1
EXHIBIT-99.g
NUVEEN PREMIUM INCOME MUNICIPAL FUND, INC.
RENEWAL OF INVESTMENT MANAGEMENT AGREEMENT
This Agreement made this 20th day of May, 1997 by and between Nuveen Premium
Income Municipal Fund, Inc., a Minnesota corporation (the "Fund"), and Nuveen
Advisory Corp., a Delaware corporation (the "Adviser");
WHEREAS, the parties hereto are the contracting parties under that certain
Investment Management Agreement (the "Agreement") pursuant to which the
Adviser furnishes investment management and other services to the Fund; and
WHEREAS, the Agreement terminates August 1, 1997 unless continued in the
manner required by the Investment Company Act of 1940; and
WHEREAS, the Board of Directors, at a meeting called for the purpose of
reviewing the Agreement, have approved the Agreement and its continuance until
August 1, 1998 in the manner required by the Investment Company Act of 1940.
NOW THEREFORE, in consideration of the mutual covenants contained in the
Agreement the parties hereto do hereby continue the Agreement in effect until
August 1, 1998 and ratify and confirm the Agreement in all respects.
NUVEEN PREMIUM INCOME
MUNICIPAL FUND. INC.
By: /s/ Xxxxxxx X. Xxxxxxxxx
------------------------
Xxxxxxx X. Xxxxxxxxx
Vice President
ATTEST:
/s/ Xxxxx Xxxxx
------------------------
Xxxxx Xxxxx
Assistant Secretary NUVEEN ADVISORY CORP.
By: /s/ J. Xxxxxx Xxxxxxx
------------------------
J. Xxxxxx Xxxxxxx
Vice President
ATTEST:
/s/ Xxxxx Xxxxxx
------------------------
Xxxxx Xxxxxx
Assistant Secretary
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NUVEEN PREMIUM INCOME MUNICIPAL FUND, INC.
RENEWAL OF INVESTMENT MANAGEMENT AGREEMENT
This Agreement made this 7th day of May, 1996 by and between Nuveen, Premium
Income Municipal Fund, Inc., a Minnesota corporation (the "Fund"), and Nuveen
Advisory Corp., a Delaware corporation (the "Adviser");
WHEREAS, the parties hereto are the contracting parties under that certain
Investment Management Agreement (the "Agreement") pursuant to which the
Adviser furnishes investment management and other services to the Fund; and
WHEREAS, the Agreement terminates August 1, 1996 unless continued in the
manner required by the Investment Company Act of 1940; and
WHEREAS, the Board of Directors, at a meeting called for the purpose of
reviewing the Agreement, have approved the Agreement and its continuance until
August 1, 1997 in the manner required by the Investment Company Act of 1940.
NOW THEREFORE, in consideration of the mutual covenants contained in the
Agreement the parties hereto do hereby continue the Agreement in effect until
August 1, 1997 and ratify and confirm the Agreement in all respects.
NUVEEN PREMIUM INCOME
MUNICIPAL FUND. INC.
By: /s/ Xxxxxxx X. Xxxxxxxxx
------------------------
Xxxxxxx X. Xxxxxxxxx
Vice President
ATTEST:
/s/ Xxxxx Xxxxx
------------------------
Xxxxx Xxxxx
Assistant Secretary NUVEEN ADVISORY CORP.
By: /s/ J. Xxxxxx Xxxxxxx
------------------------
J. Xxxxxx Xxxxxxx
Vice President
ATTEST:
/s/ Xxxxx Xxxxxx
------------------------
Xxxxx Xxxxxx
Assistant Secretary
3
NUVEEN PREMIUM INCOME MUNICIPAL FUND, INC.
RENEWAL OF INVESTMENT MANAGEMENT AGREEMENT
This Agreement made this 9th day of May, 1995 by and between Nuveen Premium
Income Municipal Fund, Inc., a Minnesota corporation (the "Fund"), and Nuveen
Advisory Corp., a Delaware corporation (the "Adviser");
WHEREAS, the parties hereto are the contracting parties under that certain
Investment Management Agreement (the "Agreement") pursuant to which the
Adviser furnishes investment management and other services to the Fund; and
WHEREAS, the Agreement terminates August 1, 1995 unless continued in the
manner required by the Investment Company Act of 1940; and
WHEREAS, the Board of Directors, at a meeting called for the purpose of
reviewing the Agreement, have approved the Agreement and its continuance until
August 1, 1996 in the manner required by the Investment Company Act of 1940.
NOW THEREFORE, in consideration of the mutual covenants contained in the
Agreement the parties hereto do hereby continue the Agreement in effect until
August 1, 1996 and ratify and confirm the Agreement in all respects.
