Preview | Custodian Services Agreement |

THIS AGREEMENT is made, as of July 1, 2005, separately by and between each separate registered investment company set forth on Exhibit A (dated July 1, 2005) attached hereto (each a Fund) and PFPC TRUST COMPANY (PFPC Trust). As used herein, the term Agreement shall mean this Custodian Services Agreement and any and all exhibits and schedules attached hereto and any amendments to any of the foregoing executed in accordance with the terms of this Custodian Services Agreement.

WHEREAS, each Fund is registered as an investment company under the Investment Company Act of 1940, as amended (the 1940 Act);

WHEREAS, each Fund wishes to retain PFPC Trust to provide custodian services to its investment portfolios listed on Exhibit A attached hereto, as such Exhibit A may be amended from time to time (each a Portfolio), and PFPC Trust wishes to furnish custodian services either directly or through an affiliate or affiliates, as more fully described herein; and

WHEREAS, additional registered investment companies may be added to this Agreement pursuant to written agreement of such registered investment company and PFPC Trust, and upon the effective date of such written agreement such registered investment company shall be a Fund for all purposes under this Agreement.

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, each separate Fund and PFPC Trust agree as follows:

(c) Authorized Person means, with respect to a particular Fund, any officer of the Fund and any other person authorized by the Fund to give Oral or Written Instructions on behalf of the Fund. An Authorized Persons scope of authority may be limited by setting forth such limitation in a written document signed by the relevant Fund and PFPC Trust.

(d) Book-Entry System means the Federal Reserve Treasury book-entry system for United States and federal agency securities, its successor or successors, and its nominee or nominees and any book-entry system registered with the SEC under the 1934 Act.

(f) Oral Instructions mean oral instructions received by PFPC Trust from an Authorized

Person or from a person reasonably believed by PFPC Trust to be an Authorized Person. PFPC Trust may, in its sole discretion in each separate instance, consider and rely upon instructions it receives from an Authorized Person via electronic mail as Oral Instructions.

(g) PFPC Trust means PFPC Trust Company or a subsidiary or affiliate of PFPC Trust Company.

(h) SEC means the Securities and Exchange Commission.

(i) Securities Laws mean the 1933 Act, the 1934 Act, the 1940 Act and the CEA.

(j) Shares mean the shares of beneficial interest of any series or class of a Portfolio.

(k) Property means:

(i) any and all securities and other investment items which a Fund may from time to time deposit (or cause to be deposited) with PFPC Trust with respect to one of the Funds Portfolios or which PFPC Trust may from time to time hold for a Fund with respect to one of the Funds Portfolios;

(ii) all income in respect of any of such securities or other investment items;

(iii) all proceeds of the sale of any of such securities or investment items; and

(iv) all proceeds of the sale of securities issued by a Fund with respect to one of the Funds Portfolios, which are received by PFPC Trust from time to time, from or on behalf of that Portfolio.

(l) Written Instructions mean (i) written instructions signed by two Authorized Persons (or persons reasonably believed by PFPC Trust to be Authorized Persons) and received by PFPC Trust or (ii) trade instructions with respect to a particular Portfolio transmitted by means of an electronic transaction reporting system which requires the use of a password or other authorized identifier in order to gain access. The instructions may be delivered electronically (with respect to sub-item (ii) above) or by hand, mail or facsimile sending device.

2. Appointment. Each Fund hereby appoints PFPC Trust to provide custodian services set forth in this Agreement to each of its Portfolios, in accordance with the terms set forth in this Agreement. PFPC Trust accepts such appointment and agrees to furnish such services. For clarity, PFPC Trust shall have no obligations or responsibilities with respect to a particular investment portfolio of a Fund until such investment portfolio (i) is listed or deemed to be listed (pursuant to a written agreement between PFPC Trust and such Fund) on Exhibit A attached hereto or (ii) is otherwise agreed (pursuant to a written agreement between PFPC Trust and such Fund) to be a Portfolio under this Agreement.

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