CUSTODY AGREEMENT THIS AGREEMENT is made effective the _ day of ________, 2000, by and between STATE STREET BANK AND TRUST COMPANY, a Massachusetts trust company, having its principal office and place of business at 225 Franklin Street, Boston,...

CUSTODY AGREEMENT

THIS AGREEMENT is made effective the ___ day of __________, 2000, by and
between STATE STREET BANK AND TRUST COMPANY, a Massachusetts trust company,
having its principal office and place of business at 000 Xxxxxxxx Xxxxxx,
Xxxxxx, Xxxxxxxxxxxxx 00000 ("State Street"), and SENTINEL GROUP FUNDS, INC.,
SENTINEL PENNSYLVANIA TAX-FREE TRUST, and SENTINEL VARIABLE PRODUCTS TRUST, each
having its principal office and place of business at National Life Drive,
Montpelier, Vermont 05604 (each a "Fund").

WHEREAS, Fund desires to appoint State Street as custodian of the assets of
the Fund's investment portfolio or portfolios (each a "Portfolio", and
collectively the "Portfolios"); and

WHEREAS, State Street is willing to accept such appointment on the terms
and conditions hereinafter set forth;

NOW THEREFORE, for and in consideration of the mutual promises contained
herein, the parties hereto, intending to be legally bound, mutually covenant and
agree as follows:

1. APPOINTMENT OF CUSTODIAN AND AGENT. Fund hereby constitutes and appoints
State Street as custodian of the investment securities, interests in loans
and other non-cash investment property, and monies at any time owned by
each of the Portfolios and delivered to State Street as custodian hereunder
("Assets").

2. REPRESENTATIONS AND WARRANTIES.

A. Each Fund hereby represents, warrants and acknowledges to State
Street:

1. That it is a corporation or trust duly organized and existing and
in good standing under the laws of its state of organization, and
that it is registered under the Investment Company Act of 1940,
as amended (the "1940 Act"); and

2. That it has the requisite power and authority under applicable
law, its articles of incorporation and bylaws or its declaration
of trust, to enter into this Agreement; it has taken all
requisite action necessary to appoint State Street as custodian
for the Portfolios; this Agreement has been duly executed and
delivered by Fund; and this Agreement constitutes a legal, valid
and binding obligation of Fund, enforceable in accordance with
its terms.

B. State Street hereby represents, warrants and acknowledges to each
Fund:

1. That it is a trust company duly organized and existing and in
good standing under the laws of the Commonwealth of
Massachusetts; and

2. That it has the requisite power and authority under applicable
law, its charter and its bylaws to enter into and perform this
Agreement; this Agreement has been duly executed and delivered by
State Street; and this Agreement

constitutes a legal, valid and binding obligation of State
Street, enforceable in accordance with its terms.

3. DUTIES AND RESPONSIBILITIES OF THE PARTIES.

A. Delivery of Assets. Except as permitted by the 1940 Act, Fund will
deliver or cause to be delivered to State Street on the effective date
hereof, or as soon thereafter as practicable, and from time to time
thereafter, all Assets acquired by, owned by or from time to time
coming into the possession of each of the Portfolios during the term
hereof. State Street has no responsibility or liability whatsoever for
or on account of assets not so delivered.

B. Delivery of Accounts and Records. Fund will turn over or cause to be
turned over to State Street all of each Portfolio's relevant accounts
and records needed by State Street to perform its duties and
responsibilities hereunder fully and properly. State Street may rely
conclusively on the completeness and correctness of such accounts and
records.

C. Delivery of Assets to Third Parties. State Street will receive
delivery of and keep safely the Assets of each Portfolio segregated in
a separate account. Upon delivery of any such Assets to a subcustodian
appointed pursuant hereto (hereinafter referred to as "Subcustodian"),
State Street will create and maintain records identifying such Assets
as belonging to the applicable Portfolio. State Street is responsible
for the safekeeping of the Assets only until they have been
transmitted to and received by other persons as permitted under the
terms hereof, except for Assets transmitted to Subcustodians, for
which State Street remains responsible to the extent provided herein.
State Street may participate directly or indirectly through a
subcustodian in the Depository Trust Company (DTC), Treasury/Federal
Reserve Book Entry System (Fed System), Participant Trust Company
(PTC) or other depository approved by Fund (as such entities are
defined at 17 CFR Section 270.17f-4(b)) (each a "Depository" and
collectively the "Depositories"). State Street will be responsible to
Fund for any loss, damage or expense suffered or incurred by Fund
resulting from the actions or omissions of any Depository only to the
same extent such Depository is responsible to State Street.

D. Registration. State Street will at all times hold registered Assets in
the name of State Street as custodian, the applicable Portfolio, or a
nominee of either of them, unless specifically directed by
Instructions, as hereinafter defined, to hold such registered Assets
in so-called "street name;" provided that, in any event, State Street
will hold all such Assets in an account of State Street as custodian
containing only Assets of the applicable Portfolio, or only assets
held by State Street as a fiduciary or custodian for customers; and
provided further, that State Street's records at all times will
indicate the Portfolio or other customer for which such Assets are
held and the respective interests therein. If, however, Fund directs
State Street to maintain Assets in "street name", notwithstanding
anything contained herein to the contrary, State Street will be
obligated only to utilize its best efforts to timely collect income
due the

Portfolio on such Assets and to notify the Portfolio of relevant
information, such as maturities and pendency of calls, and corporate
actions including, without limitation, calls for redemption, tender or
exchange offers, declaration, record and payment dates and amounts of
any dividends or income, reorganization, recapitalization, merger,
consolidation, split-up of shares, change of par value, or conversion
("Corporate Actions"). All Assets and the ownership thereof by
Portfolio will at all times be identifiable on the records of State
Street. Fund agrees to hold State Street and its nominee harmless for
any liability as a shareholder of record of securities held in
custody.

E. Exchange. Upon receipt of Instructions, State Street will exchange, or
cause to be exchanged, Assets held for the account of a Portfolio for
other Assets issued or paid in connection with any Corporate Action or
otherwise, and will deposit any such Assets in accordance with the
terms of any such Corporate Action. Without Instructions, State Street
is authorized to exchange Assets in temporary form for Assets in
definitive form, to effect an exchange of shares when the par value of
stock is changed, and, upon receiving payment therefor, to surrender
bonds or other Assets at maturity or when advised of earlier call for
redemption, except that State Street will receive Instruction prior to
surrendering any convertible security.

F. Purchases of Investments -- Other Than Options and Futures. On each
business day on which a Portfolio makes a purchase of Assets other
than options and futures, Fund will deliver to State Street
Instructions specifying with respect to each such purchase:

1. If applicable, the name of the Portfolio making such purchase;
2. The name of the issuer and description of the Asset;
3. The number of shares and the principal amount purchased, and
accrued interest, if any;
4. The trade date;
5. The settlement date;
6. The purchase price per unit and the brokerage commission, taxes
and other expenses payable in connection with the purchase;
7. The total amount payable upon such purchase;
8. The name of the person from whom or the broker or dealer through
whom the purchase was made; and
9. Whether the Asset is to be received in certificated form or via a
specified Depository.

