EX-99.M4 9 ex99m4.txt SPECIMEN COPY OF SHAREHOLDER SERVICE AGREEMENT SHAREHOLDER SERVICES AGREEMENT RYDEX FUNDS In consideration of the covenants and agreements contained herein, Rydex Distributors, Inc. (the "Distributor") agrees to compensate [FIRM NAME] ("Agent") for the services set forth below, and Agent agrees to provide such services. SECTION 1. Agent will provide one or more of the following services to customers of the Agent ("Customers") who may from time to time invest in shares of the Funds listed on Exhibit A, as may be amended from time to time ("Shares"): (i) establishing and maintaining accounts and records relating to Customers that invest in Shares; (ii) arranging for bank wires; (iii) responding to Customer inquiries relating to the services performed by the Agent; (iv) responding to inquiries from Customers concerning their investment in Shares; (v) assisting Customers in changing dividend options, account designations and addresses; (vi) providing information periodically to Customers showing their position in Shares; (vii) forwarding shareholder communications from the Funds (such as proxies, shareholder reports, annual and semi-annual reports, and dividend distribution and tax notices) to Customers; (viii) processing purchase, exchange and redemption requests on behalf of Customers and placing such orders with the Fund's transfer agent; (ix) providing sub-accounting with respect to Shares owned of record or beneficially by Customers; and (x) processing dividend payments from the Funds on behalf of Customers. SECTION 2. Agent represents that it (a) has in place anti-money laundering procedures to the extent required by law; (b) shall take all reasonable steps to determine (i) the true identity of its Customers, (ii) the source of its Customers' funds, and (iii) that its Customers are not involved in money laundering activities; (c) shall comply with any other "know your customer" requirements under applicable law; and (d) shall monitor its Customers' transactions in order to detect attempted or actual money laundering involving Shares. Agent further agrees to notify the Distributor of any suspicious activity relating to transactions involving Shares to the extent permitted by applicable law. Upon the reasonable request of the Funds or the Distributor, Agent agrees to promptly provide documentation relating to its anti-money laundering program established to the extent required by law. SECTION 3. Agent will provide all office space and equipment, telephone facilities and personnel (which may be part of the space, equipment and facilities currently used in Agent's business, or any personnel employed by Agent) as may be reasonably necessary or beneficial in order to fulfill its responsibilities under this Agreement. SECTION 4. Neither Agent nor any of its officers, employees, or agents is authorized to make any representations concerning the Funds, the Shares or the trusts, as listed in Exhibit A, as may be amended from time to time ("Trusts"), except those contained in the Funds' then-current prospectus or Statement of Additional Information, copies of which will be supplied to Agent, or in such supplemental literature or advertising as may be authorized in writing by the Distributor. No person is authorized to distribute any sales material relating to the Funds without the prior written approval of the Distributor. 1 SECTION 5. For purposes of this Agreement, Agent will be deemed to be an independent contractor, and will have no authority to act as agent for the Funds or the Trusts in any matter or in any respect. SECTION 6. The Distributor shall be under no liability to Agent hereunder except for its failure to exercise good faith in discharging the obligations expressly assumed by it hereunder. In carrying out its obligations, Agent agrees to act in good faith and without negligence. By its written acceptance of this Agreement, Agent agrees to and does release, indemnify and hold harmless the Distributor and the Funds and their respective successors and assigns, each of their respective officers and directors, and each person who controls either the Distributor or the Funds within the meaning of Section 15 of the Securities Act of 1933 (the "Securities Act") against any loss, liability, claim, damages or expense (including reasonable attorneys' fees and expenses) arising by reason of (1) any direct or indirect actions or inactions of or by Agent or its officers, employees or agents regarding your responsibilities hereunder, (ii) the purchase, redemption, transfer or