Exhibit (g)(vi) under Form N-1A
Exhibit 10 under Item 601/Reg. S-K
AMENDMENT TO
FUND ACCOUNTING AGREEMENT
BETWEEN
THE BANK OF NEW YORK
AND
THE FUNDS LISTED ON SCHEDULE I TO THE FUND ACCOUNTING AGREEMENT, AS AMENDED FROM
TIME TO TIME
This Amendment (the "Amendment") dated as of November 8, 2007 between The
Bank of New York ("Bank") and the Funds listed on Schedule I to the Fund
Accounting Agreement, as amended by Exhibit A attached hereto (each a "Fund").
WHEREAS, Federated Capital Reserves Fund, Federated Government Reserves
Fund and Federated Government Reserves Fund (collectively, the "Federated
Reserves Funds") and the Bank, having executed the Fund Accounting Agreement
dated June 7, 2005, now wish to make certain changes to the provisions thereof
which provisions the Federated Reserves Funds and the Bank agree shall be deemed
by them, and each of them, to be included as of the date of this Amendment
within the Fund Accounting Agreement as if originally stated therein; and
WHEREAS, the Federated Reserves Funds and the Bank agree to the addition
of the following funds to the Fund Accounting Agreement: Government Obligations
Tax-Managed Fund, U.S. Treasury Cash Reserves, and Automated Government Cash
Reserves, each a portfolio of Money Market Obligations Trust; Federated Market
Opportunity Fund, a portfolio of Federated Equity Funds; and Federated Stock
Trust; and
WHEREAS, the Fund Accounting Agreement is amended to include a Fee
Schedule for the non-money market funds; and
WHEREAS, the Fund Accounting Agreement is amended to provide for a cap on
the Bank's liability.
NOW, THEREFORE, for good and valuable consideration the receipt and
sufficiency of which are hereby acknowledged, the Funds and Bank hereby agree as
follows:
1. The Fund Accounting Agreement is amended by including the following
language as a new paragraph 30: "In the event of any failure by the Bank
to provide Services in accordance with the standard of care set forth in
Paragraph 17 of this Agreement, the Bank's liability shall be limited to
the lesser of (x) the actual direct money damages suffered by the affected
Fund or Funds as a direct result of such failure or (y) two (2) times the
aggregate amount paid by all Funds party to this Agreement for Fund
Accounting and Administration Services under this Agreement for the
providing of such services during the twelve (12) months immediately
preceding the month in which the event giving rise to such liability
occurred. If the event occurs prior to twelve (12) months from the date
of this Amendment, then the two (2) times amount referred to in
subparagraph (y) above will be computed using the fees paid up to the
event and estimated forward for the remaining months up to twelve (12)
based on historic fund activity. Any action brought against the Bank for
claims hereunder must be brought within one year following the date the
event giving rise to the claim is discovered by or brought to the
attention of the Funds. This limitation on liability shall reset at the
end of each calendar year."
2. Schedule I of the Fund Accounting Agreement is replaced with the
Schedule I attached to this Amendment as Exhibit A.
3. The Fund Accounting Agreement is amended to include a Fee Schedule
for non-money market funds, attached to this Amendment as Exhibit B.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their duly designated officers below as of the day and year first
above written.
ACKNOWLEDGED AND AGREED:
Bank: ON BEHALF OF EACH OF THE FUNDS INDICATED ON SCHEDULE I OF THE FUND ACCOUNTING AGREEMENT, AS AMENDED FROM TIME TO
TIME.
THE BANK OF NEW
YORK
By: /s/ Xxxxxx X. By: /s/ Xxxxxxx X. Xxxxx
Xxxxxx
Title: Managing Title: Treasurer
Director
EXHIBIT A
FUND ACCOUNTING AGREEMENT
SCHEDULE I
Federated Capital Reserves Fund, a portfolio of Money Market Obligations Trust
Federated Government Reserves Fund, a portfolio of Money Market Obligations
Trust
Federated Municipal Trust, a portfolio of Money Market Obligations Trust
Government Obligations Tax-Managed Fund, a portfolio of Money Market Obligations
Trust
U.S. Treasury Cash Reserves, a portfolio of Money Market Obligations Trust
Automated Government Cash Reserves, a portfolio of Money Market Obligations
Trust
Federated Market Opportunity Fund, a portfolio of Federated Equity Funds
Federated Stock Trust
EXHIBIT B
NON-MONEY MARKET FUNDS FEE SCHEDULE
FUND ACCOUNTING AND ADMINISTRATION
ACCOUNTING/ADMINISTRATION FEE*:2 basis points per annum per Fund on the first
$500 million of the average net assets of the
Fund
1 basis point on the next $500 million
0.50 of a basis point on the remainder over $1
billion
SUBJECT TO THE FOLLOWING:
MINIMUM FEE: * $125,000 per annum per Fund
MAXIMUM FEE: * $300,000 per annum per Fund
* INCLUDES UP TO TWO SHARE CLASSES.
MULTIPLE SHARE CLASS: $500 per month for each share class in excess of two.
- 1 -
AMENDMENT TO
CUSTODY AGREEMENT
BETWEEN
THE BANK OF NEW YORK
AND
THE FUNDS LISTED ON SCHEDULE II TO THE CUSTODY AGREEMENT, AS AMENDED FROM TIME
TO TIME
This Amendment (the "Amendment") dated as of November 8, 2007 between The
Bank of New York ("Custodian") and the Funds listed on Schedule II to the
Custody Agreement, as amended by Exhibit A attached hereto (each a "Fund").
WHEREAS, the Federated Capital Reserves Fund, Federated Government
Reserves Fund and Federated Municipal Trust (collectively, the "Federated
Reserves Funds"), and Custodian, having executed the Custody Agreement dated
June 7, 2005, now wish to make certain changes to the Custody Agreement and
provisions thereof which provisions the Federated Reserves Funds and Custodian
agree shall be deemed by them, and each of them, to be included as of the date
of this Amendment within the Custody Agreement as if originally stated therein;
and
WHEREAS, the Federated Reserves Funds and the Custodian agree to the
addition of the following funds to the Custody Agreement: Government Obligations
Tax-Managed Fund, U.S. Treasury Cash Reserves, and Automated Government Cash
Reserves, each a portfolio of Money Market Obligations Trust; Federated Market
Opportunity Fund, a portfolio of Federated Equity Funds; and Federated Stock
Trust; and
WHEREAS, the Funds' Board desires to delegate certain of its
responsibilities for performing the services set forth in paragraphs (c)(1),
(c)(2) and (c)(3) of Rule 17f-5 of the Investment Company Act of 1940 to the
Custodian as Foreign Custody Manager and the Custodian agrees to accept such
delegation of responsibilities; and
WHEREAS, the Custody Agreement is amended to include a Fee Schedule for
non-money market funds;
WHEREAS, the Custody Agreement Fee Schedule for non-money market funds is
amended to reduce the interest rate on overdrafts from 2% to 1% and to include a
Global Custody Fee Schedule; and
WHEREAS, the Custody Agreement Fee Schedule for money market funds is
amended to, include three new money market funds, to reduce the interest rate on
overdrafts from 2% to 1% and to include a Global Custody Fee Schedule.
