Common use of Reports and Voting of Securities Clause in Contracts

Reports and Voting of Securities. The Custodian shall deliver, or cause to be delivered by mail or electronically, to the Employee or, if applicable, his or her Beneficiary, all notices, prospectuses, financial statements and other reports to shareholders, proxies and proxy soliciting materials relating to the shares of the Funds(s) credited to the Custodial Account. The Custodian shall vote any shares held in the Account in accordance with the timely written instructions of the Employee if received. If no timely written voting instructions are received from the Employee (or his or Beneficiary), the Employee (or his or her Beneficiary) agrees that the Custodian may vote such unvoted shares as instructed by the Fund Distributor, which may include voting in the same proportion of shares of the Fund for which written voting instructions were timely received by the Fund (or its agent) from the Fund’s other shareholders or in accordance with the recommendations of the Fund’s board of directors in the relevant proxy soliciting materials. In the latter case, the Custodian shall have no responsibility to separately review or evaluate the Fund’s board of directors’ voting recommendations nor have any liability for following the Employee’s instruction to follow the Fund’s board of directors’ recommendation.