8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 29, 2008

NORTHERN TRUST CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	0-5965	36-2723087
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

50 South LaSalle Street, Chicago, Illinois	60603
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (312) 630-6000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off–Balance Sheet Arrangement of a Registrant.

In accordance with its previously reported announcement of actions to support clients in light of the current turbulent market conditions, on September 29, 2008, Northern Trust Corporation (the “Corporation”) entered into (i) a Capital Support Agreement with The Northern Trust Company on behalf of The Northern Trust Company Common Short Term Investment Fund (the “Common STIF”) and (ii) amendments to (and, in one case, a restatement of) certain Capital Support Agreements it entered into on February 21, 2008 and first amended on July 15, 2008 with certain registered investment companies, pooled cash funds organized as Undertakings for the Collective Investment of Transferable Securities, and commingled cash funds (collectively with the Common STIF, the “Funds”). The purpose of these actions is to enable the Funds to continue to maintain a stable net asset value of $1.00 per unit. A copy of the Capital Support Agreement with the Common STIF is filed as Exhibit 10.1 hereto. Copies of the amendments (or amendment and restatement) entered into with the other Funds are filed as Exhibits 10.2 through 10.8 hereto.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

10.1	Capital Support Agreement, dated September 29, 2008, between Northern Trust Corporation and The Northern Trust Company on behalf of The Northern Trust Company Common Short Term Investment Fund
10.2	Amendment No. 2 to Capital Support Agreement, dated September 29, 2008, between Northern Trust Corporation and Northern Institutional Funds on behalf of its series the Prime Obligations Portfolio
10.3	Amendment No. 2 to Capital Support Agreement, dated September 29, 2008, between Northern Trust Corporation and Northern Institutional Funds on behalf of its series the Diversified Assets Portfolio
10.4	Amendment No. 2 to Capital Support Agreement, dated September 29, 2008, between Northern Trust Corporation and Northern Institutional Funds on behalf of its series the Liquid Assets Portfolio
10.5	Amendment No. 2 to Capital Support Agreement, dated September 29, 2008, between Northern Trust Corporation and Northern Funds on behalf of its series the Money Market Fund

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10.6	Amendment No. 2 to Capital Support Agreement, dated September 29, 2008, between Northern Trust Corporation and Northern Trust Global Funds plc on behalf of its sub-fund The Sterling Fund
10.7	Amendment No. 2 to Capital Support Agreement, dated September 29, 2008 between Northern Trust Corporation and Northern Trust Global Funds plc on behalf of its sub-fund The US Dollar Fund
10.8	Amended and Restated Capital Support Agreement, dated September 29, 2008, between Northern Trust Corporation and Northern Trust Investments, N.A., as Trustee on behalf of the NTGI Collective Short Term Investment Fund

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	NORTHERN TRUST CORPORATION (Registrant)
Date: October 3, 2008	By:	/s/ Steven L. Fradkin
		Steven L. Fradkin
		Executive Vice President and Chief Financial Officer

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EXHIBIT INDEX

10.1	Capital Support Agreement, dated September 29, 2008, between Northern Trust Corporation and The Northern Trust Company on behalf of The Northern Trust Company Common Short Term Investment Fund
10.2	Amendment No. 2 to Capital Support Agreement, dated September 29, 2008, between Northern Trust Corporation and Northern Institutional Funds on behalf of its series the Prime Obligations Portfolio
10.3	Amendment No. 2 to Capital Support Agreement, dated September 29, 2008, between Northern Trust Corporation and Northern Institutional Funds on behalf of its series the Diversified Assets Portfolio
10.4	Amendment No. 2 to Capital Support Agreement, dated September 29, 2008, between Northern Trust Corporation and Northern Institutional Funds on behalf of its series the Liquid Assets Portfolio
10.5	Amendment No. 2 to Capital Support Agreement, dated September 29, 2008, between Northern Trust Corporation and Northern Funds on behalf of its series the Money Market Fund
10.6	Amendment No. 2 to Capital Support Agreement, dated September 29, 2008, between Northern Trust Corporation and Northern Trust Global Funds plc on behalf of its sub-fund The Sterling Fund
10.7	Amendment No. 2 to Capital Support Agreement, dated September 29, 2008 between Northern Trust Corporation and Northern Trust Global Funds plc on behalf of its sub-fund The US Dollar Fund
10.8	Amended and Restated Capital Support Agreement, dated September 29, 2008, between Northern Trust Corporation and Northern Trust Investments, N.A., as Trustee on behalf of the NTGI Collective Short Term Investment Fund

EX-10.1

Exhibit 10.1

CAPITAL SUPPORT AGREEMENT

THIS CAPITAL SUPPORT AGREEMENT (this “Agreement”) is made as of September 29, 2008, by and between Northern Trust Corporation (the “Support Provider”) and The Northern Trust Company (“TNT”) as trustee on behalf of The Northern Trust Company Common Short Term Investment Fund (the “Fund”).

