EX-99.G.1.(VI) 3 amend5_cust-agmt.htm FIFTH AMENDMENT TO CUSTODY AGREEMENT



FIFTH AMENDMENT TO THE
CUSTODY AGREEMENT

THIS FIFTH AMENDMENT dated as of February 16, 2017, to the Custody Agreement, originally made and entered into as of October 23, 2009, as amended February 4, 2011, March 25, 2013, October 24, 2013 and October 22, 2015 (the “Agreement”), is entered into by and between TRUST FOR PROFESSIONAL MANAGERS, a Delaware business trust, (the “Trust”) on behalf of the CONVERGENCE FUNDS (the “Funds”) and U.S. BANK NATIONAL ASSOCIATION, a national banking association (the “Custodian”).

RECITALS

WHEREAS, the parties have entered into the Agreement; and

WHEREAS, the Trust and USBFS desire to amend the fees of the Agreement; and

WHEREAS, Article XV, Section 15.02 of the Agreement allows for its amendment by a written instrument executed by both parties.

NOW, THEREFORE, the parties agree as follows:

Amended Exhibit D of the Agreement is hereby superseded and replaced with Amended Exhibit D attached hereto.

Except to the extent amended hereby, the Agreement shall remain in full force and effect.

IN WITNESS WHEREOF, the parties hereto have caused this Fifth Amendment to be executed by a duly authorized officer on one or more counterparts as of the date and year first written above.
 
TRUST FOR PROFESSIONAL MANAGERS
 
U.S. BANK NATIONAL ASSOCIATION
 
 
By: /s/ John P. Buckel                                
 
By: /s/ Michael L. Ceccato                          
Name: John P. Buckel
 
Name: Michael L. Ceccato
Title: President
Title: Vice President



 Amended Exhibit D to the
Custody Agreement – Trust for Professional Managers
 
Custody Services Fee Schedule at January, 2017
 
Annual Fee Based Upon Market Value per Fund*
___ basis point on average daily market value of all long securities and cash held in the portfolio
Minimum annual fee per fund $___
Plus portfolio transaction fees

Portfolio Transaction Fees
$___
– Book entry DTC transaction, Federal Reserve transaction
$___
-- Principal paydown
$___
– Repurchase agreement, reverse repurchase agreement, time deposit/CD or other non-depository transaction
$___
– Option/SWAPS/future contract written, exercised or expired
$___
– Mutual fund trade, Margin Variation Wire and outbound Fed wire
$___
– Physical security transaction
$___
– Check disbursement (waived if U.S. Bancorp is Administrator)

A transaction is a purchase/sale of a security, free receipt/free delivery, maturity, tender or exchange.

Miscellaneous Expenses
Including but not limited to expenses incurred in the safekeeping, delivery and receipt of securities, shipping, transfer fees, deposit withdrawals at custodian (DWAC) fees, SWIFT charges, negative interest charges and extraordinary expenses based upon complexity.

Additional Services
Additional fees apply for global servicing.
$___ – per Sub Advisor
$___ – per Segregated custody account
No charge for the initial conversion free receipt.
Overdrafts – charged to the account at prime interest rate plus ___ unless a line of credit is in place.

* Subject to annual CPI increase – All Urban Consumers – U.S. City Average.
Fees are calculated pro rata and billed monthly.

Advisor’s signature below acknowledges approval of the fee schedule on this Amended Exhibit D

CONVERGENCE INVESTMENT PARTNERS, LLC
 
By: /s/ David J. Abitz_________________________
 
Printed Name and Title: David J. Abitz    President        
 
Date: 2/20/2017                                                                     
 
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Amended Exhibit D (continued) to the
Custody Agreement - Trust for Professional Managers

Additional Global Sub-Custodial Services Annual Fee Schedule (continued) at
January, 2017