registration of Shares (or orders relating to the same) by Customers or (iii) any breach of the provisions of this Agreement by Agent or its successors or permitted assigns. Nothing contained in this Agreement is intended to operate as a waiver by the Distributor or Agent of compliance with any provision of the Investment Company Act of 1940 (the "Investment Company Act"), the Securities Act, the Securities Exchange Act of 1934, as amended, the Investment Advisers Act of 1940, or the rules and regulations promulgated by the Securities and Exchange Commission thereunder. SECTION 7. Agent and its officers and employees will, upon request, be available during normal business hours to consult with representatives of the Distributor, the Trusts or their designees concerning the performance of Agent's responsibilities under this Agreement. SECTION 8. Agent agrees to comply with the provisions contained in the Securities Act governing the delivery of a Prospectus to Customers. If Agent holds Shares as a record owner for Agent's Customers, Agent further agrees to deliver, upon our request, copies of any amended Prospectus to persons whose Shares you are holding as record owner. SECTION 9. Agent represents that its has been duly authorized by proper corporate action to enter into this Agreement and to perform its obligations hereunder, evidence of which has been properly maintained and made part of its corporate records and further represents that it possesses the legal authority to perform the services contemplated by this Agreement without violating applicable law (and this Agreement shall automatically terminate in the event that Agent no longer possesses such authority). Agent agrees that it will not offer or sell Shares in violation of applicable law. SECTION 10. Agent will (i) maintain all records required by law to be kept by Agent relating to transactions in Shares and, upon request by the Funds, promptly make such records available to the Funds as the Funds may reasonably request in connection with their operations and (ii) promptly notify the Funds if Agent experiences any difficulty in maintaining the records described in the foregoing clauses in an accurate and complete manner. If Agent holds Shares as a record owner for Agent's Customers, Agent will be responsible for maintaining all necessary books and Customer account records which reflect their beneficial ownership of Shares, which records shall specifically reflect that Agent is holding Shares as agent, custodian or nominee for Agent's Customers. SECTION 11. In consideration of the services and facilities to be provided by Agent, each Fund will pay to Agent a fee, as agreed from time to time, at an annual rate in Schedule B to this Agreement, which fee will be computed daily and paid monthly. Agent acknowledges that any compensation to be paid to it by the Distributor shall be paid from proceeds paid to the Distributor by the Funds and, to the extent the Distributor does not receive such proceeds for any reason, the amounts payable to Agent will 2 be reduced accordingly. In addition, Distributor may waive all or any portion of its fee from time to time and, to the extent the Distributor waives such fee or any reason, the amounts payable to Agent will be reduced accordingly. Agent may waive all or any portion of its fee from time to time. In some circumstances, as determined by the Distributor, you may not receive shareholder servicing fees for assets with financial intermediaries where the Distributor has entered into an agreement with the financial intermediaries directly. Each Trust may, in its discretion and without notice, suspend or withdraw the sale of Shares of any Fund, including the sale of Shares for the account of any Customer(s). SECTION 12. The Distributor may enter into other similar servicing agreements with any other person or persons without the consent of Agent. SECTION 13. This Agreement contains the entire understanding of the parties hereto with respect to the subject matter contained herein and supersedes all previous agreements. This Agreement shall be binding upon the parties hereto when signed by Agent and accepted by the Distributor. This Agreement may be amended by the Distributor at any time by written notice to Agent. Agent's continued performance of services under this Agreement or accepting payment of any kind after the effective date and receipt of notice of such amendment shall constitute Agent's acceptance of such amendment. SECTION 14. This Agreement will become effective on the date a fully executed