NUVEEN PREMIUM INCOME
MUNICIPAL FUND. INC.
By: /s/ Xxxxxxx X. Xxxxxxxxx
------------------------
Xxxxxxx X. Xxxxxxxxx
Vice President
ATTEST:
/s/ Xxxxx Xxxxx
------------------------
Xxxxx Xxxxx
Assistant Secretary NUVEEN ADVISORY CORP.
By: /s/ J. Xxxxxx Xxxxxxx
------------------------
J. Xxxxxx Xxxxxxx
Vice President
ATTEST:
/s/ Xxxxx Xxxxxx
------------------------
Xxxxx Xxxxxx
Assistant Secretary
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NUVEEN PREMIUM INCOME MUNICIPAL FUND, INC.
RENEWAL OF INVESTMENT MANAGEMENT AGREEMENT
This Agreement made this 27th day of July, 1994 by and between Nuveen Premium
Income Municipal Fund, Inc., a Minnesota corporation (the "Fund"), and Nuveen
Advisory Corp., a Delaware corporation (the "Adviser");
WHEREAS, the parties hereto are the contracting parties under that certain
Investment Management Agreement (the "Agreement") pursuant to which the
Adviser furnishes investment management and other services to the Fund; and
WHEREAS, the Agreement terminates August 1, 1994 unless continued in the
manner required by the Investment Company Act of 1940; and
WHEREAS, the Board of Directors, at a meeting called for the purpose of
reviewing the Agreement, have approved the Agreement and its continuance until
August 1, 1995 in the manner required by the Investment Company Act of 1940.
NOW THEREFORE, in consideration of the mutual covenants contained in the
Agreement the parties hereto do hereby continue the Agreement in effect until
August 1, 1995 and ratify and confirm the Agreement in all respects.
NUVEEN PREMIUM INCOME
MUNICIPAL FUND. INC.
By: /s/ Xxxxxxx X. Xxxxxxxxx
------------------------
Xxxxxxx X. Xxxxxxxxx
Vice President
ATTEST:
/s/ Xxxxx Xxxxx
------------------------
Xxxxx Xxxxx
Assistant Secretary NUVEEN ADVISORY CORP.
By: /s/ X. Xxxxx
------------------------
Xxxxxxxxx Xxxxx
Vice President
ATTEST:
/s/ Xxxxx Xxxxxx
------------------------
Xxxxx Xxxxxx
Assistant Secretary
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NUVEEN PREMIUM INCOME MUNICIPAL FUND, INC.
AMENDMENT AND RENEWAL OF INVESTMENT MANAGEMENT AGREEMENT
Agreement made this 28th day of July, 1993, by and between NUVEEN
PREMIUM INCOME MUNICIPAL FUND, INC., a Minnesota corporation (the "Fund"), and
NUVEEN ADVISORY CORP., a Delaware corporation (the "Adviser"), to be effective
August 1, 1993.
WITNESSETH THAT:
WHEREAS, the Board of Directors of the Fund and the Adviser have agreed
to amend that certain Investment Management Agreement between the Fund and the
Adviser dated April 27, 1992, as subsequently amended and renewed (the
"Agreement"), by reducing the investment management fee paid to the Adviser by
the Fund; and
WHEREAS, the Agreement terminates August 1, 1993 unless continued in the
manner required by the Investment Company Act of 1940; and
WHEREAS, the Board of Directors and the shareholders of the Fund, at
meetings called for the purpose, have approved the amendment to the Agreement
and the continuation of the Agreement until August 1, 1994 in the manner
required by the Investment Company Act of 1940.
NOW THEREFORE, in consideration of the mutual covenants contained herein
and in the Agreement as hereby amended, the Fund and the Adviser hereby agree
to amend the Agreement as follows:
1. Section 2 of the Agreement shall be deleted in its entirety and the
following shall be inserted in lieu thereof:
For the services and facilities described in Section 1, the Fund will
pay to the Adviser, at the end of each calendar month, an investment
management fee computed at an annual rate of:
RATE Net Assets
------ --------------------------------
.6500% For the first $125 million
.6375% For the next $125 million
.6250% For the next $250 million
.6125% For the next $500 million
.6000% For the next $1 billion
.5875% On assets of $2 billion and over
For the month and year in which this Agreement becomes effective, or
terminates, there shall be an appropriate proration on the basis of the
number of days that the Agreement shall have been in effect during the
month and year, respectively. The services of the Adviser to the Fund
under this Agreement are not to be deemed exclusive, and the Adviser shall
be free to render similar services or other services to others so long as
its services hereunder are not impaired thereby.
