Close

Form 485BXT Federated Hermes Adviser

June 23, 2021 4:12 PM EDT

1933 Act File No. 333-218374

1940 Act File No. 811-23259

 

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

Form N-1A

REGISTRATION STATEMENT

UNDER

 

THE SECURITIES ACT OF 1933 ☒

 

 

Pre-Effective Amendment No. ☐

 

 

Post-Effective Amendment No. 43 ☒

and/or

REGISTRATION STATEMENT

UNDER

 

THE INVESTMENT COMPANY ACT OF 1940 ☒

 

 

Amendment No. 44 ☒
 

Federated Hermes Adviser Series

(Exact name of Registrant as Specified in Charter)

 

Federated Hermes Funds
4000 Ericsson Drive

Warrendale, PA 15086-7561

(Address of Principal Executive Offices)

(412) 288-1900

(Registrant’s Telephone Number, including Area Code)

Peter J. Germain, Esquire
1001 Liberty Avenue

Pittsburgh, Pennsylvania 15222-3779

(Name and Address of Agent for Service)

 

It is proposed that this filing will become effective (check appropriate box):

 

☐ immediately upon filing pursuant to paragraph (b)
☒ On June 29, 2021 pursuant to paragraph (b)
☐ 60 days after filing pursuant to paragraph (a)(1)
☐ On __________ pursuant to paragraph (a)(1)
☐ 75 days after filing pursuant to paragraph (a)(2)
☐ On __________ pursuant to paragraph (a)(2) of Rule 485
  If appropriate, check the following:
☒ This post-effective amendment designates a new effective date for a previously filed post-effective amendment.
 

 

This amendment to the Registration Statement hereby incorporates by reference, pursuant to Rule 411 under the Securities Act of 1933, Parts A and B of Post-Effective Amendment No. 41 Filed April 8, 2021 in their entirety.

Item 28. Exhibits

(a) Declaration of Trust  
1 Conformed copy of the Certificate of Trust of the Registrant dated July 12, 2017, including Amendments dated August 15, 2018 and June 26, 2020 as filed via EDGAR in Post-Effective Amendment No. 33 on July 29, 2020 on Form N-1A (File Nos. 811-23259 and 333-218374).  
2 Conformed copy of the Declaration of Trust of the Registrant dated July 12, 2017, including Amendment Nos. 1 through 9 as filed via EDGAR in Post-Effective Amendment No. 37 on December 23, 2020 on Form N-1A (file Nos 81-23259 and 333-218374).  

 

(b) By-Laws  
  Conformed copy of the By-Laws of the Registrant dated July 12, 2017 as filed via EDGAR in Post-Effective Amendment No. 33 on July 29, 2020 on Form N-1A (File Nos. 811-23259 and 333-218374).  

 

(c) Instruments Defining Rights of Security Holders  
  Federated Securities Corp. does not issue share certificates for this Registrant.  

 

(d) Investment Advisory Contracts  
  Federated MDTA, LLC  
1 Conformed copy of the Investment Advisory Contract of the Registrant dated June 1, 2017, including Exhibits A and B, and Limited Power of Attorney dated June 1, 2017 +
  Federated Global Investment Management Corp.  
2 Conformed copy of the Investment Advisory Contract of the Registrant dated September 1, 2018, including Exhibits A through H and Limited Power of Attorney dated September 1, 2018 as filed via EDGAR in Post-Effective Amendment No. 31 on June 1, 2020 on Form N-1A (File Nos. 333-218374 and 811-23259).  
  Federated Investment Management Company  
3 Conformed copy of the Investment Advisory Contract of the Registrant dated December 1, 2018, including Exhibits A through E and Limited Power of Attorney dated December 1, 2018 as filed via EDGAR in Post-Effective Amendment No. 39 on January 20, 2021 on Form N-1A (File Nos 333-218374 and 811-23259.  
  Sub-Advisory Agreement-Federated Global Investment Management Corp and Hermes Investment Management Limited  
4 Conformed copy of the Sub-Advisory Agreement of the Registrant dated September 1, 2018, including Exhibits A through E and Limited Power of Attorney dated September 1, 2018 as filed via EDGAR in Post-Effective Amendment No. 31 on June 1, 2020 on Form N-1A (File Nos. 333-218374 and 811-23259).  
  Sub-Advisory Agreement-Federated Investment Management Company and Hermes Investment Management Limited  
5 Conformed copy of the Sub-Advisory Agreement of the Registrant dated December 1, 2018, including Exhibits A through C and Limited Power of Attorney dated December 1, 2018 as filed via EDGAR in Post-Effective Amendment No. 31 on June 1, 2020 on Form N-1A (File Nos. 333-218374 and 811-23259).  
  Sub-Advisory Agreement-Federated Global Investment Management Corp and Polaris Capital Management, LLC  
6 Conformed copy of the Sub-Advisory Agreement of the Registrant dated August 23, 2019, including Exhibit A and Limited Power of Attorney dated August 23, 2019 as filed via EDGAR in Post-Effective Amendment No. 31 on June 1, 2020 on Form N-1A (File Nos. 333-218374 and 811-23259).  

 

(e) Underwriting Contracts  
1 Conformed copy of the Distributor’s Contract of the Registrant dated May 16, 2017, including Exhibits A through DDD. +
2 Conformed copy of the Distributor’s Contract for Class B Shares of the Registrant dated October 24, 1997, including Amendments dated October 1, 2003 and June 1, 2001 as filed via EDGAR in Post-Effective Amendment No. 35 on October 27, 2020 on Form N-1A (File Nos 333-218374 and 811-23259).  

 

(f) Bonus or Profit Sharing Contracts  
  Not applicable  

 

(g) Custodian Agreements  
1 Conformed copy of the Amended and Restated Master Custodian Agreement dated June 7, 2005 by and between The Bank of New York Mellon and the Registrant, including Amendments 1 through 33, and Exhibits A and B revised June 1, 2021. +
2 Conformed copy of Amended and Restated Master Custodian Agreement dated March 1, 2017 by and between State Street Bank and Trust Company and the Registrant, including Appendix A, revised as of June 1, 2021 as filed via EDGAR in Post-Effective Amendment No. 42 on June 10, 2021 on Form N-1A (File Nos 333-218374 and 811-23259).  

 

(h) Other Material Contracts  
     
1 Services Agreement  
(a) Conformed copy of the Services Agreement between Federated Advisory Services Company and Federated MDTA LLC dated July 31, 2006, including Schedule 1 (revised February 1, 2021) as filed via EDGAR in Post-Effective Amendment No. 41 on April 8, 2021 on Form N-1A (File Nos. 333-218374 and 811-23259).  
(b) Conformed copy of the Services Agreement between Federated Advisory Services Company and Federated Global Investment Management Corp. dated January 1, 2004, including Schedule 1 (revised December 1, 2020) as filed in via EDGAR Post-Effective Amendment No. 37 on December 23, 2020 on Form N-1A (file Nos 81-23259 and 333-218374).  
(c) Conformed copy of the Services Agreement between Federated Advisory Services Company and Federated Investment Management Company dated January 1, 2004, including Schedule 1 (revised June 1, 2021). +
(d) Conformed copy of the Second Amended and Restated Services Agreement, amended and restated as of December 1, 2001, between Federated Shareholder Services Company and the Registrant, including Schedule 1 (revised June 1, 2021) +
(e) Conformed copy of the Principal Shareholder Servicer’s Agreement for Class B Shares of the Registrant dated October 24, 1997 as filed via EDGAR in Post-Effective Amendment No. 35 on October 27, 2020 on Form N-1A (File Nos 333-218374 and 811-23259).  
(f) Conformed copy of the Shareholder Services Agreement for Class B Shares of the Registrant dated October 24, 1997. as filed via EDGAR in Post-Effective Amendment No. 37 on December 23, 2020 on Form N-1A (file Nos 81-23259 and 333-218374).  
     
2 Transfer Agency Agreement  
  Conformed copy of the Transfer Agency and Service Agreement between the Federated Funds and State Street Bank and Trust Company dated January 31, 2017, including Exhibit A (revised March 2, 2021) and Schedules as filed via EDGAR in Post-Effective Amendment No. 42 on June 10, 2021 on Form N-1A (File Nos. 333-218374 and 811-23259)  
     
3 Administrative Services Agreement  
  Conformed copy of the Second Amended and Restated Agreement for Administrative Services between the Federated Funds and Federated Administrative Services dated September 1, 2017, including Exhibit A (revised March 1, 2021) and Exhibit B as filed via EDGAR in Post-Effective Amendment No. 41 on April 8, 2021 on Form N-1A (File Nos. 333-218374 and 811-23259).  
     
4 Financial Administration and Accounting Agreement  
(a) Conformed copy of the Financial Administration and Accounting Services Agreement between the Federated Funds and The Bank of New York Mellon dated March 1, 2011 as amended, including Schedule 1 (updated as of June 1, 2021) +
(b) Conformed copy of the Financial Administration and Accounting Services Agreement between the Federated Funds and State Street Bank and Trust Company dated March 1, 2011, as amended, including Exhibit A (updated as of March 1, 2021) as filed via EDGAR in Post-Effective Amendment No. 42 on June 10, 2021 on Form N-1A (File Nos. 333-218374 and 811-23259)  

 

(i) Legal Opinion  
1 Conformed copy of Opinion and Consent of Counsel as to legality of shares being registered for Federated MDT Large Cap Value Fund, as filed in Pre-Effective Amendment No. 1 on August 25, 2017 on Form N-1A (File Nos. 811-23259 and 333-218374).  
2 Conformed copy of Opinion and Consent of Counsel as to legality of shares being registered for Federated Hermes SDG Engagement Equity Fund, as filed in Post-Effective Amendment No. 5 on November 1, 2018 on Form N-1A (File Nos. 811-23259 and 333-218374).  
3 Conformed copy of Opinion and Consent of Counsel as to legality of shares being registered for Federated Hermes Global Equity Fund and Federated Hermes Global Small Cap Fund, as filed in Post-Effective Amendment No. 11 on March 15, 2019 on Form N-1A (File Nos. 811-23259 and 333-218374).  
4 Conformed copy of Opinion and Consent of Counsel as to legality of shares being registered for Federated Hermes Absolute Return Credit Fund and Federated Hermes Unconstrained Credit Fund, as filed in Post-Effective Amendment No. 12 on March 29, 2019 on Form N-1A (File Nos. 811-23259 and 333-218374).  
5 Conformed copy of Opinion and Consent of Counsel as to legality of shares being registered for Federated Hermes International Equity Fund, as filed in Post-Effective Amendment No. 17 on June 26, 2019 on Form N-1A (File Nos. 811-23259 and 333-218374).  
6 Conformed copy of Opinion and Consent of Counsel as to legality of shares being registered for Federated Emerging Markets Equity Fund, Federated International Equity Fund and Federated International Growth Fund, as filed in Post-Effective Amendment No. 20 on August 26, 2019 on Form N-1A (File Nos. 811-23259 and 333-218374).  
7 Conformed copy of Opinion and Consent of Counsel as to legality of shares being registered for Federated Hermes SDG Engagement High Yield Credit Fund, as filed in Post-Effective Amendment No. 22 on September 18, 2019 on Form N-1A (File Nos. 811-23259 and 333-218374).  
8 Conformed copy of Opinion and Consent of Counsel as to legality of shares being registered for Federated Hermes U.S. SMID Fund as filed via EDGAR in Post-Effective Amendment No. 31 on June 1, 2020 on Form N-1A (File Nos. 333-218374 and 811-23259).  
9 Conformed copy of Opinion and Consent of Counsel as to legality of shares being registered for Federated Hermes Conservative Municipal Microshort Fund and Federated Hermes Conservative Microshort as filed via EDGAR in Post-Effective Amendment No. 40 on January 29, 2021 on Form N-1A (File Nos 333-218374 and 811-23259).  
10 Form of Opinion and Consent of Counsel as to the legality of shares being registered for Federated Hermes MDT Market Neutral Fund as filed via EDGAR in Post-Effective Amendment No. 41 on April 8, 2020 on Form N-1A (File Nos. 333-218374 and 811-23259).  

 

(j) Other Opinions  
1 Conformed copy of Consent of Independent Registered Public Accounting Firm Ernst & Young LLP N/A
2 Conformed copy of Consent of Independent Registered Public Accounting Firm Deloitte & Touche LLP N/A
3 Conformed copies of Consents of Independent Registered Public Accounting Firm KPMG LLP N/A

 

(k) Omitted Financial Statements  
  Not Applicable  

 

(l) Initial Capital Agreements  
  Conformed copy of Initial Capital Understanding, as filed in Pre-Effective Amendment No. 1 on August 25, 2017 on Form N-1A (File Nos. 811-23259 and 333-218374).  

 

 
 

 

 

(m) Rule 12b-1 Plan  
1 Form of the Distribution Plan between certain classes of the Registrant and Federated Securities Corp., dated May 16, 2017, including Exhibit A through Exhibit BB as filed via EDGAR in Post-Effective Amendment No. 41 on April 8, 2021 on Form N-1A (File Nos. 333-218374 and 811-23259).  
2 Conformed copy of the Distribution Plan for Class B Shares of the Registrant dated October 24, 1997 as filed via EDGAR in Post-Effective Amendment No. 35 on October 27, 2020 on Form N-1A (File Nos 333-218374 and 811-23259).  

 

(n) Rule 18f-3 Plan  
  Conformed copy of the Multiple Class Plan and all share class Exhibits as adopted by certain Federated investment companies offering separate classes of shares +

 

(o) Powers of Attorney  
  Conformed copy of Power of Attorney of the Registrant dated November 1, 2020. as filed via EDGAR in Post-Effective Amendment No. 37 on December 23, 2020 on Form N-1A (file Nos 81-23259 and 333-218374).  

 

(p) Codes of Ethics  
1 Conformed copy of Federated Hermes, Inc. Code of Ethics for Access Persons, effective January 31, 2020 as filed via EDGAR in Post-Effective Amendment No. 31 on June 1, 2020 on Form N-1A (File Nos. 333-218374 and 811-23259).  
2 Copy of the Personal Account Dealing Policy for Hermes Investment Management as filed via EDGAR in Post-Effective Amendment No. 37 on December 23, 2020 on Form N-1A (file Nos 81-23259 and 333-218374).  
3 Copy of the Polaris Capital Management, LLC Code of Ethics effective January 2020 as filed via EDGAR in Post-Effective Amendment No. 33 on July 29, 2020 on Form N-1A (File Nos. 811-23259 and 333-218374).  

 

+ Exhibit is being filed electronically with registration statement  

 

 
 

 

 

Exhibit List for Inline Interactive Data File Submission. (to be filed by amendment)

Index No. Description of Exhibit
EX-101.INS XBRL Instance Document - Instance Document does not appear in the Interactive Data File because its XBRL tags are embedded within the inline XBRL document.
EX-101.SCH XBRL Taxonomy Extension Schema Document
EX-101.CAL XBRL Taxonomy Extension Calculation Linkbase
EX-101.DEF XBRL Taxonomy Extension Definition Linkbase
EX-101.LAB XBRL Taxonomy Extension Labels Linkbase
EX-101.PRE XBRL Taxonomy Extension Presentation Linkbase

 

Item 29.  Persons Controlled by or Under Common Control with the Fund:
No persons are controlled by the Fund.

 

Item 30.  Indemnification

Indemnification is provided to Officers and Trustees of the Registrant pursuant to the Registrant's Declaration of Trust, as amended. This includes indemnification against: (a) any liabilities or expenses incurred in connection with the defense or disposition of any action, suit or proceeding in which an Officer or Trustee may be or may have been involved; and (b) any liabilities and expenses incurred by an Officer or Trustee as a result of having provided personally identifiable information to a regulator or counterparty by or with whom the Registrant (or its series, as applicable) is regulated or engages in business to satisfy a legal or procedural requirement of such regulator or counterparty.

The Investment Advisory Contract, and Sub-advisory Agreement as applicable, (collectively, “Advisory Contracts”) between the Registrant and the investment adviser, and sub-adviser as applicable, (collectively, “Advisers”) of its series, provide that, in the absence of willful misfeasance, bad faith, gross negligence, or reckless disregard of the obligations or duties under the Advisory Contracts on the part of the Advisers, Advisers shall not be liable to the Registrant or to any shareholder for any act or omission in the course of or connected in any way with rendering services or for any losses that may be sustained in the purchase, holding, or sale of any security.

The Registrant’s distribution contract contains provisions limiting the liability, and providing for indemnification, of the Officers and Trustees under certain circumstances.

Registrant's Trustees and Officers are covered by an Investment Trust Errors and Omissions Policy.

Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to Trustees, Officers, and controlling persons of the Registrant by the Registrant pursuant to the Declaration of Trust, as amended, or otherwise, the Registrant is aware that in the opinion of the Securities and Exchange Commission, such indemnification is against public policy as expressed in the Act and, therefore, is unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by Trustees), Officers, or controlling persons of the Registrant in connection with the successful defense of any act, suit, or proceeding) is asserted by such Trustees, Officers, or controlling persons in connection with the shares being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issues.

Insofar as indemnification for liabilities may be permitted pursuant to Section 17 of the Investment Company Act of 1940 for Trustees, Officers, and controlling persons of the Registrant by the Registrant pursuant to the Declaration of Trust, as amended, or otherwise, the Registrant is aware of the position of the Securities and Exchange Commission as set forth in Investment Company Act Release No. IC-11330. Therefore, the Registrant undertakes that in addition to complying with the applicable provisions of the Declaration of Trust, as amended, or otherwise, in the absence of a final decision on the merits by a court or other body before which the proceeding was brought, that an indemnification payment will not be made unless in the absence of such a decision, a reasonable determination based upon factual review has been made (i) by a majority vote of a quorum of non-party Trustees who are not interested persons of the Registrant or (ii) by independent legal counsel in a written opinion that the indemnitee was not liable for an act of willful misfeasance, bad faith, gross negligence, or reckless disregard of duties. The Registrant further undertakes that advancement of expenses incurred in the defense of a proceeding (upon undertaking for repayment unless it is ultimately determined that indemnification is appropriate) against an Officer, Trustee or controlling person of the Registrant will not be made absent the fulfillment of at least one of the following conditions: (i) the indemnitee provides security for his undertaking; (ii) the Registrant is insured against losses arising by reason of any lawful advances; or (iii) a majority of a quorum of disinterested non-party Trustees or independent legal counsel in a written opinion makes a factual determination that there is reason to believe the indemnitee will be entitled to indemnification.

 

 

Item 31 Business and Other Connections of Investment Adviser:

Federated Global Investment Management Corp.

For a description of the other business of the Investment Adviser, see the section entitled “Who Manages the Fund?” in Part A. The affiliations with the Registrant of one of the Trustees and two of the Officers of the Investment Adviser are included in Part B of this Registration Statement under "Who Manages and Provides Services to the Fund?"  The remaining Trustees of the Investment Adviser and, in parentheses, their principal occupations are:  Thomas R. Donahue, (Chief Financial Officer, Federated Hermes, Inc.) and John B. Fisher, (Vice Chairman, Federated Hermes, Inc.) 1001 Liberty Avenue, Pittsburgh, PA, 15222-3779.  The business addresses of the Officers of the Investment Adviser are:  1001 Liberty Avenue, Pittsburgh, PA 15222-3779; 101 Park Avenue, 41st Floor, New York, NY  10178 and 400 Meridian Centre, Suite 200, Rochester, NY  14618.  Some of these individuals are also officers of a majority of the Investment Advisers to the investment companies in the Federated Hermes Fund Complex described in Part B of this Registration Statement.
The Officers of the Investment Adviser are:
Chairman: J. Christopher Donahue
President/ Chief Executive Officer: John B. Fisher
Executive Vice President:

Stephen F. Auth

Anne H. Kruczek

Senior Vice Presidents:

John S. Ettinger

Timothy Goodger

James Gordon

William P. Pribanic

Martin Christian Schulz

Hans Utsch

Richard A Winkowski, Jr.

Yu (Calvin) Zhang

Vice Presidents:

Steven Abrahamson

Jonathan Art

Thomas J. Banks

Mark S. Bauknight

Thomas M. Brakel

G. Andrew Bonnewell

Steven A. Chiavarone

Darius Czoch

Stephen DeNichilo

Fabrice Di Giusto

Steven Friedman

Qun Liu

Marc Halperin

Qun Liu

Barbara E. Miller

John F. Sherman

Anastacio U. Teodoro, IV

Vivian Wohl

 

Assistant Vice Presidents:

William Scott Camp

Charles Curran

Michael Czekaj

Keith Michaud

Robert Szeles

 

Secretary: G. Andrew Bonnewell
Assistant Secretaries:

Edward C. Bartley

George F. Magera

 

Treasurer: Thomas R. Donahue
Assistant Treasurers: Jeremy D. Boughton
Richard A. Novak
Chief Compliance Officer: Stephen Van Meter

 

Item 31 Business and Other Connections of Investment Adviser:

Federated Investment Management Company

For a description of the other business of the Investment Adviser, see the section entitled “Who Manages the Fund?” in Part A. The affiliations with the Registrant of two of the Trustees and two of the Officers of the Investment Adviser are included in Part B of this Registration Statement under "Who Manages and Provides Services to the Fund?"  The remaining Trustees of the Investment Adviser and, in parentheses, their principal occupations are:  Thomas R. Donahue, (Chief Financial Officer, Federated Hermes, Inc.), 1001 Liberty Avenue, Pittsburgh, PA, 15222-3779, John B. Fisher, (Vice Chairman, Federated Hermes, Inc.) 1001 Liberty Avenue, Pittsburgh, PA, 15222-3779 and James J. Gallagher, II, Partner, Morris James LLP, 500 Delaware Avenue, Suite 1500, Wilmington, DE  19801-1494.  The business address of each of the Officers of the Investment Adviser is 1001 Liberty Avenue, Pittsburgh, Pennsylvania 15222-3779.  These individuals are also officers of a majority of the Investment Advisers to the investment companies in the Federated Hermes Fund Complex described in Part B of this Registration Statement.
The Officers of the Investment Adviser are:
Chairman: J. Christopher Donahue
President/ Chief Executive Officer: John B. Fisher
Executive Vice Presidents:

Deborah A. Cunningham

Anne H. Kruczek

Robert J. Ostrowski

Timothy G. Trebilcock

Senior Vice Presidents:

Todd Abraham

J. Scott Albrecht

Randall S. Bauer

Jonathan C. Conley

Mark E. Durbiano

Donald T. Ellenberger

Eamonn G. Folan

Richard J. Gallo

John T. Gentry

Susan R. Hill

William R. Jamison

Jeffrey A. Kozemchak

Marian R. Marinack

Mary Jo Ochson

Jeffrey A. Petro

Ihab Salib

Michael W. Sirianni, Jr.

Steven J. Wagner

Paige Wilhelm

 

Vice Presidents:

Christopher S. Bodamer

G. Andrew Bonnewell

Hanan Callas

David B. Catalane, Jr.

Nicholas S. Cecchini

Leslie Ciferno

Jerome Conner

Lee R. Cunningham, II

Gregory Czamara, V

B. Anthony Delserone, Jr.

Jason DeVito

Bryan Dingle

William Ehling

Ann Ferentino

Kevin M. Fitzpatrick

Timothy P. Gannon

Kathryn P. Glass

James L. Grant

Patricia L. Heagy

Nathan H. Kehm

Allen J. Knizner

Tracey Lusk

Karen Manna

Daniel James Mastalski

Robert J. Matthews

Christopher McGinley

Keith E. Michaud

Karl Mocharko

Joseph M. Natoli

Gene Neavin

Bob Nolte

Liam O’Connell

Mary Kay Pavuk

John Polinski

Rae Ann Rice

Brian Ruffner

Thomas C. Scherr

John Sidawi

Kyle Stewart

Patrick J. Strollo, III

Mary Ellen Tesla

James Damen Thompson

Nicholas S. Tripodes

Anthony A. Venturino

Mark Weiss

George B. Wright

Christopher Wu

 

Assistant Vice Presidents:

John Badeer

Patrick Benacci

James Chelmu

Jordan Gregov

Brandon Ray Hochstetler

Jeff J. Ignelzi

Nick Navari

Bradley Payne

Braden Rotberg

John W. Scullion

Steven J. Slanika

Peter Snook

Tyler R. Stenger

Randal Stuckwish

Michael S. Wilson

 

Secretary: G. Andrew Bonnewell
Assistant Secretaries:

Edward C. Bartley

George F. Magera

 

Treasurer: Thomas R. Donahue
Assistant Treasurers: Jeremy D. Boughton
Richard A. Novak
Chief Compliance Officer: Stephen Van Meter

 

 

Item 31 Business and Other Connections of Investment Adviser:

Federated MDTA LLC

For a description of the other business of the Investment Adviser, see the section entitled “Who Manages the Fund?” in Part A. The affiliations with the Registrant of one of the Trustees and one of the Officers of the Investment Adviser are included in Part B of this Registration Statement under "Who Manages and Provides Services to the Fund?"  The remaining Trustees of the Investment Adviser and, in parentheses, their principal occupations are:  Thomas R. Donahue, (Chief Financial Officer, Federated Hermes, Inc.), 1001 Liberty Avenue, Pittsburgh, PA, 15222-3779, and John B. Fisher, (Vice Chairman, Federated Hermes, Inc.) 1001 Liberty Avenue, Pittsburgh, PA, 15222-3779.  The business address of Gordon Ceresino is 125 High Street, Oliver Tower, 21st Floor, Boston, MA 02110.  The business address of the remaining Officers of the Investment Adviser is 1001 Liberty Avenue, Pittsburgh, PA 15222-3779. These remaining officers are also officers of a majority of the Investment Advisers to the investment companies in the Federated Hermes Fund Complex described in Part B of this Registration Statement.
The Officers of the Investment Adviser are:
Chairman: J. Christopher Donahue
Vice Chairman: Gordon Ceresino
President/ Chief Executive Officer: John B. Fisher
Executive Vice President: Anne H. Kruczek
Senior Vice President:

Edward Foss

Daniel J. Mahr

William Pribanic

 

Vice Presidents:

Thomas T. Beals

John C. Duane

Frederick L. Konopka

John Paul Lewicke

Keith E. Michaud

Tony Ng

Kelly Patel

John F. Sherman

Sarah A. Stahl

Gregory Sterzel

Shuo Damien Zhang

 

Assistant Vice Presidents:

Michael G. Bertani

Kevin R. Walker

 

Secretary: George F. Magera
Assistant Secretary:

Edward C. Bartley

 

Treasurer: Richard A. Novak
Assistant Treasurer: Jeremy D. Boughton
Chief Compliance Officer: Stephen Van Meter

 

 
 

 

 

Item 32  Principal Underwriters:
(a) Federated Securities Corp., the Distributor for shares of the Registrant, acts as principal underwriter for the following investment companies, including the Registrant:
  Federated Hermes Adjustable Rate Securities Trust
  Federated Hermes Adviser Series
  Federated Hermes Core Trust
  Federated Hermes Core Trust III
  Federated Hermes Equity Funds
  Federated Hermes Equity Income Fund, Inc.
  Federated Hermes Fixed Income Securities, Inc.
  Federated Hermes Global Allocation Fund
  Federated Hermes Government Income Securities, Inc.
  Federated Hermes Government Income Trust
  Federated Hermes High Income Bond Fund, Inc.
  Federated Hermes High Yield Trust
  Federated Hermes Income Securities Trust
  Federated Hermes Index Trust
  Federated Hermes Institutional Trust
  Federated Hermes Insurance Series
  Federated Hermes Intermediate Municipal Trust
  Federated Hermes International Series, Inc.
  Federated Hermes Investment Series Funds, Inc.
  Federated Hermes Managed Pool Series
  Federated Hermes MDT Series
  Federated Hermes Money Market Obligations Trust
  Federated Hermes Municipal Bond Fund, Inc.
  Federated Hermes Municipal Securities Income Trust
  Federated Hermes Premier Municipal Income Fund
  Federated Hermes Project and Trade Finance Tender Fund
  Federated Hermes Short-Intermediate Duration Municipal Trust
  Federated Hermes Short-Intermediate Government Trust
  Federated Hermes Short-Term Government Trust
  Federated Hermes Total Return Government Bond Fund
  Federated Hermes Total Return Series, Inc.
  Federated Hermes World Investment Series, Inc.

 

(b)    

(1)

Positions and Offices with Distributor

(2)

Name

 

(3)

Positions and Offices With Registrant

Executive Vice President, Assistant Secretary and Director: Thomas R. Donahue  
President and Director: Paul Uhlman  
Vice President and Director: Peter J. Germain  
Director: Frank C. Senchak  

 

 
 

 

(1)

Positions and Offices with Distributor

(2)

Name

 

(3)

Positions and Offices With Registrant

Executive Vice Presidents:

Michael Bappert

Peter W. Eisenbrandt

Anne H. Kruczek

Solon A. Person, IV

  
Senior Vice Presidents:

Irving Anderson

Daniel G. Berry

Jack Bohnet

Edwin J. Brooks, III

Bryan Burke

Scott J. Charlton

Steven R. Cohen

James S. Conley

Stephen R. Cronin

Charles L. Davis, Jr.

Michael T. DiMarsico

Jack C. Ebenreiter

James Getz, Jr.

Scott A. Gunderson

Dayna C. Haferkamp

Vincent L. Harper, Jr.

Bruce E. Hastings

Jeffrey S. Jones

Ryan W. Jones

Scott D. Kavanagh

Michael Koenig

Edwin C. Koontz

Jane E. Lambesis

Jerry Landrum

Hans W. Lange, Jr.

Michael Liss

Diane Marzula

Amy Michaliszyn

Richard C. Mihm

Vincent T. Morrow

John C. Mosko

Alec H. Neilly

Keith Nixon

James E. Ostrowski

Stephen Otto

Richard P. Paulson

Richard A. Recker

Diane M. Robinson

Brian S. Ronayne

Timothy A. Rosewicz

Eduardo G. Sanchez

Tom Schinabeck

Edward L. Smith

John A. Staley

Mark J. Strubel

William C. Tustin

Michael N. Vahl

G. Walter Whalen

Lewis C. Williams

Michael Wolff

Daniel R. Wroble

Erik Zettlemayer

Paul Zuber

  
Vice Presidents:

Frank Amato

Catherine M. Applegate

Kenneth C. Baber

Raisa E. Barkaloff

Robert W. Bauman

Marc Benacci

Christopher D. Berg

Bill Boarts

Zachary Bono

Matthew A. Boyle

Edward R. Bozek

Thomas R. Brown

Mark Carroll

Dan Casey

Stephen J. Costlow

Mary Ellen Coyne

David G. Dankmyer

Christopher T. Davis

Charles R. Ebbs

Donald Edwards

Mark A. Flisek

Stephen Francis

Heather W. Froelich

David D. Gregoire

Raymond J. Hanley

George M. Hnaras

Scott A. Holick

Christopher Jackson

Todd Jones

Patrick Kelly

Nicholas R. Kemerer

Robert H. Kern

Shawn E. Knutson

Crystal C. Kwok

David M. Larrick

Justin Levy

John P. Liekar

Jonathan Lipinski

Paul J. Magan

Alexi A. Maravel

Meghan McAndrew

Martin J. McCaffrey

Samuel McGowan

Daniel McGrath

Brian McInis

Harry Mills

Mark J. Murphy

Ryan M. Newman

Catherine M. Nied

Ted Noethling

John A. O’Neill

Mark Patsy

Marcus Persichetti

Max E. Recker

Emory Redd

Matt Ryan

  
 

John Shrewsbury

Peter Siconolfi

Bradley Smith

John R. Stanley

Jonathan Sullivan

Gregory Tzanoukakis

David Wasik

Brian R. Willer

Littell L. Wilson

James J. Wojciak

  
Assistant Vice Presidents:

Debbie Adams-Marshall

Edward R. Costello

Adina A. Davis

Madison Dischinger

Kristen C. Kiesling

Anthony W. Lennon

Stephen R. Massey

Carol McEvoy McCool

John K. Murray

Melissa R. Ryan

Carol Anne Sheppard

Scott A. Vallina

Laura Vickerman

  
Secretary: Kary A. Moore  
Assistant Secretaries: Edward C. Bartley  
  Thomas R. Donahue  
  George F. Magera  
Treasurer: Richard A. Novak  
Assistant Treasurer: Jeremy D. Boughton  
Chief Compliance Officer: Stephen Van Meter  

 

(c) Not Applicable

 

 

 
 

 

 

Item 33.  Location of Accounts and Records:
All accounts and records required to be maintained by Section 31(a) of the Investment Company Act of 1940 and Rules 31a-1 through 31a-3 promulgated thereunder are maintained at one of the following locations:

 

Registrant

Federated Hermes Funds

4000 Ericsson Drive

Warrendale, PA 15086-7561

(Notices should be sent to the Agent for Service at the address listed on the facing page of this filing.)

Federated Administrative Services

(Administrator)

1001 Liberty Avenue

Pittsburgh, PA 15222-3779

Federated Global Investment Management Corporation

(Adviser to Federated Hermes Global Equity Fund, Federated Global Small Cap Fund, Federated Hermes International Equity Fund and Federated Hermes SDG Engagement Equity Fund, Federated Emerging Markets Equity Fund, Federated International Equity Fund, Federated International Growth Fund, Federated Hermes U.S. SMID Fund)

101 Park Avenue

41st Floor

New York, NY 10178

Federated Investment Management Company

(Adviser to Federated Hermes Absolute Return Credit Fund, Federated Hermes Unconstrained Credit Fund, Federated Hermes SDG High Yield Credit Fund, Federated Hermes Conservative Microshort Fund, Federated Hermes Conservative Municipal Microshort Fund)

1001 Liberty Avenue

Pittsburgh, PA 15222-3779

Federated MDTA LLC

(Adviser to Federated MDT Large Cap Value Fund and Federated Hermes MDT Market Neutral Fund)

125 High Street

Oliver Street Tower, 21st Floor

Boston, MA 02110

Hermes Investment Management Limited

(Sub-Adviser to Federated Hermes Absolute Return Credit Fund, Federated Hermes Global Equity Fund, Federated Hermes Global Small Cap Fund, Federated Hermes International Equity Fund, Federated Hermes SDG Engagement Equity Fund, Federated Hermes Unconstrained Credit Fund, Federated Hermes SDG High Yield Credit Fund)

Sixth Floor

150 Cheapside

London EC2V 6ET

England

Polaris Capital Management LLC

(Sub-Adviser to Federated International Equity Fund)

121 High Street

Boston, MA 02110

State Street Bank and Trust Company

(Transfer Agent and Dividend Disbursing Agent)

P.O. Box 219318

Kansas City, MO 64121-9318

State Street Bank and Trust Company

(Custodian)

1 Iron Street

Boston, MA 02110

Bank of New York Mellon
(Custodian)

The Bank of New York Mellon

One Wall Street

New York, NY 10286

 

Item 34.  Management Services:  Not applicable.  
   
Item 35.  Undertakings:
Registrant hereby undertakes to comply with the provisions of Section 16(c) of the 1940 Act with respect to the removal of Trustees and the calling of special shareholder meetings by shareholders.

 

 
 

 

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, and the Investment Company Act of 1940, the Registrant, Federated Hermes Adviser Series has duly caused this Amendment to its Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of Pittsburgh and Commonwealth of Pennsylvania, on the 23rd day of June, 2021.

FEDERATED HERMES ADVISER SERIES

BY: /s/ George F. Magera

George F. Magera, Assistant Secretary

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed below by the following person in the capacity and on the date indicated:

 

NAME TITLE DATE

BY: /s/ George F. Magera

George F. Magera,
Assistant Secretary

 Attorney In Fact For the Persons Listed Below June 23, 2021
J. Christopher Donahue* President and Trustee (Principal Executive Officer)  
John B. Fisher* Trustee  
Lori A. Hensler* Treasurer (Principal Financial Officer/Principal Accounting Officer)  
John T. Collins* Trustee  
G. Thomas Hough* Trustee  
Maureen E. Lally-Green* Trustee  
Thomas O’Neill* Trustee  
Madelyn A. Reilly* Trustee  
P. Jerome Richey* Trustee  
John S. Walsh* Trustee  
*By Power of Attorney    

 

 

Exhibit 28 (d)(1) under Form N-1A

Exhibit 10 under item 601/Reg. S-K

 

6/29/20 – Name changed to Federated Hermes Adviser Series.

8/15/18 – Federated MDT Equity Trust name changed to Federated Adviser Series

 

 

FEDERATED MDT EQUITY TRUST

INVESTMENT ADVISORY CONTRACT

 

 

This Contract is made this 1st day of June, 2017, between Federated MDTA, LLC, a Delaware limited liability company having its principal place of business in Boston, Massachusetts (the "Adviser"), and Federated MDT Equity Trust, a Delaware statutory trust, having its principal place of business in Warrendale, Pennsylvania (the “Trust”).

 

WHEREAS the Trust is an open-end management investment company as that term is defined in the Investment Company Act of 1940, as amended (the “Act”), and is registered as such with the Securities and Exchange Commission; and

 

WHEREAS Adviser is engaged in the business of rendering investment advisory and management services.

 

NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby agree as follows:

 

1.       The Trust hereby appoints Adviser as investment adviser for each of the portfolios (“Funds”) of the Trust which executes an exhibit to this Contract, and Adviser accepts the appointment. Subject to the direction of the Trustees, Adviser shall provide investment research and supervision of the investments of the Funds and conduct a continuous program of investment evaluation and of appropriate sale or other disposition and reinvestment of each Fund’s assets.

 

2.       Adviser, in its supervision of the investments of each of the Funds will be guided by each of the Fund's investment objective and policies and the provisions and restrictions contained in the Declaration of Trust and By-Laws of the Trust and as set forth in the Registration Statement and exhibits as may be on file with the Securities and Exchange Commission.

 

3.       Each Fund shall pay or cause to be paid all of its own expenses and its allocable share of Trust expenses, including, without limitation, the expenses of organizing the Trust and continuing its existence; fees and expenses of Trustees and officers of the Trust; fees for investment advisory services and administrative personnel and services; expenses incurred in the distribution of its shares ("Shares"), including expenses of administrative support services; fees and expenses of preparing and printing its Registration Statements under the Securities Act of 1933 and the Act, and any amendments thereto; expenses of registering and qualifying the Trust, the Funds, and the Shares of the Funds under federal and state laws and regulations; expenses of preparing, printing, and distributing prospectuses (and any amendments thereto) to shareholders; interest expense, taxes, fees, and commissions of every kind; expenses of issue (including cost of Share certificates), purchase, repurchase, and redemption of Shares, including expenses attributable to a program of periodic issue; charges and expenses of custodians, transfer agents, dividend disbursing agents, shareholder servicing agents, and registrars; printing and mailing costs, auditing, accounting, and legal expenses; reports to shareholders and governmental officers and commissions; expenses of meetings of Trustees and shareholders and proxy solicitations therefor; insurance expenses; association membership dues and such nonrecurring items as may arise, including all losses and liabilities incurred in administering the Trust and the Funds. Each Fund will also pay extraordinary expenses as may arise including expenses incurred in connection with litigation, proceedings, and claims and the legal obligations of the Trust to indemnify its officers and Trustees and agents with respect thereto.

 

4.       Each of the Funds shall pay to Adviser, for all services rendered to each Fund by Adviser hereunder, the fees set forth in the exhibits attached hereto.

 

5.       The net asset value of each Fund's Shares as used herein will be calculated to the nearest 1/10th of one cent.

 

6.       The Adviser may from time to time and for such periods as it deems appropriate reduce its compensation (and, if appropriate, assume expenses for one or more of the Funds) to the extent that any of the Funds’ expenses exceed such lower expense limitation as the Adviser may, by notice to the Fund, voluntarily declare to be effective.

 

7.       This Contract shall begin for each Fund as of the date of execution of the applicable exhibit and shall continue in effect with respect to each Fund presently set forth on an exhibit (and any subsequent Funds added pursuant to an exhibit during the initial term of this Contract) for two years from the date of this Contract set forth above and thereafter for successive periods of one year, subject to the provisions for termination and all of the other terms and conditions hereof if: (a) such continuation shall be specifically approved at least annually by the vote of a majority of the Trustees of the Fund, including a majority of the Trustees who are not parties to this Contract or interested persons of any such party cast in person at a meeting called for that purpose; and (b) Adviser shall not have notified a Fund in writing at least sixty (60) days prior to the anniversary date of this Contract in any year thereafter that it does not desire such continuation with respect to the Fund.

 

8.       Notwithstanding any provision in this Contract, it may be terminated at any time with respect to any Fund, without the payment of any penalty, by the Trustees of the Trust or by a vote of the shareholders of that Fund on sixty (60) days' written notice to Adviser.

 

9.       This Contract may not be assigned by Adviser and shall automatically terminate in the event of any assignment. Adviser may employ or contract with such other person, persons, corporation, or corporations at its own cost and expense as it shall determine in order to assist it in carrying out this Contract.

 

10.       In the absence of willful misfeasance, bad faith, gross negligence, or reckless disregard of the obligations or duties under this Contract on the part of Adviser, Adviser shall not be liable to the Trust or to any of the Funds or to any shareholder for any act or omission in the course of or connected in any way with rendering services or for any losses that may be sustained in the purchase, holding, or sale of any security.

 

11.       This Contract may be amended at any time by agreement of the parties provided that the amendment shall be approved both by the vote of a majority of the Trustees of the Trust including a majority of the Trustees who are not parties to this Contract or interested persons of any such party to this Contract (other than as Trustees) cast in person at a meeting called for that purpose, and, where required by Section 15(a)(2) of the Act, on behalf of a Fund by a majority of the outstanding voting securities of the Fund as defined in Section 2(a)(42) of the Act.

 

12.       The Adviser acknowledges that all sales literature for investment companies (such as the Fund) are subject to strict regulatory oversight. The Adviser agrees to submit any proposed sales literature for the Trust (or any Fund) or for itself or its affiliates which mentions the Trust (or any Fund) to the Trust’s distributor for review and filing with the appropriate regulatory authorities prior to the public release of any such sales literature, provided, however, that nothing herein shall be construed so as to create any obligation or duty on the part of the Adviser to produce sales literature for the Trust (or any Fund). The Trust agrees to cause its distributor to promptly review all such sales literature to ensure compliance with relevant requirements, to promptly advise Adviser of any deficiencies contained in such sales literature, to promptly file complying sales literature with the relevant authorities, and to cause such sales literature to be distributed to prospective investors in the Fund.

 

13.       Adviser is hereby expressly put on notice of the limitation of liability as set forth in Article VIII, Section 8.1 of the Declaration of Trust and agrees that the obligations pursuant to this Contract of a particular Fund and of the Trust with respect to that particular Fund be limited solely to the assets of that particular Fund, and Adviser shall not seek satisfaction of any such obligation from the shareholders of any other Fund, the Trustees, officers, employees or agents of the Trust, or any of them.

 

14.       The Trust and the Funds are hereby expressly put on notice of the limitation of liability as set forth in the Articles of Incorporation of the Adviser and agree that the obligations assumed by the Adviser pursuant to this Contract shall be limited in any case to the Adviser and its assets and, except to the extent expressly permitted by the Act, the Funds shall not seek satisfaction of any such obligation from the shareholders of the Adviser, the Directors, officers, employees, or agents of the Adviser, or any of them.

 

15.       Adviser agrees to maintain the security and confidentiality of nonpublic personal information (“NPI”) of Fund customers and consumers, as those terms are defined in Regulation S-P, 17 CFR Part 248. Adviser agrees to use and redisclose such NPI for the limited purposes of processing and servicing transactions; for specific law enforcement and miscellaneous purposes; and to service providers or in connection with joint marketing arrangements directed by the Fund(s), in each instance in furtherance of fulfilling Adviser’s obligations under this Contract and consistent with the exceptions provided in 17 CFR Sections 248.14, 248.15 and 248.13, respectively.

 

16.       The parties hereto acknowledge that Federated Investors, Inc., has reserved the right to grant the non-exclusive use of the names “Federated, “Federated MDT Large Cap Value Fund” or any derivative thereof to any other investment company, investment company portfolio, investment adviser, distributor or other business enterprise, and to withdraw from the Fund the use of the names “Federated,” “Federated MDT Large Cap Value Fund” or any derivative thereof. The names “Federated” and “Federated MDT Large Cap Value Fund” will continue to be used by the Trust and each Fund so long as such use is mutually agreeable to Federated Investors, Inc. and the Trust.

 

17.       This Contract shall be construed in accordance with and governed by the laws of the Commonwealth of Pennsylvania.

 

18.       This Contract will become binding on the parties hereto upon their execution of the attached exhibits to this Contract.

 

 
 

 

6/29/20 – Name changed to Federated Hermes MDT Large Cap Value Fund.

 

EXHIBIT A

to the

Investment Advisory Contract

 

Federated MDT Large Cap Value Fund

 

For all services rendered by Adviser hereunder, Federated MDT Large Cap Value Fund shall pay to Adviser and Adviser agrees to accept as full compensation for all services rendered hereunder, an annual investment advisory fee at an annual rate ranging from 0.75 of 1% on the first $500 million of average daily net assets of the Fund to 0.40 of 1% on average daily net assets in excess of $2 billion as specified below.

 

Average Daily Net Assets Advisory Fee
First $500 million 0.750%
Second $500 million 0.675%
Third $500 million 0.600%
Fourth $500 million 0.525%
Over $2 billion 0.400%

 

The portion of the fee based upon the average daily net assets of the Fund shall be accrued daily at the rate of 1/365th of the investment advisory fee as set forth in the schedule above applied to the daily net assets of the Fund. The advisory fee so accrued shall be paid to Adviser daily.

 

Witness the due execution hereof this 1st day of June, 2017.

 

 

 

Federated MDT Equity Trust

 

 

 

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

Federated MDTA, LLC

 

 

By: /s/ John B. Fisher

Name: John B. Fisher

Title: President

 

 

 

 
 

 

EXHIBIT B

to the

Investment Advisory Contract

 

FEDERATED HERMES MDT MARKET NEUTRAL FUND

 

For all services rendered by Adviser hereunder, Federated Hermes MDT Market Neutral Fund shall pay to Adviser and Adviser agrees to accept as full compensation for all services rendered hereunder, an annual investment advisory fee equal to 0.80% of the average daily net assets of the Fund.

  

The portion of the fee based upon the average daily net assets of the Fund shall be accrued daily at the rate of 1/365th of 0.80 of 1% applied to the daily net assets of the Fund. The advisory fee so accrued shall be paid to Adviser daily.

 

 

Witness the due execution hereof this 26th day of January, 2021.

 

 

 

Federated Hermes MDT Market Neutral Fund

 

 

 

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

Federated MDTA LLC

 

 

By: /s/ John B. Fisher

Name: John B. Fisher

Title: President

 

 

 

 

 

 

 

 

 

 

 

LIMITED POWER OF ATTORNEY

 

 

KNOW ALL MEN BY THESE PRESENTS, dated as of June 1, 2017, that Federated MDT Equity Trust, a statutory trust duly organized under the laws of the state of Delaware (the “Trust”), does hereby nominate, constitute and appoint Federated MDTA, LLC, a limited liability company duly organized under the laws of the Delaware (the "Adviser"), to act hereunder as the true and lawful agent and attorney-in-fact of the Trust, for the specific purpose of executing and delivering all such agreements, instruments, contracts, assignments, bond powers, stock powers, transfer instructions, receipts, waivers, consents and other documents, and performing all such acts, as the Adviser may deem necessary or reasonably desirable, related to the acquisition, disposition and/or reinvestment of the funds and assets of the Trust and each portfolio thereof in accordance with Adviser's supervision of the investment, sale and reinvestment of the funds and assets of the Trust and each portfolio thereof pursuant to the authority granted to the Adviser as investment adviser of the Trust under that certain investment advisory contract dated June 1, 2017 by and between the Adviser and the Fund (such investment advisory contract, as may be amended, supplemented or otherwise modified from time to time is hereinafter referred to as the "Investment Advisory Contract").

 

The Adviser shall exercise or omit to exercise the powers and authorities granted herein in each case as the Adviser in its sole and absolute discretion deems desirable or appropriate under existing circumstances. The Trust hereby ratifies and confirms as good and effectual, at law or in equity, all that the Adviser, and its officers and employees, may do by virtue hereof. However, despite the above provisions, nothing herein shall be construed as imposing a duty on the Adviser to act or assume responsibility for any matters referred to above or other matters even though the Adviser may have power or authority hereunder to do so. Nothing in this Limited Power of Attorney shall be construed (i) to be an amendment or modifications of, or supplement to, the Investment Advisory Contract, (ii) to amend, modify, limit or denigrate any duties, obligations or liabilities of the Adviser under the terms of the Investment Advisory Contract or (iii) exonerate, relieve or release the Adviser any losses, obligations, penalties, actions, judgments and suits and other costs, expenses and disbursements of any kind or nature whatsoever which may be imposed on, incurred by or asserted against the Adviser (x) under the terms of the Investment Advisory Contract or (y) at law, or in equity, for the performance of its duties as the investment adviser of the Fund.

 

The Trust hereby agrees to indemnify and save harmless the Adviser and its trustees, officers and employees (each of the foregoing an "Indemnified Party" and collectively the "Indemnified Parties") against and from any and all losses, obligations, penalties, actions, judgments and suits and other costs, expenses and disbursements of any kind or nature whatsoever which may be imposed on, incurred by or asserted against an Indemnified Party, other than as a consequence of gross negligence or willful misconduct on the part of an Indemnified Party, arising out of or in connection with this Limited Power of Attorney or any other agreement, instrument or document executed in connection with the exercise of the authority granted to the Adviser herein to act on behalf of the Trust and each portfolio thereof, including without limitation the reasonable costs, expenses and disbursements in connection with defending such Indemnified Party against any claim or liability related to the exercise or performance of any of the Adviser's powers or duties under this Limited Power of Attorney or any of the other agreements, instruments or documents executed in connection with the exercise of the authority granted to the Adviser herein to act on behalf of the Trust and each portfolio thereof, or the taking of any action under or in connection with any of the foregoing. The obligations of the Trust under this paragraph shall survive the termination of this Limited Power of Attorney with respect to actions taken by the Adviser on behalf of the Trust and each portfolio thereof during the term of this Limited Power of Attorney.

 

Any person, partnership, corporation or other legal entity dealing with the Adviser in its capacity as attorney-in-fact hereunder for the Trust is hereby expressly put on notice that the Adviser is acting solely in the capacity as an agent of the Trust and that any such person, partnership, corporation or other legal entity must look solely to the Trust for enforcement of any claim against the Trust, as the Adviser assumes no personal liability whatsoever for obligations of the Trust entered into by the Adviser in its capacity as attorney-in-fact for the Trust.

 

Each person, partnership, corporation or other legal entity which deals with the Trust through the Adviser in its capacity as agent and attorney-in-fact of the Trust is hereby expressly put on notice that all persons or entities dealing with the Trust must look solely to the assets of the Trust and/or the specific portfolio on whose behalf the Adviser is acting pursuant to its powers hereunder for enforcement of any claim against the Trust, as the Trustees, officers and/or agents of the Trust, the shareholders of the Trust assume no personal liability whatsoever for obligations entered into on behalf of the Trust.

 

Liability for or recourse under or upon any undertaking of the Adviser pursuant to the power or authority granted to the Adviser under this Limited Power of Attorney under any rule of law, statute or constitution or by the enforcement of any assessment or penalty or by legal or equitable proceedings or otherwise shall be limited only to the assets of the Fund on whose behalf the Adviser was acting pursuant to the authority granted hereunder.

 

The Trust hereby agrees that no person, partnership, corporation or other legal entity dealing with the Adviser shall be bound to inquire into the Adviser's power and authority hereunder and any such person, partnership, corporation or other legal entity shall be fully protected in relying on such power or authority unless such person, partnership, corporation or other legal entity has received prior written notice from the Trust that this Limited Power of Attorney has been revoked. This Limited Power of Attorney shall be revoked and terminated automatically upon the cancellation or termination of the Investment Advisory Contract between the Trust and the Adviser. Except as provided in the immediately preceding sentence, the powers and authorities herein granted may be revoked or terminated by the Trust at any time provided that no such revocation or termination shall be effective until the Adviser has received actual notice of such revocation or termination in writing from the Trust.

 

This Limited Power of Attorney constitutes the entire agreement between the Trust and the Adviser, may be changed only by a writing signed by both of them, and shall bind and benefit their respective successors and assigns; provided, however, the Adviser shall have no power or authority hereunder to appoint a successor or substitute attorney in fact for the Trust.

 

This Limited Power of Attorney shall be governed and construed in accordance with the laws of the Commonwealth of Pennsylvania without reference to principles of conflicts of laws. If any provision hereof, or any power or authority conferred upon the Adviser herein, would be invalid or unexercisable under applicable law, then such provision, power or authority shall be deemed modified to the extent necessary to render it valid or exercisable while most nearly preserving its original intent, and no provision hereof, or power or authority conferred upon the Adviser herein, shall be affected by the invalidity or the non-exercisability of another provision hereof, or of another power or authority conferred herein.

 

This Limited Power of Attorney may be executed in as many identical counterparts as may be convenient and by the different parties hereto on separate counterparts. This Limited Power of Attorney shall become binding on the Trust when the Trust shall have executed at least one counterpart and the Adviser shall have accepted its appointment by executing this Limited Power of Attorney. Immediately after the execution of a counterpart original of this Limited Power of Attorney and solely for the convenience of the parties hereto, the Trust and the Adviser will execute sufficient counterparts so that the Adviser shall have a counterpart executed by it and the Trust, and the Trust shall have a counterpart executed by the Trust and the Adviser. Each counterpart shall be deemed an original and all such taken together shall constitute but one and the same instrument, and it shall not be necessary in making proof of this Limited Power of Attorney to produce or account for more than one such counterpart.

 

IN WITNESS WHEREOF, the Trust has caused this Limited Power of Attorney to be executed by its duly authorized officer as of the date first written above.

 

Federated MDT Equity Trust

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

 

 

Accepted and agreed to this
June 1, 2017

 

Federated MDTA, LLC

 

By: /s/ John B. Fisher

Name: John B. Fisher

Title: President

 

 

Exhibit 28 (e)(1) under Form N-1A

Exhibit 1 under item 601/Reg. S-K

 

 

6/29/20 – Name changed to Federated Hermes Adviser Series.

8/15/18 – Federated MDT Equity Trust name changed to Federated Adviser Series

 

Federated MDT Equity Trust

 

DISTRIBUTOR'S CONTRACT

 

AGREEMENT made this 16th day of May, 2017, by and between Federated MDT Equity Trust (the “Trust”), a Delaware statutory trust, and FEDERATED SECURITIES CORP. (“FSC”), a Pennsylvania Corporation.

In consideration of the mutual covenants hereinafter contained, it is hereby agreed by and between the parties hereto as follows:

1.       The Trust hereby appoints FSC as its agent to sell and distribute shares of the Trust which may be offered in one or more series (the "Funds") consisting of one or more classes (the "Classes") of shares (the "Shares"), as described and set forth on one or more exhibits to this Agreement, at the current offering price thereof as described and set forth in the current Prospectuses of the Trust. FSC hereby accepts such appointment and agrees to provide such other services for the Trust, if any, and accept such compensation from the Trust, if any, as set forth in the applicable exhibits to this Agreement.

2.       The sale of any Shares may be suspended without prior notice whenever in the judgment of the Trust it is in its best interest to do so.

3.       Neither FSC nor any other person is authorized by the Trust to give any information or to make any representation relative to any Shares other than those contained in the Registration Statement, Prospectuses, or Statements of Additional Information ("SAIs") filed with the Securities and Exchange Commission, as the same may be amended from time to time, or in any supplemental information to said Prospectuses or SAIs approved by the Trust. FSC agrees that any other information or representations other than those specified above which it or any dealer or other person who purchases Shares through FSC may make in connection with the offer or sale of Shares, shall be made entirely without liability on the part of the Trust. No person or dealer, other than FSC, is authorized to act as agent for the Trust for any purpose. FSC agrees that in offering or selling Shares as agent of the Trust, it will, in all respects, duly conform to all applicable state and federal laws and the rules and regulations of the National Association of Securities Dealers, Inc., including its Rules of Fair Practice. FSC will submit to the Trust copies of all sales literature before using the same and will not use such sales literature if disapproved by the Trust.

4.       This Agreement is effective with respect to each Class as of the date of execution of the applicable exhibit and shall continue in effect with respect to each Class presently set forth on an exhibit and any subsequent Classes added pursuant to an exhibit during the initial term of this Agreement for one year from the date set forth above, and thereafter for successive periods of one year if such continuance is approved at least annually by the Trustees of the Trust including a majority of the members of the Board of Trustees of the Trust who are not interested persons of the Trust and have no direct or indirect financial interest in the operation of any Distribution Plan relating to the Trust or in any related documents to such Plan ("Disinterested Trustees") cast in person at a meeting called for that purpose. If a Class is added after the first annual approval by the Trustees as described above, this Agreement will be effective as to that Class upon execution of the applicable exhibit and will continue in effect until the next annual approval of this Agreement by the Trustees and thereafter for successive periods of one year, subject to approval as described above.

5.       This Agreement may be terminated with regard to a particular Fund or Class at any time, without the payment of any penalty, by the vote of a majority of the DisinterestedTrustees or by a majority of the outstanding voting securities of the particular Fund or Class on not more than sixty (60) days' written notice to any other party to this Agreement. This Agreement may be terminated with regard to a particular Fund or Class by FSC on sixty (60) days' written notice to the Trust.

6.       This Agreement may not be assigned by FSC and shall automatically terminate in the event of an assignment by FSC as defined in the Investment Company Act of 1940, as amended, provided, however, that FSC may employ such other person, persons, corporation or corporations as it shall determine in order to assist it in carrying out its duties under this Agreement.

7.       FSC shall not be liable to the Trust for anything done or omitted by it, except acts or omissions involving willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties imposed by this Agreement.

8.       This Agreement may be amended at any time by mutual agreement in writing of all the parties hereto, provided that such amendment is approved by the Trustees of the Trust including a majority of the Disinterested Trustees of the Trust cast in person at a meeting called for that purpose.

9.       This Agreement shall be construed in accordance with and governed by the laws of the Commonwealth of Pennsylvania.

10. (a) Subject to the conditions set forth below, the Trust agrees to indemnify and hold harmless FSC and each person, if any, who controls FSC within the meaning of Section 15 of the Securities Act of 1933 and Section 20 of the Securities Act of 1934, as amended, against any and all loss, liability, claim, damage and expense whatsoever (including but not limited to any and all expenses whatsoever reasonably incurred in investigating, preparing or defending against any litigation, commenced or threatened, or any claim whatsoever) arising out of or based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement, any Prospectuses or SAIs (as from time to time amended and supplemented) or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements therein not misleading, unless such statement or omission was made in reliance upon and in conformity with written information furnished to the Trust about FSC by or on behalf of FSC expressly for use in the Registration Statement, any Prospectuses and SAIs or any amendment or supplement thereof.

If any action is brought against FSC or any controlling person thereof with respect to which indemnity may be sought against the Trust pursuant to the foregoing paragraph, FSC shall promptly notify the Trust in writing of the institution of such action and the Trust shall assume the defense of such action, including the employment of counsel selected by the Trust and payment of expenses. FSC or any such controlling person thereof shall have the right to employ separate counsel in any such case, but the fees and expenses of such counsel shall be at the expense of FSC or such controlling person unless the employment of such counsel shall have been authorized in writing by the Trust in connection with the defense of such action or the Trust shall not have employed counsel to have charge of the defense of such action, in any of which events such fees and expenses shall be borne by the Trust. Anything in this paragraph to the contrary notwithstanding, the Trust shall not be liable for any settlement of any such claim of action effected without its written consent. The Trust agrees promptly to notify FSC of the commencement of any litigation or proceedings against the Trust or any of its officers or Trustees or controlling persons in connection with the issue and sale of Shares or in connection with the Registration Statement, Prospectuses, or SAIs.

(b)       FSC agrees to indemnify and hold harmless the Trust, each of its Trustees, each of its officers who have signed the Registration Statement and each other person, if any, who controls the Trust within the meaning of Section 15 of the Securities Act of 1933, but only with respect to statements or omissions, if any, made in the Registration Statement or any Prospectus, SAI, or any amendment or supplement thereof in reliance upon, and in conformity with, information furnished to the Trust about FSC by or on behalf of FSC expressly for use in the Registration Statement or any Prospectus, SAI, or any amendment or supplement thereof. In case any action shall be brought against the Trust or any other person so indemnified based on the Registration Statement or any Prospectus, SAI, or any amendment or supplement thereof, and with respect to which indemnity may be sought against FSC, FSC shall have the rights and duties given to the Trust, and the Trust and each other person so indemnified shall have the rights and duties given to FSC by the provisions of subsection (a) above.

(c)       Nothing herein contained shall be deemed to protect any person against liability to the Trust or its shareholders to which such person would otherwise be subject by reason of willful misfeasance, bad faith or gross negligence in the performance of the duties of such person or by reason of the reckless disregard by such person of the obligations and duties of such person under this Agreement.

(d)       Insofar as indemnification for liabilities may be permitted pursuant to Section 17 of the Investment Company Act of 1940, as amended, for Trustees, officers, FSC and controlling persons of the Trust by the Trustees pursuant to this Agreement, the Trust is aware of the position of the Securities and Exchange Commission as set forth in the Investment Company Act Release No. IC-11330. Therefore, the Trust undertakes that in addition to complying with the applicable provisions of this Agreement, in the absence of a final decision on the merits by a court or other body before which the proceeding was brought, that an indemnification payment will not be made unless in the absence of such a decision, a reasonable determination based upon factual review has been made (i) by a majority vote of a quorum of non-party Disinterested Trustees, or (ii) by independent legal counsel in a written opinion that the indemnitee was not liable for an act of willful misfeasance, bad faith, gross negligence or reckless disregard of duties. The Trust further undertakes that advancement of expenses incurred in the defense of a proceeding (upon undertaking for repayment unless it is ultimately determined that indemnification is appropriate) against an officer, Trustees, FSC or controlling person of the Trust will not be made absent the fulfillment of at least one of the following conditions: (i) the indemnitee provides security for his undertaking; (ii) the Trust is insured against losses arising by reason of any lawful advances; or (iii) a majority of a quorum of non-party Disinterested Trustees or independent legal counsel in a written opinion makes a factual determination that there is reason to believe the indemnitee will be entitled to indemnification.

11.       FSC is hereby expressly put on notice of the limitation of liability as set forth in Article VIII of the Declaration of Trust and agrees that the obligations assumed by the Trust pursuant to this agreement shall be limited in any case to the Trust and its assets and FSC shall not seek satisfaction of any such obligation from the shareholders of the Trust, the Trustees, officers, employees or agents of the Trust, or any of them.

12.       This Agreement will become binding on the parties hereto upon the execution of the attached exhibits to the Agreement.

 

13.       FSC agrees to maintain the security and confidentiality of nonpublic personal information (“NPI”) of Fund customers and consumers, as those terms are defined in Regulation S-P, 17 CFR Part 248. FSC agrees to use and redisclose such NPI for the limited purposes of processing and servicing transactions; for specified law enforcement and miscellaneous purposes; and to service providers or in connection with joint marketing arrangements directed by the Funds, in each instance in furtherance of fulfilling FSC’s obligations under this contract, and consistent with the exceptions provided in 17 CFR Sections 248.14, 248.15 and 248.13, respectively.

 

 
 

 

6/29/20 – Name changed to Federated Hermes MDT Large Cap Value Fund

 

 

Exhibit A

to the

Distributor's Contract

 

FEDERATED MDT EQUITY TRUST

FEDERATED MDT LARGE CAP VALUE FUND

Institutional Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated the 16th day of May, 2017 between FEDERATED MDT EQUITY TRUST and Federated Securities Corp. (FSC) with respect to the Institutional Shares of Federated MDT Large Cap Value Fund set forth above.

1.      FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

2.      FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor's Contract dated May 16, 2017, between the Trust and FSC, the Trust executes and delivers this Exhibit with respect to the Institutional Shares of the Fund set forth above.

Witness the due execution hereof this 1st day of June, 2017.

 

FEDERATED MDT EQUITY TRUST

 

By: /s/ George F. Magera

 

Name: George F. Magera

Title: Assistant Secretary

 

FEDERATED SECURITIES CORP.

 

By: /s/ Edward C. Bartley

 

Name: Edward C. Bartley

Title: Assistant Secretary

 

 
 

 

6/29/20 – Name changed to Federated Hermes MDT Large Cap Value Fund

 

 

Exhibit B

to the

Distributor's Contract

 

FEDERATED MDT EQUITY TRUST

FEDERATED MDT LARGE CAP VALUE FUND

Class R6 Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated the 16th day of May, 2017 between FEDERATED MDT EQUITY TRUST and Federated Securities Corp. (FSC) with respect to the R6 Shares of Federated MDT Large Cap Value Fund set forth above.

1.FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.
2.FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor's Contract dated May 16, 2017, between the Trust and FSC, the Trust executes and delivers this Exhibit with respect to the Class R6 Shares of the Fund set forth above.

Witness the due execution hereof this 1st day of June, 2017.

 

FEDERATED MDT EQUITY TRUST

 

By: /s/ George F. Magera

 

Name: George F. Magera

Title: Assistant Secretary

 

FEDERATED SECURITIES CORP.

 

By: /s/ Edward C. Bartley

 

Name: Edward C. Bartley

Title: Assistant Secretary

 
 

 

 

6/29/20 – Name changed to Federated Hermes MDT Large Cap Value Fund

 

 

Exhibit C

to the

Distributor's Contract

 

FEDERATED MDT EQUITY TRUST

FEDERATED MDT LARGE CAP VALUE FUND

Service Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated the 16th day of May, 2017 between FEDERATED MDT EQUITY TRUST and Federated Securities Corp. (FSC) with respect to the Service Shares of Federated MDT Large Cap Value Fund set forth above.

1.FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.
2.FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor's Contract dated May 16, 2017, between the Trust and FSC, the Trust executes and delivers this Exhibit with respect to the Service Shares of the Fund set forth above.

Witness the due execution hereof this 1st day of June 1, 2017.

 

FEDERATED MDT EQUITY TRUST

 

By: /s/ George F. Magera

 

Name: George F. Magera

Title: Assistant Secretary

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Edward C. Bartley

 

Name: Edward C. Bartley

Title: Assistant Secretary

 

 

 
 

6/29/20 – Name changed to Federated Hermes MDT Large Cap Value Fund

 

 

Exhibit D

 

to the

 

Distributor’s Contract

 

FEDERATED MDT EQUITY TRUST

FEDERATED MDT LARGE CAP VALUE FUND

Class A Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Trust and Federated Securities Corp. with respect to the Class of shares (“Shares”) set forth above.

1.The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.
2.During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:
a.With respect to the Class A Shares, a monthly fee computed as the annual rate of 0.05% of 1% of the average aggregate net asset value of the Shares held during the month;

For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

3.FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.
4.FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.
5.FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

 

 
 

 

Exhibit D (con’t)

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between FEDERATED MDT EQUITY TRUST and Federated Securities Corp., FEDERATED MDT LARGE CAP VALUE FUND executes and delivers this Exhibit on behalf of the FEDERATED MDT LARGE CAP VALUE FUND, and with respect to the Class A Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of June, 2017.

 

FEDERATED MDT EQUITY TRUST

 

By: /s/ George F. Magera

 

Name: George F. Magera

Title: Assistant Secretary

 

 

FEDERATED SECURITIES CORP.

 

 

By: /s/ Edward C. Bartley

 

Name: Edward C. Bartley

Title: Assistant Secretary

 

 
 

 

6/29/20 – Name changed to Federated Hermes MDT Large Cap Value Fund

 

Exhibit E

 

to the

 

Distributor’s Contract

 

FEDERATED MDT EQUITY TRUST

FEDERATED MDT LARGE CAP VALUE FUND

Class C Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Trust and Federated Securities Corp. with respect to the Class of shares (“Shares”) set forth above.

6.The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.
7.During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:
b.With respect to the Class C Shares, a monthly fee computed as the annual rate of 0.75% of 1% of the average aggregate net asset value of the Shares held during the month;

For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

8.FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.
9.FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.
10.FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

 

 
 

 

Exhibit E (con’t)

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between FEDERATED MDT EQUITY TRUST and Federated Securities Corp., FEDERATED MDT LARGE CAP VALUE FUND executes and delivers this Exhibit on behalf of the FEDERATED MDT LARGE CAP VALUE FUND, and with respect to the Class C Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of June. 2017.

 

FEDERATED MDT EQUITY TRUST

 

 

By:/s/ George F. Magera

 

Name: George F. Magera

Title: Assistant Secretary

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Edward C. Bartley

 

Name: Edward C. Bartley

Title: Assistant Secretary

 

 

 
 

 

6/29/20 – Name changed to Federated Hermes MDT Large Cap Value Fund

 

 

Exhibit F

to the

Distributor’s Contract

 

FEDERATED MDT EQUITY TRUST

FEDERATED MDT LARGE CAP VALUE FUND

Class R Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Trust and Federated Securities Corp. with respect to the Class of shares (“Shares”) set forth above.

11.The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.
12.During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:
c.With respect to the Class R Shares, a monthly fee computed as the annual rate of 0.50% of 1% of the average aggregate net asset value of the Shares held during the month;

For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

13.FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.
14.FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.
15.FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

 

 
 

 

Exhibit F (con’t)

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between FEDERATED MDT EQUITY TRUST and Federated Securities Corp., FEDERATED MDT LARGE CAP VALUE FUND executes and delivers this Exhibit on behalf of the FEDERATED MDT LARGE CAP VALUE FUND, and with respect to the Class R Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of June, 2017.

 

FEDERATED MDT EQUITY TRUST

 

By:/s/ George F. Magera

Name: George F. Magera

Title: Assistant Secretary

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Edward C. Bartley

Name: Edward C. Bartley

Title: Assistant Secretary

 

 
 

 

 

Exhibit G

to the

Distributor’s Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES SDG ENGAGEMENT EQUITY FUND

Class A Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class A Shares (“Shares”) of the portfolio set forth above.

1.The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

2.During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:

 

a.With respect to the Class A Shares, a monthly fee computed as the annual rate of 0.05% of 1% of the average aggregate net asset value of the Shares held during the month;

For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

3.FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.

 

4.FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.

 

5.FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes SDG Engagement Equity Fund, and with respect to the Class A Shares thereof, first set forth in this Exhibit.

 

(signature page to follow)

 
 

 

Witness the due execution hereof this 1st day of September, 2018.

 

FEDERATED ADVISER SERIES

 

 

By: J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 
 

 

Exhibit H

to the

Distributor’s Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES SDG ENGAGEMENT EQUITY FUND

Class C Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class C Shares (“Shares”) of the portfolio set forth above.

1.The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

2.During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:

 

a.With respect to the Class C Shares, a monthly fee computed as the annual rate of 0.75% of 1% of the average aggregate net asset value of the Shares held during the month;

 

3.For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

 

4.FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.

 

5.FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.

 

6.FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

 

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes SDG Engagement Equity Fund, and with respect to the Class C Shares thereof, first set forth in this Exhibit.

 

(signature page to follow)

 
 

 

Witness the due execution hereof this 1st day of September, 2018.

 

FEDERATED ADVISER SERIES

 

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 
 

 

Exhibit I

to the

Distributor's Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES SDG ENGAGEMENT EQUITY FUND

Institutional Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Institutional Shares (“Shares”) of the portfolio set forth above.

1.FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

2.FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes SDG Engagement Equity Fund, and with respect to the Institutional Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of September, 2018.

 

 

FEDERATED ADVISER SERIES

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 

 
 

 

Exhibit J

to the

Distributor's Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES SDG ENGAGEMENT EQUITY FUND

r6 shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class R6 Shares (“Shares”) of the portfolio set forth above.

1.FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

2.FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes SDG Engagement Equity Fund, and with respect to the Class R6 Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of September, 2018.

 

FEDERATED ADVISER SERIES

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 

 
 

 

Exhibit K

to the

Distributor’s Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES ABSOLUTE RETURN CREDIT FUND

Class A Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class A Shares (“Shares”) of the portfolio set forth above.

1The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

2During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:

 

a.With respect to the Class A Shares, a monthly fee computed as the annual rate of 0.05% of 1% of the average aggregate net asset value of the Shares held during the month;

For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

3FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.

 

4FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.

 

5FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes Absolute Return Credit Fund, and with respect to the Class A Shares thereof, first set forth in this Exhibit.

 

(signature page to follow)

 
 

 

Witness the due execution hereof this 1st day of December, 2018.

 

FEDERATED ADVISER SERIES

 

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 
 

 

Exhibit L

to the

Distributor’s Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES ABSOLUTE RETURN CREDIT FUND

Class C Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class C Shares (“Shares”) of the portfolio set forth above.

7.The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

8.During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:

 

a.With respect to the Class C Shares, a monthly fee computed as the annual rate of 0.75% of 1% of the average aggregate net asset value of the Shares held during the month;

 

9.For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

 

10.FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.

 

11.FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.

 

12.FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

 

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes Absolute Return Credit Fund, and with respect to the Class C Shares thereof, first set forth in this Exhibit.

 

(signature page to follow)

 
 

 

Witness the due execution hereof this 1st day of December, 2018.

 

FEDERATED ADVISER SERIES

 

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 
 

 

Exhibit M

to the

Distributor's Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES ABSOLUTE RETURN FUND

Institutional Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Institutional Shares (“Shares”) of the portfolio set forth above.

3.FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

4.FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes Absolute Return Credit Fund, and with respect to the Institutional Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of December, 2018.

 

 

FEDERATED ADVISER SERIES

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 

 
 

 

Exhibit N

to the

Distributor's Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES ABSOLUTE RETURN CREDIT FUND

r6 shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class R6 Shares (“Shares”) of the portfolio set forth above.

6FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

7FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes Absolute Return Credit Fund, and with respect to the Class R6 Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of December, 2018.

 

FEDERATED ADVISER SERIES

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 

 
 

 

Exhibit O

to the

Distributor’s Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES GLOBAL EQUITY FUND

Class A Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class A Shares (“Shares”) of the portfolio set forth above.

8The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

9During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:

 

b.With respect to the Class A Shares, a monthly fee computed as the annual rate of 0.05% of 1% of the average aggregate net asset value of the Shares held during the month;

For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

10FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.

 

11FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.

 

12FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes Global Equity Fund, and with respect to the Class A Shares thereof, first set forth in this Exhibit.

 

(signature page to follow)

 
 

 

Witness the due execution hereof this 1st day of December, 2018.

 

FEDERATED ADVISER SERIES

 

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 
 

 

Exhibit P

to the

Distributor’s Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES GLOBAL EQUITY FUND

Class C Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class C Shares (“Shares”) of the portfolio set forth above.

13.The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

14.During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:

 

a.With respect to the Class C Shares, a monthly fee computed as the annual rate of 0.75% of 1% of the average aggregate net asset value of the Shares held during the month;

 

15.For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

 

16.FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.

 

17.FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.

 

18.FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

 

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes Global Equity Fund, and with respect to the Class C Shares thereof, first set forth in this Exhibit.

 

(signature page to follow)

 
 

 

Witness the due execution hereof this 1st day of December, 2018.

 

FEDERATED ADVISER SERIES

 

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 
 

 

Exhibit Q

to the

Distributor's Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES GLOBAL EQUITY FUND

Institutional Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Institutional Shares (“Shares”) of the portfolio set forth above.

5.FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

6.FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes Global Equity Fund, and with respect to the Institutional Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of December, 2018.

 

 

FEDERATED ADVISER SERIES

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 

 
 

 

Exhibit R

to the

Distributor's Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES GLOBAL EQUITY FUND

r6 shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated
May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class R6 Shares (“Shares”) of the portfolio set forth above.

13FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

14FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes Global Equity Fund, and with respect to the Class R6 Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of December, 2018.

 

FEDERATED ADVISER SERIES

 

By: J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 

 
 

 

Exhibit S

to the

Distributor’s Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES GLOBAL SMALL CAP FUND

Class A Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class A Shares (“Shares”) of the portfolio set forth above.

15The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

16During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:

 

c.With respect to the Class A Shares, a monthly fee computed as the annual rate of 0.05% of 1% of the average aggregate net asset value of the Shares held during the month;

For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

17FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.

 

18FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.

 

19FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes Global Small Cap Fund and with respect to the Class A Shares thereof, first set forth in this Exhibit.

 

(signature page to follow)

 
 

 

Witness the due execution hereof this 1st day of December, 2018.

 

FEDERATED ADVISER SERIES

 

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 
 

 

Exhibit T

to the

Distributor’s Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES GLOBAL SMALL CAP FUND

Class C Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class C Shares (“Shares”) of the portfolio set forth above.

19.The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

20.During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:

 

a.With respect to the Class C Shares, a monthly fee computed as the annual rate of 0.75% of 1% of the average aggregate net asset value of the Shares held during the month;

 

21.For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

 

22.FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.

 

23.FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.

 

24.FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

 

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes Global Small Cap Fund, and with respect to the Class C Shares thereof, first set forth in this Exhibit.

 

(signature page to follow)

 
 

 

Witness the due execution hereof this 1st day of December, 2018.

 

FEDERATED ADVISER SERIES

 

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 
 

 

Exhibit U

to the

Distributor's Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES GLOBAL SMALL CAP FUND

Institutional Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Institutional Shares (“Shares”) of the portfolio set forth above.

7.FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

8.FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes Global Small Cap Fund, and with respect to the Institutional Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of December, 2018.

 

 

FEDERATED ADVISER SERIES

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 

 
 

 

Exhibit V

to the

Distributor's Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES GLOBAL SMALL CAP FUND

r6 shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated
May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class R6 Shares (“Shares”) of the portfolio set forth above.

20FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

21FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes Global Small Cap Fund, and with respect to the Class R6 Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of December, 2018.

 

FEDERATED ADVISER SERIES

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 

 
 

 

.Exhibit W

to the

Distributor’s Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES UNCONSTRAINED CREDIT FUND

Class A Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class A Shares (“Shares”) of the portfolio set forth above.

