SECOND AMENDMENT TO THE CUSTODY AGREEMENT
SECOND AMENDMENT TO THE
THIS SECOND AMENDMENT dated as of August 17, 2016, to the Custody Agreement, originally made and entered into as of April 26, 2006, as amended August 10, 2010 (the “Agreement”), is entered into by and between TRUST FOR PROFESSIONAL MANAGERS, a Delaware statutory trust (the “Trust”) on behalf of the SNOW CAPITAL FUNDS (the “Fund”) and U.S. BANK NATIONAL ASSOCIATION, a national banking association (the “Custodian”).
RECITALS
WHEREAS, the parties have entered into the Agreement; and
WHEREAS, the parties desire to amend the series of the Trust to add the Snow Capital Dividend Plus Fund and the Snow Capital Focused Value Fund; and
WHEREAS, the parties desire to amend the fees of the Agreement; and
WHEREAS, Article 14.02 of the Agreement allows for its amendment by a written instrument executed by both parties.
NOW, THEREFORE, the parties agree as follows:
Amended Exhibit C of the Agreement is hereby superseded and replaced with Amended Exhibit C attached hereto.
Amended Exhibit D of the Agreement is hereby superseded and replaced with Amended Exhibit D attached hereto.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 Second Amendment 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. BANK NATIONAL ASSOCIATION
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By: /s/ Xxxx X. Xxxxxx
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By: /s/ Xxxxxxx X. XxXxx | |
Printed Name: Xxxx X. Xxxxxx
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Printed Name: Xxxxxxx X. XxXxx
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Title: President | Title: Senior Vice President |
1
Amended Exhibit C
Fund Names
Name of Series
Snow Capital Opportunity Fund
Snow Small Cap Value Fund
Snow Capital Dividend Plus Fund
Snow Capital Focused Value Fund
2
Amended Exhibit D to the
DOMESTIC CUSTODY SERVICES
FEE SCHEDULE effective October 1, 2016 thru September 30, 2021
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Annual Fee Based Upon Market Value Per Fund*
____ basis point on average daily market value
Minimum annual fee per fund - $____
Plus portfolio transaction fees
Portfolio Transaction Fees
$____ /book entry DTC transaction/Federal Reserve transaction/principal paydown
$____ /U.S. Bank repo agreement transaction
$____ /short sale
$____ /option/future contract written, exercised or expired
$____ /mutual fund trade/Fed wire/margin variation Fed wire
$____ /physical transaction
$____ /segregated account per year
§ A transaction is a purchase/sale of a security, free receipt/free delivery, maturity, tender or exchange.
§ No charge for the initial conversion free receipt.
§ Overdrafts – charged to the account at prime interest rate plus ____.
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, and extraordinary expenses based upon complexity.
* CPI rates for the Snow Capital Small Cap Value Fund and the Snow Capital Opportunity Fund in effect as of 10/1/16 will remain in effect and not increase for the life of the contract if the contract term is five years. Also, if the contract term is five years, CPI will not apply at all to the Dividend Plus Fund or the Focused Value Fund.
Fees are billed monthly.
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Advisor’s signature below acknowledges approval of the domestic and global fee schedules on this Amended Exhibit D
SNOW CAPITAL MANAGEMENT, L.P.
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By:
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/s/ Xxxx Xxxxx
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Printed Name and Title:
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Xxxx Xxxxx, COO
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Date: 10/11/2016 |
3
Amended Exhibit D (continued) to the Custody Agreement - Trust for Professional Managers
GLOBAL SUB-CUSTODIAL SERVICES
ANNUAL FEE SCHEDULE effective October 1, 2016 thru September 30, 2021
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||||||||
Country
|
Instrument
|
Safekeeping
(BPS)
|
Transaction
Fee
|
Country
|
Instrument
|
Safekeeping
(BPS)
|
Transaction
Fee
|
|
Argentina
|
All
|
____
|
$____
|
Lebanon
|
All
|
____
|
$____
|
|
Australia
|
All
|
____
|
$____
|
Lithuania
|
All
|
____
|
$____
|
|
Austria
|
All
|
____
|
$____
|
Luxembourg
|
All
|
____
|
$____
|
|
Bahrain
|
All
|
____
|
$____
|
Malaysia
|
All
|
____
|
$____
|
|
Bangladesh
|
All
|
____
|
$____
|
Mali*
|
All
|
____
|
$____
|
|
Belgium
|
All
|
____
|
$____
|
Malta
|
All
|
____
|
$____
|
|
Benin*
|
All
|
____
|
$____
|
Mauritius
|
All
|
____
|
$____
|
|
Bermuda
|
All
|
____
|
$____
|
Mexico
|
All
|
____
|
$____
|
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Botswana
|
All
|
____
|
$____
|
Morocco
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All
|
____
|
$____
|
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Brazil
|
All
|
____
|
$____
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Namibia
|
All
|
____
|
$____
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|
Bulgaria
|
All
|
____
|
$____
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Netherlands
|
All
|
____
|
$____
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Burkina Faso*
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All
|
____
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$____
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New Zealand
|
All
|
____
|
$____
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Canada
|
All
|
____
|
$____
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Niger*
|
All
|
____
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$____
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|
Cayman Islands*
|
All
|
____
|
$____
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Nigeria
|
All
|
____
|
$____
|
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Channel Islands*
|
All
|
____
|
$____
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Norway
|
All
|
____
|
$____
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Chile
|
All
|
____
|
$____
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Oman
|
All
|
____
|
$____
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China”A” Shares
|
All
|
____
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$____
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Pakistan
|
All
|
____
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$____
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China”B” Shares
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All
|
____
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$____
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Peru
|
All
|
____
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$____
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Columbia
|
All
|
____
|
$____
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Philippines
|
All
|
____
|
$____
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Costa Rica
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All
|