In accordance with such Instructions, State Street will pay for out of
monies held for the purchasing Portfolio, but only insofar as such
monies are available for such purpose, and receive the Assets so
purchased by or for the account of such Portfolio, except that State
Street, or a Subcustodian, may in its sole discretion advance funds to
such Portfolio which may result in an overdraft because the monies
held on behalf of such Portfolio are insufficient to pay the total
amount payable upon such purchase. Except as otherwise instructed by
Fund, State Street will make such payment only upon receipt of Assets:
(a) by State Street; (b) by a clearing corporation of a national

exchange of which State Street is a member; or (c) by a Depository.
Notwithstanding the foregoing, (i) State Street may release funds to a
Depository prior to the receipt of advice from the Depository that the
Assets underlying a repurchase agreement have been transferred by
book-entry into the account maintained with such Depository by State
Street on behalf of its customers; provided that State Street's
instructions to the Depository require that the Depository make
payment of such funds only upon transfer by book-entry of the Assets
underlying the repurchase agreement in such account; (ii) State Street
may make payment for time deposits, call account deposits, currency
deposits and other deposits, foreign exchange transactions, futures
contracts or options, before receipt of an advice or confirmation
evidencing said deposit or entry into such transaction; and (iii)
State Street may make, or cause a Subcustodian to make, payment for
the purchase of Assets the settlement of which occurs outside of the
United States of America in accordance with generally accepted local
custom and market practice.

G. Sales and Deliveries of Investments -- Other Than Options and Futures.
On each business day on which a Portfolio makes a sale of Assets other
than options and futures, Fund will deliver to State Street
Instructions specifying with respect to each such sale:

1. If applicable, the name of the Portfolio making such sale;
2. The name of the issuer and description of the Asset;
3. The number of shares and principal amount sold, and accrued
interest, if any;
4. The date on which the Assets sold were purchased or other
information identifying the Assets sold and to be delivered;
5. The trade date;
6. The settlement date;
7. The sale price per unit and the brokerage commission, taxes or
other expenses payable in connection with such sale;
8. The total amount to be received by the Portfolio upon such sale;
and
9. The name and address of the broker or dealer through whom or
person to whom the sale was made.

State Street will deliver or cause to be delivered the Assets thus
designated as sold for the account of the selling Portfolio as
specified in the Instructions. Except as otherwise instructed by Fund,
State Street will make such delivery upon receipt of: (a) payment
therefor in such form as is satisfactory to State Street; (b) credit
to the account of State Street with a clearing corporation of a
national securities exchange of which State Street is a member; or (c)
credit to the account maintained by State Street on behalf of its
customers with a Depository. Notwithstanding the foregoing: (i) State
Street will deliver Assets held in physical form in accordance with
"street delivery custom" to a broker or its clearing agent; or (ii)
State Street may make, or cause a Subcustodian to make, delivery of
Assets the settlement of which occurs outside of the United States of
America upon payment therefor in accordance with generally accepted
local custom and market practice.

H. Purchases or Sales of Options and Futures. On each business day on
which a Portfolio makes a purchase or sale of the options and/or
futures listed below, Fund will deliver to State Street Instructions
specifying with respect to each such purchase or sale:

1. If applicable, the name of the Portfolio making such purchase or
sale;

2. In the case of security options:

a. The underlying security;
b. The price at which purchased or sold;
c. The expiration date;
d. The number of contracts;
e. The exercise price;
f. Whether the transaction is an opening, exercising, expiring
or closing transaction;
g. Whether the transaction involves a put or call;
h. Whether the option is written or purchased;
i. Market on which option traded; and
j. Name and address of the broker or dealer through whom the
sale or purchase was made.

3. In the case of options on indices:

a. The index;
b. The price at which purchased or sold;
c. The exercise price;
d. The premium;
e. The multiple;
f. The expiration date;
g. Whether the transaction is an opening, exercising, expiring
or closing transaction;
h. Whether the transaction involves a put or call;
i. Whether the option is written or purchased; and
j. The name and address of the broker or dealer through whom
the sale or purchase was made, or other applicable
settlement instructions.

4. In the case of security index futures contracts:

a. The last trading date specified in the contract and, when
available, the closing level, thereof;
b. The index level on the date the contract is entered into;
c. The multiple;
d. Any margin requirements;
e. The need for a segregated margin account (in addition to
Instructions, and if not already in the possession of State
Street, Fund will deliver a substantially complete and
executed custodial safekeeping account and procedural
agreement, incorporated herein by reference); and

f. The name and address of the futures commission merchant
through whom the sale or purchase was made, or other
applicable settlement instructions.

5. In the case of options on index future contracts:

a. The underlying index future contract;
b. The premium;
c. The expiration date;
d. The number of options;
e. The exercise price;
f. Whether the transaction involves an opening, exercising,
expiring or closing transaction;
g. Whether the transaction involves a put or call;
h. Whether the option is written or purchased; and
i. The market on which the option is traded.

I. Assets Pledged or Loaned. If specifically allowed for in the
prospectus of a Portfolio, and subject to such additional terms and
conditions as State Street may require:

1. Upon receipt of Instructions, State Street will release or cause
to be released Assets to the designated pledgee by way of pledge
or hypothecation to secure any loan incurred by a Portfolio;
provided, however, that State Street will release Assets only
upon payment to State Street of the monies borrowed, except that
in cases where additional collateral is required to secure a
borrowing already made, further Assets may be released or caused
to be released for that purpose. Upon receipt of Instructions,
State Street will pay, but only from funds available for such
purpose, any such loan upon redelivery to it of the Assets
pledged or hypothecated therefor and upon surrender of the note
or notes evidencing such loan.

2. Upon receipt of Instructions, State Street will release Assets to
the designated borrower; provided, however, that the Assets will
be released only upon deposit with State Street of full cash
collateral as specified in such Instructions, and that the
lending Portfolio will retain the right to any dividends,
interest or distribution on such loaned Assets. Upon receipt of
Instructions and the loaned Assets, State Street will release the
cash collateral to the borrower.

J. Routine Matters. State Street will, in general, attend to all routine
and mechanical matters in connection with the sale, exchange,
substitution, purchase, transfer, or other dealings with the Assets
except as may be otherwise provided herein or upon Instruction from
Fund.

K. Deposit Accounts. State Street will open and maintain one or more
special purpose deposit accounts for each Portfolio in the name of
State Street in such banks or trust

companies (including, without limitation, affiliates of State Street)
as may be designated by it or Fund in writing ("Accounts"), subject
only to draft or order by State Street upon receipt of Instructions.
State Street will deposit all monies received by State Street from or
for the account of a Portfolio in an Account maintained for such
Portfolio. Subject to Section 5.L hereof, State Street agrees:

1. To make Fed Funds available to the applicable Portfolio at 9:00
a.m., Kansas City time, on the second business day after deposit
of any check into an Account, in the amount of the check;

2. To make funds available immediately upon a deposit made by
Federal Reserve wire; and

3. To make funds available on the next business day after deposit of
ACH wires.

L. Income and Other Payments. State Street will:

1. Collect, claim and receive and deposit for the account of the
applicable Portfolio all income (including income from the
Accounts) and other payments which become due and payable on or
after the effective date hereof with respect to the Assets, and
credit the account of such Portfolio in accordance with the
schedule attached hereto as Exhibit A. If, for any reason, a
Portfolio is credited with income that is not subsequently
collected, State Street may reverse that credited amount. If
monies are collected after such reversal, State Street will
credit the Portfolio in that amount;

2. Execute ownership and other certificates and affidavits for all
federal, state and local tax purposes in connection with the
collection of bond and note coupons; and

3. Take such other action as may be necessary or proper in
connection with (a) the collection, receipt and deposit of such
income and other payments, including but not limited to the
presentation for payment of all coupons and other income items
requiring presentation; and all other Assets which may mature or
be called, redeemed, retired or otherwise become payable and
regarding which State Street has actual knowledge, or should
reasonably be expected to have knowledge; and (b) the endorsement
for collection, in the name of Fund or a Portfolio, of all
checks, drafts or other negotiable instruments.

