ANTI-MONEY LAUNDERING AMENDMENT
This ANTI-MONEY LAUNDERING AMENDMENT (this "AMENDMENT") amends as of the
24th day of July, 2002 (the "EFFECTIVE DATE"), the Sub-Transfer Agency Services
Agreement, dated as of July 1, 1996, as subsequently amended, between Xxxxxx
Trust and Savings Bank and PFPC Inc. ("PFPC") (the "AGREEMENT").
For valuable consideration the receipt and sufficiency of which the parties
hereto hereby acknowledge, the Company and PFPC Inc. ("PFPC") hereby agree that,
as of the Effective Date, the Agreement shall (without any further action by
either of the parities hereto) be amended as follows:
1. ANTI-MONEY LAUNDERING. As of the Effective Date, the Agreement is amended
by adding the following new provision:
"Anti-Money Laundering. Subject to the terms and conditions of the
agreement, PFPC shall perform actions reasonably necessary to help the Fund
be in compliance with Section 352 of the USA PATRIOT Act (and regulations
promulgated thereunder), as follows: In this regard, PFPC shall: (a)
establish and implement written internal policies, procedures and controls
reasonably designed to detect and help prevent the Fund from being used to
launder money or finance terrorist activities; (b) provide for independent
testing, by an employee who is not responsible for the operation of PFPC's
AML program or by an outside party, for compliance with PFPC's established
AML policies and procedures; (c) designate a person or persons responsible
for implementing and monitoring the operation and internal controls of
PFPC's AML program; and (d) provide ongoing training of PFPC personnel
relating to the prevention of money-laundering activities. Upon the
reasonable request of the Fund, PFPC shall provide to the Fund: (w) a copy
of PFPC's written AML policies and procedures (it being understood that
such information is to be considered confidential and treated as such and
afforded all protections provided to confidential information under this
agreement); (x) at the option of PFPC, at least one of the following items
will be provided to the Fund - a copy of a written assessment or report
prepared by the party performing the independent testing for compliance, or
a summary thereof, or a certification by an officer of PFPC that the
findings of the independent party are satisfactory; (y) a summary of the
AML training provided for appropriate personnel and (z) a certificate
executed by an officer of PFPC regarding PFPC's AML program, the name of
its designated compliance officer, a description of the audit process, a
description of the employee training program (all of which may be taken
from PFPC's most current standard materials). PFPC will also provide
quarterly statistical summary reports of PFPC's AML monitoring on behalf of
the Funds (the first one being due not before the six month anniversary
hereof). PFPC agrees to permit inspections relating to its AML program by
the Xxxxxx Insight Funds Trust's AML Compliance Officer and by U.S. Federal
departments or regulatory agencies with appropriate jurisdiction and to
make available to examiners from such departments or regulatory agencies
such information and records relating to its AML program as such examiners
shall reasonably request. The parties acknowledge the provisions of this
paragraph do not cover Section 326 or any other section (other than Section
352) of the USA PATRIOT Act (or the regulations promulgated thereunder)."
2. GENERAL. This Amendment contains the entire understanding between the
parties with respect to the services contemplated hereby. Except as expressly
set forth herein, the Agreement shall remain unaffected hereby.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their duly authorized officers, as of the day and year first above
written.
XXXXXX TRUST AND SAVINGS BANK
By: /s/ Xxxxx X. Xxxxxxxx
--------------------------------
Name: Xxxxx X. Xxxxxxxx
Title: Senior Vice President
PFPC INC.
By: /s/ Xxxxx X. Xxxxxx
------------------------
Name: Xxxxx X. Xxxxxx
Title: Vice President and Director
Legal Approval: ____________________
Date: _____________________________
