Exhibit 99 - h(4)
MASTER LICENSE AGREEMENT
THIS LICENSE AGREEMENT made as of this 1st day of September,
2000, by and between Deutsche Banc Alex. Xxxxx, LLC, a Maryland corporation
("Licensor"), and each Licensee listed in Appendix A. Each Licensee is a
Maryland corporation, except Flag Investors Portfolios Trust which is a New York
business trust.
W I T N E S S E T H:
WHEREAS, Licensor has a proprietary interest in the name "Flag
Investors" and in the logo used on each Licensee's prospectus (the "Flag Logo"),
which interests are recognized by each Licensee; and
WHEREAS, Licensor wishes to permit use of the name "Flag
Investors" and the Flag Logo by each Licensee, subject to the terms and
conditions set forth herein;
NOW, THEREFORE, in consideration of the foregoing and of other
good and valuable consideration, it is hereby understood and agreed as follows:
1. Each Licensee acknowledges that it adopted its corporate
name and logo through the permission of Licensor which consents to the
non-exclusive use by each Licensee of the name listed in Appendix A and the Flag
Logo only as long as Deutsche Banc Alex. Xxxxx, LLC or its affiliates serve as
each Licensee's investment advisor.
2. Each Licensee recognizes that its right to use the name
"Flag Investors" and the Flag Logo is non-exclusive and that Licensor may from
time to time permit other entities, including entities engaged in the same or
similar business as each Licensee, to use the name "Flag Investors" or the Flag
Logo.
3. Each Licensee covenants and agrees to protect, exonerate,
defend, indemnify and hold harmless Licensor, its partners, agents, officers and
employees from and against any and all costs, losses, claims, damages or
liabilities, joint or several, including all legal expenses, which may arise or
have arisen out of each Licensee's use or misuse of the name "Flag Investors" or
the Flag Logo or out of any breach of or failure to comply with this agreement.
4. Each Licensee shall not distribute or circulate any
prospectus, proxy statement, sales literature, promotional material or other
printed matter required to be filed with the Securities and Exchange Commission
under Section 24(b) of the Investment Company Act of 1940, as amended, which
contains any references to or uses the name "Flag Investors" or the Flag Logo
without the prior approval of the Licensor and shall submit, as requested, all
such materials in draft form, allowing sufficient time for review by Licensor
and its counsel prior to any deadline for printing.
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5. If Deutsche Banc Alex. Xxxxx, LLC or its affiliates or any
successor to its business shall cease to serve as each Licensee's investment
advisor, each Licensee:
(a) As promptly as practicable, will take all necessary
director or shareholder action to cause its Articles of
Incorporation to be amended to accomplish a change of the
fund's name and change of logo;
(b) Within 90 days after the termination of this agreement or
such similar contractual arrangement, shall cease to use
in any other manner, including but not limited to use in
any prospectus, sales literature or promotional material,
the name "Flag Investors" or any name, xxxx or logotype
derived from it or similar to it or indicating that each
Fund is advised, administered or distributed by or
otherwise associated with Licensor or Deutsche Banc Alex.
Xxxxx, LLC.
6. This Agreement shall be binding upon the parties hereto and
their respective successors and assigns, including any successors to the
business nor or thereafter conducted by them.
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IN WITNESS WHEREOF, Licensor and each Licensee have each
caused this Agreement to be executed by a duly authorized officer and to have
its seal affixed hereto and to be attested by its Secretary as of the day and
year first herein written.
ATTEST: DEUTSCHE BANC ALEX. XXXXX, LLC
/s/Xxxxxxx Xxxxxxxx /s/Xxx Xxxxxxxxx
------------------- ------------------------
Xxxxxxx Xxxxxxxx By: Xxx Xxxxxxxxx
Title: Managing Director
/s/Xxxx X. Xxxxxxx
By: Xxxx X. Xxxxxxx
Title: Managing Director
ATTEST: FLAG INVESTORS COMMUNICATIONS
FUND, INC., FLAG INVESTORS SERIES
FUNDS, INC., FLAG INVESTORS
EMERGING GROWTH FUND, INC.,
FLAG INVESTORS EQUITY PARTNERS
FUND, INC., FLAG INVESTORS REAL
ESTATE SECURITIES FUND, INC., FLAG
INVESTORS SHORT-INTERMEDIATE
INCOME FUND, INC., FLAG INVESTORS
VALUE BUILDER FUND, INC., FLAG
INVESTORS FUNDS, INC., FLAG
INVESTORS PORTFOLIOS TRUST
/s/Xxxxxxx Xxxxxxxx /s/Xxx X. Xxxxxx
------------------- ------------------------
Xxxxxxx Xxxxxxxx By: Xxx X. Xxxxxx
Title: Secretary
ATTEST: ISI TOTAL RETURN U.S. TREASURY
FUND, INC. on behalf FLAG INVESTORS
TOTAL RETURN U.S. TREASURY FUND
CLASS A SHARES and ISI MANAGED
MUNICIPAL FUND, INC. on behalf of
FLAG INVESTORS MANAGED
MUNICIPAL FUND CLASS A SHARES
/s/Xxxxxxx Xxxxxxxx /s/Xxxxxx X. Xxxxxxxx
------------------- ------------------------
Xxxxxxx Xxxxxxxx By: Xxxxxx X. Xxxxxxxx
Title: Vice President
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APPENDIX A
FLAG INVESTORS COMMUNICATIONS FUND, INC.
FLAG INVESTORS SERIES FUNDS, INC. on behalf of
FLAG INVESTORS INTERNATIONAL EQUITY FUND and
FLAG INVESTORS GROWTH OPPORTUNITY FUND
FLAG INVESTORS EMERGING GROWTH FUND, INC.
FLAG INVESTORS EQUITY PARTNERS FUND, INC.
FLAG INVESTORS REAL ESTATE SECURITIES FUND, INC.
FLAG INVESTORS SHORT-INTERMEDIATE INCOME FUND, INC.
FLAG INVESTORS VALUE BUILDER FUND, INC.
FLAG INVESTORS FUNDS, INC. on behalf of
FLAG INVESTORS TOP 50 WORLD
FLAG INVESTORS TOP 50 EUROPE
FLAG INVESTORS TOP 50 ASIA
FLAG INVESTORS TOP 50 US
FLAG INVESTORS EUROPEAN MID-CAP
FLAG INVESTORS JAPANESE EQUITY
FLAG INVESTORS PORTFOLIOS TRUST on behalf of
TOP 50 WORLD PORTFOLIO
TOP 50 EUROPE PORTFOLIO
TOP 50 ASIA PORTFOLIO
TOP 50 US PORTFOLIO
PROVESTA PORTFOLIO
JAPANESE EQUITY PORTFOLIO
US MONEY MARKET PORTFOLIO
COMMUNICATIONS PORTFOLIO
ISI TOTAL RETURN U.S. TREASURY FUND, INC. on behalf of
FLAG INVESTORS TOTAL RETURN U.S. TREASURY FUND CLASS A SHARES
ISI MANAGED MUNICIPAL FUND, INC. on behalf of
FLAG INVESTORS MANAGED MUNICIPAL FUND CLASS A SHARES
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