copy of this Agreement is received by the Distributor and shall continue until terminated by either party. This Agreement is terminable with respect to any class of Shares of any Fund, without penalty, upon ten (10) days' notice to the other party. In addition, this Agreement shall also automatically terminate immediately, without penalty, in the event the Trust terminates the shareholder servicing plan with respect to any Fund or class thereof. SECTION 15. All notices and other communications to either the Distributor or Agent will be duly given if mailed, faxed, or transmitted by similar communications device to the appropriate address stated below, or to such other address as either party shall so provide the other. SECTION 16. This Agreement will be construed in accordance with the laws of the State of Maryland and may not be assigned, as defined in Section 2(a)(4) the Investment Company Act, by either party hereto without the written consent of the other party. SECTION 17. References to "Rydex," each Trust, and the "Trustees" of each Trust and refer respectively to such Trust created and the Trustees as trustees, but not individually or personally, acting from time to time under the Declaration of Trust of each respective Trust, a copy of which is on file with the U.S. Securities and Exchange Commission and at the Secretary of State of the State of Delaware and at such Trust's principal office. The obligations of each Trust entered into in the name or on behalf thereof by any of the Trustees, officers, representatives, or agents are made not individually, but in such capacities, and are not binding upon any of the Trustees, shareholders, officers, representatives, or agents of such Trust personally. Further, any obligations of each Trust with respect to any one Fund shall not be binding upon any other Fund. 3 By their signatures, the Distributor and Agent agree to the terms of this Agreement. RYDEX DISTRIBUTORS, INC. Signature: ____________________________ Print Name: _____________________________ Title: __________________________________ Date: _________________________________ Agreed to and accepted by: Signature: ____________________________ Print Name: ___________________________ Title: _________________________________ Firm Name: [FIRM NAME] Date: _________________________________ To enable the processing of this Agreement, please provide the following information. This information is being solicited in order for the Distributor and the Funds to comply with applicable anti-money laundering laws and regulations. Failure to complete the following will delay, and possibly prevent, the Distributor from processing this Agreement. Agent's Principal Address: Agent's Primary Telephone Number: Agent's SEC Registration Number: Agent's Tax Identification Number (TIN): 4 SCHEDULE A DATED 1/26/2010 TO THE SHAREHOLDER SERVICES AGREEMENT BETWEEEN RYDEX DISTRIBUTORS, INC. AND [FIRM NAME] LIST OF APPLICABLE FUNDS AND AUTHORIZED SHARE CLASSES
------------------------------------------------------------------------------------------------- INVESTOR/H CLASS ADVISOR CLASS A CLASS C CLASS ------------------------------------------------------------------------------------------------------------------------------------ FUND NAME FINRA FINRA FINRA FINRA SYMBOL CUSIP FUND ID SYMBOL CUSIP FUND ID SYMBOL CUSIP FUND ID SYMBOL CUSIP FUND ID ------------------------------------------------------------------------------------------------------------------------------------ All-Asset Aggressive Strategy RYGHX 78356A533 274 RYGGX 78356A590 774 RYGEX 78356A566 874 ------------------------------------------------------------------------------------------------------------------------------------ All-Asset Conservative Strategy RYEPX 78356A558 272 RYEOX 78356A624 772 RYEEX 78356A582 872 ------------------------------------------------------------------------------------------------------------------------------------ All-Asset Moderate Strategy RYMLX 78356A541 273 RYMOX 78356A616 773 RYMYX 78356A574 873 ------------------------------------------------------------------------------------------------------------------------------------ All-Cap Opportunity RYSRX 78355E833 258 RYAMX 78355E510 758 RYISX 78355E825 858 ------------------------------------------------------------------------------------------------------------------------------------ Alternative Strategies Allocation RYFOX 78356A269 280 RYFDX 78356A285 780 RYFFX 78356A277 880 ------------------------------------------------------------------------------------------------------------------------------------ Banking