Exhibit (h)(4)
ANTI-MONEY LAUNDERING PROGRAM ADMINISTRATION AGREEMENT
THIS AGREEMENT (the "Agreement") is made as of the 24th day of July,
2002 by and among FAM DISTRIBUTORS, INC., a Delaware corporation ("FAMD"),
XXXXXXX XXXXX INVESTMENT MANAGERS, L.P., a Delaware limited partnership
("MLIM"), and each entity listed on Schedule 1 hereto, together with any
other entity that may from time to time become a party to this agreement by
execution of an Instrument of Accession substantially in the form attached
as Exhibit 1 hereto (each a "Fund" and collectively the "Funds").
WHEREAS, each Fund is, unless otherwise noted, registered as an open-end
management investment company as defined in Section 5(a)(1) of the
Investment Company Act of 1940, as amended (the "Investment Company Act"); and
WHEREAS, regulations adopted by the United States Department of the
Treasury (the "U.S. Treasury Department") pursuant to the USA PATRIOT Act of
2001 require such companies to develop and implement a written anti-money
laundering program reasonably designed to prevent such companies from being
used for money laundering activities or the financing of terrorist
activities; and
WHEREAS, the U.S. Treasury Department has stated that a company subject
to such regulations may delegate the implementation and operation of its
anti-money laundering program to a third party subject to certain conditions;
NOW, THEREFORE, in consideration of the premises and mutual covenants
herein contained and other good and valuable consideration the receipt of
which is hereby acknowledged, the parties hereto agree as follows:
1. Each Fund hereby delegates the implementation and operation of its
anti-money laundering program, as approved by its Board of Directors (the
"AML Program"), to FAMD.
2. FAMD shall implement and operate the AML Program in accordance with its
terms.
3. MLIM shall cooperate in all respects with the Fund and FAMD in the
implementation and operation of the AML Program and provide such
assistance as may be necessary to carry out the aims of the Program.
4. FAMD and MLIM hereby agrees to cooperate with any request from examiners of
U.S. Government agencies having jurisdiction over the Fund for information
and
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records relating to the AML Program and consents to inspection by such
examiners for purposes of the AML Program.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed by their officers designated below as of the date first written
above.
FAM DISTRIBUTORS, INC.
By:
---------------------------
Name:
Title:
XXXXXXX XXXXX INVESTMENT MANAGERS, L.P.
By:
---------------------------
Name:
Title:
THE FUNDS
listed on Schedule 1 hereto
By:
---------------------------
Name:
Title:
2
Exhibit 1
INSTRUMENT OF ACCESSION
Reference is made to the Anti-Money Laundering Program Administration
Agreement (the "Agreement") dated as of July 24, 2002 by and among FAM
Distributors, Inc. ("FAMD"), Xxxxxxx Xxxxx Investment Managers, L.P. ("MLIM")
and each entity listed on Schedule 1 thereto or which has or shall become a
party thereto by execution of an instrument of accession substantially in the
form hereof.
In order that it may become a party to the Agreement, including, without
limitation, any and all schedules and exhibits thereto, [FUND NAME] agrees
and binds itself to the terms and conditions thereof and acknowledges that by
its execution and delivery of this Instrument of Accession it shall assume
all of the obligations and shall be entitled to all of the rights of a Fund
(as such term is defined in the Agreement) as if it were an original party
thereto.
This Instrument of Accession shall take effect and shall become a part
of the Agreement immediately upon its execution and delivery.
Executed as of the date set forth below under the laws of the State of
New Jersey.
[FUND NAME]
By:
---------------------------
Name:
Title:
FAM DISTRIBUTORS, INC.
By:
---------------------------
Name:
Title:
XXXXXXX XXXXX INVESTMENT MANAGERS, L.P.
By:
---------------------------
Name:
Title:
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