FIRST AMENDMENT TO SHAREHOLDER SERVICING AGREEMENT
Exhibit-99.28(m)(iii)
FIRST AMENDMENT TO SHAREHOLDER SERVICING AGREEMENT
THIS FIRST AMENDMENT TO SHAREHOLDER SERVICING AGREEMENT dated as of September 1, 2010 by and between OLD WESTBURY FUNDS, INC., a Maryland corporation (the “Corporation”), and BESSEMER TRUST COMPANY, N.A., a national association (“BTNA”).
W I T N E S S E T H:
WHEREAS, the Corporation and BTNA are parties to that certain Shareholder Servicing Agreement dated as of March 1, 2007 (the “Shareholder Servicing Agreement”), pursuant to which BTNA provides certain shareholder support services to each series of the Corporation; and
WHEREAS, the Corporation and BTNA desire to amend the Shareholder Servicing Agreement to amend the compensation payable thereunder and Schedule A to reflect name changes of certain series of the Corporation;
NOW, THEREFORE, in consideration of the premises and the mutual agreements contained herein, the parties hereby agree as follows:
1. Paragraph 1(b) of the Shareholder Servicing Agreement is hereby amended and restated in its entirety to read as follows:
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“In consideration of the foregoing, the Corporation will pay BTNA a fee at the annual rate of 0.2% of each of the Portfolio’s average daily net assets attributable to its clients and clients of any Shareholder Sub-Servicing Agents as compensation for providing Shareholder Support Services to such clients (“Shareholder Servicing Fees”). BTNA’s payment will be accrued by the Corporation daily, and will be payable on the last day of each calendar month for services performed hereunder during the month or on such other schedule as BTNA shall request of the Corporation in writing. ” |
2. The series of the Corporation set forth in Schedule A to the Shareholder Servicing Agreement is hereby deleted in its entirety and replaced by the series of the Corporation set forth in Schedule A hereto.
3. The Shareholder Servicing Agreement, as expressly amended hereby, shall continue in full force and effect.
4. This Amendment may be executed in counterparts, each of which shall be an original but all of which, taken together, shall constitute one and the same agreement.
IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to the Shareholder Servicing Agreement to be executed by their respective officers as of the day and year first written above.
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OLD WESTBURY FUNDS, INC. |
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By: |
/s/ Xxxx X. Xxxxx |
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Xxxx X. Xxxxx |
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President and Chief Executive |
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Officer |
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BESSEMER TRUST COMPANY, N.A. |
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By: |
/s/ Xxxx X. XxxXxxxxx |
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Xxxx X. XxxXxxxxx |
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Managing Director and Chief Financial |
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Officer |
SCHEDULE A
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Old Westbury Funds, Inc. Portfolios |
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U.S. Large Cap Fund |
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Non-U.S. Large Cap Fund |
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Global Small & Mid Cap Fund |
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Global Opportunities Fund |
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Real Return Fund |
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Fixed Income Fund |
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Municipal Bond Fund |