22The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

23During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:

 

d.With respect to the Class A Shares, a monthly fee computed as the annual rate of 0.05% of 1% of the average aggregate net asset value of the Shares held during the month;

For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

24FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.

 

25FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.

 

26FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes Unconstrained Credit Fund and with respect to the Class A Shares thereof, first set forth in this Exhibit.

 

(signature page to follow)

 
 

 

Witness the due execution hereof this 1st day of December, 2018.

 

FEDERATED ADVISER SERIES

 

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 
 

 

Exhibit X

to the

Distributor’s Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES UNCONSTRAINED CREDIT FUND

Class C Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class C Shares (“Shares”) of the portfolio set forth above.

25.The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

26.During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:

 

a.With respect to the Class C Shares, a monthly fee computed as the annual rate of 0.75% of 1% of the average aggregate net asset value of the Shares held during the month;

 

27.For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

 

28.FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.

 

29.FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.

 

30.FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

 

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes Unconstrained Credit Fund, and with respect to the Class C Shares thereof, first set forth in this Exhibit.

 

(signature page to follow)

 
 

 

Witness the due execution hereof this 1st day of December, 2018.

 

FEDERATED ADVISER SERIES

 

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 
 

 

Exhibit Y

to the

Distributor's Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES UNCONSTRAINED CREDIT FUND

Institutional Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Institutional Shares (“Shares”) of the portfolio set forth above.

9.FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

10.FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes Unconstrained Credit Fund, and with respect to the Institutional Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of December, 2018.

 

 

FEDERATED ADVISER SERIES

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 

 
 

 

Exhibit Z

to the

Distributor's Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES UNCONSTRAINED CREDIT FUND

r6 shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated
May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class R6 Shares (“Shares”) of the portfolio set forth above.

27FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

28FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes Unconstrained Credit Fund, and with respect to the Class R6 Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of December, 2018.

 

FEDERATED ADVISER SERIES

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 

 
 

 

 

6/29/20 – Name changed to Federated Hermes International Developed Equity Fund

 

 

.Exhibit AA

to the

Distributor’s Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES INTERNATIONAL EQUITY FUND

Class A Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class A Shares (“Shares”) of the portfolio set forth above.

29The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

30During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:

 

e.With respect to the Class A Shares, a monthly fee computed as the annual rate of 0.05% of 1% of the average aggregate net asset value of the Shares held during the month;

For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

31FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.

 

32FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.

 

33FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes International Equity Fund and with respect to the Class A Shares thereof, first set forth in this Exhibit.

 

(signature page to follow)

 
 

Witness the due execution hereof this 1st day of April 1, 2019.

 

FEDERATED ADVISER SERIES

 

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 
 

 

 

6/29/20 – Name changed to Federated Hermes International Developed Equity Fund

 

 

Exhibit BB

to the

Distributor’s Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES INTERNATIONAL EQUITY FUND

Class C Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated

May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class C Shares (“Shares”) of the portfolio set forth above.

 

34The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

35During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:

 

a.With respect to the Class C Shares, a monthly fee computed as the annual rate of 0.75% of 1% of the average aggregate net asset value of the Shares held during the month;

 

36For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

 

37FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.

 

38FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.

 

39FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

 

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes International Equity Fund, and with respect to the Class C Shares thereof, first set forth in this Exhibit.

 

(signature page to follow)

 
 

Witness the due execution hereof this 1st day of April 2019.

 

FEDERATED ADVISER SERIES

 

 

By:/s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 
 

 

 

6/29/20 – Name changed to Federated Hermes International Developed Equity Fund

 

 

Exhibit CC

to the

Distributor's Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES INTERNATIONAL EQUITY FUND

Institutional Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated

May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Institutional Shares (“Shares”) of the portfolio set forth above.

40FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

41FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes International EquityFund, and with respect to the Institutional Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of April, 2019.

 

 

FEDERATED ADVISER SERIES

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 

 

 
 

 

 

6/29/20 – Name changed to Federated Hermes International Developed Equity Fund

 

Exhibit DD

to the

Distributor's Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES INTERNATIONAL EQUITY FUND

r6 shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated
May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class R6 Shares (“Shares”) of the portfolio set forth above.

42FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

43FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes International Equity Fund, and with respect to the Class R6 Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of April, 2019.

 

FEDERATED ADVISER SERIES

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 

 
 

 

 

6/29/20 – Name changed to Federated Hermes Emerging Markets Equity Fund

 

 

Exhibit EE

to the

Distributor’s Contract

 

FEDERATED ADVISER SERIES

FEDERATED EMERGING MARKETS EQUITY FUND

Class A Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class A Shares (“Shares”) of the portfolio set forth above.

44The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

45During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:

 

f.With respect to the Class A Shares, a monthly fee computed as the annual rate of 0.05% of 1% of the average aggregate net asset value of the Shares held during the month;

For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

46FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.

 

47FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.

 

48FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Emerging Markets Equity Fund and with respect to the Class A Shares thereof, first set forth in this Exhibit.

 

(signature page to follow)

 
 

Witness the due execution hereof this 1st day of June 1, 2019.

 

FEDERATED ADVISER SERIES

 

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 
 

 

6/29/20 – Name changed to Federated Hermes Emerging Markets Equity Fund

 

 

Exhibit FF

to the

Distributor’s Contract

 

FEDERATED ADVISER SERIES

FEDERATED EMERGING MARKETS EQUITY FUND

Class C Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated

May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class C Shares (“Shares”) of the portfolio set forth above.

 

49The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

50During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:

 

b.With respect to the Class C Shares, a monthly fee computed as the annual rate of 0.75% of 1% of the average aggregate net asset value of the Shares held during the month;

 

51For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

 

52FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.

 

53FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.

 

54FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

 

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Emerging Markets Equity Fund, and with respect to the Class C Shares thereof, first set forth in this Exhibit.

 

(signature page to follow)

 
 

 

Witness the due execution hereof this 1st day of June 2019.

 

FEDERATED ADVISER SERIES

 

 

By:/s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 
 

 

6/29/20 – Name changed to Federated Hermes Emerging Markets Equity Fund

 

 

Exhibit GG

to the

Distributor's Contract

 

FEDERATED ADVISER SERIES

FEDERATED EMERGING MARKETS EQUITY FUND

Institutional Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated

May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Institutional Shares (“Shares”) of the portfolio set forth above.

55FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

56FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Emerging Markets Equity Fund, and with respect to the Institutional Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of June, 2019.

 

 

FEDERATED ADVISER SERIES

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 

 
 

 

6/29/20 – Name changed to Federated Hermes Emerging Markets Equity Fund

 

 

Exhibit HH

to the

Distributor's Contract

 

FEDERATED ADVISER SERIES

FEDERATED EMERGING MARKETS EQUITY FUND

r6 shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated
May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class R6 Shares (“Shares”) of the portfolio set forth above.

57FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

58FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Emerging Markets Equity Fund, and with respect to the Class R6 Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of June, 2019.

 

FEDERATED ADVISER SERIES

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 

 
 

 

6/29/20 – Name changed to Federated Hermes International Equity Fund

 

Exhibit II

to the

Distributor’s Contract

 

FEDERATED ADVISER SERIES

FEDERATED INTERNATIONAL EQUITY FUND

Class A Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class A Shares (“Shares”) of the portfolio set forth above.

59The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

60During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:

 

g.With respect to the Class A Shares, a monthly fee computed as the annual rate of 0.05% of 1% of the average aggregate net asset value of the Shares held during the month;

For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

61FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.

 

62FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.

 

63FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated International Equity Fund and with respect to the Class A Shares thereof, first set forth in this Exhibit.

 

(signature page to follow)

 
 

 

Witness the due execution hereof this 1st day of June 1, 2019.

 

FEDERATED ADVISER SERIES

 

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 
 

 

 

6/29/20 – Name changed to Federated Hermes International Equity Fund

 

 

Exhibit JJ

to the

Distributor’s Contract

 

FEDERATED ADVISER SERIES

FEDERATED INTERNATIONAL EQUITY FUND

Class C Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated

May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class C Shares (“Shares”) of the portfolio set forth above.

 

64The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

65During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:

 

c.With respect to the Class C Shares, a monthly fee computed as the annual rate of 0.75% of 1% of the average aggregate net asset value of the Shares held during the month;

 

66For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

 

67FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.

 

68FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.

 

69FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

 

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated International Equity Fund, and with respect to the Class C Shares thereof, first set forth in this Exhibit.

 

(signature page to follow)

 

Witness the due execution hereof this 1st day of June 2019.

 

FEDERATED ADVISER SERIES

 

 

By:/s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 
 

 

 

6/29/20 – Name changed to Federated Hermes International Equity Fund

 

 

Exhibit KK

to the

Distributor's Contract

 

FEDERATED ADVISER SERIES

FEDERATED INTERNATIONAL EQUITY FUND

Institutional Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated

May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Institutional Shares (“Shares”) of the portfolio set forth above.

70FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

71FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated International Equity Fund, and with respect to the Institutional Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of June, 2019.

 

 

FEDERATED ADVISER SERIES

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 

 
 

 

 

6/29/20 – Name changed to Federated Hermes International Equity Fund

 

 

Exhibit LL

to the

Distributor's Contract

 

FEDERATED ADVISER SERIES

FEDERATED INTERNATIONAL EQUITY FUND

r6 shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated
May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class R6 Shares (“Shares”) of the portfolio set forth above.

72FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

73FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated International Equity Fund, and with respect to the Class R6 Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of June, 2019.

 

FEDERATED ADVISER SERIES

 

By:/s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 

 

 

 
 

 

 

6/29/20 – Name changed to Federated Hermes International Equity Fund

 

 

Exhibit MM

to the

Distributor’s Contract

 

FEDERATED ADVISER SERIES

FEDERATED INTERNATIONAL GROWTH FUND

Class A Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class A Shares (“Shares”) of the portfolio set forth above.

74The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

75During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:

 

h.With respect to the Class A Shares, a monthly fee computed as the annual rate of 0.05% of 1% of the average aggregate net asset value of the Shares held during the month;

For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

76FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.

 

77FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.

 

78FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated International Growth Fund and with respect to the Class A Shares thereof, first set forth in this Exhibit.

 

(signature page to follow)

Witness the due execution hereof this 1st day of June 1, 2019.

 

FEDERATED ADVISER SERIES

 

 

By:/s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 
 

 

 

6/29/20 – Name changed to Federated Hermes International Growth Fund

 

 

Exhibit NN

to the

Distributor’s Contract

 

FEDERATED ADVISER SERIES

FEDERATED INTERNATIONAL GROWTH FUND

Class C Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated

May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class C Shares (“Shares”) of the portfolio set forth above.

 

79The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

80During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:

 

d.With respect to the Class C Shares, a monthly fee computed as the annual rate of 0.75% of 1% of the average aggregate net asset value of the Shares held during the month;

 

81For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

 

82FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.

 

83FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.

 

84FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

 

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated International Growth Fund, and with respect to the Class C Shares thereof, first set forth in this Exhibit.

 

(signature page to follow)

 
 

Witness the due execution hereof this 1st day of June 2019.

 

FEDERATED ADVISER SERIES

 

 

By:/s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 
 

 

 

6/29/20 – Name changed to Federated Hermes International Growth Fund

 

 

Exhibit OO

to the

Distributor's Contract

 

FEDERATED ADVISER SERIES

FEDERATED INTERNATIONAL GROWTH FUND

Institutional Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated

May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Institutional Shares (“Shares”) of the portfolio set forth above.

85FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

86FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated International Growth Fund, and with respect to the Institutional Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of June, 2019.

 

 

FEDERATED ADVISER SERIES

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

FEDERATED SECURITIES CORP.

 

By:/s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 

 
 

 

 

6/29/20 – Name changed to Federated Hermes International Growth Fund

 

 

Exhibit PP

to the

Distributor's Contract

 

FEDERATED ADVISER SERIES

FEDERATED INTERNATIONAL GROWTH FUND

r6 shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated
May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class R6 Shares (“Shares”) of the portfolio set forth above.

87FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

88FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated International Growth Fund, and with respect to the Class R6 Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of June, 2019.

 

FEDERATED ADVISER SERIES

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit QQ

to the

Distributor’s Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES SDG ENGAGEMENT HIGH YIELD CREDIT FUND

Class A Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class A Shares (“Shares”) of the portfolio set forth above.

89The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

90During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:

 

i.With respect to the Class A Shares, a monthly fee computed as the annual rate of 0.05% of 1% of the average aggregate net asset value of the Shares held during the month;

For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

91FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.

 

92FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.

 

93FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes SDG Engagement High Yield Credit Fund with respect to the Class A Shares thereof, first set forth in this Exhibit.

 

(signature page to follow)

 
 

Witness the due execution hereof this 1st day of September 1, 2019.

 

FEDERATED ADVISER SERIES

 

 

By:/s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 
 

 

Exhibit RR

to the

Distributor’s Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES SDG ENGAGEMENT HIGH YIELD CREDIT FUND

Class C Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated

May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class C Shares (“Shares”) of the portfolio set forth above.

 

94The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

95During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:

 

e.With respect to the Class C Shares, a monthly fee computed as the annual rate of 0.75% of 1% of the average aggregate net asset value of the Shares held during the month;

 

96For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

 

97FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.

 

98FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.

 

99FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

 

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes SDG Engagement High Yield Credit Fund, and with respect to the Class C Shares thereof, first set forth in this Exhibit.

 

(signature page to follow)

 
 

 

Witness the due execution hereof this 1st day of September 2019.

 

FEDERATED ADVISER SERIES

 

 

By:/s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 
 

 

Exhibit SS

to the

Distributor's Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES SDG ENGAGEMENT HIGH YIELD CREDIT FUND

Institutional Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated

May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Institutional Shares (“Shares”) of the portfolio set forth above.

100FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

101FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes SDG Engagement High Yield Credit Fund, and with respect to the Institutional Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of September, 2019.

 

 

FEDERATED ADVISER SERIES

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 

 
 

Exhibit TT

to the

Distributor's Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES SDG ENGAGEMENT HIGH YIELD CREDIT FUND

r6 shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated
May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class R6 Shares (“Shares”) of the portfolio set forth above.

102FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

103FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes SDG Engagement High Yield Credit Fund, and with respect to the Class R6 Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of September, 2019.

 

FEDERATED ADVISER SERIES

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit UU

to the

Distributor’s Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES U.S. SMID FUND

Class A Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class A Shares (“Shares”) of the portfolio set forth above.

104The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

105During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:

 

j.With respect to the Class A Shares, a monthly fee computed as the annual rate of 0.05% of 1% of the average aggregate net asset value of the Shares held during the month;

For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

106FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.

 

107FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.

 

108FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes U.S. SMID Fund with respect to the Class A Shares thereof, first set forth in this Exhibit.

 

(signature page to follow)

 
 

 

Witness the due execution hereof this 1st day of March, 2020.

 

FEDERATED ADVISER SERIES

 

 

By: J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 
 

 

Exhibit VV

to the

Distributor’s Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES U.S. SMID FUND

Class C Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated

May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class C Shares (“Shares”) of the portfolio set forth above.

 

109The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

110During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:

 

f.With respect to the Class C Shares, a monthly fee computed as the annual rate of 0.75% of 1% of the average aggregate net asset value of the Shares held during the month;

 

111For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

 

112FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.

 

113FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.

 

114FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

 

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes U.S. SMID Fund, and with respect to the Class C Shares thereof, first set forth in this Exhibit.

 

(signature page to follow)

 
 

 

Witness the due execution hereof this 1st day of March, 2020.

 

FEDERATED ADVISER SERIES

 

 

By:/s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 
 

 

Exhibit WW

to the

Distributor's Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES U.S. SMID FUND

Institutional Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated

May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Institutional Shares (“Shares”) of the portfolio set forth above.

115FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

116FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes U.S. SMID Fund, and with respect to the Institutional Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of March, 2020.

 

 

FEDERATED ADVISER SERIES

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 

 
 

Exhibit XX

to the

Distributor's Contract

 

FEDERATED ADVISER SERIES

FEDERATED HERMES U.S. SMID FUND

r6 shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated
May 16, 2017, between the Federated Adviser Series and Federated Securities Corp. with respect to the Class R6 Shares (“Shares”) of the portfolio set forth above.

117FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

118FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Adviser Series and Federated Securities Corp., Federated Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes U.S. SMID Fund, and with respect to the Class R6 Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of March, 2020.

 

FEDERATED ADVISER SERIES

 

By:/s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit YY

to the

Distributor’s Contract

 

FEDERATED HERMES ADVISER SERIES

FEDERATED HERMES CONSERVATIVE MICROSHORT FUND

Class A Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Federated Hermes Adviser Series and Federated Securities Corp. with respect to the Class A Shares (“Shares”) of the portfolio set forth above.

1.The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

2During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:

 

k.With respect to the Class A Shares, a monthly fee computed as the annual rate of 0.05% of 1% of the average aggregate net asset value of the Shares held during the month;

For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

2.FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.

 

3.FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.

 

4.FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Hermes Adviser Series and Federated Securities Corp., Federated Hermes Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes Conservative Microshort Fund with respect to the Class A Shares thereof, first set forth in this Exhibit.

 

(signature page to follow)

 
 

 

Witness the due execution hereof this 1st day of December, 2020.

 

FEDERATED HERMES ADVISER SERIES

 

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 
 

Exhibit ZZ

to the

Distributor's Contract

 

FEDERATED HERMES ADVISER SERIES

FEDERATED HERMES CONSERVATIVE MICROSHORT FUND

Institutional Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated

May 16, 2017, between the Federated Hermes Adviser Series and Federated Securities Corp. with respect to the Institutional Shares (“Shares”) of the portfolio set forth above.

5.      FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

6.      FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Hermes Adviser Series and Federated Securities Corp., Federated Hermes Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes Conservative Microshort Fund, and with respect to the Institutional Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of December, 2020.

 

 

FEDERATED HERMES ADVISER SERIES

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit AAA

to the

Distributor’s Contract

 

FEDERATED HERMES ADVISER SERIES

FEDERATED HERMES CONSERVATIVE MUNICIPAL MICROSHORT FUND

Class A Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Federated Hermes Adviser Series and Federated Securities Corp. with respect to the Class A Shares (“Shares”) of the portfolio set forth above.

7.The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

8.During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:

 

l.With respect to the Class A Shares, a monthly fee computed as the annual rate of 0.05% of 1% of the average aggregate net asset value of the Shares held during the month;

For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

9.FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.

 

10.FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.

 

11.FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Hermes Adviser Series and Federated Securities Corp., Federated Hermes Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes Conservative Municipal Microshort Fund with respect to the Class A Shares thereof, first set forth in this Exhibit.

 

(signature page to follow)

 
 

 

Witness the due execution hereof this 1st day of December, 2020.

 

FEDERATED HERMES ADVISER SERIES

 

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 
 

Exhibit BBB

to the

Distributor's Contract

 

FEDERATED HERMES ADVISER SERIES

FEDERATED HERMES CONSERVATIVE MUNICIPAL MICROSHORT FUND

Institutional Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated

May 16, 2017, between the Federated Hermes Adviser Series and Federated Securities Corp. with respect to the Institutional Shares (“Shares”) of the portfolio set forth above.

12.   FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

13.   FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Hermes Adviser Series and Federated Securities Corp., Federated Hermes Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes Conservative Municipal Microshort Fund, and with respect to the Institutional Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of December, 2020.

 

 

FEDERATED HERMES ADVISER SERIES

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 

 

 
 

 

Exhibit CCC

to the

Distributor’s Contract

 

FEDERATED HERMES ADVISER SERIES

FEDERATED HERMES MDT MARKET NEUTRAL FUND

Class A Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated May 16, 2017, between the Federated Hermes Adviser Series and Federated Securities Corp. with respect to the Class A Shares (“Shares”) of the portfolio set forth above.

1The Trust hereby appoints FSC to engage in activities principally intended to result in the sale of shares of the above-listed Class. Pursuant to this appointment, FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

2During the term of this Agreement, the Trust will pay FSC for services pursuant to this Agreement:

 

 

b.with respect to the Class A Shares, a monthly fee computed as the annual rate of 0.05% of 1% of the average aggregate net asset value of the Shares held during the month;

For the month in which this Agreement becomes effective or terminates, there shall be an appropriate proration of any fee payable on the basis of the number of days that the Agreement is in effect during the month.

3FSC may from time-to-time and for such periods as it deems appropriate reduce its compensation to the extent any Class expenses exceed such lower expense limitation as FSC may, by notice to the Trust, voluntarily declare to be effective.

 

4FSC will enter into separate written agreements with various firms to provide certain of the services set forth in Paragraph 1 herein. FSC, in its sole discretion, may pay Financial Institutions a periodic fee in respect of Shares owned from time to time by their clients or customers. The schedules of such fees and the basis upon which such fees will be paid shall be determined from time to time by FSC in its sole discretion.

 

5FSC will prepare reports to the Board of Trustees of the Trust on a quarterly basis showing amounts expended hereunder including amounts paid to Financial Institutions and the purpose for such expenditures.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Hermes Adviser Series and Federated Securities Corp., Federated Hermes Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes Market Neutral Fund with respect to the Class A Shares thereof, first set forth in this Exhibit.

 

(signature page to follow)

 
 

 

Witness the due execution hereof this 1st day of December, 2020.

 

FEDERATED HERMES ADVISER SERIES

 

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul a. Uhlman

Name: Paul A. Uhlman

Title: President

 
 

Exhibit DDD

to the

Distributor's Contract

 

FEDERATED HERMES ADVISER SERIES

FEDERATED HERMES MDT MARKET NEUTRAL FUND

Institutional Shares

The following provisions are hereby incorporated and made part of the Distributor’s Contract dated

May 16, 2017, between the Federated Hermes Adviser Series and Federated Securities Corp. with respect to the Institutional Shares (“Shares”) of the portfolio set forth above.

1FSC is authorized to select a group of financial institutions (“Financial Institutions”) to sell Shares at the current offering price thereof as described and set forth in the respective prospectuses of the Trust.

 

2FSC will enter into separate written agreements with such Financial Institutions to sell Shares as set forth in Paragraph 1 herein.

In consideration of the mutual covenants set forth in the Distributor’s Contract dated May 16, 2017, between Federated Hermes Adviser Series and Federated Securities Corp., Federated Hermes Adviser Series executes and delivers this Exhibit on behalf of the Federated Hermes MDT Market Neutral Fund, and with respect to the Institutional Shares thereof, first set forth in this Exhibit.

Witness the due execution hereof this 1st day of December, 2020.

 

 

FEDERATED HERMES ADVISER SERIES

 

By: /s/ J. Christopher Donahue

Name: J. Christopher Donahue

Title: President

 

 

 

 

FEDERATED SECURITIES CORP.

 

By: /s/ Paul A. Uhlman

Name: Paul A. Uhlman

Title: President

 

 

 

 

Exhibit 28 (g)(1) under Form N-1A

Exhibit 10 under item 601/Reg. S-K

 

 

 

CUSTODY AGREEMENT

 

AGREEMENT, dated as of June 7, 2005 between the registered investment companies, on behalf of each Series of such registered investment companies, if any, listed on Schedule I to this Agreement, as it may be amended from time to time (each standalone registered investment company and each Series a “Fund” and collectively the “Funds”) and The Bank of New York, a New York corporation authorized to do a banking business having its principal office and place of business at One Wall Street, New York, New York 10286 (“Custodian” or “Bank”).

 

WITNESSETH:

 

that for and in consideration of the mutual promises hereinafter set forth the Funds and Custodian agree as follows:

 

ARTICLE I

DEFINITIONS

 

Whenever used in this Agreement, the following words shall have the meanings set forth below:

 

1. “Authorized Person” shall be any person, whether or not an officer or employee of the Fund, duly authorized by the Fund's board to execute any Certificate or to give any Oral Instruction with respect to one or more Accounts, such persons to be designated in a “Certificate annexed hereto as Schedule I hereto or such other Certificate as may be received by Custodian from time to time.

 

2. “BNY Affiliate” shall mean any office, branch or subsidiary of The Bank of New York Company, Inc.

 

3. “Book-Entry System” shall mean the Federal Reserve/Treasury book-entry system for receiving and delivering securities, its successors and nominees.

 

4. “Business Day” shall mean any day on which Custodian and relevant Depositories are open for business.

 

5. “Certificate” shall mean any notice, instruction, or other instrument in writing, authorized or required by this Agreement to be given to Custodian, which is actually received by Custodian by letter or facsimile transmission and signed on behalf of a Fund by an Authorized Person or a person reasonably believed by Custodian to be an Authorized Person.

 

6. “Composite Currency Unit” shall mean the Euro or any other composite currency unit consisting of the aggregate of specified amounts of specified currencies, as such unit may be constituted from time to time.

 

 

 

7. “Depository” shall include (a) the Book-Entry System, (b) the Depository Trust Company, { c) any other clearing agency or securities depository registered with the Securities and Exchange Commission identified to the Fund from time to time, and (d) the respective successors and nominees of the foregoing.

 

8. “Foreign Depository” shall mean (a) Euroclear, (b) Clearstream Banking, societe anonyme, (c) each Eligible Securities Depository as defined in Rule 17f-7 under the Investment Company Act of 1940, as amended, identified to the Fund from time to time, and (d) the respective successors and nominees of the foregoing.

 

9. “Instructions” shall mean communications transmitted by electronic or telecommunications media, including S.W.I.F.T., computer-to-computer interface, or dedicated transmission lines.

 

10. “Oral Instructions” shall mean verbal instructions received by Custodian from an Authorized Person or from a person reasonably believed by Custodian to be an Authorized Person.

 

11. “Series” shall mean a “series company” as defined in Rule 18f-2(a) promulgated under the Investment Company Act of 1940.

 

12. “Securities” shall include, without limitation, any common stock and other equity securities, bonds, debentures and other debt securities, notes, mortgages or other obligations, and any instruments representing rights to receive, purchase, or subscribe for the same, or representing any other rights or interests therein (whether represented by a certificate or held in a Depository or by a Subcustodian).

 

13. “Subcustodian” shall mean a bank (including any branch thereof) or other financial institution (other than a Foreign Depository) located outside the U.S. which is utilized by Custodian in connection with the purchase, sale or custody of Securities hereunder and identified to the Fund from time to time, and their respective successors and nominees.

 

14. See Second Amendment, dated 9/5/08

 

ARTICLE II

APPOINTMENT OF CUSTODIAN; ACCOUNTS;

REPRESENTATIONS, WARRANTIES, AND COVENANTS

 

1. (a) The Fund hereby appoints Custodian as Custodian of all Securities and cash at any time delivered to Custodian during the term of this Agreement, and authorizes Custodian to hold Securities in registered form in its name or the name of its nominees. Custodian hereby accepts such appointment and agrees to establish and maintain one or more securities accounts and cash accounts for each Fund in which Custodian will hold Securities and cash as provided herein. Custodian shall maintain books and records segregating the assets of each Fund from the assets of any other Fund. Such accounts (each, an “Account”; collectively, the “Accounts”) shall be in the name of each Fund.

 

(b)        Custodian may from time to time establish on its books and records such sub-accounts within each Account as the Fund and Custodian may agree upon (each a “Special Account”), and Custodian shall reflect therein such assets as the Fund may specify in a Certificate or Instructions.

 

(c)        Custodian may from time to time establish pursuant to a written agreement with and for the benefit of a broker, dealer, future commission merchant or other third party identified in a Certificate or Instruction such accounts on such terms and conditions as the Fund and Custodian shall agree, and Custodian shall transfer to such account such Securities and money as a Fund may specify in a Certificate or Instructions.

 

2.        Each Fund hereby represents and warrants, which representations and warranties shall be continuing and shall be deemed to be reaffirmed upon each delivery of a Certificate or each giving of Oral Instructions or Instructions by a Fund, that:

 

(a)        It is duly organized and existing under the laws of the jurisdiction of its organization, with full power to carry on its business as now conducted, to enter into this Agreement, and to perform its obligations hereunder;

 

(b)        This Agreement has been duly authorized by resolution of the Funds' boards, executed and delivered by each Fund, constitutes a valid and legally binding obligation of each Fund, enforceable in accordance with its terms, and there is no statute, regulation, role, order or judgment binding on it, and no provision of its charter or by-laws, nor of any mortgage, indenture, credit agreement or other contract binding on it or affecting its property, which would prohibit its execution or performance of this Agreement;

 

(c)        It is conducting its business in substantial compliance with all applicable laws and requirements, both state and federal, and has obtained all regulatory licenses, approvals and consents necessary to carry on its business as now conducted;

 

(d)        It will not use the services provided by Custodian hereunder in any manner that is, or will result in, a violation of any law, rule or regulation applicable to the Fund;

 

(e)        Its foreign custody manager, if the foreign custody manager is not the Custodian, as defined in Rule 17f-5 under the Investment Company Act of 1940, as amended (the “'40 Act”), has determined that use of each Subcustodian (including any Replacement Custodian) which Custodian is authorized to utilize in accordance with Section 1 (a) of Article ill hereof satisfies the applicable requirements of the '40 Act and Rule 17f-5 thereunder;

 

(f)        It is fully informed of the protections and risks associated with various methods of transmitting Instructions and Oral Instructions and delivering Certificates to Custodian, shall, and shall cause each Authorized Person, to safeguard and treat with reasonable care any user and authorization codes, passwords and/or authentication keys, understands that there may be more secure methods of transmitting or delivering the same than the methods selected by it, agrees that the security procedures (if any) to be utilized provide a commercially reasonable degree of protection in light of its particular needs and circumstances, and acknowledges and agrees that Instructions may conclusively be presumed by Custodian to have been given by person(s) duly authorized, and may be acted upon as given;

 

(g)        It shall manage its borrowings, including, without limitation any advance or overdraft (including any day-light overdraft) in the Accounts, so that the aggregate of its total borrowings for each Fund does not exceed the amount such Fund is permitted to borrow under the '40 Act;

 

(h)        Its transmission or giving of, and Custodian acting upon and in reliance on Certificates, Instructions, or Oral Instructions pursuant to this Agreement shall at all times comply with the '40 Act; and

 

(i)        It has the right to grant the security interest and security entitlement to Custodian contained in Section 1 of Article V hereof, free of any right of redemption or prior claim of any other person or entity, such pledge and such grants shall have a first priority subject to no setoffs, counterclaims, or other liens or grants prior to or on a parity therewith, and it shall take such additional steps as Custodian may require to assure such priority;

 

(j)        Each Fund or its investment adviser has considered the custody risks of maintaining assets with each Foreign Depository with which it maintains its assets.

 

(k)        Each Fund shall cause procedures to be maintained on the manner in which Instructions pursuant to which cash is distributed shall be given to Custodian.

 

3.        The Fund hereby covenants that it shall from time to time complete and execute and deliver to Custodian upon Custodian's request a Form FR U-1 (or successor form) whenever the Fund borrows from Custodian any money to be used for the purchase or carrying of margin stock as defined in Federal Reserve Regulation U .

 

4.        The Bank hereby represents and warrants, which representations and warranties shall be continuing that:

 

(a)        It is a bank having the qualifications prescribed in paragraph (1) of section 26(a) of the '40 Act;

 

(b)        It is duly organized and existing under the laws of the jurisdiction of its organization, with full power to carry on its business as now conducted, to enter into this Agreement, and to perform its obligations hereunder;

 

(c)        It is conducting its business in substantial compliance with all applicable laws and requirements, both state and federal, and has obtained all regulatory licenses, approvals and consents necessary to carry on its business as now conducted.

 

(d)        In connection with the Funds' obligations under Rule 38a-l of the 1940 Act the Bank agrees as follows:

 

(1)        the Bank agrees to reasonably cooperate with the Funds and the Funds' Chief Compliance Officer in the administration of the Funds' compliance program (“Compliance Program”) as required by the Securities and Exchange Commission (“SEC”);

 

(2)        the Bank has implemented and maintains policies and procedw.-es reasonably designed to prevent, detect and promptly correct any violations of Federal Securities Laws with respect to services the Bank provides to the Funds (“Compliance Procedures”);

 

(3)        the Bank Will provide summaries of any Compliance Procedures that may affect in any material respect, the services provided hereunder by the Bank to the Funds;

 

(4)        the Bank periodically reviews the adequacy of such Compliance Procedures and the effectiveness of their implementation and upon the request of a Fund, Will provide the then current interval between such reviews;

 

(5)        in the event that an officer or employee of the Bank administering this Agreement has actual knowledge of the occurrence of a “Material Compliance Matter” (as defined in Rule 38a-l(e)(2)) which the Bank reasonably believes is related to or Will affect the Fund, the Bank will, if permitted by law and the Bank's regulators, notify the Fund of such occurrence;

 

(6)        except where prohibited bylaw, regulation or rule or as may be directed or instructed by the Bank's regulators, the Bank agrees to notify the Funds following quarter-end of any inspections by, or other inquiries received from, the SEC or any other regulatory or law enforcement agency after the date of this certification, which relate to the services provided by the Bank to the Funds hereunder. For the avoidance of doubt, such notification obligation shall be satisfied if the notice is contained in any publicly available regulatory filing.

 

(d)        The Bank will maintain throughout the term of this Agreement, such contingency plans as it reasonably believes to be necessary and appropriate to recover its operations from the occurrence of a disaster and which are consistent with any statue or regulation to which it is subject that imposes business resumption and contingency planning standards. The Bank agrees to provide the Funds With a summary of its contingency plan as it relates to the systems used to provide the services hereunder and to provide the Funds with periodic updates of such summary upon the Funds' reasonable request.

 

ARTICLE III

CUSTODY AND RELATED SERVICES

 

1. (a) Subject to the terms hereof, each Fund hereby authorizes Custodian to hold any Securities received by it from time to time for the Fund's account. Custodian shall be entitled to utilize, subject to subsection (c) of this Section I, Depositories, Subcustodians, and, subject to subsection (d) of this Section 1, Foreign Depositories, to the extent possible in connection With its performance hereunder. Securities and cash held in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity .Securities and cash held through Subcustodians shall be held subject to the terms and conditions of Custodian's agreements with such Subcustodians. Subcustodians may be authorized to hold Securities in Foreign Depositories in which such Subcustodians participate. Unless otherwise required by local law or practice or a particular Subcustodian agreement, Securities deposited with a Subcustodian, a Depositary or a Foreign Depository Will be held in a commingled account, in the name of Custodian, holding only Securities held by Custodian as Custodian for its customers.

 

Custodian shall identify on its books and records the Securities and cash belonging to the Fund, whether held directly or indirectly through Depositories, Foreign Depositories, or Subcustodians. Custodian shall, directly or indirectly, through Subcustodians, Depositories, or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, or where such Securities are acquired. Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (the “Replacement Subcustodian”). In the event Custodian selects a Replacement Subcustodian, Custodian shall not utilize such Replacement Subcustodian until after the Fund's foreign custody manager has determined that utilization of such Replacement Subcustodian satisfies the requirements of the' 40 Act and Rule 17f-5 thereunder.

 

(b)        Unless Custodian has received a Certificate or Instructions to the contrary, Custodian shall hold Securities indirectly through a Subcustodian only if (i) the Securities are not subject to any right, charge, security interest, lien or claim of any kind in favor of such Subcustodian or its creditors or operators, including a receiver or trustee in bankruptcy or similar authority, except for a claim of payment for the safe custody or administration of Securities on behalf of a Fund by such Subcustodian, and (ii) beneficial ownership of the Securities is freely transferable without the payment of money or value other than for safe custody or administration.

 

(c)        With respect to each Depository, Custodian (i) shall exercise due care in accordance with reasonable commercial standards in discharging its duties as a securities intermediary to obtain and thereafter maintain Securities or financial assets deposited or held in such Depository, and (ii) will provide, promptly upon request by a Fund, such reports as are available concerning the internal accounting controls and financial strength of Custodian.

 

(d)        With respect to each Foreign Depository, Custodian shall exercise reasonable care, prudence, and diligence (i) to provide the Fund with an analysis of the custody risks associated with maintaining assets with the Foreign Depository, and (ii) to monitor such custody risks on a continuing basis and promptly notify the Fund of any material change in such risks. The Fund acknowledges and agrees that such analysis and monitoring shall be made on the basis of, and limited by, information gathered from Subcustodians or through publicly available information otherwise obtained by Custodian, and shall not include any evaluation of Country Risks. As used herein the term “Country Risks” shall mean with respect to any Foreign Depository: (a) the financial infrastructure of the country in which it is organized, (b) such country's prevailing custody and settlement practices, (c) nationalization, expropriation or other governmental actions, (d) such country's regulation of the banking or securities industry, (e) currency controls, restrictions, devaluations or fluctuations, and (f) market conditions which affect the order execution of securities transactions or affect the value of securities.

 

2.        Custodian shall furnish the Fund with an advice of daily transactions (including a confirmation of each transfer of Securities) and a monthly summary of all transfers to or from the Accounts.

 

3.        With respect to all Securities held hereunder, Custodian shall, unless otherwise instructed to the contrary:

 

(a)        Receive all income and other payments and advise the Fund as promptly as practicable of any such amounts due but not paid;

 

(b)        Present for payment and receive the amount paid upon all Securities which may mature and advise the Fund as promptly as practicable of any such amounts due but not paid;

 

(c)        Forward to the Fund copies of all information or documents that it may actually receive from an issuer of Securities which, in the opinion of Custodian, are intended for the beneficial owner of Securities;

 

(d)        Execute, as Custodian, any certificates of ownership, affidavits, declarations or other certificates under any tax. laws now or hereafter in effect in connection with the collection of bond and note coupons;

 

(e)        Hold directly or through a Depository, a Foreign Depository, or a Subcustodian all rights and similar Securities issued with respect to any Securities credited to an Account hereunder; and

 

(f)        Endorse for collection checks, drafts or other negotiable instruments.

 

(1)       Custodian shall notify the Fund of rights or discretionary actions with respect to Securities held hereunder, and of the date or dates by when such rights must be exercised or such action must be taken, provided that Custodian has actually received, from the issuer or the relevant Depository (with respect to Securities issued in the United States) or from the relevant Subcustodian, Foreign Depository, or a nationally or internationally recognized bond or corporate action service to which Custodian subscribes, timely notice of such rights or discretionary corporate action or of the date or dates such rights must be exercised or such action must be taken. Absent actual receipt of such notice, Custodian shall have no liability for failing to so notify the Fund.

 

(2)        Whenever Securities (including, but not limited to, warrants, options, tenders, options to tender or non-mandatory puts or calls) confer discretionary rights on the Fund or provide for discretionary action or alternative courses of action by the Fund, the Fund shall be responsible for making any decisions relating thereto and for directing Custodian to act. In order for Custodian to act, it must receive the Fund's Certificate or Instructions at Custodian's offices, addressed as Custodian may from time to time request, not later than noon (New York time) at least two (2) Business Days prior to the last scheduled date to act with respect to such Securities (or such earlier date or time as Custodian may specify to the Fund). Absent Custodian's timely receipt of such Certificate or Instructions, Custodian shall not be liable for failure to take any action relating to or to exercise any rights conferred by such Securities.

 

4.        All voting rights with respect to Securities, however registered, shall be exercised by the Fund or its designee. For Securities issued in the United States, Custodian's only duty shall be to mail to the Fund ally documents (including proxy statements, annual reports and signed proxies) actually received by Custodian relating to the exercise of such voting rights. With respect to Securities issued outside of the United States, the Custodian will use reasonable commercial efforts to facilitate the exercise of voting and other shareholder rights, subject always to the laws, regulations and practical constraints that may exist in the country which such securities are issued. Notwithstanding the foregoing, the Custodian's only duty shall be to provide the Funds with access to a provider of global proxy services at the Fund's request and to coordinate the provision of services between each Fund and the global proxy service provider. The Fund shall be responsible for all costs associated with its use of such services.

 

5.        Custodian shall promptly advise the Fund upon Custodian's actual receipt of notification of the partial redemption, partial payment or other action affecting less than all Securities of the relevant class. If Custodian, any Subcustodian, any Depository, or any Foreign Depository holds any Securities in which the Fund has an interest as part of a fungible mass, Custodian, such Subcustodian, Depository, or Foreign Depository may select the Securities to participate in such partial redemption, partial payment or other action in any non-discriminatory manner that it customarily uses to make such selection.

 

6.        Custodian shall not under any circumstances accept bearer interest coupons which have been stripped from United States federal, state or local government or agency securities unless explicitly agreed to by Custodian in writing. ,

 

7.        The Fund shall be liable for all taxes, assessments, duties and other governmental charges, including any interest or penalty with respect thereto (“Taxes”), with respect to any cash or Securities held on behalf of the Fund or any transaction related thereto. The Fund shall indemnify Custodian and each Subcustodian for the amount of any Tax that Custodian, any such Subcustodian or any other withholding agent is required under applicable laws (whether by assessment or otherwise) to pay on behalf of, or in respect of income earned by or payments or distributions made to or for the account of the Fund (including any payment of Tax required by reason of an earlier failure to withhold). Custodian shall, or shall instruct the applicable Subcustodian or other withholding agent to, withhold the amount of any Tax which is required to be withheld under applicable law upon collection of any dividend, interest or other distribution made with respect to any Security and any proceeds or income from the sale, loan or other transfer of any Security .In the event that Custodian or any Subcustodian is required under applicable law to pay any Tax on behalf of the Fund, Custodian is hereby authorized to withdraw cash from any cash account in the amount required to pay such Tax and to use such cash, or to remit such cash to the appropriate Subcustodian or other withholding agent, for the timely payment of such Tax in the manner required by applicable law. If the aggregate amount of cash in all cash accounts is not sufficient to pay such Tax, Custodian shall promptly notify the Fund of the additional amount of cash (in the appropriate currency) required, and the Fund shall directly deposit such additional amount in the appropriate cash account promptly after receipt of such notice, for use by Custodian as specified herein. In the event that Custodian reasonably believes that Fund is eligible, pursuant to applicable law or to the provisions of any tax treaty, for a reduced rate of, or exemption from, any Tax which is otherwise required to be withheld or paid on behalf of the Fund under any applicable law, Custodian shall, or shall instruct the applicable Subcustodian or withholding agent to, either withhold or pay such Tax at such reduced rate or refrain from withholding or paying such Tax, as appropriate; provided that Custodian shall have received from the Fund all documentary evidence of residence or other qualification for such reduced rate or exemption required to be received under such applicable law or treaty .In the event that Custodian reasonably believes that a reduced rate of, or exemption from, any Tax is obtainable only by means of an application for refund, Custodian and the applicable Subcustodian shall have no responsibility for the accuracy or validity of any forms or documentation provided by the Fund to Custodian hereunder. The Fund hereby agrees to indemnify and hold harmless Custodian and each Subcustodian in respect of any liability arising from any underwithholding or underpayment of any Tax which results from the inaccuracy or invalidity of any such forms or other documentation, and such obligation to indemnify shall be a continuing obligation of the Fund, its successors and assigns notwithstanding the termination of this Agreement.

 

8. (a) For the purpose of settling Securities and foreign exchange transactions, the Fund shall provide Custodian with sufficient immediately available funds for all transactions by such time and date as conditions in the relevant market dictate. As used herein, “sufficient immediately available funds” shall mean either (i) sufficient cash denominated in U .S. dollars to purchase the necessary foreign currency, or (ii) sufficient applicable foreign currency, to settle the transaction. Custodian shall provide the Fund with immediately available funds each day which result from the actual settlement of all sale transactions, based upon advices received by Custodian from Subcustodians, Depositories, and Foreign Depositories. Such funds shall be in U.S. dollars or such other currency as the Fund may specify to Custodian.

 

(b)        Any foreign exchange transaction effected by Custodian in connection with this Agreement may be entered with Custodian or a BNY Affiliate acting as principal or otherwise through customary banking channels. The Fund may issue a standing Certificate or Instructions with respect to foreign exchange transactions, but Custodian may establish roles or limitations concerning any foreign exchange facility made available to the Fund. The Fund shall bear all risks of investing in Securities or holding cash denominated in a foreign currency.

 

9.        Until such time as Custodian receives a certificate to the contrary with respect to a particular Security, Custodian may release the identity of the Fund to an issuer which requests such information pursuant to the Shareholder Communications Act of 1985 for the specific purpose of direct communications between such issuer and shareholder.

 

ARTICLE IV

PURCHASE AND SALE OF SECURITIES;

CREDITS TO ACCOUNT

 

1.        Promptly after each purchase or sale of Securities by the Fund, the Fund shall deliver to Custodian a Certificate or Instructions, or with respect to a purchase or sale of a Security generally required to be settled on the same day the purchase or sale is made, Oral Instructions specifying all information Custodian may reasonably request to settle such purchase or sale. Custodian shall account for all purchases and sales of Securities on the actual settlement date unless otherwise agreed by Custodian,

 

2.        Custodian shall release and deliver securities owned by a Fund which are held by the Custodian or in a Depository account of the Custodian only upon receipt of Instructions, which may be continuing instructions when deemed appropriate by the parties. Unless an Instruction states to the contrary, Custodian shall only release and deliver securities from the account of a Fund upon receipt of payment thereof, In the case of a sale through a Depository, the Custodian shall transfer securities sold for the account of a Fund upon (i) receipt of advice from the Depository that payment for such securities has been transferred to the account of the Custodian at the Depository, and {ii) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the Fund.

 

3.        Upon receipt of Instructions, which may be continuing instructions when deemed appropriate by the parties, the Custodian shall payout moneys of a Fund upon the purchase of securities for the account of the Fund against the delivery of such securities to the Custodian. In the case of a purchase effected through a Depository the Custodian shall pay for securities purchased for the account of each Fund upon (i) receipt of advice from the Depository that such securities have been transferred to the account of the Custodian at the Depository, and (ii) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Fund.

 

4.        Custodian may, as a matter of bookkeeping convenience or by separate agreement with the Fund, credit the Account with the proceeds from the sale, redemption or other disposition of Securities or interest, dividends or other distributions payable on Securities prior to its actual receipt of final payment therefor. All such credits shall be conditional until Custodian's actual receipt of final payment and may be reversed by Custodian to the extent that final payment is not received. Payment with respect to a transaction will not be “final” until Custodian shall have received immediately available funds which under applicable local law, rule and/or practice are irreversible and not subject to any security interest, levy or other encumbrance, and which are specifically applicable to such transaction.

 

ARTICLE V

OVERDRAFTS OR INDEBTEDNESS

 

1.        See Second Amendment, dated 9/5/08. If Custodian should in its sole discretion advance funds on behalf of any Fund which results in an overdraft {this shall specifically not include any day-light overdraft) because the money held by Custodian in an Account for such Fund shall be insufficient to pay the total amount payable upon a purchase of Securities specifically allocated to such Fund, as set forth ill a Certificate, Instructions or Oral Instructions, or if an overdraft arises in the separate account of a Fund for some other reason, including, without limitation, because of a reversal of a conditional credit or the purchase of any currency, or if the Fund is for any other reason indebted to Custodian with respect to a Fund due to a borrowing from a Fund from the Custodian, (except a borrowing for investment or for temporary or emergency purposes using Securities as collateral pursuant to a separate agreement and subject to the provisions of Section 2 of this Article), such overdraft or indebtedness shall be deemed to be a loan made by Custodian to the Fund for such Fund payable on demand and shall bear interest from the date incurred at a rate per annum as disclosed on the Fee Schedule between the Funds and Custodian, as such Fee Exhibit may be amended from time to time. In addition, the Fund hereby agrees that Custodian shall to the maximum extent permitted by law have a continuing lien, security interest, and security entitlement in and to any property, including, without limitation, any investment property or any financial asset, of such Fund at any time held by Custodian for the benefit of such Fund or in which such Fund may have an interest (which is then in Custodian's possession or control or in possession or control of any third party acting in Custodian's behalf. The Fund authorizes Custodian, in its sole discretion, at any time to charge any such overdraft or indebtedness together with interest due thereon against any balance of account standing to such Fund's credit on Custodian's books. Notwithstanding, anything in this Agreement to the contrary, provided that Custodian and a Fund are parties to a Custodial Undertaking in Connection with Master Repurchase Agreement or a Subcustodial Undertaking in Connection with Master Repurchase Agreement (collectively the “Custodial Undertakings”), Custodian agrees that any securities held by Custodian in connection with a repurchase agreement entered into by such Fund and subject to the Custodial Undertakings shall not be subject to any security interest, lien or right of setoff by Custodian or any third pep claiming through Custodian and Custodian shall not pledge, encumber, hypothecate, transfer, dispose of, or otherwise grant any third party an interest in, any such securities.

 

2.        If the Fund borrows money from any bank (including Custodian if the borrowing is pursuant to a separate agreement) for investment or for temporary or emergency purposes using Securities held by Custodian hereunder as collateral for such borrowings, the Fund shall deliver to Custodian a Certificate specifying with respect to each such borrowing: (a) the Fund to which such borrowing relates; (b) the name of the bank, (c) the amount of the borrowing, (d) the time and date, if known, on which the loan is to be entered into, (e) the total amount payable to the Fund on the borrowing date, (f) the Securities to be delivered as collateral for such loan, including the name of the issuer, the title and the number of shares or the principal amount of any particular Securities, and (g) a statement specifying whether such loan is for investment purposes or for temporary or emergency purposes and that such loan is in conformance with the '40 Act and the Fund's prospectus. Custodian shall deliver on the borrowing date specified in a Certificate the specified collateral against payment by the lending bank of the total amount of the loan payable, provided that the same conforms to the total amount payable as set forth in the Certificate. Custodian may, at the option of the lending bank, keep such collateral in its possession, but such collateral shall be subject to all rights therein given the lending bank by virtue of any promissory note or loan agreement. Custodian shall deliver such Securities as additional collateral as may be specified in a Certificate to collateralize further any transaction described in this Section. The Fund shall cause all Securities released from collateral status to be returned directly to Custodian, and Custodian shall receive from time to time such return of collateral as may be tendered to it. In the event that the Fund fails to specify in a Certificate the Fund, the name of the issuer, the title and number of shares or the principal amount of any particular Securities to be delivered as collateral by Custodian, Custodian shall not be under any obligation to deliver any Securities.

 

 
 

ARTICLE VI

SALE AND REDEMPTION OF SHARES

 

1.        Whenever the Fund shall sell any shares issued by the Fund (“Shares”) it shall deliver to Custodian a Certificate or, Instructions specifying the amount of money and/or Securities to be received by Custodian for the sale of such Shares and specifically allocated to an Account for such Fund.

 

2.        Upon receipt of such money, Custodian shall credit such money to an Account in the name of the Fund for which such money was received.

 

3.        Except as provided hereinafter, whenever the Fund desires Custodian to make payment out of the money held by Custodian hereunder in connection with a redemption of any Shares, it shall furnish to Custodian a Certificate or Instructions specifying the total amount to be paid for such Shares. Custodian shall make payment of such total amount to the transfer agent specified in such Certificate or Instructions out of the money held in an Account of the appropriate Fund.

 

4.        Notwithstanding the above provisions regarding the redemption of any Shares, whenever any Shares are redeemed pursuant to any check redemption privilege which may from time to time be offered by the Fund, Custodian, unless otherwise instructed by a Certificate or Instructions, shall, upon presentment of such check;, charge the amount thereof against the money held in the Account of the Fund of the Shares being redeemed, provided, that if the Fund or its agent timely advises Custodian that such check is not to be honored, Custodian shall return such check unpaid.

 

ARTICLE VII

PAYMENT OF DIVIDENDS OR DISTRIBUTIONS

 

1.        Whenever the Fund shall determine to pay a dividend or distribution on Shares it shall furnish to Custodian Instructions or a Certificate setting forth with respect to the Fund specified therein the date of the declaration of such dividend or distribution, the total amount payable, and the payment date.

 

2.        Upon the payment date specified in such Instructions or Certificate, Custodian shall payout of the money held for the account of such Fund the total amount payable to the dividend agent of the Fund specified therein.

 

ARTICLE VIII

CONCERNING CUSTODIAN

 

1. (a) The Custodian shall be held to a standard of reasonable care in carrying out the provisions of this Agreement; provided, however, that the Custodian shall be held to different standard of care of imposed by any other provision of this Agreement or imposed upon Custodian by any applicable law or regulation, which by its terms cannot be contractually modified or waived. Except as otherwise expressly provided herein, Custodian shall not be liable for any costs, expenses, damages, liabilities or claims, including attorneys' and accountants' fees (collectively, “Losses”), incurred by or asserted against the Fund, except those Losses arising out of Custodian's own negligence or willful misconduct. Custodian shall have no liability whatsoever for the action or inaction of any Depositories or of any Foreign Depositories, except in each case to the extent such action or inaction is a direct result of the Custodian' s failure to fulfill its duties hereunder. With respect to any Losses incurred by the Fund as a result of the acts or any failures to act by any Subcustodian (other than a BNY Affiliate), Custodian shall take appropriate action to recover such Losses from such Subcustodian; and Custodian's sole responsibility and liability to the Fund shall be limited to amounts so received from such Subcustodian ( exclusive of costs and expenses incurred by Custodian). In no event shall Custodian be liable to the Fund or any third party for special, indirect or consequential damages, or lost profits or loss of business, arising in connection with this Agreement, nor shall Custodian or any Subcustodian be liable: (i) for acting in accordance with any Certificate or Oral Instructions actually received by Custodian and reasonably believed by Custodian to be given by an Authorized Person; (ii) for acting in accordance with Instructions without reviewing the same; (iii) for conclusively presuming that all Instructions are given only by person(s) duly authorized; (00 for conclusively presuming that all disbursements of cash directed by the Fund, whether by a Certificate, an Oral Instruction, or an Instruction, are in accordance with Section 2(i) of Article II hereof; (y) for holding property in any particular country, including, but not limited to, Losses resulting from nationalization, expropriation or other governmental actions; regulation of the banking or securities industry; exchange or currency controls or restrictions, devaluations or fluctuations; availability of cash or Securities or market conditions which prevent the transfer of property or execution of Securities transactions or affect the value of property; (yi) for any Losses due to forces beyond the control of Custodian, including without limitation strikes, work stoppages, acts of war or terrorism, insurrection, revolution, nuclear or natural catastrophes or acts of God, or interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; (yii) for the insolvency of any Subcustodian (other than a BNY Affiliate), any Depository, or, except to the extent such action or inaction is a direct result of the Custodian's failure to fulfill its duties hereunder, any Foreign Depository; or (yiii)l for any Losses arising from the applicability of any law or regulation now or hereafter in effect, or from the occurrence of any event, including, without limitation, implementation or adoption of any rules or procedures of a Foreign Depository, which may affect, limit prevent or impose costs or burdens on, the transferability, convertibility, or availability of any currency or Composite Currency Unit in any country or on the transfer of any Securities, and in no event shall Custodian be obligated to substitute another currency for a currency (including a currency that is a component of a Composite Currency Unit) whose transferability, convertibility or availability has been affected, limited, or prevented by such law, regulation or event and to the extent that any such law, regulation or event imposes a cost or charge upon Custodian in relation to the transferability, convertibility, or availability of any cash currency or Composite Currency Unit, such cost or charge shall be for the account of the Fund, and Custodian may treat any account denominated in an affected currency as a group of separate accounts denominated in the relevant component currencies.

 

(b)        Custodian may enter into subcontracts, agreements and understandings with any BNY Affiliate, whenever and on such terms and conditions as it deems necessary or appropriate to perform its services hereunder. No such subcontract, agreement or understanding shall discharge Custodian from its obligations hereunder.

 

(c)        The Fund agrees to indemnify Custodian and hold Custodian harmless from and against any and all Losses sustained or incurred by or asserted against Custodian by reason of or as a result of any action or inaction, or arising out of Custodian's performance hereunder, including reasonable fees and expenses of counsel incurred by Custodian in a successful defense of claims by the Fund; provided however, that the Fund shall not indemnify Custodian for those Losses arising out of Custodian's own negligence or willful misconduct. This indemnity shall be a continuing obligation of the Fund, its successors and assigns, notwithstanding the termination of this Agreement.

 

2.        Without limiting the generality of the foregoing, Custodian sep be under no obligation to inquire into, and shall not be liable for:

 

(a)        Any Losses incurred by the Fund or any other person as a result of the receipt or acceptance of fraudulent, forged or invalid Securities, or Securities which are otherwise not freely transferable or deliverable without encumbrance in any relevant market;

 

(b)        The validity of the issue of any Securities purchased, sold, or written by or for the Fund, the legality of the purchase, sale or writing thereof, or the propriety of the amount paid or received therefor;

 

(c)        The legality of the sale or redemption of any Shares, or the propriety of the amount to be received or paid therefor;

 

(d)        The legality of the declaration or payment of any dividend or distribution by the Fund;

 

(e)        The legality of any borrowing by the Fund;

 

(f)        The legality of any loan of portfolio Securities, nor shall Custodian be under any duty or obligation to see to it that any cash or collateral delivered to it by a broker, dealer or financial institution or held by it at any time as a result of such loan of portfolio Securities is adequate security for the Fund against any loss it might sustain as a result of such loan, which duty or obligation shall be the sole responsibility of the Fund. In addition, Custodian shall be under no duty or obligation to see that any broker, dealer or financial institution to which portfolio Securities of the Fund are lent makes payment to it of any dividends or interest which are payable to or for the account of the Fund during the period of such loan or at the termination of such loan, provided, however that Custodian shall promptly notify the Fund in the event that such dividends or interest are not paid and received when due;

 

(g)        The sufficiency or value of any amounts of money and/or Securities held in any Special Account in connection with transactions by the Fund; whether any broker, dealer, futures commission merchant or clearing member makes payment to the Fund of any variation margin payment or similar payment which the Fund may be entitled to receive from such broker, dealer, futures commission merchant or clearing member, or whether any payment received by Custodian from any broker, dealer, futures commission merchant or clearing member is the amount the Fund is entitled to receive, or to notify the Fund of Custodian's receiptor non-receipt of any such payment; or

 

(h)        Whether any Securities at any time delivered to, or held by it or by any Subcustodian, for the account of a Fund are such as properly may be held by the Fund under the provisions of its then current prospectus and statement of additional information, or to ascertain whether any transactions by the Fund, whether or not involving Custodian, are such transactions as may properly be engaged in by the Fund.

 

3.        Custodian may, with respect to questions of law specifically regarding an Account, obtain the advice and opinion of counsel to the independent trustees of a Fund or other counsel that is mutually agreed upon by the Funds and the Custodian and shall be fully protected with respect to anything done or omitted by it in good faith in conformity with such advice.

 

4.        Custodian shall be under no obligation to take action to collect any amount payable on Securities in default, or if payment is refused after due demand and presentment.

 

5.        Custodian shall have no duty or responsibility to inquire into, make recommendations, supervise, or determine the suitability of any transactions affecting any Account.

 

6.        The Fund shall pay to Custodian the fees and charges as may be specifically agreed upon from time to time and such other fees and charges at Custodian's standard rates for such services as maybe applicable. The Fund shall reimburse Custodian for all costs associated with the conversion of the Fund's Securities hereunder and the transfer of Securities and records kept in connection with this Agreement. The Fund shall also reimburse Custodian, at cost, for out-of-pocket expenses which are a normal incident of the services provided hereunder.

 

7.        Custodian has the right to debit any cash account for any amount payable by the Fund in connection with any and all obligations of the Fund to Custodian. In addition to the rights of Custodian under applicable law and other agreements, at any time when the Fund shall not have honored any of its obligations to Custodian, Custodian shall have the right without notice to the Fund to retain or set-off, against such obligations of the Fund, any Securities or cash Custodian or a BNY Affiliate may directly or indirectly hold for the account of the Fund, and any obligations (whether matured or unmatured) that Custodian or a BNY Affiliate may have to the Fund in any currency or Composite Currency Unit. Any such asset of, or obligation to, the Fund may be transferred to Custodian and any BNY Affiliate in order to effect the above rights.

 

8.        The Fund agrees to forward to Custodian a Certificate or Instructions confirming Oral Instructions by the close of business of the same day that such Oral Instructions are given to Custodian. The Fund agrees that the fact that such confirming Certificate or Instructions are not received or that a contrary Certificate or contrary Instructions are received by Custodian shall in no way affect the validity or enforceability of transactions authorized by such Oral Instructions and effected by Custodian. If the Fund elects to transmit Instructions through an on-line communications system offered by Custodian, the Fund's use thereof shall be subject to the Terms and Conditions attached as Appendix J hereto, and Custodian shall provide user and authorization codes, passwords and authentication keys only to an Authorized Person or a person reasonably believed by Custodian to be an Authorized Person.

 

9.        The books and records pertaining to the Fund which are in possession of Custodian shall be the property of the Fund. Such books and records shall be prepared and maintained as required by the '40 Act and the rules thereunder. The Fund, or its authorized representatives, shall have access to such books and records during Custodian's normal business hours. Upon the reasonable request of the Fund, copies of any such books and records shall be provided by Custodian to the Fund or its authorized representative. Upon the reasonable request of the Fund, Custodian shall provide in hard copy or on computer disc any records included in any such delivery which are maintained by Custodian on a computer disc, or are similarly maintained.

 

10.        It is understood that Custodian is authorized to supply any information regarding the Accounts which is required by any law, regulation or rule now or hereafter in effect. The Custodian shall provide the Fund with any report obtained by the Custodian on the system of internal accounting control of a Depository, and with such reports on its own system of internal accounting control as the Fund may reasonably request from time to time.

 

11.        Custodian shall have no duties or responsibilities whatsoever except such duties and responsibilities as are specifically set forth in this Agreement, and no covenant or obligation shall be implied against Custodian in connection with this Agreement.

 

ARTICLE IX

TERMINATION

 

1.        Either of the parties hereto may terminate this Agreement by giving to the other party a notice in writing specifying the date of such termination, which shall be not less than ninety (90) days after the date of giving of such notice. In the event such notice is given by the Fund, it shall be accompanied by a copy of a resolution of the board of the Fund, certified by the Secretary or any Assistant Secretary, electing to terminate this Agreement and designating a successor Custodian or Custodians, each of which shall be a bank or trust company having not less than $2,000,000 aggregate capital, surplus and undivided profits. In the event such notice is given by Custodian, the Fund shall, on or before the termination date, deliver to Custodian a copy of a resolution of the board of the Fund, certified by the Secretary or any Assistant Secretary, designating a successor Custodian or Custodians. In the absence of such designation by the Fund, Custodian may designate a successor Custodian which shall be a bank or trust company having not less than $2,000,000 aggregate capital, surplus and undivided profits. Upon the date set forth in such notice this Agreement shall terminate, and Custodian shall upon receipt of a notice of acceptance by the successor Custodian on that date deliver directly to the successor Custodian all Securities and money then owned by the Fund and held by it as Custodian, after deducting an fees, expenses and other accounts for the payment or reimbursement of which it shall then be entitled.

 

2.        If a successor Custodian is not designated by the Fund or Custodian in accordance with the preceding Section, the Fund shall upon the date specified in the notice of termination of this Agreement and upon the delivery by Custodian of all Securities (other than Securities which cannot be delivered to the Fund) and money then owned by the Fund be deemed to be its own Custodian and Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities which cannot be delivered to the Fund to hold such Securities hereunder in accordance with this Agreement.

 

ARTICLE X

MISCELLANEOUS

 

1.        The Fund agrees to furnish to Custodian a new Certificate of Authorized Persons in the event of any change in the then present Authorized Persons. Until such new Certificate is received, Custodian shall be fully protected in acting upon Certificates or Oral Instructions of such present Authorized Persons.

 

2.        Any notice or other instrument in writing, authorized or required by this Agreement to be given to Custodian, shall be sufficiently given if addressed to Custodian and received by it at its offices at One Wall Street, New York, New York 10286, or at such other place as Custodian may from time to time designate in writing.

 

3.        Any notice or other instrument in writing, authorized or required by this Agreement to be given to the Fund shall be sufficiently given if addressed to the Fund and received by it at its offices at 5800 Corporate Drive, Pittsburgh PA, J5237-7000 or at such other place as the Fund may from time to time designate in writing.

 

4.        Each and every right granted to either party hereunder or under any other document delivered hereunder or in connection herewith, or allowed it by law or equity, shall be cumulative and may be exercised from time to time. No failure on the part of either party to exercise, and no delay in exercising, any right will operate as a waiver thereof, nor will any single or partial exercise by either party of any right preclude any other or future exercise thereof or the exercise of any other right.

 

5.        In case any provision in or obligation under this Agreement shall be invalid, illegal or unenforceable in any exclusive jurisdiction, the validity, legality and enforceability of the remaining provisions shall not in any way be affected thereby. This Agreement may not be amended or modified in any manner except by a written agreement executed by both parties, except that any amendment to the Schedule I hereto need be signed only by the Fund and any amendment to Appendix I hereto need be signed only by Custodian. This Agreement shall extend to and shall be binding upon the parties hereto, and their respective successors and assigns; provided, however, that this Agreement shall not be assignable by either party without the written consent of the other.

 

6.        This Agreement shall be construed in accordance with the substantive laws of the State of New York, without regard to conflicts of laws principles thereof. The Fund and Custodian hereby consent to the jurisdiction of a state or federal court situated in New York City, New York in connection with any dispute arising hereunder. The Fund hereby irrevocably waives, to the fullest extent permitted by applicable law, any objection which it may now or hereafter have to the laying of venue of any such proceeding brought in such a court and any claim that such proceeding brought in such a court has been brought in an inconvenient forum. The Fund and Custodian each hereby irrevocably waives any and all rights to trial by jury in any legal proceeding arising out of or relating to this Agreement.

 

7.        This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but such counterparts shall, together, constitute only one instrument.

 

8.        The Custodian is expressly put on notice of the limitation of liability as set forth in the Declaration of Trust of those registered investment companies which are business trusts and agrees that the obligations and liabilities assumed by a registered investment company or any Series pursuant to this Agreement, including, without limitation, any obligation or liability to indemnify the Custodian, shall be limited in any case to the relevant Fund and its assets and that the Custodian shall not seek satisfaction of any such obligation from the shareholders of the relevant Fund, from any other Fund or its shareholders or from the Trustees, Officers, employees or agents of the registered investment company or Series, or any of them. In addition, in connection with the discharge and satisfaction of any claim made by the Custodian involving more than one Fund, the Trustees or Officers of such Funds shall have the exclusive right to determine the appropriate allocations of liability for any claim between or among the Funds.

 

9.        The Bank hereby represents and warrants that it has implemented and shall maintain appropriate measures designed to satisfy the requirements of federal and New York law applicable to the Bank with respect to the confidentiality of the portfolio holdings and transactions of each Fund. Upon request, the Bank shall annually make available to each Fund such summaries or audit reports, including any SAS 70 report, as the Bank generally makes available to its similar customers.

See Tenth Amendment dated 3/25/11 for new Article XI

 

IN WITNESS WHEREOF, the Funds and Custodian have caused this Agreement to be executed by their respective officers, thereunto duly authorized, as of the day and year first above written.

 

Each of the registered investment companies or series thereof listed on Schedule II to this Agreement

 

 

By: /s/ Richard J. Thomas

Title: Treasurer

 

THE BANK OF NEW YORK

 

 

By: /s/ Edward G. McGann

Title: EDWARD G. McGANN

MANAGING DIRECTOR

 
 

SCHEDULE I

CERTIFICATE OF AUTHORIZED PERSONS

 

 

[          ]

 

 
 

See Amendment dated 11/8/07

 

SCHEDULE II

 

Federated Capital Reserves Fund a portfolio of Money Market Obligations Trust

 

Federated Government Reserves Fund a portfolio of Money Market Obligations Trust

 

Federated Municipal Trust a portfolio of Money Market Obligations Trust

 
 

APPENDIX I

 

THE BANK OF NEW YORK

 

ON-LINE COMMUNICATIONS SYSTEM (THE “SYSTEM”)

 

TERMS AND CONDITIONS

 

1.       License; Use. Upon delivery to an Authorized Person or a person reasonably believed by Custodian to be an Authorized Person of the Fund of software enabling the Fund to obtain access to the System (the “Software”), Custodian grants to the Fund a personal, nontransferable and nonexclusive license to use the Software solely for the purpose of transmitting Written Instructions, receiving reports, making inquiries or otherwise communicating with Custodian in connection with the Account(s). The Fund shall use the Software solely for its own internal and proper business purposes and not in the operation of a service bureau. Except as set forth herein, no license or right of any kind is granted to the Fund with respect to the Software. The Fund acknowledges that Custodian and its suppliers retain and have title and exclusive proprietary rights to the Software, including any trade secrets or other ideas, concepts, know-how, methodologies, or information incorporated therein and the exclusive rights to any copyrights, trademarks and patents (including registrations and applications for registration of either), or other statutory or legal protections available in respect thereof. The Fund further acknowledges that all or a part of the Software may be copyrighted or trademarked (or a registration or claim made therefor) by Custodian or its suppliers. The Fund shall not take any action with respect tot the Software inconsistent with the foregoing acknowledgement, nor shall the Fund attempt to decompile, reverse engineer or modify the Software. The Fund may not coy, sell, lease or provide, directly or indirectly, any of the Software of any portion thereof to any other person or entity without Custodian’s prior written consent. The Fund may not remove any statutory copyright notice or other notice included in the Software or on any media containing the Software. The Fund shall reproduce any such notice on any reproduction of the Software and shall add any statutory copyright notice or other notice to the Software or media upon Custodian’s request.

 

2.       Equipment. The Fund shall obtain and maintain at its own cost and expense all equipment and services, including but not limited to communications services, necessary for it to utilize the Software and obtain access to the System, and Custodian shall not be responsible for the reliability or availability of any such equipment or services.

 

3.       Proprietary Information. The Software, any data base and any proprietary data, processes, information and documentation made available to the Fund (other than which are or become part of the public domain or are legally required to be made available to the public) (collectively, the “Information”), are the exclusive and confidential property of Custodian or its suppliers. The Fund shall keep the Information confidential by using the same care and discretion that the Fund uses with respect to its own confidential property and trade secrets, but not less than reasonable care. Upon termination of the Agreement or the Software license granted herein for any reason, the Fund shall return to Custodian any and all copies of the Information which are in its possession or under its control.

 

4.       Modifications. Custodian reserves the right to modify the Software from time to time and the Fund shall install new releases of the Software as Custodian may direct. The Fund agrees not to modify or attempt to modify the Software without the Custodian’s prior written consent. The Fund acknowledges that any modifications to the Software, whether by the Fund or Custodian and whether with or without Custodian’s consent, shall become the property of Custodian.

 

5.       NO REPRESENTATIONS OR WARRANTIES. CUSTODIAN AND ITS MANUFACTURERS AND SUPPLIERS MAKE NO WARRANTIES OR REPRESENTATIONS WITH RESPECT TO THE SOFTWARE, SERVICES OR ANY DATABASE, EXPRESS OR IMPLIED, IN FACT OR IN LAW, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. THE FUND ACKNOWLEDGES THAT THE SOFTWARE, SERVICES AND ANY DATABASE ARE PROVIDED “AS IS.” IN NO EVENT SHALL CUSTODIAN OR ANY SUPPLIER BE LIABLE FOR ANY DAMAGES, WHETHER DIRECT, INDIRECT SPECIAL, OR CONSEQUENTIAL, WHICH THE FUND MAY INCUR IN CONNECTION WITH THE SOFTWARE, SERVICES OR ANY DATABASE, EVEN IF CUSTODIAN OR SUCH SUPPLIER HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN NO EVENT SHALL CUSTODIAN OR ANY SUPPLIER BE LIABLE FOR ACTS OF GOD, MACHINE OR COMPUTER BREAKDOWN OR MALFUNCTION, INTERRUPTION OR MALFUNCTION OF COMMUNICATION FACILITIES, LABOR DIFFICULTIES OR ANY OTHER SIMILAR OR DISSIMILAR CAUSE BEYOND THEIR REASONABLE CONTROL.

 

6.       Security; Reliance; Unauthorized Use. The Fund will cause all persons utilizing the Software and System to treat all applicable user and authorization codes, passwords and authentication keys with extreme care, and it will establish internal control and safekeeping procedures to restrict the availability of the same to persons duly authorized to give Instructions. Custodian is hereby irrevocably authorized to act in accordance with and rely on Instructions received by it through the System. The Fund acknowledges that it is its sole responsibility to assure that only persons duly authorized use the System and that Custodian shall not be responsible nor liable for any unauthorized use thereof.

 

7.       System Acknowledgements. Custodian shall acknowledge through the System its receipt of each transmission communicated through the System, and in the absence of such acknowledgment Custodian shall not be liable for any failure to act in accordance with such transmission and the Fund may not claim that such transmission was received by Custodian.

 

8.       EXPORT RESTRICTIONS. EXPORT OF THE SOFTWARE IS PROHIBITED BY UNITED STATES LAW. THE FUND MAY NOT UNDER ANY CIRCUMSTANCES RESELL, DIVERT, TRANSFER, TRANSSHIP OR OTHERWISE DISPOSE OF THE SOFTWARE (IN ANY FORM) IN OR TO ANY OTHER COUNTRY. IF CUSTODIAN DELIVERED THE SOFTWARE TO THE FUND OUTSIDE OF THE UNITED STATES, THE SOFTWARE WAS EXPORTED FROM THE UNITED STATES IN ACCORDANCE WITH THE EXPORTER ADMINISTRATION REGULATIONS. DIVERSION CONTRARY TO U.S. LAW IS PROHIBITED. The Fund hereby authorizes Custodian to report its name and address to government agencies to which Custodian is required to provide such information by law.

 

9.       ENCRYPTION. The Fund acknowledges and agrees that encryption may not be available for every communication through the System, or for all data. The Fund agrees that Custodian may deactivate any encryption features at any time, without notice or liability to the Fund, for the purpose of maintaining, repairing or troubleshooting the System or the Software.

 
 

JOINT TRADING ACCOUNT CUSTODY AGREEMENT

 

(Repurchase Transactions)

 

Agreement made as of June 7, 2005, between the Funds listed on Schedule I hereto (individually, a “Fund”; collectively, the “Funds”) and The Bank of New York (the “Custodian”).

 

WITNESSETH

 

WHEREAS, Custodian is presently the custodian for each Fund pursuant to a separate custody agreement between such Funds and Custodian (each, a “Custody Agreement”; collectively, the “Custody Agreements”); and

 

WHEREAS, the Funds are permitted to enter into repurchase transactions through joint trading accounts; and

 

WHEREAS, Custodian is willing to act as custodian of the assets of each Fund maintained in joint trading accounts in accordance with the Custody Agreements and this Agreement; and

 

WHEREAS, all capitalized terms used by not defined herein shall have the meanings given them in the Custody Agreements;

 

NOW, THEREFORE, in consideration of the mutual promises hereinafter set forth, the parties agree as follows:

 

1.       The Funds hereby request Custodian to establish and maintain certain joint trading accounts (the “Joint Trading Accounts”) to be used by the Funds for the purpose of engaging in repurchase transactions. Custodian agrees to establish and maintain the Joint Trading Accounts and hold cash transferred to the Joint Trading Account as provided herein.

 

2.       On each business day that Funds intend to enter into repurchase transactions through a Joint Trading Account, an Authorized Person shall on behalf of the applicable Funds deliver to Custodian a Certificate or Written Instructions disclosing each Fund’s interest in the monies transferred to each Joint Trading Account. Upon transfer on monies from the Joint Trading Account against receipt of securities into Joint Trading Account or a similar Joint Trading Account established by a subcustodial bank pursuant to repurchase transactions (“Repo Assets”), Custodian shall confirm to each Fund the purchase of its proportionate interest in the Repo Assets, and shall identify such interest in Custodian’s books and records as belonging to such Fund by including the Funds’ Certificate or Written Instructions in the books and records of all appropriate Funds or otherwise. The following business day Custodian shall transfer the monies received upon completion of repurchase transactions from each Joint Trading Account or from a similar Joint Trading Account established at a bank pursuant to a Subcustodial Undertaking in connection with a Master Repurchase Agreement, plus any accrued income received, to each Fund’s Account in proportion to such Fund’s interest in such repurchase transactions.

 

3.       If Custodian in its sole discretion advances funds, or if there shall arise for whatever reason an overdraft or other indebtedness in connection with a Joint Trading Account, such advance, overdraft or indebtedness shall be deemed a loan made by Custodian to a Fund to which such advance, overdraft or indebtedness relates, payable on demand and bearing interest pursuant to the terms of such Fund’s Custody Agreement with Custodian. The Funds agree to furnish to Custodian promptly (and in any event by the close of business on the day of such advance, overdraft or indebtedness) with a Certificate or Written Instructions identifying each Fund to which such advance, overdraft or indebtedness relates, and the amount allocable to such Fund. In order to secure repayment of each Fund’s indebtedness to Custodian hereunder, each Fund hereby agrees that Custodian shall have a continuing lien and security interest in and to any property at any time held by it for the benefit of the Fund either hereunder or under Such Fund’s Custody Agreement with Custodian, or in which the Fund may have an interest which is then in Custodian’s possession or control or in possession or control of any third party acting in Custodian’s behalf, including in its behalf as Custodian under the Fund’s Custody Agreement with Custodian. Each Fund authorizes Custodian, in its sole discretion, at any time to charge any advance, overdraft or indebtedness together with interest due thereon against any balance of accounts standing to the Fund’s credit on the books of Custodian, including those books maintained by Custodian in its capacity as Custodian for the Fund under is Custody Agreement with the Fund. Notwithstanding, anything in this Agreement to the contrary, provided that Custodian and a Fund are parties to a Custodial Undertaking in Connection with Master Repurchase Agreement (collectively, the “Custodial Undertakings”), Custodian agrees that any securities held by Custodian in connection with a repurchase agreement entered into by such Fund and subject to the Custodian Undertakings shall not be subject to any security interest, lien or right of setoff by Custodian or any third party claiming through Custodian and Custodian shall not pledge, encumber, hypothecate, transfer, dispose of, or otherwise grant any third party an interest in, any such securities.

 

3.       It is expressly understood and agreed that in performing hereunder, Custodian is relying solely upon information contained in Certificates and Written Instructions received by it from time to time, has no independent knowledge of the terms and conditions of any repurchase transactions entered by or on behalf of any Funds, and shall have no duty to inquire into any of such terms and conditions nor any valuation responsibilities (including mark-to-market) with regard to securities and monies which are the subject of repurchase transactions hereunder. Custodian’s sole responsibility in settling transactions through the Joint Trading Account shall be to receive and deliver securities and monies in accordance with instructions contained in Certificates and Written Instructions and to comply with paragraph 2 of this Agreement.

