SUPPLEMENTAL AGREEMENT TO
ANTI-MONEY LAUNDERING AMENDMENT
WHEREAS, PFPC Inc. ("PFPC") and Hawaiian Tax-Free Trust (the "Fund") have
entered into an Anti-Money Laundering Amendment (the "Amendment") dated October
23, 2002, which amends the Transfer Agency Agreement between PFPC and the Fund;
and
WHEREAS, PFPC and the Fund wish to clarify the scope of the Amendment by
entering into this Supplemental Agreement;
NOW THEREFORE, PFPC and the Fund agree as follows:
The Amendment does not apply to Section 326 (i.e., Customer
Identification Procedures ("CIP")) of the PATRIOT Act (or other
sections other than Section 352) or regulations promulgated
thereunder. If the parties agree in the future that PFPC will provide
services to help the Fund satisfy its obligations under regulations
promulgated under Section 326, fees for such services ("CIP Fees")
shall not exceed, on a per covered account or shareholder or volume
basis or any other basis upon which PFPC charges CIP Fees, the median
fees charged by PFPC among all of PFPC's full-service transfer agency
clients paying CIP Fees. The parties recognize that PFPC intends to
have a standard fee schedule for CIP Fees charged to its full-service
transfer agency clients, and that the language in the immediately
preceding sentence is necessary in lieu of language operating similar
to a "Most Favored Nation" clause because, notwithstanding this
intention, PFPC may be prohibited from charging certain clients for
CIP services.
This Supplemental Agreement contains the entire understanding between the
parties with respect to the issues contemplated hereby. Except as expressly set
forth herein, the Amendment shall remain unaffected hereby.
IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Agreement
to be executed by their duly authorized officers, as of the day and year first
above written.
HAWAIIAN TAX-FREE TRUST
By: /s/ Xxxxx X. Xxxxxxxx
_____________________________________
Name: Xxxxx X. Xxxxxxxx
Title: President
PFPC INC.
By: /s/ Xxxxx X. Xxxxxx
______________________________________
Name: Xxxxx X. Xxxxxx
Title: Vice President and Director
Transfer Agency Division
