World Gold Trust Services, LLC 510 Madison Avenue, 9th Floor New York, NY 10022
Exhibit 10.6
World Gold Trust Services, LLC
000 Xxxxxxx Xxxxxx, 0xx Xxxxx
Xxx Xxxx, XX 00000
000 Xxxxxxx Xxxxxx, 0xx Xxxxx
Xxx Xxxx, XX 00000
November 9, 0000
Xxxxx Xxxxxx Xxxxxx Xxxxxxx, LLC
Xxx Xxxxxxx Xxxxxx
Xxxxxx, Xxxxxxxxxxxxx 00000
Xxx Xxxxxxx Xxxxxx
Xxxxxx, Xxxxxxxxxxxxx 00000
Re: Duration of Agreement
Reference is made to the Marketing Agent Agreement made as of November 16, 2004 (as amended,
the “Marketing Agent Agreement”) by and between World Gold Trust Services, LLC (the
“Sponsor”), a Delaware limited liability company, and State Street Global Markets, LLC (the
“Marketing Agent”), a Delaware limited liability company, as amended by letter agreements
dated March 14, 2005, November 26, 2007, and May 20, 2008.
The Sponsor and the Marketing Agent wish to amend the Marketing Agent Agreement to extend the
duration of the expense cap specified in Section 3.3(b) of the Marketing Agent Agreement to include
any renewal term of the Marketing Agent Agreement. In order to accomplish the foregoing, the
Sponsor and the Marketing Agent wish to adopt the below amendment to the Marketing Agent Agreement:
1. | Section 3.3(b) is hereby amended to read in its entirety as follows: | ||
(b)Expenses Cap. If, at the end of any month during the period beginning November 11, 2011 and until the termination of this Agreement, the estimated ordinary expenses of the Trust for such month (including the Marketing Agent’s fees hereunder and the Sponsor’s fees under the Trust Indenture for such month) exceed an amount equal to forty basis points (0.40%) per annum of the daily Adjusted Net Asset Value of the Trust for such month (as calculated pursuant to the Trust Indenture as in effect on the date hereof), the fees payable to the Sponsor and the Marketing Agent for such month shall be reduced by the amount of such excess in equal shares up to the amount of such fees. |
Except as otherwise set forth above, this letter does not constitute an amendment, waiver or
modification of any provision of the Marketing Agent Agreement.
This letter agreement shall be governed by the laws of the State of New York, without
reference to the principles or rules of conflict of laws to the extent the laws of a different
jurisdiction would be required thereby.
This letter agreement may be executed in any number of counterparts, each of which when
executed and delivered shall be deemed an original, but together shall constitute one and the same
agreement. Facsimile signatures shall be acceptable and binding. Kindly evidence your agreement
to this amendment by signing below.
Very truly yours, WORLD GOLD TRUST SERVICES, LLC |
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By: | /s/ Xxxxx Xxxxxxxxx | |||
Name: | Xxxxx Xxxxxxxxx | |||
Title: | Managing Director | |||
AGREED AND ACCEPTED As of the date first set forth above: STATE STREET GLOBAL MARKETS, LLC |
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By: | /s/ Xxxxxxx Xxxxxx | |||
Name: | Xxxxxxx Xxxxxx | |||
Title: | Senior Managing Director of Supervising Principal | |||
ACKNOWLEDGED As of the date first set forth above: THE BANK OF NEW YORK MELLON |
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By: | /s/ Xxxxxx Xxxxxxx | |||
Name: | Xxxxxx Xxxxxxx | |||
Title: | Vice President | |||