 

4.       Each Fund hereby represents and warrants, which representations and warranties shall be continuing and shall be deemed to be reaffirmed upon each instruction given by each Fund, that

 

(a)       its execution and delivery of this Agreement and its performance hereunder has been duly authorized by its Board of Directors or Board of Trustees (as the case may be) and constitutes is several, but not joint, binding obligation;

 

(b)       the person or persons executing this Agreement on its behalf has and have been duly and properly authorized to do so;

 

(c)       upon allocation of any advance, overdraft or indebtedness to its account pursuant to paragraph 2 above, its total borrowings from all sources (including Custodian) shall be in conformity with the requirements and limitations set forth in the Investment Company Act of 1940, as amended, and its Prospectus.

 

5.       This Agreement is supplemental to the Custody Agreement between Custodian and each Fund and the assets of each Fund shall be maintained and administered by Custodian subject to the terms and conditions of the Custody Agreement. In the event of any conflict between the terms and conditions of this Agreement and the Custody Agreement of any Fund, the terms and conditions of this Agreement shall govern and control.

 

6.       This Agreement shall be construed in accordance with the laws of the State of New York without giving effect to the conflict of law principles thereof. This Agreement may not be amended or modified in any manner except by a written instrument executed by each Fund and Custodian. This Agreement may be terminated with respect to any Fund by either Custodian or such Fund upon thirty (30) days prior written notice.

 

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their respective officers, thereunto duly authorized, as of the day and year first above written.

 

By: /s/ Richard J. Thomas

On behalf of each Fund listed on
Schedule I hereto

Title: Treasurer

 

THE BANK OF NEW YORK

 

By: /s/ Edward G. McGann

Title: Managing Director

 
 

See Amendment dated 11/8/07

 

SCHEDULE I

 

Federated Capital Reserves Fund a portfolio of Money Market Obligations Trust

 

Federated Government Reserves Fund a portfolio of Money Market Obligations Trust

 

Federated Municipal Trust a portfolio of Money Market Obligations Trust

 
 

JOINT TRADING ACCOUNT

 

REPURCHASE TRANSACTION CONFIRMATION

 

 

The Bank of New York hereby confirms the purchase by each Fund identified in the attached Certificate of its proportionate share of an undivided interest in the securities transferred to the Joint Trading Account # , as such interests are set forth in the attached Certificate.

 

 

Date:

 

THE BANK OF NEW YORK

 

 

 

By:

(Authorized Signature)

 
 

EXHIBIT C

 

FOREIGN CUSTODY MANAGER AGREEMENT

AGREEMENT made as of November 8, 2007 between the Funds listed on Schedule I to this Agreement (the “Funds”) and The Bank of New York (“BNY”).

W I T N E S S E T H:

WHEREAS, the Funds desire to appoint BNY as a Foreign Custody Manager on the terms and conditions contained herein;

WHEREAS, BNY desires to serve as a Foreign Custody Manager and perform the duties set forth herein on the terms and conditions contained herein;

NOW THEREFORE, in consideration of the mutual promises hereinafter contained in this Agreement, the Funds and BNY hereby agree as follows:

ARTICLE I
DEFINITIONS

Whenever used in this Agreement, the following words and phrases, unless the context otherwise requires, shall have the following meanings:

1.“Board” shall mean the board of directors or board of trustees, as the case may be, of the Funds.
2.“Eligible Foreign Custodian” shall have the meaning provided in the Rule.
3.“Monitoring System” shall mean a system established by BNY to fulfill the Responsibilities specified in clauses (d) and (e) of Section 1 of Article III of this Agreement.
4.“Responsibilities” shall mean the responsibilities delegated to BNY under the Rule as a Foreign Custody Manager with respect to each Specified Country and each Eligible Foreign Custodian selected by BNY, as such responsibilities are more fully described in Article III of this Agreement.
5.“Rule” shall mean Rule 17f-5 under the Investment Company Act of 1940, as amended.
6.“Specified Country” shall mean each country listed on Schedule II attached hereto and each country, other than the United States, constituting the primary market for a security with respect to which the Funds has given settlement instructions to The Bank of New York as custodian (the “Custodian”) under its Custody Agreement with the Funds.

ARTICLE II
BNY AS A FOREIGN CUSTODY MANAGER

1.      The Funds on behalf of its Board hereby delegate to BNY with respect to each Specified Country the Responsibilities.

2.      BNY accepts the Board’s delegation of Responsibilities with respect to each Specified Country and agrees in performing the Responsibilities as a Foreign Custody Manager to exercise reasonable care, prudence and diligence such as a person having responsibility for the safekeeping of the Funds’ assets would exercise.

3.      BNY shall provide to the Board at such times as the Board deems reasonable and appropriate based on the circumstances of the Funds’ foreign custody arrangements written reports notifying the Board of the placement of assets of the Funds with a particular Eligible Foreign Custodian within a Specified Country and of any material change in the arrangements (including the contract governing such arrangements) with respect to assets of the Funds with any such Eligible Foreign Custodian.

ARTICLE III
RESPONSIBILITIES

1.      Subject to the provisions of this Agreement, BNY shall with respect to each Specified Country select an Eligible Foreign Custodian. In connection therewith, BNY shall: (a) determine that assets of the Funds held by such Eligible Foreign Custodian will be subject to reasonable care, based on the standards applicable to custodians in the relevant market in which such Eligible Foreign Custodian operates, after considering all factors relevant to the safekeeping of such assets, including, without limitation, those contained in paragraph (c)(1) of the Rule; (b) determine that the Funds’ foreign custody arrangements with each Eligible Foreign Custodian are governed by a written contract with the Custodian which will provide reasonable care for the Funds’ assets based on the standards specified in paragraph (c)(1) of the Rule; (c) determine that each contract with an Eligible Foreign Custodian shall include the provisions specified in paragraph (c)(2)(i)(A) through (F) of the Rule or, alternatively, in lieu of any or all of such (c)(2)(i)(A) through (F) provisions, such other provisions as BNY determines will provide, in their entirety, the same or a greater level of care and protection for the assets of the Funds as such specified provisions; (d) monitor pursuant to the Monitoring System the appropriateness of maintaining the assets of the Funds with a particular Eligible Foreign Custodian pursuant to paragraph (c)(1) of the Rule and the performance of the contract governing such arrangement; and (e) advise the Funds whenever BNY determines under the Monitoring System that an arrangement (including, any material change in the contract governing such arrangement) described in preceding clause (d) no longer meets the requirements of the Rule.

2.      For purposes of preceding Section 1 of this Article, BNY’s determination of appropriateness shall not include, nor be deemed to include, any evaluation of Country Risks associated with investment in a particular country. For purposes hereof, “Country Risks” shall mean systemic risks of holding assets in a particular country including but not limited to (a) an Eligible Foreign Custodian’s use of any depositories that act as or operate a system or a transnational system for the central handling of securities or any equivalent book-entries; (b) such country’s financial infrastructure; (c) such country’s prevailing custody and settlement practices; (d) nationalization, expropriation or other governmental actions; (e) regulation of the banking or securities industry; (f) currency controls, restrictions, devaluations or fluctuations; and (g) market conditions which affect the orderly execution of securities transactions or affect the value of securities.

ARTICLE IV
REPRESENTATIONS

1.      The Funds hereby represent that: (a) this Agreement has been duly authorized, executed and delivered by the Funds, constitutes a valid and legally binding obligation of the Funds enforceable in accordance with its terms, and no statute, regulation, rule, order, judgment or contract binding on the Funds prohibits the Funds’ execution or performance of this Agreement; and (b) this Agreement has been approved and ratified by the Board.

2.      BNY hereby represents that: (a) BNY is duly organized and existing under the laws of the State of New York, with full power to carry on its businesses as now conducted, and to enter into this Agreement and to perform its obligations hereunder; (b) this Agreement has been duly authorized, executed and delivered by BNY, constitutes a valid and legally binding obligation of BNY enforceable in accordance with its terms, and no statute, regulation, rule, order, judgment or contract binding on BNY prohibits BNY’s execution or performance of this Agreement; and (c) BNY has established the Monitoring System.

ARTICLE V

CONCERNING BNY

1.      BNY shall not be liable for any costs, expenses, damages, liabilities or claims, including attorneys’ and accountants’ fees, sustained or incurred by, or asserted against, the Funds except to the extent the same arises out of the failure of BNY to exercise the care, prudence and diligence required by Section 2 of Article II hereof. In no event shall BNY be liable to the Funds, the Board, or any third party for special, indirect or consequential damages, or for lost profits or loss of business, arising in connection with this Agreement.

2.      The Funds shall indemnify BNY and hold it harmless from and against any and all costs, expenses, damages, liabilities or claims, including attorneys’ and accountants’ fees, sustained or incurred by, or asserted against, BNY by reason or as a result of any action or inaction, or arising out of BNY’s performance hereunder, provided that the Funds shall not indemnify BNY to the extent any such costs, expenses, damages, liabilities or claims arises out of BNY’s failure to exercise the reasonable care, prudence and diligence required by Section 2 of Article II hereof.

3.      For its services hereunder, the Funds agree to pay to BNY such compensation and out-of-pocket expenses as provided in the Custodian Agreement entered into between BNY and the Funds.

4.      BNY shall have only such duties as are expressly set forth herein. In no event shall BNY be liable for any Country Risks associated with investments in a particular country.

ARTICLE VI

MISCELLANEOUS

1.      This Agreement constitutes the entire agreement between the Funds and BNY as a foreign custody manager, and no provision in the Custody Agreement between the Funds and the Custodian shall affect the duties and obligations of BNY hereunder, nor shall any provision in this Agreement affect the duties or obligations of the Custodian under the Custody Agreement.

2.      Any notice or other instrument in writing, authorized or required by this Agreement to be given to BNY, shall be sufficiently given if received by it at its offices at 100 Church Street, 10th Floor, New York, New York 10286, or at such other place as BNY may from time to time designate in writing.

3.      Any notice or other instrument in writing, authorized or required by this Agreement to be given to the Funds shall be sufficiently given if received by it at its offices at 5800 Corporate Drive, Pittsburgh PA, J5237-7000 or at such other place as the Funds may from time to time designate in writing.

4.      In case any provision in or obligation under this Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions shall not in any way be affected thereby. This Agreement may not be amended or modified in any manner except by a written agreement executed by both parties. This Agreement shall extend to and shall be binding upon the parties hereto, and their respective successors and assigns; provided however, that this Agreement shall not be assignable by either party without the written consent of the other.

5.      This Agreement shall be construed in accordance with the substantive laws of the State of New York, without regard to conflicts of laws principles thereof. The Funds and BNY hereby consent to the jurisdiction of a state or federal court situated in New York City, New York in connection with any dispute arising hereunder. The Funds hereby irrevocably waives, to the fullest extent permitted by applicable law, any objection which it may now or hereafter have to the laying of venue of any such proceeding brought in such a court and any claim that such proceeding brought in such a court has been brought in an inconvenient forum. The Funds and BNY each hereby irrevocably waives any and all rights to trial by jury in any legal proceeding arising out of or relating to this Agreement.

6.      The parties hereto agree that in performing hereunder, BNY is acting solely on behalf of the Funds and no contractual or service relationship shall be deemed to be established hereby between BNY and any other person by reason of this Agreement.

7.      This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but such counterparts shall, together, constitute only one instrument.

8.      This Agreement shall terminate simultaneously with the termination of the Custody Agreement between the Funds and the Custodian, and may otherwise be terminated by either party giving to the other party a notice in writing specifying the date of such termination, which shall be not less than thirty (30) days after the date of such notice.

9.      The Custodian is expressly put on notice of the limitation of liability as set forth in the Declaration of Trust of those registered investment companies which are business trusts and agrees that the obligations and liabilities assumed by a registered investment company or any Series pursuant to this Agreement, including, without limitation, any obligation or liability to indemnify the Custodian, shall be limited in any case to the relevant Fund and its assets and that the Custodian shall not seek satisfaction of any such obligation from the shareholders of the relevant Fund, from any other Fund or its shareholders or from the Trustees, Officers, employees or agents of the registered investment company or Series, or any of them. In addition, in connection with the discharge and satisfaction of any claim made by the Custodian involving more than one Fund, the Trustees or Officers of such Funds shall have the exclusive right to determine the appropriate allocations of liability for any claim between or among the Funds.

 

IN WITNESS WHEREOF, the Funds and BNY have caused this Agreement to be executed by their respective officers, thereunto duly authorized, as of the date first above written.

 

THE FUNDS LISTED ON SCHEDULE I

By: /s/ Richard A. Novak

Title: Treasurer

THE BANK OF NEW YORK

By: Joseph F. Keenan

Title: Managing Director

 
 

SCHEDULE I

 

Federated Capital Reserves Fund, a portfolio of Money Market Obligations Trust

 

Federated Government Reserves Fund, a portfolio of Money Market Obligations Trust

 

Federated Municipal Trust, a portfolio of Money Market Obligations Trust

 

Government Obligations Tax-Managed Fund, a portfolio of Money Market Obligations Trust

 

U.S. Treasury Cash Reserves, a portfolio of Money Market Obligations Trust

 

Automated Government Cash Reserves, a portfolio of Money Market Obligations Trust

 

Federated Market Opportunity Fund, a portfolio of Federated Equity Funds

 

Federated Stock Trust

 

 
 

SCHEDULE II

Specified Countries

Australia National Australia Bank Ltd
Austria Bank Austria Creditanstalt A.G.
Belgium ING Belgium SA/NV
Brazil Citibank N.A.
Canada Royal Bank of Canada
Czech Republic ING Bank N.V. Prague
Denmark Danske Bank
Egypt Citibank, N.A.
Finland Nordea Bank Finland plc
France BNP Paribas Securities Services/ CACEIS Bank
Germany BHF-BANK AG
Hong Kong HSBC
Hungary ING Bank (Hungary) Rt.
India Deutsche Bank AG Mumbai/ HSBC
Indonesia HSBC
Israel Bank Hapoalim B.M.
Italy Intesa Sanpaolo S.p.A.
Japan The Bank of Tokyo-Mitsubishi UFJ Ltd/ Mizuho Corporate Bank, Ltd.
Malaysia HSBC Bank Malaysia Berhad
Mexico Banco Nacional de Mexico
Netherlands ING Bank
New Zealand National Australia Bank
Norway DnB NOR Bank ASA
Poland ING Bank Slaski
Portugal Banco Comercial Portugues
Singapore United Overseas Bank Limited/ DBS Bank Ltd.
South Africa Standard Bank of South Africa Limited
South Korea HSBC
Spain Banco Bilbao Vizcaya Argentaria S.A./ Santander Investment, S.A.
Sweden Skandinaviska Enskilda Banken
Switzerland Credit Suisse, Zurich
Taiwan HSBC
Turkey Garanti Bank
United Kingdom The Bank of New York/ Deutsche Bank AG London (Depository and Clearing Centre)
 
 

EXHIBIT D

 

 

Non-Money Market Funds Fee Schedule

 

DOMESTIC CUSTODY (U.S. Securities Processing)

 

Safekeeping, Income Collection, Transaction Processing, Account Administration

 

0.25 of a basis point per annum on the average net assets of the Fund.

 

U.S. Security Transaction Charges (per transaction):

 

$4.50 DTC/FRB Book Entry Settlements

$4.00 Repurchase Agreements (each leg)

$5.00 Time Deposits

$5.00 Maturities

$20.00 Physical Settlements, Euroclear, Options, and Futures Transactions

$5.00 Paydowns

$4.00 Wire Transfers/Checks (not related to securities settlements)

$2.00 Interfund/Account Transactions

 

Manual Instruction Surcharge

Transactions instructed in a manner which does not facilitate Straight-Through-Processing will incur an additional $15 per transaction.

 

Out-of-Pocket Expenses

In addition to the above fee-schedule, Out-of-Pocket expenses will be charged as incurred. These charges would include but are not limited to:

  • Securities pricing.
  • Custom electronic interfaces and/or programming beyond normal and customary system development associated with conversion.
  • Local taxes, stamp duties or other assessments, including stock exchange fees, postage and insurance for shipping, facsimile reporting, extraordinary telecommunications fees or other unusual expenses, which are unique to a country in which the Funds are investing.

 

See Second Amendment, dated 9/5/08

Compensating Balance Arrangement

 

The Funds and The Bank of New York have entered into a compensating balance arrangement, which would allow the Funds to compensate the Bank for any overdrafts by maintaining a positive cash balance the next day. Conversely, on any day the Funds maintain a positive balance, they will be allowed to overdraw the account as compensation. In both cases, Federal Reserve requirements, currently 10%, will be assessed. Therefore, all overdrafts must be compensated at 100% of the total and all positive balances will allow for an overdraft of 90% of the total.

 

Balances for the tax-exempt portfolios will be permitted an open-ended roll forward. The taxable portfolios are closed out on a quarterly basis with no carry-over to the subsequent quarter. At the end of each quarter, the average overdraft will be assessed a fee of 1% above the actual Federal Funds rate at the end of the period. Any average positive balance will receive an earnings credit computed at the daily effective 90 day T-bill rate minus 0.25 bps on the last day of the period. Earnings credits will be offset against the Funds’ safekeeping fees.

 

 
 

GLOBAL CUSTODY (Non-US Securities Processing)

 

 

  Global  
  Safekeeping Fee Transaction Fee
Countries *(in basis points)1 (U.S. Dollars)2
Argentina 17.00 55
Australia 1.50 25
Austria 3.00 40
Bahrain 50.00 140
Bangladesh 50.00 145
Belgium 2.50 35
Bermuda 17.00 70
Botswana 50.00 140
Brazil 12.00 30
Bulgaria 30.00 85
Canada 1.00 10
Chile 20.00 80
China “A” Shares 15.00 80
China “B” Shares 15.00 60
Colombia 50.00 95
Costa Rica 14.00 65
Croatia 25.00 70
Cyprus 15.00 35
Czech Republic 18.00 50
Denmark 2.00 35
Ecuador 30.00 55
Egypt 30.00 85
Estonia 10.00 60
Euromarket/Euroclear3 1.00 10
Euromarket/Clearstream 1.00 10
Finland 3.50 35
France 2.00 30
Germany 1.50 25
Ghana 50.00 140
Greece 9.00 40
Hong Kong 3.00 45
Hungary 20.00 55
Iceland 11.00 35
India 13.00 105
Indonesia 11.00 80
Ireland (Equities) 3.00 33
Ireland (Gov’t Bonds) 1.00 13
Israel 20.00 40
Italy 1.50 35
Ivory Coast 50.00 140
Jamaica 50.00 60
Japan 1.75 20
Jordan 50.00 140
Kazakhstan 53.00 140
Kenya 48.00 140
Latvia 50.00 45
Lebanon 50.00 140
Lithuania 20.00 43
Luxembourg 10.00 80
Malaysia 4.50 45
Malta 20.00 63
Mauritius 25.00 100
Mexico 6.50 30
Morocco 50.00 95
Namibia 50.00 60
Netherlands 2.00 25
New Zealand 2.00 35
Nigeria 50.00 60
Norway 2.50 35
Oman 50.00 140
Pakistan 50.00 140
Peru 50.00 83
Philippines 6.00 60
Poland 15.00 63
Portugal 5.00 50
Qatar 50.00 140
Romania 30.00 80
Russia Equities 40.00 95
Singapore 3.50 45
Slovak Republic 23.00 95
Slovenia 50.00 60
South Africa 2.50 30
South Korea 6.50 45
Spain 2.50 40
Sri Lanka 13.00 70
Swaziland 50.00 60
Sweden 2.00 30
Switzerland 2.00 35
Taiwan 10.00 60
Thailand 5.00 50
Trinidad & Tobago 50.00 53
Tunisia 50.00 53
Turkey 12.50 60
Ukraine 75.00 250
United Kingdom 0.50 10
Uruguay 75.00 83
Venezuela 50.00 140
Zambia 50.00 140
Zimbabwe 50.00 140
       

 

Not In Bank/Not in Custody Assets USA4………………………$500 per line per annum

 

Third Party Foreign Exchange Settlements      
$70 per non-USD currency movement        
           
Minimum charges imposed by Agent Banks/Local Administrators    
Brazil - 15 basis points for annual administrative charges      
           
Colombia - USD $600 per month minimum administration charge      
Ecuador - USD $800 monthly minimum per relationship      
Egypt - USD $400 monthly minimum per relationship      
           
Additional Charges        
Local taxes, stamp duties or other assessments, including stock exchange fees, postage and  
insurance for shipping, facsimile reporting, extraordinary telecommunications fees or other unusual  
expenses, which are unique to a country in which the Funds are investing  
       

 

 

 
 

EXHIBIT E

 

Money Market Funds Fee Schedule

 

DOMESTIC CUSTODY (U.S. Securities Processing)

 

Safekeeping, Income Collection, Transaction Processing, Account Administration

 

0.25 of a basis point per annum on the average net assets of the Fund.

 

U.S. Security Transaction Charges (per transaction):

 

$4.50 DTC/FRB Book Entry Settlements

$4.00 Repurchase Agreements (each leg)

$5.00 Time Deposits

$5.00 Maturities

$20.00 Physical Settlements, Euroclear, Options, and Futures Transactions

$5.00 Paydowns

$4.00 Wire Transfers/Checks (not related to securities settlements)

$2.00 Interfund/Account Transactions

 

Manual Instruction Surcharge

Transactions instructed in a manner which does not facilitate Straight-Through-Processing will incur an additional $15 per transaction.

 

Out-of-Pocket Expenses

In addition to the above fee-schedule, Out-of-Pocket expenses will be charged as incurred. These charges would include but are not limited to:

  • Securities pricing
  • Custom electronic interfaces and/or programming beyond normal and customary system development associated with conversion.
  • Local taxes, stamp duties or other assessments, including stock exchange fees, postage and insurance for shipping, facsimile reporting, extraordinary telecommunications fees or other unusual expenses, which are unique to a country in which the Funds are investing.

 

See Second Amendment, dated 9/5/08

Compensating Balance Arrangement

 

The Funds and The Bank of New York have entered into a compensating balance arrangement, which would allow the Funds to compensate the Bank for any overdrafts by maintaining a positive cash balance the next day. Conversely, on any day the Funds maintain a positive balance, they will be allowed to overdraw the account as compensation. In both cases, Federal Reserve requirements, currently 10%, will be assessed. Therefore, all overdrafts must be compensated at 100% of the total and all positive balances will allow for an overdraft of 90% of the total.

 

Balances for the tax-exempt portfolios will be permitted an open-ended roll forward. The taxable portfolios are closed out on a quarterly basis with no carry-over to the subsequent quarter. At the end of each quarter, the average overdraft will be assessed a fee of 1% above the actual Federal Funds rate at the end of the period. Any average positive balance will receive an earnings credit computed at the daily effective 90 day T-bill rate minus 0.25 bps on the last day of the period. Earnings credits will be offset against the Funds’ safekeeping fees.

 

 
 

GLOBAL CUSTODY (Non-US Securities Processing)

 

 

  Global  
  Safekeeping Fee Transaction Fee
Countries *(in basis points)1 (U.S. Dollars)2
Argentina 17.00 55
Australia 1.50 25
Austria 3.00 40
Bahrain 50.00 140
Bangladesh 50.00 145
Belgium 2.50 35
Bermuda 17.00 70
Botswana 50.00 140
Brazil 12.00 30
Bulgaria 30.00 85
Canada 1.00 10
Chile 20.00 80
China “A” Shares 15.00 80
China “B” Shares 15.00 60
Colombia 50.00 95
Costa Rica 14.00 65
Croatia 25.00 70
Cyprus 15.00 35
Czech Republic 18.00 50
Denmark 2.00 35
Ecuador 30.00 55
Egypt 30.00 85
Estonia 10.00 60
Euromarket/Euroclear3 1.00 10
Euromarket/Clearstream 1.00 10
Finland 3.50 35
France 2.00 30
Germany 1.50 25
Ghana 50.00 140
Greece 9.00 40
Hong Kong 3.00 45
Hungary 20.00 55
Iceland 11.00 35
India 13.00 105
Indonesia 11.00 80
Ireland (Equities) 3.00 33
Ireland (Gov’t Bonds) 1.00 13
Israel 20.00 40
Italy 1.50 35
Ivory Coast 50.00 140
Jamaica 50.00 60
Japan 1.75 20
Jordan 50.00 140
Kazakhstan 53.00 140
Kenya 48.00 140
Latvia 50.00 45
Lebanon 50.00 140
Lithuania 20.00 43
Luxembourg 10.00 80
Malaysia 4.50 45
Malta 20.00 63
Mauritius 25.00 100
Mexico 6.50 30
Morocco 50.00 95
Namibia 50.00 60
Netherlands 2.00 25
New Zealand 2.00 35
Nigeria 50.00 60
Norway 2.50 35
Oman 50.00 140
Pakistan 50.00 140
Peru 50.00 83
Philippines 6.00 60
Poland 15.00 63
Portugal 5.00 50
Qatar 50.00 140
Romania 30.00 80
Russia Equities 40.00 95
Singapore 3.50 45
Slovak Republic 23.00 95
Slovenia 50.00 60
South Africa 2.50 30
South Korea 6.50 45
Spain 2.50 40
Sri Lanka 13.00 70
Swaziland 50.00 60
Sweden 2.00 30
Switzerland 2.00 35
Taiwan 10.00 60
Thailand 5.00 50
Trinidad & Tobago 50.00 53
Tunisia 50.00 53
Turkey 12.50 60
Ukraine 75.00 250
United Kingdom 0.50 10
Uruguay 75.00 83
Venezuela 50.00 140
Zambia 50.00 140
Zimbabwe 50.00 140
       

 

Not In Bank/Not in Custody Assets USA4………………………$500 per line per annum

 

 

 

Third Party Foreign Exchange Settlements      
$70 per non-USD currency movement        
           
Minimum charges imposed by Agent Banks/Local Administrators    
Brazil - 15 basis points for annual administrative charges      
           
Colombia - USD $600 per month minimum administration charge      
Ecuador - USD $800 monthly minimum per relationship      
Egypt - USD $400 monthly minimum per relationship      
           
Additional Charges        
Local taxes, stamp duties or other assessments, including stock exchange fees, postage and  
insurance for shipping, facsimile reporting, extraordinary telecommunications fees or other unusual  
expenses, which are unique to a country in which the Funds are investing  
       

 

 

 

 
 

Amendment to

Custody Agreement

between

The Bank of New York

and

The Funds listed on Schedule II to the Custody Agreement, as amended from time to time

 

 

This Amendment (the “Amendment”) dated as of November 8, 2007 between The Bank of New York (“Custodian”) and the Funds listed on Schedule II to the Custody Agreement, as amended by Exhibit A attached hereto (each a “Fund”).

 

WHEREAS, the Federated Capital Reserves Fund, Federated Government Reserves Fund and Federated Municipal Trust (collectively, the “Federated Reserves Funds”), and Custodian, having executed the Custody Agreement dated June 7, 2005, now wish to make certain changes to the Custody Agreement and provisions thereof which provisions the Federated Reserves Funds and Custodian agree shall be deemed by them, and each of them, to be included as of the date of this Amendment within the Custody Agreement as if originally stated therein; and

 

WHEREAS, the Federated Reserves Funds and the Custodian agree to the addition of the following funds to the Custody Agreement: Government Obligations Tax-Managed Fund, U.S. Treasury Cash Reserves, and Automated Government Cash Reserves, each a portfolio of Money Market Obligations Trust; Federated Market Opportunity Fund, a portfolio of Federated Equity Funds; and Federated Stock Trust; and

 

WHEREAS, the Funds’ Board desires to delegate certain of its responsibilities for performing the services set forth in paragraphs (c)(1), (c)(2) and (c)(3) of Rule 17f-5 of the Investment Company Act of 1940 to the Custodian as Foreign Custody Manager and the Custodian agrees to accept such delegation of responsibilities; and

 

WHEREAS, the Custody Agreement is amended to include a Fee Schedule for non-money market funds;

 

WHEREAS, the Custody Agreement Fee Schedule for non-money market funds is amended to reduce the interest rate on overdrafts from 2% to 1% and to include a Global Custody Fee Schedule; and

 

WHEREAS, the Custody Agreement Fee Schedule for money market funds is amended to, include three new money market funds, to reduce the interest rate on overdrafts from 2% to 1% and to include a Global Custody Fee Schedule.

 

NOW, THEREFORE, for good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the Funds and Custodian hereby agree as follows:

 

1.       Schedule II of the Custody Agreement and Schedule I of the Joint Trading Account Agreement are each replaced with the Schedule II and Schedule I respectively, attached to this Amendment as Exhibits A and B, respectively.

 

2. The Custodian shall serve as Foreign Custody Manager in accordance with the Foreign Custody Management Agreement, attached to this Amendment as Exhibit C.

 

3. The Custody Agreement is amended to include a Fee Schedule for non-money market funds, attached to this Amendment as Exhibit D.

 

4. The Fee Schedule for non-money market funds is hereby added to the Custody Agreement in the form attached to this Amendment as Exhibit D.

 

5. The Fee Schedule for money funds is amended to include Government Obligations Tax-Managed Fund, U.S. Treasury Cash Reserves, and Automated Government Cash Reserves, each a portfolio of Money Market Obligations Trust, to reduce the interest rate on overdrafts from 2% to 1% above the actual Federal Funds rate at the end of the period and to provide a Global Custody Fee schedule, attached to this Amendment as Exhibit E.

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly designated officers below as of the day and year first above written.

 

ACKNOWLEDGED AND AGREED:

Custodian:

 

THE BANK OF NEW YORK

On behalf of each of the funds indicated on Schedule II of the Custody Agreement, as amended from time to time.

 

   
   
By:  /s/ Joseph F. Keenan By:  /s/ Richard A. Novak
Title:  Managing Director Title:  Treasurer

 

 

 
 

EXHIBIT A

 

CUSTODY AGREEMENT

SCHEDULE II

 

Federated Capital Reserves Fund, a portfolio of Money Market Obligations Trust

 

Federated Government Reserves Fund, a portfolio of Money Market Obligations Trust

 

Federated Municipal Trust, a portfolio of Money Market Obligations Trust

 

Government Obligations Tax-Managed Fund, a portfolio of Money Market Obligations Trust

 

U.S. Treasury Cash Reserves, a portfolio of Money Market Obligations Trust

 

Automated Government Cash Reserves, a portfolio of Money Market Obligations Trust

 

Federated Market Opportunity Fund, a portfolio of Federated Equity Funds

 

Federated Stock Trust

 

 

 
 

EXHIBIT B

 

JOINT TRADING ACCOUNT AGREEMENT

SCHEDULE I

 

Federated Capital Reserves Fund, a portfolio of Money Market Obligations Trust

 

Federated Government Reserves Fund, a portfolio of Money Market Obligations Trust

 

Federated Municipal Trust, a portfolio of Money Market Obligations Trust

 

Government Obligations Tax-Managed Fund, a portfolio of Money Market Obligations Trust

 

U.S. Treasury Cash Reserves, a portfolio of Money Market Obligations Trust

 

Automated Government Cash Reserves, a portfolio of Money Market Obligations Trust

 

Federated Market Opportunity Fund, a portfolio of Federated Equity Funds

 

Federated Stock Trust

 

 

 
 

Second Amendment to the Custody Agreement

 

 

This Amendment is made as of September 5, 2008 to the Custody Agreement (the “Agreement”) dated June 7, 2005 and amended November 8, 2007 between the Funds listed on Schedule II attached hereto (each a "Fund") and The Bank of New York Mellon (the "Custodian").

 

WHEREAS, each Fund and the Custodian wish to modify the provisions of the Agreement as set forth below;

 

NOW THEREFORE, each the Fund and the Custodian agree to the following amendments.

 

1.       Section 14. “Internal Operating Account” to Article I of the Agreement shall be revised as follows:

 

14. “Internal Operating Account” shall mean accounts established by the Custodian at the direction of a Fund to facilitate the intraday transfer of monies to or from the Custodian representing aggregated subscriptions or redemptions for allocation to individual Funds as indicated by the Fund or its agent.

 

And;

 

Each Fund and the Custodian hereby amend Article V. Section 1 of the Agreement by replacing the first sentence of the section as follows:

 

If Custodian should in its sole discretion advance funds on behalf of any Fund which results in an overdraft at the end of any day, because the money held by Custodian in an Account, including an Internal Operating Account, for such Fund shall be insufficient to pay the total amount payable upon a purchase of Securities specifically allocated to such Fund, as set forth in a Certificate, Instructions or Oral Instructions, or if an overdraft arises in the separate account of a Fund for some other reason, including, without limitation, because of a reversal of a conditional credit or the purchase of any currency, or if the Fund is for any other reason indebted to Custodian with respect to a Fund, due to borrowing by a Fund from the Custodian, (except a borrowing for investment or for temporary or emergency purposes using Securities as collateral pursuant to a separate agreement and subject to the provisions of Section 2 of this Article), such overdraft or indebtedness shall be deemed to be a loan made by Custodian to the Fund for such Fund payable on demand and shall bear interest from the date incurred at a rate per annum as disclosed on the Fee Schedule between the Funds and the Custodian as such Fee Exhibit may be amended from time to time. 

 

2.       Within Exhibit D, the section entitled “Compensating Balance Arrangement” is replaced in its entirety with the following Amended and Restated section entitled “Compensating Balance Arrangement” as attached hereto.

 

3.       Within Exhibit E, the section entitled “Compensating Balance Arrangement” is replaced in its entirety with the following Amended and Restated section entitled “Compensating Balance Arrangement” as attached hereto.

 

4.       Each Exhibit A, Exhibit B, and Schedule I to Exhibit C, the Foreign Custody Manager Agreement, are updated to include the following new Funds:

 

Federated California Municipal Income Fund

Federated New York Municipal Income Fund

Federated North Carolina Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

 

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of the day and year first written above.

 

On behalf of each of the Funds indicated on Schedule II attached hereto

 

 

By: /s/ Richard A. Novak

Name: Richard A. Novak

Title: Treasurer

 

 

 

THE BANK OF NEW YORK MELLON

 

 

By: /s/ Bruce L. Baumann

Title: Vice President

 
 

Amended and Restated

Exhibit D

 

Compensating Balance Arrangement

 

Each of the Funds listed below and The Bank of New York Mellon have entered into an earnings credit balance arrangement pursuant to which it has been agreed that 90% of any positive balances will be compensated at the 90 day T-Bill rate and 100% of overdrawn balances will be charged at a rate of 1% over the Fed Funds rate. Monthly, the net resultant credit or charge will be applied to the each Funds’ respective safekeeping fees. Credits that exceed the safekeeping fee may be carried over into the next billing period at the discretion of Custodian.

 

FUNDS

Federated Stock Trust

Federated Market Opportunity Fund

Federated California Municipal Income Fund

Federated North Carolina Municipal Income Fund

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

 
 

See Fifth Amendment dated 11/13/09 for Compensating Balance Arrangement

 

Amended and Restated

Exhibit E

 

Compensating Balance Arrangement

Each Fund listed below and The Bank of New York Mellon (the “Bank”) have entered into a average compensating balance arrangement, which would allow the Funds to compensate the Bank for any overdrafts by maintaining a positive cash balance and conversely, on any day a Fund maintains a positive balance, the respective Fund will be permitted to overdraw the account as compensation.

 

In each instance, Federal Reserve requirements (currently 10%), will be assessed. Therefore, all overdrafts must be compensated at 100% of the total and all positive balances will allow for an overdraft of up to 90% of the total (unless the positive balance is the result of an error on the part on the Bank, in which case the positive balance would be assessed at 100%). The Funds shall maintain the average compensating balance over quarterly periods (ending March, June, September and December for FGRF, FCRF and FMUTR; and ending February, May, August, and November for AGCR, USTCR and GOTMF). Average balances will be computed at the end of the quarter. Net positive balances will receive an earnings credit computed at the daily effective 90 – day T-Bill rate on the last day of a period. Net negative balances will be charged at the Fed Funds rate plus 1% on the last day of the period. Quarterly net credits or charges will be applied to the safekeeping fees. Credits that exceed the safekeeping fee will be carried over into the next billing period but must be applied in a 12 month cycle; all accumulated unapplied credits will expire in the final quarter of the cycle, i.e. in November or December. However, upon specific request from Fund, Custodian at its discretion may agree to carry forward into the next 12 month cycle any accumulated credits, contingent on their application within a specified time period.

 

Credits are not redeemable for cash and will expire in the event the relationship with the Funds is terminated.

 

FUNDS

Federated Capital Reserves Fund (FCRF)

Federated Government Reserve Fund (FGRF)

Federated Municipal Trust Fund (FMUTR)

US Treasury Cash Reserve Fund (USTCR)

Automated Government Cash Reserves (AGCR)

Government Obligations Tax Managed Fund (GOTMF)

 

 

 
 

 

Third Amendment to the Custody Agreement

 

 

This Amendment is made as of September 8, 2009 to the Custody Agreement (the “Agreement”) dated June 7, 2005, amended November 7, 2007 and September 5, 2008 between the Funds listed on Schedule II attached hereto (each a "Fund") and The Bank of New York Mellon (the "Custodian").

 

WHEREAS, each Fund and the Custodian wish to modify the provisions of the Agreement as set forth below;

 

NOW THEREFORE, each the Fund and the Custodian agree to the following amendments.

 

1.       Within Exhibit C, the section entitled Schedule II is replaced in its entirety with Amended and Restated Schedule II as attached hereto.

 

2.       Exhibit D, the fee schedule for non-money market funds, is amended to include a fee for the safekeeping of gold bullion and a transaction charge for settlement of trades involving same with restated Exhibit D as attached hereto.

 

3.       A Precious Metals Supplement is added as Exhibit F to include provisions for the custody of assets consisting of precious metals held for the Federated Market Opportunity Fund.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of the day and year first written above.

 

On behalf of each of the Funds indicated on Schedule II attached hereto

 

 

By: /s/ Richard A. Novak

Title: Treasurer

 

 

 

THE BANK OF NEW YORK MELLON

 

 

By: /s/ Andrew Pfeifer

Title: Vice President

 
 

Custody Agreement

Schedule II

 

 

 

Federated Stock Trust

Federated Market Opportunity Fund

Federated California Municipal Income Fund

Federated North Carolina Municipal Income Fund

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

 

Federated Capital Reserves Fund

Federated Government Reserve Fund

Federated Municipal Trust Fund

US Treasury Cash Reserve Fund

Automated Government Cash Reserves

Government Obligations Tax Managed Fund

 

 

 

 

See Fourth Amendment adding new funds, effective 10/23/09

 
 

Custody Agreement

Amended and Restated

Exhibit C, Schedule II

 

Specified Countries

 

 

Country/Market Subcustodian(s)
Argentina Citibank N.A.
Australia National Australia Bank Limited
Austria UniCredit Bank Austria AG
Bahrain HSBC Bank Middle East Limited
Bangladesh Standard Chartered Bank
Belgium ING Belgium, SA/NV
Benin Société Générale de Banques en Côte d’Ivoire
Bermuda Bank of Bermuda Limited
Botswana Barclays Bank of Botswana Ltd.
Brazil Citibank N.A.  
Bulgaria ING Bank N.V.
Burkina Faso Société Générale de Banques en Côte d’Ivoire
Canada CIBC Mellon Trust Company
Cayman Islands The Bank of New York Mellon  
Channel Islands The Bank of New York Mellon
Chile Banco de Chile
China HSBC Bank (China) Company Limited
Colombia Cititrust Colombia S.A.
Costa Rica Banco BCT
Croatia Privredna Banka Zagreb d.d.
Cyprus EFG Eurobank Ergasias S.A.
Czech Republic ING Bank  N.V.
Denmark Danske Bank
Ecuador Banco de la Produccion S.A.
Egypt HSBC Bank Egypt S.A.E.   
Estonia SEB Pank AS
Euromarket Clearstream Banking Luxembourg S.A.
Euromarket Euroclear Bank
Finland Skandinaviska Enskilda Banken
France BNP Paribas Securities Services
France CACEIS Bank
Germany BHF Asset Servicing GmbH
Ghana Barclays Bank of Ghana Ltd.
Greece EFG Eurobank Ergasias S.A.
Guinea Bissau Société Générale de Banques en Côte d’Ivoire
Hong Kong HSBC Ltd.
Hungary ING Bank N.V.
Iceland New Landsbanki Islands
India Deutsche Bank AG
Indonesia HSBC Ltd.
Ireland The Bank of New York Mellon
Israel Bank Hapoalim B.M.
Italy Intesa Sanpaolo S.p.A
Ivory Coast Société Générale de Banques en Côte d’Ivoire
Japan Mizuho Corporate Bank Ltd. (MHCB)
Japan The Bank of Tokyo – Mitsubishi UFJ Ltd.
Jordan HSBC Bank Middle East Ltd.
Kazakhstan HSBC Kazakhstan
Kenya Barclays Bank of Kenya Ltd.
Kuwait HSBC Bank Middle East Ltd.
Latvia AS SEB banka
Lebanon HSBC Bank Middle East Ltd.
Lithuania SEB Bankas
Luxembourg Banque et Caisse d’Epargne de l’Etat (BCEEL)
Malaysia HSBC Bank Malaysia Berhad
Mali Société Générale de Banques en Côte d’Ivoire
Malta HSBC Bank Malta plc
Mauritius HSBC Ltd.
Mexico Banco Nacional de Mexico (BANAMEX)
Morocco Citibank Maghreb
Namibia Standard Bank Namibia Ltd
Netherlands BNY Mellon Asset Servicing BV
New Zealand National Australia Bank
Niger Société Générale de Banques en Côte d’Ivoire
Nigeria Stanbic IBTC Bank Plc  
Norway DnB NOR Bank ASA
Oman HSBC Bank Middle East Ltd.
Pakistan Deutsche Bank AG
Palestinian Autonomous Area HSBC Bank Middle East Ltd.
Peru Citibank del Peru, S.A.
Philippines HSBC Ltd.
Poland ING Bank Slaski
Portugal Banco Comercial Portugues
Qatar HSBC Bank Middle East Ltd.  
Romania ING Bank N.V.
Russia ING Bank (Eurasia)
Saudi Arabia SABB Securities Limited
Senegal Société Générale de Banques en Côte d’Ivoire
Serbia UniCredit Bank Austria AG
Singapore DBS Bank Ltd.
Singapore United Overseas Bank Ltd.
Slovak Republic ING Bank N.V.
Slovenia UniCredit Banka Slovenia d.d.
South Africa Standard Bank of South Africa
South Korea HSBC Ltd.  
Spain Banco Bilbao Vizcaya Argentaria S.A. (BBVA)
Spain Santander Investment S.A.
Sri Lanka HSBC Ltd.  
Swaziland Standard Bank Swaziland Ltd
Sweden Skandinaviska Enskilda Banken
Switzerland Credit Suisse
Taiwan Standard Chartered Bank (Taiwan) Ltd. / HSBC
Thailand Bangkok Bank Public Company Ltd.
Thailand HSBC Ltd
Togo Société Générale de Banques en Côte d’Ivoire  
Trinidad & Tobago Republic Bank Ltd.
Tunisia Banque Internationale Arabe de Tunisie
Turkey Deutsche Bank AS  
Ukraine ING Bank Ukraine
United Arab Emirates HSBC Bank Middle East Ltd.
United Kingdom Deutsche Bank AG
United Kingdom The Bank of New York Mellon
United States The Bank of New York Mellon
Uruguay Banco Itaú Uruguay S.A.
Venezuela Citibank N.A.  
Vietnam HSBC Bank (Vietnam) Ltd
Zambia Barclays Bank of Zambia Ltd
Zimbabwe Barclays Bank of Zimbabwe Ltd

 

 

 
 

Custody Agreement

Amended and Restated

Exhibit D

Non-Money Market Funds Fee Schedule

 

 

Domestic Custody (U.S. Securities Processing)

 

Safekeeping, Income Collection, Transaction Processing, Account Administration

0.25        of a basis point per annum on the average net assets of the Fund.

 

Gold Bullion Safekeeping – at the following rates, minimum $75,000 per annum:

$20 per 400oz bar per month

$10 per 100oz bar per month

 

U.S. Security Transaction Charges (per transaction):

$4.50 DTC/FRB Book Entry Settlements

$4.00 Repurchase Agreements (each leg)

$5.00 Time Deposits

$5.00 Maturities

$20.00 Physical Settlements, Euroclear, Options, and Futures Transactions

$5.00 Paydowns

$4.00 Wire Transfers/Checks (not related to securities settlements)

$2.00 Interfund/Account Transactions

 

Gold Bullion Transaction Charges

$ 5 per receipt trade

$20 per delivery per 400oz bar

$10 per delivery per 100oz bar

 

Manual Instruction Surcharge

Transactions instructed in a manner which does not facilitate Straight-Through-Processing will incur an additional $15 per transaction.

 

Out-of-Pocket Expenses

In addition to the above fee-schedule, Out-of-Pocket expenses will be charged as incurred. These charges would include but are not limited to:

  • Securities pricing
  • Custom electronic interfaces and/or programming beyond normal and customary system development associated with conversion.
  • Local taxes, stamp duties or other assessments, including stock exchange fees, postage and insurance for shipping, facsimile reporting, extraordinary telecommunications fees or other unusual expenses, which are unique to a country in which the Funds are investing.

 

 
 

Global Custody (non-U.S. securities processing)

 

  Global  
  Safekeeping Fee Transaction Fee5
Countries *(in basis points)6 (U.S. Dollars)
Argentina 17.00 55
Australia 1.50 25
Austria 3.00 40
Bahrain 50.00 140
Bangladesh 50.00 145
Belgium 2.50 35
Bermuda 17.00 70
Botswana 50.00 140
Brazil 12.00 30
Bulgaria 30.00 85
Canada 1.00 10
Chile 20.00 80
China “A” Shares 15.00 80
China “B” Shares 15.00 60
Colombia 50.00 95
Costa Rica 14.00 65
Croatia 25.00 70
Cyprus 15.00 35
Czech Republic 18.00 50
Denmark 2.00 35
Ecuador 30.00 55
Egypt 30.00 85
Estonia 10.00 60
Euromarket/Euroclear7 1.00 10
Euromarket/Clearstream 1.00 10
Finland 3.50 35
France 2.00 30
Germany 1.50 25
 
 

 

 

 

 Global  
  Safekeeping Fee Transaction Fee
Countries *(in basis points) (U.S. Dollars)
Ghana 50.00 140
Greece 9.00 40
Hong Kong 3.00 45
Hungary 20.00 55
Iceland 11.00 35
India 13.00 105
Indonesia 11.00 80  
Ireland (Equities) 3.00 33  
Ireland (Gov’t Bonds) 1.00 13  
Israel 20.00 40  
Italy 1.50 35  
Ivory Coast 50.00 140  
Jamaica 50.00 60  
Japan 1.75 20  
Jordan 50.00 140  
Kazakhstan 53.00 140  
Kenya 48.00 140  
Latvia 50.00 45  
Lebanon 50.00 140  
Lithuania 20.00 43  
Luxembourg 10.00 80  
Malaysia 4.50 45  
Malta 20.00 63  
Mauritius 25.00 100  
Mexico 6.50 30  
Morocco 50.00 95  
Namibia 50.00 60  
Netherlands 2.00 25  
New Zealand 2.00 35  
Nigeria 50.00 60  
Norway 2.50 35  
Oman 50.00 140  
Pakistan 50.00 140  
Peru 50.00 83  
Philippines 6.00 60  
Poland 15.00 63  
Portugal 5.00 50  
Qatar 50.00 140  
Romania 30.00 80  
Russia Equities 40.00 95  

 

 

 Global    
  Safekeeping Fee Transaction Fee  
Countries *(in basis points) (U.S. Dollars)  
Singapore 3.50 45  
Slovak Republic 23.00 95  
Slovenia 50.00 60  
South Africa 2.50 30  
South Korea 6.50 45  
Spain 2.50 40  
Sri Lanka 13.00 70  
Swaziland 50.00 60  
Sweden 2.00 30  
Switzerland 2.00 35  
Taiwan 10.00 60  
Thailand 5.00 50  
Trinidad & Tobago 50.00 53  
Tunisia 50.00 53  
Turkey 12.50 60  
Ukraine 75.00 250  
United Kingdom 0.50 10  
Uruguay 75.00 83  
Venezuela 50.00 140  
Zambia 50.00 140  
Zimbabwe 50.00 140  
           

 

Not In Bank/Not in Custody Assets USA8 ………………………$500 per line per annum

 

Third Party Foreign Exchange Settlements      
$70 per non-USD currency movement        
           
Minimum charges imposed by Agent Banks/Local Administrators    
Brazil - 15 basis points for annual administrative charges      
           
Colombia - USD $600 per month minimum administration charge      
Ecuador - USD $800 monthly minimum per relationship      
Egypt - USD $400 monthly minimum per relationship      
           
Additional Charges        
Local taxes, stamp duties or other assessments, including stock exchange fees, postage and  
insurance for shipping, facsimile reporting, extraordinary telecommunications fees or other unusual  
expenses, which are unique to a country in which the Funds are investing.  
       

 

 

Earnings Credit Arrangement

Each of the Funds listed below and The Bank of New York Mellon have entered into an earnings credit balance arrangement pursuant to which it has been agreed that 90% of any positive balances will be compensated at the 90 day T-Bill rate and 100% of overdrawn balances will be charged at a rate of 1% over the Fed Funds rate. Monthly, the net resultant credit or charge will be applied to the each Funds’ respective safekeeping fees. Credits that exceed the safekeeping fee may be carried over into the next billing period at the discretion of the Custodian.

 

FUNDS See Seventh Amendment, dated 9/1/10

Federated Stock Trust

Federated Market Opportunity Fund

Federated California Municipal Income Fund

Federated North Carolina Municipal Income Fund

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

 

 

See Fourth Amendment adding new funds, effective 10/23/09

 
 

Custody Agreement

Exhibit F

PRECIOUS METALS SUPPLEMENT

(Precious Metals Physically Held in the USA)

 

 

In addition to the provisions of that certain Global Custody Agreement dated as of June 7, 2005, as amended, pursuant to which the registered investment company, the Federated Market Opportunity Fund, (the “Customer”) has appointed The Bank of New York Mellon, formerly known as The Bank of New York (the “Custodian”) as its custodian of securities and cash and to perform related services (the “Agreement”), the following provisions shall apply to the custody of assets consisting of precious metals.

 

ARTICLE I

APPOINTMENT OF CUSTODIAN; CUSTODIAL SERVICES TO BE PROVIDED BY SUBCUSTODIAN

 

1.       Customer hereby appoints the Custodian as custodian to hold and maintain certain property consisting of the metals described in the attached Addendum A (the “Precious Metals”) and which are specified in each authenticated trade instruction sent by the Customer or it’s Authorized Representative to the Custodian.

 

2.       Custodian hereby accepts appointment as such custodian of Precious Metals and agrees to perform its duties in respect thereof pursuant to the provisions of this Supplement. Customer acknowledges that Custodian shall utilize the services of one or more subcustodians, identified to Customer from time to time (each, for purposes of this Supplement, a “Subcustodian”), to serve as warehouseman of the Precious Metals held hereunder. Precious Metals held through a Subcustodian shall be held subject to the terms and conditions of Custodian’s agreement with such Subcustodian. Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian. In the event Custodian selects a replacement Subcustodian, Custodian shall not utilize such replacement Subcustodian until after providing Customer with commercially reasonable notice.

 

 

ARTICLE II

RESPONSIBILITIES OF CUSTODIAN AND SUBCUSTODIANS

 

1.       Custodian shall receive, hold and keep the Precious Metals at a secure facility maintained by a Subcustodian which shall be identified to Customer from time to time (the “Secure Facility”).

 

2.       Custodian shall be responsible for the safekeeping of the Precious Metals in the form and condition in which they are delivered to its Subcustodian acting as its warehouseman. Custodian shall cause the Subcustodian to keep the Precious Metals held for Customer hereunder separately identified and segregated and to maintain records identifying the Precious Metals belonging to Customer.

 

3.       Custodian shall provide Customer with reporting by a means agreed between the parties detailing Precious Metals received, delivered and held at the Subcustodian. Customer agrees that it shall promptly review all such statements and shall advise Custodian of any error, omission or inaccuracy therein within a commercially reasonable time.

 

4.       Custodian shall cause the Subcustodian it designates to take delivery of Precious Metals from Customer and to acknowledge receipt from Customer of the Precious Metals. The Subcustodian may, at its option, record certain specifications indicated on the Precious Metals. It is understood and agreed that neither Custodian nor its Subcustodians are responsible for the authenticity of markings on or for the weight, fineness or contents of any of the Precious Metals, delivered to them by Customer or a third party for the account of Customer.

 

5.       Custodian shall maintain insurance protection covering the Custodian’s duties and activities hereunder in such amounts and insuring against such risks as Custodian deems reasonable and appropriate under the circumstances. Subcustodians may maintain such insurance in regard to their business on such terms as they consider appropriate, but the Custodian shall have no liability for the terms or sufficiency of the insurance maintained by any Subcustodian or for the failure of any Subcustodian to maintain insurance.

 

ARTICLE III

DELIVERY OF PRECIOUS METALS TO, AND WITHDRAWAL OF PRECIOUS METALS FROM, CUSTODY

 

1.       Each delivery of Precious Metals to be held in custody in accordance with this Supplement shall be made pursuant to an authenticated trade instruction sent by the Customer or its Authorized Representative to the Custodian. Such instruction must be received by the published trade instruction deadlines and by the agreed communication method. Such instruction shall be acknowledged by the Custodian. The authorized trade instruction shall identify the Precious Metal to be delivered, in such customary manner as specified by the Custodian, and the delivery date, and the Custodian’s acknowledgment shall identify the Subcustodian and Secure Facility to which the Customer shall deliver the Precious Metal. Delivery shall be made only to the Secure Facility of the Subcustodian designated by the Custodian. Customer acknowledges and agrees that neither the Custodian nor the Subcustodian has any responsibility or liability for any loss, damage or destruction of any Precious Metals prior to the time the Subcustodian identified by the Custodian accepts the care, custody and control of the Precious Metals at the specified Subcustodian’s Secure Facility, and Customer hereby releases Custodian and each Subcustodian from any responsibility or liability prior to the time the Subcustodian identified by the Custodian accepts the care, custody and control of the Precious Metals. In the event the Precious Metal delivered to the Subcustodian differs from the identification provided by the Customer, the Custodian shall endeavor promptly to notify the Customer. Neither the Custodian nor any Subcustodian shall be liable for any loss resulting from the failure of the Precious Metal actually delivered to conform to the identification provided by the Customer in the authorized trade instruction.

 

2. Each withdrawal of Precious Metals from custody in accordance with this Supplement shall be made pursuant to an authenticated trade instruction sent by the Customer or its Authorized Representative to the Custodian. Such instruction must be received by the published trade instruction deadlines and by the agreed communication method. Such instruction shall be acknowledged by the Custodian. The authorized trade instruction shall identify the Precious Metal to be withdrawn, in such customary manner as specified by the Custodian, and the delivery date and the Custodian’s acknowledgment shall identify the Subcustodian and Secure Facility from which the Customer shall take delivery of the Precious Metal. Customer must collect or arrange for the collection of the Precious Metal being withdrawn from the Subcustodian having physical possession thereof. All risk in and to the Precious Metal withdrawn shall pass at the specified Secure Facility at the time Customer or its Authorized Representative acknowledges receipt.

 

3.       Customer shall be responsible for all expenses associated with the delivery and withdrawal of Precious Metals to and from the Secure Facility, as well as all insurance, safekeeping, security and secure transport arrangements for the Precious Metals while either in storage outside the terms of this agreement or in transit to or from the Custodians appointed Subcustodian. Customer shall pay or reimburse the Custodian from time to time for any taxes or other governmental charges payable, and actually paid, by Custodian upon storage or transfer of the Precious Metals made hereunder.

 

4.       If, in Custodian’s opinion, any authenticated trade instruction is unclear or ambiguous, Custodian shall endeavor to obtain clarification from Customer. In the absence of such clarification Custodian may, in its absolute discretion, either (i) decline to take action until clarification is received or (ii) act on what it believes, in good faith, to be such instruction.

 

 

ARTICLE IV

CONCERNING CUSTODIAN

 

Except as otherwise expressly provided herein, Custodian shall not be liable for any costs, expenses, damages, liabilities or claims, including attorneys’ and accountants’ fees (collectively, “Losses”), incurred by or asserted against Customer, except those Losses arising out of Custodian’s own negligence or willful misconduct. Custodian shall have no liability whatsoever for the action or inaction of any commodities exchange. With respect to any Losses incurred by Customer as a result of the acts or failures to act by a Subcustodian acting as warehouseman hereunder, Custodian shall take appropriate action to recover such Losses, and Custodian’s liability shall be limited to the amount recovered net of Custodian’s costs and expenses. In no event shall Custodian be liable to Customer or any third party for special, indirect or consequential damages, or lost profits or loss of business, arising in connection with this Supplement.

 

ARTICLE V

MISCELLANEOUS.

 

The provisions of this Supplement shall apply solely with respect to the custody of Precious Metals. All provisions of the Agreement shall nevertheless remain in full force and effect with respect to assets held pursuant to this Supplement, and all capitalized terms and provisions contained in the Agreement shall be read so as to apply fully to the services and activities contemplated by this Supplement; provided, that in the event of any conflict between the provisions of the Agreement and the provisions of this Supplement, the provisions of this Supplement shall control.

 

 

Federated Equity Funds on behalf of its

Dated: Federated Market Opportunity Fund

 

 

/s/ Richard A. Novak

By: Richard A. Novak

Title: Treasurer

 

 

THE BANK OF NEW YORK MELLON

 

 

By: /s/ Andrew Pfeifer

Title: Vice President

 

 

 

 
 

Precious Metals Supplement

Addendum A

 

 

Gold Bullion

 

 

 
 

Fourth Amendment to the Custody Agreement

 

This Amendment is made as of October 23, 2009 to the Custody Agreement (as amended, the “Custody Agreement”) dated June 7, 2005, amended November 7, 2007, September 5, 2008, and September 8, 2009 between the Funds listed on Schedule II to the Custody Agreement (each a "Fund") and The Bank of New York Mellon (the "Custodian").

 

RECITALS

 

WHEREAS, the custody of the securities, cash and other portfolio assets of the funds specified in this Amendment are being converted to the Custodian as of the close of business on October 23, 2009;

 

WHEREAS, the parties agree that the list of Funds that are parties to the Custody Agreement is set forth on Schedule II to the Custody Agreement (which has been amended and attached as Exhibit A to prior amendments to the Custody Agreement) (“Schedule II to the Custody Agreement” or “Exhibit A”), and the parties desire to amend the list of Funds to add the funds specified in this Amendment;

 

WHEREAS, the parties agree that the list of Funds that are parties to the Joint Trading Account Custody Agreement, which is part of the Custody Agreement, is set forth on Schedule I to the Joint Trading Account Custody Agreement (which has been amended and attached as Exhibit B to prior amendments to the Custody Agreement) (“Schedule I to the Joint Trading Account Agreement” or “Exhibit B”), and the parties desire to amend the list of Funds to add the funds specified in this Amendment;

 

WHEREAS, the parties agree that the list of Funds that are parties to the Foreign Custody Agreement, which is part of the Custody Agreement, is set forth on Schedule I to the Foreign Custody Agreement (which has been attached as Exhibit C to in prior amendments) (“Schedule I to Foreign Custody Agreement” or “Exhibit C”), and the parties desire to amend the list of Funds to add the funds specified in this Amendment; and

 

WHEREAS, the parties agree that the Fee Schedule for Non-Money Market Funds, which is part of the Custody Agreement (which has been attached as Exhibit D in prior amendments (“Fee Schedule for Non-Money Market Funds” or “Exhibit D”), will apply to the funds specified herein, and the parties desire to add the funds specified in this Amendment to the funds subject to the Fee Schedule for Non-Money Market Funds.

 

AMENDMENT

 

NOW THEREFORE, intending to be legally bound, each of the Funds and the Custodian agree to the following amendments:

 

Each of Schedule II to the Custody Agreement (or Exhibit A), Schedule I to the Joint Trading Account Agreement (or Exhibit B), Schedule I to the Foreign Custody Agreement (or Exhibit C), and the Fee Schedule for Non-Money Market Funds (or Exhibit D) shall be, and hereby are, amended and updated to include the following new Funds:

 

Federated Municipal Securities Fund, Inc.

Federated Intermediate Municipal Trust, a portfolio of Intermediate Municipal Trust

Federated Michigan Intermediate Municipal Trust, a portfolio of Federated Municipal Securities Income Trust

Federated Municipal High Yield Advantage Fund, a portfolio of Federated Municipal Securities Income Trust

 

The agreements referenced herein shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of the day and year first written above.

 

ON BEHALF OF EACH OF THE FUNDS INDICATED ON SCHEDULE II OF THE CUSTODY AGREEMENT, AS AMENDED FROM TIME TO TIME

 

By: /s/ Richard A. Novak

Title: Treasurer

 

 

 

THE BANK OF NEW YORK MELLON

 

 

By: /s/ Andrew Pfeiffer

Title: Vice President

 

 

 
 

Fifth Amendment to the Custody Agreement

 

 

This Amendment is made as of November 13, 2009 to the Custody Agreement (the “Agreement”) dated June 7, 2005, amended November 7, 2007, September 5, 2008, September 8, 2009, and October 23, 2009 between the Funds listed on Schedule II attached hereto (each a "Fund") and The Bank of New York Mellon (the "Custodian").

 

Recitals

 

WHEREAS, the parties agree that the Fee Schedule for Money Market Funds, which is part of the Custody Agreement, which has been attached as Exhibit E in prior amendments (“Fee Schedule for Money Market Funds” or “Exhibit E”), will apply to the funds specified herein.

 

Amendment

 

WHEREAS, each Fund and the Custodian wish to modify the provisions of the Agreement as set forth below;

 

NOW THEREFORE, each the Fund and the Custodian agree to the following amendments.

 

Within Exhibit E, the section entitled “Compensating Balance Arrangement” is replaced in its entirety with Amended and Restated Exhibit E as attached hereto.

 

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of the day and year first written above.

 

On behalf of each of the Funds indicated on Schedule II attached hereto

 

 

By: /s/ Richard A. Novak

Title: Treasurer

 

 

 

THE BANK OF NEW YORK MELLON

 

 

By: /s/ Peter D. Holland

Title: Managing Director

 

 
 

 

Amended and Restated

Exhibit E

 

 

Compensating Balance Arrangement

 

Each Fund listed below and The Bank of New York Mellon (the “Bank”) have entered into an average compensating balance arrangement, which would allow the Funds to compensate the Bank for any overdrafts by maintaining a positive cash balance and conversely, on any day a Fund maintains a positive balance, the respective Fund will be permitted to overdraw the account as compensation, within the Maximum Daily Balance limits as established for each fund as listed below.

 

In each instance, Federal Reserve requirements for minimum balances (currently 10%), will be assessed. Therefore, all overdrafts must be compensated at 100% of the total and all positive balances will allow for an overdraft of up to 90% of the total (unless the positive balance is the result of an error on the part on the Bank, in which case the positive balance would be assessed at 100%). The Funds shall maintain the average compensating balance over quarterly periods (ending March, June, September and December for FGRF, FCRF and FMUTR; and ending February, May, August, and November for AGCR, USTCR and GOTMF). Average balances will be computed at the end of the quarter. Net positive balances will receive an earnings credit computed at the daily effective 90 – day T-Bill rate on the last day of a period. Net negative balances will be charged at the Fed Funds rate plus 1% on the last day of the period. Quarterly net credits or charges will be applied to the safekeeping fees. Credits that exceed the safekeeping fee will be carried over into the next billing period but must be applied in a 12 month cycle; all accumulated unapplied credits will expire in the final quarter of the cycle, i.e. in November or December. However, upon specific request from the Fund, Custodian at its discretion may agree to carry forward into the next 12 month cycle any accumulated credits, contingent on their application within a specified time period.

 

Credits are not redeemable for cash and will expire in the event the relationship with the Funds is terminated.

 

Maximum Daily Balances (“MDB”) limits have been determined for each fund. On days where the Funds exceed their MDBs, interest will be credited on 90% of the excess balance at the 90-day T-Bill rate or charged on 100% of the excess overdraft balance at the Fed Funds rate plus 1%, based on the day(s) the MDB’s were exceeded.

 

Maximum Daily Balance +/- $175 million

US Treasury Cash Reserves Fund (USTCR)

Government Obligations Tax Managed Fund (GOTMF)

 

Maximum Daily Balance +/- $75 million

Federated Municipal Trust Fund (FMUTR)

 

Maximum Daily Balance +/- $25 million

Federated Capital Reserves Fund (FCRF)

Federated Government Reserves Fund (FGRF)

Automated Government Cash Reserves (AGCR)

 
 

See Seventh Amendment, dated 9/1/10

 

 

Schedule II

 

 

 

Federated Capital Reserves Fund

Federated Government Reserve Fund

Federated Municipal Trust Fund

US Treasury Cash Reserve Fund

Automated Government Cash Reserves

Government Obligations Tax Managed Fund

 

 
 

 

Sixth Amendment to the Custody Agreement

 

 

This Amendment is made as of January 13, 2010 to the Custody Agreement (the “Agreement”) dated June 7, 2005, amended November 7, 2007, September 5, 2008, September 8, 2009, October 23, 2009, and November 13, 2009 between the Funds listed on Schedule II attached hereto (each a "Fund") and The Bank of New York Mellon (the "Custodian").

 

WHEREAS, each Fund and the Custodian wish to modify the provisions of the Agreement as set forth below;

 

NOW THEREFORE, each the Fund and the Custodian agree to the following amendment.

 

Each Exhibit A (“Schedule II to the Agreement”), Exhibit B (“Joint Trading Account Agreement Schedule I”), and Exhibit D (“Fee Schedule for Non-Money Market Funds”) is updated to include the following new Fund:

 

Federated Enhanced Treasury Income Fund

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of the day and year first written above.

 

On behalf of each of the Funds indicated on Schedule II attached hereto

 

By: /s/ Richard A. Novak

By: Richard A. Novak

Title: Treasurer

 

 

 

THE BANK OF NEW YORK MELLON

 

 

By: /s/ Peter D. Holland

By: Peter D. Holland

Title: Managing Director

 
 

See Seventh Amendment, dated 9/1/10

 

Amended and Restated

Custody Agreement

Schedule II

 

 

 

Federated Stock Trust

Federated Market Opportunity Fund

Federated California Municipal Income Fund

Federated North Carolina Municipal Income Fund

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Municipal Securities Fund

Intermediate Municipal Trust Fund

Michigan Intermediate Municipal Trust Fund

Federated Municipal High Yield Advantaged Fund

Federated Enhanced Treasury Income Fund

 

Federated Capital Reserve Fund

Federated Government Reserves Fund

Federated Municipal Trust Fund

US Treasury Cash Reserves Fund

Automated Government Cash Reserves

Government Obligations Tax Managed Fund

 

 

 

 

 
 

Seventh Amendment to the Custody Agreement

 

 

This Amendment is made as of September 1, 2010 to the Custody Agreement (the “Agreement”) dated June 7, 2005, amended November 7, 2007, September 5, 2008, September 8, 2009, October 23, 2009, November 13, 2009 and January 13, 2010, between the Funds listed on Schedule II of the Agreement, as amended and restated by Exhibit A attached hereto (each a "Fund") and The Bank of New York Mellon (the "Custodian").

 

WHEREAS, each Fund and the Custodian wish to modify the provisions of the Agreement as set forth below;

 

NOW THEREFORE, each Fund and the Custodian agree to the following amendment.

 

1.       The funds listed in Schedule II to the Agreement, Schedule I of the Joint Trading Account Agreement, and Schedule I of the Foreign Custody Manager Agreement are amended and restated to include the funds listed on Exhibit A attached hereto:

 

2.       Within the Non-Money Market Fund Fee Schedule, the section entitled “Funds” following the section entitled “Earnings Credit Arrangement” is replaced in its entirety with the section entitled “Funds” attached hereto as Exhibit B.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of the day and year first written above.

 

On behalf of each of the Funds indicated on Exhibit A attached hereto

 

By: /s/ Richard A. Novak

By: Richard A. Novak

Title: Treasurer

 

 

 

THE BANK OF NEW YORK MELLON

 

 

By: /s/ Peter D. Holland

By: Peter D. Holland

Title: Managing Director

 
 

Exhibit A

Schedule II of the Custody Agreement;

Schedule I of the Joint Trading Account Agreement;

Schedule I of the Foreign Custody Manager Agreement

 

 

 

A.       Non-Money Market Funds

 

Federated Enhanced Treasury Income Fund

Federated Global Equity Fund

Federated Global Macro Bond Fund

Federated Intermediate Municipal Trust

Federated Market Opportunity Fund

Federated MDT Stock Trust

Federated Michigan Intermediate Municipal Trust

Federated Municipal High Yield Advantage Fund

Federated Municipal Securities Fund, Inc.

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

 

B.       Money Market Funds

 

Federated Automated Government Cash Reserves

Federated Capital Reserves Fund

Federated Government Obligations Tax Managed Fund

Federated Government Reserves Fund

Federated Municipal Trust

Federated U.S. Treasury Cash Reserves

 
 

Exhibit B

Amended and Restated

Section entitled “Funds”

of the Non-Money Market Fund Fee Schedule

(Exhibit D to Amendment dated November 8, 2007)

 

FUNDS

 

Federated Enhanced Treasury Income Fund

Federated Global Equity Fund

Federated Global Macro Bond Fund

Federated Intermediate Municipal Trust

Federated Market Opportunity Fund

Federated MDT Stock Trust

Federated Michigan Intermediate Municipal Trust

Federated Municipal High Yield Advantage Fund

Federated Municipal Securities Fund, Inc.

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

 
 

EIGHTH AMENDMENT TO

CUSTODY AGREEMENT

 

THIS AMENDMENT TO CUSTODY AGREEMENT (“Amendment”) is by and between the registered investment companies listed on Schedule II to the Agreement, as may be amended from time to time, (each stand alone registered investment company and each Series a “Fund” and collectively the “Funds”) and The Bank of New York Mellon (the “Custodian”).

 

W I T N E S S E T H:

 

WHEREAS, the Funds and the Custodian are parties to that certain Custody Agreement (the “Agreement”) dated June 7, 2005, amended November 7, 2007, September 5, 2008, September 8, 2009, October 23, 2009, November 13, 2009, January 13, 2010 and September 1, 2010, between the Funds listed on Schedule II of the Agreement, as amended and restated by Exhibit A attached hereto and the Custodian.

 

WHEREAS, each Fund is registered as a management investment company, or a series thereof, under the Investment Company Act of 1940, as amended; and

 

WHEREAS, the Funds and the Custodian desire to amend the Agreement subject to the terms and conditions set forth herein.

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.       Article IX of the Agreement is hereby deleted in its entirety and replaced with the following language:

 

1.       The Agreement shall become effective on March 1, 2011 and shall remain in full force and effect for a period of four (4) years (the “Initial Term”) and shall automatically continue in full force and effect after such Initial Term unless either party terminates this Agreement by written notice to the other party at least six (6) months prior to the expiration of the Initial Term. Additionally, if the Custodian (or any of its affiliates) engages in (i) any act or omission which constitutes a breach of any representation, warranty, term, or obligation contained in this Agreement, which upon notice the Custodian has not cured within 5 business days or (ii) any act or omission which constitutes negligence, reckless misconduct, willful malfeasance, or lack of good faith in fulfilling the terms and obligations of this Agreement, then each Fund shall have the right to immediately terminate this Agreement.

In the event such notice is given by the Fund, it shall be accompanied by a copy of a resolution of the board of the Fund, certified by the Secretary or any Assistant Secretary, electing to terminate this Agreement and designating a successor Custodian or Custodians, each of which shall be a bank or trust company having not less than $2,000,000 aggregate capital, surplus and undivided profits.

In the event such notice is given by Custodian, the Fund shall, on or before the termination date, deliver to Custodian a copy of a resolution of the board of the Fund, certified by the Secretary or any Assistant Secretary, designating a successor Custodian or Custodians. In the absence of such designation by the Fund, Custodian may designate a successor Custodian which shall be a bank or trust company having not less than $2,000,000 aggregate capital, surplus and undivided profits. Upon the date set forth in such notice this Agreement shall terminate, and Custodian shall upon receipt of a notice of acceptance by the successor Custodian on that date deliver directly to the successor Custodian all Securities and money then owned by the Fund and held by it as Custodian, after deducting any fees, expenses and other accounts for the payment or reimbursement of which it shall then be entitled.

2.        If a successor Custodian is not designated by the Fund or Custodian in accordance with the preceding Section, the Fund shall upon the date specified in the notice of termination of this Agreement and upon the delivery by Custodian of all Securities (other than Securities which cannot be delivered to the Fund) and money then owned by the Fund be deemed to be its own Custodian and Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities which cannot be delivered to the Fund to hold such Securities hereunder in accordance with this Agreement.

 

2.       The Agreement shall remain in full force and effect as amended by this Amendment.

 

 

 

 

[Remainder of Page Intentionally Left Blank]

 

 
 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of March 1, 2011.

 

Each of the registered investment companies or series

thereof listed on Schedule II to the Custody

Agreement, as amended from time to time

 

By: /s/ Richard A. Novak

Name: Richard A. Novak

Title: Treasurer

 

 

THE BANK OF NEW YORK MELLON

 

By: /s/ Andrew Pfeifer

Title: Vice President

 
 

NINTH AMENDMENT TO

CUSTODY AGREEMENT

 

THIS AMENDMENT TO CUSTODY AGREEMENT (“Amendment”) is by and between the registered investment companies listed on Schedule II to the Agreement, as may be amended from time to time, (each stand alone registered investment company and each Series a “Fund” and collectively the “Funds”) and The Bank of New York Mellon (the “Custodian”).

W I T N E S S E T H:

 

WHEREAS, the Funds and the Custodian are parties to that certain Custody Agreement (the “Agreement”) dated June 7, 2005, amended November 7, 2007, September 5, 2008, September 8, 2009, October 23, 2009, November 13, 2009, January 13, 2010, September 1, 2010, and March 1, 2011, between the Funds listed on Schedule II of the Agreement, as amended and restated by Exhibit A attached hereto and the Custodian;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Custodian desire to add Funds to Schedule II, effective March 25, 2011; and

 

WHEREAS, the Funds and the Custodian desire to amend the Agreement subject to the terms and conditions set forth herein.

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.       The Funds listed in Schedule II to the Agreement, Schedule I of the Joint Trading Account Agreement, and Schedule I of the Foreign Custody Manager Agreement are amended and restated to include the funds listed on Exhibit A attached hereto.

 

2.       Within the Non-Money Market Fund Fee Schedule, the section entitled “Funds” following the section entitled “Earnings Credit Arrangement” is replaced in its entirety with the section entitled “Funds” attached hereto as Exhibit B.

 

3.       The Agreement shall remain in full force and effect as amended by this Amendment.

 

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of March 25, 2011.

 

Each of the registered investment companies or series

thereof listed on Exhibit A attached hereto

By: /s/ Richard A. Novak

Name: Richard A. Novak

Title: Treasurer

 

THE BANK OF NEW YORK MELLON

 

By: /s/ Andrew Pfeifer

Title: Vice President

 
 

Exhibit A

Schedule II of the Custody Agreement;

Schedule I of the Joint Trading Account Agreement;

Schedule I of the Foreign Custody Manager Agreement

 

 

 

A.       Non-Money Market Funds

 

Federated Enhanced Treasury Income Fund

Federated Global Equity Fund

Federated InterContinental Fund

Federated Intermediate Municipal Trust

Federated International Bond Fund

Federated International Bond Strategy Portfolio

Federated Emerging Market Debt Fund

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated Market Opportunity Fund

Federated MDT Stock Trust

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Securities Fund, Inc.

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Intermediate Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Prudent DollarBear Fund

Federated Short-Intermediate Duration Municipal Trust

Federated Unconstrained Bond Fund

 

 

B.       Money Market Funds

 

Federated Automated Government Cash Reserves

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated Municipal Trust

Federated U.S. Treasury Cash Reserves

 
 

Exhibit B

Amended and Restated

Section entitled “Funds”

of the Non-Money Market Fund Fee Schedule

(Exhibit D to Amendment dated November 8, 2007)

 

FUNDS

 

Federated Enhanced Treasury Income Fund

Federated Global Equity Fund

Federated InterContinental Fund

Federated Intermediate Municipal Trust

Federated International Bond Fund

Federated International Bond Strategy Portfolio

Federated Emerging Market Debt Fund

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated Market Opportunity Fund

Federated MDT Stock Trust

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Securities Fund, Inc.

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Intermediate Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Prudent DollarBear Fund

Federated Short-Intermediate Duration Municipal Trust

Federated Unconstrained Bond Fund

 
 

TENTH AMENDMENT TO

CUSTODY AGREEMENT

 

THIS AMENDMENT (“Amendment”) TO THE CUSTODY AGREEMENT dated June 7, 2005, amended November 7, 2007, September 5, 2008, September 8, 2009, October 23, 2009, November 13, 2009, January 13, 2010, September 1, 2010, March 1, 2011 and March 25, 2011 (the “Agreement”), by and between the registered investment companies listed on Schedule II to the Agreement, as may be amended from time to time (each stand alone registered investment company and each Series a “Fund” and collectively the “Funds”), and The Bank of New York Mellon (the “Custodian”).

 

WHEREAS, each Fund is registered as a management investment company, or certain services thereof, under the Investment Company Act of 1940, as amended; and

 

WHEREAS, the Funds and the Custodian desire to amend the Agreement subject to the terms and conditions set forth herein.

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.       All capitalized terms used but not defined herein shall have the meanings ascribed to them in the Agreement.

 

2.       The following article shall be added to the Agreement as a new Article XI “CUSTODY OF LOAN DOCUMENT FILES AND RELATED SERVICES”:

1.       As used in this Article XI, the following terms shall have the meanings set forth below:

“Loan Document File” shall mean a hard copy file delivered to and received by Custodian hereunder.