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2. The first paragraph of Section 7 shall be deleted in its entirety and
the following inserted in lieu thereof:
This Agreement shall continue in effect until August 1, 1994,
unless and until terminated by either party as hereinafter provided,
and shall continue in force from year to year thereafter, but only
as long as such continuance is specifically approved, at least
annually, in the manner required by the Investment Company Act of
1940.
IN WITNESS WHEREOF, each of the parties has caused this Amendment to be
executed in its name and on its behalf by a duly authorized officer as of the
day and year first above written.
NUVEEN PREMIUM INCOME MUNICIPAL FUND, INC.
By: /s/ Xxxxx Xxxxxxxxxx
------------------------
Xxxxx Xxxxxxxxxx
Vice President
ATTEST:
/s/ Xxxxxxx X. Xxxxxxxxx
------------------------
Xxxxxxx X. Xxxxxxxxx
Assistant Secretary NUVEEN ADVISORY CORP.
By: /s/ J. Xxxxxx X. Xxxxxxxx
------------------------
Xxxxxx X. Xxxxxxxx
Vice President
ATTEST:
/s/ Xxxxx Xxxxxx
------------------------
Xxxxx Xxxxxx
Assistant Secretary
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Renewal of Investment Management Agreement
This Agreement made this 23rd day of February, 1993 by and between Nuveen
Premium Income Municipal Fund, Inc., a Minnesota corporation (the "Fund"), and
Nuveen Advisory Corp., a Delaware corporation (the "Adviser");
WHEREAS, the parties hereto are the contracting parties under that certain
Investment Management Agreement (the "Agreement") pursuant to which the Adviser
furnishes investment management and other services to the Fund; and
WHEREAS, the Agreement terminates August 1, 1993 unless continued in the
manner required by the Investment Company Act of 1940; and
WHEREAS, the Board of Directors and the shareholders of the Fund, at meetings
called for the purpose of reviewing the Agreement, have approved the Agreement
and its continuance until August 1, 1993 in the manner required by the
Investment Company Act of 1940.
NOW THEREFORE, in consideration of the mutual covenants contained in the
Agreement the parties hereto do hereby continue the Agreement in effect until
August 1, 1993 and ratify and confirm the Agreement in all respects.
NUVEEN PREMIUM INCOME MUNICIPAL
FUND, INC.
By: /s/ Xxxxx Xxxxxxxxxx
------------------------
Xxxxx Xxxxxxxxxx
Vice President
ATTEST:
/s/ Xxxxxxx X. Xxxxxxxxx
------------------------
Xxxxxxx X. Xxxxxxxxx
Assistant Secretary NUVEEN ADVISORY CORP.
By: /s/ J. Xxxxxx X. Xxxxxxxx
------------------------
Xxxxxx X. Xxxxxxxx
ATTEST:
/s/Xxxxx Xxxxxx
------------------------
Xxxxx Xxxxxx
Assistant Secretary
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INVESTMENT MANAGEMENT AGREEMENT
AGREEMENT made this 27th day of April 1992, by and between NUVEEN PREMIUM
INCOME MUNICIPAL FUND, INC., a Minnesota corporation (the "Fund"), and NUVEEN
ADVISORY CORP., a Delaware corporation (the "Adviser"), to be effective May 1,
1992.
W I T N E S S E T H
In consideration of the mutual covenants hereinafter contained, it is hereby
agreed by and between the parties hereto as follows:
1. The Fund hereby employs the Adviser to act as the investment adviser for,
and to manage the investment and reinvestment of the assets of the Fund in
accordance with the Fund's investment objective and policies and limitations,
and to administer the Fund's affairs to the extent requested by and subject to
the supervision of the Board of Directors of the Fund for the period and upon
the terms herein set forth. The investment of the Fund's assets shall be
subject to the Fund's policies, restrictions and limitations with respect to
securities investments as set forth in the Fund's then current registration
statement under the Investment Company Act of 1940, and all applicable laws
and the regulations of the Securities and Exchange Commission relating to the
management of registered closed-end, diversified management investment
companies.
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-2-
The Adviser accepts such employment and agrees during such period to render
such services, to furnish office facilities and equipment and clerical,
bookkeeping and administrative services (other than such services, if any,
provided by the Fund's transfer agent) for the Fund, to permit any of its
officers or employees to serve without compensation as directors or officers
of the Fund if elected to such positions, and to assume the obligations herein
set forth for the compensation herein provided. The Adviser shall, for all
purposes herein provided, be deemed to be an independent contractor and,
unless otherwise expressly provided or authorized, shall have no authority to
act for nor represent the Fund in any way, nor otherwise be deemed an agent of
the Fund.