NOW, THEREFORE, for good and valuable consideration the receipt and
sufficiency of which are hereby acknowledged, the Funds and Custodian hereby
agree as follows:
1. Schedule II of the Custody Agreement and Schedule I of the Joint
Trading Account Agreement are each replaced with the Schedule II and
Schedule I respectively, attached to this Amendment as Exhibits A and B,
respectively.
2. The Custodian shall serve as Foreign Custody Manager in accordance
with the Foreign Custody Management Agreement, attached to this Amendment
as Exhibit C.
3. The Custody Agreement is amended to include a Fee Schedule for non-
money market funds, attached to this Amendment as Exhibit D.
4. The Fee Schedule for non-money market funds is hereby added to the
Custody Agreement in the form attached to this Amendment as Exhibit D.
5. The Fee Schedule for money funds is amended to include Government
Obligations Tax-Managed Fund, U.S. Treasury Cash Reserves, and Automated
Government Cash Reserves, each a portfolio of Money Market Obligations
Trust, to reduce the interest rate on overdrafts from 2% to 1% above the
actual Federal Funds rate at the end of the period and to provide a Global
Custody Fee schedule, attached to this Amendment as Exhibit E.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their duly designated officers below as of the day and year first
above written.
ACKNOWLEDGED AND AGREED:
Custodian: ON BEHALF OF EACH OF THE FUNDS INDICATED ON SCHEDULE II OF THE CUSTODY AGREEMENT, AS AMENDED FROM TIME TO
TIME.
THE BANK OF NEW YORK
By: /s/ Xxxxxx X. By: /s/ Xxxxxxx X. Xxxxx
Xxxxxx
Title: Managing Title: Treasurer
Director
EXHIBIT A
CUSTODY AGREEMENT
SCHEDULE II
Federated Capital Reserves Fund, a portfolio of Money Market Obligations Trust
Federated Government Reserves Fund, a portfolio of Money Market Obligations
Trust
Federated Municipal Trust, a portfolio of Money Market Obligations Trust
Government Obligations Tax-Managed Fund, a portfolio of Money Market Obligations
Trust
U.S. Treasury Cash Reserves, a portfolio of Money Market Obligations Trust
Automated Government Cash Reserves, a portfolio of Money Market Obligations
Trust
Federated Market Opportunity Fund, a portfolio of Federated Equity Funds
Federated Stock Trust
EXHIBIT B
JOINT TRADING ACCOUNT AGREEMENT
SCHEDULE I
Federated Capital Reserves Fund, a portfolio of Money Market Obligations Trust
Federated Government Reserves Fund, a portfolio of Money Market Obligations
Trust
Federated Municipal Trust, a portfolio of Money Market Obligations Trust
Government Obligations Tax-Managed Fund, a portfolio of Money Market Obligations
Trust
U.S. Treasury Cash Reserves, a portfolio of Money Market Obligations Trust
Automated Government Cash Reserves, a portfolio of Money Market Obligations
Trust
Federated Market Opportunity Fund, a portfolio of Federated Equity Funds
Federated Stock Trust
EXHIBIT C
FOREIGN CUSTODY MANAGER AGREEMENT
AGREEMENT made as of November 8, 2007 between the Funds listed on Schedule
I to this Agreement (the "Funds") and The Bank of New York ("BNY").
W I T N E S S E T H:
WHEREAS, the Funds desire to appoint BNY as a Foreign Custody Manager on
the terms and conditions contained herein;
WHEREAS, BNY desires to serve as a Foreign Custody Manager and perform the
duties set forth herein on the terms and conditions contained herein;
NOW THEREFORE, in consideration of the mutual promises hereinafter
contained in this Agreement, the Funds and BNY hereby agree as follows:
I. ARTICLE I
DEFINITIONS
Whenever used in this Agreement, the following words and phrases, unless
the context otherwise requires, shall have the following meanings:
1. "Board" SHALL MEAN THE BOARD OF DIRECTORS OR BOARD OF TRUSTEES, AS THE
CASE MAY BE, OF THE FUNDS.
2. "Eligible Foreign Custodian" SHALL HAVE THE MEANING PROVIDED IN THE RULE.
3. "Monitoring System" SHALL MEAN A SYSTEM ESTABLISHED BY BNY TO FULFILL THE
RESPONSIBILITIES SPECIFIED IN CLAUSES (D) AND (E) OF SECTION 1 OF ARTICLE
III OF THIS AGREEMENT.
4. "Responsibilities" SHALL MEAN THE RESPONSIBILITIES DELEGATED TO BNY UNDER
THE RULE AS A FOREIGN CUSTODY MANAGER WITH RESPECT TO EACH SPECIFIED
COUNTRY AND EACH ELIGIBLE FOREIGN CUSTODIAN SELECTED BY BNY, AS SUCH
RESPONSIBILITIES ARE MORE FULLY DESCRIBED IN ARTICLE III OF THIS
AGREEMENT.
5. "Rule" SHALL MEAN RULE 17F-5 UNDER THE INVESTMENT COMPANY ACT OF 1940, AS
AMENDED.
6. "Specified Country" SHALL MEAN EACH COUNTRY LISTED ON SCHEDULE II ATTACHED
HERETO AND EACH COUNTRY, OTHER THAN THE UNITED STATES, CONSTITUTING THE
PRIMARY MARKET FOR A SECURITY WITH RESPECT TO WHICH THE FUNDS HAS GIVEN
SETTLEMENT INSTRUCTIONS TO THE BANK OF NEW YORK AS CUSTODIAN (THE
"CUSTODIAN") UNDER ITS CUSTODY AGREEMENT WITH THE FUNDS.
I. ARTICLE II
BNY AS A FOREIGN CUSTODY MANAGER
1. THE FUNDS ON BEHALF OF ITS BOARD HEREBY DELEGATE TO BNY WITH RESPECT TO
EACH SPECIFIED COUNTRY THE RESPONSIBILITIES.
