Exhibit (g)(25)
NORTHERN FUNDS
ADDENDUM NO. 6 TO THE FOREIGN CUSTODY AGREEMENT
This Addendum No. 6, dated as of the 14th day of February, 2005, is
entered into between NORTHERN FUNDS (the "Trust"), a Delaware statutory trust,
and THE NORTHERN TRUST COMPANY ("Northern"), an Illinois state bank.
WHEREAS, the Trust and Northern have entered into a Foreign Custody
Agreement dated April 1, 1994, as amended to date (the "Agreement"), pursuant to
which the Trust has appointed Northern to act as custodian to the Trust for its
International Growth Equity and Global Fixed Income Funds; and
WHEREAS, the Trust is establishing the International Equity Index Fund
(the "New Fund"), and it desires to retain Northern to act as custodian therefor
under the Agreement, and Northern is willing to so act; and
NOW THEREFORE, the parties hereto, intending to be legally bound, hereby
agree as follows:
1. Appointment. The Trust hereby appoints Northern custodian to the Trust for
the New Fund for the period and terms set forth in the Agreement. Northern
hereby accepts such appointment and agrees to render the services set
forth in the Agreement for the compensation therein provided.
2. Capitalized Terms. From and after the date hereof, the term "Funds" as
used in the Agreement shall be deemed to include the New Fund. Capitalized
terms used herein and not otherwise defined shall have the meanings
ascribed to them in the Agreement.
3. Cash Balance Compensation. Northern shall compensate the Fund for
uninvested U.S. dollar cash balances ("Cash Balances") maintained with
Northern at the end of each day in accordance with this paragraph ("Cash
Balance Compensation"). Cash Balance Compensation with respect to the
Fund's uninvested Cash Balances shall be determined at the end of each day
based on an annual rate equal to 96% of the previous calendar month's
average 90-day Treasury xxxx interest rate. The amount of the Fund's
accumulated Cash Balance Compensation shall be paid monthly in the form of
reductions to the custody fees otherwise allocable to the Fund under the
Agreement for such month. In the event that the Fund's Cash Balance
Compensation for any month exceeds the custody fees payable by the Fund
under the Agreement for such month, the Fund's excess Cash Balance
Compensation may be carried forward and credited against future custody
fees, provided that no excess Cash Balance Compensation may be carried
forward beyond the end of any fiscal year.
4. Miscellaneous. The initial term of the Agreement with respect to the New
Fund shall continue, unless sooner terminated in accordance with the
Agreement, until March 31, 2005. Except to the extent supplemented hereby,
the Agreement shall remain unchanged and in full force and effect, and is
hereby ratified and confirmed in all respects as supplemented hereby.
IN WITNESS WHEREOF, the undersigned have executed this Addendum as of the
date and year first above written.
NORTHERN FUNDS
Attest: /s/ Xxxxx Xxxxxxxx By: /s/ Xxxxx X. Xxxxxxxx
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Name: Xxxxx X. Xxxxxxxx
Title: President
THE NORTHERN TRUST COMPANY
Attest: /s/ Xxxxx Xxxxxxxx By: /s/ Xxxxxxx X. Xxxxxx III
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Name: Xxxxxxx X. Xxxxxx III
Title: Vice President