“Loan Documents” shall mean all documents and instruments relating to any Loans (as hereinafter defined), including, without limitation, loan or credit agreements, assignment and acceptance agreements, promissory notes, participation agreements, deeds, mortgages and security agreements contained in a Loan Document File.

“Loans” shall mean the bank loans or loan commitments held in the Fund.

“Servicer” shall mean the agent appointed by the applicable Fund to service the Loans, which initially shall be the Custodian, provided that the parties have entered into a separate loan servicing agreement (the “Loan Servicing Agreement”).

2.       It is understood and agreed that unless Custodian and the Fund enter into a duly executed Loan Servicing Agreement, all references to the Servicer hereunder shall refer to a person or entity other than Custodian. Upon execution of such Loan Servicing Agreement, all such references shall be to Custodian.

3.       The Servicer, as agent for the Fund, shall be solely responsible for the servicing of all Loans. All payments by or on behalf of borrowers under the Loans received by Custodian shall be credited to the Account.

4.       It is understood and agreed that Custodian shall have no responsibility for maintaining any records of account activity relating to each Loan, including without limitation, all amortization schedules, records of transfer, pay-off, assignment, participation, sale, modification, termination or other changes in the Loans, except as provided for in the Loan Servicing Agreement between the Funds and Custodian dated March 25, 2011.

5.       Upon origination, modification or other change in any Loan, the Fund shall promptly deliver or cause to be delivered to Custodian all relevant Loan Documents. It is understood and agreed that Custodian will accept any file purporting to be a Loan Document File for custody hereunder “as is” and without any examination. Any duty Custodian may have to review or inspect any Loan Documents or to determine the contents of Loan Document Files shall only be pursuant to the terms and conditions of the Loan Servicing Agreement. No such duties or obligations shall be imposed on Custodian under the Agreement. Under no circumstances will Custodian be required to issue a trust receipt (or similar instrument) with respect to the Loan Document Files or their contents. Account statements will only reflect an inventory of the Loan Document Files that Custodian holds in custody hereunder without any representation as to the contents thereof.

6.       No director, officer, employee or agent of the Fund shall have physical access to the Loan Document Files or be authorized or permitted to withdraw any Loan Documents nor shall Custodian deliver any Loan Documents to any such person, unless such access or withdrawal has been duly authorized by a resolution of the board of directors of the Fund. All such access shall be by two or more persons jointly, at least one of whom is an officer of the Fund.

 

3.       All Loan Documents and Loan Document Files in the possession of the Custodian are and shall remain the property of the Fund.

 

4.       This Amendment shall be governed by and construed in accordance with the laws of the State of New York. This Amendment shall become effective as of the date hereof upon execution by the parties hereto. From and after the execution hereof, any reference to the Agreement shall be a reference to the Agreement as amended hereby. In the event of any conflict between the terms of this Amendment and the terms of the Agreement, the terms of the Amendment shall control. Except as amended hereby, the Agreement shall remain in full force and effect and is hereby ratified and confirmed by the parties thereto.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of March 25, 2011.

 

Each of the registered investment companies or series
thereof listed on Schedule II to the Agreement

By: /s/ Richard A. Novak

Name: Richard A. Novak

Title: Treasurer

 

 

THE BANK OF NEW YORK MELLON

 

By: /s/ Mary Jean Milner

Title: Vice President

 
 

LOAN SERVICING ANNEX AND SUPPLEMENT

TO THE CUSTODY AGREEMENT

 

This Loan Servicing Annex and Supplement (the “Loan Servicing Agreement”) a part of the Custody Agreement dated June 7, 2005, amended November 7, 2007, September 5, 2008, September 8, 2009, October 23, 2009, November 13, 2009, January 13, 2010, September 1, 2010, March 1, 2011, and March 25, 2011 (the “Custody Agreement”), between the registered investment companies listed on Schedule II to the Custody Agreement, as may be amended from time to time (each stand alone registered investment company and each Series a “Fund” and collectively the “Funds”) and The Bank of New York Mellon (the “Custodian”). Capitalized terms used but not defined shall have the meanings ascribed to them in the Custody Agreement.

 

WHEREAS, the Funds and the Custodian desire to supplement the Custody Agreement to provide for the servicing of loans held as assets of the Funds, subject to the terms and conditions set forth herein.

 

NOW THEREFORE, in consideration of the premises and the agreements, covenants and representations herein contained, the parties hereto agree as follows:

 

1.       The Services. Custodian shall provide to the Funds the services described in Exhibit A attached hereto (which services are hereinafter referred to as the “Services”). The Funds shall, promptly after the date hereof, deliver or cause to be delivered to Custodian copies of all documents and information listed on Schedule II to this Loan Servicing Agreement relating to the loans or loan commitments (the “Loans”) being serviced for the loan portfolio(s) described on Exhibit A-1 (the “Portfolio(s)”).

 

2.       Service Fees. In consideration of the performance of the Services by Custodian, each Fund shall pay Custodian in accordance with the fee arrangements set forth on Schedule I to this Loan Servicing Agreement (the “Service Fees”). Except for such sums as are payable upon the execution hereof, if any, Custodian shall send an invoice for the Service Fees to the applicable Fund within thirty (30) days after the end of each calendar quarter during the term hereof and such invoice shall be payable upon receipt.

 

3.       Delegation. Custodian is hereby authorized to assign its rights and delegate its duties hereunder to a BNY Affiliate, whenever and on such terms and conditions as it deems necessary or appropriate to perform its services hereunder, without any further notice to the Funds. The Funds agree to be bound by all actions taken by such BNY Affiliate pursuant to the preceding sentence to the same extent as if they were taken by Custodian, it being understood and agreed that no such assignment or delegation shall discharge Custodian from its obligations hereunder. Accordingly, Custodian is fully responsible to the Funds for the acts or omissions of such BNY Affiliate under the Agreement to the same extent that Custodian would be liable for such acts or omissions had Custodian not delegated such services to such BNY Affiliate. If so advised by Custodian, the Funds shall provide Instructions or other information directly to such BNY Affiliate rather than to Custodian.

 

4.       Notice of Default. Custodian shall not be deemed to have knowledge or notice of the occurrence of any default or event of default under the Loans unless Custodian has received notice from a Fund referring to this Loan Servicing Agreement, describing such default or event of default and stating that such notice is a “notice of default.” Such notice will be delivered in a manner permitted under the Custody Agreement. Custodian shall take such action with respect to such default or event of default as shall be reasonably directed by such Fund; provided that unless and until Custodian shall have received such directions, Custodian may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such default or event of default as it shall deem advisable in the best interests of such Fund.

 

5.       Non-Reliance by the Funds. The Funds expressly acknowledge that neither Custodian nor any of its officers, directors, employees, agents, attorneys, attorneys-in-fact or affiliates have made any representations or warranties pursuant to this Loan Servicing Agreement and that no act by Custodian hereafter taken, including, without limitation, any review of the affairs of any borrower or any affiliate of any borrower, shall be deemed to constitute any representation or warranty by Custodian with respect to the Loans. The Funds represent to Custodian that they have, independently and without reliance upon Custodian, and based on such documents and information as they shall deem appropriate at the time, made their own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness of any borrower and its affiliates and made their own decisions to make and/or purchase the Loans. The Funds also represent that they will, independently and without reliance upon Custodian, and based on such documents and information as they shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action with respect to the Loans, and to make such investigation as they deem necessary to inform them as to the business, operations, property, financial and other condition and creditworthiness of any borrower. Except for notices, reports and other documents expressly required to be furnished to the Funds by the Custodian, Custodian shall not have any duty or responsibility to provide the Funds with any credit or other information concerning the business, operations, property, condition (financial or otherwise), prospects or creditworthiness of any borrower that may come into the possession of the Custodian or any of its officers, directors, employees, agents, attorneys, attorneys-in-fact or affiliates.

 

6.       Advances. Custodian shall not be obligated to make any advances or make any payments to any party out of its own funds and no provision of this Loan Servicing Agreement or any other document executed in connection herewith shall require Custodian to expend or risk its own funds in the performance of any of its duties hereunder.

 

7.       Event of Default by Custodian. The following shall constitute a “Custodian Event of Default” hereunder:

 

The commencement of a case or other proceeding seeking liquidation, reorganization or other similar relief with respect to Custodian or its debts under any bankruptcy, insolvency or similar law or seeking the appointment of a receiver, trustee, liquidator, conservator, administrator, custodian or other similar official for Custodian or Custodian’s property and such decree or order shall have remained in force undischarged or unstayed for a period of thirty (30) days.

 

8.       Event of Default by a Fund. The following shall constitute a “Fund Event of Default” hereunder:

 

The commencement of a case or other proceeding seeking liquidation, reorganization or other similar relief with respect to a Fund or its debts under any bankruptcy, insolvency or similar law or seeking the appointment of a receiver, trustee, liquidator, conservator, administrator, custodian or other similar official for such Fund or such Fund’s property and such decree or order shall have remained in force undischarged or unstayed for a period of thirty (30) days.

 

9.       Remedies.

 

(a) If a Custodian Event of Default shall occur, the Funds may terminate this Loan Servicing Agreement immediately upon the delivery of written notice to Custodian, and shall, subject to the limitations contained in the Custody Agreement, be entitled to any and all other rights and remedies under law or in equity.

 

(b) If a Fund Event of Default shall occur, Custodian may terminate this Loan Servicing Agreement and resign immediately upon the delivery of written notice to the Funds, and shall, subject to the limitations contained in the Custody Agreement, be entitled to any and all other rights and remedies under law or in equity.

 

10.       Termination for No Cause. Either Custodian or the Funds may terminate: (a) this Loan Servicing Agreement in its entirety or (b) the Services as to any particular portfolio of loans or as to a loan or loans without terminating this Loan Servicing Agreement in its entirety, for any or no reason upon the providing of ninety (90) days’ advance written notice to the other parties.

 

11.       NOTICE REQUIRED BY THE USA PATRIOT ACT. Each Fund hereby acknowledges that Custodian is subject to federal laws, including the Customer Identification Program (CIP) requirements under the USA PATRIOT Act and its implementing regulations, pursuant to which Custodian must obtain, verify and record information that allows Custodian to identify its customers. Accordingly Custodian will ask the Funds to provide certain information including, but not limited to, the name of each Fund, physical address, tax identification number and other information that will help Custodian to identify and verify each Fund’s identity such as organizational documents, ownership, certificate of good standing, license to do business, or other pertinent identifying information.

 

12.       Custody Agreement. The parties understand and agree that this Loan Servicing Agreement shall be subject to the term and conditions of the Custody Agreement. In the event of any inconsistency between the terms and conditions of the Custody Agreement and the Loan Servicing Agreement, the terms and conditions of the Loan Servicing Agreement shall govern.

 

 

[The Remainder of this page is intentionally left blank]

 
 

IN WITNESS WHEREOF, the parties have caused this Loan Servicing Agreement to be executed by their respective officers, thereunto duly authorized, as of March 25, 2011.

 

 

THE BANK OF NEW YORK MELLON

Each of the registered investment companies or

series thereof listed on Schedule II to the Custody Agreement

   
By:  /s/ Mary Jean Milner By:  /s/ Richard A. Novak
Name:  Mary Jean Milner Name:  Richard A. Novak
Title:  Vice President Title:  Treasurer

 

 

 
 

EXHIBIT A

Schedule of Services

1.With respect to the Loans to be serviced hereunder, the parties agree that Custodian shall perform the following services for each Fund whose Portfolio(s) are identified in Exhibit A-1 (the “Services”):

 

(a)Set-Up / File Maintenance.
(i)Custodian shall accept from the Fund or its designee, the relevant information pertaining to the Loans, and thereafter maintain paper or electronic copies of same in Custodian’s system, including as available or appropriate, copies of all new assignment and acceptance agreements, participation agreements, funding memoranda, current loan or credit agreements. Copies of such information shall be retained by Custodian for the period(s) required by the Investment Company Act of 1940, as amended, and the rules thereunder.
(ii)Enter into the Custodian’s loan tracking system, and maintain a loan database containing information provided to the Custodian from time to time by the Fund or agent banks for the Loans with respect to (i) the obligor name for each Loan, (ii) the principal and interest payments made or to be made on the Loans, (iii) the applicable interest rate, interest rate resets and interest accrual periods of each Loan, (iv) the principal balance of each Loan and (v) the funded and commitment balances of, and commitment fees for, each Loan (“Loan Information”).
(iii)Notwithstanding the foregoing, Custodian as servicer for the Loans, shall not be obligated to accept nor be responsible for holding or safekeeping originals of any securities, promissory notes, certificates of equity or debt ownership or obligations, deeds, mortgages, bonds, security agreements, any other type of negotiable instrument, or any other document related to the Loans.
(iv)Additionally, the parties agree that, whereas it is necessary hereunder for Custodian to expeditiously obtain and process information, including notices, derived from third-parties, including agents for the Loans, (particularly in connection with providing any reports to the Fund), Custodian shall be entitled to rely upon such third-party information and shall not be required to verify or authenticate in any manner such information. Custodian will be deemed to have acted reasonably in accepting, using and transmitting such information, as contemplated herein.

(b)       Assignments / Pay-Offs / Terminations.

(i)Custodian shall further maintain records of information it receives regarding the transfer, pay-off, assignment, participation, sale, modification, termination or other changes in the Loans, and reflect such changes in its system, and in the Reports.

(c)       Inquiries/ Record Keeping.

(i)Custodian shall maintain electronic records of material notices it receives from the administrative agents of the Loans regarding the Loans and transactions with respect to the Loans for a period of seven years from receipt.
(ii)Custodian will provide initial response to e-mail or telephone inquiries by the Fund about the Loan within 2 Business Days.
 
 

 

EXHIBIT A-1

 

List of Portfolios

 

Federated Emerging Market Debt Fund

 
 

 

Schedule I

Fee Schedule

 

Custodian agrees to waive its Service Fees for Services provided to the Federated Emerging Market Debt Fund for the servicing of the following Loan:

 

Cooperativa dos Agricultores da Regiao de Orlandia (CAROL BL) – Term Loan, 4.050%, 9/28/2011

Asset ID: 1439999D4

Par: 600,000

 

 

 

 

 

 

 

 

 

 
 

Schedule II

 

For each Loan purchased by the Portfolio acquired after the execution of this Loan Servicing Agreement:

 

1.Assignment and Acceptance Agreement or Participation Agreement
2.Funding Memorandum
3.Credit Agreement, if necessary
4.Amendments to the Credit Agreement, if any
5.Current Amortization Schedule for each Loan, if any

 

 

 

 

 
 

ELEVENTH AMENDMENT TO

CUSTODY AGREEMENT

 

THIS AMENDMENT TO CUSTODY AGREEMENT (“Amendment”) is by and between the registered investment companies listed on Schedule II to the Agreement, as may be amended from time to time, (each stand alone registered investment company and each Series a “Fund” and collectively the “Funds”) and The Bank of New York Mellon (the “Custodian”).

W I T N E S S E T H:

 

WHEREAS, the Funds and the Custodian are parties to that certain Custody Agreement (the “Agreement”) dated June 7, 2005, amended November 7, 2007, September 5, 2008, September 8, 2009, October 23, 2009, November 13, 2009, January 13, 2010, September 1, 2010, March 1, 2011, March 25, 2011 and August 1, 2012, between the Funds listed on Schedule II of the Agreement, as amended and restated by Exhibit A attached hereto and the Custodian;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Custodian desire to amend the names of certain Funds to Schedule II, effective August 1, 2012; and

 

WHEREAS, the Funds and the Custodian desire to amend the Agreement subject to the terms and conditions set forth herein.

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.       The Funds listed in Schedule II to the Agreement, Schedule I of the Joint Trading Account Agreement, and Schedule I of the Foreign Custody Manager Agreement are amended and restated to include the funds listed on Exhibit A attached hereto.

 

2.       Within the Non-Money Market Fund Fee Schedule, the section entitled “Funds” following the section entitled “Earnings Credit Arrangement” is replaced in its entirety with the section entitled “Funds” attached hereto as Exhibit B.

 

3.       The Agreement shall remain in full force and effect as amended by this Amendment.

 

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of August 1, 2012.

 

Each of the registered investment companies or series

thereof listed on Exhibit A attached hereto

By: /s/ Richard A. Novak

Name: Richard A. Novak

Title: Treasurer

 

THE BANK OF NEW YORK MELLON

 

By: /s/ Mary Jean Milner

Title: Vice President

 
 

Exhibit A

Schedule II of the Custody Agreement;

Schedule I of the Joint Trading Account Agreement;

Schedule I of the Foreign Custody Manager Agreement

 

Revised 8/1/12

 

A.       Non-Money Market Funds

 

Federated Enhanced Treasury Income Fund

Federated Global Equity Fund

Federated InterContinental Fund

Federated Intermediate Municipal Trust

Federated International Bond Fund

Federated International Bond Strategy Portfolio

Federated Emerging Market Debt Fund

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated Prudent Absolute Return Fund (formerly, Federated Market Opportunity Fund)

Federated MDT Stock Trust

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Securities Fund, Inc.

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Intermediate Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Prudent DollarBear Fund

Federated Short-Intermediate Duration Municipal Trust

Federated Unconstrained Bond Fund

 

 

B.       Money Market Funds

 

Federated Automated Government Cash Reserves

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated Municipal Trust

Federated U.S. Treasury Cash Reserves

 
 

Exhibit B

Amended and Restated

Section entitled “Funds”

of the Non-Money Market Fund Fee Schedule

(Exhibit D to Amendment dated November 8, 2007)

 

FUNDS

 

Federated Enhanced Treasury Income Fund

Federated Global Equity Fund

Federated InterContinental Fund

Federated Intermediate Municipal Trust

Federated International Bond Fund

Federated International Bond Strategy Portfolio

Federated Emerging Market Debt Fund

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated Prudent Absolute Return Fund (formerly, Federated Market Opportunity Fund)

Federated MDT Stock Trust

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Securities Fund, Inc.

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Intermediate Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Prudent DollarBear Fund

Federated Short-Intermediate Duration Municipal Trust

Federated Unconstrained Bond Fund

 

 

 
 

 

TWELFTH AMENDMENT TO

CUSTODY AGREEMENT

 

THIS AMENDMENT TO CUSTODY AGREEMENT (“Amendment”) is by and between the registered investment companies listed on Schedule II to the Agreement, as may be amended from time to time, (each stand alone registered investment company and each Series a “Fund” and collectively the “Funds”) and The Bank of New York Mellon (the “Custodian”).

W I T N E S S E T H:

 

WHEREAS, the Funds and the Custodian are parties to that certain Custody Agreement (the “Agreement”) dated June 7, 2005, amended November 7, 2007, September 5, 2008, September 8, 2009, October 23, 2009, November 13, 2009, January 13, 2010, September 1, 2010, March 1, 2011, March 25, 2011, August 1, 2012 and December 31, 2012, between the Funds listed on Schedule II of the Agreement, as amended and restated by Exhibit A attached hereto and the Custodian;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Custodian desire to amend the names of certain Funds to Schedule II, effective December 31, 2012; and

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.       The Funds listed in Schedule II to the Agreement, Schedule I of the Joint Trading Account Agreement, and Schedule I of the Foreign Custody Manager Agreement are amended and restated to include the funds listed on Exhibit A attached hereto.

 

2.       Within the Non-Money Market Fund Fee Schedule, the section entitled “Funds” following the section entitled “Earnings Credit Arrangement” is replaced in its entirety with the section entitled “Funds” attached hereto as Exhibit B.

 

3.       The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of December 31, 2012.

 

Each of the registered investment companies or series

thereof listed on Exhibit A attached hereto

 

By: /s/ Richard A. Novak

Name: Richard A. Novak

Title: Treasurer

 

THE BANK OF NEW YORK MELLON

 

 

By:

Title:

 
 

Exhibit A

Schedule II of the Custody Agreement;

Schedule I of the Joint Trading Account Agreement;

Schedule I of the Foreign Custody Manager Agreement

 

Revised 12/31/12

 

A.       Non-Money Market Funds

 

Federated Enhanced Treasury Income Fund

Federated Global Equity Fund

Federated InterContinental Fund

Federated Intermediate Municipal Trust

Federated International Bond Fund

Federated International Bond Strategy Portfolio

Federated Emerging Market Debt Fund

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated Absolute Return Fund (formerly, Federated Prudent Absolute Return Fund)

Federated MDT Stock Trust

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Securities Fund, Inc.

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Intermediate Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Prudent DollarBear Fund

Federated Short-Intermediate Duration Municipal Trust

Federated Unconstrained Bond Fund

 

 

B.       Money Market Funds

 

Federated Automated Government Cash Reserves

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated Municipal Trust

Federated U.S. Treasury Cash Reserves

 
 

Exhibit B

Amended and Restated

Section entitled “Funds”

of the Non-Money Market Fund Fee Schedule

(Exhibit D to Amendment dated November 8, 2007)

 

Revised 12/31/12

 

FUNDS

 

Federated Enhanced Treasury Income Fund

Federated Global Equity Fund

Federated InterContinental Fund

Federated Intermediate Municipal Trust

Federated International Bond Fund

Federated International Bond Strategy Portfolio

Federated Emerging Market Debt Fund

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated Absolute Return Fund (formerly, Federated Prudent Absolute Return Fund)

Federated MDT Stock Trust

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Securities Fund, Inc.

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Intermediate Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Prudent DollarBear Fund

Federated Short-Intermediate Duration Municipal Trust

Federated Unconstrained Bond Fund

 
 

 

Execution Copy

 

 

THIRTEENTH AMENDMENT

TO CUSTODY AGREEMENT

 

THIS AMENDMENT TO CUSTODY AGREEMENT (“Amendment”) is by and between the registered investment companies listed on Schedule II to the Agreement, as may be amended from time to time, (each stand alone registered investment company and each Series a “Fund” and collectively the “Funds”) and The Bank of New York Mellon (the “Custodian”):

 

W I T N E S S E T H:

 

WHEREAS, the Funds and the Custodian are parties to that certain Custody Agreement (the “Agreement”) dated June 7, 2005, amended November 7, 2007, September 5, 2008, September 8, 2009, October 23, 2009, November 13, 2009, January 13, 2010 September 1, 2010, March 1, 2011 and through two separate amendments each on March 25, 2011, between the Funds listed on Schedule II of the Agreement, as amended and restated by Exhibit A attached hereto (each a “Fund”) and The Bank of New York Mellon (the “Custodian”).

 

WHEREAS, each Fund is registered as a management investment company, or a series thereof, under the Investment Company Act of 1940, as amended; and

 

WHEREAS, the Funds and the Custodian desire to amend the Agreement subject to the terms and conditions set forth herein.

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.        Article V of the Agreement is hereby supplemented to include Section 3. As follows:

 

 

3.        Notwithstanding the foregoing, Custodian will not charge the Fund any overdraft fees, penalties, or related custody charges in connection with any transaction or series of related transactions for which Custodian did not provide Fund with notice, as soon as reasonably practicable under the circumstances, of any refusal to accept or provide a price for an Actionable Trade Request as such term is defined in the FX Standing Instructions Session Range Program Description dated December 18, 2012.

 

2.       The Agreement shall remain in full force and effect as amended by this Amendment.

 

 

 

 

 

[Remainder of Page Intentionally Left Blank]

 
 

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of September 24, 2013.

 

Each of the registered investment companies or series thereof listed on Schedule II to the Custody Agreement, as amended from time to time

 

By: /s/ Lori A. Hensler

Name: Lori A. Hensler

Title: Treasurer

 

 

THE BANK OF NEW YORK MELLON

 

 

 

By: /s/ Armando Fernandez

Name: Armando Fernandez

Title: Vice President

Managing Director

 
 

 

FOURTEENTH AMENDMENT TO

CUSTODY AGREEMENT

 

THIS AMENDMENT TO CUSTODY AGREEMENT (“Amendment”) is by and between the registered investment companies listed on Schedule II to the Agreement, as may be amended from time to time, (each stand alone registered investment company and each Series a “Fund” and collectively the “Funds”) and The Bank of New York Mellon (the “Custodian”).

W I T N E S S E T H:

 

WHEREAS, the Funds and the Custodian are parties to that certain Custody Agreement (the “Agreement”) dated June 7, 2005, amended November 7, 2007, September 5, 2008, September 8, 2009, October 23, 2009, November 13, 2009, January 13, 2010, September 1, 2010, March 1, 2011, two separate amendments dated March 25, 2011, August 1, 2012, December 31, 2012, September 24, 2013 and April 28, 2014, and between the Funds listed on Schedule II of the Agreement, as amended and restated by Exhibit A attached hereto and the Custodian;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Custodian desire to amend the names of certain Funds to Schedule II, effective April 28, 2014; and

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.       The Funds listed in Schedule II to the Agreement, Schedule I of the Joint Trading Account Agreement, and Schedule I of the Foreign Custody Manager Agreement are amended and restated to include the funds listed on Exhibit A attached hereto.

 

2.       Within the Non-Money Market Fund Fee Schedule, the section entitled “Funds” following the section entitled “Earnings Credit Arrangement” is replaced in its entirety with the section entitled “Funds” attached hereto as Exhibit B.

 

3.       The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of April 28, 2014.

 

Each of the registered investment companies or series

thereof listed on Exhibit A attached hereto

 

By: /s/ Lori A. Hensler

Name: Lori Hensler

Title: Treasurer

 

THE BANK OF NEW YORK MELLON

 

 

By: /s/ Armando Fernandez

Title: Vice President/Managing Director

 
 

Exhibit A

Schedule II of the Custody Agreement;

Schedule I of the Joint Trading Account Agreement;

Schedule I of the Foreign Custody Manager Agreement

 

Revised 4/28/14

 

A.       Non-Money Market Funds

 

Federated Enhanced Treasury Income Fund

Federated Emerging Markets Equity Fund (formerly, Federated Global Equity Fund)

Federated InterContinental Fund

Federated Intermediate Municipal Trust

Federated International Bond Fund

Federated International Bond Strategy Portfolio

Federated Emerging Market Debt Fund

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated Absolute Return Fund

Federated MDT Stock Trust

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Securities Fund, Inc.

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Intermediate Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Prudent DollarBear Fund

Federated Short-Intermediate Duration Municipal Trust

Federated Unconstrained Bond Fund

 

 

B.       Money Market Funds

 

Federated Automated Government Cash Reserves

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated Municipal Trust

Federated U.S. Treasury Cash Reserves

 
 

Exhibit B

Amended and Restated

Section entitled “Funds”

of the Non-Money Market Fund Fee Schedule

(Exhibit D to Amendment dated November 8, 2007)

 

Revised 4/28/14

 

FUNDS

 

Federated Enhanced Treasury Income Fund

Federated Emerging Markets Equity Fund (formerly, Federated Global Equity Fund)

Federated InterContinental Fund

Federated Intermediate Municipal Trust

Federated International Bond Fund

Federated International Bond Strategy Portfolio

Federated Emerging Market Debt Fund

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated Absolute Return Fund

Federated MDT Stock Trust

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Securities Fund, Inc.

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Intermediate Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Prudent DollarBear Fund

Federated Short-Intermediate Duration Municipal Trust

Federated Unconstrained Bond Fund

 
 

 

FIFTEENTH AMENDMENT TO

CUSTODY AGREEMENT

 

THIS AMENDMENT TO CUSTODY AGREEMENT (“Amendment”) is by and between the registered investment companies listed on Schedule II to the Agreement, as may be amended from time to time, (each stand alone registered investment company and each Series a “Fund” and collectively the “Funds”) and The Bank of New York Mellon (the “Custodian”).

W I T N E S S E T H:

 

WHEREAS, the Funds and the Custodian are parties to that certain Custody Agreement (the “Agreement”) dated June 7, 2005, amended November 7, 2007, September 5, 2008, September 8, 2009, October 23, 2009, November 13, 2009, January 13, 2010, September 1, 2010, March 1, 2011, two separate amendments dated March 25, 2011, August 1, 2012, December 31, 2012, September 24, 2013, April 28, 2014, and December 1, 2014 and between the Funds listed on Schedule II of the Agreement, as amended and restated by Exhibit A attached hereto and the Custodian;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Custodian desire to add certain Funds to the Schedules; and

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.       The Funds listed in Schedule II to the Agreement, Schedule I of the Joint Trading Account Agreement, and Schedule I of the Foreign Custody Manager Agreement are amended and restated to include the funds listed on Exhibit A attached hereto.

 

2.       Within the Non-Money Market Fund Fee Schedule, the section entitled “Funds” following the section entitled “Earnings Credit Arrangement” is replaced in its entirety with the section entitled “Funds” attached hereto as Exhibit B.

 

3.       The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of December 1, 2014.

 

Each of the registered investment companies or series

thereof listed on Exhibit A attached hereto

 

By: Lori A. Hensler

Name: Lori Hensler

Title: Treasurer

 

THE BANK OF NEW YORK MELLON

 

 

By: /s/ Armando Fernandez

Title: Vice President/Managing Director

 
 

Exhibit A

Schedule II of the Custody Agreement;

Schedule I of the Joint Trading Account Agreement;

Schedule I of the Foreign Custody Manager Agreement

 

Revised 12/1/14

 

A.       Non-Money Market Funds

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Emerging Markets Equity Fund

Federated Enhanced Treasury Income Fund

Federated InterContinental Fund

Federated Intermediate Municipal Trust

Federated International Bond Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Stock Trust

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Securities Fund, Inc.

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Intermediate Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Prudent DollarBear Fund

Federated Short-Intermediate Duration Municipal Trust

Federated Unconstrained Bond Fund

 

 

B.       Money Market Funds

 

Federated Automated Government Cash Reserves

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated Municipal Trust

Federated U.S. Treasury Cash Reserves

 
 

Exhibit B

Amended and Restated

Section entitled “Funds”

of the Non-Money Market Fund Fee Schedule

(Exhibit D to Amendment dated November 8, 2007)

 

Revised 12/1/14

 

FUNDS

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Emerging Markets Equity Fund

Federated Enhanced Treasury Income Fund

Federated InterContinental Fund

Federated Intermediate Municipal Trust

Federated International Bond Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Stock Trust

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Securities Fund, Inc.

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Intermediate Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Prudent DollarBear Fund

Federated Short-Intermediate Duration Municipal Trust

Federated Unconstrained Bond Fund

 
 

 

Sixteenth Amendment to the Custody Agreement

 

 

This Sixteenth Amendment to the Custody Agreement, is made on May 14, 2015 with certain varying effective dates with respect to certain entities as set forth herein (this “Amendment”), by and between the registered investment companies listed on Schedule II to the Agreement (as defined below), as may be amended from time to time (each stand-alone registered investment company and each Series a “Fund” and collectively the “Funds”), and The Bank of New York Mellon (the “Custodian”).

 

W I T N E S S E T H:

 

WHEREAS, the parties have entered into that certain Custody Agreement, dated June 7, 2005 (as amended fourteen times previously, supplemented and/or restated, the “Agreement”), by and between the Funds and the Custodian;

 

WHEREAS, the parties previously amended the Agreement to add or modify (1) the section entitled “Earnings Credit Arrangement” in the Fee Schedule for Non-Money Market Funds attached to the Agreement as Exhibit D thereto (“Exhibit D”) and (2) the section entitled “Compensating Balance Arrangement” in the Fee Schedule for Money Market Funds attached to the Agreement as Exhibit E thereto (“Exhibit E”);

 

WHEREAS, each of the Funds and the Custodian wish to confirm that the “Earnings Credit Arrangement” section in Exhibit D as set forth in Schedule 1 to this Amendment continues to apply to all Non-Money Market Funds to which it currently applies, except as specified below;

 

WHEREAS, each of the Funds and the Custodian also wish to modify the “Earnings Credit Arrangement” section in Exhibit D as set forth in Schedule 2 to this Amendment with respect to the Non-Money Market Funds identified below and in Schedule 2 to this Amendment; and

 

WHEREAS, each of the Funds and the Custodian also wish to modify the “Compensating Balance Arrangement” section in Exhibit E as set forth in Schedule 3, Schedule 4 and Schedule 5 to this Amendment with respect to the Money Market Funds identified below and in Schedule 3, Schedule 4 and Schedule 5 to this Amendment.

 

NOW THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.              Amendment to Exhibit D. The parties hereby confirm and agree that the “Earnings Credit Arrangement” section in Exhibit D set forth in Schedule 1 to this Amendment continues to apply to all Non-Money Market Funds to which it currently applies, except that, effective from and after April 1, 2014, with respect to Federated Short-Intermediate Duration Municipal Trust and Federated Municipal Ultrashort Fund, such section in Exhibit D will be deleted in its entirety and replaced with the “Compensating Balance Arrangement” section set forth in Schedule 2 to this Amendment.

 

2.              Amendment to Exhibit E. The parties hereby confirm and agree that the “Compensating Balance Arrangement” section in Exhibit E shall be amended as follows:

 

(a)       Effective from and after April 1, 2014, with respect to Federated Capital Reserves Fund and Federated Government Reserves Fund, such section in Exhibit E will be deleted in its entirety and replaced with the “Hard Dollar Compensation Arrangement” section set forth in Schedule 3 to this Amendment;

 

(b)       Effective from and after April 1, 2014, with respect to Federated Municipal Trust, such section in Exhibit E will be deleted in its entirety and replaced with the “Compensating Balance Arrangement” section set forth in Schedule 4 to this Amendment;

 

(c)       Effective from and after June 1, 2014, with respect to US Treasury Cash Reserves, Automated Government Cash Reserves, and Government Obligations Tax Managed Fund, such section in Exhibit E will be deleted in its entirety and replaced with the “Compensating Balance Arrangement” section set forth in Schedule 5 to this Amendment.

 

3.     Miscellaneous. This Amendment constitutes the complete understanding and agreement of the parties with respect to the subject matter hereof and supersedes all prior communications with respect thereto. The Agreement, as amended hereby, shall remain in full force and effect. This Amendment may be executed in any number of counterparts, each of which shall be deemed an original, but such counterparts shall, together, constitute only one instrument. The facsimile signature of any party to this Amendment shall constitute the valid and binding execution hereof by such party. This Amendment shall be construed in accordance with the substantive laws of the State of New York, without regard to conflicts of laws principles thereof.

 

[Signature Page Follows]

 
 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of the day and year first written above.

 

THE BANK OF NEW YORK MELLON EACH OF THE REGISTERED INVESTMENT COMPANIES OR SERIES THEREOF LISTED ON SCHEDULE II TO THE AGREEMENT
   
   
By: /s/ Armando Fernandez By:  /s/ Lori A. Hensler

 

Name: Armando Fernandez

 

Name: Lori A. Hensler

 

Title: Vice President/Managing Director

 

Title: Treasurer for the Funds

 
 

 

SCHEDULE 1

 

 

[          ]

 

 

 

 

 

 
 

 

SCHEDULE 2

 

“COMPENSATING BALANCE ARRANGEMENT” SECTION IN EXHIBIT D

AS APPLICABLE TO FEDERATED SHORT-INTERMEDIATE DURATION MUNICIPAL TRUST AND FEDERATED MUNICIPAL ULTRASHORT FUND

 

Compensating Balance Arrangement

 

Each Fund and The Bank of New York Mellon (the “Bank”) have entered into an average compensating balance arrangement, which would allow a Fund to compensate the Bank for any overdrafts by maintaining a positive cash balance and conversely, on any day a Fund maintains a positive balance, the respective Fund will be permitted to overdraw the account as compensation, within the Maximum Daily Balance limits as established for each Fund as listed below.

 

In each instance, Federal Reserve requirements for minimum balances (currently 10%), will be assessed. Therefore, all overdrafts must be compensated at 100% of the total and all positive balances will allow for an overdraft of up to 90% of the total (unless the positive balance is the result of an error on the part of the Bank, in which case the positive balance would be assessed at 100%). The Funds shall maintain the average compensating balance over quarterly periods (ending March, June, September, and December). Average balances will be computed at the end of the quarter. Net negative balances will be charged at the Fed Funds rate plus 1% on the last day of the period. Quarterly net charges will be applied to the safekeeping fees. Credit is not given for net positive balances.

 

Maximum Daily Balance (“MDB”) limits have been determined for each Fund. On days where a Fund exceeds its MDB, interest will be charged on 100% of the excess overdraft balance at the Fed Funds rate plus 1%, based on the day(s) the MDB was exceeded.

 

Maximum Daily Balance +/- $25 million

Federated Short-Intermediate Duration Municipal Trust

Federated Municipal Ultrashort Fund

 

 
 

SCHEDULE 3

 

“HARD DOLLAR COMPENSATION ARRANGEMENT” SECTION IN EXHIBIT E

AS APPLICABLE TO Federated Capital Reserves Fund and
Federated Government Reserves Fund

 

Hard Dollar Compensation Arrangement

 

Each Fund and The Bank of New York Mellon (the “Bank”) have entered into a hard dollar compensation arrangement with respect to overdrafts as follows: (1) 100% of overdrawn balances with respect to a particular Fund will be charged at a rate of 50 basis points over the Fed Funds rate; (2) Monthly, such charge with respect to a particular Fund will be applied to such Fund’s safekeeping fees; and (3) Positive balances with respect to a Fund earn zero compensation.

 

 
 

SCHEDULE 4

 

“COMPENSATING BALANCE ARRANGEMENT” SECTION IN EXHIBIT E

AS APPLICABLE TO FEDERATED MUNICIPAL TRUST

 

Compensating Balance Arrangement

 

The Fund and The Bank of New York Mellon (the “Bank”) have entered into an average compensating balance arrangement, which would allow the Fund to compensate the Bank for any overdrafts by maintaining a positive cash balance and conversely, on any day the Fund maintains a positive balance, the Fund will be permitted to overdraw the account as compensation, within the Maximum Daily Balance limits as established for the Fund as listed below.

 

In each instance, Federal Reserve requirements for minimum balances (currently 10%), will be assessed. Therefore, all overdrafts must be compensated at 100% of the total and all positive balances will allow for an overdraft of up to 90% of the total (unless the positive balance is the result of an error on the part of the Bank, in which case the positive balance would be assessed at 100%). The Fund shall maintain the average compensating balance over quarterly periods (ending March, June, September, and December). Average balances will be computed at the end of the quarter. Net negative balances will be charged at the Fed Funds rate plus 1% on the last day of the period. Quarterly net charges will be applied to the safekeeping fees. Credit is not given for net positive balances.

 

Maximum Daily Balance (“MDB”) limits have been determined for the Fund. On days where the Fund exceeds its MDB, interest will be charged on 100% of the excess overdraft balance at the Fed Funds rate plus 1%, based on the day(s) the MDB was exceeded.

 

Maximum Daily Balance +/- $25 million

Federated Municipal Trust

 

 
 

SCHEDULE 5

 

“COMPENSATING BALANCE ARRANGEMENT” SECTION IN EXHIBIT E

AS APPLICABLE TO US TREASURY CASH RESERVES, AUTOMATED GOVERNMENT CASH RESERVES, AND GOVERNMENT OBLIGATIONS TAX MANAGED FUND

 

Compensating Balance Arrangement

 

Each Fund and The Bank of New York Mellon (the “Bank”) have entered into an average compensating balance arrangement, which would allow a Fund to compensate the Bank for any overdrafts by maintaining a positive cash balance and conversely, on any day a Fund maintains a positive balance, the respective Fund will be permitted to overdraw the account as compensation, within the Maximum Daily Balance limits as established for each Fund as listed below.

 

In each instance, Federal Reserve requirements for minimum balances (currently 10%), will be assessed. Therefore, all overdrafts must be compensated at 100% of the total and all positive balances will allow for an overdraft of up to 90% of the total (unless the positive balance is the result of an error on the part on the Bank, in which case the positive balance would be assessed at 100%). The Funds shall maintain the average compensating balance over quarterly periods (ending February, May, August, and November). Average balances will be computed at the end of the quarter. Net negative balances will be charged at the Fed Funds rate plus 1% on the last day of the period. Quarterly net charges will be applied to the safekeeping fees. Credit is not given for net positive balances.

 

Maximum Daily Balance (“MDB”) limits have been determined for each Fund. On days where a Fund exceeds its MDB, interest will be charged on 100% of the excess overdraft balance at the Fed Funds rate plus 1%, based on the day(s) the MDB was exceeded.

 

Maximum Daily Balance +/- $150 million

Federated U.S. Treasury Cash Reserves

 

Maximum Daily Balance +/- $100 million

Federated Government Obligations Tax Managed Fund

 

Maximum Daily Balance +/- $25 million

Federated Automated Government Cash Reserves

 

 
 

 

SEVENTEENTH AMENDMENT TO

CUSTODY AGREEMENT

 

THIS AMENDMENT TO CUSTODY AGREEMENT (“Amendment”) is by and between the registered investment companies listed on Schedule II to the Agreement, as may be amended from time to time, (each stand alone registered investment company and each Series a “Fund” and collectively the “Funds”) and The Bank of New York Mellon (the “Custodian”).

W I T N E S S E T H:

 

WHEREAS, the Funds and the Custodian are parties to that certain Custody Agreement (the “Agreement”) dated June 7, 2005, as amended, and between the Funds listed on Schedule II of the Agreement, as amended and restated by Exhibit A attached hereto and the Custodian;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Custodian desire to add certain Funds to the Schedules; and

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.       The Funds listed in Schedule II to the Agreement, Schedule I of the Joint Trading Account Agreement, and Schedule I of the Foreign Custody Manager Agreement are amended and restated to include the funds listed on Exhibit A attached hereto.

 

2.       Within the Non-Money Market Fund Fee Schedule, the section entitled “Funds” following the section entitled “Earnings Credit Arrangement” is replaced in its entirety with the section entitled “Funds” attached hereto as Exhibit B.

 

3.       The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of June 26, 2015.

 

Each of the registered investment companies or series

thereof listed on Exhibit A attached hereto

 

By: /s/ Lori A. Hensler

Name: Lori Hensler

Title: Treasurer

 

THE BANK OF NEW YORK MELLON

 

 

By: /s/ Armando Fernandez

Title: Vice President, Managing Director

 
 

Exhibit A

Schedule II of the Custody Agreement;

Schedule I of the Joint Trading Account Agreement;

Schedule I of the Foreign Custody Manager Agreement

 

Revised 6/26/15

 

A.       Non-Money Market Funds

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Emerging Markets Equity Fund

Federated Enhanced Treasury Income Fund

Federated InterContinental Fund

Federated Intermediate Municipal Trust

Federated International Bond Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Stock Trust

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Securities Fund, Inc.

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Intermediate Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Prudent DollarBear Fund

Federated Short-Intermediate Duration Municipal Trust

Federated Unconstrained Bond Fund

 

 

B.       Money Market Funds

 

Federated Automated Government Cash Reserves

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated Municipal Trust

Federated U.S. Treasury Cash Reserves

 
 

Exhibit B

Amended and Restated

Section entitled “Funds”

of the Non-Money Market Fund Fee Schedule

(Exhibit D to Amendment dated November 8, 2007)

 

Revised 6/26/15

 

FUNDS

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Emerging Markets Equity Fund

Federated Enhanced Treasury Income Fund

Federated InterContinental Fund

Federated Intermediate Municipal Trust

Federated International Bond Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Stock Trust

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Securities Fund, Inc.

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Intermediate Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Prudent DollarBear Fund

Federated Short-Intermediate Duration Municipal Trust

 

 

 

 

 
 

Eighteenth Amendment to the Custody Agreement

 

 

This Eighteenth Amendment to the Custody Agreement, is effective as of May 1, 2016 (this “Amendment”), by and between the registered investment companies listed on Schedule II to the Agreement (as defined below), as may be amended from time to time (each stand-alone registered investment company and each Series a “Fund” and collectively the “Funds”), and The Bank of New York Mellon (the “Custodian”).

 

W I T N E S S E T H:

 

WHEREAS, the parties have entered into that certain Custody Agreement, dated June 7, 2005 (as amended seventeen times previously, supplemented and/or restated, the “Agreement”), by and between the Funds and the Custodian;

 

WHEREAS, the parties have previously amended the Agreement with respect to various overdraft and compensating balance arrangements set forth in the Fee Schedule for Non-Money Market Funds attached to the Agreement as Exhibit D thereto (“Exhibit D”) and the Fee Schedule for Money Market Funds attached to the Agreement as Exhibit E thereto (“Exhibit E”), including to add or modify various “Earnings Credit Arrangements,” “Compensating Balance Arrangements” and “Hard Dollar Compensation Arrangements”; and

 

WHEREAS, each of the Funds and the Custodian wish to amend the overdraft and compensating balance arrangements between each of the Funds and the Custodian, including as set forth in the “Earnings Credit Arrangements,” “Compensating Balance Arrangements” and “Hard Dollar Compensation Arrangements” set forth in Exhibit D and Exhibit E, as set forth below.

 

NOW THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

4.     Amendment. The parties hereby confirm and agree that the overdraft and compensating balance arrangements between each of the Funds and the Custodian, including as set forth in the “Earnings Credit Arrangements,” “Compensating Balance Arrangements” and “Hard Dollar Compensation Arrangements” set forth in Exhibit D and Exhibit E, are hereby amended and restated to provide as follows:

 

Each Fund and the Custodian have entered into the following arrangement, which is applicable separately with respect to each separate Fund:

(1)On a daily basis, 100% of overdrawn balances with respect to the Fund will be charged at a rate of 175 basis points over the daily effective Fed Funds rate, such charges to be applied to the Fund’s safekeeping fees on a monthly basis.
(2)On a daily basis, 90% of positive end of day balances with respect to the Fund will earn a credit at a rate of the greater of 0 or the daily effective Fed Funds rate less 50 basis points, such credits to be applied to the Fund’s safekeeping fees on a monthly basis.
(3)On a monthly basis, the net resultant charge or credit will be applied to the Fund’s safekeeping fees. Net credits that exceed the monthly safekeeping fees may be carried over into the next billing period at the discretion of the Custodian.
(4)The Funds will not be responsible for overdrafts resulting from errors or corrections by the Custodian in the reporting of available cash balances for which the Custodian is responsible under the Agreement.

 

5.     Miscellaneous. This Amendment constitutes the complete understanding and agreement of the parties with respect to the subject matter hereof and supersedes all prior communications with respect thereto. The Agreement, as amended hereby, shall remain in full force and effect. This Amendment may be executed in any number of counterparts, each of which shall be deemed an original, but such counterparts shall, together, constitute only one instrument. The facsimile signature of any party to this Amendment shall constitute the valid and binding execution hereof by such party. This Amendment shall be construed in accordance with the substantive laws of the State of New York, without regard to conflicts of laws principles thereof.

 

[Signature Page Follows]

 
 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of the day and year first written above.

 

THE BANK OF NEW YORK MELLON EACH OF THE REGISTERED INVESTMENT COMPANIES OR SERIES THEREOF LISTED ON SCHEDULE II TO THE AGREEMENT

 

 

By: _/s/ Armando Fernandez_____________ By: __/s/ Lori A. Hensler______

Title: Vice President, Managing Director Title: Treasurer for the Funds

 

 

 
 

 

NINETEENTH AMENDMENT TO

CUSTODY AGREEMENT

 

THIS AMENDMENT TO CUSTODY AGREEMENT (“Amendment”) is by and between the registered investment companies listed on Schedule II to the Agreement, as may be amended from time to time, (each standalone registered investment company and each Series a “Fund” and collectively the “Funds”) and The Bank of New York Mellon (the “Custodian”).

W I T N E S S E T H:

 

WHEREAS, the Funds and the Custodian are parties to that certain Custody Agreement (the “Agreement”) dated June 7, 2005, as amended, and between the Funds listed on Schedule II of the Agreement, as amended and restated by Exhibit A attached hereto and the Custodian;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Custodian desire to amend the names to certain Funds and add certain Funds to the Schedules; and

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.       The Funds listed in Schedule II to the Agreement, Schedule I of the Joint Trading Account Agreement, and Schedule I of the Foreign Custody Manager Agreement are amended and restated to include the funds listed on Exhibit A attached hereto.

 

2.       Within the Non-Money Market Fund Fee Schedule, the section entitled “Funds” following the section entitled “Earnings Credit Arrangement” is replaced in its entirety with the section entitled “Funds” attached hereto as Exhibit B.

 

3.       The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of December 1, 2016.

 

Each of the registered investment companies or series

thereof listed on Exhibit A attached hereto

 

By: /s/ Lori Hensler

Name: Lori Hensler

Title: Treasurer

 

THE BANK OF NEW YORK MELLON

 

 

By: /s/ Armando Fernandez

Name: Armando Fernandez

Title: Vice-President, Managing Director

 
 

 

Exhibit A

Schedule II of the Custody Agreement;

Schedule I of the Joint Trading Account Agreement;

Schedule I of the Foreign Custody Manager Agreement

 

Revised 12/1/16

 

 

 

 

A.       Non-Money Market Funds

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Emerging Markets Equity Fund

Federated InterContinental Fund

Federated Intermediate Municipal Trust

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund (formerly Federated International Bond Fund)

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Large-Cap Value Fund (formerly Federated MDT Stock Trust)

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Securities Fund, Inc.

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Intermediate Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Prudent DollarBear Fund

Federated Short-Intermediate Duration Municipal Trust

 

 

B.       Money Market Funds

 

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated Municipal Trust

Federated U.S. Treasury Cash Reserves

 
 

 

Exhibit B

Amended and Restated

Section entitled “Funds”

of the Non-Money Market Fund Fee Schedule

(Exhibit D to Amendment dated November 8, 2007)

 

Revised 12/1/16

 

FUNDS

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Emerging Markets Equity Fund

Federated InterContinental Fund

Federated Intermediate Municipal Trust

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund (formerly Federated International Bond Fund)

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Large-Cap Value Fund (formerly Federated MDT Stock Trust)

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Securities Fund, Inc.

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Intermediate Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Prudent DollarBear Fund

Federated Short-Intermediate Duration Municipal Trust

 
 

 

TWENTIETH AMENDMENT TO

CUSTODY AGREEMENT

 

THIS AMENDMENT TO CUSTODY AGREEMENT (“Amendment”) is by and between the registered investment companies listed on Schedule II to the Agreement, as may be amended from time to time, (each standalone registered investment company and each Series a “Fund” and collectively the “Funds”) and The Bank of New York Mellon (the “Custodian”).

W I T N E S S E T H:

 

WHEREAS, the Funds and the Custodian are parties to that certain Custody Agreement (the “Agreement”) dated June 7, 2005, as amended, and between the Funds listed on Schedule II of the Agreement, as amended and restated by Exhibit A attached hereto and the Custodian;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Custodian desire to amend the names of certain Funds, to add certain Funds to, and to remove certain Funds from Schedules; and

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.       The Funds listed in Schedule II to the Agreement, Schedule I of the Joint Trading Account Agreement, and Schedule I of the Foreign Custody Manager Agreement are amended and restated to include the funds listed on Exhibit A attached hereto.

 

2.       Within the Non-Money Market Fund Fee Schedule, the section entitled “Funds” following the section entitled “Earnings Credit Arrangement” is replaced in its entirety with the section entitled “Funds” attached hereto as Exhibit B.

 

3.       The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of August 1, 2017.

 

Each of the registered investment companies or series

thereof listed on Exhibit A attached hereto

 

By: /s/ Lori A. Hensler

Name: Lori A. Hensler

Title: Treasurer

 

THE BANK OF NEW YORK MELLON

 

 

By: /s/ Armando Fernandez

Name: Armando Fernandez

Title: Vice-President, Managing Director

 
 

 

Exhibit A

Schedule II of the Custody Agreement;

Schedule I of the Joint Trading Account Agreement;

Schedule I of the Foreign Custody Manager Agreement

 

Revised 8/1/17

 

 

 

 

A.       Non-Money Market Funds

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated InterContinental Fund

Federated Intermediate Municipal Trust

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Large-Cap Value Fund

Federated MDT Large Cap Value Fund*

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Bond Fund, Inc.

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Intermediate Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Prudent DollarBear Fund

Federated Short-Intermediate Duration Municipal Trust

 

 

B.       Money Market Funds

 

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated Municipal Trust

Federated U.S. Treasury Cash Reserves

 

 

*a portfolio of Federated MDT Equity Trust to be effective August 31, 2017

 
 

 

Exhibit B

Amended and Restated

Section entitled “Funds”

of the Non-Money Market Fund Fee Schedule

(Exhibit D to Amendment dated November 8, 2007)

 

Revised 8/1/17

 

FUNDS

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated InterContinental Fund

Federated Intermediate Municipal Trust

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Large-Cap Value Fund

Federated MDT Large Cap Value Fund*

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Bond Fund, Inc.

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Intermediate Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Prudent DollarBear Fund

Federated Short-Intermediate Duration Municipal Trust

 

 

*a portfolio of Federated MDT Equity Trust to be effective August 31, 2017.

 

 

 
 

 

TWENTY-FIRST AMENDMENT TO

CUSTODY AGREEMENT

 

THIS AMENDMENT TO CUSTODY AGREEMENT (“Amendment”) is by and between the registered investment companies listed on Schedule II to the Agreement, as may be amended from time to time, (each standalone registered investment company and each Series a “Fund” and collectively the “Funds”) and The Bank of New York Mellon (the “Custodian”).

W I T N E S S E T H:

 

WHEREAS, the Funds and the Custodian are parties to that certain Custody Agreement (the “Agreement”) dated June 7, 2005, as amended, and between the Funds listed on Schedule II of the Agreement, as amended and restated by Exhibit A attached hereto and the Custodian;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Custodian desire to remove certain Funds from Schedules; and

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.       The Funds listed in Schedule II to the Agreement, Schedule I of the Joint Trading Account Agreement, and Schedule I of the Foreign Custody Manager Agreement are amended and restated to include the funds listed on Exhibit A attached hereto.

 

2.       Within the Non-Money Market Fund Fee Schedule, the section entitled “Funds” following the section entitled “Earnings Credit Arrangement” is replaced in its entirety with the section entitled “Funds” attached hereto as Exhibit B.

 

3.       The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of October 1, 2017.

 

Each of the registered investment companies or series

thereof listed on Exhibit A attached hereto

 

By: /s/ Lori A. Hensler

Name: Lori A. Hensler

Title: Treasurer

 

THE BANK OF NEW YORK MELLON

 

 

By: /s/ Armando Fernandez

Name: Armando Fernandez

Title: Vice-President, Managing Director

 
 

 

Exhibit A

Schedule II of the Custody Agreement;

Schedule I of the Joint Trading Account Agreement;

Schedule I of the Foreign Custody Manager Agreement

 

Revised 10/1/17

 

 

 

 

A.       Non-Money Market Funds

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Intermediate Municipal Trust

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Large-Cap Value Fund

Federated MDT Large Cap Value Fund*

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Bond Fund, Inc.

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Intermediate Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

 

B.       Money Market Funds

 

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated Municipal Trust

Federated U.S. Treasury Cash Reserves

 

 

*a portfolio of Federated MDT Equity Trust became effective August 31, 2017

 
 

 

Exhibit B

Amended and Restated

Section entitled “Funds”

of the Non-Money Market Fund Fee Schedule

(Exhibit D to Amendment dated November 8, 2007)

 

Revised 10/1/17

 

FUNDS

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Intermediate Municipal Trust

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Large-Cap Value Fund

Federated MDT Large Cap Value Fund*

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Bond Fund, Inc.

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Intermediate Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

 

*a portfolio of Federated MDT Equity Trust became effective August 31, 2017.

 

 

 

 
 

 

TWENTY-SECOND AMENDMENT TO

CUSTODY AGREEMENT

 

THIS AMENDMENT TO CUSTODY AGREEMENT (“Amendment”) is by and between the registered investment companies listed on Schedule II to the Agreement, as may be amended from time to time, (each standalone registered investment company and each Series a “Fund” and collectively the “Funds”) and The Bank of New York Mellon (the “Custodian”).

W I T N E S S E T H:

 

WHEREAS, the Funds and the Custodian are parties to that certain Custody Agreement (the “Agreement”) dated June 7, 2005, as amended, and between the Funds listed on Schedule II of the Agreement, as amended and restated by Exhibit A attached hereto and the Custodian;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Custodian desire to remove certain Funds from Schedules; and

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.       The Funds listed in Schedule II to the Agreement, Schedule I of the Joint Trading Account Agreement, and Schedule I of the Foreign Custody Manager Agreement are amended and restated to include the funds listed on Exhibit A attached hereto.

 

2.       Within the Non-Money Market Fund Fee Schedule, the section entitled “Funds” following the section entitled “Earnings Credit Arrangement” is replaced in its entirety with the section entitled “Funds” attached hereto as Exhibit B.

 

3.       The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of December 1, 2017.

 

Each of the registered investment companies or series

thereof listed on Exhibit A attached hereto

 

By: /s/ Lori A. Hensler

Name: Lori A. Hensler

Title: Treasurer

 

THE BANK OF NEW YORK MELLON

 

 

By: /s/ Armando Fernandez

Name: Armando Fernandez

Title: Vice-President, Managing Director

 
 

 

Exhibit A

Schedule II of the Custody Agreement;

Schedule I of the Joint Trading Account Agreement;

Schedule I of the Foreign Custody Manager Agreement

 

Revised 12/1/17

 

 

 

 

A.       Non-Money Market Funds

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Intermediate Municipal Trust

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Large Cap Value Fund

Federated MDT Large Cap Value Fund*

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Bond Fund, Inc.

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

 

B.       Money Market Funds

 

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated Municipal Trust

Federated U.S. Treasury Cash Reserves

 

 

*a portfolio of Federated MDT Equity Trust became effective August 31, 2017

 
 

 

Exhibit B

Amended and Restated

Section entitled “Funds”

of the Non-Money Market Fund Fee Schedule

(Exhibit D to Amendment dated November 8, 2007)

 

Revised 12/1/17

 

FUNDS

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Intermediate Municipal Trust

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Large Cap Value Fund

Federated MDT Large Cap Value Fund*

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Bond Fund, Inc.

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

 

*a portfolio of Federated MDT Equity Trust became effective August 31, 2017.

 

 

 

 

 

 
 

 

TWENTY-THIRD AMENDMENT TO

CUSTODY AGREEMENT

 

THIS AMENDMENT TO CUSTODY AGREEMENT (“Amendment”) is by and between the registered investment companies listed on Schedule II to the Agreement, as may be amended from time to time, (each stand alone registered investment company and each Series a “Fund” and collectively the “Funds”) and The Bank of New York Mellon (the “Custodian”).

 

W I T N E S S E T H:

 

WHEREAS, the Funds and the Custodian are parties to that certain Custody Agreement (the “Agreement”) dated June 7, 2005, amended November 7, 2007, September 5, 2008, September 8, 2009, October 23, 2009, November 13, 2009, January 13, 2010 September 1, 2010, March 1, 2011, two separate amendments dated March 25, 2011, August 1, 2012, December 31, 2012, September 24, 2013, April 28, 2014, December 1, 2014, May 14, 2015, June 26, 2015, May 1, 2016, December 1, 2016, August 1, 2017, October 1, 2017 and December 1, 2017 between the Funds listed on Schedule II of the Agreement, as amended and restated by Exhibit A attached hereto (each a "Fund") and The Bank of New York Mellon (the "Custodian").

 

WHEREAS, each Fund is registered as a management investment company, or a series thereof, under the Investment Company Act of 1940, as amended; and

 

WHEREAS, the Funds and the Custodian desire to amend the Agreement subject to the terms and conditions set forth herein.

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.       Section 3 of Article V of the Agreement is hereby deleted in its entirety and replaced with the following language:

 

3.       Notwithstanding the foregoing, Custodian will not charge the Fund any overdraft fees, penalties, or related custody charges in connection with any transaction or series of related transactions for which Custodian did not provide Fund with notice, as soon as reasonably practicable under the circumstances, of any refusal to accept or provide a price for an Actionable Trade Request as such term is defined in the FX Standing Instructions Session Range Program Description, dated March 25, 2016 or the FX Benchmark Pricing Program Description, dated March 25, 2016, as applicable.

 

2.       The Agreement shall remain in full force and effect as amended by this Amendment.

 

 

 

 

[Remainder of Page Intentionally Left Blank]

 

 
 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of March 16, 2018.

 

Each of the registered investment companies or series thereof listed on Schedule II to the Custody Agreement, as amended from time to time.

 

By: /s/ Lori A. Hensler

Name: Lori Hensler

Title: Treasurer

 

 

THE BANK OF NEW YORK MELLON

 

 

By: _/s/ Armando Fernandez

Name: Armando Fernandez

Title: Managing Director

 
 

 

AMENDMENT TO TERMS OF

FOREIGN EXCHANGE BENCHMARK PRICING PROGRAM

AND

FOREIGN EXCHANGE STANDING INSTRUCTION SESSION RANGE PROGRAM

 

FX PROGRAM SELECTION FORM

Federated Investment Management Company (“Federated”) has received the FX Standing Instructions Session Range Program Description, dated March 25, 2016 (as amended from time to time, the “Session Range Program Description”), and the FX Standing Instructions Benchmark Pricing Program Description, dated March 25, 2016 (as amended from time to time, the “Benchmark Program Description” and collectively with the Session Range Program Description, the “Documents”).

Capitalized Terms not otherwise defined herein shall bear the meanings given to them in the Session Range Program Description or Benchmark Program Description, as applicable.

The parties agree that the terms of the Documents are amended as described herein:

  1. By executing this amendment and the FX Program Selection Form attached hereto as Exhibit A (collectively, the “Opt-In Form”), the parties express their agreement regarding the pricing and processing of FX Transactions executed pursuant to the terms of the Documents, as amended by this Opt-In Form. For avoidance of doubt, this is an agreement concerning the pricing and processing of FX Transactions, and not an agreement by either party hereto to enter into any particular FX Transaction. BNY Mellon is not in any way obligated to enter into any FX Transaction with the Customer as a result of the Customer providing instructions to BNY Mellon under either the FX Benchmark Pricing Program (the “Benchmark Program”) or the FX Standing Instructions Session Range Program Description (the “Session Range Program”). BNY Mellon may refuse to accept or provide a price for the Actionable Trade Request for any reason, including without limitation, because of market restrictions, legal, regulatory, credit or operational reasons.
  2. BNY Mellon’s Asset Servicing Representative dedicated to Federated will provide Federated with notice as soon as reasonably practicable: (i) of any refusal to accept or provide a price for the Actionable Trade Request, and (ii) of any market, legal, regulatory, credit or operational restrictions that render BNY Mellon incapable of accepting or providing a price for an Actionable Trade Request with respect to a particular currency. Such notice will be provided by email alert to Federated at the email address(es) provided below or at such other e-mail address as may be provided by Federated in writing hereafter.
  3. Federated acknowledges that each Customer identified in Exhibit B will engage in FX Transactions with BNY Mellon under the Benchmark Program for Developed Market Currencies, and under the Session Range Program for all other currencies. Federated may amend the accounts listed on Exhibit B hereto at any time by sending BNY Mellon an instruction in writing to either add account(s) or to remove account(s). The instruction shall identify the name of the account(s), account number(s), legal name(s), and the instruction to add or remove such accounts from Exhibit B. An instruction to add a new account will be thereby incorporated hereunder upon BNY Mellon’s written consent (or upon execution of an FX Transaction with respect to such account, which shall be deemed BNY Mellon’s written consent). An instruction to remove an account shall cause such account to be automatically terminated from the scope of the Documents upon receipt of such instruction without requiring BNY Mellon’s consent, provided that such termination shall not affect any obligations of such terminated account outstanding at the time of termination and including a reasonable time to act thereon.
  4. As used in the Documents, each separate legal entity is deemed to be a Customer.  Unless checked below, Federated understands and acknowledges that Netting (as defined in Annex A and described in Annex B and C of the applicable Document) will occur among accounts belonging to the same Customer. In the case of multiple accounts, if Federated does not identify which accounts belong to the same Customer, netting will occur at the account level.

We are requiring you to apply Netting across different Customers.  We have specified the exact legal names associated with each account in Exhibit B and provided that we have elected to apply Netting across different Customers, the following Indemnity shall apply:

Indemnity

The accounts listed in Exhibit B do not belong to the same Customer, they belong to various Customers. In consideration of making Netting available across the accounts of various Customers and enabling the FX trading activity of one Customer to benefit another Customer, we agree to indemnify and hold BNY Mellon and any affiliate of BNY Mellon harmless from and against any claim, loss, liability, damage, cost or expense of any nature whatsoever (including reasonable attorneys’ fees and expenses as they become due), arising out of or related to any claim of breach of any Law  in connection with the Netting across the accounts of various Customers. "Law" means any law, rule or regulation, including without limitation the Investment Company Act of 1940, Employee Retirement Income Securities Act of 1974, each as amended, or any successor federal statute.

  1. Reporting for FX Transactions shall be in the form attached, which may be modified from time to time. In the event that such modifications result in a material reduction in the information contained in the form and thereafter Federated reasonably requests such information, then BNY Mellon will provide such information as it relates to the Benchmark Program or the Session Range Program, so long as Federated’s request does not include third party information, violate any policy of BNY Mellon, conflict with any other customer’s confidentiality, and is information that BNY Mellon can produce (as reasonably determined by BNY Mellon).
  2. The parties agree that, if executing an Actionable Trade Request, prior to determining that it will not price such Actionable Trade Request in accordance with the terms of the Documents, BNY Mellon must make a reasonable and good faith determination that an Extraordinary Event has occurred or is expected to occur.
  3. Notwithstanding any provisions in the Documents to the contrary, BNY Mellon may only charge an additional or separate fee for its services outside of such fees earned by BNY Mellon in the form of Spreads or otherwise described in the Pricing sections of the Documents as part of either the Benchmark Program or the Session Range Program with the prior written agreement of Federated.
  4. The parties agree that in the event Federated chooses to terminate the agreement on behalf of a Customer or to revoke advance instructions on behalf of a Customer in accordance with Section 2.b of Annex D to each of the Documents, that such termination or revocation will be effective after the lapse of a reasonable time for BNY Mellon to act on such termination or revocation and in any event will be effective no later than 10 business days after receipt by BNY Mellon.
  5. In no event will BNY Mellon be liable for any indirect, special, incidental, consequential or punitive damages (including loss of profit, expense of use of other services, or attorney's fees), arising out of or in connection with this agreement, regardless of whether such damages arise in tort, contract or otherwise, even if BNY Mellon has been advised of the possibility of such damages. Notwithstanding the foregoing, the Documents shall not be construed to exclude or limit the liability of BNY Mellon or any of its affiliates for losses incurred in connection with any FX Transaction executed pursuant to the Documents attributable to: (i) fraud (ii) actions taken in bad faith; (iii) negligence (which shall be determined in accordance with the reasonable commercial standards of the banking industry); or (iv) any other liability that cannot be excluded or limited by Applicable Law. For purposes of the Documents and this Opt-in Form, “Applicable Law” shall mean all applicable United States or foreign federal, state and local laws, rules, regulations, interpretations, orders, judgments and decrees of any applicable regulatory authority or self-regulatory organization or of any national exchange, market or clearinghouse where foreign exchange transactions are executed.
  6. Either party may terminate this agreement upon thirty (30) days’ (or in the case of a termination for cause, five (5) days’) prior written notice to the other party. The termination shall not affect the rights, obligations and liabilities of any party hereto accrued as of the date of such termination. Notices under these Documents may be sent by electronic mail or regular mail to the other party at the addresses set forth below:

BNY Mellon: Ed McGann

BNY Mellon Asset Servicing

101 Barclay St., 3rd Floor

New York, NY 10286

Tel 212-815-5493

[email protected]

Federated:       Lori Hensler

Federated Investment Management Company

1001 Liberty Avenue

Pittsburgh, PA 15222-3779

Tel 412-288-1277

[email protected]

 

Tim Trebilcock

Federated Investment Management Company

1001 Liberty Avenue

Pittsburgh, PA 15222-3779

Tel 412-288-2954

[email protected]

11.This agreement will be governed by and construed in accordance with the law of the State of New York (without reference to choice of law doctrine). Each party hereby waives the right to trial by jury in any action or proceeding instituted with respect to this agreement.

[Remainder of this page is intentionally left blank.]

 
 

 

 

Accepted and Agreed:    
Federated Investment Management Company   The Bank of New York Mellon
     
     

By: /s/ John B. Fisher

 

   By: /s/ Edward G. McGann
Name: John B. Fisher   Name: Edward G. McGann
Title: President   Title: Managing Director
Date: April 26, 2018   Date: April 24, 2018

 

 
 

 

EXHIBIT A

FX Program Selection Form

 

 
 

 

Version Date: 17th July, 2014

1.

 

2.

 

* Max size is 35 alphanumeric characters

3.

* Please note that the Questionnaire contains dropdown menus

4.

We hereby confirm, that the information provided in this Questionnaire is correct, and that any future amendments must be notified to BNY Mellon in writing.

FX Program Selection Form - For Asset Owner to complete

***** Please fully complete the Questionnaire, then sign and return (including the original excel file) to [email protected]*****

 

 

 

FX Program Selection Form - For Asset Owner to complete

 

We understand that The Bank of New York Mellon (“BNY Mellon”) offers two standard pricing options for custody related Foreign Exchange (FX): (1) the Session Range Program; and (2) the Defined Spread Program. There is an additional alternative pricing option called FX Benchmark Pricing which applies to developed market currencies only as defined in its latest Program Description.

 

We understand that if we do not specifically select the Defined Spread Program or the FX Benchmark Pricing option, or fail to execute an FX Program Election Form, any custody related foreign exchange instructions we send will be priced either in accordance with another arrangement to which we and BNY Mellon have agreed or if no such agreement has occured, such instructions will be priced in accordance with BNY Mellon's then-applicable default program for handling such instructions. Currently, Session Range is the default program for handling such instructions.

 

If we have any questions concerning BNY Mellon’s FX pricing options, we shall contact our Relationship Manager.

We are instructing BNY Mellon to price FX transactions involving the currency pairs as specified below (please select one of the following): For FX transactions involving two Developed Market currencies:

Developed Market currencies mean each of the following (ISO Codes): AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, SEK, SGD, TRY, USD , ZAR.
Please select the service offering to apply to custody related FX FX Benchmark Pricing
https://workbench.bnymellon.com/reference/wb_reference.jsp#mfep

 

Fixing Time 4:00 PM EST (20L – London Close)

 

We, the undersigned Customer, have received the latest version of the FX Benchmark Pricing Program Description available at the above web link. We are directly dealing with you, BNY Mellon, on our own behalf and/or have appointed one or more investment advisers or investment managers (a “Manager”) as our agents to deal with you, as we have notified you in writing from time to time. We on our own behalf agree that each Customer identified as part of this set up form will engage in FX Transactions with you under the FX Benchmark Pricing Program (as described in the Program Description), for those trade requests identified in the Program Description. We understand that in addition to this form, we (if applicable) may have to sign other administrative forms to participate in the service.

 

For FX transactions involving one or more Emerging Market currencies:

  
Emerging Market currencies mean any other currency that is not a Developed Market currency.
Please select the service offering to apply to custody related FX Session Range (Default)

 

We, the undersigned Customer, have received the latest version of the Session Range Program Description available at the above web link. We are directly dealing with you, BNY Mellon, on our own behalf and/or have appointed one or more investment advisers or investment managers (a “Manager”) as our agents to deal with you, as we have notified you in writing from time to time. We on our own behalf agree that each Customer identified as part of this set up form will engage in FX Transactions with you under the Session Range Pricing Program (as described in the Program Description), for those trade requests identified in the Program Description. We understand that in addition to this form, we (if applicable) may have to sign other administrative forms to participate in the service.

Federated Investment Management Company

 

 

By: /s/ John B. Fisher

 

Please complete the Account List tab.

Title:

Date:

 

FX Program Election

 

 

 
 

FX Program Selection Form - Account List - For Asset Owner to complete

 

We understand that BNY Mellon offers Price Netting (as defined in the relevant program description) to foreign exchange transactions ("FX Transactions") at the legal entity level (across accounts of the same legal entity) provided that we direct BNY Mellon as to which accounts belong to the respective legal entity (which can be provided below). Without such direction, Price Netting will default to the account level.

 

 

Please select the netting option to be applied to the FX Program group (Choose drop-down option)

 

Across Accounts of the Same Legal Entity

 

If we apply "Netting Across Accounts of Different (but related) Legal Entities", then the following indemnity shall apply:

 

Indemnity

The accounts listed in the account list do not belong to the same Customer, they belong to various Customers. In consideration of making Netting available across the accounts of various Customers and enabling the FX trading activity of one Customer to benefit another Customer, we agree to indemnify and hold BNY Mellon and any affiliate harmless from and against any claim, loss, liability, damage, cost or expense of any nature whatsoever (including reasonable attorneys’ fees and expenses as they become due), arising out of or related to any claim of breach of any Law in connection with the Netting across the accounts of various Customers. "Law" means any law, rule or regulation.

 

Account List

 

 

 
 

EXHIBIT B

List of Customers

Account Name Account Number Legal Entity Name
157877 FARF FEDERATED ABSOLUTE RETURN FUND
557219 FEMDF FEDERATED EMERGING MARKET DEBT FUND
385540 FGSVF FEDERATED GLOBAL STRATEGIC VALUE DIVIDEND FUND
557217 FGTRB FEDERATED GLOBAL TOTAL RETURN BOND FUND
557218 FIBSP FEDERATED INTERNATIONAL BOND STRATEGY PORTFOLIO
557242 FIDSP FEDERATED INTERNATIONAL DIVIDEND STRATEGY PORTFOLIO
557220 FILF FEDERATED INTERNATIONAL LEADERS FUND

 

 

  
   
   
   
By:/s/ John B. Fisher  
Name: John B. Fisher  
Title: President  
Date: April 26, 2018  
       

 

 
 

 

TWENTY-FOURTH AMENDMENT TO

CUSTODY AGREEMENT

 

THIS AMENDMENT TO CUSTODY AGREEMENT (“Amendment”) is by and between the registered investment companies listed on Schedule II to the Agreement, as may be amended from time to time, (each standalone registered investment company and each Series a “Fund” and collectively the “Funds”) and The Bank of New York Mellon (the “Custodian”).

W I T N E S S E T H:

 

WHEREAS, the Funds and the Custodian are parties to that certain Custody Agreement (the “Agreement”) dated June 7, 2005, as amended, and between the Funds listed on Schedule II of the Agreement, as amended and restated by Exhibit A attached hereto and the Custodian;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Custodian desire to remove certain Funds from Schedules; and

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.       The Funds listed in Schedule II to the Agreement, Schedule I of the Joint Trading Account Agreement, and Schedule I of the Foreign Custody Manager Agreement are amended and restated to include the funds listed on Exhibit A attached hereto.

 

2.       Within the Non-Money Market Fund Fee Schedule, the section entitled “Funds” following the section entitled “Earnings Credit Arrangement” is replaced in its entirety with the section entitled “Funds” attached hereto as Exhibit B.

 

3.       The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of April 1, 2018.

 

Each of the registered investment companies or series

thereof listed on Exhibit A attached hereto

 

By: /s/ Deborah M. Molini

Name: Deborah M. Molini

Title: Assistant Treasurer

 

THE BANK OF NEW YORK MELLON

 

 

By: /s/ Armando Fernandez

Name: Armando Fernandez

Title: Vice-President, Managing Director

 
 

 

Exhibit A

Schedule II of the Custody Agreement;

Schedule I of the Joint Trading Account Agreement;

Schedule I of the Foreign Custody Manager Agreement

 

Revised April 1, 2018

 

 

 

 

A.       Non-Money Market Funds

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Intermediate Municipal Trust

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Large Cap Value Fund

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Bond Fund, Inc.

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

 

B.       Money Market Funds

 

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated Municipal Trust

Federated U.S. Treasury Cash Reserves

 

 

 

 
 

 

Exhibit B

Amended and Restated

Section entitled “Funds”

of the Non-Money Market Fund Fee Schedule

(Exhibit D to Amendment dated November 8, 2007)

 

Revised April 1, 2018

 

FUNDS

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Intermediate Municipal Trust

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Large Cap Value Fund

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Bond Fund, Inc.

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

 

 

 
 

 

TWENTY-FIFTH AMENDMENT TO

CUSTODY AGREEMENT

 

THIS AMENDMENT TO CUSTODY AGREEMENT (“Amendment”) is by and between the registered investment companies listed on Schedule II to the Agreement, as may be amended from time to time, (each standalone registered investment company and each Series a “Fund” and collectively the “Funds”) and The Bank of New York Mellon (the “Custodian”).

W I T N E S S E T H:

 

WHEREAS, the Funds and the Custodian are parties to that certain Custody Agreement (the “Agreement”) dated June 7, 2005, as amended, and between the Funds listed on Schedule II of the Agreement, as amended and restated by Exhibit A attached hereto and the Custodian;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Custodian desire to add certain Funds and remove certain Funds to the Schedules; and

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.       The Funds listed in Schedule II to the Agreement, Schedule I of the Joint Trading Account Agreement, and Schedule I of the Foreign Custody Manager Agreement are amended and restated to include the funds listed on Exhibit A attached hereto.

 

2.       Within the Non-Money Market Fund Fee Schedule, the section entitled “Funds” following the section entitled “Earnings Credit Arrangement” is replaced in its entirety with the section entitled “Funds” attached hereto as Exhibit B.

 

3.       The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of September 1, 2018.

 

Each of the registered investment companies or series

thereof listed on Exhibit A attached hereto

 

By /s/ Lori A. Hensler

Name: Lori A. Hensler

Title: Assistant Treasurer

 

THE BANK OF NEW YORK MELLON

 

 

By: /s/ Armando Fernandez

Name: Armando Fernandez

Title: Vice-President, Managing Director

 
 

 

Exhibit A

Schedule II of the Custody Agreement;

Schedule I of the Joint Trading Account Agreement;

Schedule I of the Foreign Custody Manager Agreement

 

Revised September 1, 2018

 

 

 

 

A.       Non-Money Market Funds

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Intermediate Municipal Trust

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated Hermes SDG Engagement Equity Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Large Cap Value Fund

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Bond Fund, Inc.