 
Country
Instrument
Safekeeping
(BPS)
Transaction
Fee
 
Country
Instrument
Safekeeping
(BPS)
Transaction
Fee
Argentina
All
____
$____
 
Lithuania
All
____
$____
Australia
All
____
$____
 
Luxembourg
All
____
$____
Austria
All
____
$____
 
Malaysia
All
____
$____
Bahrain
All
____
$____
 
Mali
All
____
$____
Bangladesh
All
____
$____
 
Malta
All
____
$____
Belgium
All
____
$____
 
Mauritius
All
____
$____
Benin
All
____
$____
 
Mexico
All
____
$____
Bermuda
All
____
$____
 
Morocco
All
____
$____
Botswana
All
____
$____
 
Namibia
All
____
$____
Brazil
All
____
$____
 
Netherlands
All
____
$____
Bulgaria
All
____
$____
 
New Zealand
All
____
$____
Burkina Faso
All
____
$____
 
Niger
All
____
$____
Canada
All
____
$____
 
Nigeria
All
____
$____
Cayman Islands*
All
____
$____
 
Norway
All
____
$____
Channel Islands*
All
____
$____
 
Oman
All
____
$____
Chile
All
____
$____
 
Pakistan
All
____
$____
China
All
____
$____
 
Peru
All
____
$____
Columbia
All
____
$____
 
Philippines
All
____
$____
Costa Rica
All
____
$____
 
Poland
All
____
$____
Croatia
All
____
$____
 
Portugal
All
____
$____
Cyprus
All
____
$____
 
Qatar
All
____
$____
Czech Republic
All
____
$____
 
Romania
All
____
$____
Denmark
All
____
$____
 
Russia
Equities
____
$____
Ecuador
All
____
$____
 
Senegal
All
____
$____
Egypt
All
____
$____
 
Singapore
All
____
$____
Estonia
All
____
$____
 
Slovak Republic
All
____
$____
Euromarkets**
All
____
$____
 
Slovenia
All
____
$____
Finland
All
____
$____
 
South Africa
All
____
$____
France
All
____
$____
 
South Korea
All
____
$____
Germany
All
____
$____
 
Spain
All
____
$____
Ghana
All
____
$____
 
Sri Lanka
All
____
$____
Greece
All
____
$____
 
Swaziland
All
____
$____
Guinea Bissau
All
____
$____
 
Sweden
All
____
$____
Hong Kong
All
____
$____
 
Switzerland
All
____
$____
Hungary
All
____
$____
 
Taiwan
All
____
$____
Iceland
All
____
$____
 
Thailand
All
____
$____
India
All
____
$____
 
Togo
All
____
$____
Indonesia
All
____
$____
 
Tunisia
All
____
$____
Ireland
All
____
$____
 
Turkey
All
____
$____
Israel
All
____
$____
 
UAE
All
____
$____
Italy
All
____
$____
 
United Kingdom
All
____
$____
Ivory Coast
All
____
$____
 
Ukraine
All
____
$____
Japan
All
____
$____
 
Uruguay
All
____
$____
Jordan
All
____
$____
 
Venezuela
All
____
$____
Kazakhstan
All
____
$____
 
Vietnam
All
____
$____
Kenya
All
____
$____
 
Zambia
All
____
$____
Latvia
Equities
____
$____
 
Zimbabwe
All
____
$____
Lebanon
All
____
$____
         
Safekeeping and transaction fees are accessed on security and currency transactions
* Additional customer documentation and indemnification will be required prior to establishing accounts in these markets.
** Tiered by market value:<$___: ___bp;>$ ___ and <___. ___ bps; >$___: ___bps.
** Euromarkets – Non-Eurobonds: Surcharges vary by local market.
 

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Amended Exhibit D to the
Custody Agreement – Trust for Professional Managers

 
Additional Global Sub-Custodial Services Annual Fee Schedule (continued) at January, 2017
 


A monthly base fee per account (fund) will apply based on the number of foreign securities held. If no global assets are held within a given month, the monthly base charge will not apply for that month.
1–25 foreign securities: $___; 26–50 foreign securities: $___; Over 50 foreign securities: $___
Euroclear – Eurobonds only.  Eurobonds are held in Euroclear at a standard rate, but other types of securities (including but not limited to equities, domestic market debt and mutual funds) will be subject to a surcharge.  In addition, certain transactions that are delivered within Euroclear or from a Euroclear account to a third party depository or settlement system, will be subject to a surcharge.
For all other markets specified in above grid, surcharges may apply if a security is held outside of the local market.

Miscellaneous Expenses
Tax reclaims that have been outstanding for more than 6 (six) months with the client will be charged $___ per claim.
Charges incurred by U.S. Bank, N.A. directly or through sub-custodians for account opening fees, local taxes, stamp duties or other local duties and assessments, stock exchange fees, foreign exchange transactions, postage and insurance for shipping, facsimile reporting, extraordinary telecommunications fees, proxy services and other shareholder communications, recurring administration fees, negative interest charges, overdraft charges or other expenses which are unique to a country in which the client or its clients is investing will be passed along as incurred.
A surcharge may be added to certain miscellaneous expenses listed herein to cover handling, servicing and other administrative costs associated with the activities giving rise to such expenses.  Also, certain expenses are charged at a predetermined flat rate.
SWIFT reporting and message fees.




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