BB&T FUNDS AMENDMENT TO THE CUSTODY AGREEMENT
Exhibit (g)(2)(v)
BB&T FUNDS
AMENDMENT TO THE CUSTODY AGREEMENT
AMENDMENT TO THE CUSTODY AGREEMENT
THIS AMENDMENT is made as of October 1, 2010 between U.S. Bank National Association, a
national banking association organized and existing under the laws of the United States of America
(the “Custodian”), and BB&T Funds, a Massachusetts business trust (the “Trust”).
RECITALS
WHEREAS, the Trust and the Custodian entered into the certain Custody Agreement, dated August
31, 2006 (as amended, supplemented or modified from time to time, the “Agreement”),
pursuant to which the Custodian acts as custodian of the cash and securities of each series of the
Trust and shall be compensated for providing such services set forth in the Agreement in accordance
with the fee schedule set forth on the Exhibit D thereto; and
WHEREAS, in accordance with Section 14.2 of the Agreement, the Trust and the Custodian wish to
amend the Amended and Restated Exhibit D;
NOW, THEREFORE, in consideration of the mutual promises and covenants hereinafter contained,
the parties hereby agree as follows:
1. Amendment.
Amended and Restated Exhibit D to the Agreement is hereby superseded and replaced with Amended
and Restated Exhibit D attached hereto.
2. Miscellaneous.
(a) Section headings in this Amendment are included for convenience only and are not to be
used to construe or interpret this Amendment.
(b) This Amendment may be executed in counterparts, each of which shall be an original but all
of which, taken together, shall constitute one and the same agreement.
(c) Capitalized terms used but not defined in this Amendment have the respective meanings
ascribed to them in the Agreement.
(d) Except as provided in this Amendment, the provisions of the Agreement remain unchanged and
in full force and effect.
(e) Matters Relating to the Trust as a Massachusetts Business Trust. The names “BB&T Funds”
and “Trustees of BB&T Funds” refer respectively to the Trust created and the Trustees, as trustees
but not individually or personally, acting from time to time under an
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Agreement and Declaration of Trust dated as of June 2, 2007, as amended, to which reference is
hereby made and a copy of which is on file at the Office of the Secretary of State of The
Commonwealth of Massachusetts and elsewhere as required by law, and to any and all amendments
thereto so filed or hereafter filed. The obligations of “BB&T Funds” entered into in the name or
on behalf thereof by any of the Trustees, representatives or agents are made not individually, but
in such capacities, and are not binding upon any of the Trustees, shareholders or representatives
of the Trust personally, but bind only the assets of the Trust, and all persons dealing with any
series of shares of the Trust must look solely to the assets of the Trust belonging to such series
for the enforcement of any claims against the Trust.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed all as
of the day and year first above written.
| BB&T FUNDS |
||||
| By: | /s/ Xxxx X. Xxxxxx | |||
| Name: | Xxxx X. Xxxxxx | |||
| Title: | V.P. BB&T Funds | |||
| U.S. BANK NATIONAL ASSOCIATION |
||||
| By: | /s/ Xxx X. Xxxxxxx | |||
| Name: | Xxx X. Xxxxxxx | |||
| Title: | Executive Vice President | |||
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AMENDED AND RESTATED EXHIBIT D
to the
Custody Agreement between BB&T Funds and U.S. Bank, N.A.
Fee Schedule at October 1, 2010
Custody Fees:
| • | .005% (.0005) on the first $5 billion in assets | ||
| • | .004% (.0004) on assets exceeding $5 billion |
Securities Lending Program Transfer Fees:
In addition, a fee of $8 per transfer will be assessed for each transfer of securities from
U.S. Bank, N.A. to Mellon Bank, N.A. (or an affiliate thereof) made on behalf of BB&T Funds
in connection with the BB&T Funds’ securities lending program.
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Amended and Restated Exhibit D (continued)
to the
Custody Agreement between BB&T Funds and U.S. Bank, N.A.
to the
Custody Agreement between BB&T Funds and U.S. Bank, N.A.
