bank and Trust Company offers custodial services, including transnational depositories. Global Legal Survey (annually) With respect to each market in which State Street Bank and Trust Company offers custodial services, opinions relating to whether local law restricts (i) access of a fund’s independent public accountants to books and records of a Foreign Sub- Sub-Custodian or Foreign Securities System, (ii) the Fund’s ability to recover in the event of bankruptcy or insolvency of a Foreign Sub-Custodian custodian or Foreign Securities System, (iii) the Fund’s ability to recover in the event of a loss by a Foreign Sub- Custodian ForeignSub-custodian or Foreign Securities System, and (iv) the ability of a foreign investor to convert cash and cash equivalents to U.S. dollars. Subcustodian Agreements (annually) Copies of the subcustodian contracts State Street Bank and (annually) Trust Company has entered into with each subcustodian in the markets in which State Street Bank and Trust Company offers subcustody services to its US mutual fund clients. Network Bulletins (weekly): Developments of interest to investors in the markets in which State Street Bank and Trust Company offers custodial services. Foreign Custody Advisories (as necessary): With respect to markets in which State Street Bank and Trust Company offers custodial services which exhibit special custody risks, developments which may impact State Street’s ability to deliver expected levels of service. January Amendment dated April 16, 2004 PIMCO Advisors Attn: Xxxx Xxxxxxxx 000 Xxxxxxx Xxxxxx Xx.2003, Xxx. 000 Xxxxxxx Xxxxxto the Custodian Contract, XX 00000 RE: Custody dated December 31, 1985, as amended, by and Investment Accounting Agreements with between State Street Bank and Trust Company as referenced on Attachment A hereto (the “Custody AgreementsCustodian”) Xxxx: This letter will follow up our recent discussions about PIMCO’s intraday overdraft activity. As you knowand THE ROYCE FUND, in on behalf of each of the Custody Agreementsits Portfolios, the contracting PIMCO entity grants (in Section 3) State Street a lien on the assets subject to the Custody Agreement as security for any advance of cash or securities made by State Street, with the ability to utilize cash and dispose of assets to satisfy any unpaid advances and related charges. However, each of the Custody Agreements also includes certain language (the “Lien LimitationFund”) which requires(the “Contract”). In consideration of the promises and covenants contained herein, prior the Custodian and the Fund hereby agree to amend and replace Section 2.17 of the exercise of its lien rights, thatContract as follows:

Global Custody Network Review. (annually) Information relating to the operating history and structure of depositories and subcustodians located in the markets in which State Street Bank and Trust Company offers custodial services, including transnational depositories. Global Legal Survey (annually) With respect to each market in which State Street Bank and Trust Company offers custodial services, opinions relating to whether local law restricts (i) access of a fund’s independent public accountants to books and records of a Foreign Sub- Sub-Custodian or Foreign Securities System, (ii) the Fund’s ability to recover in the event of bankruptcy or insolvency of a Foreign Sub-Custodian or Foreign Securities System, (iii) the Fund’s ability to recover in the event of a loss by a Foreign Sub- Sub-Custodian or Foreign Securities System, and (iv) the ability of a foreign investor to convert cash and cash equivalents to U.S. dollars. Subcustodian Agreements (annually) Copies of the subcustodian contracts State Street Bank and Trust Company has entered into with each subcustodian in the markets in which State Street Bank and Trust Company offers subcustody services to its US mutual fund clients. Network Bulletins (weekly): Developments of interest to investors in the markets in which State Street Bank and Trust Company offers custodial services. Foreign Custody Advisories (as necessary): With respect to markets in which State Street Bank and Trust Company offers custodial services which exhibit special custody risks, developments which may impact State Street’s ability to deliver expected levels of service. January 16ENTITY AND SERIES TYPE OF ENTITY JURISDICTION Lord Axxxxx Affiliated Fund, 2004 PIMCO Advisors Attn: Xxxx Xxxxxxxx 000 Xxxxxxx Xxxxxx Xx.Inc. Corporation Maryland Lord Axxxxx Bond-Debenture Fund, Xxx. 000 Xxxxxxx XxxxxInc. Corporation Maryland Lord Axxxxx Developing Growth Fund, XX 00000 RE: Custody and Inc. Corporation Maryland Lord Axxxxx Equity Trust Statutory Trust Delaware Lord Axxxxx Calibrated Large Cap Value Fund Lord Axxxxx Calibrated Mid Cap Fund Value Fund Lord Axxxxx Global Fund, Inc. Corporation Maryland Lord Axxxxx Emerging Markets Corporate Debt Fund Lord Axxxxx Emerging Markets Currency Fund Lord Axxxxx Emerging Markets Local Bond Fund Lord Axxxxx Global Allocation Fund Lord Axxxxx Investment Accounting Agreements with State Street Bank and Trust Company as referenced on Attachment A hereto (the “Custody Agreements”) Xxxx: This letter will follow up our recent discussions about PIMCO’s intraday overdraft activity. As you knowStatutory Trust Delaware Lord Axxxxx Balanced Strategy Fund Lord Axxxxx Convertible Fund Lord Axxxxx Core Fixed Income Fund Lord Axxxxx Diversified Equity Strategy Fund Lord Axxxxx Diversified Income Strategy Fund Lord Axxxxx Floating Rate Fund Lord Axxxxx Growth & Income Strategy Fund Lord Axxxxx High Yield Fund Lord Axxxxx Income Fund Lord Axxxxx Inflation Focused Fund Lord