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

 

B.       Money Market Funds

 

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated U.S. Treasury Cash Reserves

 

 

 

 
 

 

Exhibit B

Amended and Restated

Section entitled “Funds”

of the Non-Money Market Fund Fee Schedule

(Exhibit D to Amendment dated November 8, 2007)

 

Revised September 1, 2018

 

FUNDS

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Intermediate Municipal Trust

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated Hermes SDG Engagement Equity Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Large Cap Value Fund

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Bond Fund, Inc.

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

 

 
 

 

TWENTY-SIXTH AMENDMENT TO

CUSTODY AGREEMENT

 

THIS AMENDMENT TO CUSTODY AGREEMENT (“Amendment”) is by and between the registered investment companies listed on Schedule II to the Agreement, as may be amended from time to time, (each standalone registered investment company and each Series a “Fund” and collectively the “Funds”) and The Bank of New York Mellon (the “Custodian”).

W I T N E S S E T H:

 

WHEREAS, the Funds and the Custodian are parties to that certain Custody Agreement (the “Agreement”) dated June 7, 2005, as amended, and between the Funds listed on Schedule II of the Agreement, as amended and restated by Exhibit A attached hereto and the Custodian;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Custodian desire to add certain Funds to the Schedules; and

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.       The Funds listed in Schedule II to the Agreement, Schedule I of the Joint Trading Account Agreement, and Schedule I of the Foreign Custody Manager Agreement are amended and restated to include the funds listed on Exhibit A attached hereto.

 

2.       Within the Non-Money Market Fund Fee Schedule, the section entitled “Funds” following the section entitled “Earnings Credit Arrangement” is replaced in its entirety with the section entitled “Funds” attached hereto as Exhibit B.

 

3.       The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of December 1, 2018.

 

Each of the registered investment companies or series

thereof listed on Exhibit A attached hereto

 

By /s/ Deborah M. Molini

Name: Deborah M. Molini

Title: Assistant Treasurer

 

THE BANK OF NEW YORK MELLON

 

 

By: /s/ Armando Fernandez

Name: Armando Fernandez

Title: Vice-President, Managing Director

 
 

 

Exhibit A

Schedule II of the Custody Agreement;

Schedule I of the Joint Trading Account Agreement;

Schedule I of the Foreign Custody Manager Agreement

 

Revised December 1, 2018

 

 

 

 

A.       Non-Money Market Funds

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Intermediate Municipal Trust

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated Hermes Absolute Return Credit Fund

Federated Hermes Global Equity Fund

Federated Hermes Global Small Cap Fund

Federated Hermes SDG Engagement Equity Fund

Federated Hermes Unconstrained Credit Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Large Cap Value Fund

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Bond Fund, Inc.

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

 

B.       Money Market Funds

 

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated U.S. Treasury Cash Reserves

 

 

 

 
 

 

Exhibit B

Amended and Restated

Section entitled “Funds”

of the Non-Money Market Fund Fee Schedule

(Exhibit D to Amendment dated November 8, 2007)

 

Revised December 1, 2018

 

FUNDS

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Intermediate Municipal Trust

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated Hermes Absolute Return Credit Fund

Federated Hermes Global Equity Fund

Federated Hermes Global Small Cap Fund

Federated Hermes SDG Engagement Equity Fund

Federated Hermes Unconstrained Credit Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Large Cap Value Fund

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Bond Fund, Inc.

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

 

 

 

 
 

 

TWENTY-SEVENTH AMENDMENT TO

CUSTODY AGREEMENT

 

THIS AMENDMENT TO CUSTODY AGREEMENT (“Amendment”) is by and between the registered investment companies listed on Schedule II to the Agreement, as may be amended from time to time, (each standalone registered investment company and each Series a “Fund” and collectively the “Funds”) and The Bank of New York Mellon (the “Custodian”).

W I T N E S S E T H:

 

WHEREAS, the Funds and the Custodian are parties to that certain Custody Agreement (the “Agreement”) dated June 7, 2005, as amended, and between the Funds listed on Schedule II of the Agreement, as amended and restated by Exhibit A attached hereto and the Custodian;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Custodian desire to add certain Funds to the Schedules; and

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.       The Funds listed in Schedule II to the Agreement, Schedule I of the Joint Trading Account Agreement, and Schedule I of the Foreign Custody Manager Agreement are amended and restated to include the funds listed on Exhibit A attached hereto.

 

2.       Within the Non-Money Market Fund Fee Schedule, the section entitled “Funds” following the section entitled “Earnings Credit Arrangement” is replaced in its entirety with the section entitled “Funds” attached hereto as Exhibit B.

 

3.       The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of March 1, 2019.

 

Each of the registered investment companies or series

thereof listed on Exhibit A attached hereto

 

By /s/ Deborah M. Molini

Name: Deborah M. Molini

Title: Assistant Treasurer

 

THE BANK OF NEW YORK MELLON

 

 

By: /s/ James Farrell

Name: James Farrell

Title: Vice-President

 
 

 

Exhibit A

Schedule II of the Custody Agreement;

Schedule I of the Joint Trading Account Agreement;

Schedule I of the Foreign Custody Manager Agreement

 

Revised March 1, 2019

 

 

 

 

A.       Non-Money Market Funds

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Intermediate Municipal Trust

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated Hermes Absolute Return Credit Fund

Federated Hermes Global Equity Fund

Federated Hermes Global Small Cap Fund

Federated Hermes International Equity Fund

Federated Hermes SDG Engagement Equity Fund

Federated Hermes Unconstrained Credit Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Large Cap Value Fund

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Bond Fund, Inc.

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

 

B.       Money Market Funds

 

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated U.S. Treasury Cash Reserves

 

 

 

 
 

 

Exhibit B

Amended and Restated

Section entitled “Funds”

of the Non-Money Market Fund Fee Schedule

(Exhibit D to Amendment dated November 8, 2007)

 

Revised March 1, 2019

 

FUNDS

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Intermediate Municipal Trust

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated Hermes Absolute Return Credit Fund

Federated Hermes Global Equity Fund

Federated Hermes Global Small Cap Fund

Federated Hermes International Equity Fund

Federated Hermes SDG Engagement Equity Fund

Federated Hermes Unconstrained Credit Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Large Cap Value Fund

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Bond Fund, Inc.

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

 

 

 

 

 

 
 

 

TWENTY-EIGHTH AMENDMENT TO

CUSTODY AGREEMENT

 

THIS AMENDMENT TO CUSTODY AGREEMENT (“Amendment”) is by and between the registered investment companies listed on Schedule II to the Agreement, as may be amended from time to time, (each standalone registered investment company and each Series a “Fund” and collectively the “Funds”) and The Bank of New York Mellon (the “Custodian”).

W I T N E S S E T H:

 

WHEREAS, the Funds and the Custodian are parties to that certain Custody Agreement (the “Agreement”) dated June 7, 2005, as amended, and between the Funds listed on Schedule II of the Agreement, as amended and restated by Exhibit A attached hereto and the Custodian;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Custodian desire to add certain Funds to the Schedules; and

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.       The Funds listed in Schedule II to the Agreement, Schedule I of the Joint Trading Account Agreement, and Schedule I of the Foreign Custody Manager Agreement are amended and restated to include the funds listed on Exhibit A attached hereto.

 

2.       Within the Non-Money Market Fund Fee Schedule, the section entitled “Funds” following the section entitled “Earnings Credit Arrangement” is replaced in its entirety with the section entitled “Funds” attached hereto as Exhibit B.

 

3.       The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of April 1, 2019.

 

Each of the registered investment companies or series

thereof listed on Exhibit A attached hereto

 

By:/s/ Deborah M. Molini

Name: Deborah M. Molini

Title: Assistant Treasurer

 

THE BANK OF NEW YORK MELLON

 

 

By: /s/ James Farrell

Name: James Farrell

Title: Vice-President

 
 

 

Exhibit A

Schedule II of the Custody Agreement;

Schedule I of the Joint Trading Account Agreement;

Schedule I of the Foreign Custody Manager Agreement

 

Revised April 1, 2019

 

 

A.       Non-Money Market Funds

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Intermediate Municipal Trust

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated Hermes Absolute Return Credit Fund

Federated Hermes Global Equity Fund

Federated Hermes Global Small Cap Fund

Federated Hermes International Equity Fund

Federated Hermes SDG Engagement Equity Fund

Federated Hermes Unconstrained Credit Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

*Federated Max-Cap Index Fund

Federated MDT Large Cap Value Fund

*Federated Mid-Cap Index Fund

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Bond Fund, Inc.

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

*Federated Strategic Value Dividend Fund

 

 

B.       Money Market Funds

 

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated U.S. Treasury Cash Reserves

 

*The effective date of the Amendment is April 1, 2019, except that with respect to such Funds, it is acknowledged that BNYM may be required to establish procedures in its trade settlement system with respect to trades executed between March 28 and March 29, 2019 that may settle between April 1 and April 2, 2019.  Only with respect to these Funds and these very limited services, will the parties agree to abide by the terms of the Agreement prior to April 1, 2019.

Exhibit B

Amended and Restated

Section entitled “Funds”

of the Non-Money Market Fund Fee Schedule

(Exhibit D to Amendment dated November 8, 2007)

 

Revised April 1, 2019

 

FUNDS

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Intermediate Municipal Trust

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated Hermes Absolute Return Credit Fund

Federated Hermes Global Equity Fund

Federated Hermes Global Small Cap Fund

Federated Hermes International Equity Fund

Federated Hermes SDG Engagement Equity Fund

Federated Hermes Unconstrained Credit Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

*Federated Max-Cap Index Fund

Federated MDT Large Cap Value Fund

*Federated Mid-Cap Index Fund

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Bond Fund, Inc.

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

*Federated Strategic Value Dividend Fund

 

 

 

 

 

 

 

 

 

 

 

 

TWENTY-NINTH AMENDMENT TO

CUSTODY AGREEMENT

 

THIS AMENDMENT TO CUSTODY AGREEMENT (“Amendment”) is by and between the registered investment companies listed on Schedule II to the Agreement, as may be amended from time to time, (each standalone registered investment company and each Series a “Fund” and collectively the “Funds”) and The Bank of New York Mellon (the “Custodian”).

W I T N E S S E T H:

 

WHEREAS, the Funds and the Custodian are parties to that certain Custody Agreement (the “Agreement”) dated June 7, 2005, as amended, and between the Funds listed on Schedule II of the Agreement, as amended and restated by Exhibit A attached hereto and the Custodian;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Custodian desire to add certain Funds to the Schedules; and

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.       The Funds listed in Schedule II to the Agreement, Schedule I of the Joint Trading Account Agreement, and Schedule I of the Foreign Custody Manager Agreement are amended and restated to include the funds listed on Exhibit A attached hereto.

 

2.       Within the Non-Money Market Fund Fee Schedule, the section entitled “Funds” following the section entitled “Earnings Credit Arrangement” is replaced in its entirety with the section entitled “Funds” attached hereto as Exhibit B.

 

3.       The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of June 1, 2019.

 

Each of the registered investment companies or series

thereof listed on Exhibit A attached hereto

 

By: Deborah M. Molini

Name: Deborah M. Molini

Title: Assistant Treasurer

 

THE BANK OF NEW YORK MELLON

 

 

By: James Farrell

Name: James Farrell

Title: Vice-President

 
 

 

Exhibit A

Schedule II of the Custody Agreement;

Schedule I of the Joint Trading Account Agreement;

Schedule I of the Foreign Custody Manager Agreement

 

Revised June 1, 2019

 

 

A.       Non-Money Market Funds

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Emerging Markets Equity Fund

Federated Intermediate Municipal Trust

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated Hermes Absolute Return Credit Fund

Federated Hermes Global Equity Fund

Federated Hermes Global Small Cap Fund

Federated Hermes International Equity Fund

Federated Hermes SDG Engagement Equity Fund

Federated Hermes Unconstrained Credit Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Equity Fund

Federated International Growth Fund

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

*Federated Max-Cap Index Fund

Federated MDT Large Cap Value Fund

*Federated Mid-Cap Index Fund

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Bond Fund, Inc.

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

*Federated Strategic Value Dividend Fund

 

 

B.       Money Market Funds

 

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated U.S. Treasury Cash Reserves

 

 

Exhibit B

Amended and Restated

Section entitled “Funds”

of the Non-Money Market Fund Fee Schedule

(Exhibit D to Amendment dated November 8, 2007)

 

Revised June 1, 2019

 

FUNDS

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Emerging Markets Equity Fund

Federated Intermediate Municipal Trust

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated Hermes Absolute Return Credit Fund

Federated Hermes Global Equity Fund

Federated Hermes Global Small Cap Fund

Federated Hermes International Equity Fund

Federated Hermes SDG Engagement Equity Fund

Federated Hermes Unconstrained Credit Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Equity Fund

Federated International Growth Fund

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

*Federated Max-Cap Index Fund

Federated MDT Large Cap Value Fund

*Federated Mid-Cap Index Fund

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Bond Fund, Inc.

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

*Federated Strategic Value Dividend Fund

 

 

 

 

 

 

 
 

 

THIRTIETH AMENDMENT TO

CUSTODY AGREEMENT

 

THIS AMENDMENT TO CUSTODY AGREEMENT (“Amendment”) is by and between the registered investment companies listed on Schedule II to the Agreement, as may be amended from time to time, (each standalone registered investment company and each Series a “Fund” and collectively the “Funds”) and The Bank of New York Mellon (the “Custodian”).

W I T N E S S E T H:

 

WHEREAS, the Funds and the Custodian are parties to that certain Custody Agreement (the “Agreement”) dated June 7, 2005, as amended, and between the Funds listed on Schedule II of the Agreement, as amended and restated by Exhibit A attached hereto and the Custodian;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Custodian desire to remove certain Funds and add certain other funds to the Schedules;

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.       The Funds listed in Schedule II to the Agreement, Schedule I of the Joint Trading Account Agreement, and Schedule I of the Foreign Custody Manager Agreement are amended and restated to include the funds listed on Exhibit A attached hereto.

 

2.       Within the Non-Money Market Fund Fee Schedule, the section entitled “Funds” following the section entitled “Earnings Credit Arrangement” is replaced in its entirety with the section entitled “Funds” attached hereto as Exhibit B.

 

3.       The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of September 1, 2019.

 

Each of the registered investment companies or series

thereof listed on Exhibit A attached hereto

 

By: /s/ Deborah M. Molini

Name: Deborah M. Molini

Title: Assistant Treasurer

 

THE BANK OF NEW YORK MELLON

 

 

By: /s/ James Farrell

Name: James Farrell

Title: Vice-President

 
 

 

Exhibit A

Schedule II of the Custody Agreement;

Schedule I of the Joint Trading Account Agreement;

Schedule I of the Foreign Custody Manager Agreement

 

Revised September 1, 2019

 

 

A.       Non-Money Market Funds

 

Federated Emerging Market Debt Fund

Federated Emerging Markets Equity Fund

Federated Intermediate Municipal Trust

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated Hermes Absolute Return Credit Fund

Federated Hermes Global Equity Fund

Federated Hermes Global Small Cap Fund

Federated Hermes International Equity Fund

Federated Hermes SDG Engagement Equity Fund

Federated Hermes SDG Engagement High Yield Credit Fund

Federated Hermes Unconstrained Credit Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Equity Fund

Federated International Growth Fund

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

*Federated Max-Cap Index Fund

Federated MDT Large Cap Value Fund

*Federated Mid-Cap Index Fund

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Bond Fund, Inc.

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

*Federated Strategic Value Dividend Fund

 

 

B.       Money Market Funds

 

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated U.S. Treasury Cash Reserves

 

 

Exhibit B

Amended and Restated

Section entitled “Funds”

of the Non-Money Market Fund Fee Schedule

(Exhibit D to Amendment dated November 8, 2007)

 

Revised September 1, 2019

 

FUNDS

 

Federated Emerging Market Debt Fund

Federated Emerging Markets Equity Fund

Federated Intermediate Municipal Trust

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated Hermes Absolute Return Credit Fund

Federated Hermes Global Equity Fund

Federated Hermes Global Small Cap Fund

Federated Hermes International Equity Fund

Federated Hermes SDG Engagement Equity Fund

Federated Hermes SDG Engagement High Yield Credit Fund

Federated Hermes Unconstrained Credit Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Equity Fund

Federated International Growth Fund

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

*Federated Max-Cap Index Fund

Federated MDT Large Cap Value Fund

*Federated Mid-Cap Index Fund

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Bond Fund, Inc.

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

*Federated Strategic Value Dividend Fund

 

 

 
 

 

 

THIRTY-FIRSTAMENDMENT TO

CUSTODY AGREEMENT

 

THIS AMENDMENT TO CUSTODY AGREEMENT (“Amendment”) is by and between the registered investment companies listed on Schedule II to the Agreement, as may be amended from time to time, (each standalone registered investment company and each Series a “Fund” and collectively the “Funds”) and The Bank of New York Mellon (the “Custodian”).

W I T N E S S E T H:

 

WHEREAS, the Funds and the Custodian are parties to that certain Custody Agreement (the “Agreement”) dated June 7, 2005, as amended, and between the Funds listed on Schedule II of the Agreement, as amended and restated by Exhibit A attached hereto and the Custodian;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Custodian desire to add certain Funds and add certain other funds to the Schedules;

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.       The Funds listed in Schedule II to the Agreement, Schedule I of the Joint Trading Account Agreement, and Schedule I of the Foreign Custody Manager Agreement are amended and restated to include the funds listed on Exhibit A attached hereto.

 

2.       Within the Non-Money Market Fund Fee Schedule, the section entitled “Funds” following the section entitled “Earnings Credit Arrangement” is replaced in its entirety with the section entitled “Funds” attached hereto as Exhibit B.

 

3.       The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of March 1, 2020.

 

Each of the registered investment companies or series

thereof listed on Exhibit A attached hereto

 

By: /s/ Deborah Molini Kraus

Name: Deborah Molini Kraus

Title: Assistant Treasurer

 

THE BANK OF NEW YORK MELLON

 

 

By: /s/ James Farrell

Name: James Farrell

Title: Vice-President

 
 

 

Exhibit A

Schedule II of the Custody Agreement;

Schedule I of the Joint Trading Account Agreement;

Schedule I of the Foreign Custody Manager Agreement

 

Revised March 1, 2020

 

 

A.       Non-Money Market Funds

 

Federated Emerging Market Debt Fund

Federated Emerging Markets Equity Fund

Federated Intermediate Municipal Trust

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated Hermes Absolute Return Credit Fund

Federated Hermes Global Equity Fund

Federated Hermes Global Small Cap Fund

Federated Hermes International Equity Fund

Federated Hermes SDG Engagement Equity Fund

Federated Hermes SDG Engagement High Yield Credit Fund

Federated Hermes Unconstrained Credit Fund

Federated Hermes US SMID Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Equity Fund

Federated International Growth Fund

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

*Federated Max-Cap Index Fund

Federated MDT Large Cap Value Fund

*Federated Mid-Cap Index Fund

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Bond Fund, Inc.

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

*Federated Strategic Value Dividend Fund

 

 

B.       Money Market Funds

 

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated U.S. Treasury Cash Reserves

 

 

Exhibit B

Amended and Restated

Section entitled “Funds”

of the Non-Money Market Fund Fee Schedule

(Exhibit D to Amendment dated November 8, 2007)

 

Revised March 1, 2020

 

FUNDS

 

Federated Emerging Market Debt Fund

Federated Emerging Markets Equity Fund

Federated Intermediate Municipal Trust

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated Hermes Absolute Return Credit Fund

Federated Hermes Global Equity Fund

Federated Hermes Global Small Cap Fund

Federated Hermes International Equity Fund

Federated Hermes SDG Engagement Equity Fund

Federated Hermes SDG Engagement High Yield Credit Fund

Federated Hermes Unconstrained Credit Fund

Federated Hermes US SMID Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Equity Fund

Federated International Growth Fund

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

*Federated Max-Cap Index Fund

Federated MDT Large Cap Value Fund

*Federated Mid-Cap Index Fund

Federated Michigan Intermediate Municipal Trust

Federated Muni and Stock Advantage Fund

Federated Municipal High Yield Advantage Fund

Federated Municipal Ultrashort Fund

Federated Municipal Bond Fund, Inc.

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

*Federated Strategic Value Dividend Fund

 
 

 

THIRTY-SECOND AMENDMENT TO

CUSTODY AGREEMENT

 

THIS AMENDMENT TO CUSTODY AGREEMENT (“Amendment”) is by and between the registered investment companies listed on Schedule II to the Agreement, as may be amended from time to time, (each standalone registered investment company and each Series a “Fund” and collectively the “Funds”) and The Bank of New York Mellon (the “Custodian”).

W I T N E S S E T H:

 

WHEREAS, the Funds and the Custodian are parties to that certain Custody Agreement (the “Agreement”) dated June 7, 2005, as amended, and between the Funds listed on Schedule II of the Agreement, as amended and restated by Exhibit A attached hereto and the Custodian;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Custodian desire to add Hermes to certain fund names change and change the names on other funds to the Schedules;

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.       The Funds listed in Schedule II to the Agreement, Schedule I of the Joint Trading Account Agreement, and Schedule I of the Foreign Custody Manager Agreement are amended and restated to include the funds listed on Exhibit A attached hereto.

 

2.       Within the Non-Money Market Fund Fee Schedule, the section entitled “Funds” following the section entitled “Earnings Credit Arrangement” is replaced in its entirety with the section entitled “Funds” attached hereto as Exhibit B.

 

3.       The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of June 29, 2020.

 

Each of the registered investment companies or series

thereof listed on Exhibit A attached hereto

 

By: /s/ Lori A. Hensler

Name: Lori A. Hensler

Title: Treasurer

 

THE BANK OF NEW YORK MELLON

 

 

By: /s/ James Farrell

Name: James Farrell

Title: Vice-President

 
 

 

Exhibit A

Schedule II of the Custody Agreement;

Schedule I of the Joint Trading Account Agreement;

Schedule I of the Foreign Custody Manager Agreement

 

Revised June 29, 2020

 

 

A.       Non-Money Market Funds

 

Federated Hermes Emerging Market Debt Fund

Federated Hermes Emerging Markets Equity Fund

Federated Hermes Intermediate Municipal Fund

Federated Hermes Global Strategic Value Dividend Fund

Federated Hermes Global Total Return Bond Fund

Federated Hermes Absolute Return Credit Fund

Federated Hermes Global Equity Fund

Federated Hermes Global Small Cap Fund

Federated Hermes International Developed Equity Fund

Federated Hermes SDG Engagement Equity Fund

Federated Hermes SDG Engagement High Yield Credit Fund

Federated Hermes Unconstrained Credit Fund

Federated Hermes US SMID Fund

Federated Hermes International Bond Strategy Portfolio

Federated Hermes International Dividend Strategy Portfolio

Federated Hermes International Equity Fund

Federated Hermes International Growth Fund

Federated Hermes International Leaders Fund

Federated Hermes International Small-Mid Company Fund

Federated Hermes International Strategic Value Dividend Fund

Federated Hermes Max-Cap Index Fund

Federated Hermes MDT Large Cap Value Fund

Federated Hermes Mid-Cap Index Fund

Federated Hermes Michigan Intermediate Municipal Fund

Federated Hermes Muni and Stock Advantage Fund

Federated Hermes Municipal High Yield Advantage Fund

Federated Hermes Municipal Ultrashort Fund

Federated Hermes Municipal Bond Fund, Inc.

Federated Hermes Ohio Municipal Income Fund

Federated Hermes Pennsylvania Municipal Income Fund

Federated Hermes Premier Municipal Income Fund

Federated Hermes Short-Intermediate Duration Municipal Fund

Federated Hermes Strategic Value Dividend Fund

 

 

B.       Money Market Funds

 

Federated Hermes Capital Reserves Fund

Federated Hermes Government Obligations Tax-Managed Fund

Federated Hermes Government Reserves Fund

Federated Hermes U.S. Treasury Cash Reserves

 

 

Exhibit B

Amended and Restated

Section entitled “Funds”

of the Non-Money Market Fund Fee Schedule

(Exhibit D to Amendment dated November 8, 2007)

 

Revised June 29, 2020

 

FUNDS

 

Federated Hermes Emerging Market Debt Fund

Federated Hermes Emerging Markets Equity Fund

Federated Hermes Intermediate Municipal Fund

Federated Hermes Global Strategic Value Dividend Fund

Federated Hermes Global Total Return Bond Fund

Federated Hermes Absolute Return Credit Fund

Federated Hermes Global Equity Fund

Federated Hermes Global Small Cap Fund

Federated Hermes International Developed Equity Fund

Federated Hermes SDG Engagement Equity Fund

Federated Hermes SDG Engagement High Yield Credit Fund

Federated Hermes Unconstrained Credit Fund

Federated Hermes US SMID Fund

Federated Hermes International Bond Strategy Portfolio

Federated Hermes International Dividend Strategy Portfolio

Federated Hermes International Equity Fund

Federated Hermes International Growth Fund

Federated Hermes International Leaders Fund

Federated Hermes International Small-Mid Company Fund

Federated Hermes International Strategic Value Dividend Fund

Federated Hermes Max-Cap Index Fund

Federated Hermes MDT Large Cap Value Fund

Federated Hermes Mid-Cap Index Fund

Federated Hermes Michigan Intermediate Municipal Fund

Federated Hermes Muni and Stock Advantage Fund

Federated Hermes Municipal High Yield Advantage Fund

Federated Hermes Municipal Ultrashort Fund

Federated Hermes Municipal Bond Fund, Inc.

Federated Hermes Ohio Municipal Income Fund

Federated Hermes Pennsylvania Municipal Income Fund

Federated Hermes Premier Municipal Income Fund

Federated Hermes Short-Intermediate Duration Municipal Fund

Federated Hermes Strategic Value Dividend Fund

 

 

 
 

 

THIRTY-THIRD AMENDMENT TO

CUSTODY AGREEMENT

 

THIS AMENDMENT TO CUSTODY AGREEMENT (“Amendment”) is by and between the registered investment companies listed on Schedule II to the Agreement, as may be amended from time to time, (each standalone registered investment company and each Series a “Fund” and collectively the “Funds”) and The Bank of New York Mellon (the “Custodian”).

W I T N E S S E T H:

 

WHEREAS, the Funds and the Custodian are parties to that certain Custody Agreement (the “Agreement”) dated June 7, 2005, as amended, and between the Funds listed on Schedule II of the Agreement, as amended and restated by Exhibit A attached hereto and the Custodian;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Custodian desire to remove funds from the Schedules;

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.       The Funds listed in Schedule II to the Agreement, Schedule I of the Joint Trading Account Agreement, and Schedule I of the Foreign Custody Manager Agreement are amended and restated to include the funds listed on Exhibit A attached hereto.

 

2.       Within the Non-Money Market Fund Fee Schedule, the section entitled “Funds” following the section entitled “Earnings Credit Arrangement” is replaced in its entirety with the section entitled “Funds” attached hereto as Exhibit B.

 

3.       The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of December 1, 2020.

 

Each of the registered investment companies or series

thereof listed on Exhibit A attached hereto

 

By: /s/ Ronald J. Ecoff

Name: Ronald J. Ecoff

Title: Assistant Treasurer

 

THE BANK OF NEW YORK MELLON

 

 

By: /s/ Kelly Carroll

Name: Kelly Carroll

Title: Vice-President

 
 

 

Exhibit A

Schedule II of the Custody Agreement;

Schedule I of the Joint Trading Account Agreement;

Schedule I of the Foreign Custody Manager Agreement

 

Revised December 1, 2020

 

A.       Non-Money Market Funds

 

Federated Hermes Emerging Market Debt Fund

Federated Hermes Emerging Markets Equity Fund

Federated Hermes Intermediate Municipal Fund

Federated Hermes Global Strategic Value Dividend Fund *

Federated Hermes Global Total Return Bond Fund

Federated Hermes Absolute Return Credit Fund

Federated Hermes Global Equity Fund

Federated Hermes Global Small Cap Fund

Federated Hermes International Developed Equity Fund

Federated Hermes SDG Engagement Equity Fund

Federated Hermes SDG Engagement High Yield Credit Fund

Federated Hermes Unconstrained Credit Fund

Federated Hermes US SMID Fund

Federated Hermes International Bond Strategy Portfolio

Federated Hermes International Dividend Strategy Portfolio

Federated Hermes International Equity Fund

Federated Hermes International Growth Fund

Federated Hermes International Leaders Fund

Federated Hermes International Small-Mid Company Fund

Federated Hermes International Strategic Value Dividend Fund

Federated Hermes Max-Cap Index Fund

Federated Hermes MDT Large Cap Value Fund

Federated Hermes Mid-Cap Index Fund

Federated Hermes Michigan Intermediate Municipal Fund

Federated Hermes Muni and Stock Advantage Fund

Federated Hermes Municipal High Yield Advantage Fund

Federated Hermes Municipal Ultrashort Fund

Federated Hermes Municipal Bond Fund, Inc.

Federated Hermes Ohio Municipal Income Fund

Federated Hermes Pennsylvania Municipal Income Fund

Federated Hermes Premier Municipal Income Fund

Federated Hermes Short-Intermediate Duration Municipal Fund

Federated Hermes Strategic Value Dividend Fund

 

B.       Money Market Funds

 

Federated Hermes Capital Reserves Fund

Federated Hermes Government Obligations Tax-Managed Fund

Federated Hermes Government Reserves Fund

Federated Hermes U.S. Treasury Cash Reserves

 

* Will liquidate on or about January 22, 2021.

 

 

Exhibit B

Amended and Restated

Section entitled “Funds”

of the Non-Money Market Fund Fee Schedule

(Exhibit D to Amendment dated November 8, 2007)

 

Revised December 1, 2020

 

FUNDS

 

Federated Hermes Emerging Market Debt Fund

Federated Hermes Emerging Markets Equity Fund

Federated Hermes Intermediate Municipal Fund

Federated Hermes Global Strategic Value Dividend Fund*

Federated Hermes Global Total Return Bond Fund

Federated Hermes Absolute Return Credit Fund

Federated Hermes Global Equity Fund

Federated Hermes Global Small Cap Fund

Federated Hermes International Developed Equity Fund

Federated Hermes SDG Engagement Equity Fund

Federated Hermes SDG Engagement High Yield Credit Fund

Federated Hermes Unconstrained Credit Fund

Federated Hermes US SMID Fund

Federated Hermes International Bond Strategy Portfolio

Federated Hermes International Dividend Strategy Portfolio

Federated Hermes International Equity Fund

Federated Hermes International Growth Fund

Federated Hermes International Leaders Fund

Federated Hermes International Small-Mid Company Fund

Federated Hermes International Strategic Value Dividend Fund

Federated Hermes Max-Cap Index Fund

Federated Hermes MDT Large Cap Value Fund

Federated Hermes Mid-Cap Index Fund

Federated Hermes Michigan Intermediate Municipal Fund

Federated Hermes Muni and Stock Advantage Fund

Federated Hermes Municipal High Yield Advantage Fund

Federated Hermes Municipal Ultrashort Fund

Federated Hermes Municipal Bond Fund, Inc.

Federated Hermes Ohio Municipal Income Fund

Federated Hermes Pennsylvania Municipal Income Fund

Federated Hermes Premier Municipal Income Fund

Federated Hermes Short-Intermediate Duration Municipal Fund

Federated Hermes Strategic Value Dividend Fund

 

* Will liquidate on or about January 22, 2021.

 
 

 

THIRTY-FOURTH AMENDMENT TO

CUSTODY AGREEMENT

 

THIS AMENDMENT TO CUSTODY AGREEMENT (“Amendment”) is by and between the registered investment companies listed on Schedule II to the Agreement, as may be amended from time to time, (each standalone registered investment company and each Series a “Fund” and collectively the “Funds”) and The Bank of New York Mellon (the “Custodian”).

W I T N E S S E T H:

 

WHEREAS, the Funds and the Custodian are parties to that certain Custody Agreement (the “Agreement”) dated June 7, 2005, as amended, and between the Funds listed on Schedule II of the Agreement, as amended and restated by Exhibit A attached hereto and the Custodian;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Custodian desire to remove funds from the Schedules;

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.       The Funds listed in Schedule II to the Agreement, Schedule I of the Joint Trading Account Agreement, and Schedule I of the Foreign Custody Manager Agreement are amended and restated to include the funds listed on Exhibit A attached hereto.

 

2.       Within the Non-Money Market Fund Fee Schedule, the section entitled “Funds” following the section entitled “Earnings Credit Arrangement” is replaced in its entirety with the section entitled “Funds” attached hereto as Exhibit B.

 

3.       The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of June 1, 2020.

 

Each of the registered investment companies or series

thereof listed on Exhibit A attached hereto

 

By: ________________________________

Name: Ronald J. Ecoff

Title: Assistant Treasurer

 

THE BANK OF NEW YORK MELLON

 

 

By: _______________________________

Name: Kelly Carroll

Title: Vice-President

 
 

 

Exhibit A

Schedule II of the Custody Agreement;

Schedule I of the Joint Trading Account Agreement;

Schedule I of the Foreign Custody Manager Agreement

 

Revised June 1, 2021

 

A.       Non-Money Market Funds

 

Federated Hermes Emerging Market Debt Fund

Federated Hermes Emerging Markets Equity Fund

Federated Hermes Intermediate Municipal Fund

Federated Hermes Global Total Return Bond Fund

Federated Hermes Absolute Return Credit Fund

Federated Hermes Global Equity Fund

Federated Hermes Global Small Cap Fund

Federated Hermes International Developed Equity Fund

Federated Hermes SDG Engagement Equity Fund

Federated Hermes SDG Engagement High Yield Credit Fund

Federated Hermes Unconstrained Credit Fund

Federated Hermes US SMID Fund

Federated Hermes International Bond Strategy Portfolio

Federated Hermes International Dividend Strategy Portfolio

Federated Hermes International Equity Fund

Federated Hermes International Growth Fund

Federated Hermes International Leaders Fund

Federated Hermes International Small-Mid Company Fund

Federated Hermes International Strategic Value Dividend Fund

Federated Hermes Max-Cap Index Fund

Federated Hermes MDT Large Cap Value Fund

Federated Hermes Mid-Cap Index Fund

Federated Hermes Michigan Intermediate Municipal Fund

Federated Hermes Muni and Stock Advantage Fund

Federated Hermes Municipal High Yield Advantage Fund

Federated Hermes Municipal Ultrashort Fund

Federated Hermes Municipal Bond Fund, Inc.

Federated Hermes Ohio Municipal Income Fund

Federated Hermes Pennsylvania Municipal Income Fund

Federated Hermes Premier Municipal Income Fund

Federated Hermes Short-Intermediate Duration Municipal Fund

Federated Hermes Strategic Value Dividend Fund

 

B.       Money Market Funds

 

Federated Hermes Capital Reserves Fund

Federated Hermes Government Obligations Tax-Managed Fund

Federated Hermes Government Reserves Fund

Federated Hermes U.S. Treasury Cash Reserves

 

 

 
 

 

Exhibit B

Amended and Restated

Section entitled “Funds”

of the Non-Money Market Fund Fee Schedule

(Exhibit D to Amendment dated November 8, 2007)

 

Revised June 1, 2021

 

FUNDS

 

Federated Hermes Emerging Market Debt Fund

Federated Hermes Emerging Markets Equity Fund

Federated Hermes Intermediate Municipal Fund

Federated Hermes Global Total Return Bond Fund

Federated Hermes Absolute Return Credit Fund

Federated Hermes Global Equity Fund

Federated Hermes Global Small Cap Fund

Federated Hermes International Developed Equity Fund

Federated Hermes SDG Engagement Equity Fund

Federated Hermes SDG Engagement High Yield Credit Fund

Federated Hermes Unconstrained Credit Fund

Federated Hermes US SMID Fund

Federated Hermes International Bond Strategy Portfolio

Federated Hermes International Dividend Strategy Portfolio

Federated Hermes International Equity Fund

Federated Hermes International Growth Fund

Federated Hermes International Leaders Fund

Federated Hermes International Small-Mid Company Fund

Federated Hermes International Strategic Value Dividend Fund

Federated Hermes Max-Cap Index Fund

Federated Hermes MDT Large Cap Value Fund

Federated Hermes Mid-Cap Index Fund

Federated Hermes Michigan Intermediate Municipal Fund

Federated Hermes Muni and Stock Advantage Fund

Federated Hermes Municipal High Yield Advantage Fund

Federated Hermes Municipal Ultrashort Fund

Federated Hermes Municipal Bond Fund, Inc.

Federated Hermes Ohio Municipal Income Fund

Federated Hermes Pennsylvania Municipal Income Fund

Federated Hermes Premier Municipal Income Fund

Federated Hermes Short-Intermediate Duration Municipal Fund

Federated Hermes Strategic Value Dividend Fund

 

1 Fee is expressed in basis points (b.p.) per annum where 1b.p. equals one hundredth of one percent (i.e. 0.01%) and is calculated based upon month-end market value, unless stated otherwise.

2 A transaction is defined as a receipt or deliver-versus-payment, a free receive or deliver, maturities, or security transaction related to corporate events.

3 Eurobonds are held in Euroclear at a standard rate, but other types of securities (including but not limited to equities, domestic market debt and mutual funds) will be subject to a surcharge. In addition, certain transactions that are delivered within Euroclear or from a Euroclear account to a third party depository or settlement system, will be subject to a surcharge (surcharge schedule available upon request). NOTE: For all other markets listed above, surcharges may apply if a security is held outside of the local market.

4 This fee will be applicable for assets held on The Bank of New York Mellon’s custody or accounting systems but not held in custody within The Bank of New York Mellon’s network of subcustodian banks and agents.

1 Fee is expressed in basis points (b.p.) per annum where 1b.p. equals one hundredth of one percent (i.e. 0.01%) and is calculated based upon month-end market value, unless stated otherwise.

2 A transaction is defined as a receipt or deliver-versus-payment, a free receive or deliver, maturities, or security transaction related to corporate events.

3 Eurobonds are held in Euroclear at a standard rate, but other types of securities (including but not limited to equities, domestic market debt and mutual funds) will be subject to a surcharge. In addition, certain transactions that are delivered within Euroclear or from a Euroclear account to a third party depository or settlement system, will be subject to a surcharge (surcharge schedule available upon request). NOTE: For all other markets listed above, surcharges may apply if a security is held outside of the local market.

4 This fee will be applicable for assets held on The Bank of New York Mellon’s custody or accounting systems but not held in custody within The Bank of New York Mellon’s network of subcustodian banks and agents

5 A transaction is defined as a receipt or deliver-versus-payment, a free receive or deliver, maturities, or security transaction related to corporate events.

6 Fee is expressed in basis points (b.p.) per annum where 1b.p. equals one hundredth of one percent (i.e. 0.01%) and is calculated based upon month-end market value, unless stated otherwise.

7 Eurobonds are held in Euroclear at a standard rate, but other types of securities (including but not limited to equities, domestic market debt and mutual funds) will be subject to a surcharge. In addition, certain transactions that are delivered within Euroclear or from a Euroclear account to a third party depository or settlement system, will be subject to a surcharge (surcharge schedule available upon request). NOTE: For all other markets listed above, surcharges may apply if a security is held outside of the local market.

8 This fee will be applicable for assets held on The Bank of New York Mellon’s custody or accounting systems but not held in custody within The Bank of New York Mellon’s network of subcustodian banks and agents.

Exhibit 28 (h)(1)(c) under Form N-1A

Exhibit 10 under item 601/Reg. S-K



SERVICES AGREEMENT

THIS AGREEMENT, dated and effective as of January 1, 2004 (this “Agreement”) between FEDERATED INVESTMENT MANAGEMENT COMPANY, a Delaware statutory trust (the “Adviser”), and FEDERATED ADVISORY SERVICES COMPANY, a Delaware statutory trust (“FASC”),

WITNESSETH:

WHEREAS, the Adviser serves pursuant to advisory or subadvisory agreements (“Advisory Agreements”) as investment advisor or subadvisor to investment companies registered under the Investment Company Act of 1940 (the “1940 Act”) and/or separate accounts not required to be so registered (collectively, “Accounts”); and

WHEREAS, the Adviser desires to engage FASC to provide certain services to Adviser in connection with the services to be provided by the Adviser under the Advisory Agreements;

NOW, THEREFORE, the parties hereto, intending to be legally bound, agree as follows:

1. Services. FASC agrees to provide to the Adviser the services indicated in Exhibit A to this Agreement (the “Services”).

2. Fees. For its Services under this Agreement, Adviser agrees to pay FASC the Services Fees calculated and payable in accordance with Exhibit B to this Agreement.

3. Records. FASC shall create and maintain all necessary books and records in accordance with all applicable laws, rules and regulations, including but not limited to records required by Section 31(a) of the 1940 Act and the rules thereunder, as the same may be amended from time to time, pertaining to the Services performed by it and not otherwise created and maintained by another party. Where applicable, such records shall be maintained by FASC for the periods and in the places required by Rule 31a-2 under the 1940 Act. The books and records pertaining to any Account which are in the possession of FAS shall be the property of such Account. The Account, or its owners or authorized representatives, shall have access to such books and records at all times during FASC's normal business hours. Upon reasonable request, copies of any such books and records shall be provided promptly by FASC to the Account or the Account's owners or authorized representatives.

4. Limitation of Liability and Indemnification.

(a) FASC shall not be responsible for any error of judgment or mistake of law or for any loss suffered by the Advisor or any Account in connection with the matters to which this Agreement relates, except a loss resulting from willful malfeasance, bad faith or gross negligence on its part in the performance of its duties or from reckless disregard by it of its obligations and duties under this Agreement.

(b) The Adviser shall indemnify FASC and shall hold FASC harmless from and against any liability to any Account or to any other person which may incurred by or asserted against FASC for any action taken or omitted by it in performing the Services in accordance with the above standards, and any expenses (including the reasonable fees and expenses of its counsel) which may be incurred by FASC in investigating or defending itself against the assertion of any such liability. FASC shall give prompt notice to the Adviser of the assertion of any claim or liability which is reasonably likely to result in a claim for indemnification under this Section; provided that the failure to give such notice, or any delay in giving such notice, shall not lessen the obligation of the Adviser to indemnify FASC except to the extent it results in actual prejudice. The Adviser shall have the option, by notice to FASC, to assume the defense of any claim which may be the subject of indemnification hereunder. In the event such notice is given, the Adviser shall assume the defense of the claim, and FASC shall cooperate with the Adviser in such defense, subject to the obligation of the Adviser to reimburse FASC for the expenses resulting therefrom. In the event Adviser gives notice that it will assume the defense of any claim, the Adviser shall not be obligated to indemnify FASC for any further legal or other expenses incurred in investigating or defending such claim, except those incurred at the request of the Adviser or its counsel. FASC shall in no event compromise or settle any claim for which it may seek indemnification hereunder, except with the prior written consent of the Adviser or unless the Adviser fails, within 30 days after notice of the terms of such settlement, to notify FASC that it has assumed the defense of such claim and will indemnify FASC for any liability resulting therefrom.

(c) The Adviser and FASC are each hereby expressly put on notice of the limitation of liability set forth in the Declaration of Trust of the other party. Each party agrees that the obligations of the other party pursuant to this Agreement shall be limited solely to such party and its assets, and neither party shall seek satisfaction of any such obligation from the shareholders, trustees, officers, employees or agents of the other party, or any of them.

5. Duration and Termination.

(a) Subject to the remaining provisions of this Section, the term of this Agreement shall begin on the effective date first above written and shall continue until terminated by mutual agreement of the parties hereto or by either party on not less than 60 days’ written notice to the other party hereto.

(b) Notwithstanding the foregoing, to the extent that the Services to be provided with respect to any Account which is registered as an investment company under the 1940 Act (herein referred to as a “registered investment company”) are services referred to in the definition of “investment advisor” under Section 202(a)(11) of the Investment Company Act of 1940 (herein referred to as “investment advisory services”), then with respect to such Account, this Agreement:

(i) shall not commence until the effective date of its approval by the board of directors or trustees (“Board”) of such Account;

(ii) shall continue from year to year thereafter, subject to the provisions for termination and all other terms and conditions hereof, only if such continuation shall be specifically approved at least annually by a majority of the Board, including a majority of the members of the Board who are not parties to this Agreement or interested persons of any such party (other than as members of the Board) cast in person at a meeting called for that purpose;

(iii) may be terminated at any time without the payment of any penalty by the Board or by a vote of a majority of the outstanding voting securities (as defined in Section 2(a)(42) of the 1940 Act) of the Account on 60 days’ written notice to the Adviser;

(iv) shall automatically terminate in the event of (A) its assignment (as defined in the 1940 Act) or (B) termination of the Advisory Agreement for any reason whatsoever.

6. Amendment. This Agreement may be amended at any time by mutual written agreement of the parties hereto; provided, however, that no Amendment to this Agreement shall be effective with respect to any investment advisory services to be provided to any Account which is registered investment company unless, to the extent required by Section 15(a)(2) of the 1940 Act, such amendment has been approved both by the vote of a majority of the Board of the Account, including a majority of the members of the Board who are not parties to this Agreement or interested persons of any such party (other than as members of the Board), cast in person at a meeting called for that purpose and, where required by Section 15(a)(2) of the 1940 Act, on behalf of the Account by a majority of the outstanding voting securities of such Account as defined in Section 2(a)(42) of the 1940 Act.

7. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania.

8. Section Headings; Counterparts. The underlined Section headings in this Agreement are for convenience of reference only and shall not affect its construction or interpretation. This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original copy of this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement.

IN WITNESS WHEREOF, the parties hereto, through their duly authorized officers, have executed this Agreement as of the effective date first above written.

FEDERATED INVESTMENT MANAGEMENT COMPANY

By: /s/ G. Andrew Bonnewell

Name: G. Andrew Bonnewell

Title: Vice President

FEDERATED ADVISORY SERVICES COMPANY

By: /s/ Keith M. Schappert

Name: Keith M. Schappert

Title: President

 

 
 

EXHIBIT A

DESCRIPTION OF SERVICES

The following are the categories of Services to be provided by FASC to the Adviser pursuant to the Agreement:

1.       Performance attribution.  Performance attribution enables portfolio managers and senior management to identify the specific drivers behind each portfolio’s performance.  Performance attribution analysts are responsible for data integrity, creation of attribution reports and maintenance of attribution models.
2.       Administration and Risk Management.  Employees of Federated Advisory Services Company provide support to portfolio managers and other employees of affiliated advisers.  Such services may include development of risk management programs, production of portfolio and compliance reports for clients and/or fund Boards, completion of required broker and custody documentation, development and documentation of operational procedures, coordination of proxy voting activities, on-site support of hardware and software, etc.

 

Categories 1 and 2 above shall not be treated as “investment advisory services” for purposes of Section 5(b) of the Agreement.

 

 
 

EXHIBIT B

CALCULATION AND PAYMENT OF SERVICES FEES

For each Category of Services referenced in Exhibit A, Adviser shall pay FASC a Services Fee, payable monthly in arrears, determined according to the following formula:

Services Fee = Cost of Services x Adviser’s Assets under Management
Total Assets Under Management		 x (1 + Applicable Margin)

 

Where:

“Cost of Services” is FASC’s total Operating Costs incurred in providing the applicable Category of Services during the month to all investment advisers for which FASC provides that Category of Services.

“Adviser’s Assets under Management” is the total average assets under management for the month for all Accounts or portions thereof for which the Adviser acts as investment adviser or subadvisor and which utilize the Category of Services.

“Total Assets under Management” is the total average assets under management for the month for all Accounts or portions thereof for which all investment advisers (including the Adviser) to which FASC provides that Category of Services act as investment adviser or subadviser and which utilize the Category of Services.

“Applicable Margin” is 0.10.

“Operating Costs” means all operating expenses and non-operating expenses of FASC for the cost center(s) providing the applicable Category of Services.

 
 

AMENDMENT TO SERVICES AGREEMENT

This AMENDMENT TO SERVICES AGREEMENT, dated and effective as of March 30, 2009 (this “Amendment”), is made between FEDERATED INVESTMENT MANAGEMENT COMPANY, a Delaware statutory trust (the “Adviser”), and FEDERATED ADVISORY SERVICES COMPANY, a Delaware statutory trust (“FASC”). Capitalized terms used, but not defined, in this Amendment have the meanings given to such terms in the Services Agreement (as defined below).

RECITALS

WHEREAS, the Adviser and FASC have entered into that certain Services Agreement dated as of January 1, 2004 (as amended, the “Services Agreement”), pursuant to which FASC provides certain performance attribution, administration and risk management, equity trading and transaction settlement, fundamental analysis, and quantitative analysis services to Adviser in connection with Adviser providing investment advisory or sub-advisory services to investment companies registered under the Investment Company Act of 1940 (“1940 Act”) and/or separate accounts not required to be so registered (collectively, “Accounts”); and

WHEREAS, the Adviser and FASC desire to amend the Services indicated in Exhibit A to the Services Agreement, solely with respect to Accounts that are not investment companies registered under the 1940 Act, to provide that, as part of the administration and risk management services provided by FASC, FASC may provide certain coordination of client portfolios and related fixed income trade execution implementation and administration services to Adviser when Adviser is acting as adviser or sub-adviser with respect to such Accounts.

NOW, THEREFORE, the parties hereto, intending to be legally bound, agree as follows:

1.       Amendment to Exhibit A to Services Agreement. Solely with respect to Accounts that are not investment companies registered under the 1940 Act, the section of Exhibit A to the Services Agreement entitled “Administration and Risk Management” shall be, and hereby is, deleted in its entirety and replaced with the following:

“2. Administration and Risk Management. Employees of Federated Advisory Services Company provide support to portfolio managers and other employees of affiliated advisers. Such services may include development of risk management programs, production of portfolio and compliance reports for clients and/or fund Boards, coordination of client portfolios and related fixed income trade execution implementation and administration, completion of required broker and custody documentation, development and documentation of operational procedures, coordination of proxy voting activities, on-site support of hardware and software, etc.”

2.       Miscellaneous. This Amendment shall be effective as of the date first above written upon its execution and delivery by each of the parties hereto. The Services Agreement, as amended by this Amendment with respect to Accounts that are not investment companies registered under the 1940 Act, shall remain in full force and effect. The Services Agreement also shall remain in full force and effect without amendment with respect to Accounts that are investment companies under the 1940 Act. This Amendment shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania. This Amendment may be executed in one or more counterparts, each of which will be deemed to be an original copy of this Amendment and all of which, when taken together, will be deemed to constitute one and the same agreement.

IN WITNESS WHEREOF, the parties hereto, through their duly authorized officers, have executed this Amendment as of the date first above written.

 

FEDERATED INVESTMENT MANAGEMENT COMPANY FEDERATED ADVISORY SERVICES COMPANY
By:  /s/ John B. Fisher By:  /s/ J. Christopher Donahue
Name:  John B. Fisher Name:  J. Christopher Donahue
Title:  President Title:  Chairman

 

 
 

 

SECOND AMENDMENT TO SERVICES AGREEMENT

 

This SECOND AMENDMENT TO SERVICES AGREEMENT, dated and effective as of March 1, 2016, (this “Second Amendment”), is made between FEDERATED INVESTMENT MANAGEMENT COMPANY, a Delaware statutory trust (the “Adviser”), and FEDERATED ADVISORY SERVICES COMPANY, a Delaware statutory trust (“FASC”). Capitalized terms used, but not defined, in this Amendment have the meanings given to such terms in the Services Agreement (as defined below).

 

RECITALS

 

WHEREAS, the Adviser and FASC have entered into that certain Services Agreement dated as of January 1, 2004 (as amended, the “Services Agreement”), pursuant to which FASC provides certain performance attribution and administration and risk management services to Adviser in connection with Adviser providing investment advisory or sub-advisory services to investment companies registered under the Investment Company Act of 1940 (“1940 Act”) and/or separate accounts not required to be so registered (collectively, “Accounts”);

 

WHEREAS, the Adviser and FASC have entered into the Amendment to Services Agreement dated as of March 30, 2009 (the “Amendment”), pursuant to which the Services indicated in Exhibit A to the Services Agreement were amended solely with respect to Accounts that are not investment companies registered under the 1940 Act, to provide that, as part of the administration and risk management services provided by FASC, FASC may provide certain coordination of client portfolios and related fixed income trade execution implementation and administration services to Adviser when Adviser is acting as adviser or sub-adviser with respect to such Accounts; and

 

WHEREAS, the Adviser and FASC desire to amend the Services indicated in Exhibit A to the Services Agreement, as amended, solely with respect to Accounts for which the Adviser trades in equity securities, equity derivatives and other related equity investments as part of the investment strategy for the Account, to provide that FASC may provide equity trading and transaction settlement, fundamental analysis and quantitative analysis services to Adviser when Adviser is acting as adviser or sub-adviser with respect to such Accounts.

 

NOW, THEREFORE, the parties hereto, intending to be legally bound, agree as follows:

 

1.       Second Amendment to Exhibit A to Services Agreement. Exhibit A to the Services Agreement shall be, and here by is, supplemented with the following:

 

“3. Equity Trading and Transaction Settlement. The equity trading desks execute buy and sell order based on instructions provided by affiliated advisers. The trading staff either places orders electronically or contacts brokers to place orders, find liquidity and seek price levels. Upon completion of a transaction, the transaction settlement group works with the broker and the account custodian to ensure timely and accurate exchange of securities and monies.

 

4.Fundamental Analysis. The equity investment analysts provide independent research and analysis of specific companies within a sector. Typically, analysis includes review of published reports, interviews of company management, on-site observation of company operations, and the use of various financial models. In addition, analysts read trade journals, attend industry conferences, and focus on trends within the sector and industry. Based on this proprietary analysis, the analyst makes buy, sell or hold recommendations to the Adviser.

 

5.Quantitative Analysis. Quantitative analysts develop and apply financial models designed to enable equity portfolio managers and fundamental analysts to screen potential and current investments, assess relative risk and enhance performance relative to benchmarks and peers.

 

To the extent that such services are to be provided with respect to any Account which is a registered investment company, Categories 3, 4 and 5 above shall be treated as “investment advisory services” for purposes of Section 5(b) of the Agreement.”

 

2.       Miscellaneous. This Second Amendment shall be effective as of the date first above written upon its execution and delivery by each of the parties hereto. The Services Agreement, as amended by the Amendment and this Second Amendment with respect to Accounts for which the Adviser trades in equity securities, equity derivatives and other related equity investments as part of the investment strategy for the Account, shall remain in full force and effect. The Services Agreement, as amended by the Amendment, also shall remain in full force and effect without this Second Amendment with respect to Accounts for which the Adviser does not trade in equity securities, equity derivatives and other related equity investments as part of the investment strategy for the Account. This Second Amendment shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania. This Second Amendment may be executed in one or more counterparts, each of which will be deemed to be an original copy of this Second Amendment and all of which, when taken together, will be deemed to constitute one and the same agreement.

 

IN WITNESS WHEREOF, the parties hereto, through their duly authorized officers, have executed this Second Amendment as of the date first above written.

 

 

FEDERATED INVESTMENT MANAGEMENT COMPANY FEDERATED ADVISORY SERVICES COMPANY
By:  /s/ John B. Fisher By:  /s/ J. Christopher Donahue
Name:  John B. Fisher Name:  J. Christopher Donahue
Title:  President Title:  Chairman

 

 

 

 

 
 

LIMITED POWER OF ATTORNEY

KNOW ALL MEN BY THESE PRESENTS, dated as of January 1, 2004, that FEDERATED INVESTMENT MANAGEMENT COMPANY, a statutory trust duly organized under the laws of the State of Delaware (the “Adviser”), does hereby nominate, constitute and appoint FEDERATED ADVISORY SERVICES COMPANY, a statutory trust duly organized under the laws of the State of Delaware ("FASC"), to act hereunder as the true and lawful agent and attorney-in-fact of the Adviser, acting on behalf of each of the funds or accounts for which Adviser acts as investment adviser or subadviser shown on Schedule 1 attached hereto and incorporated by reference herein (each such fund or account being hereinafter referred to as a "Fund" and collectively as the "Funds"), for the specific purpose of executing and delivering all such agreements, instruments, contracts, assignments, bond powers, stock powers, transfer instructions, receipts, waivers, consents and other documents, and performing all such acts, as Adviser, or FASC acting as agent for the Adviser pursuant to the Services Agreement dated as of January 1, 2004 between the Adviser and FASC (such agreement, as may be amended, supplemented or otherwise modified from time to time is hereinafter referred to as the “Services Agreement”), may deem necessary or reasonably desirable, related to the acquisition, disposition and/or reinvestment of the funds and assets of a Fund in accordance with Adviser's supervision of the investment, sale and reinvestment of the funds and assets of each Fund pursuant to the authority granted to the Adviser as investment adviser or subadviser of each Fund under the Adviser’s investment advisory or subadvisory contract for such Fund (such investment advisory or subadvisory contract, as may be amended, supplemented or otherwise modified from time to time is hereinafter referred to as the "Investment Advisory Contract").

The Adviser hereby ratifies and confirms as good and effectual, at law or in equity, all that FASC, and its officers and employees, may do by virtue hereof. However, despite the above provisions, nothing herein shall be construed as imposing a duty on FASC to act or assume responsibility for any matters referred to above or other matters even though FASC may have power or authority hereunder to do so. Nothing in this Limited Power of Attorney shall be construed (i) to be an amendment or modifications of, or supplement to, the Investment Advisory Contract, (ii) to amend, modify, limit or denigrate any duties, obligations or liabilities of the Adviser under the terms of the Investment Advisory Contract or (iii) exonerate, relieve or release the Adviser from any losses, obligations, penalties, actions, judgments and suits and other costs, expenses and disbursements of any kind or nature whatsoever which may be imposed on, incurred by or asserted against the Adviser (x) under the terms of the Investment Advisory Contract or (y) at law, or in equity, for the performance of its duties as the investment adviser or subadviser of any of the Funds.

The Adviser hereby agrees to indemnify and save harmless FASC and its trustees, officers and employees (each of the foregoing an "Indemnified Party" and collectively the "Indemnified Parties") against and from any and all losses, obligations, penalties, actions, judgments and suits and other costs, expenses and disbursements of any kind or nature whatsoever which may be imposed on, incurred by or asserted against an Indemnified Party, other than as a consequence of gross negligence or willful misconduct on the part of an Indemnified Party, arising out of or in connection with this Limited Power of Attorney or any other agreement, instrument or document executed in connection with the exercise of the authority granted to FASC herein to act on behalf of the Adviser, including without limitation the reasonable costs, expenses and disbursements in connection with defending such Indemnified Party against any claim or liability related to the exercise or performance of any of FASC's powers or duties under this Limited Power of Attorney or any of the other agreements, instruments or documents executed in connection with the exercise of the authority granted to FASC herein to act on behalf of the Adviser, or the taking of any action under or in connection with any of the foregoing. The obligations of the Adviser under this paragraph shall survive the termination of this Limited Power of Attorney with respect to actions taken by FASC on behalf of the Adviser during the term of this Limited Power of Attorney.

Any person, partnership, corporation or other legal entity dealing with FASC in its capacity as attorney-in-fact hereunder for the Adviser on behalf of any Fund is hereby expressly put on notice that FASC is acting solely in the capacity as an agent of the Adviser as agent for the Fund and that any such person, partnership, corporation or other legal entity must look solely to the Fund in question for enforcement of any claim against the Fund, as FASC assumes no personal liability whatsoever for obligations of the Fund entered into by FASC in its capacity as attorney-in-fact for the Adviser.

Each person, partnership, corporation or other legal entity which deals with a Fund through FASC in its capacity as agent and attorney-in-fact of the Adviser, is hereby expressly put on notice (i) that all persons or entities dealing with the Fund must look solely to the assets of the Fund on whose behalf FASC is acting pursuant to its powers hereunder for enforcement of any claim against the Fund, as the trustees, officers and/or agents of such Fund, the shareholders of the various classes of shares of the Fund, and the other Funds of the trust or corporation of which a Fund may be a series, assume no personal liability whatsoever for obligations entered into on behalf of such Fund, and (ii) that the rights, liabilities and obligations of any one Fund are separate and distinct from those of any other Fund.

The execution of this Limited Power of Attorney by the Adviser acting on behalf of the several Funds shall not be deemed to evidence the existence of any express or implied joint undertaking or appointment by and among any or all of the Funds. Liability for or recourse under or upon any undertaking of FASC pursuant to the power or authority granted to FASC under this Limited Power of Attorney under any rule of law, statute or constitution or by the enforcement of any assessment or penalty or by legal or equitable proceedings or otherwise shall be limited only to the assets of the Fund on whose behalf FASC was acting pursuant to the authority granted hereunder.

The Adviser hereby agrees that no person, partnership, corporation or other legal entity dealing with FASC shall be bound to inquire into FASC's power and authority hereunder and any such person, partnership, corporation or other legal entity shall be fully protected in relying on such power or authority unless such person, partnership, corporation or other legal entity has received prior written notice from the Adviser that this Limited Power of Attorney has been revoked. This Limited Power of Attorney shall be revoked and terminated automatically upon the cancellation or termination of the Services Agreement or as to any Fund upon the cancellation or termination of the Adviser’s Investment Advisory Contract for such Fund. Except as provided in the immediately preceding sentence, the powers and authorities herein granted may be revoked or terminated by the Adviser at any time provided that no such revocation or termination shall be effective until FASC has received actual notice of such revocation or termination in writing from the Adviser.

This Limited Power of Attorney constitutes the entire agreement between the Adviser and FASC and may be changed only by a writing signed by both of them, except that the Adviser may at any time change the list of Funds to which this Limited Power of Attorney relates by executing and delivering to FASC a later dated version of Schedule 1. This Limited Power of Attorney shall bind and benefit the respective successors and assigns of the Adviser and FASC; provided, however, that FASC shall have no power or authority hereunder to appoint a successor or substitute attorney in fact for the Adviser or any Fund.

This Limited Power of Attorney shall be governed and construed in accordance with the laws of the Commonwealth of Pennsylvania without reference to principles of conflicts of laws. If any provision hereof, or any power or authority conferred upon FASC herein, would be invalid or unexercisable under applicable law, then such provision, power or authority shall be deemed modified to the extent necessary to render it valid or exercisable while most nearly preserving its original intent, and no provision hereof, or power or authority conferred upon FASC herein, shall be affected by the invalidity or the non-exercisability of another provision hereof, or of another power or authority conferred herein.

This Limited Power of Attorney may be executed in as many identical counterparts as may be convenient and by the different parties hereto on separate counterparts. This Limited Power of Attorney shall become binding on the Adviser when the Adviser shall have executed at least one counterpart and FASC shall have accepted its appointment by executing this Limited Power of Attorney. Immediately after the execution of a counterpart original of this Limited Power of Attorney and solely for the convenience of the parties hereto, the Adviser and FASC will execute sufficient counterparts so that FASC shall have a counterpart executed by it and the Adviser, and the Adviser shall have a counterpart executed by the Adviser and FASC. Each counterpart shall be deemed an original and all such taken together shall constitute but one and the same instrument, and it shall not be necessary in making proof of this Limited Power of Attorney to produce or account for more than one such counterpart.

 
 

IN WITNESS WHEREOF, the Adviser has caused this Limited Power of Attorney to be executed by its duly authorized officer as of the date first written above.

 

FEDERATED INVESTMENT MANAGEMENT COMPANY

By: /s/ Keith M. Schappert

Name Keith M. Schappert

Title: President

Accepted and agreed to this

January 1, 2004

 

FEDERATED ADVISORY SERVICES COMPANY

By: /s/ G. Andrew Bonnewell

Name: G. Andrew Bonnewell

Title: Vice President

 

 
 

 

Schedule 1
to Limited Power of Attorney
dated as of January 1, 2004
revised June 1, 2021
by FEDERATED INVESTMENT MANAGEMENT COMPANY (the Adviser "),
acting on behalf of each of the funds and accounts listed below, and appointing
FEDERATED ADVISORY SERVICES COMPANY
the attorney-in-fact of the Adviser

 

List of Funds and Accounts

 

Emerging Markets Core Fund

Federated Hermes Adjustable Rate Fund

Bank Loan Core Fund

Federated Hermes Corporate Bond Fund

Federated Hermes California Municipal Cash Trust

Federated Hermes Capital Reserves Fund

Federated Hermes Conservative Microshort Fund

Federated Hermes Conservative Municipal Microshort Fund

Federated Hermes Corporate Bond Strategy Portfolio

Federated Hermes Emerging Market Debt Fund

Federated Hermes Floating Rate Strategic Income Fund

Federated Hermes Fund for U.S. Government Securities

Federated Hermes Fund for U.S. Government Securities II

Federated Hermes Government Income Securities, Inc.

Federated Hermes Government Income Fund

Federated Hermes Government Obligations Fund

Federated Hermes Government Obligations Tax-Managed Fund

Federated Hermes Government Reserves Fund

Federated Hermes Government Ultrashort Fund

Federated Hermes Absolute Return Credit Fund

Federated Hermes SDG Engagement High Yield Credit Fund

Federated Hermes Unconstrained Credit Fund

Federated Hermes High Income Bond Fund II

Federated Hermes High Income Bond Fund, Inc.

Federated Hermes High Yield Strategy Portfolio

Federated Hermes Opportunistic High Yield Bond Fund

Federated Hermes Institutional High Yield Bond Fund

Federated Hermes Intermediate Corporate Bond Fund

Federated Hermes Intermediate Municipal Fund

Federated Hermes Global Total Return Bond Fund

Federated Hermes International Bond Strategy Portfolio

Federated Hermes Managed Volatility Fund II

Federated Hermes Michigan Intermediate Municipal Fund

Federated Hermes Institutional Money Market Management

Federated Mortgage Core Portfolio

Federated Hermes Core Bond Fund

Federated Hermes Mortgage Strategy Portfolio

Federated Hermes Municipal High Yield Advantage Fund

Federated Hermes Municipal Obligations Fund

Federated Hermes Municipal Ultrashort Fund

Federated Hermes New York Municipal Cash Trust

Federated Hermes Ohio Municipal Income Fund

Federated Hermes Pennsylvania Municipal Income Fund

Federated Hermes Premier Municipal Income Fund

Federated Hermes Prime Cash Obligations Fund

Federated Hermes Prime Money Fund II

Federated Hermes Institutional Prime Obligations Fund

Federated Hermes Institutional Prime Value Obligations Fund

Project and Trade Finance Core Fund

Federated Hermes Quality Bond Fund II

Federated Hermes Real Return Bond Fund

Federated Hermes Short-Intermediate Municipal Fund

Federated Hermes Short-Intermediate Total Return Bond Fund

Federated Hermes Short-Term Income Fund

Federated Hermes Strategic Income Fund

Federated Hermes Tax-Free Obligations Fund

Federated Hermes Institutional Tax-Free Cash Trust

Federated Hermes Total Return Bond Fund

Federated Hermes Total Return Government Bond Fund

Federated Trade Finance Income Fund

Federated Hermes Treasury Obligations Fund

Federated Hermes Trust for U.S. Treasury Obligations

Federated Hermes Short-Term Government Fund

Federated Hermes Short-Intermediate Government Fund

Federated Hermes U.S. Treasury Cash Reserves

Federated Hermes Ultrashort Bond Fund

Short Fixed Income Fund

AS - Federated High Yield Bond Fund

AS - Federated High Yield Portfolio

BB&T Funds Prime Money Market

Chesapeake Investors

Gartmore- Federated GVIT High Income

Great West- Maxim Federated Bond Fund

IDEX Federated Tax Exempt

ONatl - High Income Bond Portfolio

SA - Corporate Bond Portfolio

Trav - High Yield Portfolio

 

 


Exhibit 28 (h)(1)(d) under Form N-1A

Exhibit 10 under item 601/Reg. S-K

 

 

SECOND AMENDED AND RESTATED SERVICES AGREEMENT

THIS AGREEMENT, amended and restated as of December 1, 2001, is entered into between each Fund listed on Schedule 1, as may be amended from time to time, severally and not jointly, and Federated Shareholder Services Company, ("FSSC"). Unless otherwise defined herein, Section 10 sets forth the definition of capitalized terms used in this Agreement.

WHEREAS, Schedule 1 to this Agreement sets forth the classes of Shares for which the Funds will compensate persons who agree to provide services to Shareholders and assist in the maintenance of Shareholder accounts (“Services”);

WHEREAS, FSSC and certain of the Funds entered into a Shareholder Services Agreement dated March 1, 1994 and amended September 1, 1995, (the “Prior Agreement”) which provided for FSSC to enter into agreements for Services with third parties (“Third-Party Agreements”) and to utilize fees received under the Prior Agreement to compensate third parties pursuant to such Third-Party Agreements;

WHEREAS, it is contemplated that hereafter, the Funds will compensate third-parties for Services directly, and that FSSC will no longer enter into Third-Party Agreements;

WHEREAS, FSSC will continue to compensate third parties pursuant to any Third-Party Agreements and the Funds will continue to make payments to FSSC to fund those obligations; and

WHEREAS, FSSC will also receive fees for Services it provides to Shareholders under this Agreement.

NOW THEREFORE, the parties agree to amend and restate the Agreement as follows:

SECTION1.                       Agreement to Provide Services

(a)             Services. FSSC agrees to provide Services for Shareholders of the Funds that have fully-disclosed accounts in the Funds for which either (i) Federated Securities Corp. or any other affiliate of FSSC is the dealer of record; or (ii) for which the dealer of record does not provide Services (collectively, the “FSSC Accounts”). FSSC shall also provide Services or cause Services to be provided to Shareholders whose accounts are subject to Third-Party Agreements. Services shall include, but are not limited to, telephone, mail or electronic communications with Shareholders.

(b)             Delivery of Disclosure Documents. Upon request by a customer that is a Shareholder of the Funds, FSSC will send a copy of the current Prospectus (and, if expressly requested, Statement of Additional Information), annual report or semi-annual report for any Fund (“Disclosure Documents”) to the customer within three (3) business days of such request.

(i)The Funds will furnish to FSSC at the Funds’ own expense such number of copies of the then-current Disclosure Documents as FSSC requests to satisfy its obligations under this paragraph.
(ii)FSSC covenants to the Funds that it will not make any representations concerning any Shares other than those contained in the Disclosure Documents of the applicable Fund.
(iii)The parties may agree from time to time to set appropriate security procedures and to perform electronically certain of their obligations under this Agreement, including without limitation the delivery of requested Disclosure Documents.

(c)             FSSC shall not have any obligation to pay the cost of producing or delivering Disclosure Documents or any other costs incurred by the Funds in connection with the Services provided hereunder.

SECTION2.                       Service Fees Payable to FSSC

(a)             During the term of this Agreement, FSSC will be entitled to receive from each Fund as full compensation for Services rendered hereunder a fee calculated daily at an annual rate, as set forth Schedule 1 to this Agreement, of up to 0.25% of average net assets held in FSSC Accounts of each Fund. Service fees paid by the Funds are in addition to other fees paid by the Funds such as those paid pursuant to an Agreement for Fund Accounting Services, Administrative Services, Transfer Agency Services and Custody Services Procurement and fees paid pursuant to each Fund’s Distributor’s Contract.

(b)             For so long as any Third-Party Agreement remains in effect, FSSC shall be entitled to receive fees from the Funds calculated daily at an annual rate, as set forth in Schedule 1 to this Agreement, of up to 0.25% on the average net assets held in accounts of each Fund for which Services are provided by such third-parties which amount shall be paid by FSSC in accordance with such Third-Party Agreements.

 

(c)             The Funds shall pay service fees to FSSC in accordance with their regular payment schedules. For the payment period in which this Agreement becomes effective or terminates with respect to any Fund, there shall be an appropriate proration of the fee on the basis of the number of days that this Agreement is in effect with respect to such Fund during the period.

SECTION3.                       Agreements with Other Service Providers

Each Fund hereby appoints FSSC as the Fund’s agent to enter into agreements with financial intermediaries that are not registered as broker/dealers under the 1934 Act (each an “Unregistered Intermediary”) to provide Services to their customers that are Shareholders of the Fund. Each Fund agrees to pay Service Fees at an annual rate as set forth in Schedule 1 to this Agreement of up to 0.25% of the average net assets held in Fund accounts for which an Unregistered Intermediary has agreed to provide Services. Any such accounts shall not be treated as FSSC Accounts for purposes of this Agreement.

SECTION4.                       Representations

(a)             Each party represents and warrants to the other party that:

(i)Status. It is duly organized and validly existing under the laws of the jurisdiction of its organization or incorporation and, if relevant under such laws, in good standing.
(ii)Powers. It has the power to execute this Agreement and any other documentation relating to this Agreement to which it is a party, to deliver this Agreement and any other documentation relating to this Agreement that it is required by this Agreement to deliver and to perform its obligations under this Agreement and has taken all necessary action to authorize such execution, delivery and performance.
(iii)No Violation or Conflict. Such execution, delivery and performance do not violate or conflict with any law applicable to it, any provision of its constitutional documents, any order or judgment of any court or other agency of government applicable to it or any contractual restriction binding on or affecting it.
(iv)Obligations Binding. Its obligations under this Agreement constitute its legal, valid and binding obligations, enforceable in accordance with their respective terms (subject to applicable bankruptcy, reorganization, insolvency, moratorium or similar laws affecting creditors’ rights generally and subject, as to enforceability, to equitable principles of general application regardless of whether enforcement is sought in a proceeding in equity or law).
(v)Compliance with Laws. It will comply in all material respects with all applicable laws and orders to which it may be subject if failure to so comply would materially impair its ability to perform its obligations under this Agreement.
SECTION5.                       Indemnification and Limitation of Liability

(a)             In the absence of willful misfeasance, bad faith, gross negligence or reckless disregard of obligations or duties hereunder on the part of FSSC and its trustees, officers, employees, agents and representatives, the Funds agree to indemnify FSSC and its trustees, officers, employees, agents and representatives against any and all claims, demands, liabilities and reasonable expenses (including attorneys’ fees), related to or otherwise connected with (i) any breach by the Funds of any provision of this Agreement; or (ii) any action by a Fund’s Shareholder against FSSC.

(b)             FSSC shall not be liable for any error of judgment or mistake of law or for any loss suffered by any Fund in connection with the matters to which this Agreement relates, except a loss resulting from willful misfeasance, bad faith or gross negligence on its part in the performance of its duties or from reckless disregard by it of its obligations and duties under this Agreement. In no event shall FSSC be liable for indirect or consequential damages.

(c)             Any person, even though also an officer, trustee, partner, employee or agent of FSSC, who may be or become an officer, employee or agent of any Fund or a member of a Fund's Board, shall be deemed, when rendering services to such Fund or acting on any business of such Fund (other than services or business in connection with the duties of FSSC hereunder) to be rendering such services to or acting solely for such Fund and not as an officer, trustee, partner, employee or agent or one under the control or direction of FSSC even though paid by FSSC.

(d)             FSSC is expressly put on notice of the limitation of liability as set forth in the Declaration of Trust of each Fund that is a Massachusetts business trust and agrees that the obligations assumed by each such Fund pursuant to this Agreement shall be limited in any case to such Fund and its assets and that FSSC shall not seek satisfaction of any such obligations from the Shareholders of such Fund, the Trustees, Officers, Employees or Agents of such Fund, or any of them.

(e)             The provisions of this Section shall survive the termination of this Agreement.

 
 
SECTION6.                       Privacy Policy

(a)             The parties acknowledge that:

(i)The Securities and Exchange Commission has adopted Regulation S-P at 17 CFR Part 248 to protect the privacy of individuals who obtain a financial product or service for personal, family or household use;
(ii)Regulation S-P permits financial institutions, such as the Funds, to disclose “nonpublic personal information” (“NPI”) of its “customers” and “consumers” (as those terms are therein defined in Regulation S-P) to affiliated and nonaffiliated third parties of the Funds, without giving such customers and consumers the ability to opt out of such disclosure, for the limited purposes of processing and servicing transactions (17 CFR § 248.14); for specified law enforcement and miscellaneous purposes (17 CFR § 248.15); and to service providers or in connection with joint marketing arrangements (17 CFR § 248.13); and
(iii)Regulation S-P provides that the right of a customer and consumer to opt out of having his or her NPI disclosed pursuant to 17 CFR § 248.7 and 17 CFR § 248.10 does not apply when the NPI is disclosed to service providers or in connection with joint marketing arrangements, provided the Fund and third party enter into a contractual agreement that prohibits the third party from disclosing or using the information other than to carry out the purposes for which the Fund disclosed the information (17 CFR § 248.13).

(b)             The parties agree that the Funds may disclose Shareholder NPI to FSSC as agent of the Funds and solely in furtherance of fulfilling FSSC’s contractual obligations under the Agreement in the ordinary course of business to support the Funds and their Shareholders.

(c)             FSSC hereby agrees to be bound to use and redisclose such NPI only for the limited purpose of fulfilling its duties and obligations under the Agreement, for law enforcement and miscellaneous purposes as permitted in 17 CFR §248.15, or in connection with joint marketing arrangements that the Funds may establish with FSSC in accordance with the limited exception set forth in 17 CFR 248.13.

(d)             FSSC represents and warrants that, in accordance with 17 CFR § 248.30, it has implemented, and will continue to carry out for the term of the Agreement, policies and procedures reasonably designed to:

(i)Insure the security and confidentiality of records and NPI of Fund customers;
(ii)Protect against any anticipated threats or hazards to the security or integrity of Fund customer records and NPI; and
(iii)Protect against unauthorized access or use of such Fund customer records or NPI that could result in substantial harm or inconvenience to any Fund customer.

(e)             FSSC may redisclose Section 248.13 NPI only to: (a) the Funds and affiliated persons of the Funds (“Fund Affiliates”); (b) affiliated persons of FSSC (“Service Provider Affiliates”) (which in turn may disclose or use the information only to the extent permitted under the original receipt); (c) a third party not affiliated with FSSC or the Funds (“Nonaffiliated Third Party”) under the service and processing (§248.14) or miscellaneous (§248.15) exceptions, but only in the ordinary course of business to carry out the activity covered by the exception under which FSSC received the information in the first instance; and (d) a Nonaffiliated Third Party under the service provider and joint marketing exception (§248.13), provided FSSC enters into a written contract with the Nonaffiliated Third Party that prohibits the Nonaffiliated Third Party from disclosing or using the information other than to carry out the purposes for which the Funds disclosed the information in the first instance.