RYKIX 783554868 242 RYKAX 783554876 342 RYBKX 78355E379 742 RYKCX 783554314 842 ------------------------------------------------------------------------------------------------------------------------------------ Basic Materials RYBIX 783554843 235 RYBAX 783554850 335 RYBMX 78355E361 735 RYBCX 783554298 835 ------------------------------------------------------------------------------------------------------------------------------------ Biotechnology RYOIX 783554827 243 RYOAX 783554835 343 RYBOX 78355E353 743 RYCFX 783554280 843 ------------------------------------------------------------------------------------------------------------------------------------ Commodities Strategy RYMBX 78356A509 265 RYMEX 78356A301 765 RYMJX 78356A400 865 ------------------------------------------------------------------------------------------------------------------------------------ Consumer Products RYCIX 783554793 236 RYCAX 783554819 336 RYPDX 78355E346 736 RYCPX 783554272 836 ------------------------------------------------------------------------------------------------------------------------------------ Dow 2x Strategy RYCVX 78355Y201 248 RYLDX 78355Y888 748 RYCYX 78355Y102 848 ------------------------------------------------------------------------------------------------------------------------------------ Electronics RYSIX 783554777 244 RYSAX 783554785 344 RYELX 78355E338 744 RYSCX 783554264 844 ------------------------------------------------------------------------------------------------------------------------------------ Energy RYEIX 783554751 231 RYEAX 783554769 331 RYENX 78355E320 731 RYECX 783554256 831 ------------------------------------------------------------------------------------------------------------------------------------ Energy Services RYVIX 783554736 241 RYVAX 783554744 341 RYESX 78355E130 741 RYVCX 783554249 841 ------------------------------------------------------------------------------------------------------------------------------------ Europe 1.25x Strategy RYEUX 783554447 201 RYAEX 78355E692 701 RYCEX 783554116 801 ------------------------------------------------------------------------------------------------------------------------------------ Financial Services RYFIX 783554710 232 RYFAX 783554728 332 RYFNX 78355E312 732 RYFCX 783554231 832 ------------------------------------------------------------------------------------------------------------------------------------ Global 130/30 Strategy RYQMX 78355E783 259 RYASX 78355E494 759 RYQCX 78355E791 859 ------------------------------------------------------------------------------------------------------------------------------------ Global Market Neutral RYGNX 78356A194 282 RYGAX 78356A228 782 RYGMX 78356A210 882 ------------------------------------------------------------------------------------------------------------------------------------ Govt Long Bond 1.2x Strategy RYGBX 783554504 212 RYADX 78355E767 312 RYABX 78355E460 712 RYCGX 783554330 812 ------------------------------------------------------------------------------------------------------------------------------------ Health Care RYHIX 783554686 233 RYHAX 783554694 333 RYHEX 78355E296 733 RYHCX 783554223 833 ------------------------------------------------------------------------------------------------------------------------------------ High Yield Strategy RYHGX 78356A442 276 RYHDX 78356A483 776 RYHHX 78356A467 876 ------------------------------------------------------------------------------------------------------------------------------------ International Opportunity RYFHX 78356A392 278 RYFRX 78356A426 778 RYFWX 78356A418 878 ------------------------------------------------------------------------------------------------------------------------------------ Internet RYIIX 783554496 245 RYIAX 783554488 345 RYINX 78355E288 745 RYICX 783554215 845 ------------------------------------------------------------------------------------------------------------------------------------ Inverse Dow 2x Strategy RYCWX 78355Y409 249 RYIDX 78355Y870 749 RYCZX 78355Y300 849 ------------------------------------------------------------------------------------------------------------------------------------ Inverse Govt Long Bond Strategy RYJUX 783554702 214 RYJAX 78355E775 314 RYAQX 78355E429 714 RYJCX 783554322 814 ------------------------------------------------------------------------------------------------------------------------------------ Inverse High Yield Strategy RYIHX 78356A434 277 RYILX 