W I T N E S S E T H:

WHEREAS, the Fund is a bank maintained common fund for which TNT is trustee that seeks to maintain a stable net asset value of $1.00 per unit and to value the Fund’s assets on an amortized cost rather than market value basis, all pursuant to the applicable regulations of the Office of the Comptroller of the Currency contained in 12 C.F.R. Section 9.18 (“OCC Regulations”);

WHEREAS, the Fund holds Impaired Assets, as defined below;

WHEREAS, a sale of the Impaired Assets under current market conditions is unlikely to result in the full recovery of the Fund’s investments, and may cause the Fund to realize losses to the extent that it could no longer maintain a stable net asset value of $1.00 per unit;

WHEREAS, it is in the interest of the Support Provider and certain of its affiliates for the Fund to maintain a stable net asset value of $1.00 per unit;

NOW, THEREFORE, in consideration of the above premises, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the Support Provider and TNT hereby agree as follows:

1. Definitions. In addition to the terms defined elsewhere in this Agreement, the following terms have the meanings indicated:

(a) “Amortized Cost Value” means, with respect to any Impaired Asset held by the Fund, the value of that Impaired Asset as determined using the amortized cost method (“Amortized Cost Method”) in accordance with OCC Regulations on the relevant date.

(b) “Capital Contribution” means a cash contribution by the Support Provider to the Fund for which the Support Provider does not receive any units or other consideration from the Fund.

(c) “Contribution Event” means, with respect to any Impaired Asset held by the Fund, any of the following occurrences:

(i) Any sale of the Impaired Asset by the Fund for cash in an amount, after deduction of any commissions or similar transaction costs, less than the Amortized Cost Value of the Impaired Asset sold as of the date of settlement;

(ii) Receipt of final payment on the Impaired Asset in an amount less than the Amortized Cost Value of that Impaired Asset as of the date such payment is received; or

(iii) Issuance of orders by a court having jurisdiction over the matter discharging the issuer from liability for the Impaired Asset and providing for payments on that Impaired Asset in an amount less than the Amortized Cost Value of that Impaired Asset as of the date such payment is received.

The excess of the Amortized Cost Value of the Impaired Assets subject to a Contribution Event over the amount received by the Fund in connection with such Contribution Event shall constitute the “Loss” on such Impaired Assets.

(d) “Impaired Assets” means any security held in the Fund’s portfolio as of the date of this Agreement where the market price for such security is or becomes below the Amortized Cost Value for such security by 0.001%.

(e) “Maximum Contribution Amount” means ten million dollars ($10,000,000). The Maximum Contribution Amount may be amended at any time as agreed by TNT and the Support Provider.

(f) “Required Capital Contribution” means for the Fund on the date of any Contribution Event, a Capital Contribution in an amount sufficient for the Fund to maintain its net asset value per unit at no less than the Minimum Permissible NAV, after giving effect to the Contribution Event and all payments received by the Fund in respect of the Impaired Assets. The net asset value for purposes of calculating the amount of Required Capital Contribution shall exclude any account receivable or other asset representing the Support Provider’s obligations under this Agreement. Minimum Permissible NAV means the greater of (i) such minimum net asset value as determined by TNT will meet the requirements of the OCC Regulations with respect to valuation of the Fund pursuant to the Amortized Cost Method or (ii) $0.9990/unit.

2. Covenants of the Fund. The Fund agrees that:

(a) To the extent consistent with the Fund’s interest, TNT shall consult with the Support Provider with respect to all decisions regarding each Impaired Asset (including, but not limited to, any decision to sell the Impaired Asset or to forgo the right to any payment) prior to the occurrence of a Contribution Event with respect to that Impaired Asset. Nothing in this Agreement shall be construed to cause the delegation by TNT to any person any authority which is not permitted to be delegated under OCC Regulations.

(b) The Fund will retain any Capital Contribution and not include the Capital Contribution in any dividend or other distribution to the Fund’s participants. For the avoidance of doubt, for purposes of this subparagraph, the withdrawal of the Fund’s units shall not constitute a “distribution” to Fund participants.