2. BNY ACCEPTS THE BOARD'S DELEGATION OF RESPONSIBILITIES WITH RESPECT TO
EACH SPECIFIED COUNTRY AND AGREES IN PERFORMING THE RESPONSIBILITIES AS A
FOREIGN CUSTODY MANAGER TO EXERCISE REASONABLE CARE, PRUDENCE AND
DILIGENCE SUCH AS A PERSON HAVING RESPONSIBILITY FOR THE SAFEKEEPING OF
THE FUNDS' ASSETS WOULD EXERCISE.
3. BNY SHALL PROVIDE TO THE BOARD AT SUCH TIMES AS THE BOARD DEEMS REASONABLE
AND APPROPRIATE BASED ON THE CIRCUMSTANCES OF THE FUNDS' FOREIGN CUSTODY
ARRANGEMENTS WRITTEN REPORTS NOTIFYING THE BOARD OF THE PLACEMENT OF
ASSETS OF THE FUNDS WITH A PARTICULAR ELIGIBLE FOREIGN CUSTODIAN WITHIN A
SPECIFIED COUNTRY AND OF ANY MATERIAL CHANGE IN THE ARRANGEMENTS
(INCLUDING THE CONTRACT GOVERNING SUCH ARRANGEMENTS) WITH RESPECT TO
ASSETS OF THE FUNDS WITH ANY SUCH ELIGIBLE FOREIGN CUSTODIAN.
I. ARTICLE III
RESPONSIBILITIES
1. SUBJECT TO THE PROVISIONS OF THIS AGREEMENT, BNY SHALL WITH RESPECT TO
EACH SPECIFIED COUNTRY SELECT AN ELIGIBLE FOREIGN CUSTODIAN. IN
CONNECTION THEREWITH, BNY SHALL: (A) DETERMINE THAT ASSETS OF THE FUNDS
HELD BY SUCH ELIGIBLE FOREIGN CUSTODIAN WILL BE SUBJECT TO REASONABLE
CARE, BASED ON THE STANDARDS APPLICABLE TO CUSTODIANS IN THE RELEVANT
MARKET IN WHICH SUCH ELIGIBLE FOREIGN CUSTODIAN OPERATES, AFTER
CONSIDERING ALL FACTORS RELEVANT TO THE SAFEKEEPING OF SUCH ASSETS,
INCLUDING, WITHOUT LIMITATION, THOSE CONTAINED IN PARAGRAPH (C)(1) OF THE
RULE; (B) DETERMINE THAT THE FUNDS' FOREIGN CUSTODY ARRANGEMENTS WITH EACH
ELIGIBLE FOREIGN CUSTODIAN ARE GOVERNED BY A WRITTEN CONTRACT WITH THE
CUSTODIAN WHICH WILL PROVIDE REASONABLE CARE FOR THE FUNDS' ASSETS BASED
ON THE STANDARDS SPECIFIED IN PARAGRAPH (C)(1) OF THE RULE; (C) DETERMINE
THAT EACH CONTRACT WITH AN ELIGIBLE FOREIGN CUSTODIAN SHALL INCLUDE THE
PROVISIONS SPECIFIED IN PARAGRAPH (C)(2)(I)(A) THROUGH (F) OF THE RULE OR,
ALTERNATIVELY, IN LIEU OF ANY OR ALL OF SUCH (C)(2)(I)(A) THROUGH (F)
PROVISIONS, SUCH OTHER PROVISIONS AS BNY DETERMINES WILL PROVIDE, IN THEIR
ENTIRETY, THE SAME OR A GREATER LEVEL OF CARE AND PROTECTION FOR THE
ASSETS OF THE FUNDS AS SUCH SPECIFIED PROVISIONS; (D) MONITOR PURSUANT TO
THE MONITORING SYSTEM THE APPROPRIATENESS OF MAINTAINING THE ASSETS OF THE
FUNDS WITH A PARTICULAR ELIGIBLE FOREIGN CUSTODIAN PURSUANT TO PARAGRAPH
(C)(1) OF THE RULE AND THE PERFORMANCE OF THE CONTRACT GOVERNING SUCH
ARRANGEMENT; AND (E) ADVISE THE FUNDS WHENEVER BNY DETERMINES UNDER THE
MONITORING SYSTEM THAT AN ARRANGEMENT (INCLUDING, ANY MATERIAL CHANGE IN
THE CONTRACT GOVERNING SUCH ARRANGEMENT) DESCRIBED IN PRECEDING CLAUSE (D)
NO LONGER MEETS THE REQUIREMENTS OF THE RULE.
2. FOR PURPOSES OF PRECEDING SECTION 1 OF THIS ARTICLE, BNY'S DETERMINATION
OF APPROPRIATENESS SHALL NOT INCLUDE, NOR BE DEEMED TO INCLUDE, ANY
EVALUATION OF COUNTRY RISKS ASSOCIATED WITH INVESTMENT IN A PARTICULAR
COUNTRY. FOR PURPOSES HEREOF, "COUNTRY RISKS" SHALL MEAN SYSTEMIC RISKS
OF HOLDING ASSETS IN A PARTICULAR COUNTRY INCLUDING BUT NOT LIMITED TO (A)
AN ELIGIBLE FOREIGN CUSTODIAN'S USE OF ANY DEPOSITORIES THAT ACT AS OR
OPERATE A SYSTEM OR A TRANSNATIONAL SYSTEM FOR THE CENTRAL HANDLING OF
SECURITIES OR ANY EQUIVALENT BOOK-ENTRIES; (B) SUCH COUNTRY'S FINANCIAL
INFRASTRUCTURE; (C) SUCH COUNTRY'S PREVAILING CUSTODY AND SETTLEMENT
PRACTICES; (D) NATIONALIZATION, EXPROPRIATION OR OTHER GOVERNMENTAL
ACTIONS; (E) REGULATION OF THE BANKING OR SECURITIES INDUSTRY; (F)
CURRENCY CONTROLS, RESTRICTIONS, DEVALUATIONS OR FLUCTUATIONS; AND (G)
MARKET CONDITIONS WHICH AFFECT THE ORDERLY EXECUTION OF SECURITIES
TRANSACTIONS OR AFFECT THE VALUE OF SECURITIES.
