AMENDMENT TO THE PROFESSIONALLY MANAGED PORTFOLIOS AMENDED AND RESTATED CUSTODY AGREEMENT
AMENDMENT TO THE
AMENDED AND RESTATED CUSTODY AGREEMENT
THIS AMENDMENT dated as of the __ day of ______, 2017, to the Amended and Restated Custody Agreement, originally made and entered into as of June 22, 2006, and amended and restated as of May 15, 2013 (the "Agreement") is entered into by and between Professionally Managed Portfolios, a Massachusetts business trust (the "Trust"), on behalf of its separate series, the Congress Funds and U.S. Bank N.A., a national banking association (the "Custodian").
RECITALS
WHEREAS, the parties have entered into a Custody Agreement; and
WHEREAS, the parties desire to amend the series of the Trust to add the Congress Small Cap Growth Fund; and
WHEREAS, Article XV, Section 15.02 of the Agreement allows for its amendment by a written instrument executed by both parties.
NOW, THEREFORE, the parties agree as follows:
Amended Exhibit K to the Agreement is hereby superseded and replaced with
Amended Exhibit K attached hereto.
Except to the extent amended hereby, the 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 first written above.
|
U.S. BANK N.A.
|
|||
By:
|
|
By:
|
||
Name: Xxxxxx X. Xxxxxxxx
|
|
Name: Xxxxxxx X. Xxxxxxx
|
||
Title: President
|
|
Title: Vice President
|
1
Amended Exhibit K
to the
Professionally Managed Portfolios Amended and Restated Custody Agreement
Name of Series
Congress Large Cap Growth Fund
Congress All Cap Opportunity Fund
Congress Mid Cap Growth Fund
Congress Small Cap Growth Fund
Custody Services Fee Schedule at May, 2016
Annual Fee Based Upon Market Value Per Fund*
[ ] basis point on average daily market value of all long securities and cash held in the portfolio
Minimum annual fee per fund - $[ ]
Plus portfolio transaction fees
Portfolio Transaction Fees
§ |
$[ ] – Book entry DTC transaction, Federal Reserve transaction, principal paydown
|
§ |
$[ ] – Repurchase agreement, reverse repurchase agreement, time deposit/CD or other non-depository transaction
|
§ |
$[ ] – Option/SWAPS/future contract written, exercised or expired
|
§ |
$[ ] – Mutual fund trade, Fed wire, margin variation Fed wire
|
§ |
$[ ] – Physical security transaction
|
§ |
$[ ] – Check disbursement (waived if U.S. Bancorp is Administrator)
|
A transaction is a purchase/sale of a security, free receipt/free delivery, maturity, tender or exchange.
Miscellaneous 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, SWIFT charges and extraordinary expenses based upon complexity.
Additional Services
§ |
Additional fees apply for global servicing.
|
§ |
Sub Advised Funds - $[ ] per custody account per year
|
§ |
$[ ] – Segregated account per year
|
§ |
No charge for the initial conversion free receipt.
|
§ |
Overdrafts – charged to the account at prime interest rate plus [ ] unless a line of credit is in place.
|
* Subject to annual CPI increase - All Urban Consumers - U.S. City Average.
Fees are calculated pro rata and billed monthly.
2
Amended Exhibit K (continued) to the Professionally Managed Portfolios Amended and Restated Custody Agreement
Additional Global Sub-Custodial Services Annual Fee Schedule at May, 2016
Country
|
Instrument
|
Safekeeping
(BPS)
|
Transaction
Fee
|
Country
|
Instrument
|
Safekeeping
(BPS)
|
Transaction
Fee
|
|
Argentina
|
All
|
____
|
$____
|
Malaysia
|
All
|
____
|
$____
|
|
Australia
|
All
|
____
|
$____
|
Mali
|
All
|
____
|
$____
|
|
Austria
|
All
|
____
|
$____
|
Malta
|
All
|
____
|
$____
|
|
Bahrain
|
All
|
____
|
$____
|
Mauritius
|
All
|
____
|
$____
|
|
Bangladesh
|
All
|
____
|
$____
|
Mexico
|
All
|
____
|
$____
|
|
Belgium
|
All
|
____
|
$____
|
Morocco
|
All
|
____
|
$____
|
|
Benin
|
All
|
____
|
$____
|
Namibia
|
All
|
____
|
$____
|
|
Bermuda
|
All
|
____
|
$____
|
Netherlands
|
All
|
____
|
$____
|
|
Botswana
|
All
|
____
|
$____
|
New Zealand
|
All
|
____
|
$____
|
|
Brazil
|
All
|
____
|
$____
|
Niger
|
All
|
____
|
$____
|
|
Bulgaria
|
All
|
____
|
$____
|
Nigeria
|
All
|
____
|