State Street, however, will not be required to institute suit or take
other extraordinary action to enforce collection except upon receipt
of Instructions and upon being indemnified to its satisfaction against
the costs and expenses of such suit or other actions. State Street
will receive, claim and collect all stock dividends, rights and other
similar items and will deal with the same pursuant to Instructions.

M. Proxies and Notices. State Street will promptly deliver or mail (or
have delivered or mailed) to Fund all proxies properly signed, all
notices of meetings, all proxy statements and other notices, requests
or announcements affecting or relating to Assets and will, upon
receipt of Instructions, execute and deliver or mail (or cause its
nominee to execute and deliver or mail) such proxies or other
authorizations as may be required. Except as provided herein or
pursuant to Instructions hereafter received by State Street, neither
it nor its nominee will exercise any power inherent in any such
Assets, including any power to vote the same, or execute any proxy,
power of attorney, or other similar instrument voting any of such
Assets, or give any consent, approval or waiver with respect thereto,
or take any other similar action.

N. Disbursements. State Street will pay or cause to be paid, insofar as
funds are available for the purpose, bills, statements and other
obligations of each Portfolio (including but not limited to
obligations in connection with the conversion, exchange or surrender
of Assets, interest charges, dividend disbursements, taxes, management
fees, custodian fees, legal fees, auditors' fees, transfer agents'
fees, brokerage commissions, compensation to personnel, and other
operating expenses of such Portfolio) pursuant to Instructions setting
forth the name of the person to whom payment is to be made, and the
amount and purpose of the payment.

O. Daily Statement of Accounts. State Street will, within a reasonable
time, render to Fund a detailed statement of the amounts received or
paid and of Assets received or delivered for the account of each
Portfolio during each business day. State Street will maintain such
books and records as are necessary to enable it to render, from time
to time upon request by Fund, a detailed statement of the Assets.
State Street will permit, and upon Instruction will cause any
Subcustodian to permit, such persons as are authorized by Fund,
including Fund's independent public accountants, reasonable access to
such records or will provide reasonable confirmation of the contents
of such records, and if demanded, State Street will permit, and will
cause any Subcustodian to permit, federal and state regulatory
agencies to examine the Assets, books and records of the Portfolios.

P. Appointment of Subcustodians. Notwithstanding any other provisions
hereof:

1. All or any of the Assets may be held in State Street's own
custody or in the custody of one or more other banks or trust
companies (including, without limitation, affiliates of State
Street) acting as Subcustodians as may be selected by State
Street. Any such Subcustodian selected by State Street must have
the qualifications required for a custodian under the 0000 Xxx.
Xxxxx Xxxxxx will be responsible to the applicable Portfolio for
any loss, damage or expense suffered or incurred by such
Portfolio resulting from the actions or omissions of any
Subcustodians selected and appointed by State Street (except
Subcustodians appointed at the request of Fund and as provided in
Subsection 2 below) to the same extent State Street would be
responsible to Fund hereunder if it committed the act or omission
itself.

2. Upon request of Fund, State Street will contract with other
Subcustodians reasonably acceptable to State Street for purposes
of (a) effecting third-party repurchase transactions with banks,
brokers, dealers, or other entities through the use of a common
custodian or subcustodian, or (b) providing depository and
clearing agency services with respect to certain variable rate
demand note securities, or (c) for other reasonable purposes
specified by Fund; provided, however, that State Street will be
responsible to Fund for any loss, damage or expense suffered or
incurred by Fund resulting from the actions or omissions of any
such Subcustodian only to the same extent such Subcustodian is
responsible to State Street. Fund may review State Street's
contracts with such Subcustodians.

3. Each Portfolio's foreign securities and cash or cash equivalents,
in amounts deemed by Fund to be reasonably necessary to effect
such Portfolio's foreign securities transactions, may be held in
the custody of one or more banks or trust companies acting as
Subcustodians ("Global Subcustodian"), and thereafter, pursuant
to a written contract or contracts as approved by Fund, may be
transferred to accounts maintained by any such Global
Subcustodian with foreign custodians ("Foreign Custodian"). State
Street will be responsible to Fund for any loss, damage or
expense suffered or incurred by Fund resulting from the actions
or omissions of any Foreign Custodian only to the same extent
such subcustodian is liable to the Global Subcustodian.

Q. Accounts and Records Property of Fund. State Street acknowledges that
all of the accounts and records maintained by State Street pursuant
hereto are the property of Fund, and will be made available to Fund
for inspection or reproduction within a reasonable period of time,
upon demand. State Street will assist Fund's independent auditors, or
upon the prior written approval of Fund, or upon demand, any
regulatory body, in any requested review of Fund's accounts and
records, provided that Fund will reimburse State Street for all
expenses and employee time invested in any such review outside of
routine and normal periodic reviews. Upon receipt from Fund of the
necessary information or instructions, State Street will supply
information from the books and records it maintains for Fund that Fund
may reasonably request for tax returns, questionnaires, periodic
reports to shareholders and such other reports and information
requests as Fund and State Street may agree upon from time to time.

R. Adoption of Procedures. State Street and Fund hereby adopt the Funds
Transfer Operating Guidelines attached hereto as Exhibit B. State
Street and Fund may from time to time adopt such additional procedures
as they agree upon, and State Street may conclusively assume that no
procedure approved or directed by Fund, Fund's or Portfolio's
accountants or other advisors conflicts with or violates any
requirements of the prospectus, articles of incorporation and bylaws
or declaration of trust, any applicable law, rule or regulation, or
any order, decree or agreement by which Fund may be bound. Fund will
be responsible for notifying State Street of any changes in statutes,
regulations, rules, requirements or policies which may impact State
Street's responsibilities or procedures under this Agreement.

S. Advances. Fund will pay on demand any advance of cash or securities
made by State Street or any Subcustodian, in its sole discretion, for
any purpose (including but not limited to securities settlements,
purchase or sale of foreign exchange or foreign exchange contracts and
assumed settlement) for the benefit of any Portfolio. Any such cash
advance will be subject to an overdraft charge at the rate set forth
in the then-current fee schedule from the date advanced until the date
repaid. As security for each such advance, Fund hereby grants State
Street and such Subcustodian a lien on and security interest in all
Assets at any time held for the account of the applicable Portfolio,
including without limitation all Assets acquired with the amount
advanced. Should Fund fail to promptly repay the advance, State Street
and such Subcustodian may utilize available cash and dispose of such
Portfolio's Assets pursuant to applicable law to the extent necessary
to obtain reimbursement of the amount advanced and any related
overdraft charges.

T. Exercise of Rights; Tender Offers. Upon receipt of Instructions, State
Street will: (1) deliver warrants, puts, calls, rights or similar
securities to the issuer or trustee thereof, or to the agent of such
issuer or trustee, for the purpose of exercise or sale, provided that
the new Assets, if any, are to be delivered to State Street; and (2)
deposit securities upon invitations for tenders thereof, provided that
the consideration for such securities is to be paid or delivered to
State Street or the tendered securities are to be returned to State
Street.

