0001104659-09-071708 Sample Contracts

GREER, HERZ & ADAMS, L.L.P. A LIMITED LIABILITY PARTNERSHIP INCLUDING PROFESSIONAL CORPORATIONS ATTORNEYS AT LAW ONE MOODY PLAZA, 18TH FLOOR GALVESTON, TEXAS 77550-7998 FAX (409) 766-6424
Sm&r Investments, Inc. • December 29th, 2009

GREGORY S. GARRISON (409) 797-3248 ggarrison@greerherz.com Galveston Office - (409) 797-3200 (281) 480-5278 (HOUSTON) www.greerherz.com BAY AREA HOUSTON OFFICE: 2525 SOUTH SHORE BLVD., SUITE 203 LEAGUE CITY, TEXAS 77573 FAX (281) 538-3791

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CUSTODIAN AGREEMENT BETWEEN SM&R INVESTMENTS, INC. AND MOODY NATIONAL BANK
Custodian Agreement • December 29th, 2009 • Sm&r Investments, Inc. • Texas

THIS CUSTODIAN AGREEMENT (the “Agreement”) is made and entered into this 10th day of September, 2009, by and between MOODY NATIONAL BANK, a national banking association hereinafter referred to as the “Custodian,” and SM&R INVESTMENTS, INC., a Maryland corporation hereinafter referred to as the “Fund.”

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