AMENDMENT TO THE CUSTODY AGREEMENT
AMENDMENT TO THE CUSTODY AGREEMENT
THIS AMENDMENT dated as of March 20, 2020 to the Custody Agreement dated as of August 1, 2011, as amended (the “Custody Agreement”), is entered into by and between CITY NATIONAL ROCHDALE FUNDS, a Delaware trust (the "Trust") and U.S. BANK, N.A., a national banking association (the "Custodian").
RECITALS
WHEREAS, the parties have entered into the Custody Agreement; and
WHEREAS, the parties desire to amend the fee schedule in Exhibit D of the Agreement to add the Chief Compliance Officer Support Fee; and
WHEREAS, Article XV, Section 15.02 of the Custody Agreement allows for its amendment by written agreement of the parties;
NOW, THEREFORE, the parties agree as follows:
Exhibit D is superseded and replaced with Exhibit D attached hereto.
Except to the extent amended hereby, the Custody Agreement shall remain in full force and effect.
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 last written below.
CITY NATIONAL ROCHDALE FUNDS | U.S. BANK, N.A. | ||||
By: | e-SIGNed by Xxxxxxx Xxxxx on 06-12-2020 |
By: | ![]() |
||
Name: | Name: | ||||
Title: | Title: | ||||
Date: | Date: |
Amended Exhibit C to the Custody Agreement
Fund Names
Separate Series of City National Rochdale Funds
City National Rochdale High Yield Bond Fund
City National Rochdale Government Money Market Fund
City National Rochdale California Tax Exempt Bond Fund
City National Rochdale Corporate Bond Fund
City National Rochdale Government Bond Fund
City National Rochdale U.S. Core Equity Fund
City National Rochdale Dividend & Income Fund
City National Rochdale Fixed Income Opportunities Fund
City National Rochdale Intermediate Fixed Income
Fund City National Rochdale Municipal High Income Fund
City National Rochdale Short Term Emerging Markets Debt Fund
EXHIBIT D to the Custody Agreement
DOMESTIC CUSTODY SERVICES
ANNUAL FEE SCHEDULE at June, 2011
Annual Fee Based Upon Market Value of the Complex
0.60 basis points for the first $ 1 billion of assets
0.50 basis points on the next $2 billion of assets
0.35 basis points on the next $2 billion of assets
0.30 basis points on the next $5 billion of assets
0.25 basis points on the balance
▪ | Overdrafts – charged to the account at Prime Interest rate plus 2% |
▪ | Market Value will be based on the average daily market value of the complex based on custodian records. |
Chief Compliance Officer Support Fee
▪ | $2,000 per year per fund complex |
Out-Of-Pocket Expenses
Including but not limited to expenses incurred in the safekeeping, delivery and receipt of securities, shipping, transfer fees, deposit withdrawals at custodian (DWAC) fees, and extraordinary expenses based upon complexity. Fees for Global assets will be stated separately
Fees are billed monthly.
Exhibit D (continued) –to the Custody Agreement
GLOBAL SUB-CUSTODIAL SERVICES ANNUAL FEE SCHEDULE effective June 1, 2011 | ||||||||
Country | Instrument | Safekeeping (BPS) | Transaction Fee | Country | Instrument | Safekeeping (BPS) | Transaction Fee | |
Argentina | All | 12.00 | $32 | Lebanon | All | 20.00 | $72 | |
Australia | All | 1.00 | $15 | Lithuania | All | 16.00 | $40 | |
Austria | All | 1.70 | $17 | Luxembourg | All | 3.20 | $25 | |
Bahrain | All | 40.00 | $112 | Malaysia | All | 2.90 | $39 | |
Bangladesh | All | 32.00 | $120 | Mali* | All | 32.00 | $124 | |
Belgium | All | 1.20 | $22 | Malta | All | 17.60 | $60 | |
Benin* | All | 32.00 | $124 | Mauritius | All | 24.00 | $80 | |
Bermuda | All | 12.00 | $48 | Mexico | All | 1.50 | $10 | |
Botswana | All | 20.00 | $40 | Morocco | All | 28.00 | $80 | |
Brazil | All | 7.20 | $17 | Namibia | All | 24.00 | $40 | |
Bulgaria | All | 32.00 | $64 | Netherlands | All | 1.50 | $12 | |
Burkina Faso* | All | 32.00 | $124 | New Zealand | All | 2.00 | $26 | |
Canada | All | 1.00 | $6 | Niger* | All | 32.00 | $124 | |
Cayman Islands* | All | 0.80 | $8 | Nigeria | All | 24.00 | $40 | |
Channel Islands* | All | 1.20 | $20 | Norway | All | 1.50 | $22 | |
Chile | All | 16.00 | $48 | Oman | All | 40.00 | $112 | |
China” A” Shares | All | 9.60 | $42 | Pakistan | All | 24.00 | $80 | |
China“B” Shares | All | 9.60 | $42 | Peru | All | 35.00 | $85 | |
Columbia | All | 32.00 | $80 | Philippines | All | 3.90 | $36 | |
Costa Rica | All | 12.00 | $48 | Poland | All | 12.00 | $24 | |
Croatia | All | 28.00 | $52 | Portugal | All | 4.80 | $39 | |