U. Fund Shares.

1. Fund will deliver to State Street Instructions with respect to
the declaration and payment of any dividend or other distribution
on the shares of capital stock of a Portfolio ("Fund Shares") by
a Portfolio. On the date specified in such Instruction, State
Street will pay out of the monies held for the account of the
Portfolio, insofar as it is available for such purposes, and
credit to the account of the Dividend Disbursing Agent for the
Portfolio, the amount specified in such Instructions.

2. Whenever Fund Shares are repurchased or redeemed by a Portfolio,
Portfolio or its agent will give State Street Instructions
regarding the aggregate dollar amount to be paid for such shares.
Upon receipt of such Instruction, State Street will charge such
aggregate dollar amount to the account of the Portfolio and
either deposit the same in the account maintained for the purpose
of paying for the repurchase or redemption of Fund Shares or
deliver the same in accordance with such Instruction. State
Street has no duty or responsibility to determine that Fund
Shares have been removed from the proper shareholder accounts or
that the proper number of Fund Shares have been canceled and
removed from the shareholder records.

3. Whenever Fund Shares are purchased from Fund, Fund will deposit
or cause to be deposited with State Street the amount received
for such shares. State Street has no duty or responsibility to
determine that Fund Shares purchased

from Fund have been added to the proper shareholder account or
that the proper number of such shares have been added to the
shareholder records.

4. INSTRUCTIONS.

A. The term "Instructions", as used herein, means written (including
telecopied, telexed, or electronically transmitted) or oral
instructions which State Street reasonably believes were given by a
designated representative of Fund. Fund will deliver to State Street,
prior to delivery of any Assets to State Street and thereafter from
time to time as changes therein are necessary, written Instructions
naming one or more designated representatives to give Instructions in
the name and on behalf of Fund, which Instructions may be received and
accepted by State Street as conclusive evidence of the authority of
any designated representative to act for Fund and may be considered to
be in full force and effect until receipt by State Street of notice to
the contrary. Unless such written Instructions delegating authority to
any person to give Instructions specifically limit such authority to
specific matters or require that the approval of anyone else will
first have been obtained, State Street will be under no obligation to
inquire into the right of such person, acting alone, to give any
Instructions whatsoever. If Fund fails to provide State Street any
such Instructions naming designated representatives, any Instructions
received by State Street from a person reasonably believed to be an
appropriate representative of Fund will constitute valid and proper
Instructions hereunder. The term "designated representative" may
include Fund's or a Portfolio's employees and agents, including
investment managers and their employees.

B. No later than the next business day immediately following each oral
Instruction, Fund will send State Street written confirmation of such
oral Instruction. At State Street's sole discretion, State Street may
record on tape, or otherwise, any oral Instruction whether given in
person or via telephone, each such recording identifying the date and
the time of the beginning and ending of such oral Instruction.

C. Fund will provide, upon State Street's request a certificate signed by
an officer or designated representative of Fund, as conclusive proof
of any fact or matter required to be ascertained from Fund hereunder.
Fund will also provide State Street Instructions with respect to any
matter concerning this Agreement requested by State Street. If State
Street reasonably believes that it could not prudently act according
to the Instructions, or the instruction or advice of Fund's or a
Portfolio's accountants or counsel, it may in its discretion, with
notice to Fund, not act according to such Instructions.

5. LIMITATION OF LIABILITY OF STATE STREET. State Street is not responsible or
liable for, and Fund will indemnify and hold State Street harmless from and
against, any and all costs, expenses, losses, damages, charges, counsel
fees (including, without limitation, disbursements and the allocable cost
of in-house counsel), payments and liabilities which may be asserted
against or incurred by State Street or for which State Street may be held
to be liable, arising out of or attributable to:

A. State Street's action or failure to act pursuant hereto; provided that
State Street has acted in good faith and with reasonable care; and
provided further, that, in no event is State Street liable for
consequential, special, or punitive damages;

B. State Street's payment of money as requested by Fund, or the taking of
any action which might make it or its nominee liable for payment of
monies or in any other way; provided, however, that nothing herein
obligates State Street to take any such action or expend its own
monies except in its sole discretion;

C. State Street's action or failure to act hereunder upon any
Instructions, advice, notice, request, consent, certificate or other
instrument or paper appearing to it to be genuine and to have been
properly executed, including any Instruction, communications, data or
other information received by State Street by means of the Systems, as
hereinafter defined, or any electronic system of communication;

D. State Street's action or failure to act in good faith reliance on the
advice or opinion of counsel for Fund or of its own counsel with
respect to questions or matters of law, which advice or opinion may be
obtained by State Street at the expense of Fund, or on the
Instruction, advice or statements of any officer or employee of Fund,
or Fund's accountants or other authorized individuals, and other
persons believed by it in good faith to be expert in matters upon
which they are consulted;

E. The purchase or sale of any securities or foreign currency positions.
Without limiting the generality of the foregoing, State Street is
under no duty or obligation to inquire into:

1. The validity of the issue of any securities purchased by or for
any Portfolio, or the legality of the purchase thereof or of
foreign currency positions, or evidence of ownership required by
Fund to be received by State Street, or the propriety of the
decision to purchase or the amount paid therefor;

2. The legality of the sale of any securities or foreign currency
positions by or for any Portfolio, or the propriety of the amount
for which the same are sold; or

3. The legality of the issue or sale of any Fund Shares, or the
sufficiency of the amount to be received therefor, the legality
of the repurchase or redemption of any Fund Shares, or the
propriety of the amount to be paid therefor, or the legality of
the declaration of any dividend by Fund, or the legality of the
issue of any Fund Shares in payment of any stock dividend.

F. Any error, omission, inaccuracy or other deficiency in any Portfolio's
accounts and records or other information provided to State Street by
or on behalf of a Portfolio, or the failure of Fund to provide, or
provide in a timely manner, any accounts, records, or information
needed by State Street to perform its duties hereunder;

G. Fund's refusal or failure to comply with the terms hereof (including
without limitation Fund's failure to pay or reimburse State Street
under Section 5 hereof), Fund's negligence or willful misconduct, or
the failure of any representation or warranty of Fund hereunder to be
and remain true and correct in all respects at all times;

H. The use or misuse, whether authorized or unauthorized, of the Systems
or any electronic system of communication used hereunder, by Fund or
by any person who acquires access to the Systems or such other systems
through the terminal device, passwords, access instructions or other
means of access to such Systems or such other system which are
utilized by, assigned to or otherwise made available to Fund, except
to the extent attributable to any negligence or willful misconduct by
State Street;

I. Any money represented by any check, draft, wire transfer,
clearinghouse funds, uncollected funds, or instrument for the payment
of money to be received by State Street on behalf of a Portfolio until
actually received; provided, however, that State Street will advise
Fund promptly if it fails to receive any such money in the ordinary
course of business and will cooperate with Fund toward the end that
such money is received;

J. Except as provided in Section 3.P hereof, loss occasioned by the acts,
omissions, defaults or insolvency of any broker, bank, trust company,
securities system or any other person with whom State Street may deal;
and

K. The failure or delay in performance of its obligations hereunder, or
those of any entity for which it is responsible hereunder, arising out
of or caused, directly or indirectly, by circumstances beyond the
affected entity's reasonable control, including, without limitation:
any interruption, loss or malfunction of any utility, transportation,
computer (hardware or software) or communication service; inability to
obtain labor, material, equipment or transportation, or a delay in
mails; governmental or exchange action, statute, ordinance, rulings,
regulations or direction; war, strike, riot, emergency, civil
disturbance, terrorism, vandalism, explosions, labor disputes,
freezes, floods, fires, tornadoes, acts of God or public enemy,
revolutions, or insurrection.