(f)             FSSC may redisclose Section 248.14 NPI and Section 248.15 NPI to: (a) the Funds and Fund Affiliates; (b) Service Provider Affiliates (which in turn may disclose the information to the same extent permitted under the original receipt); and (c) a Nonaffiliated Third Party to whom the Funds might lawfully have disclosed NPI directly.

(g)             The provisions of this Section shall survive the termination of the Agreement.

SECTION7.                       Notices

(a)             All notices of any kind to be given hereunder shall be given in writing and delivered by personal delivery or by postage prepaid, registered or certified United States first class mail, return receipt requested, overnight courier services, or by fax or e-mail (with confirming copy by mail).

(b)             Unless otherwise notified in writing, all notices to any Fund shall be given or sent to such Fund at:

5800 Corporate Drive

Pittsburgh, Pennsylvania 15237-7000

Attention: President

(c)             Unless otherwise notified in writing, all notices to FSSC shall be given or sent to:

Federated Investors Tower

1001 Liberty Avenue

Pittsburgh, Pennsylvania 15222-3779

Attention: President

SECTION8.                       Assignments and No Third-Party Rights

(a)             Except for any Third-Party Agreements entered into prior to the date of this Agreement, this Agreement will not be assigned or subcontracted by either party, without prior written consent of the other party, except that either party may assign or subcontract this Agreement to an affiliate controlled, controlled by, or under common control with the assigning or subcontracting party without such consent. Subject to the preceding, this Agreement will apply to, be binding in all respects upon, and inure to the benefit of permitted assigns and subcontractors of the parties. In no event shall the Funds be obligated to make any payment under this Agreement to any person other than FSSC.

(b)             Nothing expressed or referred to in this Agreement will be construed to give anyone other than the parties to this Agreement any legal or equitable right, remedy or claim under or with respect to this Agreement or any provision of this Agreement. This Agreement and all of its provisions and conditions are for the sole and exclusive benefit of the parties to this Agreement and their permitted assigns and subcontractors.

SECTION9.                       Force Majeure

If either party is unable to carry out any of its obligations under this Agreement because of conditions beyond its reasonable control, including, but not limited to, acts of war or terrorism, work stoppages, fire, civil disobedience, delays associated with hardware malfunction or availability, riots, rebellions, storms, electrical failures, acts of God, and similar occurrences (“Force Majeure”), this Agreement will remain in effect and the non-performing party’s obligations shall be suspended without liability for a period equal to the period of the continuing Force Majeure (which period shall not exceed fifteen (15) business days), provided that:

(i)the non-performing party gives the other party prompt notice describing the Force Majeure, including the nature of the occurrence and its expected duration and, where reasonably practicable, continues to furnish regular reports with respect thereto during the period of Force Majeure;
(ii)the suspension of obligations is of no greater scope and of no longer duration than is required by the Force Majeure;
(iii)no obligations of either party that accrued before the Force Majeure are excused as a result of the Force Majeure;
(iv)the non-performing party uses all reasonable efforts to remedy its inability to perform as quickly as possible.
SECTION10.                    Definition of Terms

(a)             “1934 Act” means the Securities Exchange Act of 1934, and “1940 Act” means the Investment Company Act of 1940, in each case as amended and in effect at the relevant time.

(b)             “Fund” means an investment company registered under the 1940 Act and, in the case of a “series company” as defined in Rule 18f-2(a) under the 1940 Act, each individual portfolio of the series company, set forth on Schedule 1 to this Agreement from time to time. “Funds” means the Funds listed on Schedule 1 collectively.

(c)             “Prospectus” means, with respect to any Shares the most recent Prospectus and Statement of Additional Information (“SAI”) and any supplement thereto, pursuant to which a Fund publicly offers the Shares; provided, however, that this definition shall not be construed to require FSC, Dealer or any Fund to deliver any SAI other than at the express request of Dealer’s customer.

(d)             “Shares” means (1) shares of beneficial interest in a Fund organized as a business trust; and (2) shares of capital stock in a Fund organized as a corporation. With respect to a Fund that has established separate classes of Shares in accordance with Rule 18f-3 under the 1940 Act, Shares refers to the relevant class. “Shareholder” means the beneficial owner of any Share.

SECTION11.                    Miscellaneous

(a)             This Agreement may be terminated by either party by giving the other party at least sixty (60) days' written notice thereof.

(b)             This Agreement may be amended only by a writing signed by both parties, provided that, any Fund may amend Schedule 1 from time to time by sending a copy of the amended Schedule to FSSC. Any such amendment shall be effective ten (10) days after notice thereof.

(c)             This Agreement constitutes (along with its Schedules) a complete and exclusive statement of the terms of the agreement between the parties and supersedes any prior agreement with respect to its subject matter.

(d)             This Agreement has been entered into between FSSC and each Fund severally and not jointly, and the provisions this Agreement shall apply separately to each Fund. No Fund shall be obligated to make any payments to FSSC under this Agreement other than with respect to its Shares. No breach of this Agreement by a Fund, or by FSSC against a Fund, shall constitute a breach of this Agreement with respect to any other Fund.

(e)             This Agreement may be executed by different parties on separate counterparts, each of which, when so executed and delivered, shall be an original, and all such counterparts shall together constitute one and the same instrument.

(f)             If any provision of this Agreement is held invalid or unenforceable, the other provisions of this Agreement will remain in full force and effect. Any provision of this Agreement held invalid or unenforceable only in part or degree will remain in full force and effect to the extent not held invalid and unenforceable.

(g)             This Agreement will be governed by the laws of the Commonwealth of Pennsylvania, without regard to conflicts of laws principles thereof. Any action or proceeding seeking to enforce any provision of, or based on any right arising out of, this Agreement may be brought against the parties in the courts of the Commonwealth of Pennsylvania, County of Allegheny, or, if it has or can acquire jurisdiction, in the United States District Court for the Western District of Pennsylvania, and each of the parties consents to the jurisdiction of such courts (and of the appropriate appellate courts) in any such action or proceeding and waives any objection to venue laid therein. Each party waives its right to a jury trial.

IN WITNESS WHEREOF, the parties hereto have caused this instrument to be executed by their officers designated below as of the day and year first above written.

Attest: Funds (listed on Schedule 1)
   
   
/s/ John W. McGonigle By:/s/ John F. Donahue
John W. McGonigle John F. Donahue
Secretary Chairman
   
Attest: Federated Shareholder Services Company
   
   
/s/ Timothy S. Johnson By:  /s/ Arthur L. Cherry, Jr.
Timothy S. Johnson Arthur L. Cherry, Jr.
Secretary  

 

 

 

 
 

 

SCHEDULE 1

TO SECOND AMENDED AND RESTATED SERVICES AGREEMENT

(revised 6/1/21)

 

The following lists the Funds and Shares subject to the Second Amended and Restated Services Agreement (“Agreement”) which have the ability to charge the maximum 0.25% Service Fee payable by the Funds pursuant to the Agreement.

 

FEDERATED HERMES ADJUSTABLE RATE SECURITIES TRUST Institutional Shares
    Service Shares
 
FEDERATED HERMES ADVISER SERIES
  Federated Hermes Emerging Markets Equity Fund Class A Shares
    Class C Shares
    Institutional Shares
  Federated Hermes Absolute Credit Fund Class A Shares
    Class C Shares
    Institutional Shares
  Federated Hermes Conservative Microshort Fund Class A Shares
    Institutional Shares
  Federated Hermes Conservative Municipal Microshort Fund Class A Shares
    Institutional Shares
  Federated Hermes Global Equity Fund Class A Shares
    Class C Shares
    Institutional Shares
  Federated Hermes Global Small Cap Fund Class A Shares
    Class C Shares
    Institutional Shares
  Federated Hermes International Developed Equity Fund Class A Shares
    Class C Shares
    Institutional Shares
  Federated Hermes SDG Engagement Equity Fund Class A Shares
    Class C Shares
    Institutional Shares
  Federated Hermes SDG Engagement High Yield Credit Fund Class A Shares
    Class C Shares
    Institutional Shares
  Federated Hermes Unconstrained Credit Fund Class A Shares
    Class C Shares
    Institutional Shares
  Federated Hermes US SMID Fund Class A Shares
    Class C Shares
    Institutional Shares
  Federated Hermes International Equity Fund Class A Shares
    Class C Shares
    Institutional Shares
  Federated Hermes International Growth Fund Class A Shares
    Class C Shares
    Institutional Shares
  Federated Hermes MDT Large Cap Value Fund Service Shares
    Class A Shares
    Class C Shares
**** Federated Hermes MDT Market Neutral Fund Class A Shares
    Institutional Shares
     
     
     
FEDERATED EQUITY FUNDS
  Federated Hermes Clover Small Value Fund Class A Shares
    Class C Shares
  Federated Hermes International Strategic Value Dividend Fund Class A Shares
    Class C Shares
  Federated Hermes Kaufmann Fund Class A Shares
    Class C Shares
    Class R Shares
  Federated Hermes Kaufmann Large Cap Fund Class A Shares
    Class C Shares
  Federated Hermes Kaufmann Small Cap Fund Class A Shares
    Class C Shares
  Federated Hermes MDT Mid Cap Growth Fund Class A Shares
    Class C Shares
  Federated Hermes Prudent Bear Fund Class A Shares
    Class C Shares
  Federated Hermes Strategic Value Dividend Fund Class A Shares
    Class C Shares
 
FEDERATED HERMES EQUITY INCOME FUND, INC. Class A Shares
    Class C Shares
    Class F Shares
FEDERATED HERMES FIXED INCOME SECURITIES, INC.
  Federated Hermes Municipal Ultrashort Fund Class A Shares
     
  Federated Hermes Strategic Income Fund Class A Shares
    Class C Shares
    Class F Shares
     
FEDERATED HERMES GLOBAL ALLOCATION FUND Class A Shares
    Class C Shares
   
FEDERATED HERMES GOVERNMENT INCOME SECURITIES, INC. Class A Shares
    Class C Shares
    Class F Shares
    Institutional Shares
     
FEDERATED HERMES GOVERNMENT INCOME TRUST
  Federated Hermes Government Income Fund Institutional Shares
    Service Shares
     
FEDERATED HERMES HIGH INCOME BOND FUND, INC. Class A Shares
    Class C Shares
FEDERATED HERMES HIGH YIELD TRUST  
  Federated Hermes Opportunistic High Yield Fund Service Shares
    Class A Shares
    Class C Shares
FEDERATED HERMES INCOME SECURITIES TRUST
  Federated Hermes Capital Income Fund Class A Shares
    Class C Shares
    Class F Shares
  Federated Hermes Floating Rate Strategic Income Fund Class A Shares
    Class C Shares
  Federated Hermes Fund for U.S. Government Securities Class A Shares
    Class C Shares
    Institutional Shares
  Federated Hermes Intermediate Corporate Bond Fund Institutional Shares
    Service Shares
  Federated Hermes Muni and Stock Advantage Fund Class A Shares
    Class C Shares
    Class F Shares
  Federated Hermes Real Return Bond Fund Class A Shares
    Class C Shares
    Institutional Shares
  Federated Hermes Short-Term Income Fund Class A Shares
    Service Shares
     
FEDERATED HERMES INDEX TRUST
  Federated Hermes Max-Cap Index Fund Class C Shares
    Institutional Shares
    Service Shares
  Federated Hermes Mid-Cap Index Fund Service Shares
     
FEDERATED HERMES INSTITUTIONAL TRUST
  Federated Hermes Government Ultrashort Fund Class A Shares
    Service Shares
  Federated Hermes Institutional High Yield Bond Fund  
     
  Federated Hermes Short-Intermediate Total Return Bond Fund Class A Shares
    Service Shares
 
FEDERATED HERMES INSURANCE SERIES
  Federated Hermes Fund for US Government Securities II  
  Federated Hermes High Income Bond Fund II Primary Shares
    Service Shares
  Federated Hermes Kaufmann Fund II Primary Shares
    Service Shares
  Federated Hermes Managed Volatility Fund II  
  Federated Hermes Government Money Fund II Primary Shares
  Service Shares
   
FEDERATED HERMES INTERNATIONAL SERIES, INC.
  Federated Hermes Global Total Return Bond Fund Class A Shares
    Class C Shares
     
FEDERATED HERMES INVESTMENT SERIES FUNDS, INC.
  Federated Hermes Corporate Bond Fund Class A Shares
    Class C Shares
    Class F Shares
FEDERATED HERMES MDT SERIES
  Federated Hermes MDT All Cap Core Fund Class A Shares
    Class C Shares
  Federated Hermes MDT Large Cap Growth Fund Class A Shares
    Class C Shares
  Federated Hermes MDT Small Cap Core Fund Class A Shares
    Class C Shares
  Federated Hermes MDT Small Cap Growth Fund Class A Shares
    Class C Shares
  Federated Hermes MDT Balanced Fund Class A Shares
    Class C Shares
   
     
FEDERATED HERMES MUNICIPAL BOND FUND, INC. Class A Shares
    Class C Shares
    Class F Shares
    Institutional Shares
FEDERATED HERMES MUNICIPAL SECURITIES INCOME TRUST
  Federated Hermes Michigan Intermediate Municipal Fund Class A Shares
    Institutional Shares
  Federated Hermes Municipal High Yield Advantage Fund Class A Shares
    Class C Shares
    Class F Shares
  Federated Hermes Ohio Municipal Income Fund Class A Shares
    Class F Shares
    Institutional Shares
  Federated Hermes Pennsylvania Municipal Income Fund Class A Shares
    Class A Shares
    Institutional Shares
FEDERATED HERMES SHORT-INTERMEDIATE MUNICIPAL FUND Class A Shares  
    Institutional Shares  
    Service Shares  
       
FEDERATED HERMES TOTAL RETURN GOVERNMENT BOND FUND Service Shares  
       

FEDERATED HERMES TOTAL RETURN SERIES, INC.		  
  Federated Hermes Core Bond Fund (formerly, Federated Hermes Select Total Return Bond Fund) Institutional Shares  
    Class A Shares  
       
  Federated Hermes Total Return Bond Fund Class A Shares  
    Class C Shares  
    Service Shares  
  Federated Hermes Ultrashort Bond Fund Class A Shares  
    Institutional Shares  
    Service Shares  
   
FEDERATED HERMES SHORT-TERM GOVERNMENT TRUST Institutional Shares  
    Service Shares  
       
FEDERATED HERMES SHORT-INTERMEDIATE GOVERNMENT TRUST Institutional Shares  
    Service Shares  
       
FEDERATED HERMES WORLD INVESTMENT SERIES, INC.  
  Federated Hermes Emerging Market Debt Fund Class A Shares  
    Class C Shares  
       
  Federated Hermes International Leaders Fund Class A Shares  
    Class C Shares  
  Federated Hermes International Small-Mid Company Fund Class A Shares  
    Class C Shares  
FEDERATED HERMES INTERMEDIATE MUNICIPAL TRUST  
  Federated Hermes Intermediate Municipal Fund Institutional Shares  
       
FEDERATED HERMES MONEY MARKET OBLIGATIONS TRUST  
  Federated Hermes California Municipal Cash Trust Capital Shares  
    Cash II Shares  
    Cash Series Shares  
    Wealth Shares  
    Service Shares  
  Federated Hermes Capital Reserves Fund    
  Federated Hermes Government Obligations Fund Advisor Shares  
    Capital Shares  
    Cash II Shares  
    Cash Series Shares  
    Institutional Shares  
    Select Shares  
    Service Shares  
    Trust Shares  
  Federated Hermes Government Obligations Tax-Managed Fund Automated Shares  
    Institutional Shares  
    Service Shares  
  Federated Hermes Government Reserves Fund Class A Shares  
    Class C Shares  
    Class F Shares  
    Class P Shares  
  Federated Hermes Institutional Money Market Management Capital Shares  
    Eagle Shares  
    Institutional Shares  
    Service Shares  
  Federated Hermes Municipal Obligations Fund Automated Shares  
    Capital Shares  
    Cash II Shares  
    Cash Series Shares  
    Wealth Shares  
    Investment Shares  
    Service Shares  
  Federated Hermes New York Municipal Cash Trust Cash II Shares  
    Cash Series Shares  
    Service Shares  
    Wealth Shares  
  Federated Hermes Prime Cash Obligations Fund Advisor Shares  
    Automated Shares  
    Capital Shares  
    Cash II Shares  
    Cash Series Shares  
    Class R Shares  
    Wealth Shares  
    Service Shares  
    Trust Shares  
  Federated Hermes Institutional Prime Obligations Fund Capital Shares  
    Institutional Shares  
    Service Shares  
  Federated Hermes Institutional Prime Value Obligations Fund Capital Shares  
    Institutional Shares  
    Service Shares  
  Federated Hermes Tax-Free Obligations Fund Advisor Shares  
    Service Shares  
    Wealth Shares  
  Federated Hermes Institutional Tax-Free Cash Trust Institutional Shares  
    Premier Shares  
  Federated Hermes Treasury Obligations Fund Automated Shares  
    Capital Shares  
    Institutional Shares  
    Service Shares  
    Trust Shares  
  Federated Hermes Trust for U.S. Treasury Obligations Cash II Shares  
    Cash Series Shares  
    Institutional Shares  
  Federated Hermes U.S. Treasury Cash Reserves Institutional Shares  
    Service Shares  
           

 

 

****Federated Hermes MDT Market Neutral Fund is not effective yet.

 

 

 

Exhibit 28 (h)(4)(a) under Form N-1A

Exhibit 10 under item 601/Reg. S-K

 

 

FUND ACCOUNTING AGREEMENT

 

THIS AGREEMENT dated as of March 1, 2011 is made, severally and not jointly (except that the parties agree that the calculation required by paragraph 31 hereunder shall be joint and not several) by and between the registered investment companies listed on Schedule I to this Agreement, as it may be amended from time to time (each stand-alone registered investment company and each series company of a registered investment company a “Fund” and collectively the “Funds”) and The Bank of New York Mellon, a New York corporation authorized to do a banking business, having its principal place of business at One Wall Street, New York, New York 10286 (hereinafter called the “Bank”).

 

WITNESSETH:

 

In consideration of the mutual agreements herein contained, the Funds and the Bank hereby agree as follows:

 

1.       The Funds hereby appoint the Bank to perform the duties hereinafter set forth.

 

2.       The Bank hereby accepts appointment and agrees to perform the duties hereinafter set forth.

 

3.       Subject to the provisions of paragraphs 4 and 5 below, the Bank shall compute the net asset value per share of each class of shares of each Fund listed on Schedule I hereto (all references to “Fund” shall be deemed to include all classes of the Fund) and shall value the securities held by each Fund (the “Securities”) at such times and dates and in the manner specified in the then currently effective registration statement or offering memorandum (the “Offering Materials”) of each Fund, except that notwithstanding any language in the Offering Materials, in no event shall the Bank be required to determine, or have any obligations with respect to, whether a market price represents any fair or true value, nor to adjust any price to reflect any events or announcements, including, without limitation, those with respect to the issuer thereof, it being agreed that all such determinations and considerations shall be solely for each Fund. However, the Bank agrees to incorporate into its calculation of a Fund’s net asset value any price or factor given by a Fund or by a third party valuation service upon instruction by a Fund.

 

4.       To the extent valuation of Securities or computation of a Fund’s net asset value as specified in the Fund’s then currently effective Offering Materials is at any time inconsistent with any applicable laws or regulations, the Fund shall immediately so notify the Bank in writing and thereafter shall either furnish the Bank at all appropriate times with the values of such Securities and each Fund’s net asset value, or subject to the prior approval of the Bank, instruct the Bank in writing to value the Securities and compute each Fund’s net asset value in a manner which the Fund then represents in writing to be consistent with all applicable laws and regulations. A Fund may also from time to time, subject to the prior approval of the Bank, instruct the Bank in writing to compute the value of the Securities or a Fund’s net asset value in a manner other than as specified in paragraph 3 of this Agreement. By giving such instruction, the Fund shall be deemed to have represented that such instruction is consistent with all applicable laws and regulations and the then currently effective Offering Materials of the Fund. The Fund shall have sole responsibility for determining the method of valuation of Securities and the method of computing each Fund’s net asset value.

 

5.       The Fund shall furnish the Bank with any and all instructions, explanations, information, specifications and documentation as deemed reasonably necessary by the Bank in the performance of its duties hereunder, including, without limitation, the amounts or written formula for calculating the amounts and times of accrual of Fund’s liabilities and expenses. The Bank shall not be required to include as a Fund’s liabilities and expenses, nor as a reduction of net asset value, any accrual for any federal, state, or foreign income taxes unless the Fund shall have specified to the Bank the precise amount of the same to be included in liabilities and expenses or used to reduce net asset value. In calculating the prices for Securities the Bank will use the price services authorized by an authorized person for a Fund listed on Appendix B to this Agreement (“Authorized Persons List”). Such authorized person shall provide the list of authorized pricing services to the Bank in a writing signed by such authorized person substantially in the form of Appendix C to this Agreement. The Bank shall be entitled to rely on the last Appendix C signed by an authorized person actually received by the Bank. A Fund shall also furnish the Bank with bid, offer, or market values of Securities if the Bank notifies the Fund that same are not available to the Bank from a Fund’s Authorized Pricing Services. At any time and from time to time, a Fund also may furnish the Bank with bid, offer, or market values of Securities and instruct the Bank to use such information in its calculations hereunder.

 

6.       The Bank shall advise the Fund, the Fund’s custodian and the Fund’s transfer agent of the net asset value of each Fund upon completion of the computations required to be made by the Bank pursuant to this Agreement.

 

7.       The Bank shall, as agent for the Fund, maintain and keep current the books, accounts and other documents, if any, and perform the additional duties, listed in Appendix A hereto and made a part hereof, as such Appendix A may be amended from time to time. Such books, accounts and other documents shall be made available upon reasonable request for inspection by officers, employees and auditors of a Fund during the Bank’s normal business hours, and shall be preserved for a period of seven (7) years. The Bank and the Fund’s intend to enter into a Service Level Guidelines Agreement (“SLA”), that may be amended from time to time by the parties, that will outline the Fund’s expectations with respect to specific services to be provided by the Bank and the operational mechanics of providing such services.

 

8.       All records maintained and preserved by the Bank pursuant to this Agreement which a Fund is required to maintain and preserve in accordance with the above-mentioned Rules shall be and remain the property of a Fund and shall be surrendered to a Fund promptly upon request in the form in which such records have been maintained and preserved. Upon reasonable request of a Fund, the Bank shall provide in hard copy or electronic format, whichever the Bank shall elect, any records included in any such delivery which are maintained by the Bank on a computer disc, or are similarly maintained, and a Fund shall reimburse the Bank for its expenses of providing the same.

 

9.       The Bank, in performing the services required of it under the terms of this Agreement, shall be entitled to rely fully on the accuracy and validity of any and all instructions, explanations, information, specifications and documentation furnished to it by the Fund and shall have no duty or obligation to review the accuracy, validity or propriety of such instructions, explanations, information, specifications or documentation, including, without limitation, evaluations of Securities; the amounts or formula for calculating the amounts and times of accrual of a Fund’s liabilities and expenses; the amounts receivable and the amounts payable on the sale or purchase of Securities; the amounts receivable or amounts payable for the sale or redemption of Fund shares effected by or on behalf of the Fund. In the event the Bank’s computations hereunder rely, in whole or in part, upon information, including, without limitation, bid, offer or market values of Securities or other assets, or accruals of interest or earnings thereon, from Authorized Pricing Services, the Bank shall not be responsible for, under any duty to inquire into, or deemed to make any assurances with respect to, the accuracy or completeness of such information.

 

10.       The Bank shall not be required to inquire into any valuation of Securities or other assets by a Fund or any third party described in preceding paragraph 9 hereof, even though the Bank in performing services similar to the services provided pursuant to this Agreement for others may receive different valuations of the same or different securities of the same issuers.

 

11.        The Bank, in performing the services required of it under the terms of this Agreement, shall not be responsible for determining whether any interest accruable to a Fund is or will be actually paid, but will accrue such interest until otherwise instructed by a Fund.

 

12.       The Bank shall not be responsible or liable for any failure or delay in the performance of its obligations under this Agreement arising out of or caused, directly or indirectly, by circumstances beyond its reasonable control, including without limitation, acts of God; earthquakes; fires; floods; wars; civil or military disturbances; sabotage; epidemics; riots; interruptions; loss, malfunctions of utilities or communication services, accidents; labor disputes; acts of civil or military authority or governmental actions. Nor shall the Bank be responsible for delays or failures to supply the information or services specified in this Agreement where such delays or failures are caused by the failure of any person(s) other than the Bank to supply any instructions, explanations, information, specifications or documentation deemed reasonably necessary by the Bank in the performance of its duties under this Agreement.

 

13.       No provision of this Agreement shall prevent the Bank from offering services similar or identical to those covered by this Agreement to any other corporations, associations or entities of any kind. Any and all operational procedures, techniques and devices developed by the Bank in connection with the performance of its duties and obligations under this Agreement, including those developed in conjunction with a Fund, shall be and remain the property of the Bank, and the Bank shall be free to employ such procedures, techniques and devices in connection with the performance of any other contract with any other person whether or not such contract is similar or identical to this Agreement.

 

14.       The Bank may, with respect to questions of law, apply to and obtain the advice and opinion of counsel to the independent trustees of a Fund or counsel that is mutually agreed upon by a Fund and Bank and shall be entitled to rely on the advice or opinion of such counsel.

 

15.       The Bank shall be entitled to rely upon any oral instructions received by the Bank and reasonably believed by the Bank to be given by or on behalf of a Fund, even if the Bank subsequently receives written instructions contradicting such oral instructions. The books and records of the Bank with respect to the content of any oral instruction shall be binding and conclusive.

 

16.       Notwithstanding any other provision in this Agreement, the Bank shall have no duty or obligation with respect to, including without limitation, any duty or obligation to determine, or advise or notify a Fund of: (a) the taxable nature of any distribution or amount received or deemed received by, or payable to, a Fund; (b) the taxable nature or effect on a Fund or its shareholders of any corporate actions, class actions, tax reclaims, tax refunds, or similar events; (c) the taxable nature or taxable amount of any distribution or dividend paid, payable or deemed paid, by a Fund to its shareholders; or (d) the effect under any federal, state, or foreign income tax laws of a Fund making or not making any distribution or dividend payment, or any election with respect thereto.

 

17.       The Bank shall be held to a standard of reasonable care in carrying out the provisions of this Agreement except as otherwise provided in this Agreement. The Bank shall not be liable for any loss, damage or expense, including counsel fees and other costs and expenses of a defense against any claim or liability, resulting from, arising out of, or in connection with its performance hereunder, including its actions or omissions, the incompleteness or inaccuracy of any specifications or other information furnished by the Fund, or for any delays caused by circumstances beyond the Bank’s control, unless such loss, damage or expense arises out of the negligence or willful misconduct of the Bank. In no event shall the Bank be liable to the Funds or any third party for special, indirect, or consequential damages, or for lost profits or loss of business, arising under or in connection with this Agreement, even if previously informed of the possibility of such damages and regardless of the form of action.

 

18.       Without limiting the generality of the foregoing, the Fund shall indemnify the Bank against and save the Bank harmless from any loss, damage or expense, including counsel fees and other costs and expenses of a defense against any claim or liability, arising from any one or more of the following:

 

(a) Errors in records or instructions, explanations, information, specifications or documentation of any kind, as the case may be, supplied to the Bank by any third party described in preceding paragraph 9 hereof or by or on behalf of a Fund;

 

(b) Action or inaction taken or omitted to be taken by the Bank pursuant to written or oral instructions of the Fund or otherwise without negligence or willful misconduct;

 

(c) Any action taken or omitted to be taken by the Bank in good faith in accordance with the advice or opinion of counsel for the independent trustees of a Fund;

 

(d) Any improper use by a Fund or its agents, distributor or investment advisor of any valuations or computations supplied by the Bank pursuant to this Agreement;

 

(e) The method of valuation of the Securities, provided that such valuation is carried out in accordance with preceding paragraph 5 of this Agreement, and the method of computing each Fund’s net asset value; or

 

(f) Any valuations of Securities or net asset value provided by the Fund.

 

19.       In consideration for all of the services to be performed by the Bank as set forth herein the Bank shall be entitled to receive reimbursement for all out-of-pocket expenses and such compensation as may be agreed upon in writing from time to time between the Bank and the Fund.

 

20.        Attached hereto as Appendix B is a list of persons duly authorized to give any written or oral instructions, or written or oral specifications, by or on behalf of the Fund. From time to time the Fund may deliver a new Appendix B to add or delete any person and the Bank shall be entitled to rely on the last Appendix B actually received by the Bank.

 

21.       The Fund represents and warrants to the Bank that it has all requisite power to execute and deliver this Agreement, to give any written or oral instructions contemplated hereby, and to perform the actions or obligations contemplated to be performed by it hereunder, and has taken all necessary action to authorize such execution, delivery, and performance.

 

22.       The Bank represents and warrants to each Fund that:

 

(a) it has all requisite powers to execute and deliver this Agreement and to perform the actions or obligations contemplated to be performed by it hereunder, and has taken all necessary action to authorize such execution, delivery and performance;

 

(b) it is conducting its business in material compliance with all applicable laws and requirements, both state and federal, and has obtained all regulatory licenses, approvals and consents necessary to carry on its business as now conducted.

 

(c) In connection with the Funds’ obligations under Rule 38a-1 of the Investment Company Act of 1940, as amended (the “1940 Act”) the Bank agrees as follows:

 

(1) the Bank agrees to reasonably cooperate with the Funds and the Funds’ Chief Compliance Officer in the administration of the Funds’ compliance program (“Compliance Program”) as required by the Securities and Exchange Commission (“SEC”);

 

(2) the Bank has implemented and maintains policies and procedures reasonably designed to prevent, detect and promptly correct any violations of Federal Securities Laws with respect to services the Bank provides to the Funds (“Compliance Procedures”);

 

(3) the Bank will provide summaries of such Compliance Procedures that may affect in any material respect, the services provided hereunder by the Bank to the Funds;

 

(4) the Bank periodically reviews the adequacy of such Compliance Procedures and the effectiveness of their implementation and upon the request of a Fund, will provide the then current summaries of internal Compliance Procedures between such reviews;

 

(5) in the event that an officer or employee of the Bank administering this Agreement has actual knowledge of the occurrence of a “Material Compliance Matter” (as defined in Rule 38a-1(e)(2)) which the Bank reasonably believes is related to or will affect the Fund, the Bank will, if permitted by law and the Bank’s regulators, notify the Fund of such occurrence;

 

(6) except where prohibited by law, regulations or rule or as may be directed or instructed by the Bank’s regulators, the Bank agrees to notify the Funds following quarter-end of any inspections by, or other inquiries received from, the SEC or any other regulatory or law enforcement agency after the date of this certification, which relate to the services provided by the Bank to the Funds hereunder. For the avoidance of doubt, such notification obligation shall be satisfied if the notice is contained in any publicly available regulatory filing.

 

(d) The Bank will maintain throughout the term of this Agreement, such contingency plans as it reasonably believes to be necessary and appropriate to recover its operations from the occurrence of a disaster and which are consistent with any statute or regulations to which it is subject that imposes business resumption and contingency planning standards. The Bank agrees to provide the Funds with a summary of its contingency plan as it relates to the systems used to provide the services hereunder and to provide the Funds with periodic updates of such summary upon the Funds’ reasonable request.

 

(e)       The Bank shall perform the services listed in Appendix A hereto, as such Appendix A may be amended from time to time.

 

23.       This Agreement shall not be assignable by a Fund without the prior written consent of the Bank, or by the Bank without the prior written consent of each Fund.

 

24.       This Agreement shall become effective on the date first written above and shall remain in full force and effect for a period of four (4) years from the effective date of the Agreement (the “Initial Term”) and shall automatically continue in full force and effect after such Initial Term unless either party terminates this Agreement by written notice to the other party at least six (6) months prior to the expiration of the Initial Term. Additionally, if the Bank (or any of its affiliates) engages in (i) any act or omission which constitutes a breach of any representation, warranty, term, or obligation contained in this Agreement, which upon notice the Bank has not cured within 5 business days or (ii) any act or omission which constitutes negligence, reckless misconduct, willful malfeasance, or lack of good faith in fulfilling the terms and obligations of this Agreement, then each Fund shall have the right to immediately terminate this Agreement.

 

25.       Either party may terminate this Agreement at any time after the Initial Term upon at least ninety (90) days prior written notice to the other party. Upon the date set forth in such notice, the Bank shall deliver to the Fund all records then the property of the Fund and, upon such delivery, the Bank shall be relieved of all duties and responsibilities under the Agreement.

 

26.       This Agreement may not be amended or modified in any manner except by written agreement executed on behalf of both parties hereto.

 

27.        All laws and rules of construction of the State of New York (other than those relating to choice of laws) shall govern the rights, duties and obligations of the parties hereto. The Fund and the Bank hereby consent to the exclusive jurisdiction of a state or federal court situated in New York City, New York in connection with any dispute arising hereunder. The Fund hereby irrevocably waives, to the fullest extent permitted by applicable law, any objection which it may now or hereafter have to the laying of venue of any such proceeding brought in such a court and any claim that such proceeding brought in such a court has been brought in an inconvenient forum. The Fund and the Bank each hereby irrevocably waives any and all rights to trial by jury in any legal proceeding arising out of or relating to this Agreement.

 

28.       The performance and provisions of this Agreement are intended to benefit only the Bank and each Fund, and no rights shall be granted to any other person by virtue of this Agreement.

 

29.       The Bank hereby represents and warrants that it has implemented and shall maintain appropriate measures designed to satisfy the requirements of federal and New York law applicable to the Bank with respect to the confidentiality of the portfolio holdings and transactions of each Fund. Upon request, the Bank shall annually make available to each such Fund such summaries or audit reports, including any SAS 70 report, as the Bank generally makes available to its similar customers.

 

30.       The Bank is expressly put on notice of the limitation of liability as set forth in the Declaration of Trust of those registered investment companies which are business trusts and agrees that the obligations and liabilities assumed by a registered investment company or any Fund pursuant to this Agreement, including without limitation, any obligations or liability to indemnify the Bank, shall be limited in any case to the relevant Fund and its assets and that the Bank shall not seek satisfaction of any such obligation from the shareholders of the relevant Fund, from any other Fund nor its shareholders, from the Trustees, Officers, employees or agents of the registered investment company or Fund, or any of them. In addition, in connection with the discharge and satisfaction of any claim made by the Bank involving more than one Fund, the Trustees or Officers of such Funds shall have the exclusive right to determine the appropriate allocations of liability for any claim between or among the Funds.

 

31.       [          ]

 

 

 
 

 

Each of the registered investment companies or series thereof listed on Schedule I to this Agreement

 

By:_/s/ Richard A. Novak

Name: Richard A. Novak

Title: Treasurer

 

Attest:_not attested

 

THE BANK OF NEW YORK MELLON

 

By: /s Andrew Pfeifer

Name: Andrew Pfeifer

Title: Vice President

 

Attest:_not attested

 
 

APPENDIX A TO FUND ACCOUNTING AGREEMENT

BETWEEN

THE BANK OF NEW YORK MELLON

AND

THE FEDERATED FUNDS

 

I.       The Bank of New York Mellon (the “Bank”), as agent for The Federated Funds (the “Fund”), shall maintain the following records on a daily basis for each Fund.

1.       Report of priced portfolio securities

2.       Statement of net asset value per share

 

II.       The Bank shall maintain the following records on a monthly basis for each Fund:

1.       General Ledger

2.       General Journal

3.       Cash Receipts Journal

4.       Cash Disbursements Journal

5.       Subscriptions Journal

6.       Redemptions Journal

7.       Accounts Receivable Reports

8.       Accounts Payable Reports

9.       Open Subscriptions/Redemption Reports

10.       Transaction (Securities) Journal

11.       Broker Net Trades Reports

 

III.       The Bank shall prepare a Holdings Ledger on a quarterly basis, and a Buy-Sell Ledger (Broker’s Ledger) on a semiannual basis for each Fund

 

The above reports may be printed according to any other required frequency to meet the requirements of the Internal Revenue Service, the Securities and Exchange Commission and the Fund’s Auditors.

 

IV.       For internal control purposes, the Bank uses the Account Journals provided by The Bank of New York Mellon Custody System to record daily settlements of the following for each Fund:

1.       Securities bought

2.       Securities sold

3.       Interest received

4.       Dividends received

5.       Capital stock sold

6.       Capital stock redeemed

7.       Other income and expenses

 

All portfolio purchases for the Fund are recorded to reflect expected maturity value and total cost including any prepaid interest.

 

V.       The Bank shall monitor the triggers used to determine when the ITG fair value pricing procedures may be invoked, as further detailed in the SLA, and inform the appropriate Federated personnel that triggers had been met.

 

VI.       The Bank shall complete monthly preferred shares “asset coverage” test (as that term is defined in Section 18(h) of the Investment Company Act of 1940, as amended) following the compliance procedures contained in the SLA, as such SLA may be amended from time to time by mutual agreement of the parties (the “Compliance Procedures”).

 

VII.       The Bank shall complete monthly preferred shares basic maintenance amount test for Fitch Ratings, Ltd. (“Fitch”) following the Compliance Procedures.

 

VIII.       The Bank shall complete monthly preferred shares basic maintenance amount test for Moody’s Investors Service, Inc. (“Moody’s”) following the Compliance Procedures.

 
 

APPENDIX B

 

 

The Authorized Persons List, as amended from time to time, is hereby incorporated by reference.

 
 

CERTIFICATE OF AUTHORIZED PERSONS

[          ]

 

 

 

 
 

 

APPENDIX C

 

FAIR PRICING AUTHORIZATION MATRIX

 

 

[          ]

 

 
 

SCHEDULE I

 

(UPDATED AS OF 8/1/12)

 

 

A.       Money Market Funds

 

Federated Automated Government Cash Reserves

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated Municipal Trust

Federated U.S. Treasury Cash Reserves

 

B.       Muni Fixed Income Funds

 

Federated Intermediate Municipal Trust

Federated Michigan Intermediate Municipal Trust

Federated Municipal High Yield Advantage Fund

Federated Municipal Securities Fund, Inc.

Federated Municipal Ultrashort Fund

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Intermediate Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

C.       Other Funds

 

Federated Emerging Market Debt Fund

Federated Enhanced Treasury Income Fund

Federated Global Equity Fund

Federated InterContinental Fund

Federated International Bond Fund

Federated International Bond Strategy Portfolio

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated Prudent Absolute Return Fund (formerly, Federated Market Opportunity Fund)

Federated MDT Stock Trust

Federated Muni and Stock Advantage Fund

Federated Prudent DollarBear Fund

Federated Unconstrained Bond Fund

 

 

 
 

SCHEDULE II

 

Accounting, Administration and Custody Fee Schedule

Effective March 1, 2011

 

 

[          ]

 

 

 
 

SCHEDULE III

 

Security Pricing Fee Rate Card  
(per day per security)  
Vendor Asset Type Asset Group Daily Fee  
StatPro (FRI) Fixed FOREIGN BOND 0.80  
JP Morgan (Bear Stearns PricingDirect) Derivatives CR.DEFAULT SWAPS 4.00  
  INT.RATE. SWAPS 0.50  
  SWAPTION 1.00  
Fixed CMO 2.00  
  FHLMC 0.80  
  FNMA 0.80  
  FOREIGN BOND 0.80  
  INTEREST ONLY BOND 0.80  
  MORTGAGE RELATED 0.80  
  CORPORATE BOND 0.40  
  INFLATION INDEX 0.40  
  PRINCIPAL ONLY BOND 0.40  
  GNMA1 0.25  
  GNMA2 0.25  
  GOVERNMENT BOND 0.25  
  TREASURY BILL 0.25  
  TREASURY BOND 0.25  
  TREASURY NOTE 0.25  
IDC Derivatives FUTURE 0.15  
  OPTION 0.15  
  SWAPTIONS 0.10  
Equity FOREIGN STOCK 0.50  
  EQUITY(COMMON STOCK) 0.15  
  MUTUAL FUND 0.15  
  PREFERRED STOCK 0.15  
  RIGHT 0.15  
  WARRANTS 0.15  
Fixed FOREIGN BOND 1.11  
  MORTGAGE RELATED 0.89  
  CONVERTIBLE BOND 0.56  
  CORPORATE BOND 0.56  
  DEMAND NOTE 0.56  
  FHLMC 0.56  
  FNMA 0.56  
  GNMA1 0.56  
  GNMA2 0.56  
  GOVERNMENT BOND 0.56  
  INFLATION INDEX 0.56  
  INTEREST ONLY BOND 0.56  
  PRINCIPAL ONLY BOND 0.56  
  STEPPED BOND 0.56  
  TREASURY BILL 0.56  
  TREASURY BOND 0.56  
  TREASURY NOTE 0.56  
Money Market CERTIFICATE OF DEPOSIT 0.56  
  COMMERCIAL PAPER 0.56  
  MONEY MARKET 0.56  
JJ Kenny Money Market MONEY MARKET 0.28  
Muni MUNICIPAL BOND 0.60  
Markit Partners Derivatives Cr. Df. Swap In.Tranche 4.55  
  Swaption on CDS 3.48  
  Swaption on CDX 3.48  
  CMBX Index Swap 2.27  
  CDSwap Single Name ABS 2.27  
  ABX Index Swap 2.27  
  Volatility Swap 2.17  
  Interest Rate Swaption 1.52  
  Cr.Df.Swap Single Name 1.52  
  Cr. Default Swap Index 1.52  
  Swaption on IRS 1.45  
  Option 1.27  
  Index Option 1.27  
  Equity Option 1.27  
  Debt Option 1.27  
  Total Return Swap 1.14  
  FX / Currency Option 0.99  
  Zero Coupon IR Swap 0.99  
  Currency Swap 0.61  
  Interest Rate Swap 0.61  
Muller (IDC) Fixed CORPORATE BOND 0.56  
  DEMAND NOTE 0.56  
  FHLMC 0.56  
  FNMA 0.56  
  FOREIGN BOND 1.11  
  GOVERNMENT BOND 0.56  
  MORTGAGE RELATED 0.89  
  TREASURY BILL 0.56  
  TREASURY BOND 0.56  
  TREASURY NOTE 0.56  
Money Market CERTIFICATE OF DEPOSIT 0.56  
  COMMERCIAL PAPER 0.56  
  MONEY MARKET 0.56  
  TIME DEPOSITS 0.56  
Muni MUNICIPAL BOND 0.61  
Reuters Derivatives FUTURE/OPTIONS 0.10  
 
Equity EQUITY(COMMON STOCK) 0.08  
  FOREIGN STOCK 0.10  
  PREFERRED STOCK 0.08  
  WARRANTS 0.08  
Fixed CONVERTIBLE BOND 0.50  
  CORPORATE BOND 0.30  
  FHLMC 0.15  
  FNMA 0.15  
  FOREIGN BOND 0.40  
  GNMA1 0.30  
  GNMA2 0.30  
  GOVERNMENT BOND 0.15  
  INFLATION INDEX 0.10  
  MORTGAGE RELATED 0.50  
  TREASURY BILL 0.15  
  TREASURY BOND 0.15  
  TREASURY NOTE 0.15  
Money Market MONEY MARKET 0.08  

 

 
 

FIRST AMENDMENT TO

FUND ACCOUNTING AGREEMENT

THIS FIRST AMENDMENT TO FUND ACCOUNTING AGREEMENT (“Amendment”) is by and between each of the investment companies listed on Schedule I to the Agreement, as defined below (each, a “Fund”), and The Bank of New York Mellon (“Bank”).

 

W I T N E S S E T H:

 

WHEREAS, the Funds and Bank are parties to that certain Fund Accounting Agreement (the “Agreement”) dated March 1, 2011;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and Bank desire to amend the Agreement subject to the terms and conditions set forth herein; and

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.       Schedule I to the Agreement is hereby amended and updated to add the following Funds, effective March 25, 2011:

 

Muni Fixed Income Funds:

 

·Federated Municipal Ultrashort Fund, a portfolio of Federated Fixed Income Securities, Inc.
·Federated Premier Municipal Income Fund
·Federated Premier Intermediate Municipal Income Fund
·Federated Short-Intermediate Duration Municipal Trust

Other Funds:

·Federated Muni and Stock Advantage Fund, a portfolio of Federated Income Securities Trust
·Federated International Bond Fund, a portfolio of Federated International Series, Inc.
·Federated International Bond Strategy Portfolio, a portfolio of Federated Managed Pool Series
·Federated Emerging Market Debt Fund, a portfolio of Federated World Investment Series, Inc.
·Federated Prudent DollarBear Fund, a portfolio of Federated Income Securities Trust
·Federated InterContinental Fund, a portfolio of Federated Equity Funds
·Federated International Leaders Fund, a portfolio of Federated World Investment Series, Inc.
·Federated International Small-Mid Company Fund, a portfolio of Federated World Investment Series, Inc.
·Federated International Strategic Value Dividend Fund, a portfolio of Federated Equity Funds

 

2. The Agreement shall remain in full force and effect as amended by this Amendment.

 

[Remainder of Page Intentionally Left Blank]

 

 
 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of March 25, 2011.

 

On behalf of each of the Funds indicated on

Schedule I of the Fund Accounting Agreement,

as amended from time to time

 

By: /s/ Richard A. Novak

Name: Richard A. Novak

Title: Treasurer

 

 

THE BANK OF NEW YORK MELLON

 

By: /s/ Andrew Pfeifer

Title: Vice President

 
 

 

 

COMPLIANCE SUPPORT SERVICES ADDENDUM

TO

FUND ACCOUNTING AGREEMENT

 

 

This Compliance Support Services Addendum is effective as of May 31, 2012 by and between the investment companies listed on Exhibit 1 to this Addendum (each a “Fund” and collectively, the “Funds”) and THE BANK OF NEW YORK MELLON (“BNY Mellon”).

 

BACKGROUND:

 

A.The Funds and BNY Mellon are parties to a certain Fund Accounting Agreement dated March 1, 2011, as amended (the “Agreement”).

 

B.This Addendum is intended to supplement the Agreement with regard to additional services offered by BNY Mellon and shall be applicable solely to the Funds identified at Exhibit 1 hereto.

 

C.Each Fund hereby instructs BNY Mellon to provide the compliance support services (“Support Services”) described in this Addendum, and BNY Mellon acknowledges such instruction and is willing to provide such Support Services pursuant to the terms set forth herein.

 

D.This Background section is hereby incorporated by reference in and made a part of this Addendum.

 

TERMS:

 

In consideration of the premises and mutual covenants herein contained, the parties hereto agree as follows:

 

1.BNY Mellon shall provide, or cause its affiliates to provide, the Support Services, as they are described at Exhibit 2 hereto, subject to all applicable terms and conditions of the Agreement.

 

2.As compensation for providing the Support Services, the Funds shall pay BNY Mellon a fee or fees as may be agreed to from time to time in writing by the parties hereto.

 

Each Fund hereby represents and warrants to BNY Mellon that (i) the terms of this Addendum, (ii) the fees and expenses associated with this Addendum and (iii) any benefits accruing to BNY Mellon and/or any affiliate of such Fund relating to this Addendum have been fully disclosed to the Board of Trustees of the Fund and that, if required by applicable law, such Board of Trustees has approved or will approve the terms of this Addendum, any such fees and expenses, and any such fees and expenses, and any such benefits.

 

3.Notwithstanding any provision of this Addendum, the Support Services are not, nor shall they be construed as constituting, legal advice or the provision of legal services for or on behalf of a Fund or any other person. Neither this Addendum nor the provision of the Support Services establishes or is intended to establish an attorney-client relationship between BNY Mellon and a Fund or any other person.

 

4.While BNY Mellon, when providing certain of the Support Services, may identify out-of-compliance conditions, BNY Mellon does not, and could not for the fees charged, make any guarantees, representations or warranties with respect to its ability to identify any or all such conditions.

 

5.The parties hereto acknowledge that all work produced by BNY Mellon in providing the Support Services, and the performance of the Support Services in general, by BNY Mellon pursuant to this Addendum will be a the request and direction of each Fund and Fund’s chief compliance officer (“CCO”). BNY Mellon disclaims liability to the Fund, and the Fund is solely responsible, for the selection, qualifications and performance of the Fund’s CCO and the adequacy and effectiveness of the Fund’s compliance program.

 

6.BNY Mellon shall not be responsible for: (a) delays in the transmission to it by the Funds, the Funds’ adviser and entities unaffiliated with BNY Mellon (collectively, for this Addendum, “Third Parties”) of data required for the Support Services, (b) inaccuracies of, errors in or omissions of, such data provided to it by any Third Party, and (c) review of such data provided to it by any Third Party. This Section 6 is a limitation of responsibility provision for the benefit of BNY Mellon, and shall not be used to imply any responsibility or liability against BNY Mellon.

 

7.Miscellaneous.

 

(a)As hereby supplemented, the Agreement shall remain in full force and effect. In the event of a conflict between the terms of this Addendum and the terms of the Agreement, the terms of this Addendum shall control with respect to the Support Services.

 

(b)This Addendum may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. The facsimile signature of any party to the Addendum shall constitute the valid and binding execution hereof by such party.

 

(c)If any provision or provisions of this Addendum shall be held to be invalid, unlawful or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired.

 

 

(Signature page follows.)

 
 

IN WITNESS WHEREOF, the parties hereto have caused this Addendum to be executed by their duly authorized officers designated below on the date and year noted below.

 

 

 

On behalf of each of the Funds indicated on Exhibit 1,

as may be amended from time to time

 

 

By: /s/ Richard A. Novak

Name: Richard A. Novak

Title: Treasurer

 

 

THE BANK OF NEW YORK MELLON

 

 

By: /s/ Jay F. Nusblatt

Name: Jay F. Nusblatt

Title: Head of U.S. Fund Accounting and Authorized Signer

 

 

 

Effective Date: May 31, 2012

 
 

EXHIBIT 1

 

Fund/Portfolio Name

 

A.       Money Market Funds

 

Federated Automated Government Cash Reserves

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated Municipal Trust

Federated U.S. Treasury Cash Reserves

 

 

B.       Muni Fixed Income Funds

 

Federated Intermediate Municipal Trust

Federated Michigan Intermediate Municipal Trust

Federated Municipal High Yield Advantage Fund

Federated Municipal Securities Fund, Inc.

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Municipal Ultrashort Fund

Federated Premier Municipal Income Fund

Federated Premier Intermediate Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

 

C.       Other Funds

 

Federated Enhanced Treasury Income Fund

Federated Global Equity Fund

Federated Unconstrained Bond Fund

Federated Market Opportunity Fund

Federated MDT Stock Trust

Federated Muni and Stock Advantage Fund

Federated International Bond Fund

Federated International Bond Strategy Portfolio

Federated Emerging Market Debt Fund

Federated Prudent DollarBear Fund

Federated InterContinental Fund

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

 
 

EXHIBIT 2

 

Compliance Support Services

 

Description Frequency

1.       Provision of compliance policies and procedures for each applicable BNY Mellon line of business, summary and regulatory mapping of procedures

 

2.       Certification letter attesting BNY Mellon’s compliance with such policies and procedures.

 

3.       Host the Fund’s CCO at BNY Mellon’s operations location.

 

4.       CCO group meetings with Fund’s CCO and other CCOs on regulatory issues and industry best practices.

Annually, with interim updates on an as-needed basis.

 

 

 

Quarterly or annually at client’s request.

 

 

Annually.

 

 

Annually.

 

 
 

 

THE BANK OF NEW YORK MELLON

 

May 31, 2012

 

The Federated Family of Funds

 

 

Re: Compliance Support Services Fees

 

Dear Sir/Madam:

 

This letter constitutes our agreement with respect to compensation to be paid to The Bank of New York Mellon (“BNY Mellon”) under the terms of the Compliance Support Services Addendum dated on or about the date hereof (the “Addendum”) to the Fund Accounting Agreement dated March 1, 2011, as amended (the “Agreement”) between the investment companies listed on Exhibit 1 thereto (each a “Fund” and collectively, the “Funds”) and BNY Mellon for compliance support services provided to or on behalf of the Funds as set forth on Exhibit 2 to the Addendum. The fee for the compliance support services set forth on such Exhibit 2 to the Addendum shall be $5,000 per year for the fund accounting and financial reporting service line. This fee shall be allocated evenly among the Funds.

 

Such fees are in addition to, and in no way affect, other fees to which the parties hereto have agreed (or in the future agree) with respect to the Agreement or any amendment thereto.

 

All services provided pursuant to the Addendum are provided subject to reimbursement of BNY Mellon’s out-of-pocket expenses. Out-of-pocket expenses are assessed at cost and include, but are not limited to, independent compliance reviews, overnight express charges, travel costs, transmission expenses, and all other miscellaneous fees incurred on behalf of the Funds in connection with such services.

 

If the foregoing accurately sets forth our agreement regarding the fees for the services referred to herein and you intend to be legally bound hereby, please execute a copy of this letter and return it to BNY Mellon.

 

  Very truly yours,
   
  THE BANK OF NEW YORK MELLON
   
  By:  Jay F. Nusblatt
  Name:  Jay F. Nusblatt
  Title:  Head of U.S. Fund Accounting and
  Authorized Signer

Agreed and accepted:

 

On behalf of each of the Funds indicated on Exhibit 1 to the Addendum,
as may be amended from time to time.

 

 

By: /s/ Richard A. Novak

Name: Richard A. Novak

Title: Treasurer

 
 

 

Second amendment never completed.

 

 

THIRD AMENDMENT TO

FUND ACCOUNTING AGREEMENT

THIS AMENDMENT TO FUND ACCOUNTING AGREEMENT (“Amendment”) is by and between each of the investment companies listed on Schedule I to the Agreement, as defined below (each, a “Fund”), and The Bank of New York Mellon (“Bank”).

 

W I T N E S S E T H:

 

WHEREAS, the Funds and the Bank are parties to that certain Fund Accounting Agreement (the “Agreement”) dated June 7, 2005, amended March 25, 2011, December 31, 2012 and April 28, 2014, between the Funds listed on Schedule I of the Agreement, as amended and restated and attached hereto and the Bank;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Bank desire to amend the names of certain Funds to Schedule I, effective April 28, 2014; and

 

WHEREAS, the Funds and Bank are parties to that certain Fund Accounting Agreement (the

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

The Funds listed in Schedule I to the Agreement is amended and restated to include the funds listed on Schedule I attached hereto.

 

2. The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of April 28, 2014.

On behalf of each of the Funds indicated on
Schedule I of the Fund Accounting Agreement,
as amended from time to time
 
By:  /s/ Lori A. Hensler
Name:  Lori A. Hensler
Title:  Treasurer
 
 
THE BANK OF NEW YORK MELLON
 
 
By:  /s/ Armando Fernandez
Title:  Vice President/Managing Director
 
 

 

SCHEDULE I

(UPDATED AS OF 4/28/14)

A.       Money Market Funds

 

Federated Automated Government Cash Reserves

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated Municipal Trust

Federated U.S. Treasury Cash Reserves

 

B.       Muni Fixed Income Funds

 

Federated Intermediate Municipal Trust

Federated Michigan Intermediate Municipal Trust

Federated Municipal High Yield Advantage Fund

Federated Municipal Securities Fund, Inc.

Federated Municipal Ultrashort Fund

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Intermediate Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

C.       Other Funds

 

Federated Enhanced Treasury Income Fund

Federated Emerging Markets Debt Fund

Federated Emerging Markets Equity Fund (formerly, Federated Global Equity Fund)

Federated InterContinental Fund

Federated International Bond Fund

Federated International Bond Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated Absolute Return Fund

Federated MDT Stock Trust

Federated Muni and Stock Advantage Fund

Federated Prudent DollarBear Fund

Federated Unconstrained Bond Fund

 
 

 

FOURTH AMENDMENT TO

FUND ACCOUNTING AGREEMENT

THIS AMENDMENT TO FUND ACCOUNTING AGREEMENT (“Amendment”) is by and between each of the investment companies listed on Schedule I to the Agreement, as defined below (each, a “Fund”), and The Bank of New York Mellon (“Bank”).

 

W I T N E S S E T H:

 

WHEREAS, the Funds and the Bank are parties to that certain Fund Accounting Agreement (the “Agreement”) dated June 7, 2005, amended March 25, 2011, December 31, 2012, April 28, 2014, and December 1, 2014, between the Funds listed on Schedule I of the Agreement, as amended and restated and attached hereto and the Bank;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Bank desire to add certain funds to Schedule I; and

 

WHEREAS, the Funds and Bank are parties to that certain Fund Accounting Agreement (the

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

The Funds listed in Schedule I to the Agreement is amended and restated to include the funds listed on Schedule I attached hereto.

 

2. The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of December 1, 2014.

On behalf of each of the Funds indicated on
Schedule I of the Fund Accounting Agreement,
as amended from time to time
 
By:  /s/ Lori A. Hensler
Name:  Lori A. Hensler
Title:  Treasurer
 
 
THE BANK OF NEW YORK MELLON
 
 
By:   /s/ Armando Fernandez
Title:  Vice President/Managing Director
 
 

 

SCHEDULE I

(UPDATED AS OF 12/1/14)

A.       Money Market Funds

 

Federated Automated Government Cash Reserves

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated Municipal Trust

Federated U.S. Treasury Cash Reserves

 

B.       Muni Fixed Income Funds

 

Federated Intermediate Municipal Trust

Federated Michigan Intermediate Municipal Trust

Federated Municipal High Yield Advantage Fund

Federated Municipal Securities Fund, Inc.

Federated Municipal Ultrashort Fund

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Intermediate Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

C.       Other Funds

 

Federated Absolute Return Fund

Federated Emerging Markets Debt Fund

Federated Emerging Markets Equity Fund

Federated Enhanced Treasury Income Fund

Federated InterContinental Fund

Federated International Bond Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Stock Trust

Federated Muni and Stock Advantage Fund

Federated Prudent DollarBear Fund

Federated Unconstrained Bond Fund

 

 
 

 

FIFTH AMENDMENT TO

FUND ACCOUNTING AGREEMENT

THIS AMENDMENT TO FUND ACCOUNTING AGREEMENT (“Amendment”) is by and between each of the investment companies listed on Schedule I to the Agreement, as defined below (each, a “Fund”), and The Bank of New York Mellon (“Bank”).

 

W I T N E S S E T H:

 

WHEREAS, the Funds and the Bank are parties to that certain Fund Accounting Agreement (the “Agreement”) dated June 7, 2005, as amended, between the Funds listed on Schedule I of the Agreement, as amended and restated and attached hereto and the Bank;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Bank desire to add certain funds to Schedule I; and

 

WHEREAS, the Funds and Bank are parties to that certain Fund Accounting Agreement (the

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

The Funds listed in Schedule I to the Agreement is amended and restated to include the funds listed on Schedule I attached hereto.

 

2. The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of June 26, 2015.

On behalf of each of the Funds indicated on
Schedule I of the Fund Accounting Agreement,
as amended from time to time
 
By:   /s/ Lori A. Hensler
Name:  Lori A. Hensler
Title:  Treasurer
 
 
THE BANK OF NEW YORK MELLON
 
 
By:   /s/ Armando Fernandez
Title:  Vice President/Managing Director
 
 

 

SCHEDULE I

(UPDATED AS OF 6/25/15)

 

 

A.Money Market Funds

Federated Automated Government Cash

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated Municipal Trust

Federated U.S. Treasury Cash Reserves

 

B.       Muni Fixed Income Funds

 

Federated Intermediate Municipal Trust

Federated Michigan Intermediate Municipal Trust

Federated Municipal High Yield Advantage Fund

Federated Municipal Securities Fund, Inc.

Federated Municipal Ultrashort Fund

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Intermediate Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

C.       Other Funds

 

Federated Absolute Return Fund

Federated Emerging Markets Debt Fund

Federated Emerging Markets Equity Fund

Federated Enhanced Treasury Income Fund

Federated InterContinental Fund

Federated International Bond Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Stock Trust

Federated Muni and Stock Advantage Fund

Federated Prudent DollarBear Fund

 

 

 

 
 

 

 

SIXTH AMENDMENT TO

FUND ACCOUNTING AGREEMENT

THIS AMENDMENT TO FUND ACCOUNTING AGREEMENT (“Amendment”) is by and between each of the investment companies listed on Schedule I to the Agreement, as defined below (each, a “Fund”), and The Bank of New York Mellon (“Bank”).

 

W I T N E S S E T H:

 

WHEREAS, the Funds and the Bank are parties to that certain Fund Accounting Agreement (the “Agreement”) dated March 1, 2011, as amended, between the Funds listed on Schedule I of the Agreement, as amended and restated and attached hereto and the Bank;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Bank desire to amend the names to certain Funds and add certain Funds to Schedule I; and

 

WHEREAS, the Funds and Bank are parties to that certain Fund Accounting Agreement (the

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

The Funds listed in Schedule I to the Agreement is amended and restated to include the funds listed on Schedule I attached hereto.

 

The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of December 1, 2016.

 

 

On behalf of each of the Funds indicated on
Schedule I of the Fund Accounting Agreement,
as amended from time to time
 
By: _/s/ Lori A. Hensler
Name:  Lori A. Hensler
Title:  Treasurer
 
 
THE BANK OF NEW YORK MELLON
 
 
By: _/s/ Armando Fernandez_
Name: Armando Fernandez
Title:  Vice President/Managing Director
 
 

 

SCHEDULE I

(UPDATED AS OF 12/01/16)

 

 

A.Money Market Funds

Federated Automated Government Cash

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated Municipal Trust

Federated U.S. Treasury Cash Reserves

 

B.       Muni Fixed Income Funds

 

Federated Intermediate Municipal Trust

Federated Michigan Intermediate Municipal Trust

Federated Municipal High Yield Advantage Fund

Federated Municipal Securities Fund, Inc.

Federated Municipal Ultrashort Fund

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Intermediate Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

C.       Other Funds

 

Federated Absolute Return Fund

Federated Emerging Markets Debt Fund

Federated Emerging Markets Equity Fund

Federated Enhanced Treasury Income Fund

Federated InterContinental Fund

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund (formerly Federated International Bond Fund)

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Large Cap Value Fund (formerly Federated MDT Stock Trust)

Federated Muni and Stock Advantage Fund

Federated Prudent DollarBear Fund

 

 
 

 

SEVENTH AMENDMENT TO

FUND ACCOUNTING AGREEMENT

THIS AMENDMENT TO FUND ACCOUNTING AGREEMENT (“Amendment”) is by and between each of the investment companies listed on Schedule I to the Agreement, as defined below (each, a “Fund”), and The Bank of New York Mellon (“Bank”).

 

W I T N E S S E T H:

 

WHEREAS, the Funds and the Bank are parties to that certain Fund Accounting Agreement (the “Agreement”) dated March 1, 2011, as amended, between the Funds listed on Schedule I of the Agreement, as amended and restated and attached hereto and the Bank;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Bank desire to amend the names to certain Funds and delete certain Funds to Schedule I; and

 

WHEREAS, the Funds and Bank are parties to that certain Fund Accounting Agreement (the

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

The Funds listed in Schedule I to the Agreement is amended and restated to include the funds listed on Schedule I attached hereto.

 

The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of August 1, 2017.

 

 

On behalf of each of the Funds indicated on
Schedule I of the Fund Accounting Agreement,
as amended from time to time
 
By: _/s/ Lori A. Hensler
Name:  Lori A. Hensler
Title:  Treasurer
 
 
THE BANK OF NEW YORK MELLON
 
 
By: /a/ Armando Fernandez
Name: Armando Fernandez
Title:  Vice President/Managing Director

 

 
 

 

SCHEDULE I

(UPDATED AS OF 08/1/17)

 

 

B.Money Market Funds

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated Municipal Trust

Federated U.S. Treasury Cash Reserves

 

B.       Muni Fixed Income Funds

 

Federated Intermediate Municipal Trust

Federated Michigan Intermediate Municipal Trust

Federated Municipal High Yield Advantage Fund

Federated Municipal Bond Fund, Inc.

Federated Municipal Ultrashort Fund

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Intermediate Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

C.       Other Funds

 

Federated Absolute Return Fund

Federated Emerging Markets Debt Fund

Federated InterContinental Fund

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Large Cap Value Fund

Federated MDT Large Cap Value Fund *

Federated Muni and Stock Advantage Fund

Federated Prudent DollarBear Fund

 

 

*a portfolio of Federated MDT Equity Trust to be effective August 31, 2017.

 

 

 

 

 

 
 

 

 

EIGHTH AMENDMENT TO

FUND ACCOUNTING AGREEMENT

THIS AMENDMENT TO FUND ACCOUNTING AGREEMENT (“Amendment”) is by and between each of the investment companies listed on Schedule I to the Agreement, as defined below (each, a “Fund”), and The Bank of New York Mellon (“Bank”).

 

W I T N E S S E T H:

 

WHEREAS, the Funds and the Bank are parties to that certain Fund Accounting Agreement (the “Agreement”) dated March 1, 2011, as amended, between the Funds listed on Schedule I of the Agreement, as amended and restated and attached hereto and the Bank;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Bank desire to remove certain Funds from Schedule I; and

 

WHEREAS, the Funds and Bank are parties to that certain Fund Accounting Agreement (the

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

The Funds listed in Schedule I to the Agreement is amended and restated to include the funds listed on Schedule I attached hereto.

 

The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of October 1, 2017.

 

 

On behalf of each of the Funds indicated on
Schedule I of the Fund Accounting Agreement,
as amended from time to time
 
By: __/s/ Lori A. Hensler
Name:  Lori A. Hensler
Title:  Treasurer
 
 
THE BANK OF NEW YORK MELLON
 
 
By: /s/ Armando Fernandez
Name: Armando Fernandez
Title:   Vice President/Managing Director

 

 
 

 

 

SCHEDULE I

(UPDATED AS OF 10/1/17)

 

 

A.Money Market Funds

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated Municipal Trust

Federated U.S. Treasury Cash Reserves

 

B.       Muni Fixed Income Funds

 

Federated Intermediate Municipal Trust

Federated Michigan Intermediate Municipal Trust

Federated Municipal High Yield Advantage Fund

Federated Municipal Bond Fund, Inc.

Federated Municipal Ultrashort Fund

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Intermediate Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

C.       Other Funds

 

Federated Absolute Return Fund

Federated Emerging Markets Debt Fund

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Large Cap Value Fund

Federated MDT Large Cap Value Fund *

Federated Muni and Stock Advantage Fund

 

 

*a portfolio of Federated MDT Equity Trust which became effective August 31, 2017.

 

 

 

 

 
 

 

NINTH AMENDMENT TO

FUND ACCOUNTING AGREEMENT

THIS AMENDMENT TO FUND ACCOUNTING AGREEMENT (“Amendment”) is by and between each of the investment companies listed on Schedule I to the Agreement, as defined below (each, a “Fund”), and The Bank of New York Mellon (“Bank”).

 

W I T N E S S E T H:

 

WHEREAS, the Funds and the Bank are parties to that certain Fund Accounting Agreement (the “Agreement”) dated March 1, 2011, as amended, between the Funds listed on Schedule I of the Agreement, as amended and restated and attached hereto and the Bank;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Bank desire to remove certain Funds from Schedule I; and

 

WHEREAS, the Funds and Bank are parties to that certain Fund Accounting Agreement (the

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

The Funds listed in Schedule I to the Agreement is amended and restated to include the funds listed on Schedule I attached hereto.

 

The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of November 1, 2017.

 

 

On behalf of each of the Funds indicated on
Schedule I of the Fund Accounting Agreement,
as amended from time to time
 
By: /s/ Lori A. Hensler
Name:  Lori A. Hensler
Title: Treasurer
 
THE BANK OF NEW YORK MELLON
 
 
By: _/s/ Armando Fernandez___________________
Name: Armando Fernandez
Title:  Vice President/Managing Director

 

 
 

 

SCHEDULE I

(UPDATED AS OF 11/1/17)

 

 

A.Money Market Funds

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated U.S. Treasury Cash Reserves

 

B.       Muni Fixed Income Funds

 

Federated Intermediate Municipal Trust

Federated Michigan Intermediate Municipal Trust

Federated Municipal High Yield Advantage Fund

Federated Municipal Bond Fund, Inc.

Federated Municipal Ultrashort Fund

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Intermediate Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

C.       Other Funds

 

Federated Absolute Return Fund

Federated Emerging Markets Debt Fund

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Large Cap Value Fund

Federated MDT Large Cap Value Fund *

Federated Muni and Stock Advantage Fund

 

 

*a portfolio of Federated MDT Equity Trust which became effective August 31, 2017.

 

 

 

 

 

 

 
 

 

TENTH AMENDMENT TO

FUND ACCOUNTING AGREEMENT

THIS AMENDMENT TO FUND ACCOUNTING AGREEMENT (“Amendment”) is by and between each of the investment companies listed on Schedule I to the Agreement, as defined below (each, a “Fund”), and The Bank of New York Mellon (“Bank”).

 

W I T N E S S E T H:

 

WHEREAS, the Funds and the Bank are parties to that certain Fund Accounting Agreement (the “Agreement”) dated March 1, 2011, as amended, between the Funds listed on Schedule I of the Agreement, as amended and restated and attached hereto and the Bank;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Bank desire to remove certain Funds from Schedule I; and

 

WHEREAS, the Funds and Bank are parties to that certain Fund Accounting Agreement (the

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

The Funds listed in Schedule I to the Agreement is amended and restated to include the funds listed on Schedule I attached hereto.

 

The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of December 1, 2017.

 

 

On behalf of each of the Funds indicated on
Schedule I of the Fund Accounting Agreement,
as amended from time to time
 
By: /s/ Lori A. Hensler
Name:  Lori A. Hensler
Title: Treasurer
 
THE BANK OF NEW YORK MELLON
 
 
By: /s/ Armando Fernandez___________________
Name: Armando Fernandez
Title:  Vice President/Managing Director
 
 

 

SCHEDULE I

(UPDATED AS OF 12/1/17)

 

 

A.Money Market Funds

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated U.S. Treasury Cash Reserves

 

B.       Muni Fixed Income Funds

 

Federated Intermediate Municipal Trust

Federated Michigan Intermediate Municipal Trust

Federated Municipal High Yield Advantage Fund

Federated Municipal Bond Fund, Inc.

Federated Municipal Ultrashort Fund

Federated New York Municipal Income Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

C.       Other Funds

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Large Cap Value Fund

Federated MDT Large Cap Value Fund *

Federated Muni and Stock Advantage Fund

 

 

*a portfolio of Federated MDT Equity Trust which became effective August 31, 2017.

 

 
 

 

ELEVENTH AMENDMENT TO

FUND ACCOUNTING AGREEMENT

THIS AMENDMENT TO FUND ACCOUNTING AGREEMENT (“Amendment”) is by and between each of the investment companies listed on Schedule I to the Agreement, as defined below (each, a “Fund”), and The Bank of New York Mellon (“Bank”).

 

W I T N E S S E T H:

 

WHEREAS, the Funds and the Bank are parties to that certain Fund Accounting Agreement (the “Agreement”) dated March 1, 2011, as amended, between the Funds listed on Schedule I of the Agreement, as amended and restated and attached hereto and the Bank;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Bank desire to add certain Funds to and remove certain Funds from Schedule I; and

 

WHEREAS, the Funds and Bank are parties to that certain Fund Accounting Agreement (the

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

The Funds listed in Schedule I to the Agreement is amended and restated to include the funds listed on Schedule I attached hereto.

 

The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of September 1, 2018.

 

 

On behalf of each of the Funds indicated on
Schedule I of the Fund Accounting Agreement,
as amended from time to time
 
By:_/s/ Lori A. Hensler
Name:  Lori A. Hensler
Title: Treasurer
 
THE BANK OF NEW YORK MELLON
 
 
By: /s/ Armando Fernandez
Name: Armando Fernandez
Title:  Vice President/Managing Director
 
 

 

SCHEDULE I

(UPDATED AS OF 09/01/18)

 

 

A.Money Market Funds

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated U.S. Treasury Cash Reserves

 

B.       Muni Fixed Income Funds

 

Federated Intermediate Municipal Trust

Federated Michigan Intermediate Municipal Trust

Federated Municipal High Yield Advantage Fund

Federated Municipal Bond Fund, Inc.

Federated Municipal Ultrashort Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

C.       Other Funds

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated Hermes SDG Engagement Equity Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Large Cap Value Fund

Federated Muni and Stock Advantage Fund

 

 

 

 

 

 

 
 

TWELFTH AMENDMENT TO

FUND ACCOUNTING AGREEMENT

THIS AMENDMENT TO FUND ACCOUNTING AGREEMENT (“Amendment”) is by and between each of the investment companies listed on Schedule I to the Agreement, as defined below (each, a “Fund”), and The Bank of New York Mellon (“Bank”).

 

W I T N E S S E T H:

 

WHEREAS, the Funds and the Bank are parties to that certain Fund Accounting Agreement (the “Agreement”) dated March 1, 2011, as amended, between the Funds listed on Schedule I of the Agreement, as amended and restated and attached hereto and the Bank;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Bank desire to add certain Funds to Schedule I; and

 

WHEREAS, the Funds and Bank are parties to that certain Fund Accounting Agreement (the

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

The Funds listed in Schedule I to the Agreement is amended and restated to include the funds listed on Schedule I attached hereto.

 

The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of December 1, 2018.

 

 

On behalf of each of the Funds indicated on
Schedule I of the Fund Accounting Agreement,
as amended from time to time
 
By: /s/ Deborah M. Molini
Name:  Deborah M. Molini
Title: Assistant Treasurer
 
THE BANK OF NEW YORK MELLON
 
 
By:  /s/ Armando Fernandez
Name: Armando Fernandez
Title:  Vice President/Managing Director
 
 

 

 

SCHEDULE I

(UPDATED AS OF 12/01/18)

 

 

A.       Money Market Funds

 

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated U.S. Treasury Cash Reserves

 

B.       Muni Fixed Income Funds

 

Federated Intermediate Municipal Trust

Federated Michigan Intermediate Municipal Trust

Federated Municipal High Yield Advantage Fund

Federated Municipal Bond Fund, Inc.

Federated Municipal Ultrashort Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

C.       Other Funds

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated Hermes Absolute Credit Fund

Federated Hermes Global Equity Fund

Federated Hermes Global Small Cap Fund

Federated Hermes SDG Engagement Equity Fund

Federated Hermes Unconstrained Credit Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Large Cap Value Fund

Federated Muni and Stock Advantage Fund

 

 

 
 

 

THIRTEENTH AMENDMENT TO

FUND ACCOUNTING AGREEMENT

THIS AMENDMENT TO FUND ACCOUNTING AGREEMENT (“Amendment”) is by and between each of the investment companies listed on Schedule I to the Agreement, as defined below (each, a “Fund”), and The Bank of New York Mellon (“Bank”).

W I T N E S S E T H:

 

WHEREAS, the Funds and the Bank are parties to that certain Fund Accounting Agreement (the “Agreement”) dated March 1, 2011, as amended, between the Funds listed on Schedule I of the Agreement, as amended and restated and attached hereto and the Bank;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Bank desire to add certain Funds to Schedule I; and

 

WHEREAS, the Funds and Bank are parties to that certain Fund Accounting Agreement (the

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

The Funds listed in Schedule I to the Agreement is amended and restated to include the funds listed on Schedule I attached hereto.

 

The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of March 1, 2019

 

 

On behalf of each of the Funds indicated on
Schedule I of the Fund Accounting Agreement,
as amended from time to time
 
By: /s/ Deborah M. Molini
Name:  Deborah M. Molini
Title: Assistant Treasurer
 
THE BANK OF NEW YORK MELLON
 
 
By:  /s/ Armando Fernandez
Name: Armando Fernandez
Title:  Vice President/Managing Director

 

 
 

 

 

SCHEDULE I

(UPDATED AS OF 03/01/19)

 

 

A.       Money Market Funds

 

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated U.S. Treasury Cash Reserves

 

B.       Muni Fixed Income Funds

 

Federated Intermediate Municipal Trust

Federated Michigan Intermediate Municipal Trust

Federated Municipal High Yield Advantage Fund

Federated Municipal Bond Fund, Inc.

Federated Municipal Ultrashort Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

C.       Other Funds

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated Hermes Absolute Credit Fund

Federated Hermes Global Equity Fund

Federated Hermes Global Small Cap Fund

Federated Hermes International Equity Fund

Federated Hermes SDG Engagement Equity Fund

Federated Hermes Unconstrained Credit Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated MDT Large Cap Value Fund

Federated Muni and Stock Advantage Fund

 

 

 
 

 

FOURTEENTH AMENDMENT TO

FUND ACCOUNTING AGREEMENT

THIS AMENDMENT TO FUND ACCOUNTING AGREEMENT (“Amendment”) is by and between each of the investment companies listed on Schedule I to the Agreement, as defined below (each, a “Fund”), and The Bank of New York Mellon (“Bank”).

 

W I T N E S S E T H:

 

WHEREAS, the Funds and the Bank are parties to that certain Fund Accounting Agreement (the “Agreement”) dated March 1, 2011, as amended, between the Funds listed on Schedule I of the Agreement, as amended and restated and attached hereto and the Bank;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Bank desire to add certain Funds to Schedule I; and

 

WHEREAS, the Funds and Bank are parties to that certain Fund Accounting Agreement (the

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

The Funds listed in Schedule I to the Agreement is amended and restated to include the funds listed on Schedule I attached hereto.

 

The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of April 1, 2019

 

 

On behalf of each of the Funds indicated on
Schedule I of the Fund Accounting Agreement,
as amended from time to time
 
By: /s/ Deborah M. Molini
Name:  Deborah M. Molini
Title: Assistant Treasurer
 
THE BANK OF NEW YORK MELLON
 
By:  _/s/ Armando Fernandez
Name: Armando Fernandez
Title:  Vice President/Managing Director

 

 
 

 

SCHEDULE I

(UPDATED AS OF 04/01/19)

 

 

A.       Money Market Funds

 

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated U.S. Treasury Cash Reserves

 

B.       Muni Fixed Income Funds

 

Federated Intermediate Municipal Trust

Federated Michigan Intermediate Municipal Trust

Federated Municipal High Yield Advantage Fund

Federated Municipal Bond Fund, Inc.