(c) The Fund will promptly sell the Impaired Assets upon the earlier of (i) any change in the Support Provider’s short term credit ratings such that the Support Provider’s obligations no longer qualify as First Tier Securities as defined in paragraph (a)(12) of Rule 2a-7 under the Investment Company Act of 1940, as amended, or (ii) on the business day immediately prior to the date set forth in subparagraph 3(c)(iii); provided, however, the Fund shall not have to sell the Impaired Assets, on such date, if TNT, on behalf of the Fund, determines it is in the best interests of the Fund’s unitholders to maintain such Impaired Assets in the Fund and the

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Support Provider makes a Capital Contribution related to any Impaired Assets not sold of the lesser of (1) the amount necessary, if any, so that the Fund’s market based net asset value is equal to the Minimum Permissible NAV after taking into account any Capital Contributions made on Impaired Assets sold on such date or (2) the Maximum Contribution Amount reduced by the amount of any Capital Contribution previously made on such date or earlier by the Support Provider.

3. Contributions to the Fund.

(a) If a Contribution Event occurs prior to the occurrence of a Termination Event (defined below), the Support Provider will make a Capital Contribution to the Fund in the amount equal to the least of (i) the Loss incurred as a result of the Contribution Event, (ii) the Required Capital Contribution, or (iii) the Maximum Contribution Amount reduced by the amount of any Capital Contribution previously made by the Support Provider to the Fund.

(b) The Support Provider shall make the Capital Contribution to the Fund not later than one business day after the occurrence of a Contribution Event, by 12:00 noon, Eastern Time. Each Capital Contribution made hereunder shall be made in immediately available funds, without deduction, set-off or counterclaim, to the Fund.

(c) The obligation of the Support Provider to make Capital Contributions pursuant to this Agreement with respect to the Fund shall terminate upon the earlier of (such occurrence, the “Termination Event”): (i) the Support Provider has made Capital Contributions equal to the Maximum Contribution Amount, (ii) the Fund no longer holds Impaired Assets, or (iii) 5:00 p.m. Eastern Time on February 28, 2009 or such later date as agreed upon by the Support Provider and TNT.

4. Reliance by the Fund and TNT. The Support Provider acknowledges and consents to:

(a) TNT’s reliance on the Support Provider’s obligations under this Agreement in making any determination required under OCC Regulations;

(b) For purposes of calculating the Fund’s daily net asset value calculated in accordance with procedures adopted by TNT in compliance with OCC Regulations, the inclusion of the Capital Contribution that would be payable to the Fund under this Agreement if all of the Impaired Assets were sold on the date of such net asset value calculation; and

(c) The inclusion of the Capital Contribution that would be payable to the Fund under this Agreement if all of the Impaired Assets were sold on the date of such net asset value calculation in the Fund’s audited or unaudited financial statements, to the extent required by generally accepted accounting principles.

5. Representations and Warranties. The Support Provider hereby represents and warrants that:

(a) It is duly organized and validly existing under the laws of the jurisdiction of its organization or incorporation and, if relevant under such laws, in good standing;

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(b) It has the power to execute this Agreement, to deliver this Agreement and to perform its obligations under this Agreement and has taken all necessary action to authorize such execution, delivery and performance;

(c) Such execution, delivery and performance do not violate or conflict with any law applicable to it, any provision of its constitutional documents, any order or judgment of any court or other agency of government applicable to it or any of its assets or any contractual restriction binding on or affecting it or any of its assets;

(d) All governmental and other consents that are required to have been obtained by it with respect to this Agreement to which it is a party have been obtained and are in full force and effect and all conditions of any such consents have been complied with; and

(e) Its obligations under this Agreement constitute its legal, valid and binding obligations, enforceable in accordance with their respective terms (subject to applicable bankruptcy, reorganization, insolvency, moratorium or similar laws affecting creditors’ rights generally and subject, as to enforceability, to equitable principles of general application (regardless of whether enforcement is sought in a proceeding in equity or at law)).

(f) It has obtained short-term credit ratings of A-1 from Standard & Poor’s, P-1 from Moody’s Investors Services and F-1 from Fitch Ratings.

6. General.

(a) Neither party may assign its rights under this Agreement to any person or entity, in whole or in part, without the prior written consent of the other party.

(b) No waiver of any provision hereof or of any right or remedy hereunder shall be effective unless in writing and signed by the party against whom such waiver is sought to be enforced. No delay in exercising, no course of dealing with respect to or no partial exercise of any right or remedy hereunder shall constitute a waiver of any other right or remedy, or future exercise thereof.

(c) If any provision of this Agreement is determined to be invalid under any applicable statute or rule of law, it is to that extent to be deemed omitted, and the balance of the Agreement shall remain enforceable.

(d) Subject to the next sentence, all notices shall be in writing and shall be deemed to be delivered when received by certified mail, postage prepaid, return receipt requested, or when sent by facsimile or e-mail confirmed by call back. All notices shall be directed to the address set forth under the party’s signature or to such other address as either party may, from time to time, designate by notice to the other party.