6. COMPENSATION. In consideration for its services hereunder, Fund will pay
to State Street the compensation set forth in a separate fee schedule,
incorporated herein by reference, to be agreed to by Fund and State Street
from time to time, and, upon demand, reimbursement for State Street's cash
disbursements and reasonable out-of-pocket costs and expenses, including
attorney's fees and disbursements, incurred by State Street in connection
with the performance of services hereunder. State Street may charge such
compensation against monies held by it for the account of the Portfolios.
State Street will also be entitled to charge against any monies held by it
for the account of the Portfolios the amount of any loss, damage,
liability, advance, overdraft or expense for which it is entitled to
reimbursement from Fund, including but not limited to fees and expenses due
to State Street for other services provided to Fund by State Street. State
Street will be entitled to

reimbursement by Fund for the losses, damages, liabilities, advances,
overdrafts and expenses of Subcustodians only to the extent that (a) State
Street would have been entitled to reimbursement hereunder if it had
incurred the same itself directly, and (b) State Street is obligated to
reimburse the Subcustodian therefor.

7. TERM AND TERMINATION. Either Fund or State Street may terminate this
Agreement by notice in writing, delivered or mailed, postage prepaid, to
the other party and received not less than ninety (90) days prior to the
date upon which such termination will take effect. Upon termination hereof:

A. Fund will pay State Street its fees and compensation due hereunder and
its reimbursable disbursements, costs and expenses paid or incurred to
such date;

B. Fund will designate a successor custodian by Instruction to State
Street by the termination date. In the event no such Instruction has
been delivered to State Street on or before the date when such
termination becomes effective, then State Street may, at its option,
(i) choose as successor custodian a bank or trust company meeting the
qualifications for custodian set forth in the 1940 Act and having not
less than Two Million Dollars ($2,000,000) aggregate capital, surplus
and undivided profits, as shown by its last published report, or (ii)
apply to a court of competent jurisdiction for the appointment of a
successor or other proper relief, or take any other lawful action
under the circumstances; provided, however, that Fund will reimburse
State Street for its costs and expenses, including reasonable
attorney's fees, incurred in connection therewith; and

C. State Street will, upon payment of all sums due to State Street from
Fund hereunder or otherwise, deliver all Assets, duly endorsed and in
form for transfer, to the successor custodian, or as specified by the
court, at State Street's office. State Street will co-operate in
effecting changes in book-entries at all Depositories. Upon delivery
to a successor or as specified by the court, State Street will have no
further obligations or liabilities hereunder. Thereafter such
successor will be the successor hereunder and will be entitled to
reasonable compensation for its services.

In the event that Assets remain in the possession of State Street after the
date of termination hereof for any reason other than State Street's failure
to deliver the same, State Street is entitled to compensation as provided
in the then-current fee schedule for its services during such period, and
the provisions hereof relating to the duties and obligations of State
Street will remain in full force and effect.

8. NOTICES. Notices, requests, instructions and other writings addressed to
Fund at the address set forth above, or at such other address as Fund may
have designated to State Street in writing, will be deemed to have been
properly given to Fund hereunder. Notices, requests, Instructions and other
writings addressed to State Street at 000 Xxxxxxxxxxxx Xxxxxx, Xxxxxx Xxxx,
Xxxxxxx 00000, Attention: Custody Department, or to such other address as
it may have designated to Fund in writing, will be deemed to have been
properly given to State Street hereunder.

9. THE SYSTEMS; CONFIDENTIALITY.

A. If State Street provides Fund and its designated investment advisors,
consultants or other third parties authorized by State Street who
agree to abide by the terms of this Agreement ("Authorized Designees")
with access to the computerized investment portfolio custody systems
used by State Street ("Systems") on a remote basis for the purpose of
obtaining and analyzing reports and information (the "Remote Access
Services") or if State Street and Fund agree to utilize any electronic
system of communication, Fund agrees to comply, and to cause its
Authorized Designees to comply, with remote access operating standards
and procedures and with user identification or other password control
requirements and other security procedures as may be issued from time
to time by State Street for use of the System and access to the Remote
Access Services. Fund agrees to advise State Street immediately in the
event that it learns or has reason to believe that any person to whom
Fund has given access to the System or the Remote Access Services has
violated or intends to violate the terms of this Agreement and will
cooperate with State Street in seeking injunctive or other equitable
relief.

B. State Street may from time to time agree to make available to Fund
additional Systems. In the absence of any other written agreement
concerning such additional systems, the term "System" shall include,
and this Agreement shall govern, the Fund's access to and use of any
additional System made available by State Street and/or accessed by
the Fund.

C. The System and Remote Access Services described herein and the
databases, computer programs, screen formats, report formats,
interactive design techniques, formulae, processes, systems, software,
knowhow, algorithms, programs, training aids, printed materials,
methods, books, records, files, documentation and other information
made available to Fund by State Street as part of the Remote Access
Services and through the use of the System and all copyrights,
patents, trade secrets and other proprietary rights of State Street
related thereto are the exclusive, valuable and confidential property
of State Street and its relevant licensors (the "Proprietary
Information"). Fund agrees on its behalf and on behalf of its
Authorized Designees to keep the Proprietary Information confidential
and to limit access to its employees and Authorized Designees (under a
similar duty of confidentiality) who require access to the System for
the purposes intended. In the event of termination of this Agreement,
Fund will return to State Street all copies of documentation and other
Proprietary Information in its possession or in the possession of its
Authorized Designees. The foregoing shall not apply to Proprietary
Information in the public domain or required by law to be made public.

D. Fund agrees to use the Remote Access Services only in connection with
the proper purposes of this Agreement. Fund will not, and will cause
its employees and Authorized Designees not to, (i) permit any third
party to use the System or the Remote Access Services, (ii) sell,
rent, license or otherwise use the System or the Remote Access
Services in the operation of a service bureau or for any purpose other
than as expressly authorized under this Agreement, (iii) use the
System or the Remote

Access Services for any fund, trust or other investment vehicle
without the prior written consent of State Street, or (iv) allow or
cause any information transmitted from State Street's databases,
including data from third party sources, available through use of the
System or the Remote Access Services, to be redistributed or
retransmitted for other than use for or on behalf of Fund, as State
Street's Customer.

E. Fund will not, and will cause its employees and Authorized Designees
not to, modify the System in any way, enhance or otherwise create
derivative works based upon the System, nor will Fund or its
Authorized Designees reverse engineer, decompile or otherwise attempt
to secure the source code for all or any part of the System.

F. Fund acknowledges that the disclosure of any Proprietary Information,
or of any information which at law or equity ought to remain
confidential, will immediately give rise to continuing irreparable
injury to State Street inadequately compensable in damages at law and
that State Street shall be entitled to obtain immediate injunctive
relief against the breach or threatened breach of any of the foregoing
undertakings, in addition to any other legal remedies which may be
available.