Axxxxx Short Duration Income Fund Lord Axxxxx Total Return Fund Lord Axxxxx Mid Cap Stock Fund, in each of the Custody AgreementsInc. Corporation Maryland Lord Axxxxx Municipal Income Fund, the contracting PIMCO entity grants (in Section 3) State Street a lien on the assets subject to the Custody Agreement as security for any advance of cash or securities made by State StreetInc. Corporation Maryland Lord Axxxxx AMT Free Municipal Bond Fund Lord Axxxxx California Tax-Free Income Fund Lord Axxxxx High Yield Municipal Bond Fund Lord Axxxxx Intermediate Tax-Free Fund Lord Axxxxx National Tax-Free Income Fund Lord Axxxxx New Jersey Tax-Free Income Fund Lord Axxxxx New York Tax-Free Income Fund Lord Axxxxx Short Duration Tax Free Fund Lord Axxxxx Research Fund, with the ability to utilize cash and dispose of assets to satisfy any unpaid advances and related charges. However, each of the Custody Agreements also includes certain language (the “Lien Limitation”) which requires, prior to the exercise of its lien rights, that:Inc. Corporation Maryland Lord Axxxxx Calibrated Dividend Growth Fund Lord Axxxxx Classic Stock Fund Lord Axxxxx Growth Opportunities Fund Small-Cap Value Series Lord Axxxxx Securities Trust Statutory Trust Delaware Lord Axxxxx Alpha Strategy Fund Lord Axxxxx Fundamental Equity Fund Lord Axxxxx Growth Leaders Fund Lord Axxxxx International Core Equity Fund

Global Custody Network Review. (annually) Information relating to the operating history and structure of depositories and subcustodians located in the markets in which State Street Bank and Trust Company offers custodial services, including transnational depositories. Global Legal Survey (annually) With respect to each market in which State Street Bank and Trust Company offers custodial services, opinions relating to whether local law restricts (i) access of a fund’s independent public accountants to books and records of a Foreign Sub- Sub-Custodian or Foreign Securities System, (ii) the Fund’s ability to recover in the event of bankruptcy or insolvency of a Foreign Sub-Custodian or Foreign Securities System, (iii) the Fund’s ability to recover in the event of a loss by a Foreign Sub- Sub-Custodian or Foreign Securities System, and (iv) the ability of a foreign investor to convert cash and cash equivalents to U.S. dollars. Subcustodian Subcostodian Agreements (annually) Copies of the subcustodian contracts State Street Bank and Trust Company has entered into with each subcustodian in the markets in which State Street Bank and Trust Company offers subcustody services to its US mutual fund clients. Network Bulletins (weekly): Developments of interest to investors in the markets in which State Street Bank and Trust Company offers custodial services. Foreign Custody Advisories (as necessary): With respect to markets in which State Street Bank and Trust Company offers custodial services which exhibit special custody risks, developments which may impact State Street’s ability to deliver expected levels of service. January 16The Guardian Variable Contract Funds, 2004 PIMCO Advisors Attn: Xxxx Xxxxxxxx 000 Inc. 0 Xxxxxxx Xxxxxx Xx.Xxx Xxxx, Xxx. 000 Xxxxxxx XxxxxXxx Xxxx 00000 Attention: Xxxxx X. Xxxx, XX 00000 REVice President Re: Custody and Investment Accounting Agreements with Remote Access Services Dear Customer: State Street Bank and Trust Company Company, including its subsidiaries and affiliates (“State Street”), has developed and utilizes proprietary accounting and other systems in conjunction with the custodian services which we provide to you (hereinafter sometimes referred to as referenced on Attachment A hereto the “Customer”). In this regard, we maintain certain information in databases under our control and ownership which we make available to our customers (the “Custody AgreementsRemote Access Services”) Xxxx: This letter will follow up our recent discussions about PIMCO’s intraday overdraft activity). As you know, in each of the Custody Agreements, the contracting PIMCO entity grants (in Section 3) State Street a lien on the assets subject agrees to the Custody Agreement as security for any advance of cash provide you and your designated investment advisors, consultants or securities made other third parties, each such designee having been authorized by State Street, with the ability to utilize cash and dispose of assets to satisfy any unpaid advances and related charges. However, each informed by you of the Custody Agreements also includes certain language terms of this Agreement and whose compliance herewith shall be your responsibility (“Authorized Designees”) with access to In -Sights”‘ as described in Exhibit A or such other systems as may be offered from time to time (the “Lien LimitationSystem”) which requireson a remote basis. You agree to comply, prior and to cause your Authorized Designees to comply, with remote access operating standards and procedures and with user identification or other password control requirements and other security procedures as may be issued from time to time by State Street for use of the System and access to the exercise Remote Access Services. You agree to advise State Street immediately in the event that you learn or have reason to believe that any person to whom you have given access to the System or the Remote Access Services has violated or intends to violate the terms of its lien rightsthis Agreement and you will cooperate with State Street in seeking injunctive or other equitable relief. You agree to discontinue use of the System and Remote Access Services, that:if requested, for any security reasons cited by State Street.