I. ARTICLE IV
REPRESENTATIONS
1. THE FUNDS HEREBY REPRESENT THAT: (A) THIS AGREEMENT HAS BEEN DULY
AUTHORIZED, EXECUTED AND DELIVERED BY THE FUNDS, CONSTITUTES A VALID AND
LEGALLY BINDING OBLIGATION OF THE FUNDS ENFORCEABLE IN ACCORDANCE WITH ITS
TERMS, AND NO STATUTE, REGULATION, RULE, ORDER, JUDGMENT OR CONTRACT
BINDING ON THE FUNDS PROHIBITS THE FUNDS' EXECUTION OR PERFORMANCE OF THIS
AGREEMENT; AND (B) THIS AGREEMENT HAS BEEN APPROVED AND RATIFIED BY THE
BOARD.
2. BNY HEREBY REPRESENTS THAT: (A) BNY IS DULY ORGANIZED AND EXISTING UNDER
THE LAWS OF THE STATE OF NEW YORK, WITH FULL POWER TO CARRY ON ITS
BUSINESSES AS NOW CONDUCTED, AND TO ENTER INTO THIS AGREEMENT AND TO
PERFORM ITS OBLIGATIONS HEREUNDER; (B) THIS AGREEMENT HAS BEEN DULY
AUTHORIZED, EXECUTED AND DELIVERED BY BNY, CONSTITUTES A VALID AND LEGALLY
BINDING OBLIGATION OF BNY ENFORCEABLE IN ACCORDANCE WITH ITS TERMS, AND NO
STATUTE, REGULATION, RULE, ORDER, JUDGMENT OR CONTRACT BINDING ON BNY
PROHIBITS BNY'S EXECUTION OR PERFORMANCE OF THIS AGREEMENT; AND (C) BNY
HAS ESTABLISHED THE MONITORING SYSTEM.
I. ARTICLE V
CONCERNING BNY
1. BNY SHALL NOT BE LIABLE FOR ANY COSTS, EXPENSES, DAMAGES, LIABILITIES OR
CLAIMS, INCLUDING ATTORNEYS' AND ACCOUNTANTS' FEES, SUSTAINED OR INCURRED
BY, OR ASSERTED AGAINST, THE FUNDS EXCEPT TO THE EXTENT THE SAME ARISES
OUT OF THE FAILURE OF BNY TO EXERCISE THE CARE, PRUDENCE AND DILIGENCE
REQUIRED BY SECTION 2 OF ARTICLE II HEREOF. IN NO EVENT SHALL BNY BE
LIABLE TO THE FUNDS, THE BOARD, OR ANY THIRD PARTY FOR SPECIAL, INDIRECT
OR CONSEQUENTIAL DAMAGES, OR FOR LOST PROFITS OR LOSS OF BUSINESS, ARISING
IN CONNECTION WITH THIS AGREEMENT.
2. THE FUNDS SHALL INDEMNIFY BNY AND HOLD IT HARMLESS FROM AND AGAINST ANY
AND ALL COSTS, EXPENSES, DAMAGES, LIABILITIES OR CLAIMS, INCLUDING
ATTORNEYS' AND ACCOUNTANTS' FEES, SUSTAINED OR INCURRED BY, OR ASSERTED
AGAINST, BNY BY REASON OR AS A RESULT OF ANY ACTION OR INACTION, OR
ARISING OUT OF BNY'S PERFORMANCE HEREUNDER, PROVIDED THAT THE FUNDS SHALL
NOT INDEMNIFY BNY TO THE EXTENT ANY SUCH COSTS, EXPENSES, DAMAGES,
LIABILITIES OR CLAIMS ARISES OUT OF BNY'S FAILURE TO EXERCISE THE
REASONABLE CARE, PRUDENCE AND DILIGENCE REQUIRED BY SECTION 2 OF ARTICLE
II HEREOF.
3. FOR ITS SERVICES HEREUNDER, THE FUNDS AGREE TO PAY TO BNY SUCH
COMPENSATION AND OUT-OF-POCKET EXPENSES AS PROVIDED IN THE CUSTODIAN
AGREEMENT ENTERED INTO BETWEEN BNY AND THE FUNDS.
4. BNY SHALL HAVE ONLY SUCH DUTIES AS ARE EXPRESSLY SET FORTH HEREIN. IN NO
EVENT SHALL BNY BE LIABLE FOR ANY COUNTRY RISKS ASSOCIATED WITH
INVESTMENTS IN A PARTICULAR COUNTRY.
I. ARTICLE VI
MISCELLANEOUS
1. THIS AGREEMENT CONSTITUTES THE ENTIRE AGREEMENT BETWEEN THE FUNDS AND BNY
AS A FOREIGN CUSTODY MANAGER, AND NO PROVISION IN THE CUSTODY AGREEMENT
BETWEEN THE FUNDS AND THE CUSTODIAN SHALL AFFECT THE DUTIES AND
OBLIGATIONS OF BNY HEREUNDER, NOR SHALL ANY PROVISION IN THIS AGREEMENT
AFFECT THE DUTIES OR OBLIGATIONS OF THE CUSTODIAN UNDER THE CUSTODY
AGREEMENT.
2. ANY NOTICE OR OTHER INSTRUMENT IN WRITING, AUTHORIZED OR REQUIRED BY THIS
AGREEMENT TO BE GIVEN TO BNY, SHALL BE SUFFICIENTLY GIVEN IF RECEIVED BY
IT AT ITS OFFICES AT 000 XXXXXX XXXXXX, 00XX XXXXX, XXX XXXX, XXX XXXX
00000, OR AT SUCH OTHER PLACE AS BNY MAY FROM TIME TO TIME DESIGNATE IN
WRITING.
3. ANY NOTICE OR OTHER INSTRUMENT IN WRITING, AUTHORIZED OR REQUIRED BY THIS
AGREEMENT TO BE GIVEN TO THE FUNDS SHALL BE SUFFICIENTLY GIVEN IF RECEIVED
BY IT AT ITS OFFICES AT 0000 XXXXXXXXX XXXXX, XXXXXXXXXX XX, X0000-0000 OR
AT SUCH OTHER PLACE AS THE FUNDS MAY FROM TIME TO TIME DESIGNATE IN
WRITING.
4. IN CASE ANY PROVISION IN OR OBLIGATION UNDER THIS AGREEMENT SHALL BE
INVALID, ILLEGAL OR UNENFORCEABLE IN ANY JURISDICTION, THE VALIDITY,
LEGALITY AND ENFORCEABILITY OF THE REMAINING PROVISIONS SHALL NOT IN ANY
WAY BE AFFECTED THEREBY. THIS AGREEMENT MAY NOT BE AMENDED OR MODIFIED IN
ANY MANNER EXCEPT BY A WRITTEN AGREEMENT EXECUTED BY BOTH PARTIES. THIS
AGREEMENT SHALL EXTEND TO AND SHALL BE BINDING UPON THE PARTIES HERETO,
AND THEIR RESPECTIVE SUCCESSORS AND ASSIGNS; PROVIDED HOWEVER, THAT THIS
AGREEMENT SHALL NOT BE ASSIGNABLE BY EITHER PARTY WITHOUT THE WRITTEN
CONSENT OF THE OTHER.
5. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE SUBSTANTIVE LAWS
OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES
THEREOF. THE FUNDS AND BNY HEREBY CONSENT TO THE JURISDICTION OF A STATE
OR FEDERAL COURT SITUATED IN NEW YORK CITY, NEW YORK IN CONNECTION WITH
ANY DISPUTE ARISING HEREUNDER. THE FUNDS HEREBY IRREVOCABLY WAIVES, TO
THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION WHICH IT MAY
NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUCH PROCEEDING
BROUGHT IN SUCH A COURT AND ANY CLAIM THAT SUCH PROCEEDING BROUGHT IN SUCH
A COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. THE FUNDS AND BNY EACH
HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHTS TO TRIAL BY JURY IN ANY LEGAL
PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT.
6. THE PARTIES HERETO AGREE THAT IN PERFORMING HEREUNDER, BNY IS ACTING
SOLELY ON BEHALF OF THE FUNDS AND NO CONTRACTUAL OR SERVICE RELATIONSHIP
SHALL BE DEEMED TO BE ESTABLISHED HEREBY BETWEEN BNY AND ANY OTHER PERSON
BY REASON OF THIS AGREEMENT.
7. THIS AGREEMENT MAY BE EXECUTED IN ANY NUMBER OF COUNTERPARTS, EACH OF
WHICH SHALL BE DEEMED TO BE AN ORIGINAL, BUT SUCH COUNTERPARTS SHALL,
TOGETHER, CONSTITUTE ONLY ONE INSTRUMENT.
8. THIS AGREEMENT SHALL TERMINATE SIMULTANEOUSLY WITH THE TERMINATION OF THE
CUSTODY AGREEMENT BETWEEN THE FUNDS AND THE CUSTODIAN, AND MAY OTHERWISE
BE TERMINATED BY EITHER PARTY GIVING TO THE OTHER PARTY A NOTICE IN
WRITING SPECIFYING THE DATE OF SUCH TERMINATION, WHICH SHALL BE NOT LESS
THAN THIRTY (30) DAYS AFTER THE DATE OF SUCH NOTICE.
9. THE CUSTODIAN IS EXPRESSLY PUT ON NOTICE OF THE LIMITATION OF LIABILITY AS
SET FORTH IN THE DECLARATION OF TRUST OF THOSE REGISTERED INVESTMENT
COMPANIES WHICH ARE BUSINESS TRUSTS AND AGREES THAT THE OBLIGATIONS AND
LIABILITIES ASSUMED BY A REGISTERED INVESTMENT COMPANY OR ANY SERIES
PURSUANT TO THIS AGREEMENT, INCLUDING, WITHOUT LIMITATION, ANY OBLIGATION
OR LIABILITY TO INDEMNIFY THE CUSTODIAN, SHALL BE LIMITED IN ANY CASE TO
THE RELEVANT FUND AND ITS ASSETS AND THAT THE CUSTODIAN SHALL NOT SEEK
SATISFACTION OF ANY SUCH OBLIGATION FROM THE SHAREHOLDERS OF THE RELEVANT
FUND, FROM ANY OTHER FUND OR ITS SHAREHOLDERS OR FROM THE TRUSTEES,
OFFICERS, EMPLOYEES OR AGENTS OF THE REGISTERED INVESTMENT COMPANY OR
SERIES, OR ANY OF THEM. IN ADDITION, IN CONNECTION WITH THE DISCHARGE AND
SATISFACTION OF ANY CLAIM MADE BY THE CUSTODIAN INVOLVING MORE THAN ONE
FUND, THE TRUSTEES OR OFFICERS OF SUCH FUNDS SHALL HAVE THE EXCLUSIVE
RIGHT TO DETERMINE THE APPROPRIATE ALLOCATIONS OF LIABILITY FOR ANY CLAIM
BETWEEN OR AMONG THE FUNDS.
IN WITNESS WHEREOF, the Funds and BNY have caused this Agreement to be
executed by their respective officers, thereunto duly authorized, as of the date
first above written.
THE FUNDS LISTED ON SCHEDULE I
By: /s/ Xxxxxxx X. Xxxxx
Title: Treasurer
THE BANK OF NEW YORK
By: Xxxxxx X. Xxxxxx
Title: Managing Director
SCHEDULE I
Federated Capital Reserves Fund, a portfolio of Money Market Obligations Trust
Federated Government Reserves Fund, a portfolio of Money Market Obligations
Trust
Federated Municipal Trust, a portfolio of Money Market Obligations Trust
Government Obligations Tax-Managed Fund, a portfolio of Money Market Obligations
Trust
U.S. Treasury Cash Reserves, a portfolio of Money Market Obligations Trust
Automated Government Cash Reserves, a portfolio of Money Market Obligations
Trust
Federated Market Opportunity Fund, a portfolio of Federated Equity Funds
Federated Stock Trust
SCHEDULE II
SPECIFIED COUNTRIES
Australia National Australia Bank Ltd
Austria Bank Austria Creditanstalt A.G.
Belgium ING Belgium SA/NV
Brazil Citibank N.A.
Canada Royal Bank of Canada
Czech Republic ING Bank N.V. Prague
Denmark Danske Bank
Egypt Citibank, N.A.
Finland Nordea Bank Finland plc
France BNP Paribas Securities Services/ CACEIS Bank
Germany BHF-BANK AG
Hong Kong HSBC
Hungary ING Bank (Hungary) Rt.
India Deutsche Bank AG Mumbai/ HSBC
Indonesia HSBC
Israel Bank Hapoalim B.M.
Italy Intesa Sanpaolo S.p.A.
Japan The Bank of Tokyo-Mitsubishi UFJ Ltd/ Mizuho Corporate Bank, Ltd.
Malaysia HSBC Bank Malaysia Berhad
Mexico Banco Nacional de Mexico
Netherlands ING Bank
New Zealand National Australia Bank
Norway DnB NOR Bank ASA
Poland ING Bank Xxxxxx
Portugal Banco Comercial Portugues
Singapore United Overseas Bank Limited/ DBS Bank Ltd.
