EXHIBIT C
AGREEMENT
ICI MUTUAL INSURANCE COMPANY
INVESTMENT COMPANY BLANKET BOND
AMONG
XXXXXXXX CAPITAL FUND, INC.
XXXXXXXX CASH MANAGEMENT FUND, INC.
XXXXXXXX COMMON STOCK FUND, INC.
XXXXXXXX COMMUNICATIONS AND INFORMATION FUND, INC.
XXXXXXXX FRONTIER FUND, INC.
XXXXXXXX GROWTH FUND, INC.
XXXXXXXX GLOBAL FUND SERIES, INC.
XXXXXXXX HIGH INCOME FUND SERIES
XXXXXXXX INCOME AND GROWTH FUND, INC.
XXXXXXXX INVESTMENT GRADE FIXED INCOME FUND, INC.
XXXXXXXX LASALLE REAL ESTATE FUND SERIES, INC.
XXXXXXXX MUNICIPAL FUND SERIES, INC.
XXXXXXXX MUNICIPAL SERIES TRUST
XXXXXXXX NEW JERSEY MUNICIPAL FUND, INC.
XXXXXXXX NEW TECHNOLOGIES FUND, INC.
XXXXXXXX NEW TECHNOLOGIES FUND II, INC.
XXXXXXXX PENNSYLVANIA MUNICIPAL FUND SERIES
XXXXXXXX PORTFOLIOS, INC.
XXXXXXXX QUALITY MUNICIPAL FUND, INC.
XXXXXXXX SELECT MUNICIPAL FUND, INC.
XXXXXXXX TARGETHORIZON ETF PORTFOLIOS, INC.
XXXXXXXX TIME HORIZON/HARVESTER SERIES, INC.
XXXXXXXX VALUE FUND SERIES, INC.
TRI-CONTINENTAL CORPORATION
XXXXXXXX DATA CORP.
XXXXXXXX DATA CORP. EMPLOYEES' THRIFT PLAN
XXXXXXXX ADVISORS, INC.
J. & X. XXXXXXXX & CO. INCORPORATED MATCHED ACCUMULATION PLAN
September 15, 2005
Agreement, dated as of September 15, 2005 by and among Xxxxxxxx Capital
Fund, Inc., Xxxxxxxx Cash Management Fund, Inc., Xxxxxxxx Common Stock Fund,
Inc., Xxxxxxxx Communications and Information Fund, Inc., Xxxxxxxx Frontier
Fund, Inc., Xxxxxxxx Growth Fund, Inc., Xxxxxxxx Global Fund Series, Inc.,
Xxxxxxxx High Income Fund Series, Xxxxxxxx Income and Growth Fund, Inc.,
Xxxxxxxx Investment Grade Fixed Income Fund, Inc., Xxxxxxxx LaSalle Real Estate
Fund Series, Inc., Xxxxxxxx Municipal Fund Series, Inc., Xxxxxxxx Municipal
Series Trust, Xxxxxxxx New Jersey Municipal Fund, Inc., Xxxxxxxx New
Technologies Fund, Inc., Xxxxxxxx New Technologies Fund II, Inc., Xxxxxxxx
Pennsylvania Municipal Fund Series, Xxxxxxxx Portfolios, Inc., Xxxxxxxx
Quality Municipal Fund, Inc., Xxxxxxxx Select Municipal Fund, Inc., Xxxxxxxx
TargetHorizon ETF Portfolios, Inc., Xxxxxxxx Time Horizon/Harvester Series,
Inc., Xxxxxxxx Value Fund Series, Inc., Tri-Continental Corporation
(hereinafter collectively called the "Investment Co
mpanies"), Xxxxxxxx Data Corp. ("SDC"), SDC Employees' Thrift Plan, Xxxxxxxx
Advisors, Inc., and J. & X. Xxxxxxxx & Co. Incorporated Matched Accumulation
Plan.
Pursuant to an Agreement, dated July 17, 2003, SDC presently carries an
Investment Company Blanket Bond in the amount of $24,000,000 insuring against
losses from larceny and embezzlement, on a joint basis, for the protection of
itself and the parties thereto (as amended by specific riders to the bond).
The parties thereto desire to amend as of September 15, 2005, the Agreement
dated July 17, 2003, as a result of their intention to permit Xxxxxxxx
TargetHorizon ETF Portfolios, Inc. to participate in the existing Blanket Bond
effective on the date upon which its registration statement becomes effective
(expected to be on or about October 3, 2005).
NOW, THEREFORE, in consideration of the promises and the mutual covenants and
agreements hereinafter contained, the parties hereto agree as follows:
(1) SDC will arrange for the continuation of the Blanket Bond, by the ICI
Mutual Insurance Company authorized to do business in the place where the bond
was issued, for the protection of itself, the Investment Companies, SDC
Employees' Thrift Plan, Xxxxxxxx Advisors, Inc. and J. & X. Xxxxxxxx & Co.