G. State Street represents and warrants that it is the owner of and has
the right to grant access to the System and to provide the Remote
Access Services contemplated herein. Because of the nature of computer
information technology and the necessity of relying upon third party
sources, and data and pricing information obtained from third parties,
the System and Remote Access Services are provided "AS IS", and Fund
and its Authorized Designees shall be solely responsible for the
investment decisions, regulatory reports and statements produced using
the Remote Access Services. State Street and its relevant licensors
will not be liable to Fund or its Authorized Designees for any direct
or indirect, special, incidental, punitive or consequential damages
arising out of or in any way connected with the System or the Remote
Access Services, nor shall either party be responsible for delays or
nonperformance under this Agreement arising out of any cause or event
beyond such party's control.

H. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, STATE STREET FOR
ITSELF AND ITS RELEVANT LICENSORS EXPRESSLY DISCLAIMS ANY AND ALL
WARRANTIES CONCERNING THE SYSTEM AND THE SERVICES TO BE RENDERED
HEREUNDER, WHETHER EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION
ANY WARRANTY OF MERCHANTIBILITY OR FITNESS FOR A PARTICULAR PURPOSE.

I. State Street will defend or, at its option, settle any claim or action
brought against Fund to the extent that it is based upon an assertion
that access to the System or use of the Remote Access Services by Fund
under this Agreement constitutes direct infringement of any United
States patent or copyright or misappropriation of a trade secret,
provided that Fund notifies State Street promptly in writing of any
such claim or proceeding and cooperates with State Street in the
defense of such claim or proceeding. Should the System or the Remote
Access Services or any part thereof become, or in State Street's
opinion be likely to become, the subject of a claim of

infringement or the like under the patent or copyright or trade secret
laws of the United States, State Street shall have the right, at State
Street's sole option, to (i) procure for Fund the right to continue
using the System or the Remote Access Services, (ii) replace or modify
the System or the Remote Access Services so that the System or the
Remote Access Services becomes noninfringing, or (iii) terminate the
Remote Access Services without further obligation.

10. MULTIPLE PORTFOLIOS. If Fund is comprised of more than one Portfolio, the
following provisions apply:

A. Each Portfolio will be regarded for all purposes hereunder as a
separate party apart from each other Portfolio. Unless the context
otherwise requires, with respect to every transaction covered hereby,
every reference herein to Fund is deemed to relate solely to the
particular Portfolio to which such transaction relates. Under no
circumstances will the rights, obligations or remedies with respect to
a particular Portfolio constitute a right, obligation or remedy
applicable to any other Portfolio. The use of this single document to
memorialize the separate agreement as to each Portfolio is understood
to be for clerical convenience only and will not constitute any basis
for joining the Portfolios for any reason.

B. Fund may appoint State Street as its custodian for additional
Portfolios from time to time by written notice, provided that State
Street consents to such addition. Rates or charges for each additional
Portfolio will be as agreed upon by State Street and Fund in writing.

11. MISCELLANEOUS.

A. This Agreement will be construed according to, and the rights and
liabilities of the parties hereto will be governed by, the laws of the
Commonwealth of Massachusetts, without reference to the choice of laws
principles thereof.

B. All terms and provisions hereof will be binding upon, inure to the
benefit of and be enforceable by the parties hereto and their
respective successors and permitted assigns.

C. The representations and warranties, the indemnifications extended
hereunder, and the provisions of Section 9 hereof are intended to and
will continue after and survive the expiration, termination or
cancellation hereof.

D. No provisions hereof may be amended or modified in any manner except
by a written agreement properly authorized and executed by each party
hereto.

E. The failure of either party to insist upon the performance of any
terms or conditions hereof or to enforce any rights resulting from any
breach of any of the terms or conditions hereof, including the payment
of damages, will not be construed as a continuing or permanent waiver
of any such terms, conditions, rights or privileges,

but the same will continue and remain in full force and effect as if
no such forbearance or waiver had occurred. No waiver, release or
discharge of any party's rights hereunder will be effective unless
contained in a written instrument signed by the party sought to be
charged.

F. The captions herein are included for convenience of reference only,
and in no way define or limit any of the provisions hereof or
otherwise affect their construction or effect.

G. This Agreement may be executed in two or more counterparts, each of
which is deemed an original but all of which together constitute one
and the same instrument.

H. If any provision hereof is determined to be invalid, illegal, in
conflict with any law or otherwise unenforceable, the remaining
provisions hereof will be considered severable and will not be
affected thereby, and every remaining provision hereof will remain in
full force and effect and will remain enforceable to the fullest
extent permitted by applicable law.

I. The benefits of this Agreement may not be assigned by either party nor
may either party delegate all or a portion of its duties hereunder
without the prior written consent of the other party. Notwithstanding
the foregoing, Fund agrees that State Street may delegate all or a
portion of its duties to an affiliate of State Street, provided that
such delegation will not reduce the obligations of State Street under
this Agreement.

J. Neither the execution nor performance hereof will be deemed to create
a partnership or joint venture by and between State Street and Fund or
any Portfolio.

K. This Agreement shall supercede and replace the Custody Agreement by
and between Investors Fiduciary Trust Company and Sentinel Group
Funds, Inc. dated December 1, 1989 and the Custody Agreement by and
between Investors Fiduciary Trust Company and Sentinel Pennsylvania
Tax-Free Trust dated December 1, 1989. Investors Fiduciary Trust
Company assigned each of these agreements to State Street Bank and
Trust Company effective January 1, 2000. Except as specifically
provided herein, this Agreement does not in any way affect any other
agreements entered into among the parties hereto and any actions taken
or omitted by either party hereunder will not affect any rights or
obligations of the other party hereunder.

L. If Fund is a Trust, notice is hereby given that a copy of Fund's Trust
Agreement and all amendments thereto is on file with the Secretary of
State of the state of its organization; that this Agreement has been
executed on behalf of Fund by the undersigned duly authorized
representative of Fund in his/her capacity as such and not
individually; and that the obligations of this Agreement are binding
only upon the assets and property of Fund and not upon any trustee,
officer of shareholder of Fund individually.

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed
by their respective duly authorized officers.

STATE STREET BANK AND TRUST COMPANY SENTINEL GROUP FUNDS, INC.

By: /s/Xxxxxx X. Xxxxxxxxx By: /s/Xxxxxx X. Xxxxxx
--------------------------- --------------------------

Title: Senior Vice President Title: Vice President & Treasurer

SENTINEL PENNSYLVANIA TAX-FREE
TRUST

By: /s/ Xxxxxx X. Xxxxxx
--------------------------

Title: Vice President & Treasurer

SENTINEL VARIABLE PRODUCTS TRUST

By: /s/Xxxxxx X. Xxxxxx
--------------------------

Title: Vice President & Treasurer

EXHIBIT A -- INCOME AVAILABILITY SCHEDULE

Foreign--Income will be credited contractually on pay day in the markets noted
with Contractual Income Policy. The markets noted with Actual income policy will
be credited income when it is received.

