AGREEMENT AMONG JOINT INSUREDS
This
Agreement dated as of April 16, 2003, is hereby entered into by and between The
Merger Fund VL (the “VL Fund”), and The Merger Fund (the “Merger Fund”) as may
be amended from time to time.
W I T N E S S E T
H:
WHEREAS,
Westchester Capital Management, Inc., the VL Fund and The Merger Fund are
registered investment companies required to be covered by a fidelity bond
pursuant to Rule 17g-l of the Investment Company Act of 1940 (the “Act”);
and
WHEREAS,
Westchester Capital Management, Inc., the VL Fund and The Merger Fund are each
named as a joint insured in a joint insured bond (the “Bond”); and
WHEREAS,
Westchester Capital Management, Inc., the VL Fund and The Merger Fund are each
required under Rule 17g-l(f) of the Act to enter into an agreement among joint
insured with the covered entities of such Bond;
NOW
THEREFORE, the covered parties, Westchester Capital Management, Inc., the VL
Fund and The Merger Fund, hereby agree that in the event recovery is received
under the Bond as a result of a loss sustained by two or more of the named
insureds, the VL Fund and The Merger Fund shall receive an amount at least equal
to the amount which such Westchester Capital Management, Inc., VL Fund and The
Merger Fund would have received had such party provided and maintained a single
insured bond with the minimum coverage required under the Act.
IN
WITNESS WHEREOF, this Agreement has been executed as of the day and year first
above written.
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THE
MERGER FUND VL
By:
/s/ Xxx Xxxxxx
Name:
Xxx Xxxxxx
Title:
CCO
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THE
MERGER FUND
By:
/s/ Xxx Xxxxxx
Name:
Xxx Xxxxxx
Title:
CCO
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Westchester
Capital Management, Inc.
By:
/s/ Xxxxxxxxx W/ Green
Name:
Xxxxxxxxx X. Xxxxx
Title:
President
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