The Bank of New York Mellon BlackRock Asset Management International Inc.
Exhibit 10.3
February 8, 2010
| The Bank of New York Mellon | BlackRock Asset Management International Inc. | |
| 0000 Xxxxxxx Xxxxxx, 22-W | 000 Xxxxxx Xxxxxx | |
| Xxx Xxxx, XX 00000 | Xxx Xxxxxxxxx, XX 00000 | |
| Attn: ADR Administration | Attn: Product Management Team – Intermediary | |
| Investors and Exchange-Traded Products Department |
Re: iShares® COMEX® Gold Trust
Ladies and Gentlemen:
Reference: is hereby made to the Custodian Agreement (the “Agreement”) dated as of January 19, 2005 between The Bank of New York, a New York banking corporation, in its capacity as the trustee of the iShares® COMEX® Gold Trust (the “Trust”) and The Bank of Nova Scotia, a bank organized under the laws of Canada, pursuant to which the latter was appointed custodian for the Trust. Capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Agreement.
This letter will evidence our agreement, effective on the date hereof, to modify clause “(iii)” of Section 3(h) of the Agreement so that, as amended, it reads in its entirety as follows:
“(iii) after giving effect to the proposed deposit, the value of all Gold held in the Account would exceed $5 billion.”
Expect as modified hereby, the Agreement shall continue in full force and effect.
This letter shall be governed by, and construed pursuant to, the laws of the State of New York, without giving effect to the conflict of laws principles thereof, other than Section 5-1401 of the General Obligations Law.
Kindly indicate your agreement with the foregoing by countersigning a copy of this letter in the space provided below.
Sincerely,
| The Bank of Nova Scotia | ||
| By: | /S/ XXXXXXX MASLOBI | |
| Name: |
Xxxxxxx Maslobi | |
| Title: |
Managing Director | |
| Accepted and agreed to, | ||
| The Bank of New York Mellon, in its capacity as the Trustee of the iShares® COMEX® Gold Trust | ||
| By: | /S/ XXXXX X. XXXXXXXX | |
| Name: |
Xxxxx X. Xxxxxxxx | |
| Title: |
Managing Director | |
The Bank of New York Mellon
BlackRock Asset Management International, Inc.
(Page 2 of 2)
Consented to by:
BlackRock Asset Management International Inc., in its capacity as
Sponsor of the iShares ® COMEX® Gold Trust
| By: | /S/ XXXX XXX | |
| Name: | Xxxx Xxx | |
| Title: |
Managing Director | |