Market Income Policy Market Income Policy Market Income Policy
-------------- -------------- ----------- ------------- --------------- --------------

Argentina Actual Hong Kong Contractual Poland Actual

Australia Contractual Hungary Actual Portugal Contractual

Austria Contractual India Actual Russia Actual

Bahrain Actual Indonesia Actual Singapore Contractual

Bangladesh Actual Ireland Actual Slovak Republic Actual

Belgium Contractual Israel Actual South Africa Actual

Bermuda Actual Italy Contractual South Korea Actual

* Bolivia Actual Ivory Coast Actual Spain Contractual

Botswana Actual * Jamaica Actual Sri Lanka Actual

Brazil Actual Japan Contractual Swaziland Actual

Canada Contractual Jordan Actual Sweden Contractual

Chile Actual Kenya Actual Switzerland Contractual

China Actual Lebanon Actual Taiwan Actual

Colombia Actual Luxembourg Actual Thailand Actual

Cyprus Actual Malaysia Actual * Trinidad & Actual
Tobago

Czech Republic Actual Mauritius Actual * Tunisia Actual

Denmark Contractual Mexico Actual Turkey Actual

Ecuador Actual Morocco Actual UnitedKingdom Contractual

Egypt Actual Namibia Actual United States See Attached

**Euroclear Contractual/ Netherlands Contractual Uruguay Actual
Actual

Euro CDs Actual New Zealand Contractual Venezuela Actual

Finland Contractual Norway Contractual Zambia Actual

France Contractual Oman Actual Zimbabwe Actual

Germany Contractual Pakistan Actual

Ghana Actual Peru Actual

Greece Actual Philippines Actual

* Market is not 17F-5 eligible
** For Euroclear, contractual income paid only in markets listed with Income
Policy of Contractual.
United States--

Income Type DTC FED PTC Physical
---------------------- ----------- ----------- ------------------ ---------

Dividends Contractual N/A N/A Actual

Fixed Rate Interest Contractual Contractual N/A Actual

Variable Rate Interest Contractual Contractual N/A Actual

GNMA I N/A N/A Contractual PD +1 N/A

GNMA II N/A N/A Contractual PD *** N/A

Mortgages Actual Contractual Contractual Actual

Maturities Actual Contractual N/A Actual

Exceptions to the above Contractual Income Policy include securities that are:

.. Involved in a trade whose settlement either failed, or is pending over the
record date, (excluding the United States);
.. On loan under a self directed securities lending program other than State
Street's own vendor lending program;
.. Known to be in a condition of default, or suspected to present a risk of
default or payment delay;
.. In the asset categories, without limitation, of Private Placements,
Derivatives, Options, Futures, CMOs, and Zero Coupon Bonds.
.. Securities whose amount of income and redemption cannot be calculated in
advance of payable date, or determined in advance of actual collection,
examples include ADRs;
.. Payments received as the result of a corporate action, not limited to, bond
calls, mandatory or optional puts, and tender offers.

*** For GNMA II securities, if the 19th day of the month is a business day,
Payable/Distribution Date is the next business day. If the 19th is not a
business day, but the 20th is a business day, Payable/Distribution date is the
first business day after the 20th. If both the 19th and 20th are not business
days, Payable/Distribution will be the next business day thereafter.

EXHIBIT B -- FUNDS TRANSFER OPERATING GUIDELINES

1. OBLIGATION OF THE SENDER: State Street Bank and Trust Company and affiliates
("SSB") is authorized to promptly debit Client's account(s) upon the receipt of
a payment order in compliance with any of the Security Procedures chosen by the
Client, from those offered on the attached selection form (and any updated
selection forms hereafter executed by the Client), for funds transfers and in
the amount of money that SSB has been instructed to transfer. SSB is hereby
instructed to accept funds transfer instructions only via the delivery methods
and Security Procedures indicated on the attached selection form (and any
updated selection forms hereafter executed by the Client). The Client agrees
that the Security Procedures are reasonable and adequate for its wire transfer
transactions and agrees to be bound by any payment orders, amendments and
cancellations, whether or not authorized, issued in its name and accepted by SSB
after being confirmed by any of the selected Security Procedures. The Client
also agrees to be bound by any other valid and authorized payment order accepted
by SSB. SSB shall execute payment orders in compliance with the selected
Security Procedures and with the Client's/Investment Manager's instructions on
the execution date provided that such payment order is received by the customary
deadline for processing such a request, unless the payment order specifies a
later time. SSB will use reasonable efforts to execute on the execution date
payment orders received after the customary deadline, but if it is unable to
execute any such payment order on the execution date, such payment order will be
deemed to have been received on the next business day.

2. SECURITY PROCEDURES: The Client acknowledges that the selected Security
Procedures were selected by the Client from Security Procedures offered by SSB.
The Client shall restrict access to confidential information relating to the
Security Procedures to authorized persons as communicated in writing to SSB. The
Client must notify SSB immediately if it has reason to believe unauthorized
persons may have obtained access to such information or of any change in the
Client's authorized personnel. SSB shall verify the authenticity of all
instructions according to the selected Security Procedures.

3. ACCOUNT NUMBERS: SSB shall process all payment orders on the basis of the
account number contained in the payment order. In the event of a discrepancy
between any name indicated on the payment order and the account number, the
account number shall take precedence and govern. Financial institutions that
receive payment orders initiated by SSB at the instruction of the Client may
also process payment orders on the basis of account numbers, regardless of any
name included in the payment order. SSB will also rely on any financial
institution identification numbers included in any payment order, regardless of
any financial institution name included in the payment order.

4. REJECTION: SSB reserves the right to decline to process or delay the
processing of a payment order which (a) is in excess of the collected balance in
the account to be charged at the time of SSB's receipt of such payment order;
(b) if initiating such payment order would cause SSB, in SSB's sole judgment, to
exceed any applicable volume, aggregate dollar, network, time, credit or similar
limits upon wire transfers; or (c) if SSB, in good faith, is unable to satisfy
itself that the transaction has been properly authorized.

5. CANCELLATION OR AMENDMENT: SSB shall use reasonable efforts to act on all
authorized requests to cancel or amend payment orders received in compliance
with the selected Security Procedures provided that such requests are received
in sufficient time to afford SSB a reasonable opportunity to act prior to
executing the payment order. However, SSB assumes no liability if the request
for amendment or cancellation cannot be satisfied by SSB's reasonable efforts.

6. ERRORS: SSB shall assume no responsibility for failure to detect any
erroneous payment order provided that SSB complies with the payment order
instructions as received and SSB complies with the selected Security Procedures.
The Security Procedures are established for the purpose of authenticating
payment orders only and not for the detection of errors in payment orders.

7. INTEREST AND LIABILITY LIMITS: SSB shall assume no responsibility for lost
interest with respect to the refundable amount of any unauthorized payment
order, unless SSB is notified of the unauthorized payment order within thirty
(30) days of notification by SSB of the acceptance of such payment order. In no
event (including but not limited to failure to execute a payment order) shall
SSB be liable for special, indirect or consequential damages, even if advised of
the possibility of such damages.

8. AUTOMATED CLEARING HOUSE ("ACH") CREDIT ENTRIES/PROVISIONAL PAYMENTS: When
the Client initiates or receives ACH credit and debit entries pursuant to these
Guidelines and the rules of the National Automated Clearing House Association
and the Mid-America Payment Exchange or other similar body, SSB or its agent
will act as an Originating Depository Financial Institution and/or Receiving
Depository Financial Institution, as the case may be, with respect to such
entries. Credits given with respect to an ACH credit entry are provisional until
final settlement for such entry is received from the Federal Reserve Bank. If
such final settlement is not received, the Client agrees to promptly refund the
amount credited to the Client in connection with such entry, and the party
making payment to the Client via such entry shall not be deemed to have paid the
amount of the entry.

9. CONFIRMATIONS: Confirmation of SSB's execution of payment orders shall
ordinarily be provided within 24 hours. Notice may be delivered through SSB's
account statements, advices, information systems, or by facsimile or callback.
The Client must report any objections to the execution of a payment order within
30 days.