South Africa Standard Bank of South Africa Limited
South Korea HSBC
Spain Banco Bilbao Vizcaya Argentaria S.A./ Santander Investment, S.A.
Sweden Skandinaviska Enskilda Banken
Switzerland Credit Suisse, Zurich
Taiwan HSBC
Turkey Garanti Bank
United Kingdom The Bank of New York/ Deutsche Bank AG London (Depository and Clearing Centre)
EXHIBIT D
NON-MONEY MARKET FUNDS FEE SCHEDULE
DOMESTIC CUSTODY (U.S. SECURITIES PROCESSING)
SAFEKEEPING, INCOME COLLECTION, TRANSACTION PROCESSING, ACCOUNT ADMINISTRATION
0.25 of a basis point per annum on the average net assets of the Fund.
U.S. SECURITY TRANSACTION CHARGES (PER TRANSACTION):
$4.50 DTC/FRB Book Entry Settlements
$4.00 Repurchase Agreements (each leg)
$5.00 Time Deposits
$5.00 Maturities
$20.00Physical Settlements, Euroclear, Options, and Futures Transactions
$5.00 Paydowns
$4.00 Wire Transfers/Checks (not related to securities settlements)
$2.00 Interfund/Account Transactions
MANUAL INSTRUCTION SURCHARGE
Transactions instructed in a manner which does not facilitate Straight-Through-
Processing will incur an additional $15 per transaction.
OUT-OF-POCKET EXPENSES
In addition to the above fee-schedule, Out-of-Pocket expenses will be charged as
incurred. These charges would include but are not limited to:
{circle}Securities pricing.
{circle}Custom electronic interfaces and/or programming beyond normal and
customary system development associated with conversion.
{circle}Local taxes, stamp duties or other assessments, including stock
exchange fees, postage and insurance for shipping, facsimile reporting,
extraordinary telecommunications fees or other unusual expenses, which are
unique to a country in which the Funds are investing.
COMPENSATING BALANCE ARRANGEMENT
The Funds and The Bank of New York have entered into a compensating balance
arrangement, which would allow the Funds to compensate the Bank for any
overdrafts by maintaining a positive cash balance the next day. Conversely, on
any day the Funds maintain a positive balance, they will be allowed to overdraw
the account as compensation. In both cases, Federal Reserve requirements,
currently 10%, will be assessed. Therefore, all overdrafts must be compensated
at 100% of the total and all positive balances will allow for an overdraft of
90% of the total.
Balances for the tax-exempt portfolios will be permitted an open-ended roll
forward. The taxable portfolios are closed out on a quarterly basis with no
carry-over to the subsequent quarter. At the end of each quarter, the average
overdraft will be assessed a fee of 1% above the actual Federal Funds rate at
the end of the period. Any average positive balance will receive an earnings
credit computed at the daily effective 90 day T-xxxx rate minus 0.25 bps on the
last day of the period. Earnings credits will be offset against the Funds'
safekeeping fees.
GLOBAL CUSTODY (NON-US SECURITIES PROCESSING)
-----------------------------------------------------------------
| Global |
| Safekeeping Fee Transaction Fee |
|Countries *(in basis points)[1] (U.S. Dollars)[2]|
-----------------------------------------------------------------
|Argentina 17.00 55|
-----------------------------------------------------------------
|Australia 1.50 25|
-----------------------------------------------------------------
|Austria 3.00 40|
-----------------------------------------------------------------
|Bahrain 50.00 140|
-----------------------------------------------------------------
|Bangladesh 50.00 145|
-----------------------------------------------------------------
|Belgium 2.50 35|
-----------------------------------------------------------------
|Bermuda 17.00 70|
-----------------------------------------------------------------
|Botswana 50.00 140|
-----------------------------------------------------------------
|Brazil 12.00 30|
-----------------------------------------------------------------
|Bulgaria 30.00 85|
-----------------------------------------------------------------
|Canada 1.00 10|
-----------------------------------------------------------------
|Chile 20.00 80|
-----------------------------------------------------------------
|China "A" Shares 15.00 80|
-----------------------------------------------------------------
|China "B" Shares 15.00 60|
-----------------------------------------------------------------
|Colombia 50.00 95|
-----------------------------------------------------------------
|Costa Rica 14.00 65|
-----------------------------------------------------------------
|Croatia 25.00 70|
-----------------------------------------------------------------
|Cyprus 15.00 35|
-----------------------------------------------------------------
|Czech Republic 18.00 50|
-----------------------------------------------------------------
|Denmark 2.00 35|
-----------------------------------------------------------------
|Ecuador 30.00 55|
-----------------------------------------------------------------
|Egypt 30.00 85|
-----------------------------------------------------------------
|Estonia 10.00 60|
-----------------------------------------------------------------
|Euromarket/Euroclear[3] 1.00 10|
-----------------------------------------------------------------
|Euromarket/Clearstream 1.00 10|
-----------------------------------------------------------------
|Finland 3.50 35|
-----------------------------------------------------------------
|France 2.00 30|
-----------------------------------------------------------------
|Germany 1.50 25|
-----------------------------------------------------------------
|Ghana 50.00 140|
-----------------------------------------------------------------
|Greece 9.00 40|
-----------------------------------------------------------------
|Hong Kong 3.00 45|
-----------------------------------------------------------------
|Hungary 20.00 55|
-----------------------------------------------------------------
|Iceland 11.00 35|
-----------------------------------------------------------------
|India 13.00 105|
-----------------------------------------------------------------
|Indonesia 11.00 80|
-----------------------------------------------------------------
|Ireland (Equities) 3.00 33|
-----------------------------------------------------------------
|Ireland (Gov't Bonds) 1.00 13|
-----------------------------------------------------------------
|Israel 20.00 40|
-----------------------------------------------------------------
|Italy 1.50 35|
-----------------------------------------------------------------
|Ivory Coast 50.00 140|
-----------------------------------------------------------------
|Jamaica 50.00 60|
-----------------------------------------------------------------
|Japan 1.75 20|
-----------------------------------------------------------------
|Jordan 50.00 140|
-----------------------------------------------------------------
|Kazakhstan 53.00 140|
-----------------------------------------------------------------
|Kenya 48.00 140|
-----------------------------------------------------------------