Federated Municipal Ultrashort Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

C.       Other Funds

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated Hermes Absolute Credit Fund

Federated Hermes Global Equity Fund

Federated Hermes Global Small Cap Fund

Federated Hermes International Equity Fund

Federated Hermes SDG Engagement Equity Fund

Federated Hermes Unconstrained Credit Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated Max-Cap Index Fund

Federated MDT Large Cap Value Fund

Federated Mid-Cap Index Fund

Federated Muni and Stock Advantage Fund

Federated Strategic Value Dividend Fund

 

 
 

 

 

FIFTEENTH AMENDMENT TO

FUND ACCOUNTING AGREEMENT

THIS AMENDMENT TO FUND ACCOUNTING AGREEMENT (“Amendment”) is by and between each of the investment companies listed on Schedule I to the Agreement, as defined below (each, a “Fund”), and The Bank of New York Mellon (“Bank”).

 

W I T N E S S E T H:

 

WHEREAS, the Funds and the Bank are parties to that certain Fund Accounting Agreement (the “Agreement”) dated March 1, 2011, as amended, between the Funds listed on Schedule I of the Agreement, as amended and restated and attached hereto and the Bank;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Bank desire to add certain Funds to Schedule I; and

 

WHEREAS, the Funds and Bank are parties to that certain Fund Accounting Agreement (the

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

The Funds listed in Schedule I to the Agreement is amended and restated to include the funds listed on Schedule I attached hereto.

 

The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of June 1, 2019

 

 

On behalf of each of the Funds indicated on
Schedule I of the Fund Accounting Agreement,
as amended from time to time
 
By: /s/ Deborah Molini Kraus
Name:  Deborah Molini Kraus
Title: Assistant Treasurer
 
THE BANK OF NEW YORK MELLON
 
 
By: /s/ James Farrell  
Name: James Farrell
Title:  Vice-President
 
 

 

 

SCHEDULE I

(UPDATED AS OF 06/01/19)

 

 

A.       Money Market Funds

 

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated U.S. Treasury Cash Reserves

 

B.       Muni Fixed Income Funds

 

Federated Intermediate Municipal Trust

Federated Michigan Intermediate Municipal Trust

Federated Municipal High Yield Advantage Fund

Federated Municipal Bond Fund, Inc.

Federated Municipal Ultrashort Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

C.       Other Funds

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Emerging Markets Equity Fund

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated Hermes Absolute Credit Fund

Federated Hermes Global Equity Fund

Federated Hermes Global Small Cap Fund

Federated Hermes International Equity Fund

Federated Hermes SDG Engagement Equity Fund

Federated Hermes Unconstrained Credit Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Equity Fund

Federated International Growth Fund

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated Max-Cap Index Fund

Federated MDT Large Cap Value Fund

Federated Mid-Cap Index Fund

Federated Muni and Stock Advantage Fund

Federated Strategic Value Dividend Fund

 

 

 
 

SIXTEENTH AMENDMENT TO

FUND ACCOUNTING AGREEMENT

THIS AMENDMENT TO FUND ACCOUNTING AGREEMENT (“Amendment”) is by and between each of the investment companies listed on Schedule I to the Agreement, as defined below (each, a “Fund”), and The Bank of New York Mellon (“Bank”).

 

W I T N E S S E T H:

 

WHEREAS, the Funds and the Bank are parties to that certain Fund Accounting Agreement (the “Agreement”) dated March 1, 2011, as amended, between the Funds listed on Schedule I of the Agreement, as amended and restated and attached hereto and the Bank;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Bank desire to add certain Funds to Schedule I; and

 

WHEREAS, the Funds and Bank are parties to that certain Fund Accounting Agreement (the

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

The Funds listed in Schedule I to the Agreement is amended and restated to include the funds listed on Schedule I attached hereto.

 

The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of March 1, 2020.

 

 

On behalf of each of the Funds indicated on
Schedule I of the Fund Accounting Agreement,
as amended from time to time
 
By: /s/ Deborah Molini Kraus
Name:  Deborah Molini Kraus
Title: Assistant Treasurer
 
THE BANK OF NEW YORK MELLON
 
 
By: /s/ James Farrell_
Name: James Farrell
Title:  Vice-President

 

 
 

 

 

SCHEDULE I

(UPDATED AS OF 03/01/2020)

 

 

A.       Money Market Funds

 

Federated Capital Reserves Fund

Federated Government Obligations Tax-Managed Fund

Federated Government Reserves Fund

Federated U.S. Treasury Cash Reserves

 

B.       Muni Fixed Income Funds

 

Federated Intermediate Municipal Trust

Federated Michigan Intermediate Municipal Trust

Federated Municipal High Yield Advantage Fund

Federated Municipal Bond Fund, Inc.

Federated Municipal Ultrashort Fund

Federated Ohio Municipal Income Fund

Federated Pennsylvania Municipal Income Fund

Federated Premier Municipal Income Fund

Federated Short-Intermediate Duration Municipal Trust

 

C.       Other Funds

 

Federated Absolute Return Fund

Federated Emerging Market Debt Fund

Federated Emerging Markets Equity Fund

Federated Global Strategic Value Dividend Fund

Federated Global Total Return Bond Fund

Federated Hermes Absolute Credit Fund

Federated Hermes Global Equity Fund

Federated Hermes Global Small Cap Fund

Federated Hermes International Equity Fund

Federated Hermes SDG Engagement Equity Fund

Federated Hermes Unconstrained Credit Fund

Federated Hermes US SMID Fund

Federated International Bond Strategy Portfolio

Federated International Dividend Strategy Portfolio

Federated International Equity Fund

Federated International Growth Fund

Federated International Leaders Fund

Federated International Small-Mid Company Fund

Federated International Strategic Value Dividend Fund

Federated Max-Cap Index Fund

Federated MDT Large Cap Value Fund

Federated Mid-Cap Index Fund

Federated Muni and Stock Advantage Fund

Federated Strategic Value Dividend Fund

 
 

 

SEVENTEENTH AMENDMENT TO

FUND ACCOUNTING AGREEMENT

THIS AMENDMENT TO FUND ACCOUNTING AGREEMENT (“Amendment”) is by and between each of the investment companies listed on Schedule I to the Agreement, as defined below (each, a “Fund”), and The Bank of New York Mellon (“Bank”).

 

W I T N E S S E T H:

 

WHEREAS, the Funds and the Bank are parties to that certain Fund Accounting Agreement (the “Agreement”) dated March 1, 2011, as amended, between the Funds listed on Schedule I of the Agreement, as amended and restated and attached hereto and the Bank;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Bank desire to change the name to certain Funds and add Hermes to certain Funds to Schedule I; and

 

WHEREAS, the Funds and Bank are parties to that certain Fund Accounting Agreement (the

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

The Funds listed in Schedule I to the Agreement is amended and restated to include the funds listed on Schedule I attached hereto.

 

The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of June 29, 2020.

 

 

On behalf of each of the Funds indicated on
Schedule I of the Fund Accounting Agreement,
as amended from time to time
 
By: /s/ Lori A. Hensler
Name: Lori A. Hensler
Title:  Treasurer
 
THE BANK OF NEW YORK MELLON
 
 
By: /s/ James Farrell
Name: James Farrell
Title:  Vice-President

 

 

 

 

SCHEDULE I

(UPDATED AS OF 06/29/2020)

 

 

A.Money Market Funds

Federated Hermes Capital Reserves Fund

Federated Hermes Government Obligations Tax-Managed Fund

Federated Hermes Government Reserves Fund

Federated Hermes U.S. Treasury Cash Reserves

 

B.       Muni Fixed Income Funds

 

Federated Hermes Intermediate Municipal Fund

Federated Hermes Michigan Intermediate Municipal Fund

Federated Hermes Municipal High Yield Advantage Fund

Federated Hermes Municipal Bond Fund, Inc.

Federated Hermes Municipal Ultrashort Fund

Federated Hermes Ohio Municipal Income Fund

Federated Hermes Pennsylvania Municipal Income Fund

Federated Hermes Premier Municipal Income Fund

Federated Hermes Short-Intermediate Duration Municipal Fund

 

C.       Other Funds

 

Federated Hermes Emerging Market Debt Fund

Federated Hermes Emerging Markets Equity Fund

Federated Hermes Global Strategic Value Dividend Fund

Federated Hermes Global Total Return Bond Fund

Federated Hermes Absolute Return Credit Fund

Federated Hermes Global Equity Fund

Federated Hermes Global Small Cap Fund

Federated Hermes International Developed Equity Fund

Federated Hermes SDG Engagement Equity Fund

Federated Hermes SDG Engagement High Yield Credit Fund

Federated Hermes Unconstrained Credit Fund

Federated Hermes US SMID Fund

Federated Hermes International Bond Strategy Portfolio

Federated Hermes International Dividend Strategy Portfolio

Federated Hermes International Equity Fund

Federated Hermes International Growth Fund

Federated Hermes International Leaders Fund

Federated Hermes International Small-Mid Company Fund

Federated Hermes International Strategic Value Dividend Fund

Federated Hermes Max-Cap Index Fund

Federated Hermes MDT Large Cap Value Fund

Federated Hermes Mid-Cap Index Fund

Federated Hermes Muni and Stock Advantage Fund

Federated Hermes Strategic Value Dividend Fund

 

 
 

 

EIGHTEENTH AMENDMENT TO

FUND ACCOUNTING AGREEMENT

THIS AMENDMENT TO FUND ACCOUNTING AGREEMENT (“Amendment”) is by and between each of the investment companies listed on Schedule I to the Agreement, as defined below (each, a “Fund”), and The Bank of New York Mellon (“Bank”).

 

W I T N E S S E T H:

 

WHEREAS, the Funds and the Bank are parties to that certain Fund Accounting Agreement (the “Agreement”) dated March 1, 2011, as amended, between the Funds listed on Schedule I of the Agreement, as amended and restated and attached hereto and the Bank;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Bank desire to remove certain Funds from Schedule I; and

 

WHEREAS, the Funds and Bank are parties to that certain Fund Accounting Agreement (the

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

The Funds listed in Schedule I to the Agreement is amended and restated to include the funds listed on Schedule I attached hereto.

 

The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of December 1, 2020.

 

 

On behalf of each of the Funds indicated on
Schedule I of the Fund Accounting Agreement,
as amended from time to time
 
By: _________________________________
Name: Ronald J. Ecoff
Title:  Assistant Treasurer
 
THE BANK OF NEW YORK MELLON
 
 
By: __________________________________
Name: Kelly Carroll
Title:  Vice-President

 

 
 

 

SCHEDULE I

(UPDATED AS OF 12/1/2020)

 

A.Money Market Funds

 

Federated Hermes Capital Reserves Fund

Federated Hermes Government Obligations Tax-Managed Fund

Federated Hermes Government Reserves Fund

Federated Hermes U.S. Treasury Cash Reserves

 

B.       Muni Fixed Income Funds

 

Federated Hermes Intermediate Municipal Fund

Federated Hermes Michigan Intermediate Municipal Fund

Federated Hermes Municipal High Yield Advantage Fund

Federated Hermes Municipal Bond Fund, Inc.

Federated Hermes Municipal Ultrashort Fund

Federated Hermes Ohio Municipal Income Fund

Federated Hermes Pennsylvania Municipal Income Fund

Federated Hermes Premier Municipal Income Fund

Federated Hermes Short-Intermediate Duration Municipal Fund

 

C.       Other Funds

 

Federated Hermes Emerging Market Debt Fund

Federated Hermes Emerging Markets Equity Fund

**Federated Hermes Global Strategic Value Dividend Fund

Federated Hermes Global Total Return Bond Fund

Federated Hermes Absolute Return Credit Fund

Federated Hermes Global Equity Fund

Federated Hermes Global Small Cap Fund

Federated Hermes International Developed Equity Fund

Federated Hermes SDG Engagement Equity Fund

Federated Hermes SDG Engagement High Yield Credit Fund

Federated Hermes Unconstrained Credit Fund

Federated Hermes US SMID Fund

Federated Hermes International Bond Strategy Portfolio

Federated Hermes International Dividend Strategy Portfolio

Federated Hermes International Equity Fund

Federated Hermes International Growth Fund

Federated Hermes International Leaders Fund

Federated Hermes International Small-Mid Company Fund

Federated Hermes International Strategic Value Dividend Fund

Federated Hermes Max-Cap Index Fund

Federated Hermes MDT Large Cap Value Fund

Federated Hermes Mid-Cap Index Fund

Federated Hermes Muni and Stock Advantage Fund

Federated Hermes Strategic Value Dividend Fund

 

 

**Will liquidate on January 22, 2021

 
 

 

NINETEENTH AMENDMENT TO

FUND ACCOUNTING AGREEMENT

THIS AMENDMENT TO FUND ACCOUNTING AGREEMENT (“Amendment”) is by and between each of the investment companies listed on Schedule I to the Agreement, as defined below (each, a “Fund”), and The Bank of New York Mellon (“Bank”).

 

W I T N E S S E T H:

 

WHEREAS, the Funds and the Bank are parties to that certain Fund Accounting Agreement (the “Agreement”) dated March 1, 2011, as amended, between the Funds listed on Schedule I of the Agreement, as amended and restated and attached hereto and the Bank;

 

WHEREAS, each Fund is registered as a management investment company under the Investment Company Act of 1940, as amended;

 

WHEREAS, the Funds and the Bank desire to remove certain Funds from Schedule I; and

 

WHEREAS, the Funds and Bank are parties to that certain Fund Accounting Agreement (the

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

The Funds listed in Schedule I to the Agreement is amended and restated to include the funds listed on Schedule I attached hereto.

 

The Agreement shall remain in full force and effect as amended by this Amendment.

 

IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of June 1, 2021.

 

 

On behalf of each of the Funds indicated on

Schedule I of the Fund Accounting Agreement,

as amended from time to time

 

By: ______________________________

Name: Ronald J. Ecoff

Title: Assistant Treasurer

 

THE BANK OF NEW YORK MELLON

 

 

By: _______________________________

Name: Kelly Carroll

Title: Vice-President

 

 
 

 

 

SCHEDULE I

(UPDATED AS OF JUNE 1, 2021)

 

 

B.Money Market Funds

Federated Hermes Capital Reserves Fund

Federated Hermes Government Obligations Tax-Managed Fund

Federated Hermes Government Reserves Fund

Federated Hermes U.S. Treasury Cash Reserves

 

B.       Muni Fixed Income Funds

 

Federated Hermes Intermediate Municipal Fund

Federated Hermes Michigan Intermediate Municipal Fund

Federated Hermes Municipal High Yield Advantage Fund

Federated Hermes Municipal Bond Fund, Inc.

Federated Hermes Municipal Ultrashort Fund

Federated Hermes Ohio Municipal Income Fund

Federated Hermes Pennsylvania Municipal Income Fund

Federated Hermes Premier Municipal Income Fund

Federated Hermes Short-Intermediate Duration Municipal Fund

 

C.       Other Funds

 

Federated Hermes Emerging Market Debt Fund

Federated Hermes Emerging Markets Equity Fund

Federated Hermes Global Total Return Bond Fund

Federated Hermes Absolute Return Credit Fund

Federated Hermes Global Equity Fund

Federated Hermes Global Small Cap Fund

Federated Hermes International Developed Equity Fund

Federated Hermes SDG Engagement Equity Fund

Federated Hermes SDG Engagement High Yield Credit Fund

Federated Hermes Unconstrained Credit Fund

Federated Hermes US SMID Fund

Federated Hermes International Bond Strategy Portfolio

Federated Hermes International Dividend Strategy Portfolio

Federated Hermes International Equity Fund

Federated Hermes International Growth Fund

Federated Hermes International Leaders Fund

Federated Hermes International Small-Mid Company Fund

Federated Hermes International Strategic Value Dividend Fund

Federated Hermes Max-Cap Index Fund

Federated Hermes MDT Large Cap Value Fund

Federated Hermes Mid-Cap Index Fund

Federated Hermes Muni and Stock Advantage Fund

Federated Hermes Strategic Value Dividend Fund

EXECUTION

INVESTMENT COMPANY REPORTING

MODERNIZATION SERVICES AMENDMENT TO

FUND ACCOUNTING AGREEMENT

 

 

This Investment Company Reporting Modernization Services Amendment (the “Amendment”) is made as of March 1, 2018 by and between each of the registered investment companies listed on Schedule I to the Agreement (as defined below) as such Schedule I may be amended from time to time (each registered investment company, the “Fund”) and THE BANK OF NEW YORK MELLON (“BNY Mellon”).

 

BACKGROUND:

 

A.WHEREAS, the Fund and BNY Mellon are parties to a Fund Accounting Agreement dated as of March 1, 2011, as amended (the “Agreement”);

 

B.WHEREAS, this Amendment is an amendment to the Agreement and shall be applicable solely to the portfolios of the Fund identified at Exhibit 1 hereto (the “Portfolios”);

 

C.WHEREAS, the Fund desires that BNY Mellon provide the investment company reporting modernization services described in this Amendment;

 

D.WHEREAS, capitalized terms used in this Amendment shall have the meanings set forth in the Agreement unless otherwise defined herein, and all forms and rules referenced herein are in reference to forms and rules promulgated under the Investment Company Act of 1940, as amended; and

 

E.WHEREAS, the Fund and BNY Mellon desire to amend the Agreement with respect to the foregoing;

 

TERMS:

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, the parties hereto agree as follows:

 

1.BNY Mellon shall provide the following services to the Fund for the Portfolios and the Agreement is hereby amended to include the following with the services described therein:

 

1.1As selected by the Fund, BNY Mellon shall provide services following a shared service operating model. This operating model requires the Fund or adviser to file the reports described in the services noted below.

 

1.2FORM N-PORT. BNY Mellon, subject to the limitations described herein and its timely receipt of all necessary information related thereto, will collect, aggregate and normalize the data required for the submission of Form N-PORT, related filing types, and any forms adopted to replace such forms. BNY Mellon will review and transmit to the Funds’ third party filing agent each draft N-PORT and provide reasonable cooperation to the relevant Fund and/or such Fund’s third party agent as necessary to resolve any issues with the receipt of the Form N-PORT data provided.

 

1.2.1The timely receipt of necessary information referred to above will be determined by mutual agreement of BNY Mellon and the Fund in advance of the preparation of the initial Form N-PORT.

 

1.3FORM N-CEN. BNY Mellon, subject to the limitations described herein and its timely receipt of all necessary information related thereto, will collect, aggregate and normalize the data required for the submission of Form N-CEN, related filing types, and any forms adopted to replace such forms. BNY Mellon will review and transmit to the Funds’ third party filing agent each draft N-CEN and provide reasonable cooperation to the relevant Fund and/or such Fund’s third party agent as necessary to resolve any issues with the receipt of the Form N-CEN data provided.

 

1.3.1The timely receipt of necessary information referred to above will be determined by mutual agreement of BNY Mellon and the Fund in advance of the preparation of the initial Form N-CEN.

 

2.BNY Mellon shall not be responsible for: (a) delays in the transmission to it by the Fund, the Fund’s adviser and entities unaffiliated with BNY Mellon (collectively, for this Amendment, “Third Parties”) of data required for the reports described herein, (b) inaccuracies of, errors in or omissions of, such data provided to it by any Third Party, and (c) validation of such data provided to it by any Third Party. This Section 2 is a limitation of responsibility provision for the benefit of BNY Mellon, and shall not be used to imply any responsibility or liability against BNY Mellon.

 

3.The Fund shall be responsible for the retention of the filed reports described herein in accordance with any applicable rule or regulation.

 

4.Notwithstanding any provision of this Amendment, the services described herein are not, nor shall they be construed as constituting, legal advice or the provision of legal services for or on behalf of the Fund or any other person. Neither this Amendment nor the provision of the services establishes or is intended to establish an attorney-client relationship between BNY Mellon and the Fund or any other person.

 

5.As compensation for the services described herein, the Fund will pay to BNY Mellon such fees as may be agreed to in writing by the Fund and BNY Mellon.
 
 
6.Miscellaneous.

 

(a)As hereby amended and supplemented, the Agreement shall remain in full force and effect. In the event of a conflict between the terms of this Amendment and the terms of the Agreement, the terms of this Amendment shall control with respect to the services described herein.

 

(b)This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. The facsimile signature of any party to this Amendment shall constitute the valid and binding execution hereof by such party.

 

(c)If any provision or provisions of this Amendment shall be held to be invalid, unlawful or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired.

 

 

 

(Signature page follows.)

 
 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized officers designated below on the date and year first above written.

 

 

 

EACH OF THE REGISTERED INVESTMENT

COMPANIES LISTED ON EXHIBIT I

 

 

By: /s/ Lori A. Hensler

Name: Lori A. Hensler

Title: Treasurer

 

 

II.    THE BANK OF NEW YORK MELLON

 

 

By: /s/Armando Fernandez

Name: Armando Fernandez

Title: Vice President

 

Date: March 2, 2018

 

 
 

 

 

EXHIBIT 1

 

N-PORT Services

 

Portfolio Name ID, Cusip or Ticker Symbol
Federated Hermes Emerging Market Debt Fund 31428U771
Federated Hermes Emerging Market Debt Fund 31428U763
Federated Hermes Emerging Market Debt Fund 31428U755
Federated Hermes Emerging Market Debt Fund 31428U615
Federated Hermes Intermediate Municipal Fund 458810108
Federated Hermes Intermediate Municipal Fund   458810603
Federated Hermes Global Strategic Value Dividend Fund 31421N865
Federated Hermes Global Strategic Value Dividend Fund 31421N857
Federated Hermes Global Strategic Value Dividend Fund 31421N840
Federated Hermes Global Strategic Value Dividend Fund 31421N832
Federated  Hermes Global Total Return Bond Fund 31420G408
Federated Hermes Global Total Return Bond Fund 31420G507
Federated Hermes Global Total Return Bond Fund 31420G606
Federated Hermes Global Total Return Bond Fund 31420G879
Federated Hermes International Bond Strategy Portfolio 31421P308
Federated Hermes International Dividend Strategy Portfolio 31421P605
Federated Hermes International Leaders Fund 31428U847
Federated Hermes International Leaders Fund 31428U839
Federated Hermes International Leaders Fund 31428U821
Federated Hermes International Leaders Fund 31428U623
Federated Hermes International Leaders Fund 31428U599
Federated Hermes International Leaders Fund 31428U581
Federated Hermes International Small-Mid Company Fund 31428U748
Federated Hermes International Small-Mid Company Fund 31428U730
Federated Hermes International Small-Mid Company Fund 31428U722
Federated Hermes International Small-Mid Company Fund 31428U631
Federated Hermes  International Strategic Value Dividend Fund 314172388
Federated Hermes International Strategic Value Dividend Fund 314172370
Federated Hermes International Strategic Value Dividend Fund 314172362
Federated Hermes International Strategic Value Dividend Fund 31421N824
Federated Hermes Michigan Intermediate Municipal Fund 313923302
Federated Hermes Muni and Stock Advantage Fund 31420C837
Federated Hermes Muni and Stock Advantage Fund 31420C829
Federated Hermes Muni and Stock Advantage Fund 31420C811
Federated Hermes Muni and Stock Advantage Fund 31420C720
Federated Hermes Muni and Stock Advantage Fund 31420C654
Federated Hermes  Municipal High Yield Advantage Fund 313923864
Federated Hermes Municipal High Yield Advantage Fund 313923856
Federated Hermes Municipal High Yield Advantage Fund 313923849
Federated Hermes Municipal High Yield Advantage Fund 313923831
Federated Hermes Municipal High Yield Advantage Fund 313923815
Federated Hermes Municipal Bond Fund, Inc. 313913105
Federated Hermes Municipal Bond Fund, Inc. 313913204
Federated Hermes Municipal Bond Fund, Inc. 313913303
Federated Hermes Municipal Bond Fund, Inc. 313913402
Federated Hermes Municipal Bond Fund, Inc. 313913600
Federated Hermes Municipal Ultrashort Fund 31417P866
Federated Hermes Municipal Ultrashort Fund 31417P858
Federated Hermes Ohio Municipal Income Fund 313923823
Federated Hermes Ohio Municipal Income Fund 313923609
Federated Hermes Pennsylvania Municipal Income Fund 313923708
Federated Hermes Pennsylvania Municipal Income Fund 313923807
Federated Hermes Premier Municipal Income Fund 31423P108
Federated Hermes Short-Intermediate Municipal Fund 313907305
Federated Hermes Short-Intermediate Municipal Fund 313907107
Federated Hermes Short-Intermediate Municipal Fund 313907206

 

 
 

N-CEN Services

 

Portfolio Name ID, Cusip or Ticker Symbol and Fund
Federated  Hermes Emerging Market Debt Fund 31428U771
Federated Hermes Emerging Market Debt Fund 31428U763
Federated Hermes Emerging Market Debt Fund 31428U755
Federated Hermes Emerging Market Debt Fund 31428U615
Federated Hermes Government Obligations Tax-Managed Fund 60934N856
Federated Hermes Government Obligations Tax-Managed Fund 60934N849
Federated Hermes Government Obligations Tax-Managed Fund 608919494
Federated Hermes Government Reserves Fund 608919205
Federated Hermes Government Reserves Fund 608919544
Federated Hermes Government Reserves Fund 608919536
Federated Hermes Government Reserves Fund 608919528
Federated Hermes Government Reserves Fund 908919510
Federated Hermes Intermediate Municipal Fund 458810108
Federated Hermes Intermediate Municipal Fund 458810603
Federated Hermes Global Strategic Value Dividend Fund 31421N865
Federated Hermes Global Strategic Value Dividend Fund 31421N857
Federated Hermes Global Strategic Value Dividend Fund 31421N840
Federated Hermes Global Strategic Value Dividend Fund 31421N832
Federated Hermes Global Total Return Bond Fund 31420G408
Federated Hermes Global Total Return Bond Fund 31420G507
Federated Hermes Global Total Return Bond Fund 31420G606
Federated Hermes Global Total Return Bond Fund 31420G879
Federated Hermes International Bond Strategy Portfolio 31421P308
Federated Hermes International Dividend Strategy Portfolio 31421P605
Federated Hermes International Leaders Fund 31428U847
Federated Hermes International Leaders Fund 31428U839
Federated Hermes International Leaders Fund 31428U821
Federated Hermes International Leaders Fund 31428U623
Federated Hermes International Leaders Fund 31428U599
Federated Hermes International Leaders Fund 31428U581
Federated Hermes International Small-Mid Company Fund 31428U748
Federated Hermes International Small-Mid Company Fund 31428U730
Federated Hermes International Small-Mid Company Fund 31428U722
Federated Hermes International Small-Mid Company Fund 31428U631
Federated Hermes International Strategic Value Dividend Fund 314172388
Federated  Hermes International Strategic Value Dividend Fund 314172370
Federated Hermes International Strategic Value Dividend Fund 314172362
Federated Hermes International Strategic Value Dividend Fund 31421N824
Federated Hermes Michigan Intermediate Municipal Fund 313923302
Federated Hermes Muni and Stock Advantage Fund 31420C837
Federated Hermes Muni and Stock Advantage Fund 31420C829
Federated Hermes Muni and Stock Advantage Fund 31420C811
Federated Hermes Muni and Stock Advantage Fund 31420C720
Federated Hermes Muni and Stock Advantage Fund 31420C654
Federated Hermes Municipal High Yield Advantage Fund 313923864
Federated Hermes Municipal High Yield Advantage Fund 313923856
Federated Hermes Municipal High Yield Advantage Fund 313923849
Federated Hermes Municipal High Yield Advantage Fund 313923831
Federated Hermes Municipal High Yield Advantage Fund 313923815
Federated Hermes Municipal Bond Fund, Inc. 313913105
Federated Hermes Municipal Bond Fund, Inc. 313913204
Federated Hermes Municipal Bond Fund, Inc. 313913303
Federated Hermes Municipal Bond Fund, Inc. 313913402
Federated Hermes Municipal Bond Fund, Inc. 313913600
Federated Hermes Municipal Ultrashort Fund 31417P866
Federated Hermes Municipal Ultrashort Fund 31417P858
Federated Hermes Ohio Municipal Income Fund 313923823
Federated Hermes Ohio Municipal Income Fund 313923609
Federated Hermes Pennsylvania Municipal Income Fund 313923708
Federated Hermes Pennsylvania Municipal Income Fund 313923807
Federated Hermes Premier Municipal Income Fund  31423P108
Federated Hermes Short-Intermediate Municipal Trust 313907305
Federated Hermes Short-Intermediate Municipal Fund 313907107
Federated Hermes Short-Intermediate Municipal Fund 313907206
Federated Hermes U.S. Treasury Cash Reserves 60934N682
Federated Hermes U.S. Treasury Cash Reserves 60934N674

 

 
 

 

 

 

[          ]

 

 

Exhibit 28 (n) under Form N-1A

Exhibit 1 under item 601/Reg. S-K

 

MULTIPLE CLASS PLAN

 

Current as of June 1, 2021

 

 

This Multiple Class Plan (this "Plan") is adopted by the investment companies (the "Multiple Class Companies") identified in exhibits hereto (the "Class Exhibits") as offering separate classes of shares ("Classes").

 

1.       Purpose

 

This Plan is adopted pursuant to Rule 18f-3 under the Investment Company Act of 1940, as amended (the "Rule"), in connection with the issuance by the Multiple Class Companies and any series thereof (collectively the "Funds") of more than one Class of shares in reliance on the Rule. In documenting the exchange features for each Class, this plan describes the arrangements whereby shares of Funds may be exchanged for or from certain other investment companies which are not part of this Plan. In documenting the separate arrangement for distribution of each Class, this Plan also sets forth the schedules for variations in sales loads and contingent deferred sales charges required by Rules 22d-1 and 6c-10, respectively. Financial intermediary-specific front-end sales load and contingent deferred sales charge (“CDSC”) waivers, front-end sales load discounts and exchange features (collectively, “sales charge variations”) required to be disclosed by Rule 22d-1 shall be as set forth in the prospectus of a Fund, as may be amended from time to time.

 

2.       Separate Arrangements/Class Differences

 

The arrangements for shareholders services or the distribution of shares, or both, for each Class shall be set forth in the applicable Class Exhibit hereto.

 

3.       Expense Allocations

 

Each Class shall be allocated those shareholder service fees and fees and expenses payable under a Rule 12b-1 Plan specified in the Class Exhibit. In addition the following expenses may be specifically allocated to each Class to the extent that the Fund's officers determine that such expenses are actually incurred in a different amount by that Class, or that the Class receives services of a different kind or to a different degree than other Classes:

 

(a)       transfer agent fees;

 

(b)printing and postage expenses related to preparing and distributing materials such as shareholder reports, prospectuses, and proxies to current shareholders;

 

(c)blue sky registration fees;

 

(d)SEC registration fees;

 

(e)the expense of administrative personnel and services as required to support the shareholders;

 

(f)litigation or other legal expenses relating solely to one Class; or

 

(g)other expenses incurred on behalf of the Class or for events or activities pertaining exclusively to the Class.

 

4.       Conversion and Exchange Features

 

The conversion and exchange features for shares of each Class shall be as set forth in the applicable Class Exhibit hereto.

 

5.       Amendment

 

Any material amendment of this Plan or any Class Exhibit hereto by any Multiple Class Company is subject to the approval of a majority of the directors/trustees of the applicable Multiple Class Company and a majority of the directors/trustees of the Multiple Class Company who are not interested persons of the Multiple Class Company, pursuant to the Rule.

 

 
 

 

Class A Shares Exhibit

To

Multiple Class Plan

(Revised 6/1/21)

 

1.       SEPARATE ARRANGEMENT AND EXPENSE ALLOCATION

 

For purposes of Rule 18f-3 under the Act, the basic distribution and shareholder servicing arrangement of the Class A Shares will consist of sales and shareholder servicing by financial intermediaries in consideration of the payment of a portion of the applicable sales load (“dealer reallowance”)and a shareholder service fee. When indicated on the Schedule to this Exhibit, the principal underwriter and financial intermediaries may also receive payments for distribution and/or administrative services under a 12b-1 Plan. In connection with this basic arrangement, Class A Shares will bear the following fees and expenses:

 

Fees and Expenses Maximum Amount Allocated Class A Shares
Sales Load Up to 5.5% of the public offering price, as set forth in the attached Schedules
Contingent Deferred Sales Charge ("CDSC") 0.00%
Shareholder Service Fee Up to 25 basis points (0.25%) of the average daily net asset value
12b-1 Fee As set forth in the attached Schedule
Redemption Fee As set forth in the attached Schedule
Other Expenses Itemized expenses incurred by the Fund with respect to holders of Class A Shares as described in Section 3 of the Plan

 

2.       CONVERSION AND EXCHANGE PRIVILEGES

 

For purposes of Rule 18f-3, Class A Shares have the following conversion rights and exchange privileges at the election of the shareholder:

 

Conversion Rights: At the election of the shareholder, Class A Shares that are not subject to a contingent deferred sales charge (“CDSC”) based upon the redemption of a “Large Ticket” purchase made within 24 months may be converted to any other Share Class within the same Fund, provided that shareholder meets the eligibility requirements for the Share Class into which the conversion is sought, as applicable.
Exchange Privilege: Class A Shares may be exchanged for Class A Shares of any other Fund  

 

In any exchange, the shareholder shall receive shares having the same aggregate net asset value as the shares surrendered. Exchanges to any other Class shall be treated in the same manner as a redemption and purchase.

 

 
 

3.       EXCEPTIONS TO BASIC ARRANGEMENTS

 

For purposes of Rules 22d-1 and 6c-10 under the Act, unless otherwise specified on the Schedule to this Exhibit, the scheduled variations in sales loads and contingent deferred sales charges are as follows:

 

(A)       BASIC SALES LOAD SCHEDULE

 

The basic schedule of sales loads for Class A Shares of Funds so designated on the Schedule to this Exhibit is as follows:

 

Purchase Amount

Sales Load as a Percentage of

Public Offering Price

Less than $50,000 5.50%
$50,000 but less than $100,000 4.50%
$100,000 but less than $250,000 3.75%
$250,000 but less than $500,000 2.50%
$500,000 but less than $1 million 2.00%
$1 million or greater 0.00%

 

(B)       FIXED INCOME SALES LOAD SCHEDULE

 

The schedule of sales loads for Class A Shares of Funds so designated on the Schedule to this Exhibit is as follows:

 

Purchase Amount

Sales Charge as a Percentage of

Public Offering Price

Less than $100,000 4.50%
$100,000 but less than $250,000 3.75%
$250,000 but less than $500,000 2.50%
$500,000 but less than $1 million 2.00%
$1 million or greater 0.00%

 

(C)       MODIFIED FIXED INCOME SALES LOAD SCHEDULE

 

The schedule of sales loads for Class A Shares of Funds so designated on the Schedule to this Exhibit is as follows:

 

Purchase Amount

Sales Charge as a Percentage of

Public Offering Price

Less than $100,000 1.00%
$100,000 or greater 0.00%

 

(D)       MONEY MARKET AND ULTRASHORT BOND LOAD SCHEDULE

 

The Schedule of sales loads for Class A Shares of Funds so designated on the Schedule to this Exhibit is as follows:

 

Purchase Amount

Sales Charge as a Percentage of

Public Offering Price

  
 
All purchases 0.00%  

 

 

(E)       "LARGE TICKET" PURCHASES

 

Unless otherwise indicated on the Schedule to this Exhibit, a financial intermediary that places an order to purchase $1,000,000 or more of Class A Shares shall receive from the principal underwriter an advance commission equal to 75 basis points (0.75%) of the public offering price. In such event, notwithstanding anything to the contrary in the Plan or this Exhibit, such Class A Shares shall be subject to a contingent deferred sales charge upon redemption within 24 months of purchase equal to 75 basis points (0.75%) of the lesser of (x) the purchase price of the Class A Shares or (y) the redemption price of the Class A Shares. Any contingent deferred sales charge received upon redemption of Class A Shares shall be paid to the principal underwriter in consideration of the advance commission.

 

(F)       REDUCING OR ELIMINATING THE SALES LOAD

 

Contingent upon notification to the Fund’s principal underwriter or transfer agent, in applying the exceptions set forth in this Section 3, the purchase amount shall take into account:

 

·                           Discounts achieved by combining concurrent purchases of and/or current investment in Class A, Class B, Class C, Class F, and Class R Shares, made or held by (or on behalf of) the investor, the investor’s spouse, and the investor’s children under age 21 (regardless of whether the purchases or investments are made or held directly or through an investment professional or through a single-participant retirement account); provided that such purchases and investments can be linked using tax identification numbers (TINs), social security numbers (SSNs), or Broker Identification Numbers (BINs); and
·                           Letters of intent to purchase a certain amount of Class A Shares within a thirteen month period.

 

(G)       waiver of sales load

 

Continent upon notification to the Fund’s Transfer Agent, no sales load shall be assessed on purchases of Class A Shares made:

 

·                           within 120 days of redeeming shares of an equal or greater amount;
·                           through a program offered by a Financial Intermediary that provides for the purchase of Shares without imposition of a sales charge (for example, a wrap account, self-directed brokerage account, retirement or other fee-based program offered by the Financial Intermediary) and where the Financial Intermediary has agreed with the principal underwriter not to receive a dealer reallowance on purchases under such program;
·                           with reinvested dividends or capital gains;
·                           or Class A Shares, issued in connection with the merger, consolidation, or acquisition of the assets of another fund.  Further, no sales load shall be assessed on purchases of Shares made by a shareholder that originally became a shareholder of a Federated Fund pursuant to the terms of an agreement and plan of reorganization which permits shareholders to acquire Shares at NAV provided that such Shares are held directly with the Fund’s transfer agent.  If the Shares are held through a financial intermediary the sales charge waiver will not apply;
·                           by Federated Life Members (Federated shareholders who originally were issued shares through the “Liberty Account”, which was an account for the Liberty Family of Funds on February 28, 1987, or who invested through an affinity group prior to August 1, 1987, into the Liberty Account);
·                           by Directors, Trustees, employees, former employees and sales representatives of the Fund, the Adviser, the principal underwriter and their affiliates, employees of any investment professional that sells Shares according to a sales agreement with the principal underwriter, by the immediate family members of the above persons, and by trusts, pensions or profit-sharing plans for the above persons; and
·                           pursuant to the exchange privilege.  However, this sales charge waiver may not apply to Class A Shares purchased pursuant to the exchange privilege if a shareholder did not previously pay a sales load upon its initial purchase of Class A Shares.

 

 
 

 

(H)       WAIVER OF CONTINGENT DEFFERED SALES CHARGE ON LARGE-TICKET PURCHASES

 

Contingent upon notification to the Fund’s principal underwriter or transfer agent, no CDSC will be imposed on redemptions.

 

·                           following the death of the last surviving shareholder on the account, or the post-purchase disability of all registered shareholder(s), as defined in Section 72(m)(7) of the Internal Revenue Code.
·                           due to the termination of a trust following the death of the trustor/grantor or beneficiary, provided that the trust document specifically states that the trust is terminated upon the death
·                           representing minimum required distributions (“RMD”) from an Individual Retirement Account or other retirement plan as required under the Internal Revenue Code;
·                           of Shares originally purchased through a financial intermediary that did not receive an advance commission on the purchase;
·                           of Shares that were reinvested within 120 days of a previous redemption;
·                           of Shares held by the Directors, Trustees, employees, former employees and sales representatives of the Fund, the Adviser, the principal underwriter and their affiliates, employees of any investment professional that sells Shares according to a sales agreement with the principal underwriter, by the immediate family members of the above persons, and by trusts, pension or profit-sharing plans for the above persons;
·                           of Shares originally purchased through a program offered by a Financial Intermediary that provides for the purchase of Shares without imposition of a sales charge (for example, a wrap account, self-directed brokerage account, retirement, or other fee-based program offered by the Financial Intermediary) and where the Financial Intermediary has agreed with the principal underwriter not to receive an advanced commission on purchases under such program;
·                           of Shares purchased with reinvested dividends or capital gains;
·                           imposed by the Fund when it closes an account for not meeting the minimum balance requirements; and
·                           of Shares which were purchased pursuant to an exchange privilege if the Shares were held for the applicable CDSC holding period.

 

 

(I)SALES CHARGE WAIVERS FOR SHAREHOLDERS PURCHASING THROUGH CERTAIN FINANCIAL INTERMEDIARIES

 

Financial intermediary sales charge variations required to be disclosed by Rule 22d-1 shall be as set forth in the prospectus of a Fund, as may be amended from time to time.

 

 

4.       SPECIAL OFFER PROGRAM

 

[NOTE: The 30 month CDSC period connected with of this program expired in September of 2002]

During the Special Offer Program which took place in March, 2000, the sales load was waived on purchases of Class A Shares of Federated Aggressive Growth Fund, Federated Communications Technology Fund, Federated Large Cap Growth Fund, and Federated International Small Company Fund (the "Special Offer Funds"). Instead, the principal underwriter paid an advance commission of 2.00% of the offering price of the Special Offer Funds to intermediaries participating in the Special Offer Program. Class A Shares purchased through this Special Offer were subject to a CDSC of 2.00% on redemptions which occurred within 30 months after the purchase, which amount was to be paid to the principal underwriter in consideration for advancing the commission to intermediaries. Class A Shares of the Special Offer Funds purchased during the Special Offer Program could be exchanged with Class A Shares of other Special Offer Funds with no imposition of a sales load or CDSC fee. Class A Shares of the Special Offer Funds purchased during the Special Offer Program which were exchanged for Class A Shares of other Funds during the 30 month CDSC period incurred the CDSC fee upon redemption. However, no sales load was charged for such an exchange.

 

5.       REDEMPTION FEE

 

For purposes of Rule 11a-3 under the Act, any redemption fee received upon the redemption or exchange of Class A Shares will be applied to fees incurred or amount expended in connection with such redemption or exchange. The balance of any redemption fees shall be paid to the Fund.

 

A Fund shall waive any redemption fee with respect to (i) non-participant directed redemptions or exchanges involving Class A Shares held in retirement plans established under Section 401(a) or 401(k) of the Internal Revenue Code (the “Code”), custodial plan accounts established under Section 493(b)(7) of the Code, or deferred compensation plans established under Section 457 of the Code; (ii) redemptions or exchanges involving Class A Shares held in plans administered as college savings programs under Section 529 of the Code; and (iii) Class A Shares redeemed due to the death of the last surviving shareholder on the account.

 
 

Schedule of Funds
Offering Class A Shares

 

The Funds set forth on this Schedule each offer Class A Shares on the terms set forth in the Class A Shares Exhibit to the Multiple Class Plan, in each case as indicated below. The 12b-1 fees indicated are the maximum amounts authorized based on the average daily net asset value. Actual amounts accrued may be less.

 

1.       CLASS A SHARES SUBJECT TO THE BASIC LOAD SCHEDULE

 

Multiple Class Company

Series

12b-1

Fee

Redemption

Fee

     
Federated Hermes Adviser Series    
Federated Hermes Emerging Markets Equity Fund 0.05% None
Federated Hermes Absolute Return Credit Fund 0.05% None
Federated Hermes Conservative Microshort Fund

0.25%

(15 bps Active;

10 bps Dormant)

 None
Federated Hermes Conservative Municipal Microshort Fund

0.25%

(15 bps Active;

10 bps Dormant)

 None
Federated Hermes Global Equity Fund 0.05% None
Federated Hermes Global Small Cap Fund 0.05% None
Federated Hermes International Equity Fund 0.05% None
Federated Hermes Unconstrained Credit Fund 0.05% None
Federated Hermes US SMID Fund 0.05% None
Federated Hermes SDG Engagement Equity Fund 0.05% None
Federated Hermes SDG Engagement High Yield Credit Fund 0.05% None
Federated Hermes International Developed Equity Fund 0.05% None
Federated Hermes International Growth Fund 0.05% None
Federated Hermes MDT Large Cap Value Fund 0.05% None
Federated Hermes MDT Market Neutral Fund 0.05% None
Federated Hermes Equity Funds    
Federated Hermes Clover Small Value Fund 0.05% None
Federated Hermes International Strategic Value Dividend Fund 0.05% None
Federated Hermes Kaufmann Fund 0.25% None
Federated Hermes Kaufmann Large Cap Fund 0.25% None
Federated Hermes Kaufmann Small Cap Fund 0.25% None
Federated Hermes MDT Mid Cap Growth Fund None None
Federated Hermes Prudent Bear Fund 0.05% None
Federated Hermes Strategic Value Dividend Fund 0.05% None
     
Federated Hermes Equity Income Fund, Inc. 0.05% None
     
Federated Hermes Global Allocation Fund None None
     
Federated Hermes High Yield Trust    
     
Federated Hermes Income Securities Trust    
Federated Hermes Capital Income Fund None None
Federated Hermes Muni and Stock Advantage Fund 0.05% None
Federated Hermes Real Return Bond Fund 0.05% None
     
Federated Hermes MDT Series    
Federated Hermes MDT All Cap Core Fund 0.05% None
Federated Hermes MDT Balanced Fund 0.05% None
Federated Hermes MDT Large Cap Growth Fund 0.05% None
Federated Hermes MDT Small Cap Core Fund 0.05% None
Federated Hermes MDT Small Cap Growth Fund 0.05% None

 

 

    
Federated Hermes World Investment Series, Inc.    
Federated Hermes International Leaders Fund 0.05% None
Federated Hermes International Small-Mid Company Fund 0.05% None

 

2. CLASS A SHARES SUBJECT TO THE FIXED INCOME LOAD SCHEDULE

 

Multiple Class Company

Series

12b-1

Fee

Redemption

Fee

     
Federated Hermes Fixed Income Securities, Inc.    
Federated Hermes Strategic Income Fund None None
     
Federated Hermes Government Income Securities, Inc. 0.05% None
     
Federated Hermes High Income Bond Fund, Inc. None 2% on shares redeemed or exchanged within 90 days of purchase
     
Federated Hermes High Yield Trust    
Federated Hermes Opportunistic High Yield Bond Fund 0.05% 2% on shares redeemed or exchanged within 90 days of purchase
     
Federated Hermes Income Securities Trust    
Federated Hermes Fund for U.S. Government Securities None None
     
Federated Hermes International Series, Inc.    
Federated Hermes Global Total Return Bond Fund (formerly Federated International Bond Fund) 0.25% None
     
Federated Hermes Investment Series Funds, Inc.    
Federated Hermes Corporate Bond Fund 0.05% None
     
Federated Hermes Municipal Bond Fund, Inc. None None
     
Federated Hermes Municipal Securities Income Trust    
Federated Hermes Municipal High Yield Advantage Fund 0.05% None
Federated Hermes Ohio Municipal Income Fund 0.05% None
Federated Hermes Pennsylvania Municipal Income Fund 0.05% None
     
Federated Hermes Total Return Series, Inc.    
Federated Hermes Total Return Bond Fund 0.25% None
Federated Hermes Core Bond Fund 0.25% None
     
Federated Hermes World Investment Series, Inc.    
Federated Hermes Emerging Market Debt Fund None None

 

 
 

 

3. Class A Shares Subject to the MODIFIED FIXED INCOME Sales Load Schedule

 

Multiple Class Company

Series

12b-1

Fee

Redemption

Fee

     
Federated Hermes Income Securities Trust    
Federated Hermes Floating Rate Strategic Income Fund 0.05% None
Federated Hermes Short-Term Income Fund 0.05% None
     
Federated Hermes Institutional Trust    
Federated Hermes Short-Intermediate Total Return Bond Fund 0.05% None
     
Federated Hermes Short-Intermediate Municipal Fund 0.05% None

 

4. Class A Shares Subject to the Money Market AND ULTRASHORT BOND Load Schedule

 

Multiple Class Company

Series

12b-1

Fee

Redemption

Fee

     
Federated Hermes Fixed Income Securities, Inc.    
Federated Hermes Municipal Ultrashort Fund None None
     
Federated Hermes Institutional Trust    
Federated Hermes Government Ultrashort Fund None None
     
Federated Hermes Total Return Series, Inc.    
Federated Hermes Ultrashort Bond Fund None None
     
Federated Hermes Money Market Obligations Trust    
Federated Hermes Government Reserves Fund 0.45% None

 

5.       Class A Shares Not Participating in the Large Ticket Purchase Program

Multiple Class Company Series
Federated Hermes Fixed Income Securities, Inc. Federated Hermes Municipal Ultrashort Fund
Federated Hermes Income Securities Trust Federated Hermes Short-Term Income Fund
  Federated Hermes Floating Rate Strategic Income Fund
Federated Hermes Institutional Trust Federated Hermes Government Ultrashort Fund
Federated Hermes Short-Intermediate Duration Municipal Trust  
Federated Hermes Total Return Series, Inc. Federated Hermes Ultrashort Bond Fund
 
 

 

CLASS A1 SHARES EXHIBIT TO

MULTIPLE CLASS PLAN

9/1/20

 

1.SEPARATE ARRANGEMENT AND EXPENSE ALLOCATION

 

A1 Shares are available for shareholders investing through certain financial intermediaries that have entered into an agreement with the Funds’ distributor who has approved them for the sale of A1 Shares. A1 Shares may also be purchased directly from the Fund in certain circumstances. For purposes of Rule 18f-3 under the Act, the basic distribution and shareholder servicing arrangement of the Class A1 Shares will consist of sales and shareholder servicing by financial intermediaries in consideration of the payment of a portion of the applicable sales load (“dealer reallowance”) and a shareholder service fee. When indicated on the Schedule to this Exhibit, the principal underwriter and financial intermediaries may also receive payments for distribution and/or administrative services under a 12b-l Plan. In connection with this basic arrangement, Class A1 Shares will bear the following fees and expenses:

 

 

Fees and Expenses Maximum Amount Allocated Class A1 Shares
Sales Load Up to 2.00% of the public offering price
Contingent Deferred Sales Charge (“CDSC”) 0.00%
Shareholder Service Fee Up to 25 basis points (0.25%) of the average daily net asset value
12b-l Fee As set forth in the attached Schedule
Redemption Fee As set forth in the attached Schedule
Other Expenses Itemized expenses incurred by the Fund with respect to holders of Class A1 Shares as described in Section 3 of the Plan

 

 

2.CONVERSION AND EXCHANGE PRIVILEGES

 

For purposes of Rule 18f-3, Class A1 Shares have the following conversion rights and exchange privileges at the election of the shareholder:

 

Conversion Rights: At the election of the shareholder, Class A1 Shares that are not subject to a contingent deferred sales charge (“CDSC”) based upon the redemption of a “Large Ticket” purchase made within 24 months may be converted to any other Share Class within the same Fund, provided that shareholder meets the eligibility requirements for the Share Class into which the conversion is sought, as applicable.
Exchange Privilege: Class A1 Shares may be exchanged for Class A1 Shares of any other Fund

 

In any exchange, the shareholder shall receive shares having the same aggregate net asset value as the shares surrendered. Exchanges to any other Class shall be treated in the same manner as a redemption and purchase.

3.EXCEPTIONS TO BASIC ARRANGEMENTS

 

For purposes of Rules 22d-l and 6c-10 under the Act, unless otherwise specified on the Schedule to this Exhibit, the scheduled variations in sales loads and contingent deferred sales charges are as follows:

 

(A)BASIC SALES LOAD SCHEDULE

 

The basic schedule of sales loads for Class A1 Shares of Funds so designated on the Schedule to this Exhibit is as follows:

 

Purchase Amount

Sales Charge as a Percentage of

Public Offering Price

Less than $100,000 2.00%
$100,000 but less than $250,000 1.50%
$250,000 but less than $500,000 1.00%
$500,000 or greater 0.00%

 

(B)“LARGE TICKET” PURCHASES

 

Unless otherwise indicated on the Schedule to this Exhibit, a financial intermediary that places an order to purchase $1,000,000 or more of Class A1 Shares shall receive from the principal underwriter an advance commission equal to 75 basis points (0.75%) of the public offering price. In such event, notwithstanding anything to the contrary in the Plan or this Exhibit, such Class A1 Shares shall be subject to a contingent deferred sales charge upon redemption within 24 months of purchase equal to 75 basis points (0.75%) of the lesser of (x) the purchase price of the Class A1 Shares or (y) the redemption price of the Class A1 Shares. Any contingent deferred sales charge received upon redemption of Class A1 Shares shall be paid to the principal underwriter in consideration of the advance commission.

 

(C)REDUCING OR ELIMINATING THE SALES LOAD

 

Contingent upon notification to the Fund’s principal underwriter or transfer agent, in applying the exceptions set forth in this Section 3, the purchase amount shall take into account:

 

•Discounts achieved by combining concurrent purchases of and/or current investment in Class A, Class A1, Class B, Class C, Class F, and Class R Shares, made or held by (or on behalf of) the investor, the investor’s spouse, and the investor’s children under age 21 (regardless of whether the purchases or investments are made or held directly or through an investment professional or through a single- participant retirement account); provided that such purchases and investments can be linked using tax identification numbers (TINs), social security numbers (SSNs), or Broker Identification Numbers (BINs); and
•Letters of intent to purchase a certain amount of Class A1 Shares within a thirteen month period.

 

(D)WAIVER OF SALES LOAD

 

Continent upon notification to the Fund’s Transfer Agent, no sales load shall be assessed on purchases of Class A1 Shares made:

 

•within 120 days of redeeming shares of an equal or greater amount;
•through a program offered by a Financial Intermediary that provides for the purchase of Shares without imposition of a sales charge (for example, a wrap account, self-directed brokerage account, retirement or other fee-based program offered by the Financial Intermediary) and where the Financial Intermediary has agreed with the principal underwriter not to receive a dealer reallowance on purchases under such program;
•with reinvested dividends or capital gains;
•or Class A1 Shares, issued in connection with the merger, consolidation, or acquisition of the assets of another fund. Further, no sales load shall be assessed on purchases of Shares made by a shareholder that originally became a shareholder of a Federated Fund pursuant to the terms of an agreement and plan of reorganization which permits shareholders to acquire Shares at NAV provided that such Shares are held directly with the Fund’ s transfer agent. If the Shares are held through a financial intermediary the sales charge waiver will not apply;
•by Federated Life Members (Federated shareholders who originally were issued shares through the “Liberty Account”, which was an account for the Liberty Family of Funds on February 28, 1987, or who invested through an affinity group prior to August 1, 1987, into the Liberty Account);
•by Directors, Trustees, employees, former employees and sales representatives of the Fund, the Adviser, the principal underwriter and their affiliates, employees of any investment professional that sells Shares according to a sales agreement with the principal underwriter, by the immediate family members of the above persons, and by trusts, pensions or profit-sharing plans for the above persons; and
•pursuant to the exchange privilege.

 

(E)WAIVER OF CONTINGENT DEFERRED SALES CHARGE ON LARGE-TICKET PURCHASES

 

Contingent upon notification to the Fund’s principal underwriter or transfer agent, no CDSC will be imposed on redemptions.

 

•following the death of the last surviving shareholder on the account, or the post-purchase disability of all registered shareholder(s), as defined in Section 72(m)(7) of the Internal Revenue Code.
•due to the termination of a trust following the death of the trustor/grantor or beneficiary, provided that the trust document specifically states that the trust is terminated upon the death
•representing minimum required distributions (“RMD”) from an Individual Retirement Account or other retirement plan as required under the Internal Revenue Code;
•of Shares originally purchased through a financial intermediary that did not receive an advance commission on the purchase;
•of Shares that were reinvested within 120 days of a previous redemption;
•of Shares held by the Directors, Trustees, employees, former employees and sales representatives of the Fund, the Adviser, the principal underwriter and their affiliates, employees of any investment professional that sells Shares according to a sales agreement with the principal underwriter, by the immediate family members of the above persons, and by trusts, pension or profit-sharing plans for the above persons;
•of Shares originally purchased through a program offered by a Financial Intermediary that provides for the purchase of Shares without imposition of a sales charge (for example, a wrap account, self-directed brokerage account, retirement, or other fee-based program offered by the Financial Intermediary) and where the Financial Intermediary has agreed with the principal underwriter not to receive an advanced commission on purchases under such program;
•of Shares purchased with reinvested dividends or capital gains;
•imposed by the Fund when it closes an account for not meeting the minimum balance requirements; and
•of Shares which were purchased pursuant to an exchange privilege if the Shares were held for the applicable CDSC holding period.

 

4.REDEMPTION FEE

 

For purposes of Rule 11a-3 under the Act, any redemption fee received upon the redemption or exchange of Class A1 Shares will be applied to fees incurred or amount expended in connection with such redemption or exchange. The balance of any redemption fees shall be paid to the Fund.

 

A Fund shall waive any redemption fee with respect to (i) non-participant directed redemptions or exchanges involving Class A1 Shares held in retirement plans established under Section 40l(a) or 40l(k) of the Internal Revenue Code (the “Code”), custodial plan accounts established under Section 493(b)(7) of the Code, or deferred compensation plans established under Section 457 of the Code; (ii) redemptions or exchanges involving Class A1 Shares held in plans administered as college savings programs under Section 529 of the Code; and (iii) Class A1 Shares redeemed due to the death of the last surviving shareholder on the account.

 
 

 

 

SCHEDULE OF FUNDS OFFERING CLASS A1 SHARES

 

The Funds set forth on this Schedule each offer Class A1 Shares on the terms set forth in the Class A1 Shares Exhibit to the Multiple Class Plan, in each case as indicated below. The 12b-1 fees indicated are the maximum amounts authorized based on the average daily net asset value. Actual amounts accrued may be less.

 

1.CLASS A1 SHARES SUBJECT TO THE BASIC LOAD SCHEDULE

 

Multiple Class Company

Series

 12b-l Fee Redemption Fee
     
Federated Hermes Income Securities Trust    
Federated Hermes Floating Rate Strategic Income Fund 0.05% None
     

 

 

 

 

 

 

 

 

 

 

 
 

 

Administrative Shares Exhibit

To

Multiple Class Plan

(Revised 6/29/ 2020)

 

1.       SEPARATE ARRANGEMENT AND EXPENSE ALLOCATION

 

For purposes of Rule 18f-3 under the Act, the basic distribution and shareholder servicing arrangement of the Administrative (“ADM”) Shares will consist of sales and shareholder servicing by financial intermediaries. The principal underwriter and financial intermediaries may receive payments for distribution and/or administrative services under a Rule 12b-1 Plan and financial intermediaries may also receive shareholder service fees for services provided. In connection with this basic arrangement, ADM Shares will bear the following fees and expenses:

 

Fees and Expenses Maximum Amount Allocated ADM Shares
Sales Load None
Contingent Deferred Sales Charge ("CDSC") None
Shareholder Service Fee As set forth in the attached Schedule
12b-1 Fee As set forth in the attached Schedule
Other Expenses Itemized expenses incurred by the Fund with respect to holders of ADM Shares as described in Section 3 of the Plan
   

 

2.       CONVERSION AND EXCHANGE PRIVILEGES

 

For purposes of Rule 18f-3, ADM Shares have the following conversion rights and exchange privileges at the election of the shareholder:

 

Conversion Rights: At the election of the shareholder, ADM Shares may be converted to any other Share Class of the same Fund, provided that the shareholder meets the eligibility requirements for the Share Class into which the conversion is sought, as applicable.
Exchange Privilege: ADM Shares may be exchanged into any Federated Hermes fund or share class that does not have a stated sales charge or contingent deferred sales charge, except Shares of  Federated Hermes Institutional Money Market, Federated Hermes Institutional Prime Obligations Fund, Federated Hermes Institutional Tax-Free Cash Trust, Federated Hermes Institutional Prime Value Obligations Fund, Class A Shares of Federated Hermes Government Reserves Fund and Class R Shares of any Fund, provided that the shareholder meets any shareholder eligibility and minimum initial investment requirements for the Shares to be purchased, (if applicable), both accounts have identical registrations, and the shareholder receives a prospectus for the fund in which the shareholder wishes to exchange.

 

An exchange will be treated as a redemption and a subsequent purchase, and will be a taxable transaction. Exchange privileges may be modified or terminated at any time. A conversion of classes should not result in a realization for tax purposes.

 
 

 

Schedule of Funds
Offering ADM Shares

 

The Funds set forth on this Schedule each offer ADM Shares on the terms set forth in the ADM Shares Exhibit to the Multiple Class Plan, in each case as indicated below. The 12b-1 fees indicated are the maximum amounts authorized based on the average daily net asset value. Actual amounts accrued may be less.

 

1.       ADM SHARES SUBJECT TO THE BASIC LOAD SCHEDULE

 

Multiple Class Company

Series

 12b-1 Fee Shareholder Service Fee
     
Federated Hermes Money Market Obligations Trust    
Federated Hermes Government Obligations Fund 0.25% Up to 0.25%, with 0.05% of the service fee being active upon the initial offering of the ADM Shares and 0.20% remaining dormant until approved by the Fund’s Board

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
 

 

 

ADVISoR Shares Exhibit

To

Multiple Class Plan

(6/29/20)

 

1.       SEPARATE ARRANGEMENT AND EXPENSE ALLOCATION

 

Advisor (“AVR”) Shares are available exclusively for shareholders investing through certain financial intermediaries that have entered into an agreement with the Funds’ distributor who has approved them for the sale of AVR Shares. For purposes of Rule 18f-3 under the Act, the basic distribution and shareholder servicing arrangement of the AVR Shares will consist of sales and shareholder servicing by financial intermediaries. In connection with this basic arrangement, AVR Shares will bear the following fees and expenses:

 

Fees and Expenses Maximum Amount Allocated AVR Shares
Sales Load None
Contingent Deferred Sales Charge ("CDSC") None
Shareholder Service Fee Up to 25 basis points (0.25%) of the average daily net asset value
12b-1 Fee As set forth in the attached Schedule
Other Expenses Itemized expenses incurred by the Fund with respect to holders of AVR Shares as described in Section 3 of the Plan
   

 

2.       CONVERSION AND EXCHANGE PRIVILEGES

 

For purposes of Rule 18f-3, AVR Shares have the following conversion rights and exchange privileges at the election of the shareholder:

 

Conversion Rights: None.
Exchange Privilege: AVR Shares may be exchanged into any Federated Hermes fund or share class that does not have a stated sales charge or contingent deferred sales charge, except Shares of Federated Hermes Institutional Money Market Management, Federated Hermes Institutional Prime Obligations Fund, Federated Hermes Institutional Tax-Free Cash Trust, Federated Hermes Institutional Prime Value Obligations Fund, Class A Shares of Federated Hermes Government Reserves Fund and Class R Shares of any Fund, provided that the shareholder meets any shareholder eligibility and minimum initial investment requirements for the Shares to be purchased, (if applicable), both accounts have identical registrations, and the shareholder receives a prospectus for the fund in which the shareholder wishes to exchange.

 

An exchange will be treated as a redemption and a subsequent purchase, and will be a taxable transaction. Exchange privileges may be modified or terminated at any time.

 

 
 

Schedule of Funds
Offering AVR Shares

 

The Funds set forth on this Schedule each offer AVR Shares on the terms set forth in the AVR Shares Exhibit to the Multiple Class Plan, in each case as indicated below. The 12b-1 fees indicated are the maximum amounts authorized based on the average daily net asset value. Actual amounts accrued may be less.

 

1.       AVR SHARES SUBJECT TO THE BASIC LOAD SCHEDULE

 

Multiple Class Company

Series

 12b-1 Fee
   
Federated Hermes Money Market Obligations Trust  
Federated Hermes Government Obligations Fund None
Federated Hermes Prime Cash Obligations Fund None
Federated Hermes Tax-Free Obligations Fund None

 

 
 

 

 

AUTOMATED Shares Exhibit

To

Multiple Class Plan

(revised 6/29/20)

 

1.       Separate Arrangement And Expense Allocation

For purposes of Rule 18f-3 under the Act, the basic distribution and shareholder servicing arrangement of the Automated Shares will consist of sales and shareholder servicing by financial intermediaries. Financial intermediaries may receive shareholder service fees for services provided. In connection with this basic arrangement, Automated Shares will bear the following fees and expenses:

 

Fees and Expenses Maximum Amount Allocated Automated Shares
Sales Load None

Contingent Deferred

Sales Charge ("CDSC")

 

None

Shareholder Service Fee

Recordkeeping Fee

Up to 25 basis points (0.25%) of the average daily net asset value

Up to 10 basis points (0.10%) of the average daily net asset value

12b-1 Fee None
Other Expenses Itemized expenses incurred by the Fund with respect to holders of Automated Shares as described in Section 3 of the Plan

 

2.       Conversion and Exchange Privileges

 

For purposes of Rule 18f-3, Automated Shares have the following conversion rights and exchange privileges at the election of the shareholder:

 

Conversion Rights: At the election of the shareholder, Shares may be converted into any other Share Class of the same Fund, provided that the shareholder meets the eligibility requirements for the Share Class into which the conversion is sought, as applicable.
Exchange Privileges: Automated Shares may be exchanged into any Federated Hermes fund or share class that does not have a stated sales charge or contingent deferred sales charge, except Shares of Federated Hermes Institutional Money Market Management, Federated Hermes Institutional Prime Obligations Fund, Federated Hermes Institutional Tax-Free Cash Trust, Federated Hermes Institutional Prime Value Obligations Fund, Class A Shares of Federated Hermes Government Reserves Fund and Class R Shares of any Fund, provided that the shareholder meets any shareholder eligibility and minimum initial investment requirements for the Shares to be purchased, (if applicable), both accounts have identical registrations, and the shareholder receives a prospectus for the fund in which the shareholder wishes to exchange.

In any exchange, the shareholder shall receive shares having the same aggregate net asset value as the shares surrendered, after the payment of any redemption fees to the Fund. Exchanges shall be treated in the same manner as a redemption and purchase.

 

Schedule of Funds
Offering AUTOMATED Shares

 

The Funds set forth on this Schedule each offer Automated Shares on the terms set forth in the Automated Shares Exhibit to the Multiple Class Plan.

 

Multiple Class Company

Series

 
Federated Hermes Money Market Obligations Trust
  Federated Hermes Municipal Obligations Fund
  Federated Hermes Prime Cash Obligations Fund
  Federated Hermes Government Obligations Tax-Managed Fund
  Federated Hermes Treasury Obligations Fund

 

 

 

 

 

 
 

 

 

Class B Shares Exhibit

To

Multiple Class Plan

(Revised 6/29/20)

 

1.       Separate Arrangement And Expense Allocation

For purposes of Rule 18f-3 under the Act, the basic distribution and shareholder servicing arrangement of the Class B Shares will consist of sales by financial intermediaries in consideration of the payment of an advance commission paid by the principal underwriter. Financial intermediaries may perform shareholder services and receive a shareholder service fee for their services. In consideration of advancing commissions and/or the provision of shareholder services, the principal underwriter may receive the contingent deferred sales charges paid upon redemption of Class B Shares, and/or shareholder service fees and/or fees under a 12b-1 plan. In connection with this basic arrangement, Class B Shares will bear the following fees and expenses:

Fees and Expenses Maximum Amount Allocated Class B Shares
Sales Load None
Contingent Deferred Sales Charge (“CDSC”) Up to 5.5% of the share price at the time of purchase or redemption, whichever is lower
Shareholder Service Fee Up to 25 basis points (0.25%) of the average daily net asset value
12b-1 Fee Up to 75 basis points (0.75%) of the average daily net asset value
Redemption Fee As set forth in the attached Schedule
Other Expenses Itemized expenses incurred by the Fund with respect to holders of Class B Shares as described in Section 3 of the Plan

 

2.       Conversion and Exchange Privileges

For purposes of Rule 18f-3, Class B Shares have the following conversion rights and exchange privileges at the election of the shareholder:

Conversion Rights: After Class B Shares have been held for eight years from the date of purchase, they will automatically convert into Class A Shares.
Exchange Privilege: Class B Shares may be exchanged for Class B Shares of any other fund.

In any conversion or exchange, the shareholder shall receive shares having the same aggregate net asset value as the shares surrendered. Exchanges to any other Class shall be treated in the same manner as a redemption and purchase.

 
 

3.       Exceptions to Basic Arrangements

For purposes of Rules 6c-10 and 22d-1 under the Act, unless otherwise specified on the Schedule to this Exhibit, the scheduled variations in contingent deferred sales charges payable upon redemption are as follows:

(A)       BASIC CDSC SCHEDULE

Shares Held Up to: To: Have A CDSC Of:
1 year 5.50 %
2 years 4.75 %
3 years 4.00 %
4 years 3.00 %
5 years 2.00 %
6 years 1.00 %
7 years 0.00 %
8 years Convert to Class A Shares

 

(B)       WAIVER OF CDSC

Contingent upon notification to the Fund’s principal underwriter or transfer agent, no CDSC will be imposed on redemptions:

·                  following the death of the last surviving shareholder or post-purchase disability, as defined in Section 72(m)(7) of the Internal Revenue Code of 1986;
·                  due to the termination of a trust following the death of the trustor/grantor or beneficiary, provided that the trust document specifically states that the trust is terminated upon the death
·                  representing minimum required distributions (“RMD”) from an Individual Retirement Account or other retirement plan as required under the Internal Revenue Code;
·                  of Shares that were reinvested within 120 days of a previous redemption;
·                  of Shares held by the Directors, Trustees, employees, former employees and sales representatives of the Fund, the Adviser, the principal underwriter and their affiliates, employees of any investment professional that sells Shares according to a sales agreement with the principal underwriter, by the immediate family members of the above persons, and by trusts, pension or profit-sharing plans for the above persons;
·                  of Shares originally purchased through a program offered by a Financial Intermediary that provides for the purchase of Shares without imposition of a sales charge (for example, a wrap account, self-directed brokerage account, retirement, or other fee-based program offered by the Financial Intermediary) and where the Financial Intermediary has agreed with the principal underwriter not to receive an advanced commission on purchases under such program;
·                  of Shares purchased with reinvested dividends or capital gains;
·                  imposed by the Fund when it closes an account for not meeting the minimum balance requirements; and
·                  of Shares which were purchased pursuant to an exchange privilege if the Shares were held for the applicable CDSC holding period.

 

(C) SYSTEMATIC WITHDRAWAL PROGRAM

Contingent upon notification to the principal underwriter or the Fund’s transfer agent, no CDSC will be imposed on redemptions that are qualifying redemptions of Class B Shares under a Systematic Withdrawal Program as described in the applicable prospectus and statement of additional information.

(D) SALES CHARGE WAIVERS FOR SHAREHOLDERS PURCHASING THROUGH CERTAIN FINANCIAL INTERMEDIARIES

 

Financial intermediary sales charge variations required to be disclosed by Rule 22d-1 shall be as set forth in the prospectus of a Fund, as may be amended from time to time.

 

4.       Redemption Fee

For purposes of Rule 11a-3 under the Act, any redemption fee received upon the redemption or exchange of Class B Shares will be applied to fees incurred or amount expended in connection with such redemption or exchange. The balance of any redemption fees shall be paid to the Fund.

A Fund shall waive any redemption fee with respect to (i) non-participant directed redemptions or exchanges involving Class B Shares held in retirement plans established under Section 401(a) or 401(k) of the Internal Revenue Code (the “Code”), custodial plan accounts established under Section 493(b)(7) of the Code, or deferred compensation plans established under Section 457 of the Code; (ii) redemptions or exchanges involving Class B Shares held in plans administered as college savings programs under Section 529 of the Code; and (iii) Class B Shares redeemed due to the death of the last surviving shareholder on the account.

Schedule of Funds
Offering Class B Shares

The Funds set forth on this Schedule each offer Class B Shares on the terms set forth in the Class B Shares Exhibit to the Multiple Class Plan, in each case as indicated below. The 12b-1 fees indicated are the maximum amounts authorized based on the average daily net asset value. Actual amounts accrued may be less.

CLASS B SHARES SUBJECT TO THE BASIC LOAD SCHEDULE

Multiple Class Company
Series		 12b-1 Fee Redemption Fee
     
Federated Hermes Adviser Series:    
Federated Hermes MDT Large Cap Value Fund 0.75% None
     
Federated Hermes Equity Funds:    
Federated Hermes Kaufmann Fund 0.75% None
Federated Hermes Kaufmann Small Cap Fund 0.75% None
     
     
Federated Hermes Equity Income Fund, Inc. 0.75% None
     
Federated Hermes Fixed Income Securities, Inc.:    
Federated Hermes Strategic Income Fund 0.75% None
     
Federated Hermes Global Allocation Fund 0.75% None
     
Federated Hermes High Income Bond Fund, Inc. 0.75% 2% on shares redeemed or exchanged within 90 days of purchase
     
Federated Hermes Income Securities Trust:    
Federated Hermes Capital Income Fund 0.75% None
Federated Hermes Fund for U.S. Government Securities 0.75% None
Federated Hermes Muni and Stock Advantage Fund 0.75% None
     
Federated Hermes Investment Series Funds, Inc.:    
Federated Hermes Corporate Bond Fund 0.75% None
     
Federated Hermes MDT Series:    
Federated Hermes MDT Large Cap Growth Fund 0.75% None
     
Federated Hermes Municipal Bond Fund, Inc. 0.75% None
     
Federated Hermes Municipal Securities Income Trust:    
Federated Hermes Municipal High Yield Advantage Fund 0.75% None
     
     

CLASS B SHARES SUBJECT TO THE BASIC LOAD SCHEDULE (continued)

 

Multiple Class Company
Series		 12b-1 Fee Redemption Fee
     
Federated Hermes Total Return Series, Inc.:    
Federated Hermes Total Return Bond Fund 0.75% None
     
Federated Hermes World Investment Series, Inc.:    
Federated Hermes International Leaders Fund 0.75% None
     
Federated Hermes Money Market Obligations Trust:    
Federated Hermes Government Reserves Fund 0.75% None

 

 

 

 
 

 

 

 

Class C Shares Exhibit

To

Multiple Class Plan

(revised 03/01/2021)

 

1.       Separate Arrangement And Expense Allocation

 

For purposes of Rule 18f-3 under the Act, the basic distribution and shareholder servicing arrangement of the Class C Shares will consist of sales by financial intermediaries in consideration of an advance commission of up to 1.00% of the public offering price, paid by the principal underwriter. Financial intermediaries may also provide shareholder services and may receive shareholder services fees therefor. Additionally, the principal underwriter and financial intermediaries may receive distribution and/or administrative service fees under the 12b-1 Plan. In cases where the principal underwriter has advanced a commission to the financial intermediary, such 12b-1 fees will be paid to the financial intermediary beginning in the thirteenth month after purchase. In consideration of advancing commissions, the principal underwriter will receive the contingent deferred sales charges paid upon redemption of Class C Shares and payments made under the 12b-1 Plan for twelve months following the purchase. In connection with this basic arrangement, Class C Shares will bear the following fees and expenses:

 

Fees and Expenses Maximum Amount Allocated Class C Shares
Contingent Deferred Sales Charge (“CDSC”) 1.00% of the share price at the time of purchase or redemption, whichever is lower if redeemed within twelve months following purchase
   
Shareholder Service Fee Up to 25 basis points (0.25%) of the average daily net asset value
   
12b-1 Fee As set forth in the attached Schedule
   
Redemption Fee As set forth in the attached Schedule
   
Other Expenses Itemized expenses incurred by the Fund with respect to holders of Class C Shares as described in Section 3 of the Plan

 

2.       Conversion and Exchange Privileges

 

For purposes of Rule 18f-3, Class C Shares have the following conversion rights and exchange privileges at the election of the shareholder:

 

Conversion Rights:

At the election of the shareholder, Class C Shares that are not subject to a contingent deferred sales charge (“CDSC”) may be converted to any other Share Class of the same Fund, provided that the shareholder meets the eligibility requirements for the Share Class into which the conversion is sought, as applicable. For Class C Shares purchased through a financial intermediary after June 30, 2017, such shares may only be converted to another Share Class of the same Fund if: (i) the Class C Shares are no longer subject to a CDSC or the financial intermediary agrees to reimburse the Fund’s distributor the CDSC otherwise payable upon the sale of such Class C Shares; (ii) the shareholder meets the investment minimum and eligibility requirements for the Share Class into which the conversion is sought, as applicable; and (iii) (A) the conversion is made to facilitate the shareholder’s participation in a self-directed brokerage account for a fee-based advisory program offered by the intermediary, or (B) the conversion is part of a multiple-client transaction through a particular financial intermediary as pre-approved by the Fund’s Administrator.

After Class C Shares have been held for eight years from the date of purchase, they will automatically convert into Class A Shares on the next monthly conversion processing date, provided that the Fund or financial intermediary, record keeper, or platform has records confirming that the Class C Shares have been held for at least eight years and that Class A Shares are available for purchase. The financial intermediary, record keeper, or platform shall provide, upon the Fund’s request, representations that it has records confirming that the Class C Shares have been held for at least eight years and that Class A Shares are available for purchase. For Class C Shares acquired in an exchange from another Fund, the date of purchase will be based on the initial purchase of the Class C Shares of the prior Fund.”

Exchange Privileges: Class C Shares may be exchanged for Class C Shares of any other Fund.  

In any exchange, the shareholder shall receive shares having the same aggregate net asset value as the shares surrendered. Exchanges to any other Class shall be treated in the same manner as a redemption and purchase.

 

3.       Exceptions to Basic Arrangements

 

For purposes of Rules 22d-1 and 6c-10 under the Act, unless otherwise specified on the Schedule to this Exhibit, the scheduled variations contingent deferred sales charges are as follows:

 

(A)        WAIVER OF CDSC

 

·                  following the death of the last surviving shareholder on the account, or post-purchase disability of all registered shareholder(s), as defined in Section 72(m)(7) of the Internal Revenue Code;
·                  due to the termination of a trust following the death of the trustor/grantor or beneficiary, provided that the trust document specifically states that the trust is terminated upon the death
·                  representing minimum required distributions (“RMD”) from an Individual Retirement Account or other retirement plan as required under the Internal Revenue Code;
·                  of Shares originally purchased through a financial intermediary that did not receive an advance commission on the purchase;
·                  of Shares that were reinvested within 120 days of a previous redemption;
·                  of Shares held by the Directors, Trustees, employees, former employees and sales representatives of the Fund, the Adviser, the principal underwriter and their affiliates, employees of any investment professional that sells Shares according to a sales agreement with the principal underwriter, by the immediate family members of the above persons, and by trusts, pension or profit-sharing plans for the above persons;
·                  of Shares originally purchased through a program offered by a Financial Intermediary that provides for the purchase of Shares without imposition of a sales charge (for example, a wrap account, self-directed brokerage account, retirement, or other fee-based program offered by the Financial Intermediary) and where the Financial Intermediary has agreed with the principal underwriter not to receive an advanced commission on purchases under such program;
·                  of Shares purchased with reinvested dividends or capital gains;
·                  imposed by the Fund when it closes an account for not meeting the minimum balance requirements; and
·                  of Shares which were purchased pursuant to an exchange privilege if the Shares were held for the applicable CDSC holding period.