10. MISCELLANEOUS: SSB may use the Federal Reserve System Fedwire to execute
payment orders, and any payment order carried in whole or in part through
Fedwire will be subject to applicable Federal Reserve Board rules and
regulations. SSB and the Client agree to cooperate to attempt to recover any
funds erroneously paid to wrong parties, regardless of any fault of SSB or the
Client, but the party responsible for the erroneous payment shall bear all costs
and expenses incurred in trying to effect such recovery. These Guidelines may
not be amended except by a written agreement signed by the parties.

SECURITY PROCEDURES SELECTION FORM

Please select at least two of the funds transfer security procedures indicated
below.

[] SWIFT

SWIFT (Society for Worldwide Interbank Financial Telecommunication) is a
cooperative society owned and operated by member financial institutions
that provides telecommunication services for its membership. Participation
is limited to securities brokers and dealers, clearing and depository
institutions, recognized exchanges for securities, and investment
management institutions. SWIFT provides a number of security features
through encryption and authentication to protect against unauthorized
access, loss or wrong delivery of messages, transmission errors, loss of
confidentiality and fraudulent changes to messages.

Selection of this security procedure would be most appropriate for existing
SWIFT members.

[X] REMOTE BATCH TRANSMISSION

Wire transfer instructions are delivered via Computer-to-Computer (CPU-CPU)
data communications between the Client and/or its agent and SSB and/or its
agent. Security procedures include encryption and/or the use of a test key
by those individuals authorized as Automated Batch Verifiers or a callback
procedure to those individuals.

Clients selecting this option should have an existing facility for
completing CPU-CPU transmissions. This delivery mechanism is typically used
for high-volume business such as shareholder redemptions and dividend
payments.

[X] AUTOMATED CLEARING HOUSE (ACH)

SSB or its agent receives an automated transmission from a Client for the
initiation of payment (credit) or collection (debit) transactions through
the ACH network. The transactions contained on each transmission or tape
must be authenticated by the Client. The transmission is sent from the
Client's or its agent's system to SSB's or its agent's system with
encryption.

[X] REPETITIVE WIRES

For situations where funds are transferred periodically from an existing
authorized account to the same payee (destination bank and account number)
and only the date and currency amount are variable, a repetitive wire may
be implemented. Repetitive wires will be subject to a $10 million limit. If
the payment order exceeds the $10 million limit, the instruction will be
confirmed by Telephone Confirmation (Call Back) or Test Key prior to
execution. Repetitive wire instructions must be reconfirmed annually.
Clients may establish Repetitive Wires by following the agreed upon
security procedures as described by Telephone Confirmation (Call Back) or
Test Key.

This alternative is recommended whenever funds are frequently transferred
between the same two accounts. If this option is selected, choose either
Telephone Confirmation or Test Key to be used as a secondary procedure when
over $10 million.

[X] STANDING INSTRUCTIONS

Funds are transferred by SSB to a counter party on the Client's established
list of authorized counter parties. Only the date and the dollar amount are
variable. Clients may establish Standby Instructions by following the
agreed upon security procedures as described by Telephone Confirmation
(Call Back) or Test Key. Additional paperwork will be required from
insurance Clients using 1031 drawdowns.

This option is used for transactions that include but are not limited to
Foreign Exchange Contracts, Time Deposits and Tri-Party Repurchase
Agreements. If this option is selected, choose either Telephone
Confirmation or Test Key to be used as a secondary procedure when over $10
million.

[X] TELEPHONE CONFIRMATION (CALL BACK)

This procedure requires Clients to designate individuals as authorized
initiators and authorized verifiers. SSB will verify that the instruction
contains the signature of an authorized person and prior to execution of
the payment order, will contact someone other than the originator at the
Client's location to authenticate the instruction.

Selection of this alternative is appropriate for Clients who do not have
the capability to use other security procedures. Please complete the
Telephone Confirmation Instructions attached as a Schedule hereto.

[X] TEST KEY

Test Key confirmation will be used to verify all non-repetitive funds
transfer instructions received via facsimile or phone. SSB will provide
test keys if this option is chosen. SSB will verify that the instruction
contains the signature of an authorized person and prior to execution of
the payment order, will authenticate the test key provided with the
corresponding test key at SSB.

Selection of this alternative is appropriate for Clients who do not have
the capability to use other security procedures.

The individual signing below must be authorized to sign contract on behalf of
the clients named in Schedule A attached. The execution of payment orders under
the selected Security Procedures is governed by the Funds Transfer Operating
Guidelines, which are incorporated by reference.

EACH OF THE CLIENTS NAMED ON SCHEDULE A ATTACHED HERETO.

CLIENT

By: /s/ Xxxxxx X. Xxxxxx
----------------------------------------
Authorized Signature

Xxxxxx X. Xxxxxx
--------------------------------------------
Type or Print Name

Vice President & Treasurer
--------------------------------------------
Title

3/3/98
--------------------------------------------
Date

SCHEDULE TO FUNDS TRANSFER OPERATING GUIDELINES
AND SECURITY PROCEDURES SELECTION FORM

CLIENT/INVESTMENT MANAGER: Sentinel Group Funds, Sentinel Pennsylvania Tax-Free
Trust and Sentinel Variable Products Trust

Company Name

KEY CONTACT INFORMATION
Whom shall we contact to implement your selection(s)?

CLIENT OPERATIONS CONTACT ALTERNATE CONTACT

Name Xxxx Xxxxx Name Xxxxxx X. Xxxxxx

Address National Life Drive Address National Life Drive

City/State/Zip Code Montpelier, City/State/Zip Code Montpelier,
VT 05604 VT 05604

Telephone Number 000-000-0000 Telephone Number 000-000-0000

Facsimile Number 000-000-0000 Facsimile Number 000-000-0000

SWIFT Number

TELEPHONE CONFIRMATION INSTRUCTIONS

Authorized Initiators (Please Type or Print) - Please provide a listing of your
staff members who are currently authorized to INITIATE wire transfer
instructions:

NAME TITLE SPECIMEN SIGNATURE

Xxxxxx X. Xxxxxx Vice President & Treasurer /s/
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Xxxxx X. Xxxxxxx Assistant Vice President /s/
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& Assistant Treasurer
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Xxxxxxxx Xxxxx Senior Portfolio Accountant /s/
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Authorized Verifiers (Please Type or Print) - Please provide a listing of your
staff members who will be CALLED BACK to verify the initiation of repetitive
wires of $10 million or more and all non-repetitive wire instructions:

NAME CALLBACK PHONE NUMBER DOLLAR LIMITATION (IF ANY)

Xxxxxx X. Xxxxxx 000-000-0000
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Xxxxx X. Xxxxxxx 000-000-0000
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Xxxxxxxx Xxxxx ###-##-####
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Document Metadata

Table of Contents

CUSTODY AGREEMENT THIS AGREEMENT is made effective the _ day of ________, 2000, by and between STATE STREET BANK AND TRUST COMPANY, a Massachusetts trust company, having its principal office and place of business at 225 Franklin Street, Boston,...

Document Metadata

CUSTODY AGREEMENT THIS AGREEMENT is made effective the ___ day of __________, 2000, by and between STATE STREET BANK AND TRUST COMPANY, a Massachusetts trust company, having its principal office and place of business at 225 Franklin Street, Boston,...

Document Metadata

CUSTODY AGREEMENT THIS AGREEMENT is made effective the _ day of ________, 2000, by and between STATE STREET BANK AND TRUST COMPANY, a Massachusetts trust company, having its principal office and place of business at 225 Franklin Street, Boston,...