(e) No amendment, change, waiver or discharge hereof shall be valid unless in writing and signed by the Support Provider and TNT, as trustee on behalf of the Fund.

(f) This Agreement shall be governed in all respects by the laws of the State of Illinois without regard to its conflict of laws provisions.

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(g) This Agreement constitutes the complete and exclusive statement of all mutual understandings between the parties with respect to the subject matter hereof, superseding all prior or contemporaneous proposals, communications and understandings, oral or written.

(h) This Agreement is solely for the benefit of the Fund, and no other person shall acquire or have any rights under or by virtue of this Agreement.

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IN WITNESS WHEREOF, the Support Provider has caused this Capital Support Agreement to be executed as of the date specified above.

NORTHERN TRUST CORPORATION
By:	/s/ William R. Dodds, Jr.
Name:	William R. Dodds, Jr.
Title:	Treasurer
ADDRESS FOR NOTICES:
50 S. LaSalle St.
Chicago, IL 60603
Attn:	William R. Dodds, Jr.
THE NORTHERN TRUST COMPANY, AS TRUSTEE OF THE NORTHERN TRUST COMPANY COMMON SHORT TERM INVESTMENT FUND
By:	/s/ John L. Krieg
Name:	John L. Krieg
Title:	Senior Vice President
ADDRESS FOR NOTICES:
50 S. LaSalle St.
Chicago, IL 60603
Attn: John L. Krieg

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EX-10.2

Exhibit 10.2

AMENDMENT NO. 2 TO

CAPITAL SUPPORT AGREEMENT

This Amendment No. 2 (the “Amendment”) to the Capital Support Agreement, is made as of the 29th day of September 2008, by and between NORTHERN TRUST CORPORATION (the “Support Provider”) and NORTHERN INSTITUTIONAL FUNDS (the “Trust”), on behalf of its series the Prime Obligations Portfolio (the “Fund”).

WHEREAS, the parties have entered into a Capital Support Agreement (the “Agreement”), dated as of February 21, 2008 and amended the Agreement on July 15, 2008; and

WHEREAS, the Support Provider wishes to increase the level of capital support provided to the Fund; and

WHEREAS, the parties desire to further amend the Agreement on the terms and subject to the conditions provided herein;

NOW THEREFORE, the parties, intending to be legally bound, hereby agree as follows:

1. Unless otherwise expressly provided herein, capitalized terms shall have the meanings assigned to them in the Agreement.

2. Section 1(e) of the Agreement is hereby deleted in its entirety and replaced as set forth below:

(e) “Maximum Contribution Amount” means thirty million dollars ($30,000,000). The Maximum Contribution Amount may be increased at any time as agreed by the Trust and the Support Provider.

3. Section 3(a) of the Agreement is hereby deleted in its entirety and replaced as set forth below:

(a) If a Contribution Event occurs prior to the occurrence of a Termination Event (defined below), the Support Provider will make a Capital Contribution to the Fund in the amount equal to the least of (i) the Loss incurred as a result of Contribution Event; or (ii) the Maximum Contribution Amount reduced by the amount of any Capital Contribution previously made by the Support Provider to the Fund.

IN WITNESS WHEREOF, the parties caused this Amendment No. 2 to the Capital Support Agreement to be executed as of the date specified above.

NORTHERN TRUST CORPORATION
By:	/s/ William R. Dodds, Jr.
Name:	William R. Dodds, Jr.
Title:	Treasurer
ADDRESS FOR NOTICES:
50 S. LaSalle St.
Chicago, IL 60603
Attn:	William R. Dodds, Jr.
NORTHERN INSTITUTIONAL FUNDS FOR AND ON BEHALF OF ITS PRIME OBLIGATIONS PORTFOLIO
By:	/s/ Lloyd A. Wennlund
Name:	Lloyd A. Wennlund
Title:	President
ADDRESS FOR NOTICES:
50 S. LaSalle St.
Chicago, IL 60603
Attn:	Lloyd A. Wennlund

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EX-10.3

Exhibit 10.3

AMENDMENT NO. 2 TO

CAPITAL SUPPORT AGREEMENT

This Amendment No. 2 (the “Amendment”) to the Capital Support Agreement, is made as of the 29th day of September 2008, by and between NORTHERN TRUST CORPORATION (the “Support Provider”) and NORTHERN INSTITUTIONAL FUNDS (the “Trust”), on behalf of its series the Diversified Assets Portfolio (the “Fund”).