Cyprus* | All | 12.00 | $45 | Qatar | All | 36.00 | $112 | |
Czech Republic | All | 9.60 | $24 | Romania | All | 28.00 | $80 | |
Denmark | All | 1.50 | $24 | Russia | Equities/Bonds | 30.00 | $165 | |
Ecuador | All | 28.00 | $52 | Russia | MINFINs | 12.00 | $40 | |
Egypt | All | 25.60 | $64 | Senegal* | All | 32.00 | $124 | |
Estonia | All | 5.60 | $20 | Singapore | All | 1.50 | $20 | |
Euromarkets(3) | All | 1.00 | $4 | Slovak Republic | All | 20.00 | $88 | |
Finland | All | 2.40 | $22 | Slovenia | All | 20.00 | $88 | |
France | All | 1.00 | $15 | South Africa | All | 1.50 | $8 | |
Germany | All | 1.00 | $15 | South Korea | All | 4.80 | $10 | |
Ghana | All | 20.00 | $40 | Spain | All | 1.00 | $15 | |
Greece | All | 7.20 | $33 | Sri Lanka | All | 12.00 | $48 | |
Guinea Bissau* | All | 40.00 | $124 | Swaziland | All | 24.00 | $40 | |
Hong Kong | All | 2.00 | $25 | Sweden | All | 1.00 | $22 | |
Hungary | All | 20.00 | $60 | Switzerland | All | 1.00 | $24 | |
Iceland | All | 12.00 | $45 | Taiwan | All | 12.00 | $64 | |
India | All | 8.00 | $84 | Thailand | All | 2.90 | $22 | |
Indonesia | All | 5.80 | $68 | Togo* | All | 32.00 | $124 | |
Ireland | All | 1.50 | $15 | Trinidad & Tobago* | All | 24.00 | $52 | |
Israel | All | 9.60 | $29 | Tunisia | All | 32.00 | $36 | |
Italy | All | 1.50 | $24 | Turkey | All | 9.60 | $10 | |
Ivory Coast | All | 32.00 | $124 | UAE | All | 36.00 | $104 | |
Jamaica* | All | 28.00 | $40 | United Kingdom | All | 1.00 | $5 | |
Japan | All | 1.00 | $8 | Ukraine | All | 19.20 | $29 | |
Jordan | All | 32.00 | $100 | Uruguay | All | 40.00 | $52 | |
Kazakhstan | All | 48.00 | $120 | Venezuela | All | 32.00 | $100 | |
Kenya | All | 24.00 | $40 | Vietnam* | All | 32.00 | $104 | |
Latvia | Equities | 12.00 | $60 | Zambia | All | 24.00 | $40 | |
Latvia | Bonds | 20.00 | $72 |
* | Additional customer documentation and indemnification will be required prior to establishing accounts in these markets. |
Base Fee - A monthly base charge per account (fund) will apply based on the number of foreign securities held.
1-50 foreign securities: $500*
51-100 foreign securities: $1,000 Over 100 foreign securities: $1,500
Exhibit D (continued) –to the Custody Agreement
* | Note: Trading in the following markets are not allowed at the $500 monthly base fee: Bangladesh, Brazil, Chile, Columbia, Croatia, Czech Republic, Equator, Egypt, Estonia, India, Indonesia, Lebanon, Malaysia, Pakistan, Peru, Poland, Portugal, Qatar, Slovenia, Sri Lanka, Taiwan, Tunisia, Turkey, Ukraine, Zambia, China-Shanghai, China-Shenzhen, Ivory Coast, Jordan, Kazakhstan, Oman, South Korea, United Arab Emirates, and Venezuela. |
▪ | Euro clear – Eurobonds only. Eurobonds are held in Euroclear at a standard rate, but other types of securities (including but not limited to equities, domestic market debt and mutual funds) will be subject to a surcharge. In addition, certain transactions that are delivered within Euroclear or from a Euroclear account to a third party depository or settlement system, will be subject to a surcharge (surcharge schedule available upon request). |
▪ | For all other markets specified above, surcharges may apply if a security is held outside of the local market. |
Straight Through Processing – fees waived.
Cash Transactions:
▪ | 3rd Party Foreign Exchange – a Foreign Exchange transaction undertaken through a 3rd party will be charged $50. |
Tax Reclamation Services: May be subject to additional charges depending upon the service level agreed. Tax reclaims that have been outstanding for more than 6 (six) months with the client will be charged $50 per claim.
Out of Pocket Expenses
▪ | Charges incurred by U.S. Bank, N.A. for local taxes, stamp duties or other local duties and assessments, stock exchange fees, postage and insurance for shipping, facsimile reporting, extraordinary telecommunications fees, proxy services and other shareholder communications or other expenses which are unique to a country in which the client or its clients is investing will be passed along as incurred. |
▪ | A surcharge may be added to certain out-of-pocket expenses listed herein to cover handling, servicing and other administrative costs associated with the activities giving rise to such expenses. Also, certain expenses are charged at a predetermined flat rate. |
▪ | SWIFT reporting and message fees. |