|Latvia 50.00 45|
-----------------------------------------------------------------
|Lebanon 50.00 140|
-----------------------------------------------------------------
|Lithuania 20.00 43|
-----------------------------------------------------------------
|Luxembourg 10.00 80|
-----------------------------------------------------------------
|Malaysia 4.50 45|
-----------------------------------------------------------------
|Malta 20.00 63|
-----------------------------------------------------------------
|Mauritius 25.00 100|
-----------------------------------------------------------------
|Mexico 6.50 30|
-----------------------------------------------------------------
|Morocco 50.00 95|
-----------------------------------------------------------------
|Namibia 50.00 60|
-----------------------------------------------------------------
|Netherlands 2.00 25|
-----------------------------------------------------------------
|New Zealand 2.00 35|
-----------------------------------------------------------------
|Nigeria 50.00 60|
-----------------------------------------------------------------
|Norway 2.50 35|
-----------------------------------------------------------------
|Oman 50.00 140|
-----------------------------------------------------------------
|Pakistan 50.00 140|
-----------------------------------------------------------------
|Peru 50.00 83|
-----------------------------------------------------------------
|Philippines 6.00 60|
-----------------------------------------------------------------
|Poland 15.00 63|
-----------------------------------------------------------------
|Portugal 5.00 50|
-----------------------------------------------------------------
|Qatar 50.00 140|
-----------------------------------------------------------------
|Romania 30.00 80|
-----------------------------------------------------------------
|Russia Equities 40.00 95|
-----------------------------------------------------------------
|Singapore 3.50 45|
-----------------------------------------------------------------
|Slovak Republic 23.00 95|
-----------------------------------------------------------------
|Slovenia 50.00 60|
-----------------------------------------------------------------
|South Africa 2.50 30|
-----------------------------------------------------------------
|South Korea 6.50 45|
-----------------------------------------------------------------
|Spain 2.50 40|
-----------------------------------------------------------------
|Sri Lanka 13.00 70|
-----------------------------------------------------------------
|Swaziland 50.00 60|
-----------------------------------------------------------------
|Sweden 2.00 30|
-----------------------------------------------------------------
|Switzerland 2.00 35|
-----------------------------------------------------------------
|Taiwan 10.00 60|
-----------------------------------------------------------------
|Thailand 5.00 50|
-----------------------------------------------------------------
|Trinidad & Tobago 50.00 53|
-----------------------------------------------------------------
|Tunisia 50.00 53|
-----------------------------------------------------------------
|Turkey 12.50 60|
-----------------------------------------------------------------
|Ukraine 75.00 250|
-----------------------------------------------------------------
|United Kingdom 0.50 10|
-----------------------------------------------------------------
|Uruguay 75.00 83|
-----------------------------------------------------------------
|Venezuela 50.00 140|
-----------------------------------------------------------------
|Zambia 50.00 140|
-----------------------------------------------------------------
|Zimbabwe 50.00 140|
-----------------------------------------------------------------
Not In Bank/Not in Custody Assets USA[4] $500 per line per annum
THIRD PARTY FOREIGN EXCHANGE SETTLEMENTS
$70 per non-USD currency movement
MINIMUM CHARGES IMPOSED BY AGENT BANKS/LOCAL ADMINISTRATORS
Brazil - 15 basis points for annual administrative charges
Colombia - USD $600 per month minimum administration charge
Ecuador - USD $800 monthly minimum per relationship
Egypt - USD $400 monthly minimum per relationship
ADDITIONAL CHARGES
Local taxes, stamp duties or other assessments, including stock exchange fees,
postage and insurance for shipping, facsimile reporting, extraordinary
telecommunications fees or other unusual expenses, which are unique to a country
in which the Funds are investing
EXHIBIT E
MONEY MARKET FUNDS FEE SCHEDULE
DOMESTIC CUSTODY (U.S. SECURITIES PROCESSING)
SAFEKEEPING, INCOME COLLECTION, TRANSACTION PROCESSING, ACCOUNT ADMINISTRATION
0.25 of a basis point per annum on the average net assets of the Fund.
U.S. SECURITY TRANSACTION CHARGES (PER TRANSACTION):
$4.50 DTC/FRB Book Entry Settlements
$4.00 Repurchase Agreements (each leg)
$5.00 Time Deposits
$5.00 Maturities
$20.00Physical Settlements, Euroclear, Options, and Futures Transactions
$5.00 Paydowns
$4.00 Wire Transfers/Checks (not related to securities settlements)
$2.00 Interfund/Account Transactions
MANUAL INSTRUCTION SURCHARGE
Transactions instructed in a manner which does not facilitate Straight-Through-
Processing will incur an additional $15 per transaction.
OUT-OF-POCKET EXPENSES
In addition to the above fee-schedule, Out-of-Pocket expenses will be charged as
incurred. These charges would include but are not limited to:
{circle}Securities pricing
{circle}Custom electronic interfaces and/or programming beyond normal and
customary system development associated with conversion.
{circle}Local taxes, stamp duties or other assessments, including stock
exchange fees, postage and insurance for shipping, facsimile reporting,
extraordinary telecommunications fees or other unusual expenses, which are
unique to a country in which the Funds are investing.
COMPENSATING BALANCE ARRANGEMENT
The Funds and The Bank of New York have entered into a compensating balance
arrangement, which would allow the Funds to compensate the Bank for any
overdrafts by maintaining a positive cash balance the next day. Conversely, on
any day the Funds maintain a positive balance, they will be allowed to overdraw
the account as compensation. In both cases, Federal Reserve requirements,
currently 10%, will be assessed. Therefore, all overdrafts must be compensated
at 100% of the total and all positive balances will allow for an overdraft of
90% of the total.
Balances for the tax-exempt portfolios will be permitted an open-ended roll
forward. The taxable portfolios are closed out on a quarterly basis with no
carry-over to the subsequent quarter. At the end of each quarter, the average
overdraft will be assessed a fee of 1% above the actual Federal Funds rate at
the end of the period. Any average positive balance will receive an earnings
credit computed at the daily effective 90 day T-xxxx rate minus 0.25 bps on the
last day of the period. Earnings credits will be offset against the Funds'
safekeeping fees.