WHEREAS, the parties have entered into a Capital Support Agreement (the “Agreement”), dated as of February 21, 2008 and amended the Agreement on July 15, 2008; and

WHEREAS, the Support Provider wishes to increase the level of capital support provided to the Fund; and

WHEREAS, the parties desire to further amend the Agreement on the terms and subject to the conditions provided herein;

NOW THEREFORE, the parties, intending to be legally bound, hereby agree as follows:

1. Unless otherwise expressly provided herein, capitalized terms shall have the meanings assigned to them in the Agreement.

2. Section 1(e) of the Agreement is hereby deleted in its entirety and replaced as set forth below:

(e) “Maximum Contribution Amount” means ninety million dollars ($90,000,000). The Maximum Contribution Amount may be increased at any time as agreed by the Trust and the Support Provider.

3. Section 3(a) of the Agreement is hereby deleted in its entirety and replaced as set forth below:

(a) If a Contribution Event occurs prior to the occurrence of a Termination Event (defined below), the Support Provider will make a Capital Contribution to the Fund in the amount equal to the least of (i) the Loss incurred as a result of Contribution Event; or (ii) the Maximum Contribution Amount reduced by the amount of any Capital Contribution previously made by the Support Provider to the Fund.

IN WITNESS WHEREOF, the parties caused this Amendment No. 2 to the Capital Support Agreement to be executed as of the date specified above.

NORTHERN TRUST CORPORATION
By:	/s/ William R. Dodds, Jr.
Name:	William R. Dodds, Jr.
Title:	Treasurer
ADDRESS FOR NOTICES:
50 S. LaSalle St.
Chicago, IL 60603
Attn:	William R. Dodds, Jr.
NORTHERN INSTITUTIONAL FUNDS FOR AND ON BEHALF OF ITS DIVERSIFIED ASSETS PORTFOLIO
By:	/s/ Lloyd A. Wennlund
Name:	Lloyd A. Wennlund
Title:	President
ADDRESS FOR NOTICES:
50 S. LaSalle St.
Chicago, IL 60603
Attn:	Lloyd A. Wennlund

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EX-10.4

Exhibit 10.4

AMENDMENT NO. 2 TO

CAPITAL SUPPORT AGREEMENT

This Amendment No. 2 (the “Amendment”) to the Capital Support Agreement, is made as of the 29th day of September 2008, by and between NORTHERN TRUST CORPORATION (the “Support Provider”) and NORTHERN INSTITUTIONAL FUNDS (the “Trust”), on behalf of its series the Liquid Assets Portfolio (the “Fund”).

WHEREAS, the parties have entered into a Capital Support Agreement (the “Agreement”), dated as of February 21, 2008 and amended the Agreement on July 15, 2008; and

WHEREAS, the parties desire to further amend the Agreement on the terms and subject to the conditions provided herein.

NOW THEREFORE, the parties, intending to be legally bound, hereby agree as follows:

1. Unless otherwise expressly provided herein, capitalized terms shall have the meanings assigned to them in the Agreement.

2. Section 1(f) of the Agreement is hereby deleted in its entirety and replaced as set forth below:

(f) “Required Capital Contribution” means for the Fund on the date of any Contribution Event, a Capital Contribution in an amount sufficient for the Fund to maintain its net asset value per share at no less than the Minimum Permissible NAV, after giving effect to the Contribution Event and all payments received by the Fund in respect of the Eligible Notes. The net asset value for purposes of calculating the amount of Required Capital Contribution shall exclude any account receivable or other asset representing the Support Provider’s obligations under this Agreement. Minimum Permissible NAV means $0.9990.

IN WITNESS WHEREOF, the parties caused this Amendment No. 2 to the Capital Support Agreement to be executed as of the date specified above.

NORTHERN TRUST CORPORATION
By:	/s/ William R. Dodds, Jr.
Name:	William R. Dodds, Jr.
Title:	Treasurer
ADDRESS FOR NOTICES:
50 S. LaSalle St.
Chicago, IL 60603
Attn:	William R. Dodds, Jr.
NORTHERN INSTITUTIONAL FUNDS FOR AND ON BEHALF OF ITS LIQUID ASSETS PORTFOLIO
By:	/s/ Lloyd A. Wennlund
Name:	Lloyd A. Wennlund
Title:	President
ADDRESS FOR NOTICES:
50 S. LaSalle St.
Chicago, IL 60603
Attn:	Lloyd A. Wennlund

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EX-10.5

Exhibit 10.5

AMENDMENT NO. 2 TO

CAPITAL SUPPORT AGREEMENT

This Amendment No. 2 (the “Amendment”) to the Capital Support Agreement, is made as of the 29th day of September 2008, by and between NORTHERN TRUST CORPORATION (the “Support Provider”) and NORTHERN FUNDS (the “Trust”), on behalf of its series the Money Market Fund (the “Fund”).

