AMENDMENT TO CUSTODIAN AGREEMENT
BETWEEN
AMERICAN EXPRESS TRUST COMPANY
AND
THE BANK OF NEW YORK
This Amendment made as of the 29th day of April, 2003, to the Custody Agreement
dated as of May 13, 1999 by and between American Express Trust Company
(Customer) and The Bank of New York (Custodian) (such Custodian Agreement and
all subsequent amendments hereinafter referred to as the "Custodian Agreement").
RECITALS
WHEREAS: Customer and Custodian wish to amend certain provisions of the
Custodian Agreement.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, Customer and Custodian agree as follows:
1. The fourth sentence of Section 1 of the Custodian Agreement is revised to
read as follows:
Customer shall advise Custodian of each Account whose underlying
assets are subject to ERISA; provided, however, that all Accounts
identified on Schedule IV as American Express Trust collective
investment funds or American Express Company retirement plan accounts
shall be considered subject to ERISA, unless Customer provides
Custodian written notice to the contrary.
2. Effective as of the first date indicated below, the second sentence of
Section 11 of the Custodian Agreement is hereby revised to read as follows:
This Agreement may be amended at any time by mutual agreement of the
parties hereto, except that (i) the Customer may, upon thirty (30)
days written notice to Custodian, amend Schedule IV to add or delete
any Accounts subject to the Agreement, and (ii) the Custodian may,
upon thirty (30) days written notice to the Customer, amend Schedule
II to delete any Sub-Custodian if Custodian reasonably believes that
material economic, legal or business changes, including securities
processing changes, have occurred in the market where such
Sub-Custodian operates.
3. Schedule IV of the Custodian Agreement is amended as attached hereto.
IN WITNESS WHEREOF, each party has caused this Amendment to be executed on its
behalf by its duly authorized officers as of the date first written above. All
other terms of the Custodian Agreement remain in place.
AMERICAN EXPRESS TRUST COMPANY THE BANK OF NEW YORK
By: /s/ Xxxx Xxxxx By: /s/ Xxxxxx X. XxXxxx
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Name: Xxxx Xxxxx Name: Xxxxxx X. XxXxxx
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Title: Senior Vice President Title: Vice President
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Date: 4/29/03 Date: 4/29/03
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