Exhibit d (ii) under Form N-1A
Exhibit 10 under Item 601/Reg. S-K
Amendment No 1 to
Investment Advisory Contract
The Investment Advisory Contract between Federated Short-Term
Municipal Trust (formerly, Federated Short-Intermediate Municipal Trust)
dated August 1, 1989 is hereby amended as follows:
Paragraph 5 is deleted in its entirety and replaced with the
following:
5. Adviser shall reimburse the Institutional Class of shares of
the Fund (limited to the amount of gross investment advisory fee
paid by the Institutional Class of shares and computed in
accordance with the provisions of paragraph 4) in any fiscal year
or portion thereof, the amount, if any, by which the aggregate
normal operating expenses of the Institutional Class of shares of
the Fund, including the gross investment advisory fee, but
excluding interest, taxes, brokerage commissions, Federal and
State registration fees, expenses of withholding taxes, and
extraordinary expenses for such fiscal year or portion thereof
exceed .45 of 1% (or in the case of a portion of the fiscal year,
.0375 of 1% multiplied by the number of calendar months in such
period) of the average daily net assets of the Institutional
Class of shares of the Fund for such period. This obligation
does not include any expenses incurred by shareholders who choose
to avail themselves of the Transfer Agent's subaccounting
facilities. Such reimbursement will be accounted for and
adjusted annually in accordance with generally accepted
accounting principles and any Rules and Regulations of the
Securities and Exchange Commission applicable thereto.
IN WITNESS WHEREOF, the parties have caused this Amendment to the
Investment Advisory Contract to be executed on their behalf by their duly
authorized officers hereto this 1st day of April, 1999.
FEDERATED INVESTMENT MANAGEMENT COMPANY
By: /s/ X. Xxxxxx Xxxxxxxxx
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Name: X. Xxxxxx Xxxxxxxxx
Title: Vice President
FEDERATED SHORT-TERM MUNICIPAL TRUST
By: /s/ X. Xxxxxxxxxxx Xxxxxxx
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Name: X. Xxxxxxxxxxx Xxxxxxx
Title: Executive Vice President