BB&T Funds
GLOBAL SUB-CUSTODIAL SERVICES
ANNUAL FEE SCHEDULE at October 1, 2010
GLOBAL SUB-CUSTODIAL SERVICES
ANNUAL FEE SCHEDULE at October 1, 2010
| Safekeeping | Transaction | |||||||||||
| Country | Instrument | (BPS) | Fee | |||||||||
Argentina |
All | 12.00 | $ | 32 | ||||||||
Australia |
All | 1.50 | $ | 15 | ||||||||
Austria |
All | 18.75 | $ | 17 | ||||||||
Bahrain |
All | 40.00 | $ | 112 | ||||||||
Bangladesh |
All | 32.00 | $ | 000 | ||||||||
Xxxxxxx |
All | 1.88 | $ | 22 | ||||||||
Benin* |
All | 32.00 | $ | 124 | ||||||||
Bermuda |
All | 12.00 | $ | 48 | ||||||||
Botswana |
All | 20.00 | $ | 40 | ||||||||
Brazil |
All | 11.25 | $ | 00 | ||||||||
Xxxxxxxx |
All | 32.00 | $ | 64 | ||||||||
Burkina Faso* |
All | 32.00 | $ | 000 | ||||||||
Xxxxxx |
All | 1.00 | $ | 6 | ||||||||
Cayman Islands* |
All | 0.80 | $ | 8 | ||||||||
Channel Islands* |
All | 1.20 | $ | 00 | ||||||||
Xxxxx |
All | 16.00 | $ | 48 | ||||||||
China“A” Shares |
All | 11.25 | $ | 42 | ||||||||
China“B” Shares |
All | 9.60 | $ | 42 | ||||||||
Columbia |
All | 32.00 | $ | 00 | ||||||||
Xxxxx Xxxx |
All | 12.00 | $ | 00 | ||||||||
Xxxxxxx |
All | 28.00 | $ | 52 | ||||||||
Cyprus* |
All | 12.00 | $ | 00 | ||||||||
Xxxxx Xxxxxxxx |
All | 15.00 | $ | 00 | ||||||||
Xxxxxxx |
All | 2.25 | $ | 00 | ||||||||
Xxxxxxx |
All | 28.00 | $ | 52 | ||||||||
Egypt |
All | 25.60 | $ | 64 | ||||||||
Estonia |
All | 5.60 | $ | 20 | ||||||||
Euromarkets(3) |
All | 1.00 | $ | 4 | ||||||||
Finland |
All | 3.75 | $ | 00 | ||||||||
Xxxxxx |
All | 1.88 | $ | 15 | ||||||||
Germany |
All | 1.00 | $ | 15 | ||||||||
Ghana |
All | 20.00 | $ | 40 | ||||||||
Greece |
All | 15.00 | $ | 33 | ||||||||
Guinea Bissau* |
All | 40.00 | $ | 124 | ||||||||
Hong Kong |
All | 4.20 | $ | 00 | ||||||||
Xxxxxxx |
All | 24.50 | $ | 60 | ||||||||
Iceland |
All | 12.00 | $ | 45 | ||||||||
India |
All | 48.75 | $ | 84 | ||||||||
Indonesia |
All | 9.00 | $ | 68 | ||||||||
Ireland |
All | 2.25 | $ | 00 | ||||||||
Xxxxxx |
All | 9.60 | $ | 29 | ||||||||
Italy |
All | 2.25 | $ | 24 | ||||||||
Ivory Coast |
All | 32.00 | $ | 124 | ||||||||
Jamaica* |
All | 28.00 | $ | 00 | ||||||||
Xxxxx |
All | 1.13 | $ | 8 | ||||||||
Jordan |
All | 32.00 | $ | 000 | ||||||||
Xxxxxxxxxx |
All | 48.00 | $ | 120 | ||||||||
Kenya |
All | 24.00 | $ | 00 | ||||||||
Xxxxxx |
Equities | 12.00 | $ | 00 | ||||||||
Xxxxxx |
Bonds | 20.00 | $ | 72 | ||||||||
Lebanon |
All | 20.00 | $ | 72 | ||||||||
Lithuania |
All | 16.00 | $ | 40 | ||||||||
