NEW COVENANT FUNDS FIRST ADDENDUM TO TRANSFER AGENT SERVICING AGREEMENT
FIRST
ADDENDUM TO TRANSFER AGENT SERVICING AGREEMENT
THIS ADDENDUM dated as of this
18th
day of May, 2009 to the Transfer Agent Servicing Agreement, dated as of March
18, 2008 (the “Agreement”), is entered into by and among NEW COVENANT FUNDS, a Delaware
statutory trust (the “Trust”), and U.S. BANCORP FUND SERVICES,
LLC, a Wisconsin limited liability company (“USBFS”).
WHEREAS,
the parties desire to modify the Agreement; and
WHEREAS,
Section 13 of the Agreement allows for its modification by written agreement
executed by the parties; and
NOW
THEREFORE, the parties agree that the Agreement is hereby amended as
follows:
Section
5 of the Agreement titled Anti-Money Laundering Program is removed in its
entirety and replaced with the following Section 5 which is added to the
Agreement.
5. Anti-Money
Laundering and Red Flag Identity Theft Prevention Programs
The Trust
acknowledges that it has had an opportunity to review, consider and comment upon
the written procedures provided by USBFS describing various tools used by USBFS
which are designed to (i) promote the detection and reporting of potential money
laundering activity by monitoring certain aspects of shareholder activity as
well as written procedures for verifying a customer’s identity and (ii)
preventing identity theft (collectively, the “Procedures”). Further,
the Trust has determined that the Procedures, as part of the Trust’s overall
anti-money laundering program and Red Flag Identity Theft Prevention program,
are reasonably designed to prevent the Trust from being used for money
laundering or the financing of terrorist activities and to achieve compliance
with the applicable provisions of the Fair and Accurate Credit Transactions Act
of 2003 and the USA PATRIOT Act of 2001 and the implementing regulations
thereunder.
Based on
this determination, the Trust hereby instructs and directs USBFS to implement
the Procedures on the Trust’s behalf, as such may be amended or revised from
time to time. It is contemplated that these Procedures will be
amended from time to time by the parties as additional regulations are adopted
and/or regulatory guidance is provided relating to the Trust’s anti-money
laundering and identity theft responsibilities.
USBFS
agrees to provide to the Trust:
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(a)
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Prompt
written notification of any transaction or combination of transactions
that USBFS believes, based on the Procedures, evidence money laundering or
identity theft activities in connection with the Trust or any shareholder
of a Fund;
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1
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(b)
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Prompt
written notification of any customer(s) that USBFS reasonably believes,
based upon the Procedures, to be engaged in money laundering or identity
theft activities, provided that the Trust agrees not to communicate this
information to the customer;
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(c)
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Any
reports received by USBFS from any government agency or applicable
industry self-regulatory organization pertaining to USBFS’s anti-money
laundering monitoring or the Red Flag Identity Theft Prevention Program on
behalf of the Trust;
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(d)
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Prompt
written notification of any action taken in response to anti-money
laundering violations or identity theft activity as described in (a), (b)
or (c); and
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(e)
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Certified
annual and quarterly reports of its monitoring and customer identification
activities on behalf of the Trust.
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The Trust
hereby directs, and USBFS acknowledges, that USBFS shall (i) permit federal
regulators access to such information and records maintained by USBFS and
relating to USBFS’s implementation of the Procedures, on behalf of the Trust, as
they may request, and (ii) permit such federal regulators to inspect USBFS’s
implementation of the Procedures on behalf of the Trust.
Except to
the extent modified hereby, the Agreement shall remain in full force and
effect.
IN
WITNESS WHEREOF, the parties hereto have caused this Addendum to be executed by
a duly authorized officer on one or more counterparts as of the date and year
first written above.
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U.S.
BANCORP FUND SERVICES, LLC
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By:
/s/ Xxxxxx X.
Xxxxxxxxx
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By:
/s/ Xxxxxxx X.
XxXxx
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Name:
Xxxxxx X.
Xxxxxxxxx
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Name:
Xxxxxxx X. XxXxx
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Title:
Vice
President
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Title:
Executive Vice President
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