____
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$____
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Poland
|
All
|
____
|
$____
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Croatia
|
All
|
____
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$____
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Portugal
|
All
|
____
|
$____
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Cyprus*
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All
|
____
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$____
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Qatar
|
All
|
____
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$____
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Czech Republic
|
All
|
____
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$____
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Romania
|
All
|
____
|
$____
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Denmark
|
All
|
____
|
$____
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Russia
|
Equities/Bonds
|
____
|
$____
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Ecuador
|
All
|
____
|
$____
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Russia
|
MINFINs
|
____
|
$____
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Egypt
|
All
|
____
|
$____
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Senegal*
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All
|
____
|
$____
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Estonia
|
All
|
____
|
$____
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Singapore
|
All
|
____
|
$____
|
|
Euromarkets(3)
|
All
|
____
|
$____
|
Slovak Republic
|
All
|
____
|
$____
|
|
Finland
|
All
|
____
|
$____
|
Slovenia
|
All
|
____
|
$____
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|
France
|
All
|
____
|
$____
|
South Africa
|
All
|
____
|
$____
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|
Germany
|
All
|
____
|
$____
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South Korea
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All
|
____
|
$____
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Ghana
|
All
|
____
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$____
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Spain
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All
|
____
|
$____
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Greece
|
All
|
____
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$____
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Sri Lanka
|
All
|
____
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$____
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Guinea Bissau*
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All
|
____
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$____
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Swaziland
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All
|
____
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$____
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Hong Kong
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All
|
____
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$____
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Sweden
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All
|
____
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$____
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Hungary
|
All
|
____
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$____
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Switzerland
|
All
|
____
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$____
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|
Iceland
|
All
|
____
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$____
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Taiwan
|
All
|
____
|
$____
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India
|
All
|
____
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$____
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Thailand
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All
|
____
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$____
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|
Indonesia
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All
|
____
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$____
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Togo*
|
All
|
____
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$____
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Ireland
|
All
|
____
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$____
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Trinidad & Tobago*
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All
|
____
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$____
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Israel
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All
|
____
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$____
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Tunisia
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All
|
____
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$____
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Italy
|
All
|
____
|
$____
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Turkey
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All
|
____
|
$____
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Ivory Coast
|
All
|
____
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$____
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UAE
|
All
|
____
|
$____
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|
Jamaica*
|
All
|
____
|
$____
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United Kingdom
|
All
|
____
|
$____
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|
Japan
|
All
|
____
|
$____
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Ukraine
|
All
|
____
|
$____
|
|
Jordan
|
All
|
____
|
$____
|
Uruguay
|
All
|
____
|
$____
|
|
Kazakhstan
|
All
|
____
|
$____
|
Venezuela
|
All
|
____
|
$____
|
|
Kenya
|
All
|
____
|
$____
|
Vietnam*
|
All
|
____
|
$____
|
|
Latvia
|
Equities
|
____
|
$____
|
Zambia
|
All
|
____
|
$____
|
|
Latvia
|
Bonds
|
____
|
$____
|
*
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Additional customer documentation and indemnification will be required prior to establishing accounts in these markets.
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4
Amended Exhibit D (continued) to the Custody Agreement - Trust for Professional Managers
GLOBAL SUB-CUSTODIAL SERVICES
ANNUAL FEE SCHEDULE (continued) effective October 1, 2016 thru September 30, 2021
Base Fee - A monthly base charge of $____ per account (fund) will apply.
§ | 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 (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 $____. |
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 $____ per claim.
Miscellanous 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 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. |
5