$____
|
|
Burkina Faso
|
All
|
____
|
$____
|
Norway
|
All
|
____
|
$____
|
|
Canada
|
All
|
____
|
$____
|
Oman
|
All
|
____
|
$____
|
|
Cayman Islands*
|
All
|
____
|
$____
|
Pakistan
|
All
|
____
|
$____
|
|
Channel Islands*
|
All
|
____
|
$____
|
Peru
|
All
|
____
|
$____
|
|
Chile
|
All
|
____
|
$____
|
Philippines
|
All
|
____
|
$____
|
|
China
|
All
|
____
|
$____
|
Poland
|
All
|
____
|
$____
|
|
Columbia
|
All
|
____
|
$____
|
Portugal
|
All
|
____
|
$____
|
|
Costa Rica
|
All
|
____
|
$____
|
Qatar
|
All
|
____
|
$____
|
|
Croatia
|
All
|
____
|
$____
|
Romania
|
All
|
____
|
$____
|
|
Cyprus
|
All
|
____
|
$____
|
Russia
|
Equities
|
____
|
$____
|
|
Czech Republic
|
All
|
____
|
$____
|
Senegal
|
All
|
____
|
$____
|
|
Denmark
|
All
|
____
|
$____
|
Singapore
|
All
|
____
|
$____
|
|
Ecuador
|
All
|
____
|
$____
|
Slovak Republic
|
All
|
____
|
$____
|
|
Egypt
|
All
|
____
|
$____
|
Slovenia
|
All
|
____
|
$____
|
|
Estonia
|
All
|
____
|
$____
|
South Africa
|
All
|
____
|
$____
|
|
Euromarkets**
|
All
|
____
|
$____
|
South Korea
|
All
|
____
|
$____
|
|
Finland
|
All
|
____
|
$____
|
Spain
|
All
|
____
|
$____
|
|
France
|
All
|
____
|
$____
|
Sri Lanka
|
All
|
____
|
$____
|
|
Germany
|
All
|
____
|
$____
|
Swaziland
|
All
|
____
|
$____
|
|
Ghana
|
All
|
____
|
$____
|
Sweden
|
All
|
____
|
$____
|
|
Greece
|
All
|
____
|
$____
|
Switzerland
|
All
|
____
|
$____
|
|
Guinea Bissau
|
All
|
____
|
$____
|
Taiwan
|
All
|
____
|
$____
|
|
Hong Kong
|
All
|
____
|
$____
|
Thailand
|
All
|
____
|
$____
|
|
Hungary
|
All
|
____
|
$____
|
Togo
|
All
|
____
|
$____
|
|
Iceland
|
All
|
____
|
$____
|
Tunisia
|
All
|
____
|
$____
|
|
India
|
All
|
____
|
$____
|
Turkey
|
All
|
____
|
$____
|
|
Indonesia
|
All
|
____
|
$____
|
UAE
|
All
|
____
|
$____
|
|
Ireland
|
All
|
____
|
$____
|
United Kingdom
|
All
|
____
|
$____
|
|
Israel
|
All
|
____
|
$____
|
Ukraine
|
All
|
____
|
$____
|
|
Italy
|
All
|
____
|
$____
|
Uruguay
|
All
|
____
|
$____
|
|
Ivory Coast
|
All
|
____
|
$____
|
Venezuela
|
All
|
____
|
$____
|
|
Japan
|
All
|
____
|
$____
|
Vietnam
|
All
|
____
|
$____
|
|
Jordan
|
All
|
____
|
$____
|
Zambia
|
All
|
____
|
$____
|
|
Kazakhstan
|
All
|
____
|
$____
|
Zimbabwe
|
All
|
____
|
$____
|
|
Kenya
|
All
|
____
|
$____
|
|||||
Kuwait
|
All
|
____
|
$____
|
|||||
Latvia
|
Equities
|
____
|
$____
|
|||||
Lebanon
|
All
|
____
|
$____
|
|||||
Lithuania
|
All
|
____
|
$____
|
|||||
Luxembourg
|
All
|
____
|
$____
|
* |
Additional customer documentation and indemnification will be required prior to establishing accounts in these markets.
|
** |
Tiered by market value: <$_ billion: _ bp, >$_ billion and <$_ billion: _ bps; >$_ billion: _ bps.
|
** |
Euromarkets – Non-Eurobonds; Surcharges vary by local market.
|
*Safekeeping and transaction fees are assessed on security and currency transactions.
3
Amended Exhibit K (continued) to the Professionally Managed Portfolios Amended and Restated Custody Agreement
Additional Global Sub-Custodial Services Annual Fee Schedule at May, 2016
Base Fee - A monthly base fee per account (fund) will apply based on the number of foreign securities held.
§ |
[ ] foreign securities: $[ ]
|
§ |
[ ] foreign securities: $[ ]
|
§ |
Over [ ] foreign securities: $[ ]
|
§ |
Euroclear – 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.
|
§ |
For all other markets specified above, surcharges may apply if a security is held outside of the local market.
|
Tax Reclamation Services: Tax reclaims that have been outstanding for more than [ ] months with the client will be charged $[ ] per claim.
Miscellaneous Expenses
§ |
Charges incurred by U.S. Bank, N.A. directly or through sub-custodians for local taxes, stamp duties or other local duties and assessments, stock exchange fees, foreign exchange transactions, 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 miscellaneous 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.
|
Advisor’s Signature not required as of ________, 2017 as the fees are not being changed.
4