2. For the services and facilities described in Section 1, the Fund will pay
to the Adviser, at the end of each calendar month, an investment management
fee computed at an annual rate of .650 of 1% of the average daily net assets
for the first $500 million in net assets of the Fund, .625% of 1% of average
daily net assets in excess of $500 million but not more than $1 billion, and
.600 of 1% of average daily net assets in excess of $1 billion. For the month
and year in which this Agreement becomes effective, or terminates, there shall
be an appropriate proration on the basis of the number of days that the
Agreement shall have been in effect during the month and year, respectively.
The services of the Advisor to the Fund under this Agreement are not to be
deemed exclusive, and the Adviser shall be free to render similar services or
other services to others so long as its services hereunder are not impaired
thereby.
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-3-
3. The Adviser shall arrange for officers or employees of the Adviser to
serve, without compensation from the Fund, as directors, officers or agents of
the Fund, if duly elected or appointed to such positions, and subject to their
individual consent and to any limitations imposed by law.
4. Subject to applicable statutes and regulations, it is understood that
officers, directors, or agents of the Fund are, or may be, interested in the
Adviser as officers, directors, agents, shareholders or otherwise, and that
the officers, directors, shareholders and agents of the Adviser may be
interested in the Fund otherwise than as directors, officers or agents.
5. The Adviser shall not be liable for any loss sustained by reason of the
purchase, sale or retention of any security, whether or not such purchase,
sale or retention shall have been based upon the investigation and research
made by any other individual, firm or corporation, if such recommendation
shall have been selected with due care and in good faith, except loss
resulting from willful misfeasance, bad faith, or gross negligence on the part
of the Adviser in the performance of its obligations and duties, or by reason
of its reckless disregard of its obligations and duties under this Agreement.
6. The Adviser currently manages other investment accounts and funds,
including those with investment objectives similar to the Fund, and reserves
the right to manage other such accounts and funds in the future. Securities
considered as investments for the Fund may also be appropriate for other
investment accounts and funds that may be managed by the Adviser.
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-4-
Subject to applicable laws and regulations, the Adviser will attempt to
allocate equitably portfolio transactions among the portfolios of its other
investment accounts and funds purchasing securities whenever decisions are
made to purchase or sell securities by the Fund and one or more of such other
accounts or funds simultaneously. In making such allocations, the main factors
to be considered by the Adviser will be the respective investment objectives
of the Fund and such other accounts and funds, the relative size of portfolio
holdings of the same or comparable securities, the availability of cash for
investment by the Fund and such other accounts and funds, the size of
investment commitments generally held by the Fund and such accounts and funds,
and the opinions of the persons responsible for recommending investments to
the Fund and such other accounts and funds.
7. This Agreement shall continue in effect until May 1, 1993, unless and until
terminated by either party as hereinafter provided, and shall continue in
force from year to year thereafter, but only as long as such continuance is
specifically approved, at least annually, in the manner required by the
Investment Company Act of 1940.
This Agreement shall automatically terminate in the event of its
assignment, and may be terminated at any time without the payment of any
penalty by the Fund or by the Adviser upon sixty (60) days' written notice to
the other party. The Fund may effect termination by action of the Board of
Directors or by vote of a majority of the outstanding voting securities of the
Fund, accompanied by appropriate notice.
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-5-
This Agreement may be terminated, at any time, without the payment of any
penalty, by the Board of Directors of the Fund, or by vote of a majority of
the outstanding voting securities of the Fund, in the event that it shall have
been established by a court of competent jurisdiction that the Adviser, or any
officer or director of the Adviser, has taken any action which results in a
breach of the covenants of the Adviser set forth herein.
Termination of this Agreement shall not affect the right of the Adviser
to receive payments on any unpaid balance of the compensation, described in
Section 2, earned prior to such termination.
8. If any provision of this Agreement shall be held or made invalid by a court
decision, statute, rule, or otherwise, the remainder shall not be thereby
affected.
9. Any notice under this Agreement shall be in writing, addressed and
delivered or mailed, postage prepaid, to the other party at such address as
such other party may designate for receipt of such notice.
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- 6 -
IN WITNESS WHEREOF, the Fund and the Adviser have caused this Agreement
to be executed on the day and year above written.
NUVEEN PREMIUM INCOME MUNICIPAL
FUND, INC.
By: /s/ Xxxxx Xxxxxxxxxx
---------------------------
Xxxxx Xxxxxxxxxx
Vice President
ATTEST:
/s/ Xxxxxxx X. Xxxxxxxxx
------------------------
Xxxxxxx X. Xxxxxxxxx
Assistant Secretary NUVEEN ADVISORY CORP.
By: /s/ J. Xxxxxx X. Xxxxxxxx
----------------------------
Xxxxxx X. Xxxxxxxx
Vice President
ATTEST:
/s/ Xxxxx Xxxxxx
------------------------
Xxxxx Xxxxxx
Assistant Secretary
