Exh 8(a)(4)
AARP INCOME TRUST
Custodian Contract
Amendment No. 1
AARP Income Trust (the "Fund") and State Street Bank and Trust
Company (the "Custodian") hereby agree to amend the Custodian Contract entered
into on November 30, 1984 pursuant to Article IX therein, as follows:
1. Page 7, Article II, Section B. By inserting the following new
Paragraphs 12 and 13 as follows and by renumbering the existing Paragraphs 12
and 13 as Paragraphs 14 and 15, respectively:
"12) For delivery in accordance with the provisions of any agreement
among the Fund, the Custodian and a broker-dealer registered
under the Securities Exchange Act of 1934 (the "Exchange Act")
and a member of The National Association of Securities Dealers,
Inc. ("NASD"), relating to compliance with the rules of The
Options Clearing Corporation and of any registered national
securities exchange, or of any similar organization or
organizations, regarding escrow or other arrangements in
connection with transactions by the Fund;
13) For delivery in accordance with the provisions of any agreement
among the Fund, the Custodian, and a futures commission merchant
registered under the Commodity Exchange Act, relating to
compliance with the rules of the Commodity Futures Trading
Commission and/or any Contract Market, or any similar
organization or organizations, regarding account deposits in
connection with transactions by the Fund;"
2. Page 11, Article II, Section H, Paragraph 1, line 1. By inserting
after "securities" the following: ", futures contracts or options on futures
contracts".
3. Page 11, Article II, Section H, Paragraph 1, line 3. By inserting
after "securities" the following: ", or evidence of title to futures contracts
or options on futures contracts,".
4. Page 12, Article II, Section H, Paragraph 1, line 20. By
inserting after "another bank" the following: "or a broker-dealer which is a
member of the NASD,".
5. Page 13, Article II, Section H. By adding a new Paragraph 6 as
follows and by renumbering the current Paragraph 6 as Paragraph 7:
"6)For payment of the amount of dividends received in respect of
securities sold short;"
6. Page 18, Article II. By adding the following new Section M. as
follows and by renumbering the current Sections M., N., O., P., Q. and R. as
Sections N., 0., P., Q., R. and S., respectively:
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"M. Segregated Account. The Custodian shall upon receipt of proper
instructions, which may be standing instructions, establish and
maintain a segregated account or accounts for and on behalf of
the Fund, into which account or accounts may be transferred cash
and/or securities, including securities maintained in an account
by the Custodian pursuant to Section L hereof, (i) in accordance
with the provisions of any agreement among the Fund, the
Custodian and a broker-dealer registered under the Exchange Act
and a member of the NASD (or any futures commission merchant
registered under the Commodity Exchange Act), relating to
compliance with the rules of The Options Clearing Corporation and
of any registered national securities exchange (or the Commodity
Futures Trading Commission or any registered contract market) or
of any similar organization or organizations, regarding escrow or
other arrangements in connection with transactions by the Fund,
(ii) for purposes of segregating cash or government securities in
connection with options purchased, sold or written by the Fund or
commodity futures contracts or options thereon purchased or sold
by the Fund, (iii) for the purposes of compliance by the Fund
with the procedures required by Investment Company Act Release
No. 10666, or any subsequent release or releases of the
Securities and Exchange Commission relating to the maintenance of
segregated accounts by registered investment companies and (iv)
for other proper corporate purposes, but only, in the case of
clause (iv), upon receipt of, in addition to proper instructions,
a certified copy of a resolution of the Trustees or of the
Executive Committee signed by an officer of the Fund and
certified by the Secretary or an Assistant Secretary, setting
forth the purpose or purposes of such segregated account and
declaring such purposes to be proper corporate purposes."
7. Page 19, Article II, Section 0 (pre-amendment), line 5. By
inserting after " connection therewith" the following: "and notices of exercise
of call and put options written by the Fund and the maturity of futures
contracts purchased or sold by the Xxxx)".
0. Page 23, Article VI, line 5. By inserting after "safe-guarding
securities," the following: "futures contracts and options on futures
contracts,".
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This Amendment shall become effective as of its date of execution.
IN WITNESS WHEREOF, each of the parties has caused this instrument
to be executed in its name and behalf by its duly authorized representative and
its seal to be hereunder affixed as of the 29th day of July, 1985.
AARP INCOME TRUST
(SEAL)
By /s/ Xxxxx X. Xxx
--------------------------------
Title: Executive Vice President
STATE STREET BANK
AND TRUST COMPANY
(SEAL)
By /s/ [ILLEGIBLE]
--------------------------------
Title: Vice President
