Exhibit (h)(xi)
Amendment to
Sub-Shareholder Services Agreement
between
Xxxxxxxx & Xxxxxx Trust Company
and
Federated Services Company
This Amendment to the Sub-Shareholder Services Agreement
("Agreement") between Xxxxxxxx & Ilsley Trust Company ("M&I"), as
shareholder services agent of the Xxxxxxxx Funds, Inc. ("Funds") and
Federated Services Company ("Service Provider") is made and entered
into as of the 22nd day of June, 2001.
WHEREAS, the Funds have entered into the Agreement with the
Service Provider;
WHEREAS, the Securities and Exchange Commission has adopted
Regulation S-P at 17 CFR Part 248 to protect the privacy of
individuals who obtain a financial product or service for personal,
family or household use;
WHEREAS, Regulation S-P permits financial institutions, such as
the Funds, to disclose "nonpublic personal information" ("NPI") of
its "customers" and "consumers" (as those terms are therein defined,
to affiliated and nonaffiliated third parties of the Fund for the
limited purposes of processing and servicing transactions (17 CFR ss.
248.14); for specified law enforcement and miscellaneous purposes (17
CFR ss. 248.15); and to service providers or in connection with joint
marketing arrangements (17 CFR ss. 248.13);
NOW, THEREFORE, the parties intending to be legally bound agree
as follows:
The Fund and the Service Provider hereby acknowledge that the
Fund may disclose shareholder NPI to the Service Provider as agent of
the Fund and solely in furtherance of fulfilling the Service
Provider's contractual obligations under the Agreement in the ordinary
course of business to support the Fund and its shareholders.
The Service Provider hereby agrees to be bound to use and
redisclose such NPI only for the limited purpose set forth in the
third WHEREAS clause above, that is:
A. To process transactions and service customer
relationships;
B. For certain specified law enforcement and
miscellaneous legally permitted purposes; and
C. As a fund service provider or in connection with
joint marketing arrangements solely at the direction and
discretion of the Fund, each in accordance with the
limited exceptions set forth in 17 CFR xx.xx. 248.13, 248.14
and 248.15, respectively.
The Service Provider further represents and warrants that, in
accordance with 17 CFR ss. 248.30, it has implemented safeguards by
adopting policies and procedures reasonably designed to:
A. Insure the security and confidentiality of records
and NPI of Fund customers,
B. Protect against any anticipated threats or hazards
to the security or integrity of Fund customer records and
NPI, and
C. Protect against unauthorized access to or use of
such Fund customer records or NPI that could result in
substantial harm or inconvenience to any Fund customer.
4. The Service Provider is obligated to maintain beyond the
termination date of the Agreement the confidentiality of any NPI it
receives from the Fund in connection with the Agreement or any joint
marketing arrangement, and hereby agrees that this Amendment shall
survive such termination.
WITNESS the due execution hereof this 22nd day of June, 2001.
Xxxxxxxx & Ilsley Trust Company
By: /s/ Xxxxxx X. Xxxxxxx
---------------------------
Name: Xxxxxx X. Xxxxxxx
Title: Vice President &
Securities Counsel
Federated Services Company
By: /s/ Xxxxxx X. Xxxxxx, Xx.
---------------------------------
Name: Xxxxxx X. Xxxxxx, Xx.
Title: President and Chief
Executive Officer