WHEREAS, the parties have entered into a Capital Support Agreement (the “Agreement”), dated as of February 21, 2008 and amended the Agreement on July 15, 2008; and

WHEREAS, the parties desire to further amend the Agreement on the terms and subject to the conditions provided herein.

NOW THEREFORE, the parties, intending to be legally bound, hereby agree as follows:

1. Unless otherwise expressly provided herein, capitalized terms shall have the meanings assigned to them in the Agreement.

2. Section 1(f) of the Agreement is hereby deleted in its entirety and replaced as set forth below:

(f) “Required Capital Contribution” means for the Fund on the date of any Contribution Event, a Capital Contribution in an amount sufficient for the Fund to maintain its net asset value per share at no less than the Minimum Permissible NAV, after giving effect to the Contribution Event and all payments received by the Fund in respect of the Eligible Notes. The net asset value for purposes of calculating the amount of Required Capital Contribution shall exclude any account receivable or other asset representing the Support Provider’s obligations under this Agreement. Minimum Permissible NAV means $0.9990.

IN WITNESS WHEREOF, the parties caused this Amendment No. 2 to the Capital Support Agreement to be executed as of the date specified above.

NORTHERN TRUST CORPORATION
By:	/s/ William R. Dodds, Jr.
Name:	William R. Dodds, Jr.
Title:	Treasurer
ADDRESS FOR NOTICES:
50 S. LaSalle St.
Chicago, IL 60603
Attn: William R. Dodds, Jr.
NORTHERN FUNDS FOR AND ON BEHALF OF ITS MONEY MARKET FUND
By:	/s/ Lloyd A. Wennlund
Name:	Lloyd A. Wennlund
Title:	President
ADDRESS FOR NOTICES:
50 S. LaSalle St.
Chicago, IL 60603
Attn: Lloyd A. Wennlund

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EX-10.6

Exhibit 10.6

AMENDMENT NO. 2 TO

CAPITAL SUPPORT AGREEMENT

This Amendment No. 2 (the “Amendment”) to the Capital Support Agreement, is made as of the 29^th day of September 2008, by and between the Northern Trust Corporation (the “Support Provider”) and Northern Trust Global Funds plc (the “Company”) on behalf of its sub-fund The Sterling Fund (the “Fund”).

WHEREAS, the parties have entered into a Capital Support Agreement (the “Agreement”), dated as of February 21, 2008 and amended the Agreement on July 15, 2008; and

WHEREAS, the Support Provider wishes to increase the level of capital support provided to the Fund; and

WHEREAS, the parties desire to further amend the Agreement on the terms and subject to the conditions provided herein;

NOW THEREFORE, the parties, intending to be legally bound, hereby agree as follows:

1. Unless otherwise expressly provided herein, capitalized terms shall have the meanings assigned to them in the Agreement.

2. Section 1(e) of the Agreement is hereby deleted in its entirety and replaced as set forth below:

(e) “Maximum Contribution Amount” means twenty five million pounds sterling (£25,000,000). The Maximum Contribution Amount may be increased at any time as agreed by the Trust and the Support Provider.

3. Section 3(a) of the Agreement is hereby deleted in its entirety and replaced as set forth below:

(a) If a Contribution Event occurs prior to the occurrence of a Termination Event (defined below), the Support Provider will make a Capital Contribution to the Fund in the amount equal to the least of (i) the Loss incurred as a result of Contribution Event; or (ii) the Maximum Contribution Amount reduced by the amount of any Capital Contribution previously made by the Support Provider to the Fund.

IN WITNESS WHEREOF, the parties caused this Amendment No. 2 to the Capital Support Agreement to be executed as of the date specified above.

NORTHERN TRUST CORPORATION
By:	/s/ William R. Dodds, Jr.
Name:	William R. Dodds, Jr.
Title:	Treasurer
ADDRESS FOR NOTICES:
50 South LaSalle Street
Chicago
Illinois 60675
United States of America
NORTHERN TRUST GLOBAL FUNDS PLC FOR AND ON BEHALF OF THE STERLING FUND
By:	/s/ John Fitzpatrick
Name:	John Fitzpatrick
Title:	Director
ADDRESS FOR NOTICES:
George’s Court
54-62 Townsend Street
Dublin 2
Ireland

EX-10.7

Exhibit 10.7

AMENDMENT NO. 2 TO

CAPITAL SUPPORT AGREEMENT

This Amendment No. 2 (the “Amendment”) to the Capital Support Agreement, is made as of the 29^th day of September 2008, by and between the Northern Trust Corporation (the “Support Provider”) and Northern Trust Global Funds plc (the “Company”) on behalf of its sub-fund The U.S. Dollar Fund (the “Fund”).