Luxembourg |
All | 3.20 | $ | 00 | ||||||||
Xxxxxxxx |
All | 2.90 | $ | 39 | ||||||||
Mali* |
All | 32.00 | $ | 000 | ||||||||
Xxxxx |
All | 17.60 | $ | 60 | ||||||||
Mauritius |
All | 24.00 | $ | 00 | ||||||||
Xxxxxx |
All | 2.25 | $ | 10 | ||||||||
Morocco |
All | 28.00 | $ | 80 | ||||||||
Namibia |
All | 24.00 | $ | 00 | ||||||||
Xxxxxxxxxxx |
All | 2.25 | $ | 12 | ||||||||
New Zealand |
All | 2.00 | $ | 26 | ||||||||
Niger* |
All | 32.00 | $ | 000 | ||||||||
Xxxxxxx |
All | 24.00 | $ | 00 | ||||||||
Xxxxxx |
All | 2.25 | $ | 00 | ||||||||
Xxxx |
All | 40.00 | $ | 112 | ||||||||
Pakistan |
All | 24.00 | $ | 00 | ||||||||
Xxxx |
All | 35.00 | $ | 85 | ||||||||
Philippines |
All | 3.90 | $ | 36 | ||||||||
Poland |
All | 18.75 | $ | 24 | ||||||||
Portugal |
All | 11.25 | $ | 39 | ||||||||
Qatar |
All | 36.00 | $ | 000 | ||||||||
Xxxxxxx |
All | 28.00 | $ | 80 | ||||||||
Russia |
Equities/Bonds | 30.00 | $ | 165 | ||||||||
Russia |
MINFINs | 12.00 | $ | 40 | ||||||||
Senegal* |
All | 32.00 | $ | 000 | ||||||||
Xxxxxxxxx |
All | 1.50 | $ | 00 | ||||||||
Xxxxxx Xxxxxxxx |
All | 20.00 | $ | 00 | ||||||||
Xxxxxxxx |
All | 20.00 | $ | 00 | ||||||||
Xxxxx Xxxxxx |
All | 2.25 | $ | 8 | ||||||||
South Korea |
All | 7.50 | $ | 10 | ||||||||
Spain |
All | 2.25 | $ | 00 | ||||||||
Xxx Xxxxx |
All | 12.00 | $ | 48 | ||||||||
Swaziland |
All | 24.00 | $ | 40 | ||||||||
Sweden |
All | 1.50 | $ | 00 | ||||||||
Xxxxxxxxxxx |
All | 1.50 | $ | 24 | ||||||||
Taiwan |
All | 15.00 | $ | 00 | ||||||||
Xxxxxxxx |
All | 2.90 | $ | 22 | ||||||||
Togo* |
All | 32.00 | $ | 000 | ||||||||
Xxxxxxxx & Xxxxxx* |
All | 24.00 | $ | 52 | ||||||||
Tunisia |
All | 32.00 | $ | 00 | ||||||||
Xxxxxx |
All | 9.60 | $ | 10 | ||||||||
UAE |
All | 36.00 | $ | 000 | ||||||||
Xxxxxx Xxxxxxx |
All | 1.13 | $ | 5 | ||||||||
Ukraine |
All | 22.50 | $ | 29 | ||||||||
Uruguay |
All | 40.00 | $ | 52 | ||||||||
Venezuela |
All | 32.00 | $ | 100 | ||||||||
Vietnam* |
All | 32.00 | $ | 000 | ||||||||
Xxxxxx |
All | 24.00 | $ | 40 | ||||||||
| * | Additional customer documentation and indemnification will be required prior to establishing accounts in these markets. |
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| • | 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 $50. |
Out of Pocket 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 out-of-pocket 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. |
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