AMENDMENT NO. 1 FIDELITY BOND SHARING AGREEMENT
Exhibit C
AMENDMENT NO. 1
FIDELITY BOND SHARING AGREEMENT
AMENDMENT NO. 1 to the Fidelity Bond Sharing Agreement (“Amendment No. 1”), dated as of June 7, 2011, between EQ Advisors Trust, a Delaware statutory trust (“Trust”) on behalf of each of its series specified in Appendix A attached hereto (“Portfolios”) and AXA Equitable Funds Management Group, LLC, the investment manager for the Trust (“Manager”).
The Portfolios hereby agree to modify and amend the Fidelity Bond Sharing Agreement, dated as of May 1, 2011, between the Trust, on behalf of each of the Portfolios, and the Manager (“Agreement”), as follows:
| 1. | New Portfolio. The Trust hereby includes the AXA Ultra Conservative Strategy Portfolio in the Agreement from and after the date hereof for all purposes on the terms and conditions contained in the Agreement. |
| 2. | Appendix A. Appendix A to the Agreement, setting forth the Portfolios of the Trust participating on behalf of which the Trust is entering into the agreement is hereby replaced in its entirety by Appendix A attached hereto. |
Except as modified and amended hereby, the Agreement is hereby ratified and confirmed in full force and effect in accordance with its terms.
IN WITNESS WHEREOF, the parties have executed and delivered this Amendment No. 1 as of the date first above set forth.
| EQ ADVISORS TRUST | AXA EQUITABLE FUNDS MANAGEMENT GROUP, LLC | |||||||
| By: | /s/ Xxxxx Xxxxx Xxxxx Xxxxx |
By: | /s/ Xxxxxx X. Xxxxx Xxxxxx X. Xxxxx | |||||
| Chief Financial Officer and Treasurer |
Chairman, Chief Executive Officer and President | |||||||
APPENDIX A
AMENDMENT NO. 1
FIDELITY BOND SHARING AGREEMENT
All Asset Allocation Portfolio
ATM Core Bond Portfolio
ATM Government Bond Portfolio
ATM International Portfolio
ATM Large Cap Portfolio
ATM Mid Cap Portfolio
ATM Small Cap Portfolio
AXA Balanced Strategy Portfolio
AXA Conservative Growth Strategy Portfolio
AXA Conservative Strategy Portfolio
AXA Growth Strategy Portfolio
AXA Moderate Growth Strategy Portfolio
AXA Tactical Manager 2000 Portfolio
AXA Tactical Manager 400 Portfolio
AXA Tactical Manager 500 Portfolio
AXA Tactical Manager International Portfolio
AXA Ultra Conservative Strategy Portfolio
EQ/AllianceBernstein Dynamic Wealth Strategies Portfolio
EQ/AllianceBernstein Small Cap Growth Portfolio
EQ/AXA Franklin Small Cap Value Core Portfolio
EQ/BlackRock Basic Value Equity Portfolio
EQ/Boston Advisors Equity Income Portfolio
EQ/Xxxxxxx Socially Responsible Portfolio
EQ/Capital Guardian Research Portfolio
EQ/Common Stock Index Portfolio
EQ/Core Bond Index
EQ/Xxxxx New York Venture Portfolio
EQ/Equity 500 Index Portfolio
EQ/Equity Growth PLUS Portfolio
EQ/Franklin Core Balanced Portfolio
EQ/Franklin Xxxxxxxxx Allocation Portfolio
EQ/GAMCO Mergers and Acquisitions Portfolio
EQ/GAMCO Small Company Value Portfolio
EQ/Global Bond PLUS Portfolio
EQ/Global Multi-Sector Equity Portfolio
EQ/Intermediate Government Bond Index Portfolio
EQ/International Core PLUS Portfolio
EQ/International ETF Portfolio
EQ/International Equity Index Portfolio
EQ/International Value PLUS Portfolio
EQ/JPMorgan Value Opportunities Portfolio
EQ/Large Cap Core PLUS Portfolio
EQ/Large Cap Growth Index Portfolio
EQ/Large Cap Growth PLUS Portfolio
EQ/Large Cap Value Index Portfolio
EQ/Large Cap Value PLUS Portfolio
EQ/Lord Xxxxxx Large Cap Core Portfolio
EQ/MFS International Growth Portfolio
EQ/Mid Cap Index Portfolio
EQ/Mid Cap Value PLUS Portfolio
EQ/Money Market Portfolio
EQ/Montag & Xxxxxxxx Growth Portfolio
EQ/Xxxxxx Xxxxxxx Mid Cap Growth Portfolio
EQ/Mutual Large Cap Equity Portfolio
EQ/Xxxxxxxxxxx Global Portfolio
EQ/PIMCO Ultra Short Bond Portfolio
EQ/Quality Bond PLUS Portfolio
EQ/Small Company Index Portfolio
EQ/X. Xxxx Price Growth Stock Portfolio
EQ/Xxxxxxxxx Global Equity Portfolio
EQ/UBS Growth and Income Portfolio
EQ/Xxx Xxxxxx Xxxxxxxx Portfolio
EQ/Xxxxx Fargo Omega Growth Portfolio
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FIDELITY BOND SHARING AGREEMENT
THIS AGREEMENT made and entered into this 1st day of May, 2011, by and between EQ Advisors Trust (“Trust”), an open-end management investment company, on behalf of each of its series specified in Appendix A (“Portfolios”) and AXA Equitable Funds Management Group, LLC, the investment manager for the Trust (“Manager”).