WHEREAS, the parties have entered into a Capital Support Agreement (the “Agreement”), dated as of February 21, 2008 and amended the Agreement on July 15, 2008; and

WHEREAS, the Support Provider wishes to increase the level of capital support provided to the Fund; and

WHEREAS, the parties desire to further amend the Agreement on the terms and subject to the conditions provided herein;

NOW THEREFORE, the parties, intending to be legally bound, hereby agree as follows:

1. Unless otherwise expressly provided herein, capitalized terms shall have the meanings assigned to them in the Agreement.

2. Section 1(e) of the Agreement is hereby deleted in its entirety and replaced as set forth below:

(e) “Maximum Contribution Amount” means ninety-five million dollars ($95,000,000). The Maximum Contribution Amount may be increased at any time as agreed by the Trust and the Support Provider.

3. Section 3(a) of the Agreement is hereby deleted in its entirety and replaced as set forth below:

(a) If a Contribution Event occurs prior to the occurrence of a Termination Event (defined below), the Support Provider will make a Capital Contribution to the Fund in the amount equal to the least of (i) the Loss incurred as a result of Contribution Event; or (ii) the Maximum Contribution Amount reduced by the amount of any Capital Contribution previously made by the Support Provider to the Fund.

IN WITNESS WHEREOF, the parties caused this Amendment No. 2 to the Capital Support Agreement to be executed as of the date specified above.

NORTHERN TRUST CORPORATION
By:	/s/ William R. Dodds, Jr.
Name:	William R. Dodds, Jr.
Title:	Treasurer
ADDRESS FOR NOTICES:
50 South LaSalle Street
Chicago
Illinois 60675
United States of America
NORTHERN TRUST GLOBAL FUNDS PLC FOR AND ON BEHALF OF THE U. S. DOLLAR FUND
By:	/s/ John Fitzpatrick
Name:	John Fitzpatrick
Title:	Director
ADDRESS FOR NOTICES:
George’s Court
54-62 Townsend Street
Dublin 2
Ireland

EX-10.8

Exhibit 10.8

AMENDED AND RESTATED

CAPITAL SUPPORT AGREEMENT

THIS AMENDED AND RESTATED CAPITAL SUPPORT AGREEMENT (this “Agreement”) is made as of September 29, 2008, by and between Northern Trust Corporation (the “Support Provider”) and Northern Trust Investments, N.A. (“NTI”), as trustee on behalf of the NTGI Collective Short Term Investment Fund (the “Fund”).

W I T N E S S E T H:

WHEREAS, the Fund is a bank maintained collective fund for which NTI is trustee that seeks to maintain a stable net asset value of $1.00 per unit and to value the Fund’s assets on an amortized cost rather than market value basis, all pursuant to the applicable regulations of the Office of the Comptroller of the Currency contained in 12 C.F.R. Section 9.18 (“OCC Regulations”);

WHEREAS, the Support Provider and NTI, on behalf of the Fund, had entered into a Capital Support Agreement dated as of February 21, 2008 and amended as of July 15, 2008 providing support in connection with notes (the “Notes”) issued by Whistlejacket Capital LLC and/or White Pine Finance LLC, and the parties now seek to extend the scope of the Capital Support Agreement to include support for Impaired Assets, as defined below;

WHEREAS, a sale of the Impaired Assets under current market conditions is unlikely to result in the full recovery of the Fund’s investments, and may cause the Fund to realize losses to the extent that it could no longer maintain a stable net asset value of $1.00 per unit;

WHEREAS, it is in the interest of the Support Provider and certain of its affiliates for the Fund to maintain a stable net asset value of $1.00 per unit;

NOW, THEREFORE, in consideration of the above premises, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the Support Provider and NTI hereby agree as follows:

1. Definitions. In addition to the terms defined elsewhere in this Agreement, the following terms have the meanings indicated:

(a) “Amortized Cost Value” means, with respect to any Impaired Asset held by the Fund, the value of that Impaired Asset as determined using the amortized cost method (“Amortized Cost Method”) in accordance with OCC Regulations on the relevant date.

(b) “Capital Contribution” means a cash contribution by the Support Provider to the Fund for which the Support Provider does not receive any units or other consideration from the Fund.