78356A475 777 RYIYX 78356A459 877 ------------------------------------------------------------------------------------------------------------------------------------ Inverse Mid Cap Strategy RYMHX 78355E593 255 RYAGX 78355E627 755 RYCLX 78355E619 855 ------------------------------------------------------------------------------------------------------------------------------------ Inverse NASDAQ-100(R) 2x Strategy RYVNX 783554397 230 RYVTX 78355Y805 730 RYCDX 78355E502 830 ------------------------------------------------------------------------------------------------------------------------------------ Inverse NASDAQ-100(R) Strategy RYAIX 783554512 220 RYAAX 78355E759 320 RYAPX 78355E437 720 RYACX 783554348 820 ------------------------------------------------------------------------------------------------------------------------------------ Inverse Russell 2000 2x Strategy RYIRX 78356A699 271 RYIUX 78356A723 771 RYIZX 78356A715 871 ------------------------------------------------------------------------------------------------------------------------------------ Inverse Russell 2000 Strategy RYSHX 78355E528 250 RYAFX 78355E544 750 RYCQX 78355E536 850 ------------------------------------------------------------------------------------------------------------------------------------ Inverse S&P 500 2x Strategy RYTPX 783554421 227 RYTMX 78355Y607 727 RYCBX 78355E304 827 ------------------------------------------------------------------------------------------------------------------------------------ Inverse S&P 500 Strategy RYURX 783554405 217 RYUAX 783554538 317 RYARX 78355E718 717 RYUCX 783554363 817 ------------------------------------------------------------------------------------------------------------------------------------ Japan 2x Strategy RYJHX 78356A293 279 RYJSX 78356A368 779 RYJTX 78356A335 879 ------------------------------------------------------------------------------------------------------------------------------------ Leisure RYLIX 783554660 237 RYLAX 783554678 337 RYLSX 78355E270 737 RYLCX 783554199 837 ------------------------------------------------------------------------------------------------------------------------------------ Long/Short Commodities Strategy RYLFX 78356A251 281 RYLBX 78356A244 781 RYLEX 78356A236 881 ------------------------------------------------------------------------------------------------------------------------------------ Managed Futures Strategy RYMFX 78356A491 275 RYMTX 78356A517 775 RYMZX 78356A525 875 ------------------------------------------------------------------------------------------------------------------------------------ Mid Cap 1.5x Strategy RYMDX 78355E882 204 RYAHX 78355E486 704 RYDCX 78355E700 804 ------------------------------------------------------------------------------------------------------------------------------------ Money Market RYMXX 783554306 210 RYDXX 783554561 310 RYAXX 78355E395 710 RYCXX 78355E106 810 ------------------------------------------------------------------------------------------------------------------------------------ Multi-Hedge Strategies RYMSX 78356A780 267 RYMQX 78356A855 767 RYMRX 78356A848 867 ------------------------------------------------------------------------------------------------------------------------------------ NASDAQ-100(R) RYOCX 783554603 218 RYAOX 783554520 318 RYATX 78355E445 718 RYCOX 783554355 818 ------------------------------------------------------------------------------------------------------------------------------------ NASDAQ-100(R) 2x Strategy RYVYX 783554413 228 RYVLX 78355Y706 728 RYCCX 78355E403 828 ------------------------------------------------------------------------------------------------------------------------------------ Nova RYNVX 783554108 215 RYNAX 783554546 315 RYANX 78355E452 715 RYNCX 783554371 815 ------------------------------------------------------------------------------------------------------------------------------------ Precious Metals RYPMX 783554207 216 RYMPX 78355E858 316 RYMNX 78355E262 716 RYZCX 783554181 816 ------------------------------------------------------------------------------------------------------------------------------------ Real Estate RYHRX 78355E387 247 RYREX 78355E254 747 RYCRX 78355E809 847 ------------------------------------------------------------------------------------------------------------------------------------ Retailing RYRIX 783554645 238 RYRAX 783554652 338 RYRTX 78355E247 738 RYRCX 783554173 838 ------------------------------------------------------------------------------------------------------------------------------------ Russell 