 

(B) SALES CHARGE WAIVERS FOR SHAREHOLDERS PURCHASING THROUGH CERTAIN FINANCIAL INTERMEDIARIES

 

Financial intermediary sales charge variations required to be disclosed by Rule 22d-1 shall be as set forth in the prospectus of a Fund, as may be amended from time to time.

4.       Redemption Fee

 

For purposes of Rule 11a-3 under the Act, any redemption fee received upon the redemption or exchange of Class C Shares will be applied to fees incurred or amount expended in connection with such redemption or exchange. The balance of any redemption fees shall be paid to the Fund.

A Fund shall waive any redemption fee with respect to (i) non-participant directed redemptions or exchanges involving Class C Shares held in retirement plans established under Section 401(a) or 401(k) of the Internal Revenue Code (the “Code”), custodial plan accounts established under Section 493(b)(7) of the Code, or deferred compensation plans established under Section 457 of the Code; (ii) redemptions or exchanges involving Class C Shares held in plans administered as college savings programs under Section 529 of the Code; and (iii) Class C Shares redeemed due to the death of the last surviving shareholder on the account.

 

 
 

 

Schedule of Funds

Offering Class C Shares

 

The Funds set forth on this Schedule each offer Class C Shares on the terms set forth in the Class C Shares Exhibit to the Multiple Class Plan, in each case as indicated below. The 12b-1 fees indicated are the maximum amounts authorized based on the average daily net asset value. Actual amounts accrued may be less.

 

CLASS C SHARES SUBJECT TO THE BASIC LOAD SCHEDULE

Multiple Class Company
Series		 12b-1 Fee Redemption Fee
Federated Hermes Adviser Series    
Federated Hermes Emerging Markets Equity Fund 0.75% None
Federated Hermes Absolute Return Credit Fund 0.75% None
Federated Hermes Global Equity Fund 0.75% None
Federated Hermes Global Small Cap Fund 0.75% None
Federated Hermes International Equity Fund 0.75% None
Federated Hermes SDG Engagement Equity Fund 0.75% None
Federated Hermes SDG Engagement High Yield Credit Fund 0.75% None
Federated Hermes Unconstrained Credit Fund 0.75% None
Federated Hermes US SMID Fund 0.75% None
Federated Hermes International Equity Fund 0.75% None
Federated Hermes International Growth Fund 0.75% None
Federated Hermes MDT Large Cap Value Fund 0.75% None
     
Federated Hermes Equity Funds:    
Federated Hermes Clover Small Value Fund 0.75% None
Federated Hermes International Strategic Value Dividend Fund 0.75% None
Federated Hermes Kaufmann Fund 0.75% None
Federated Hermes Kaufmann Large Cap Fund 0.75% None
Federated Hermes Kaufmann Small Cap Fund 0.75% None
Federated Hermes MDT Mid-Cap Growth Fund 0.75% None
Federated Hermes Prudent Bear Fund 0.75% None
Federated Hermes Strategic Value Dividend Fund 0.75% None
     
Federated Hermes Equity Income Fund, Inc. 0.75% None
     
Federated Hermes Fixed Income Securities, Inc.:    
Federated Hermes Strategic Income Fund 0.75% None
    None
Federated Hermes Global Allocation Fund 0.75% None
     
Federated Hermes Government Income Securities, Inc. 0.75% None
     
Federated Hermes High Income Bond Fund, Inc. 0.75% 2% on shares redeemed or exchanged within 90 days of purchase
     
Federated Hermes High Yield Trust    
Federated Hermes Opportunistic High Yield Bond Fund 0.75% 2% on shares redeemed or exchanged within 90 days of purchase
     
Federated Hermes Income Securities Trust:    
Federated Hermes Capital Income Fund 0.75% None
Federated Hermes Floating Rate Strategic Income Fund 0.75% None
Federated Hermes Fund for U.S. Government Securities 0.75% None
Federated Hermes Muni and Stock Advantage Fund 0.75% None
Federated Hermes Real Return Bond Fund 0.75% None
     
       
 
 

CLASS C SHARES SUBJECT TO THE BASIC LOAD SCHEDULE (continued)

Multiple Class Company
Series		 12b-1 Fee Redemption Fee
Federated Hermes Index Trust    
Federated Hermes Max-Cap Index Fund 0.75% None
     
Federated Hermes International Series, Inc.:    
Federated Hermes Global Total Return Bond Fund 0.75% None
     
Federated Hermes Investment Series Funds, Inc.:    
Federated Hermes Corporate Bond Fund 0.75% None
     
Federated Hermes MDT Series:    
Federated Hermes MDT All Cap Core Fund 0.75% None
Federated Hermes MDT Balanced Fund 0.75% None
Federated Hermes MDT Large Cap Growth Fund 0.75% None
Federated Hermes MDT Small Cap Core Fund 0.75% None
Federated Hermes MDT Small Cap Growth Fund 0.75% None
     
Federated Hermes Municipal Bond Fund, Inc. 0.75% None
     
Federated Hermes Municipal Securities Income Trust:    
Federated Hermes Municipal High Yield Advantage Fund 0.75% None
     
Federated Hermes Total Return Series, Inc.:    
Federated Hermes Total Return Bond Fund 0.75% None
     
Federated Hermes World Investment Series, Inc.:    
Federated Hermes Emerging Market Debt Fund 0.75% None
Federated Hermes International Leaders Fund 0.75% None
Federated Hermes International Small-Mid Company Fund 0.75% None
     
Federated Hermes Money Market Obligations Trust:    
Federated Hermes Government Reserves Fund 0.75% None

 

 

 
 

 

 

Capital Shares Exhibit

To

Multiple Class Plan

(Revised 6/29/20)

 

1.       Separate Arrangement And Expense Allocation

 

For purposes of Rule 18f-3 under the Act, the basic distribution and shareholder servicing arrangement of the Capital Shares will consist of sales and shareholder servicing by financial intermediaries. Financial intermediaries may receive shareholder service fees for services provided. In connection with this basic arrangement, Capital Shares will bear the following fees and expenses:

 

Fees and Expenses Maximum Amount Allocated Capital Shares
Sales Load None
Contingent Deferred Sales Charge ("CDSC") None
Shareholder Service Fee Up to 25 basis points (0.25%) of the average daily net asset value
12b-1 Fee None
Other Expenses Itemized expenses incurred by the Fund with respect to holders of Capital Shares as described in Section 3 of the Plan

 

2.       Conversion and Exchange Privileges

 

For purposes of Rule 18f-3, Capital Shares have the following conversion rights and exchange privileges at the election of the shareholder:

 

Conversion Rights: At the election of the shareholder, Shares may be converted into   any other Share Class of the same Fund, provided that the shareholder meets the eligibility requirements for the Share Class into which the conversion is sought, as applicable.
Exchange Privileges: Capital Shares may be exchanged into any Federated Hermes fund or share class that does not have a stated sales charge or contingent deferred sales charge, except Shares of Federated Hermes Institutional Money Market Management, Federated Hermes Institutional Prime Obligations Fund, Federated Hermes Institutional Tax-Free Cash Trust, Federated Hermes  Institutional Prime Value Obligations Fund, Class A Shares of Federated Hermes Government Reserves Fund and Class R Shares of any Fund, provided that the shareholder meets any shareholder eligibility and minimum initial investment requirements for the Shares to be purchased, (if applicable), both accounts have identical registrations, and the shareholder receives a prospectus for the fund in which the shareholder wishes to exchange.

In any exchange, the shareholder shall receive shares having the same aggregate net asset value as the shares surrendered. Exchanges to any other fund or class shall be treated in the same manner as a redemption and purchase.

 
 

Schedule of Funds

Offering Capital Shares

 

The Funds set forth on this Schedule each offer Capital Shares on the terms set forth in the Capital Shares Exhibit to the Multiple Class Plan.

 

Multiple Class Company

Series

 
Federated Hermes Money Market Obligations Trust
  Federated Hermes California Municipal Cash Trust
  Federated Hermes Government Obligations Fund
  Federated Hermes Institutional Money Market Management
  Federated Hermes Municipal Obligations Fund
  Federated Hermes Prime Cash Obligations Fund
  Federated Hermes Institutional Prime Obligations Fund
  Federated Hermes Institutional Prime Value Obligations Fund
  Federated Hermes Treasury Obligations Fund

 

 

 

 

 
 

 

 

CasH II Shares Exhibit

To

Multiple Class Plan
(revised 6/29/20)

1.       Separate Arrangement And Expense Allocation

For purposes of Rule 18f-3 under the Act, the basic distribution and shareholder servicing arrangement of the Cash II Shares will consist of sales and shareholder servicing by financial intermediaries. The principal underwriter and financial intermediaries may receive payments for distribution and/or administrative services under a 12b-1 Plan and financial intermediaries may also receive shareholder services fees for services provided. In connection with this basic arrangement, Cash II Shares will bear the following fees and expenses:

Fees and Expenses Maximum Amount Allocated Cash II Shares
Sales Load None
Contingent Deferred Sales Charge ("CDSC") None
Shareholder Service Fee Up to 25 basis points (0.25%) of the average daily net asset value
12b-1 Fee As set forth in the attached Schedule
Other Expenses Itemized expenses incurred by the Fund with respect to holders of Cash II Shares as described in Section 3 of the Plan

 

2.       Conversion and Exchange Privileges

For purposes of Rule 18f-3, Cash II Shares have the following conversion rights and exchange privileges at the election of the shareholder:

Conversion Rights: At the election of the shareholder, Shares may be converted into any other Share Class of the same Fund, provided that the shareholder meets the eligibility requirements for the Share Class into which the conversion is sought, as applicable.
Exchange Privilege: Cash II Shares may be exchanged into any Federated Hermes fund or share class that does not have a stated sales charge or contingent deferred sales charge, except Shares of Federated Hermes Institutional Money Market Management, Federated Hermes Institutional Prime Obligations Fund, Federated Hermes Institutional Tax-Free Cash Trust, Federated Hermes Institutional Prime Value Obligations Fund, Class A Shares of Federated Hermes Government Reserves Fund and Class R Shares of any Fund, provided that the shareholder meets any shareholder eligibility and minimum initial investment requirements for the Shares to be purchased, (if applicable), both accounts have identical registrations, and the shareholder receives a prospectus for the fund in which the shareholder wishes to exchange.

 

In any exchange, the shareholder shall receive shares having the same aggregate net asset value as the shares surrendered. Exchanges to any other fund or class shall be treated in the same manner as a redemption and purchase.

 
 

 

Schedule of Funds
Offering Cash II Shares

The Funds set forth on this Schedule each offer Cash II Shares on the terms set forth in the Cash II Shares Exhibit to the Multiple Class Plan, in each case as indicated below. The 12b-1 fees indicated are the maximum amounts authorized based on the average daily net asset value. Actual amounts accrued may be less.

Multiple Class Company
Series		 12b-1 Fee
   
Federated Hermes Money Market Obligations Trust:  
Federated Hermes California Municipal Cash Trust 0.20%
Federated Hermes Government Obligations Fund 0.35%
Federated Hermes Municipal Obligations Fund 0.35%
Federated Hermes New York Municipal Cash Trust 0.25%
Federated Hermes Prime Cash Obligations Fund 0.35%
Federated Hermes Trust for U.S. Treasury Obligations 0.35%

 

 
 

 

 

Cash series Shares Exhibit

To

Multiple Class Plan

(Revised 12/1/20)

 

1.       Separate Arrangement And Expense Allocation

 

For purposes of Rule 18f-3 under the Act, the basic distribution and shareholder servicing arrangement for the Cash Series Shares will consist of sales and shareholder servicing by financial intermediaries. The principal underwriter and financial intermediaries may receive payments for distribution and/or administrative services under a 12b-1 Plan and financial intermediaries may receive a shareholder service fee for services provided. In connection with this basic arrangement, Cash Series Shares will bear the following fees and expenses:

 

Fees and Expenses Maximum Amount Allocated Cash Series Shares
Sales Load None

Contingent Deferred

Sales Charge ("CDSC")

 None
Shareholder Service Fee Up to 25 basis points (0.25%) of the average daily net asset value
12b-1 Fee As set forth in the attached Schedule
Other Expenses Itemized expenses incurred by the Fund with respect to holders of Cash Series Shares as described in Section 3 of the Plan

 

2.       Conversion and Exchange Privileges

 

For purposes of Rule 18f-3, Cash Series Shares have the following conversion rights and exchange privileges at the election of the shareholder:

 

Conversion Rights: At the election of the shareholder, Shares may be converted into any other Share Class of the same Fund, provided that the shareholder meets the eligibility requirements for the Share Class into which the conversion is sought, as applicable.
Exchange Privileges: Cash Series Shares may be exchanged into any Federated Hermes fund or share class that does not have a stated sales charge or contingent deferred sales charge, except Shares Federated Hermes Institutional Money Market Management, Federated Hermes Institutional Prime Obligations Fund, Federated Hermes Institutional Tax-Free Cash Trust, Federated Hermes Institutional Prime Value Obligations Fund, Class A Shares of Federated Hermes Government Reserves Fund and Class R Shares of any Fund, provided that the shareholder meets any shareholder eligibility and minimum initial investment requirements for the Shares to be purchased, (if applicable), both accounts have identical registrations, and the shareholder receives a prospectus for the fund in which the shareholder wishes to exchange.

 

In any exchange, the shareholder shall receive shares having the same aggregate net asset value as the shares surrendered. Exchanges to any other fund or class shall be treated in the same manner as a redemption and purchase.

 
 

Schedule of Funds

Offering Cash Series Shares

 

The Funds set forth on this Schedule each offer Cash Series Shares on the terms set forth in the Cash Series Shares Exhibit to Multiple Class Plan, in each case as indicated below. The 12b-1 fees indicated are the maximum amounts authorized based on the average daily net asset value. Actual amounts accrued may be less.

 

Multiple Class Company 12b-1 Fee
   
Federated Hermes Money Market Obligations Trust:  
Federated Hermes California Municipal Cash Trust 0.60%
Federated Hermes Government Obligations Fund 0.60%
Federated Hermes Municipal Obligations Fund 0.60%
Federated Hermes New York Municipal Cash Trust 0.60%
Federated Hermes Prime Cash Obligations Fund 0.60%
Federated Hermes Trust for U.S. Treasury Obligations 0.60%

 

 
 

 

 

 

EAGLE Shares Exhibit

To

Multiple Class Plan

(Revised 06/29/20)

 

1.       Separate Arrangement And Expense Allocation

 

For purposes of Rule 18f-3 under the Act, the basic distribution and shareholder servicing arrangement of the Eagle Shares will consist of sales and shareholder servicing by financial intermediaries. The principal underwriter and financial intermediaries may receive payments for distribution and/or administrative services under a Rule 12b-1 Plan and financial intermediaries may also receive shareholder service fees for services provided. In connection with this basic arrangement, Eagle Shares will bear the following fees and expenses:

 

Fees and Expenses Maximum Amount Allocated Eagle Shares
Sales Load None
Contingent Deferred Sales Charge ("CDSC") None
Shareholder Service Fee Up to 25 basis points (0.25%) of the average daily net asset value
12b-1 Fee As set forth in the attached Schedule
Other Expenses Itemized expenses incurred by the Fund with respect to holders of Eagle Shares as described in Section 3 of the Plan

 

2.       Conversion and Exchange Privileges

 

For purposes of Rule 18f-3, Eagle Shares have the following conversion rights and exchange privileges at the election of the shareholder:

 

Conversion Rights: At the election of the shareholder, Shares may be converted into any other Share Class of the same Fund, provided that the shareholder meets the eligibility requirements for the Share Class into which the conversion is sought, as applicable.
Exchange Privilege: Eagle Shares may be exchanged into any Federated Hermes fund or share class that does not have a stated sales charge or contingent deferred sales charge, except Shares Federated Hermes Institutional Money Market Management, Federated Hermes Institutional Prime Obligations Fund, Federated Hermes Institutional Tax-Free Cash Trust, Federated Hermes Institutional Prime Value Obligations Fund, Class A Shares of Federated Hermes Government Reserves Fund and Class R Shares of any Fund, provided that the shareholder meets any shareholder eligibility and minimum initial investment requirements for the Shares to be purchased, (if applicable), both accounts have identical registrations, and the shareholder receives a prospectus for the fund in which the shareholder wishes to exchange.

In any exchange, the shareholder shall receive shares having the same aggregate net asset value as the shares surrendered. Exchanges to any other Class shall be treated in the same manner as a redemption and purchase.

 
 

Schedule of FundS

Offering EAGLE Shares

 

The Funds set forth on this Schedule each offer Eagle Shares on the terms set forth in the Eagle Shares Exhibit to the Multiple Class Plan, in each case as indicated below. The 12b-1 fees indicated are the maximum amounts authorized based on the average daily net asset value. Actual amounts accrued may be less.

Multiple Class Company
Series		 12b-1 Fee
   
   

Federated Hermes Money Market Obligations Trust:

Federated Hermes Institutional Money Market Management

 

None

 

 

 
 

 

 

Class F Shares Exhibit

To

Multiple Class Plan

(Revised 6/29/20)

 

1.       Separate Arrangement And Expense Allocation

 

For purposes of Rule 18f-3 under the Act, the basic distribution and shareholder servicing arrangement for the Class F Shares will consist of sales by financial intermediaries in consideration of the payment of the sales load (“dealer reallowance”). Financial intermediaries may also provide shareholder services and may receive shareholder service fees therefor. Additionally, the principal underwriter may pay up to 100 basis points (1.00%) of the public offering price to financial intermediaries as an advance commission on sales. In consideration of advancing this payment, the principal underwriter will receive any contingent deferred sales charges paid upon redemption of Class F Shares and distribution service fees under the 12b-1 Plan on an ongoing basis. In connection with this basic arrangement Class F Shares will bear the following fees and expenses:

 

Fees and Expenses Maximum Amount Allocated Class F Shares
Sales Load Up to 100 basis points (1.00%) of the public offering price
Contingent Deferred Sales Charge ("CDSC") Up to 100 basis points (1.00%) of the share price at the time of original purchase or redemption, whichever is lower
Shareholder Service Fee Up to 25 basis points (0.25%) of the average daily net asset value
12b-1 Fee As set forth in the attached Schedule
Other Expenses Itemized expenses incurred by the Fund with respect to holders of Class F Shares as described in Section 3 of the Plan

 

2.       Conversion and Exchange Privileges

 

For purposes of Rule 18f-3, Class F Shares have the following conversion rights and exchange privileges at the election of the shareholder:

 

Conversion Rights: At the election of the shareholder, Class F Shares that are not subject to a contingent deferred sales charge (“CDSC”) may be converted into any other Share Class of the same Fund, provided that the shareholder meets the eligibility requirements for the Share Class into which the conversion is sought, as applicable.
Exchange Privileges: Class F Shares may be exchanged for Class F Shares of any other Fund.  

 

In any exchange, the shareholder shall receive shares having the same aggregate net asset value as the shares surrendered. Exchanges to any other Class shall be treated as a redemption and purchase.

 

3.       Exceptions to Basic Arrangements

 

For purposes of Rules 22d-1 and 6c-10 under the Act, unless otherwise specified on the Schedule to this Exhibit, the scheduled variations in sales load and contingent deferred sales charges are as follows:

 

(A)       BASIC SALES LOAD SCHEDULE *

 

 

Purchase Amount:

 Sales Charge as Percentage of Offering Price Sales Charge as a Percentage of NAV
Less than $1 million 1.00% 1.01%
$1 million or greater 0.00% 0.00%

(B)       CDSC SCHEDULE

Unless otherwise indicated below, the Schedule of Contingent Deferred Sales Charges for each Fund is as follows:

 

 

Purchase Amount:

 

Shares Held:

 Contingent Deferred Sales Charge:  
Under $2 million 4 years or less 1.00%
$2 million but less than $5 million 2 years or less 0.50%
$ 5 million or greater 1 year or less 0.25%

 

(C)       REDUCING OR ELIMINATING THE SALES LOAD

 

Contingent upon notification to the Fund’s principal underwriter or transfer agent, in applying the exceptions set forth in this Section 3, the purchase amount shall take into account:

 

  Discounts achieved by combining concurrent purchases of and/or current investment in Class A, Class B, Class C, Class F, and Class R Shares, made or held by (or on behalf of) the investor, the investor’s spouse, and the investor’s children under age 21 (regardless of whether the purchases or investments are made or held directly or through an investment professional or through a single-participant retirement account); provided that such purchases and investments can be linked using tax identification numbers (TINs), social security numbers (SSNs), or Broker Identification Numbers (BINs); and
  Letters of intent to purchase a certain amount of Class F Shares within a thirteen month period.

 

(D)       WAIVER OF SALES LOAD

 

Contingent upon notification to the Fund's principal underwriter or transfer agent, no sales load will be assessed on purchases of Class F Shares made:

 

·         within 120 days of redeeming Shares of an equal or greater amount;
·         through a financial intermediary that did not receive a dealer reallowance on the purchase;
  by shareholders who originally became shareholders of a Fund pursuant to the terms of an agreement and plan of reorganization which permits the shareholders to acquire shares at net asset value.  However, if the shareholder closes their account with the transfer agent, or if the shareholder transfers their account to another financial intermediary, the shareholder may no longer receive a sales charge waiver;
·         with reinvested dividends or capital gains;
·         by Directors, Trustees, employees, former employees and sales representatives of the Fund, the Adviser, the principal underwriter and their affiliates, employees of any investment professional that sells shares according to a sales agreement with the principal underwriter, by the immediate family members of the above persons, and by trusts, pension or profit-sharing plans for the above persons; and
·         pursuant to the exchange privilege.

 

 
 

 

(E)       WAIVER OF CDSC

 

Contingent upon notification to the Fund’s principal underwriter or transfer agent, no CDSC will be imposed on redemptions:

 

following the death of the last surviving shareholder on the account,  or post-purchase disability of all registered shareholder(s), as defined in Section 72(m)(7) of the Internal Revenue Code;
due to the termination of a trust following the death of the trustor/grantor or beneficiary, provided that the trust document specifically states that the trust is terminated upon the death
representing minimum required distributions (“RMD”) from an Individual Retirement Account or other retirement plan as required under the Internal Revenue Code;
of Shares originally purchased through a financial intermediary that did not receive an advance commission on the purchase.
of Shares that were reinvested within 120 days of a previous redemption of an equal or lesser amount;
of Shares held by the Directors, Trustees, employees, former employees and sales representatives of the Fund, the Adviser, the principal underwriter and their affiliates, employees of any investment professional that sells Shares according to a sales agreement with the principal underwriter, by the immediate family members of the above persons, and by trusts, pension or profit-sharing plans for the above persons;
of Shares originally purchased through a program offered by a Financial Intermediary that provides for the purchase of Shares without imposition of a sales charge (for example, a wrap account, self-directed brokerage account, retirement, or other fee-based program offered by the Financial Intermediary) and where the Financial Intermediary has agreed with the principal underwriter not to receive an advanced commission on purchases under such program;
of Shares purchased with reinvested dividends or capital gains;
imposed by the Fund when it closes an account for not meeting the minimum balance requirements;
of Shares which were purchased pursuant to an exchange privilege if the Shares were held for the applicable CDSC holding period; and
representing a total or partial distribution from a qualified plan, which would not include account transfer, rollovers, or redemptions for the purpose of reinvestment.  For these purposes, qualified plans would not include an Individual Retirement Account, Keogh Plan or custodial account following retirement.

 

 
 

 

Schedule of Funds

Offering Class F Shares

 

The Funds set forth on this Schedule each offer Class F Shares on the terms set forth in the Class F Shares Exhibit to the Multiple Class Plan, in each case as indicated below. The 12b-1 fees indicated are the maximum amounts authorized based on the average daily net asset value. Actual amounts accrued may be less.

 

CLASS F SHARES SUBJECT TO THE BASIC LOAD SCHEDULE

 

Multiple Class Company

Series

 12b-1 Fee
   
Federated Hermes Equity Income Fund, Inc. 0.25%
   

Federated Hermes Fixed Income Securities, Inc.:

Federated Hermes Strategic Income Fund

 

0.05%

   
Federated Hermes Government Income Securities, Inc. None
   

Federated Hermes Income Securities Trust:

Federated Hermes Capital Income Fund

Federated Hermes Muni and Stock Advantage Fund

 

0.05%

None

   

Federated Hermes Investment Series Funds, Inc.:

Federated Hermes Corporate Bond Fund

 

None

   
Federated Hermes Municipal Bond Fund, Inc. None
   

Federated Hermes Municipal Securities Income Trust:

Federated Hermes Municipal High Yield Advantage Fund

Federated Hermes Ohio Municipal Income Fund

 

0.05%

0.40%

   

Federated Hermes Money Market Obligations Trust:

Federated Hermes Government Reserves Fund

 

0.45%

 

 
 

 

 

Institutional/WEALTH Shares Exhibit

To

Multiple Class Plan

(REVISED 12/1/2020)

 

1.       Separate Arrangement And Expense Allocation

 

For purposes of Rule 18f-3 under the Act, the basic distribution and shareholder servicing arrangement of the Institutional and Wealth Shares will consist of

 

(i) with respect to money market funds, sales and shareholder servicing by financial intermediaries; and
   
(ii) with respect to fluctuating NAV funds, sales and shareholder servicing by financial intermediaries to the following categories of investors (“Eligible Investors”);

 

·         An investor participating in a no-load platform, network or other fee-based program offered by a financial intermediary, for example, a wrap-account or retirement platform, where Federated has entered into an agreement with the intermediary;
·         A trustee/director, employee or former employee of the Fund, the Adviser, the Distributor and their affiliates; an immediate family member of these individuals, or a trust, pension or profit-sharing plan for these individuals;
·         An employer-sponsored retirement plan;
·         A trust institution investing on behalf of its trust customers;
·         A Federated Hermes Fund;
·         An investor, other than a natural person, purchasing Shares directly from the Fund;
·         An investor (including a natural person) who owned Shares as of December 31, 2008;
·         Without regard to the initial investment minimum, an investor who acquired Institutional and/or Wealth Shares pursuant to the terms of an agreement and plan of reorganization which permits the investor to acquire such Shares; and
·         Without regard to the initial investment minimum, in connection with an acquisition of an investment management or advisory business, or related investment services, products or assets, by Federated or its investment advisory subsidiaries, an investor (including a natural person) who (1) becomes a client of an investment advisory subsidiary of Federated or (2) is a shareholder or interest holder of a pooled investment vehicle or product that becomes advised or subadvised by a Federated investment advisory subsidiary as a result of such an acquisition other than as a result of a fund reorganization transaction pursuant to an agreement and plan of reorganization.

 

 
 

The principal underwriter and financial intermediaries may receive payments for distribution and/or administrative services under a Rule 12b-1 Plan and financial intermediaries may also receive shareholder service fees for services provided. In connection with this basic arrangement, Institutional and Wealth Shares will bear the following fees and expenses:

 

Fees and Expenses Maximum Amount Allocated Institutional and Wealth Shares
Sales Load None

Contingent Deferred

Sales Charge ("CDSC")

 

None

Shareholder Service Fee As set forth in the attached Schedule
12b-1 Fee As set forth in the attached Schedule
Other Expenses Itemized expenses incurred by the Fund with respect to holders of Institutional and/or Wealth Shares as described in Section 3 of the Plan

 

2.       Conversion and Exchange Privileges

 

For purposes of Rule 18f-3, Institutional and Wealth Shares have the following conversion rights and exchange privileges at the election of the shareholder:

 

Conversion Rights: At the election of the shareholder, Shares may be converted into any other Share Class of the same Fund, provided that the shareholder meets the eligibility requirements for the Share Class into which the conversion is sought, as applicable.
Exchange Privilege: Institutional and/or Wealth Shares may be exchanged into any Federated Hermes fund or share class that does not have a stated sales charge or contingent deferred sales charge, except Shares of Federated Hermes Institutional Money Market Management, Federated Hermes Institutional Prime Obligations Fund, Federated Hermes Institutional Tax-Free Cash Trust, Federated Hermes Institutional Prime Value Obligations Fund, Class A Shares of Federated Hermes Government Reserves Fund and Class R Shares of any Fund, provided that the shareholder meets any shareholder eligibility and minimum initial investment requirements for the Shares to be purchased, (if applicable), both accounts have identical registrations, and the shareholder receives a prospectus for the fund in which the shareholder wishes to exchange.

 

In any exchange, the shareholder shall receive shares having the same aggregate net asset value as the shares surrendered. Exchanges to any other Class shall be treated in the same manner as a redemption and purchase.

 

3.       REDEMPTION FEE.

 

For purposes of Rule 11a-3 under the Act, any redemption fee received upon the redemption or exchange of Institutional and/or Wealth Shares will be applied to fees incurred or amount expended in connection with such redemption or exchange. The balance of any redemption fees shall be paid to the Fund.

 

A Fund shall waive any redemption fee with respect to (i) non-participant directed redemptions or exchanges involving Institutional and/or Wealth Shares held in retirement plans established under Section 401(a) or 401(k) of the Internal Revenue Code (the “Code”), custodial plan accounts established under Section 493(b)(7) of the Code, or deferred compensation plans established under Section 457 of the Code; (ii) redemptions or exchanges involving Institutional and/or Wealth Shares held in plans administered as college savings programs under Section 529 of the Code; and (iii) Institutional and/or Wealth Shares redeemed due to the death of the last surviving shareholder on the account.

 
 

Schedule of Funds
Offering institutional Shares

 

The Funds set forth on this Schedule each offer Institutional Shares on the terms set forth in the Institutional/-Wealth Shares Exhibit to the Multiple Class Plan, in each case as indicated below. The 12b-1 fees indicated are the maximum amounts authorized based on the average daily net asset value. Actual amounts accrued may be less.

 

Multiple Class Company

Series

 12b-1 Fee

Shareholder

Service Fee

 Redemption Fee
       
Federated Hermes Adjustable Rate Securities Trust None None None
       
Federated Hermes Adviser Series      
Federated Hermes Emerging Markets Equity Fund 0.00% 0.25% None
Federated Hermes Absolute Return Credit Fund 0.00% 0.00% None
Federated Hermes Conservative Microshort Fund None None None
Federated Hermes Conservative Municipal Microshort Fund None None None
Federated Hermes Global Equity Fund None 0.00% None
Federated Hermes Global Small Cap Fund None 0.00% None
Federated Hermes International Developed Equity Fund None 0.25% None
Federated Hermes SDG Engagement Equity Fund 0.00% 0.00% None
Federated Hermes SDG Engagement High Yield Credit Fund 0.00% 0.25% None
Federated Hermes Unconstrained Credit Fund None 0.00% None
Federated Hermes US SMID Fund None None None
Federated Hermes International Equity Fund 0.00% 0.25% None
Federated Hermes International Growth Fund 0.00% 0.25% None
Federated Hermes MDT Large Cap Value Fund 0.00% 0.25% None
Federated Hermes MDT Market Neutral Fund 0.05% None None
Federated Hermes Equity Funds:      
Federated Hermes Absolute Return Credit Fund None None None
Federated Hermes Clover Small Value Fund None None None
Federated Hermes International Strategic Value Dividend Fund None None None
Federated Hermes Kaufmann Fund None None None
Federated Hermes Kaufmann Large Cap Fund None None None
Federated Hermes Kaufmann Small Cap Fund None None None
Federated Hermes MDT Mid Cap Growth Fund None None None
Federated Hermes Prudent Bear Fund None None None
Federated Hermes Strategic Value Dividend Fund None None None
       
Federated Hermes Equity Income Fund, Inc. None None None
       
Federated Hermes Fixed Income Securities, Inc.:      
Federated Hermes Municipal Ultrashort Fund None None None
Federated Hermes Strategic Income Fund None None None
       
Federated Hermes Global Allocation Fund None None None
       
Federated Hermes Government Income Trust None 0.25% None
Federated Hermes Government Income Securities, Inc. None None None
Federated Hermes High Income Bond Fund None None None
       
Federated Hermes High Yield Trust      
Federated Hermes Opportunistic High Yield Bond Fund None None None
       

Multiple Class Company

Series

 12b-1 Fee

Shareholder

Service Fee

 Redemption Fee
Federated Hermes Income Securities Trust:      
Federated Hermes Capital Income Fund None None None
Federated Hermes Floating Rate Strategic Income Fund None None None
Federated Hermes Fund for U.S. Government Securities None None None
Federated Hermes Intermediate Corporate Bond Fund None 0.25% None
Federated Hermes Muni and Stock Advantage Fund None None None
Federated Hermes Real Return Bond Fund None 0.25% None
Federated Hermes Short-Term Income Fund None None None
       
Federated Hermes Index Trust:      
Federated Hermes Max-Cap Index Fund None 0.25% None
Federated Hermes Mid-Cap Index Fund None None None
       
Federated Hermes Institutional Trust:      
Federated Hermes Government Ultrashort Fund None None None
Federated Hermes Short-Intermediate Total Return Bond Fund None None None
       
Federated Hermes International Series, Inc.      
Federated Hermes Global Total Return Bond Fund (formerly Federated International Bond Fund) None None None
       
Federated Hermes Investment Series Fund, Inc.      
Federated Hermes Corporate Bond Fund None None None
       
Federated Hermes MDT Series:      
Federated Hermes MDT All Cap Core Fund None None None
Federated Hermes MDT Balanced Fund None None None
Federated Hermes MDT Large Cap Growth Fund None None None
Federated Hermes MDT Small Cap Core Fund None None None
Federated Hermes MDT Small Cap Growth Fund None None None
       
Federated Hermes Municipal Bond Fund, Inc. None None None
       
Federated Hermes Municipal Securities Income Trust      
Federated Hermes Michigan Intermediate Municipal Trust None None None
Federated Hermes Municipal High Yield Advantage Fund None None None
Federated Hermes Ohio Municipal Income Fund None None None
Federated Hermes Pennsylvania Municipal Income Fund None None None
       
Federated Hermes Short-Intermediate Municipal Fund None 0.25% None
       
Federated Hermes Total Return Government Bond Fund None None None

 

 

 

      
Federated Hermes Total Return Series, Inc.:      

 

Federated Hermes Core Fund (formerly, Federated Hermes Select Total Return Bond Fund)

 None 0.25% None
Federated Hermes Total Return Bond Fund None None None
Federated Hermes Ultrashort Bond Fund None 0.25% None
       
Federated Hermes Short-Term Government Fund None 0.25% None
       
Federated Hermes Short-Intermediate Government Fund None 0.25% None

Multiple Class Company

Series

 12b-1 Fee

Shareholder

Service Fee

 Redemption Fee
       
Federated Hermes World Investment Series, Inc.      
Federated Hermes Emerging Market Debt Fund None None None
Federated Hermes International Leaders Fund None None None
Federated Hermes International Small-Mid Company Fund None None None
       
Federated Hermes Intermediate Municipal Trust:      
Federated Hermes Intermediate Municipal Fund None 0.25% None
       
Federated Hermes Money Market Obligations Trust:      
Federated Hermes Government Obligations Fund None 0.25% None
Federated Hermes Government Obligations Tax-Managed Fund None 0.25% None
Federated Hermes Institutional Money Market Management None 0.25% None
Federated Hermes Institutional Prime Obligations Fund None 0.25% None
Federated Hermes Institutional Tax-Free Cash Trust None 0.25% None
Federated Hermes Treasury Obligations Fund None 0.25% None
Federated Hermes Trust for U.S. Treasury Obligations None None None
Federated Hermes U.S. Treasury Cash Reserves None 0.25% None

 

 
 

 

Schedule of Funds
Offering WEALTH Shares

 

The Retail Money Market Funds set forth on this Schedule each offer Wealth Shares on the terms set forth in the Institutional/Wealth Shares Exhibit to the Multiple Class Plan, in each case as indicated below. The 12b-1 fees indicated are the maximum amounts authorized based on the average daily net asset value. Actual amounts accrued may be less.

 

Multiple Class Company

Series

 12b-1 Fee

Shareholder

Service Fee

 Redemption Fee
       
Federated Hermes Money Market Obligations Trust:      
Federated Hermes California Municipal Cash Trust None 0.25% None
Federated Hermes Municipal Obligations Fund None 0.25% None
Federated Hermes New York Municipal Cash Trust None 0.25% None
Federated Hermes Prime Cash Obligations Fund None 0.25% None
Federated Hermes Tax-Free Obligations Fund None 0.25% None

 

 
 

 

 

investment Shares Exhibit

To

Multiple Class Plan
(Revised 06/29/20)

 

1.       Separate Arrangement And Expense Allocation

 

For purposes of Rule 18f-3 under the Act, the basic distribution and shareholder servicing arrangement of the Investment Shares will consist of sales and shareholder servicing by financial intermediaries. Financial intermediaries may receive shareholder service fees for services provided. In connection with this basic arrangement, Investment Shares will bear the following fees and expenses:

 

Fees and Expenses Maximum Amount Allocated Investment Shares
Sales Load None
Contingent Deferred Sales Charge (“CDSC”) None
Shareholder Service Fee Up to 25 basis points (0.25%) of the average daily net asset value
12b-1 Fee As set forth in the attached Schedule
Other Expenses Itemized expenses incurred by the Fund with respect to holders of Investment Shares as described in Section 3 of the Plan

 

2.       Conversion and Exchange Privileges

 

For purposes of Rule 18f-3, Investment Shares have the following conversion rights and exchange privileges at the election of the shareholder:

 

Conversion Rights: At the election of the shareholder, Shares may be converted into any other Share Class of the same Fund, provided that the shareholder meets the eligibility requirements for the Share Class into which the conversion is sought, as applicable.
Exchange Rights: Investment Shares may be exchanged into any Federated Hermes fund or share class that does not have a stated sales charge or contingent deferred sales charge, except Shares of Federated Hermes Institutional Money Market Management, Federated Hermes Institutional Prime Obligations Fund, Federated Hermes Institutional Tax-Free Cash Trust, Federated Hermes Institutional Prime Value Obligations Fund, Class A Shares of Federated Hermes Government Reserves Fund and Class R Shares of any Fund, provided that the shareholder meets any shareholder eligibility and minimum initial investment requirements for the Shares to be purchased, (if applicable), both accounts have identical registrations, and the shareholder receives a prospectus for the fund in which the shareholder wishes to exchange.

 

In any exchange, the shareholder shall receive shares having the same aggregate net asset value as the shares surrendered. Exchanges to any other Class shall be treated in the same manner as a redemption and purchase.

 
 

Schedule of Funds

Offering Investment Shares

 

The Funds set forth on this Schedule each offer Investment Shares on the terms set forth in the Investment Shares Exhibit to the Multiple Class Plan.

 

 

 

Multiple Class Company

Series

 12b-1 Fee
   
Federated Hermes Money Market Obligations Trust:  
Federated Hermes Municipal Obligations Fund 0.25%

 

 

 
 

 

CLASS P Shares Exhibit

To

Multiple Class Plan

(revised 6/29/20)

 

1.       Separate Arrangement And Expense Allocation

 

For purposes of Rule 18f-3 under the Act, the basic distribution and shareholder servicing arrangement of the Class P Shares will consist of sales and shareholder servicing by financial intermediaries. Financial intermediaries may receive shareholder service fees for services provided. In connection with this basic arrangement, Automated Shares will bear the following fees and expenses:

 

Fees and Expenses Maximum Amount Allocated Class P Shares
Sales Load None

Contingent Deferred

Sales Charge ("CDSC")

 

None

Shareholder Service Fee Up to 25 basis points (0.25%) of the average daily net asset value
Recordkeeping Fee Up to 10 basis points (0.10%) of the average daily net asset value
12b-1 Fee None
Other Expenses Itemized expenses incurred by the Fund with respect to holders of Class P Shares as described in Section 3 of the Plan

 

2.       Conversion and Exchange Privileges

 

For purposes of Rule 18f-3, Class P Shares have the following conversion rights and exchange privileges at the election of the shareholder:

 

Conversion Rights: None.
Exchange Privileges: Class P Shares may only be exchanged into Federated Hermes Capital Reserves Fund, provided that the shareholder meets any shareholder eligibility and minimum initial investment requirements for the Shares to be purchased, (if applicable), both accounts have identical registrations, and the shareholder receives a prospectus for the fund in which the shareholder wishes to exchange.

 

In any exchange, the shareholder shall receive shares having the same aggregate net asset value as the shares surrendered, after the payment of any redemption fees to the Fund. Exchanges shall be treated in the same manner as a redemption and purchase.

 

 
 

Schedule of Funds
Offering Class P Shares

 

The Funds set forth on this Schedule each offer Class P Shares on the terms set forth in the Class P Shares Exhibit to the Multiple Class Plan.

 

Multiple Class Company

Series

 
Federated Hermes Money Market Obligations Trust
  Federated Hermes Government Reserves Fund

 

 
 

 

 

PREMIER Shares Exhibit

To

Multiple Class Plan

(Revised as of 6/29/20)

 

1.       Separate Arrangement And Expense Allocation

 

For purposes of Rule 18f-3 under the Act, the basic distribution and shareholder servicing arrangement of the Premier Shares will consist of sales and shareholder servicing by financial intermediaries. The principal underwriter and financial intermediaries may receive payments for distribution and/or administrative services under a Rule 12b-1 Plan and financial intermediaries may also receive shareholder service fees for services provided. In connection with this basic arrangement, Premier Shares will bear the following fees and expenses:

 

Fees and Expenses Maximum Amount Allocated Premier Shares
Sales Load None

Contingent Deferred

Sales Charge ("CDSC")

 None
Shareholder Service Fee Up to 25 basis points (0.25%) of the average daily net asset value
12b-1 Fee As set forth in the attached Schedule
Other Expenses Itemized expenses incurred by the Fund with respect to holders of Premier Shares as described in Section 3 of the Plan

 

2.       Conversion and Exchange Privileges

 

For purposes of Rule 18f-3, Premier Shares have the following conversion rights and exchange privileges at the election of the shareholder:

Conversion Rights: At the election of the shareholder, Shares may be converted into any other Share Class of the same Fund, provided that the shareholder meets the eligibility requirements for the Share Class into which the conversion is sought, as applicable.
Exchange Privilege: Premier Shares may be exchanged into any Federated Hermes fund or share class that does not have a stated sales charge or contingent deferred sales charge, except Shares of Federated Hermes Institutional Money Market Management, Federated Hermes Institutional Prime Obligations Fund, Federated Hermes Institutional Tax-Free Cash Trust, Federated Hermes Institutional Prime Value Obligations Fund, Class A Shares of Federated Hermes Government Reserves Fund and Class R Shares of any Fund, provided that the shareholder meets any shareholder eligibility and minimum initial investment requirements for the Shares to be purchased, (if applicable), both accounts have identical registrations, and the shareholder receives a prospectus for the fund in which the shareholder wishes to exchange.

An exchange will be treated as a redemption and a subsequent purchase, and will be a taxable transaction. Exchange privileges may be modified or terminated at any time.

 

Schedule of Funds

Offering PREMIER Shares

 

The Funds set forth on this Schedule each offer Premier Shares on the terms set forth in the Premier Shares Exhibit to the Multiple Class Plan, in each case as indicated below. The 12b-1 fees indicated are the maximum amounts authorized based on the average daily net asset value. Actual amounts accrued may be less.

 

Multiple Class Company

Series

 12b-1 Fee
   

Federated Hermes Money Market Obligations Trust:

Federated Hermes Government Obligations Fund

 

None

Federated Hermes Institutional Tax-Free Cash Trust None

 

 
 

 

 

Primary Shares Exhibit

To

Multiple Class Plan

(REVISED 6/29/2020)

 

1.       Separate Arrangement And Expense Allocation

 

Primary Shares are available exclusively as an investment vehicle for separate accounts of participating life insurance companies offering variable life insurance policies and variable annuity contracts. For purposes of Rule 18f-3 under the Act, the basic distribution and shareholder servicing arrangement of the Primary Shares will consist of institutional sales to insurance companies for Primary Share inclusion in those variable life and variable annuity product separate accounts. The insurance company distributor, underwriter or affiliated entity may provide shareholder services and receive a shareholder service fee for their services. In connection with this basic arrangement, Primary Shares will bear the following fees and expenses:

Fees and Expenses Maximum Amount Allocated Primary Shares
Sales Load None
Contingent Deferred Sales Charge ("CDSC") None
Shareholder Service Fee Up to 25 basis points (0.25%) of the average daily net asset value
12b-1 Fee As set forth in the attached Schedule
Other Expenses Itemized expenses incurred by the Fund with respect to holders of Primary Shares as described in Section 3 of the Plan

 

2.       Conversion and Exchange Privileges

 

For purposes of Rule 18f-3, Primary Shares have the following conversion rights and exchange privileges at the election of the shareholder:

Conversion Rights: At the election of the shareholder, Shares may be converted into any other Share Class of the same Fund, provided that the shareholder meets the eligibility requirements for the Share Class into which the conversion is sought, as applicable.
Exchange Privileges: None.

 

 
 

 

 

Schedule of Funds

Offering Primary Shares

 

The Funds set forth on this Schedule each offer Primary Shares on the terms set forth in the Primary Shares Exhibit to the Multiple Class Plan.

 

Multiple Class Company

Series

 12b-1 Fee
   
Federated Hermes Insurance Series:  
Federated Hermes Managed Volatility Fund II 0.25%
Federated Hermes High Income Bond Fund II None
Federated  Hermes Kaufmann Fund II 0.25%
Federated Hermes Government Money Fund II 0.25%
Federated Hermes Quality Bond Fund II 0.25%

 

 

 
 

 

Class R Shares Exhibit

To

Multiple Class Plan

(revised 09/01/20)

 

 

1.       Separate Arrangement And Expense Allocation

 

For purposes of Rule 18f-3 under the Act, the basic distribution and shareholder servicing arrangement for the Class R Shares will consist of:

 

(i)       Excepting Federated Hermes Kaufmann Fund, sales by financial intermediaries to retirement plans, with shareholder services provided by the retirement plan record keepers; and

 

(ii)  with respect to the Federated Hermes Kaufmann Fund, (a) sales by financial intermediaries to retirement plans; (b) the issuance of Class R Shares as provided in the Plan of Reorganization between the Federated Hermes Kaufmann Fund and the Kaufmann Fund; (c) additional investments by former Kaufmann Fund shareholders and related persons; and (d) shareholder services provided by financial intermediaries..

 

Financial intermediaries and the principal underwriter may receive payments for distribution and/or administrative services under a Rule 12b-1 Plan, in addition, financial intermediaries may receive shareholder service fees for services provided. In connection with this basic arrangement, Class R Shares will bear the following fees and expenses:

 

Fees and Expenses Maximum Amount Allocated Class R Shares
Sales Load None

Contingent Deferred Sales

Charge ("CDSC")

 None
Redemption Fee As set forth in the attached Schedule.
Shareholder Service Fee As set forth in the attached Schedule
12b-1 Fee As set forth in the attached Schedule
Other Expenses Itemized expenses incurred by the Fund with respect to holders of Class R Shares as described in Section 3 of the Multiple Class Plan

 

 
 

2.       Conversion and Exchange Privileges

 

For purposes of Rule 18f-3, Class R Shares have the following conversion rights and exchange privileges at the election of the shareholder:

 

Conversion Rights: Excepting Federated Hermes Kaufmann Fund, at the election of the shareholder, Shares may be converted into any other Share Class of the same Fund, provided that the shareholder meets the eligibility requirements for the Share Class into which the conversion is sought, as applicable.
Exchange Privilege:

With respect to the Federated Hermes Kaufmann Fund, shareholders who are former shareholders of the Federated Hermes Kaufmann Fund, Inc. and their immediate family members or shareholders who have purchased shares through the financial intermediary relationships that existed for the Kaufmann Fund may exchange their Class R Shares for Class A Shares of any other fund. Investors who are eligible to purchase Class R Shares (e.g. 401(k) plans, 457 plans, employer sponsored 403(b) plans, profit sharing and money purchase pension plans, defined benefit plans, non-qualified deferred compensation plans and IRA rollovers from such plans, directly or through financial intermediaries as well as IRAs and investment – only 403(b) plans held through financial intermediaries may exchange their Class R Shares into Class R Shares of any other Fund. A Grandfathered Shareholder may exchange into Class R Shares of another Fund only if such shareholder is an eligible investor in the Class R Shares of that Fund.

With respect to the other funds, Class R Shares may be exchanged for Class R Shares, including the Kaufmann Fund.

 

In any exchange, the shareholder shall receive shares having the same aggregate net asset value as the shares surrendered, after the payment of any redemption fees to the Fund. Exchanges to any other Class shall be treated in the same manner as a redemption and purchase.

 

3.       Redemption Fee

 

For purposes of Rule 11a-3 under the Act, any redemption fee received upon the redemption or exchange of Class R Shares will be applied to fees incurred or amounts expended in connection with such redemption or exchange. The balance of any redemption fees shall be paid to the Fund.

A Fund shall waive any redemption fee with respect to Class R Shares redeemed or exchange by employer-sponsored retirement plans.

 
 

Schedule of Funds

Offering Class R Shares

 

The Funds set forth on this Schedule each offer Class R Shares on the terms set forth in the Class R Shares Exhibit to the Multiple Class Plan, in each case as indicated below. The 12b-1 fees indicated are the maximum amounts authorized based on the average daily net asset value. Actual amounts accrued may be less.

 

Multiple Class Company
Series		 12b-1 Fee Shareholder Services Fee Redemption Fee
       
Federated Hermes Adviser Series      
Federated Hermes MDT Large Cap Value Fund 0.50% None None
       
Federated Hermes Equity Funds:      
Federated Hermes Kaufmann Fund 0.50% 0.25% None
Federated Hermes Kaufmann Small Cap Fund 0.50% None None
       
Federated Hermes Equity Income Fund, Inc. 0.50% None None
       
Federated Hermes Income Securities Trust      
Federated Hermes Capital Income Fund 0.50% None None
       
Federated Hermes Index Trust:      
Federated Hermes Max-Cap Index Fund 0.50% None None
       
Federated Hermes Short-Intermediate Government Fund 0.50% None None
       
Federated Hermes Money Market Obligations Trust:      
Federated Hermes Prime Cash Obligations Fund 0.50% 0.25% None
       
Federated Hermes World Investment Series, Inc.      
Federated Hermes International Leaders Fund 0.50% None None
       

 

 
 

 

CLASS R6 Shares Exhibit

To

Multiple Class Plan

(revised as of 06/1/21)

 

1.       Separate Arrangement And Expense Allocation

 

For purposes of Rule 18f-3 under the Act, the basic distribution and shareholder servicing arrangement of the Class R6 Shares will consist of:

 

(i) sales and shareholder servicing by financial intermediaries to the following categories of investors (“Eligible Investors”):

 

·                                             An investor participating in a no-load platform, network or other fee-based program offered by a financial intermediary, for example, a wrap account or retirement platform, where Federated has entered into an agreement with the intermediary;
·                                             A trustee/director, employee or former employee of the Fund, the Adviser, the Distributor and their affiliates; an immediate family member of these individuals, or a trust, pension or profit-sharing plan for these individuals;
·                                             An employer-sponsored retirement plan;
·                                             A trust institution investing on behalf of its trust customers;
·                                             An investor, other than a natural person, purchasing Shares directly from the Fund;
·                                             A Federated Fund;
·                                             An investor (including a natural person) who acquired R6 Shares pursuant to the terms of an agreement and plan of reorganization which permits the investor to acquire such Shares; and
·                                             In connection with an acquisition of an investment management or advisory business, or related investment services, products or assets, by Federated or its investment advisory subsidiaries, an investor (including a natural person) who (1) becomes a client of an investment advisory subsidiary of Federated or (2) is a shareholder or interest holder of a pooled investment vehicle or product that becomes advised or subadvised by a Federated investment advisory subsidiary as a result of such an acquisition other than as a result of a fund reorganization transaction pursuant to an agreement and plan of reorganization.

 

In connection with this arrangement, Class R6 Shares will bear the following fees and expenses:

 

Fees and Expenses Maximum Amount Allocated R6 Shares
Sales Load None
Contingent Deferred Sales Charge ("CDSC") None
Shareholder Service Fee None
Redemption Fee None
12b-1 Fee None
Other Expenses Itemized expenses incurred by the Fund with respect to holders of Class R6 Shares.

 

2.       Conversion and Exchange Privileges

 

For purposes of Rule 18f-3, Class R6 Shares have the following conversion rights and exchange privileges at the election of the shareholder:

 

Conversion Rights: At the election of the shareholder, Shares may be converted into any other Share Class of the same Fund, provided that the shareholder meets the eligibility requirements for the Share Class into which the conversion is sought, as applicable.
Exchange Privileges: Class R6 Shares may be exchanged into any Federated Hermes fund or share class that does not have a stated sales charge or contingent deferred sales charge, except Shares of Federated Hermes Institutional Money Market Management, Federated Hermes Institutional Prime Obligations Fund, Federated Hermes Institutional Tax-Free Cash Trust, Federated Hermes Institutional Prime Value Obligations Fund, Class A Shares of Federated Hermes Government Reserves Fund and Class R Shares of any Fund, provided that the shareholder meets any shareholder eligibility and minimum initial investment requirements for the Shares to be purchased, (if applicable), both accounts have identical registrations, and the shareholder receives a prospectus for the fund in which the shareholder wishes to exchange.

In any exchange, the shareholder shall receive shares having the same aggregate net asset value as the shares surrendered, after the payment of any redemption fees to the Fund. Exchanges to any other Class shall be treated in the same manner as a redemption and purchase.

 

 

 

 

 

 

(schedule of funds listed on next page)

 

 
 

 

Schedule of Funds

Offering CLASS R6 Shares

 

The Funds set forth on this Schedule each offer Class R6 Shares on the terms set forth in the Class R6 Shares Exhibit to the Multiple Class Plan.

 

 

Multiple Class Company

Series

   
  Federated Hermes Adviser Series
Federated Hermes Emerging Markets Equity Fund
Federated Hermes Absolute Return Credit Fund
Federated Hermes Global Equity Fund
Federated Hermes Global Small Cap Fund
Federated Hermes International Developed Equity Fund
Federated Hermes SDG Engagement Equity Fund
Federated Hermes SDG Engagement High Yield Credit Fund
Federate Hermes Unconstrained Credit Fund
Federated Hermes US SMID Fund
Federated Hermes International Equity Fund
Federated Hermes International Growth Fund
Federated Hermes MDT Large Cap Value Fund
 
  Federated Hermes Equity Funds
    Federated Hermes Clover Small Value Fund
    Federated Hermes International Strategic Value Dividend Fund
    Federated Hermes Kaufmann Large Cap Fund
    Federated Hermes Kaufmann Small Cap Fund
    Federated Hermes MDT Mid Cap Growth Fund
    Federated Hermes Strategic Value Dividend Fund
   
  Federated Hermes Fixed Income Securities, Inc.
    Federated Hermes Municipal Ultrashort Fund
    Federated Hermes Strategic Income Fund
   
  Federated Hermes Global Allocation Fund
   
  Federated Hermes High Income Bond Fund, Inc.
   
  Federated Hermes High Yield Trust
  Federated Hermes Opportunistic High Yield Bond Fund
   
  Federated Hermes Income Securities Trust
  Federated Hermes Floating Rate Strategic Income Fund
  Federated Hermes Short-Term Income Fund
   
  Federated Hermes Index Trust
  Federated Hermes Mid-Cap Index Fund
   
  Federated Hermes Institutional Trust
  Federated Hermes Government Ultrashort Fund
  Federated Hermes Institutional High Yield Bond Fund
  Federated Hermes Short-Intermediate Total Return Bond Fund
   
  Federated Hermes Investment Series Funds, Inc.
  Federated Hermes Corporate Bond Fund
   
  Federated Hermes MDT Series
  Federated Hermes MDT Small Cap Core Fund
  Federated Hermes MDT Small Cap Growth Fund
  Federated Hermes MDT All Cap Core Fund
  Federated Hermes MDT Balanced Fund
   
  Federated Hermes Total Return Government Bond Fund
   
  Federated Hermes Total Return Series, Inc.
  Federated Hermes Core Bond Fund (formerly, Federated Hermes Select Total Return Bond Fund)
  Federated Hermes Total Return Bond Fund
  Federated Hermes Ultrashort Bond Fund
   
  Federated Hermes World Investment Series, Inc.
  Federated Hermes International Leaders Fund
   

 

 

 

 

 

 

 

 

 
 

 

retirement Shares Exhibit

To

Multiple Class Plan

(Revised 6/29/20)

 

1.       Separate Arrangement And Expense Allocation

 

For purposes of Rule 18f-3 under the Act, the basic distribution and shareholder servicing arrangement for the Retirement Shares will consist of sales and shareholder servicing by financial intermediaries. Financial intermediaries may receive a shareholder service fee for services provided. In connection with this basic arrangement, Retirement Shares will bear the following fees and expenses:

 

Fees and Expenses Maximum Amount Allocated Retirement Shares
Sales Load None
Contingent Deferred Sales Charge ("CDSC") None
Shareholder Service Fee Up to 25 basis points (0.25%) of the average daily net asset value
12b-1 Fee None
Other Expenses Itemized expenses incurred by the Fund with respect to holders of Retirement Shares as described in Section 3 of the Plan

 

2.       Conversion and Exchange Privileges

 

For purposes of Rule 18f-3, Retirement Shares have the following conversion rights and exchange privileges at the election of the shareholder:

 

Conversion Rights: At the election of the shareholder, Shares may be converted into any other Share Class of the same Fund, provided that the shareholder meets the eligibility requirements for the Share Class into which the conversion is sought, as applicable.
Exchange Privilege: ·                                           Retirement Shares may be exchanged into any Federated Hermes fund or share class that does not have a stated sales charge or contingent deferred sales charge, except Shares Federated Hermes Institutional Money Market Management, Federated Hermes Institutional Prime Obligations Fund, Federated Hermes Institutional Tax-Free Cash Trust, Federated Hermes Institutional Prime Value Obligations Fund, Class A Shares of Federated Hermes Government Reserves Fund and Class R Shares of any Fund, provided that the shareholder meets any shareholder eligibility and minimum initial investment requirements for the Shares to be purchased, (if applicable), both accounts have identical registrations, and the shareholder receives a prospectus for the fund in which the shareholder wishes to exchange..

 

In any exchange, the shareholder shall receive shares having the same aggregate net asset value as the shares surrendered. Exchanges to any other Class shall be treated in the same manner as a redemption and purchase.

 
 

Schedule of Funds

Offering retirement Shares

 

The Funds set forth on this Schedule each offer Retirement Shares on the terms set forth in the Retirement Shares Exhibit to the Multiple Class Plan:

 

Multiple Class Company Series
   
None  

 

 
 

 

SELECT Shares Exhibit

To

Multiple Class Plan

(Revised 06/29/2020)

 

1.       SEPARATE ARRANGEMENT AND EXPENSE ALLOCATION

 

For purposes of Rule 18f-3 under the Act, the basic distribution and shareholder servicing arrangement of the Select Shares will consist of sales and shareholder servicing by financial intermediaries. Financial intermediaries may receive shareholder service fees for services provided. In connection with this basic arrangement, Select Shares will bear the following fees and expenses:

 

Fees and Expenses Maximum Amount Allocated Select Shares
Sales Load None
Contingent Deferred Sales Charge ("CDSC") None
Shareholder Service Fee Up to 25 basis points (0.25%) of the average daily net asset value
12b-1 Fee None
Other Expenses Itemized expenses incurred by the Fund with respect to holders of Select Shares as described in Section 3 of the Plan

 

2.       CONVERSION AND EXCHANGE PRIVILEGES

 

For purposes of Rule 18f-3, Select Shares have the following conversion rights and exchange privileges at the election of the shareholder:

 

Conversion Rights: At the election of the shareholder, Shares may be converted into any other Share Class of the same Fund, provided that the shareholder meets the eligibility requirements for the Share Class into which the conversion is sought, as applicable.
Exchange Privilege: Select Shares may be exchanged into any Federated Hermes fund or share class that does not have a stated sales charge or contingent deferred sales charge, except Shares of Federated Hermes Institutional Money Market Management, Federated Hermes Institutional Prime Obligations Fund, Federated Hermes Institutional Tax-Free Cash Trust, Federated Hermes Institutional Prime Value Obligations Fund, Class A Shares of Federated Hermes Government Reserves Fund and Class R Shares of any Fund, provided that the shareholder meets any shareholder eligibility and minimum initial investment requirements for the Shares to be purchase (if applicable), both accounts have identical registrations, and the shareholder receives a prospectus for the fund in which the shareholder wishes to exchange.

 

In any exchange, the shareholder shall receive shares having the same aggregate net asset value as the shares surrendered. Exchanges to any other fund or class shall be treated in the same manner as a redemption and purchase.

 

 

SCHEDULE OF FUNDS

OFFERING SELECT SHARES

 

Multiple Class Company

Series

 
Federated Hermes Money Market Obligations Trust
     Federated Hermes Government Obligations Fund

 

 

 

 

 

 

 

 

 

 
 

 

 

Service Shares Exhibit

To

Multiple Class Plan
(revised 6/1/2021)

 

1.       Separate Arrangement And Expense Allocation

 

With respect to Funds other than portfolios of Federated Insurance Series, for purposes of Rule 18f-3 under the Act, the basic distribution and shareholder servicing arrangement of the Service Shares will consist of

 

(i) with respect to money market funds, sales and shareholder servicing by financial intermediaries; and
   
(ii) with respect to fluctuating NAV funds, sales and shareholder servicing by financial intermediaries to the following categories of investors (“Eligible Investors”);

 

·                                             An investor participating in a wrap program or other fee-based program sponsored by a financial intermediary;
·                                             An investor participating in a no-load network or platform sponsored by a financial intermediary where Federated has entered into an agreement with the intermediary;
·                                             A trustee/director, employee or former employee of the Fund, the Adviser, the Distributor and their affiliates; an immediate family member of these individuals, or a trust, pension or profit-sharing plan for these individuals;
·                                             An employer-sponsored retirement plan;
·                                             A trust institution investing on behalf of its trust customers;
·                                             A Federated Fund;
·                                             An investor, other than a natural person, purchasing Shares directly from the Fund;
·                                             An investor (including a natural person) who owned Shares as of December 31, 2008;
·                                             Without regard to the initial investment minimum, an investor who acquired Service Shares pursuant to the terms of an agreement and plan of reorganization which permits the investor to acquire such Shares; and
·                                             Without regard to the initial investment minimum, in connection with an acquisition of an investment management or advisory business, or related investment services, products or assets, by Federated or its investment advisory subsidiaries, an investor (including a natural person) who (1) becomes a client of an investment advisory subsidiary of Federated or (2) is a shareholder or interest holder of a pooled investment vehicle or product that becomes advised or subadvised by a Federated investment advisory subsidiary as a result of such an acquisition other than as a result of a fund reorganization transaction pursuant to an agreement and plan of reorganization.

 

The principal underwriter and financial intermediaries may receive payments for distribution and/or administrative services under a Rule 12b-1 Plan and financial intermediaries may also receive shareholder service fees for services provided.

 

With respect to portfolios of Federated Hermes Insurance Series, Service Shares are available exclusively as an investment vehicle for separate accounts of participating life insurance companies offering variable life insurance policies and variable annuity contracts. For purposes of Rule 18f-3 under the Act, the basic distribution and shareholder servicing arrangement of Service Shares will consist of institutional sales to insurance companies for Service Share inclusion in those variable life insurance and annuity product separate accounts. The insurance company distributor, underwriter or other affiliated entity may provide shareholder services and receive a shareholder service fee for their services and when indicated on the Schedule to this Exhibit, may also receive payments for distribution and/or administrative services under a 12b-1 Plan.

In connection with these basic arrangements, Service Shares will bear the following fees and expenses:

Fees and Expenses Maximum Amount Allocated Service Shares
Sales Load None
Contingent Deferred Sales Charge ("CDSC") None
Shareholder Service Fee Up to 25 basis points (0.25%) of the average daily net asset value
12b-1 Fee As set forth in the attached Schedule
Other Expenses Itemized expenses incurred by the Fund with respect to holders of Service Shares as described in Section 3 of the Plan

 

2.       Conversion and Exchange Privileges

For purposes of Rule 18f-3, Service Shares have the following conversion rights and exchange privileges at the election of the shareholder:

Conversion Rights: At the election of the shareholder, Shares may be converted into any other Share Class of the same Fund, provided that the shareholder meets the eligibility requirements for the Share Class into which the conversion is sought, as applicable.
Exchange Privileges:

For Funds other than portfolios of Federated Hermes Insurance Series, Service Shares may be exchanged for exchanged into any Federated Hermes fund or share class that does not have a stated sales charge or contingent deferred sales charge, except Shares of Federated Hermes Institutional Money Market Management, Federated Hermes Institutional Prime Obligations Fund, Federated Hermes Institutional Tax-Free Cash Trust, Federated Hermes Institutional Prime Value Obligations Fund, Class A Shares of Federated Hermes Government Reserves Fund and Class R Shares of any Fund, provided that the shareholder meets any shareholder eligibility and minimum initial investment requirements for the Shares to be purchased, (if applicable), both accounts have identical registrations, and the shareholder receives a prospectus for the fund in which the shareholder wishes to exchange. Service Shares may also be exchanged for shares of Investment Companies that are not subject to this Plan, as provided in the "Proprietary Fund Schedule" attached hereto.

With respect to portfolios of Federated Hermes Insurance Series: None

 

In any exchange, the shareholder shall receive shares having the same aggregate net asset value as the shares surrendered, unless Class A Shares or Class F Shares which are subject to a CDSC are being exchanged, in which case the CDSC fee will be imposed as if the Class A Shares or Class F Shares had been redeemed. Exchanges to any other Class shall be treated in the same manner as a redemption and purchase.

 
 

Schedule of Funds
Offering Service Shares

 

The Funds set forth on this Schedule each offer Service Shares on the terms set forth in the Service Shares Exhibit to the Multiple Class Plan, in each case as indicated below. The 12b-1 fees indicated are the maximum amounts authorized based on the average daily net asset value. Actual amounts accrued may be less.

Multiple Class Company
Series		 12b-1 Fee
   
Federated Hermes Adjustable Rate Securities Fund None
   
Federated Hermes Adviser Series  
Federated Hermes MDT Large Cap Value Fund None
   
   
Federated Hermes High Yield Trust None
   
Federated Hermes Government Income Fund 0.05%
   
Federated Hermes Income Securities Trust:  
Federated Hermes Intermediate Corporate Bond Fund 0.25%
Federated Hermes Short-Term Income Fund None
   
Federated Hermes Index Trust  
Federated Hermes Max-Cap Index Fund 0.30%
Federated Hermes Mid-Cap Index Fund None
   
Federated Hermes Institutional Trust:  
Federated Hermes Government Ultrashort Fund 0.05%
Federated Hermes Short-Intermediate Total Return Bond Fund 0.00%
   
Federated Hermes Insurance Series:  
Federated Hermes Managed Volatility Fund II 0.25%
Federated Hermes High Income Bond Fund II 0.25%
Federated Hermes Kaufmann Fund II 0.25%
Federated Hermes Quality Bond Fund II 0.25%
Federated Hermes Government Money Fund II None
   
Federated Short-Intermediate Municipal Fund None
   
Federated Hermes Total Return Government Bond Fund 0.25%
   
Federated Hermes Total Return Series, Inc.:  
Federated Hermes Total Return Bond Fund 0.25%
Federated Hermes Ultrashort Bond Fund None
   
Federated Hermes Intermediate Municipal Trust  
Federated Hermes Intermediate Municipal Fund None
   
Multiple Class Company
Series		 12b-1 Fee
   
Federated Hermes Short-Term Government Fund 0.25%
   
Federated Hermes Short-Intermediate Government Fund 0.05%
   
Federated Hermes Money Market Obligations Trust:  
Federated Hermes California Municipal Cash Trust None
Federated Hermes Government Obligations Fund None
Federated Hermes Government Obligations Tax-Managed Fund None
Federated Hermes Institutional Money Market Management None
 Federated Hermes Institutional Prime Obligations Fund None
Federated Hermes Institutional Prime Value Obligations Fund None
Federated Hermes Municipal Obligations Fund None
Federated Hermes New York Municipal Cash Trust 0.25%
Federated Hermes Prime Cash Obligations Fund None
Federated Hermes Tax-Free Obligations Fund None
Federated Hermes Treasury Obligations Fund None
Federated Hermes U.S. Treasury Cash Reserves 0.25%

 

 

 
 

Proprietary fund schedule -
service shares

 

Shares issued by investment companies that are not party to this Plan but that are listed on this Proprietary Fund Schedule ("Non-Plan Investment Companies") may be exchanged for Service Shares of the Funds indicated opposite their names. Such Service Shares may also be exchanged back into shares of the original Non-Plan Investment Company. In addition, indicated Service Shares purchased from a dealer party to a Dealer Agreement to sell the indicated Non-Plan Investment Company Shares may be exchanged for Shares of such Non-Plan Investment Company. In any exchange, the shareholder shall receive shares having the same aggregate net asset value as the shares surrendered. Exchanges into any class of shares of a Non-Plan Investment Company not shown on this schedule shall be treated in the same manner as a redemption and purchase.

Multiple Class Series/Company Non-Plan Investment Companies
   

 

 

Class T Shares Exhibit

To

Multiple Class Plan

(Revised (12/1/20)

 

1.       SEPARATE ARRANGEMENT AND EXPENSE ALLOCATION

 

For purposes of Rule 18f-3 under the Act, the basic distribution and shareholder servicing arrangement of the Class T Shares will consist of sales and shareholder servicing by financial intermediaries in consideration of the payment of the applicable sales load (“dealer reallowance”) and a shareholder service fee. In connection with this basic arrangement, Class T Shares will bear the following fees and expenses:

 

Fees and Expenses Maximum Amount Allocated Class T Shares
Sales Load Up to 2.50% of the public offering price
Contingent Deferred Sales Charge ("CDSC") None
Shareholder Service Fee Up to 25 basis points (0.25%) of the average daily net asset value
12b-1 Fee None
Redemption Fee As set forth in the attached Schedule
Other Expenses Itemized expenses incurred by the Fund with respect to holders of Class T Shares as described in Section 3 of the Plan

 

2.       CONVERSION AND EXCHANGE PRIVILEGES

 

For purposes of Rule 18f-3, Class T Shares have the following conversion rights and exchange privileges at the election of the shareholder:

 

Conversion Rights: At the election of the shareholder, Shares may be converted into any other Share Class of the same Fund, provided that the shareholder meets the eligibility requirements for the Share Class into which the conversion is sought, as applicable, and that no CDSC on the original shares purchased is owed.
Exchange Privilege: None  

 

3.       EXCEPTIONS TO BASIC ARRANGEMENTS

 

For purposes of Rules 22d-1 and 6c-10 under the Act, unless otherwise specified on the Schedule to this Exhibit, the scheduled variations in sales loads and contingent deferred sales charges are as follows:

 

(A)       BASIC SALES LOAD SCHEDULE

 

The basic schedule of sales loads for Class T Shares of Funds so designated on the Schedule to this Exhibit is as follows:

 

Transaction Amount

Sales Load as a Percentage of

Public Offering Price

Less than $250,000 2.50%
$250,000 but less than $500,000 2.00%
$500,000 but less than $1 million 1.50%
$1 million or greater 1.00%

 

4.       REDEMPTION FEE

 

For purposes of Rule 11a-3 under the Act, any redemption fee received upon the redemption or exchange of Class T Shares will be applied to fees incurred or amount expended in connection with such redemption or exchange. The balance of any redemption fees shall be paid to the Fund.

 

A Fund shall waive any redemption fee with respect to (i) non-participant directed redemptions or exchanges involving Class T Shares held in retirement plans established under Section 401(a) or 401(k) of the Internal Revenue Code (the “Code”), custodial plan accounts established under Section 493(b)(7) of the Code, or deferred compensation plans established under Section 457 of the Code; (ii) redemptions or exchanges involving Class T Shares held in plans administered as college savings programs under Section 529 of the Code; and (iii) Class T Shares redeemed due to the death of the last surviving shareholder on the account.

 
 

Schedule of Funds
Offering Class T Shares

 

The Funds set forth on this Schedule each offer Class T Shares on the terms set forth in the Class T Shares Exhibit to the Multiple Class Plan, in each case as indicated below. Actual amounts accrued may be less.

 

1.       CLASS A SHARES SUBJECT TO THE BASIC LOAD SCHEDULE

 

Multiple Class Company

Series

Redemption

Fee

 

Class T Shares were discontinued on 11-30-20.

 

  

 

 

 

 

 

 

 
 

 

 

trust Shares Exhibit

To

Multiple Class Plan

(Revised 06/29/20)

 

1.       Separate Arrangement And Expense Allocation

 

For purposes of Rule 18f-3 under the Act, the basic distribution arrangement for the Trust Shares will consist of sales by financial intermediaries, who, along with the principal underwriter, may receive payments for distribution and/or administrative services under a 12b-1 Plan. In connection with this basic arrangement, Trust Shares will bear the following fees and expenses:

 

Fees and Expenses Maximum Amount Allocated Trust Shares
Sales Load None
Contingent Deferred Sales Charge ("CDSC") None
Shareholder Service Fee Up to 25 basis points (0.25%) of the average daily net asset value
12b-1 Fee As set forth in the attached Schedule
Other Expenses Itemized expenses incurred by the Fund with respect to holders of Trust  Shares as described in Section 3 of the Multiple Class Plan

 

2.       Conversion and Exchange Privileges

 

For purposes of Rule 18f-3, Trust Shares have the following conversion rights and exchange privileges at the election of the shareholder:

 

Conversion Rights: At the election of the shareholder, Shares may be converted into any other Share Class of the same Fund, provided that the shareholder meets the eligibility requirements for the Share Class into which the conversion is sought, as applicable.
Exchange Privilege: Trust Shares may be exchanged into any Federated Hermes fund or share class that does not have a stated sales charge or contingent deferred sales charge, except Shares of Federated Hermes Institutional Money Market Management, Federated Hermes Institutional Tax-Free Cash Trust, Federated Hermes Institutional Prime Value Obligations Fund, Class A Shares of Federated Hermes Government Reserves Fund and Class R Shares of any Fund, provided that the shareholder meets any shareholder eligibility and minimum initial investment requirements for the Shares to be purchased, (if applicable), both accounts have identical registrations, and the shareholder receives a prospectus for the fund in which the shareholder wishes to exchange.

 

Schedule of FundS

Offering Trust Shares

 

The Funds set forth on this Schedule each offer Trust Shares on the terms set forth in the Trust Shares Exhibit to the Multiple Class Plan, in each case as indicated below. The 12b-1 fees indicated are the maximum amounts authorized based on the average daily net asset value. Actual amounts accrued may be less.

 

Multiple Class Company

Series

 12b-1 Fee
   
Federated Hermes Money Market Obligations Trust:  
Federated Hermes Government Obligations Fund 0.25%
Federated Hermes Prime Cash Obligations Fund 0.25%
Federated Hermes Treasury Obligations Fund 0.25%

 

 

 
 

 

 

Class Y Shares Exhibit

To

Multiple Class Plan

(rEVISED 06/29/20)

 

1.       Separate Arrangement And Expense Allocation

 

For purposes of Rule 18f-3 under the Act, the basic distribution and shareholder servicing arrangement for the Class Y Shares will consist of sales to institutional purchasers requiring less distribution support activity and less shareholder services, who are also seeking low expense ratios. In connection with this basic arrangement, Class Y Shares will bear the following fees and expenses:

 

Fees and Expenses Maximum Amount Allocated Class Y Shares
Sales Load None
Contingent Deferred Sales Charge ("CDSC") None
Shareholder Service Fee None
12b-1 Fee None
Other Expenses Itemized expenses incurred by the Fund with respect to holders of Class Y Shares as described in Section 3 of the Plan

 

2.       Conversion and Exchange Privileges

 

For purposes of Rule 18f-3, Class Y Shares have the following conversion rights and exchange privileges at the election of the shareholder:

 

Conversion Rights: At the election of the shareholder, Shares may be converted into any other Share Class of the same Fund, provided that the shareholder meets the eligibility requirements for the Share Class into which the conversion is sought, as applicable.
Exchange Privilege:

Class Y Shares may be exchanged into any Federated Hermes fund or share class that does not have a stated sales charge or contingent deferred sales charge, except Shares of Federated Institutional Money Market Management, Federated Hermes Institutional Prime Obligations Fund, Federated Hermes Institutional Tax-Free Cash Trust, Federated Hermes Institutional Prime Value Obligations Fund, Class A Shares of Federated Hermes Government Reserves Fund and Class R Shares of any Fund, provided that the shareholder meets any shareholder eligibility and minimum initial investment requirements for the Shares to be purchased, (if applicable), both accounts have identical registrations, and the shareholder receives a prospectus for the fund in which the shareholder wishes to exchange.

 

In any exchange, the shareholder shall receive shares having the same aggregate net asset value as the shares surrendered. Exchanges to any other Class shall be treated in the same manner as a redemption and purchase.

 
 

Schedule of Funds

Offering class Y Shares

 

The Funds set forth on this Schedule each offer Class Y Shares on the terms set forth in the Class Y Shares Exhibit to the Multiple Class Plan, in each case as indicated below:

 

Multiple Class Company Series
   
Federated Hermes Short-Term Government Fund  
   

 

 

 

 

FREE Breaking News Alerts from StreetInsider.com!

E-mail Address

StreetInsider.com Top Tickers, 4/24/2024

1. TSLA
2. ENPH
3. TXN
4. SPOT
5. V
6. BA
7. KMB
8. MSCI
9. STX
10. GM



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

SEC Filings