Contract
EXHIBIT 10.4
THIS AMENDMENT dated as of April 6, 2009, to the Custody Agreement, dated as of November 1, 2002,
as amended February 10, 2006, May 1, 2006 and June 14, 2006 (the “Agreement”), is entered into by
and between MVC Capital, Inc., a Delaware corporation (the “Corporation”) and U.S. Bank, N.A., a
national banking association (the “Custodian”).
RECITALS
WHEREAS, the parties have entered into an Agreement; and
WHEREAS, the Corporation and the Custodian desire to amend the length and the fees of the
Agreement; and
WHEREAS, Article XIV, Section 14.4 of the Agreement allows for an amendment by a written instrument
executed by both parties.
NOW, THEREFORE, the parties agree as follows:
Section 10.1, effective period of the Agreement, is hereby superseded and replaced with the
following Section 10.1:
10.1 Effective Period. This Agreement shall become effective as of March 1, 2009 and
shall continue in full force and effect for three (3) years until terminated as hereinafter
provided.
Exhibit C, the fee schedule of the Agreement, is hereby superseded and replaced with the Exhibit C
fee schedule attached hereto.
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.
| MVC CAPITAL, INC. | U.S. BANK, N.A. | |||||||||||||
| By: | /s/ Xxxxx Xxxxxxxxxx | By: | /s/ Xxxxxxx X. XxXxx | |||||||||||
| Printed Name: Title: |
Xxxxx Xxxxxxxxxx CFO |
Printed Name: Title: |
Xxxxxxx X. XxXxx Vice President |
|||||||||||
4/06/09
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FEE SCHEDULE effective 3/1/09 through 3/1/12
Custody Services (per fund):
1.00 basis point on the first $200 million
.50 basis point on the balance of fund assets Minimum annual fee per fund — $6,000
.50 basis point on the balance of fund assets Minimum annual fee per fund — $6,000
Portfolio Transaction Fees
$7.00 per US Bank repurchase agreement transaction
$9.00 per book entry security (depository or Federal Reserve system) and non-US Bank repurchase agreement
$25.00 per portfolio transaction processed through our New York custodian definitive security (physical)
$8.00 per principal paydown
$15.00 per option/future contract written, exercised or expired
$50.00 per Cedel/Euroclear transaction
$15.00 per mutual fund trade
$15.00 per Fed Wire
$10.00 per margin variation Fed wire
$6.00 per short sale
$150.00 per segregated account per year
$9.00 per book entry security (depository or Federal Reserve system) and non-US Bank repurchase agreement
$25.00 per portfolio transaction processed through our New York custodian definitive security (physical)
$8.00 per principal paydown
$15.00 per option/future contract written, exercised or expired
$50.00 per Cedel/Euroclear transaction
$15.00 per mutual fund trade
$15.00 per Fed Wire
$10.00 per margin variation Fed wire
$6.00 per short sale
$150.00 per segregated account per year
| • | A transaction is a purchase/sale of a security, free receipt/free delivery, maturity, tender or exchange. | ||
| • | No charge for the initial conversion free receipt. | ||
| • | Overdrafts — charged to the account at prime interest rate plus 2. |
All services plus out-of-pocket expenses, including, but not limited to:
| • | Postage, Stationery | ||
| • | Programming, Special Reports | ||
| • | Proxies, Insurance | ||
| • | XXXXX filing | ||
| • | Retention of records | ||
| • | Federal and state regulatory filing fees | ||
| • | Certain insurance premiums | ||
| • | Expenses from board of directors meetings | ||
| • | Auditing and legal expenses | ||
| • | Blue Sky conversion expenses (if necessary) | ||
| • | All other out-of-pocket expenses |
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