Common use of Non-Exclusive Services Clause in Contracts

Non-Exclusive Services. The services of the Adviser to the Trust are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the Trust. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the Trust. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the Trust. The Adviser may aggregate the Trust’s orders with orders of its proprietary accounts and/or orders of other clients.

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.

Non-Exclusive Services. The services of the Adviser to the Trust are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the Trust. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the Trust. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the Trust. The Adviser may aggregate the Trust’s orders with orders of its proprietary accounts and/or orders of other clients.. Information Classification: General ▇▇▇▇▇ ▇▇▇▇▇ NEW YORK MUNICIPAL BOND FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ FLOATING-RATE MUNICIPAL INCOME FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ SHORT DURATION INFLATION-PROTECTED INCOME FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ GLOBAL MACRO ABSOLUTE RETURN FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ OREGON MUNICIPAL INCOME FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ GLOBAL BOND FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may ▇▇▇▇▇ ▇▇▇▇▇ CORE BOND FUND aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may ▇▇▇▇▇ ▇▇▇▇▇ EMERGING MARKETS LOCAL INCOME FUND aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.

Non-Exclusive Services. The services of the Adviser to the Trust are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the Trust. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the Trust. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the Trust. The Adviser may aggregate the Trust’s orders with orders of its proprietary accounts and/or orders of other clients.. SHORT DURATION INFLATION-PROTECTED INCOME PORTFOLIO

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ HIGH INCOME OPPORTUNITIES FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ TAX-MANAGED GROWTH FUND 1.1

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ SHORT DURATION STRATEGIC INCOME FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ NATIONAL LIMITED MATURITY MUNICIPAL INCOME FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may ▇▇▇▇▇ ▇▇▇▇▇ GREATER CHINA GROWTH FUND aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may ▇▇▇▇▇ ▇▇▇▇▇ GREATER INDIA FUND aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ MINNESOTA MUNICIPAL INCOME FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ PENNSYLVANIA MUNICIPAL INCOME FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ MISSOURI MUNICIPAL INCOME FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ MARYLAND MUNICIPAL INCOME FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may ▇▇▇▇▇ ▇▇▇▇▇ EMERGING AND FRONTIER COUNTRIES EQUITY FUND aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ OHIO MUNICIPAL INCOME FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ BALANCED FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ MASSACHUSETTS MUNICIPAL INCOME FUND

Non-Exclusive Services. The services of the Adviser to the Trust are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the Trust. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the Trust. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the Trust. The Adviser may aggregate the Trust’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ ENHANCED EQUITY INCOME FUND II

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may ▇▇▇▇▇ ▇▇▇▇▇ REAL ESTATE FUND aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ NEW YORK MUNICIPAL INCOME FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may ▇▇▇▇▇ ▇▇▇▇▇ SPECIAL EQUITIES FUND aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may ▇▇▇▇▇ ▇▇▇▇▇ LARGE-CAP VALUE FUND aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including ▇▇▇▇▇ ▇▇▇▇▇ ATLANTA CAPITAL FOCUSED GROWTH FUND the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ TAX-MANAGED VALUE FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may ▇▇▇▇▇ ▇▇▇▇▇ CORE PLUS BOND FUND aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ FLOATING-RATE ADVANTAGE FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the ▇▇▇▇▇ ▇▇▇▇▇ ATLANTA CAPITAL ▇▇▇▇-CAP FUND Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ TAX-MANAGED SMALL-CAP FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ TAX-MANAGED GLOBAL DIVIDEND INCOME FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ GLOBAL SMALL-CAP EQUITY FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its ▇▇▇▇▇ ▇▇▇▇▇ WORLDWIDE HEALTH SCIENCES FUND affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ TAX-MANAGED EQUITY ASSET ALLOCATION FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ TAX-MANAGED GROWTH FUND 1.2

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ SOUTH CAROLINA MUNICIPAL INCOME FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ VIRGINIA MUNICIPAL INCOME FUND

Non-Exclusive Services. The services of the Adviser to the Trust are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the Trust. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the Trust. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the Trust. The Adviser may aggregate the Trust’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ SHORT DURATION DIVERSIFIED INCOME FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. PARAMETRIC TAX-MANAGED INTERNATIONAL EQUITY FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ NEW JERSEY MUNICIPAL INCOME FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ CONNECTICUT MUNICIPAL INCOME FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ ARIZONA MUNICIPAL INCOME FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ GROWTH FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ HIGH YIELD MUNICIPAL INCOME FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ NATIONAL MUNICIPAL INCOME FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ SHORT DURATION GOVERNMENT INCOME FUND

Non-Exclusive Services. The services of the Adviser to the Trust are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the Trust. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the Trust. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the Trust. The Adviser may aggregate the Trust’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ SENIOR INCOME TRUST

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ FLOATING-RATE & HIGH INCOME FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ GOVERNMENT OPPORTUNITIES FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ STOCK FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ CALIFORNIA MUNICIPAL OPPORTUNITIES FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ VT FLOATING-RATE INCOME FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ SMALL-CAP FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ GLOBAL INCOME BUILDER FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ TAX-MANAGED MULTI-CAP GROWTH FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ FLOATING-RATE FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ NEW YORK MUNICIPAL OPPORTUNITIES FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ AMT-FREE MUNICIPAL INCOME FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ NORTH CAROLINA MUNICIPAL INCOME FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ DIVIDEND BUILDER FUND

Non-Exclusive Services. The services of the Adviser to the Trust Fund are not to be deemed to be exclusive, the Adviser being free to render services to others and engage in other business activities. It is understood that the Adviser and its affiliates perform investment services, including rendering investment advice, to varied clients. It is understood that the Adviser or any of its affiliates may give advice or take action for other accounts that may differ from, conflict with or be adverse to advice given or taken for the TrustFund. It is understood that certain securities or instruments may be held in some accounts but not in others, or the accounts may have different levels of holdings in certain securities or instruments and the accounts may remit different levels of fees to the Adviser. In addition, it is understood that the Adviser or any of its affiliates may give advice or take action with respect to the investments of the Trust Fund that may not be given or taken with respect to one or more accounts with similar investment programs, objectives, and strategies. The Trust Fund acknowledges that the Adviser, its affiliates and their respective officers, directors, and/or employees may from time to time have positions in or transact in securities and other investments recommended to clients, including the TrustFund. Such transactions may differ from or be inconsistent with the advice given, or the timing or nature of the Adviser’s action or actions with respect to the TrustFund. The Adviser may aggregate the TrustFund’s orders with orders of its proprietary accounts and/or orders of other clients.. ▇▇▇▇▇ ▇▇▇▇▇ GEORGIA MUNICIPAL INCOME FUND