2000 RYRHX 78356A665 269 RYRRX 78356A681 769 RYROX 78356A673 869 ------------------------------------------------------------------------------------------------------------------------------------ Russell 2000 1.5x Strategy RYMKX 783554389 203 RYAKX 78355E478 703 RYCMX 78355E601 803 ------------------------------------------------------------------------------------------------------------------------------------ Russell 2000 2x Strategy RYRSX 78356A731 270 RYRUX 78356A756 770 RYRLX 78356A749 870 ------------------------------------------------------------------------------------------------------------------------------------ S&P 500 RYSPX 78356A632 268 RYSOX 78356A657 768 RYSYX 78356A640 868 ------------------------------------------------------------------------------------------------------------------------------------ S&P 500 2x Strategy RYTNX 783554439 225 RYTTX 78355Y508 725 RYCTX 78355E205 825 ------------------------------------------------------------------------------------------------------------------------------------ S&P 500 Pure Growth RYAWX 78355E650 257 RYLGX 78355E189 757 RYGRX 78355E668 857 ------------------------------------------------------------------------------------------------------------------------------------ S&P 500 Pure Value RYZAX 78355E676 256 RYLVX 78355E171 756 RYVVX 78355E684 856 ------------------------------------------------------------------------------------------------------------------------------------ S&P MidCap 400 Pure Growth RYBHX 78355E726 254 RYMGX 78355E742 754 RYCKX 78355E734 854 ------------------------------------------------------------------------------------------------------------------------------------ S&P MidCap 400 Pure Value RYAVX 78355E635 253 RYMVX 78355E163 753 RYMMX 78355E643 853 ------------------------------------------------------------------------------------------------------------------------------------ S&P SmallCap 600 Pure Growth RYWAX 78355E551 252 RYSGX 78355E148 752 RYWCX 78355E569 852 ------------------------------------------------------------------------------------------------------------------------------------ S&P SmallCap 600 Pure Value RYAZX 78355E577 251 RYSVX 78355E155 751 RYYCX 78355E585 851 ------------------------------------------------------------------------------------------------------------------------------------ Strengthening Dollar 2x Strategy RYSBX 78356A806 264 RYSDX 78356A608 764 RYSJX 78356A707 864 ------------------------------------------------------------------------------------------------------------------------------------ Technology RYTIX 783554629 234 RYTAX 783554637 334 RYTHX 78355E239 734 RYCHX 783554165 834 ------------------------------------------------------------------------------------------------------------------------------------ Telecommunications RYMIX 783554595 239 RYMAX 783554611 339 RYTLX 78355E221 739 RYCSX 783554157 839 ------------------------------------------------------------------------------------------------------------------------------------ Transportation RYPIX 783554579 240 RYPAX 783554587 340 RYTSX 78355E213 740 RYCNX 783554140 840 ------------------------------------------------------------------------------------------------------------------------------------ Utilities RYUIX 783554470 246 RYAUX 783554462 346 RYUTX 78355E197 746 RYCUX 783554132 846 ------------------------------------------------------------------------------------------------------------------------------------ Weakening Dollar 2x Strategy RYWBX 78356A863 263 RYWDX 78356A889 763 RYWJX 78356A871 863 ------------------------------------------------------------------------------------------------------------------------------------
5 LIST OF APPLICABLE FUNDS (FORMERLY KNOWN AS THE "SECURITY FUNDS") AND AUTHORIZED SHARE CLASSES
------------------------------------------------------------------------------------------ CLASS A CLASS C ------------------------------------------------------------------------------------------------------------------------------------ FUND FINRA FUND NAME FINRA SYMBOL CUSIP ID SYMBOL CUSIP FUND ID ------------------------------------------------------------------------------------------------------------------------------------ All Cap Value SESAX 814219 382 SEVCX 814219 374 ------------------------------------------------------------------------------------------------------------------------------------ Alpha Opportunity SAOAX 814219 481 SAOCX 814219 465 ------------------------------------------------------------------------------------------------------------------------------------ Equity SECEX 814219 101 SFECX 814219 846 ------------------------------------------------------------------------------------------------------------------------------------ Global SEQAX 814219 309 SFGCX 814219 838 ------------------------------------------------------------------------------------------------------------------------------------ Global Institutional --- --- --- --- ------------------------------------------------------------------------------------------------------------------------------------ High Yield SIHAX 814291 878 SIHSX 814291 761 ------------------------------------------------------------------------------------------------------------------------------------ Large Cap Value SECIX 814289 104 SEGIX 814289 302 ------------------------------------------------------------------------------------------------------------------------------------ Large Cap Value Institutional --- --- --- --- ------------------------------------------------------------------------------------------------------------------------------------ Mid Cap Growth SECUX 815174 107 SUFCX 815174 305 ------------------------------------------------------------------------------------------------------------------------------------ Mid Cap Value SEVAX 814219 887 SEVSX 814219 820 ------------------------------------------------------------------------------------------------------------------------------------ Mid Cap Value Institutional --- --- ------------------------------------------------------------------------------------------------------------------------------------ Select 25 SEFAX 814219 739 SSSCX 814219 713 ------------------------------------------------------------------------------------------------------------------------------------ Small Cap Growth SSCAX 814219 861 SESCX 814219 812 ------------------------------------------------------------------------------------------------------------------------------------ Small Cap Value SSUAX 814219 416 SSVCX 814219 390 ------------------------------------------------------------------------------------------------------------------------------------ U.S. Intermediate Bond (formerly Diversified Income) SIUSX 814291 209 SDICX 814291 779 ------------------------------------------------------------------------------------------------------------------------------------
6 SCHEDULE B DATED 1/26/2010 TO THE SHAREHOLDER SERVICES AGREEMENT DATED ________ BETWEEN RYDEX DISTRIBUTORS, INC. AND [FIRM NAME] SERVICE FEES. The following fees are due and payable monthly pursuant to Section 11 of this Shareholder Services Agreement: CLASS SERVICE FEES (PURSUANT TO RULE 12B-1) Investor None Advisor 0.25% (25 basis points) A 0.25% (25 basis points) C 1.00% (divided into 75 basis points for distribution services and 25 basis points for shareholder services) H 0.25% (25 basis points) In no event will the fee for performing shareholder services exceed 0.25% (25 basis points) of average daily net assets with respect to Advisor Class, A-Class and C-Class Shares. To the extent the Distributor waives any payments payable to the Distributor under such Distribution Plan, the amounts payable to you will also be reduced. Agreed to and accepted by: RYDEX DISTRIBUTORS INC. [DEALER FIRM] Print Name:____________________________ Print Name:_______________________ Title:__________________________________ Title:____________________________ Date: __________________________________ Date: ____________________________ 7 SCHEDULE C DATED 1/26/2010 TO THE SHAREHOLDER SERVICES AGREEMENT DATED ________ BETWEEN RYDEX DISTRIBUTORS, INC. AND [FIRM NAME] Each Rydex|SGI Fund is registered and its Shares are qualified for sale in the following states and jurisdictions(1) as of 1/26/2010. Alabama Montana Alaska Nebraska Arizona New Hampshire Arkansas New Jersey California New York Colorado Nevada Connecticut New Mexico Delaware North Carolina Florida North Dakota Georgia Ohio Hawaii Oklahoma Idaho Oregon Illinois Pennsylvania Indiana Puerto Rico Iowa Rhode Island Kansas South Carolina Kentucky South Dakota Louisiana Tennessee Maine Texas Maryland Utah Massachusetts Vermont Michigan Virginia Minnesota Washington Mississippi West Virginia Missouri Wisconsin Wyoming District of Columbia Guam(2) -------------- (1) We assume no responsibility or obligation as to your right to offer or sell Shares in any state or jurisdiction. (2) Rydex|SGI Funds formerly known as the "Security Funds" are not qualified for sale in Guam