WHEREAS, the Manager acts as investment manager to each of the Portfolios and each Portfolio is advised by an investment adviser; and
WHEREAS, pursuant to the requirements of Rule 17g-1 of the Investment Company Act of 1940, as amended (the “1940 Act”), the Trust, on behalf of each Portfolio, and the Manager have obtained fidelity bond coverage as named parties (“Insureds”) under a joint insured fidelity bond, as amended from time to time to reflect any additions to Appendix A (“Bond”); and
WHEREAS, the Insureds, in order to be covered by a single fidelity bond, are required by Rule 17g-1 to be parties to an agreement that establishes the criteria by which premiums and recoveries under the Bond shall be allocated among the Portfolios.
NOW, THEREFORE, it is agreed as follows:
1. Amount of Coverage Maintained. The amount of fidelity coverage under the Bond shall at all times be at least equal in the amount to the sum of (i) the total amount of coverage which the Trust, on behalf of each Portfolio, would have been required to provide and maintain individually pursuant to the schedule set forth in paragraph (d) of Rule 17g-1 under the 1940 Act had the Trust not been a named insured under the Bond, plus (ii) the amount of each bond which the Manager would have been required to provide and maintain pursuant to federal statutes or regulations had it not been a named insured under the Bond. The amount of fidelity coverage under the Bond shall be approved at least annually by the Board of Trustees of the Trust, including a majority of those Trustees who are not “interested persons” of the Trust, including a majority of those Trustees who are not “interested persons” of the Trust as defined by Section 2(a)(19) of the 1940 Act. 2. Allocation of Recovery. In the event an actual pecuniary loss is suffered by any two or more of the Insureds under circumstances covered by the terms of the Bond, any recovery under the Bond shall be allocated among such Insureds as follows:
(a) If the total amount of coverage provided under the Bond exceeds or is equal to the amount of the combined total amount of loss suffered by the Insured suffering loss, then each such Insured shall be entitled to recover the amount of its actual loss.
(b) If the amount of loss suffered by each Insured suffering loss exceeds its minimum coverage requirement as set forth in Section 1 hereof and the amount of such Insureds’ combined actual losses exceeds the total amount of coverage provided under the Bond, then each such Insured shall be entitled to recover (i) its minimum coverage requirement and (ii) to the extent there exists any excess coverage, the proportion of such excess coverage which its minimum coverage requirements bears to the amount of the combined minimum coverage requirements of the Insureds
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suffering actual loss: provided, however, that if the actual loss of any such Insureds is less than the sum of (i) and (ii) above, then such difference shall be recoverable by the other Insured or Insureds in proportion to their relative minimum coverage requirements.
(c) If (i) the amount of actual loss suffered by any Insured is less than or equal to its minimum coverage requirement, (ii) the amount of actual loss of another Insured or the other Insureds exceeds its or their minimum coverage requirement or requirements, and (iii) the amount of the combined actual losses of the Insureds exceeds the total amount of coverage provided under the Bond, then any Insured which has suffered an amount of actual loss less than or equal to its minimum coverage requirements shall be entitled to recover its actual loss. If only one other Insured has suffered actual loss, it shall be entitled to recover the remainder of the amount of the coverage under the Bond. If more than one other Insured has suffered actual loss in excess of the remaining coverage, then they shall allocate such remaining amount of coverage in accordance with paragraph (b) of this Section 2.
3. Allocation of Premiums. No premium shall be paid under the Bond unless the Board of Trustees of the Trust, including a majority of those Trustees who are not “interested persons” of the Trust as defined by Section 2(a)(19) of the 1940 Act, shall approve the portion of the premium to be paid by the Trust, on behalf of each Portfolio. The premium payable on the Bond shall be allocated between the Trust and the Manager as determined by the Board of Trustees of the Trust.
4. Amendment. This Agreement may not be amended or modified in any manner except by written agreement executed by the parties.
5. Filing with the Commission. A copy of this Agreement and any amendment thereto shall be filed with the Securities and Exchange Commission within 10 days after the execution thereof.
6. Applicable Law. This Agreement shall be construed and the provisions thereof interpreted under and in accordance with laws of the State of New York.
7. Limitations of Liability of Trustees and Shareholders. A copy of the Agreement and Declaration of Trust of the Trust, and any amendments thereto, are on file with the Secretary of State of Delaware, and it is hereby agreed that this Agreement is executed on behalf of the Trustees of the Trust as Trustees and not individually and that the obligations of this Agreement are not binding upon any of the Trustees, officers or shareholders of the Trust individually but are binding only upon the assets and property of the Trust.
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IN WITNESS WHEREOF EQ Advisors Trust, on behalf of each of its Portfolios, and AXA Equitable Funds Management Group, LLC, have caused this Agreement to be executed as of the day and year first written.
| AXA EQUITABLE FUNDS MANAGEMENT GROUP, LLC |
||||||||
| By: | /s/ Xxxxxx X. Xxxxx |
By: | /s/ Xxxxx Xxxxx | |||||
| Xxxxx X. Xxxxx | Xxxxx Xxxxx | |||||||
| Chairman, Chief Executive Officer and President |
Chief Financial Officer and Treasurer | |||||||
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APPENDIX A
FIDELITY BOND SHARING AGREEMENT
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