Incorporated Matched Accumulation Plan, collectively referred to as the
Insureds, in the amount indicated:
The Blanket Bond is in the aggregate amount of $24,000,000 and, inclusive of
any riders thereto, provides that:
(a) The bond shall not be cancelled, terminated or modified except after
written notice shall have been given by the acting party to the affected
party, and by the underwriter to all registered management investment companies
named as Insureds, and to the Securities and Exchange Commission, Washington,
D. C., not less than sixty days prior to the effective date of such
cancellation, termination or modification; and,
(b) The Underwriter shall furnish each registered management investmen
company named as an Insured with (1) a copy of the bond and any amendment
thereto, promptly after the execution thereof, (2) a copy of each formal
filing of a claim under the bond by any other named Insured promptly after
receipt thereof, and (3) notification of the terms of the settlement of each
such claim prior to the execution of the settlement.
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(2) The premiums payable in respect of the joint policy shall be paid by SDC
which may then charge each Insured for its pro rata share of such premium.
(3) The Insureds shall have the right to receive insurance proceeds paid in
respect of any loss or losses covered by the joint policy, as follows:
(a) In the event that such proceeds are paid in respect of a loss or
losses suffered by only one of the Insureds, all said proceeds shall be paid to
it.
(b) In the event that such proceeds are paid in respect of losses
suffered by two or more of the Insureds, which losses shall constitute but a
"single loss" under the provisions of the joint policy and the total of which
losses shall not exceed the amount of such proceeds paid in respect thereof,
each of said Insureds shall share in such proceeds to the extent of its
individual loss.
(c) In the event that such proceeds are paid in respect of losses
suffered by two or more of the Insureds, which losses shall constitute but a
"single loss" under the provisions of the joint policy and the total of which
losses shall exceed the amount of such proceeds paid in respect thereof, each
of said Insureds shall share in such proceeds in the proportion which its
individual loss bears to the total of the individual losses of said Insureds,
provided, that such proceeds, in the case of a loss suffered by one of the
Investment Companies, shall be at least equal to the amount which it would have
received had it provided and maintained a single insured bond with the minimum
coverage required by Rule 17g-1, as amended; and provided further, that such
proceeds in the case of a loss suffered by the SDC Employees' Thrift Plan
and/or by the J. & X. Xxxxxxxx & Co. Incorporated Matched Accumulation Plan
shall be, after giving consideration to the preceding clause, at least equal
to the amount which each would have received had each plan provided and
maintained a separate bond with the minimum coverage required by Section 412
of the Employee Retirement Income Security Act of 1974.
(4) This Agreement shall not be construed as imposing upon any of the parties
hereto any obligations to indemnify any other party against any loss or losses
suffered by such party.
(5) The aforementioned Agreement of July 17, 2003 between the parties hereto
is cancelled and superseded in its entirety by the provisions of this
Agreement.
(6) This Agreement shall be construed in accordance with the laws of the
State of New York.
IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be
signed in various counterparts and corporate seals where appropriate to be
hereto duly affixed by its proper officers thereunto duly authorized, all of
the day and year first above written.
XXXXXXXX CAPITAL FUND, INC.
XXXXXXXX CASH MANAGEMENT FUND, INC.
XXXXXXXX COMMON STOCK FUND, INC.
XXXXXXXX COMMUNICATIONS AND INFORMATION FUND, INC.
XXXXXXXX FRONTIER FUND, INC.
XXXXXXXX GROWTH FUND, INC.
XXXXXXXX GLOBAL FUND SERIES, INC.
XXXXXXXX HIGH INCOME FUND SERIES
XXXXXXXX INCOME AND GROWTH FUND, INC.
XXXXXXXX INVESTMENT GRADE FIXED INCOME FUND, INC.
XXXXXXXX LASALLE REAL ESTATE FUND SERIES, INC.
XXXXXXXX MUNICIPAL FUND SERIES, INC.
XXXXXXXX MUNICIPAL SERIES TRUST
XXXXXXXX NEW JERSEY MUNICIPAL FUND, INC.
XXXXXXXX NEW TECHNOLOGIES FUND, INC.
XXXXXXXX NEW TECHNOLOGIES FUND II, INC.
XXXXXXXX PENNSYLVANIA MUNICIPAL FUND SERIES
XXXXXXXX PORTFOLIOS, INC.
XXXXXXXX QUALITY MUNICIPAL FUND, INC.
XXXXXXXX SELECT MUNICIPAL FUND, INC.
XXXXXXXX TARGETHORIZON ETF PORTFOLIOS, INC.
XXXXXXXX TIME HORIZON/HARVESTER SERIES, INC.
XXXXXXXX VALUE FUND SERIES, INC.
TRI-CONTINENTAL CORPORATION
Attest:
/s/ Xxxxx Xxxxx By /s/ Xxxxxx X. Xxxx
Secretary Vice President
XXXXXXXX DATA CORP.
Attest:
/s/ Xxxxx Xxxxx By /s/ Xxxx X. Xxxxx
Secretary President
XXXXXXXX DATA CORP.
EMPLOYEES' THRIFT PLAN
By /s/ Xxxx X. Xxxxx
Committee Member
Attest:
/s/ Xxxxx Xxxxx By /s/ Xxxxxxxx Xxxxxxx
Witness Committee Member
J. & X. XXXXXXXX & CO. INCORPORATED
MATCHED ACCUMULATION PLAN
By /s/ Xxxxxx X. Xxxx
Committee Member
Attest:
/s/ Xxxxx Xxxxx By /s/ Xxxxxxxx Xxxxxxx
Witness Committee Member
XXXXXXXX ADVISORS, INC.
Attest:
/s/ Xxxxx Xxxxx By /s/ Xxxxxxx X. Xxxxxx
Secretary President