GLOBAL CUSTODY (NON-US SECURITIES PROCESSING)
------------------------------------------------------------
| Global |
| Safekeeping Fee Transaction Fee|
|Countries *(in basis points)1 (U.S. Dollars)2|
------------------------------------------------------------
|Argentina 17.00 55|
------------------------------------------------------------
|Australia 1.50 25|
------------------------------------------------------------
|Austria 3.00 40|
------------------------------------------------------------
|Bahrain 50.00 140|
------------------------------------------------------------
|Bangladesh 50.00 145|
------------------------------------------------------------
|Belgium 2.50 35|
------------------------------------------------------------
|Bermuda 17.00 70|
------------------------------------------------------------
|Botswana 50.00 140|
------------------------------------------------------------
|Brazil 12.00 30|
------------------------------------------------------------
|Bulgaria 30.00 85|
------------------------------------------------------------
|Canada 1.00 10|
------------------------------------------------------------
|Chile 20.00 80|
------------------------------------------------------------
|China "A" Shares 15.00 80|
------------------------------------------------------------
|China "B" Shares 15.00 60|
------------------------------------------------------------
|Colombia 50.00 95|
------------------------------------------------------------
|Costa Rica 14.00 65|
------------------------------------------------------------
|Croatia 25.00 70|
------------------------------------------------------------
|Cyprus 15.00 35|
------------------------------------------------------------
|Czech Republic 18.00 50|
------------------------------------------------------------
|Denmark 2.00 35|
------------------------------------------------------------
|Ecuador 30.00 55|
------------------------------------------------------------
|Egypt 30.00 85|
------------------------------------------------------------
|Estonia 10.00 60|
------------------------------------------------------------
|Euromarket/Euroclear3 1.00 10|
------------------------------------------------------------
|Euromarket/Clearstream 1.00 10|
------------------------------------------------------------
|Finland 3.50 35|
------------------------------------------------------------
|France 2.00 30|
------------------------------------------------------------
|Germany 1.50 25|
------------------------------------------------------------
|Ghana 50.00 140|
------------------------------------------------------------
|Greece 9.00 40|
------------------------------------------------------------
|Hong Kong 3.00 45|
------------------------------------------------------------
|Hungary 20.00 55|
------------------------------------------------------------
|Iceland 11.00 35|
------------------------------------------------------------
|India 13.00 105|
------------------------------------------------------------
|Indonesia 11.00 80|
------------------------------------------------------------
|Ireland (Equities) 3.00 33|
------------------------------------------------------------
|Ireland (Gov't Bonds) 1.00 13|
------------------------------------------------------------
|Israel 20.00 40|
------------------------------------------------------------
|Italy 1.50 35|
------------------------------------------------------------
|Ivory Coast 50.00 140|
------------------------------------------------------------
|Jamaica 50.00 60|
------------------------------------------------------------
|Japan 1.75 20|
------------------------------------------------------------
|Jordan 50.00 140|
------------------------------------------------------------
|Kazakhstan 53.00 140|
------------------------------------------------------------
|Kenya 48.00 140|
------------------------------------------------------------
|Latvia 50.00 45|
------------------------------------------------------------
|Lebanon 50.00 140|
------------------------------------------------------------
|Lithuania 20.00 43|
------------------------------------------------------------
|Luxembourg 10.00 80|
------------------------------------------------------------
|Malaysia 4.50 45|
------------------------------------------------------------
|Malta 20.00 63|
------------------------------------------------------------
|Mauritius 25.00 100|
------------------------------------------------------------
|Mexico 6.50 30|
------------------------------------------------------------
|Morocco 50.00 95|
------------------------------------------------------------
|Namibia 50.00 60|
------------------------------------------------------------
|Netherlands 2.00 25|
------------------------------------------------------------
|New Zealand 2.00 35|
------------------------------------------------------------
|Nigeria 50.00 60|
------------------------------------------------------------
|Norway 2.50 35|
------------------------------------------------------------
|Oman 50.00 140|
------------------------------------------------------------
|Pakistan 50.00 140|
------------------------------------------------------------
|Peru 50.00 83|
------------------------------------------------------------
|Philippines 6.00 60|
------------------------------------------------------------
|Poland 15.00 63|
------------------------------------------------------------
|Portugal 5.00 50|
------------------------------------------------------------
|Qatar 50.00 140|
------------------------------------------------------------
|Romania 30.00 80|
------------------------------------------------------------
|Russia Equities 40.00 95|
------------------------------------------------------------
|Singapore 3.50 45|
------------------------------------------------------------
|Slovak Republic 23.00 95|
------------------------------------------------------------
|Slovenia 50.00 60|
------------------------------------------------------------
|South Africa 2.50 30|
------------------------------------------------------------
|South Korea 6.50 45|
------------------------------------------------------------
|Spain 2.50 40|
------------------------------------------------------------
|Sri Lanka 13.00 70|
------------------------------------------------------------
|Swaziland 50.00 60|
------------------------------------------------------------
|Sweden 2.00 30|
------------------------------------------------------------
|Switzerland 2.00 35|
------------------------------------------------------------
|Taiwan 10.00 60|
------------------------------------------------------------
|Thailand 5.00 50|
------------------------------------------------------------
|Trinidad & Tobago 50.00 53|
------------------------------------------------------------
|Tunisia 50.00 53|
------------------------------------------------------------
|Turkey 12.50 60|
------------------------------------------------------------
|Ukraine 75.00 250|
------------------------------------------------------------
|United Kingdom 0.50 10|
------------------------------------------------------------
|Uruguay 75.00 83|
------------------------------------------------------------
|Venezuela 50.00 140|
------------------------------------------------------------
|Zambia 50.00 140|
------------------------------------------------------------
|Zimbabwe 50.00 140|
------------------------------------------------------------
Not In Bank/Not in Custody Assets USA4 $500 per line per annum
THIRD PARTY FOREIGN EXCHANGE SETTLEMENTS
$70 per non-USD currency movement
MINIMUM CHARGES IMPOSED BY AGENT BANKS/LOCAL ADMINISTRATORS
Brazil - 15 basis points for annual administrative charges
Colombia - USD $600 per month minimum administration charge
Ecuador - USD $800 monthly minimum per relationship
Egypt - USD $400 monthly minimum per relationship
ADDITIONAL CHARGES
Local taxes, stamp duties or other assessments, including stock exchange fees,
postage and insurance for shipping, facsimile reporting, extraordinary
telecommunications fees or other unusual expenses, which are unique to a country
in which the Funds are investing
Footnotes
[1] Fee is expressed in basis points (b.p.) per annum where 1b.p. equals one
hundredth of one percent (i.e. 0.01%) and is calculated based upon month-
end market value, unless stated otherwise.
[2] A transaction is defined as a receipt or deliver-versus-payment, a free
receive or deliver, maturities, or security transaction related to
corporate events.
[3] 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). NOTE: For all
other markets listed above, surcharges may apply if a security is held
outside of the local market.
[4] This fee will be applicable for assets held on The Bank of New York Mellon's
custody or accounting systems but not held in custody within The Bank of
New York Mellon's network of subcustodian banks and agents.
- 2 -