(c) “Contribution Event” means, with respect to any Impaired Asset held by the Fund, any of the following occurrences:

(i) Any sale of the Impaired Asset by the Fund for cash in an amount, after deduction of any commissions or similar transaction costs, less than the Amortized Cost Value of the Impaired Asset sold as of the date of settlement;

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(ii) Receipt of final payment on the Impaired Asset in an amount less than the Amortized Cost Value of that Impaired Asset as of the date such payment is received; or

(iii) Issuance of orders by a court having jurisdiction over the matter discharging the issuer from liability for the Impaired Asset and providing for payments on that Impaired Asset in an amount less than the Amortized Cost Value of that Impaired Asset as of the date such payment is received.

The excess of the Amortized Cost Value of the Impaired Assets subject to a Contribution Event over the amount received by the Fund in connection with such Contribution Event shall constitute the “Loss” on such Impaired Assets.

(d) “Impaired Assets” means any security held in the Fund’s portfolio as of the date of this Agreement where the market price for such security is or becomes below the Amortized Cost Value for such security by 0.001%.

(e) “Maximum Contribution Amount” means two hundred twelve million five hundred thousand dollars ($212,500,000). The Maximum Contribution Amount may be amended at any time as agreed by NTI and the Support Provider.

(f) “Required Capital Contribution” means for the Fund on the date of any Contribution Event, a Capital Contribution in an amount sufficient for the Fund to maintain its net asset value per unit at no less than the Minimum Permissible NAV, after giving effect to the Contribution Event and all payments received by the Fund in respect of the Impaired Assets. The net asset value for purposes of calculating the amount of Required Capital Contribution shall exclude any account receivable or other asset representing the Support Provider’s obligations under this Agreement. Minimum Permissible NAV means the greater of (i) such minimum net asset value as determined by NTI will meet the requirements of the OCC Regulations with respect to valuation of the Fund pursuant to the Amortized Cost Method or (ii) $0.9990/unit.

2. Covenants of the Fund. The Fund agrees that:

(a) To the extent consistent with the Fund’s interest, NTI shall consult with the Support Provider with respect to all decisions regarding each Impaired Asset (including, but not limited to, any decision to sell the Impaired Asset or to forgo the right to any payment) prior to the occurrence of a Contribution Event with respect to that Impaired Asset. Nothing in this Agreement shall be construed to cause the delegation by NTI to any person any authority which is not permitted to be delegated under OCC Regulations.

(b) The Fund will retain any Capital Contribution and not include the Capital Contribution in any dividend or other distribution to the Fund’s participants. For the avoidance of doubt, for purposes of this subparagraph, the withdrawal of the Fund’s units shall not constitute a “distribution” to Fund participants.

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(c) The Fund will promptly sell the Impaired Assets upon the earlier of (i) any change in the Support Provider’s short term credit ratings such that the Support Provider’s obligations no longer qualify as First Tier Securities as defined in paragraph (a)(12) of Rule 2a-7 under the Investment Company Act of 1940, as amended, or (ii) on the business day immediately prior to the date set forth in subparagraph 3(c)(iii); provided, however, the Fund shall not have to sell the Impaired Assets, on such date, if NTI, on behalf of the Fund, determines it is in the best interests of the Fund’s unitholders to maintain such Impaired Assets in the Fund and the Support Provider makes a Capital Contribution related to any Impaired Assets not sold of the lesser of (1) the amount necessary, if any, so that the Fund’s market based net asset value is equal to the Minimum Permissible NAV after taking into account any Capital Contributions made on Impaired Assets sold on such date or (2) the Maximum Contribution Amount reduced by the amount of any Capital Contribution previously made on such date or earlier by the Support Provider.

3. Contributions to the Fund.

(a) If a Contribution Event occurs prior to the occurrence of a Termination Event (defined below), the Support Provider will make a Capital Contribution to the Fund in the amount equal to the least of (i) the Loss incurred as a result of the Contribution Event, (ii) the Required Capital Contribution, or (iii) the Maximum Contribution Amount reduced by the amount of any Capital Contribution previously made by the Support Provider to the Fund.

(b) The Support Provider shall make the Capital Contribution to the Fund not later than one business day after the occurrence of a Contribution Event, by 12:00 noon, Eastern Time. Each Capital Contribution made hereunder shall be made in immediately available funds, without deduction, set-off or counterclaim, to the Fund.

(c) The obligation of the Support Provider to make Capital Contributions pursuant to this Agreement with respect to the Fund shall terminate upon the earlier of (such occurrence, the “Termination Event”): (i) the Support Provider has made Capital Contributions equal to the Maximum Contribution Amount, (ii) the Fund no longer holds Impaired Assets, or (iii) 5:00 p.m. Eastern Time on February 28, 2009 or such later date as agreed upon by the Support Provider and NTI.

4. Reliance by the Fund and NTI. The Support Provider acknowledges and consents to:

(a) NTI’s reliance on the Support Provider’s obligations under this Agreement in making any determination required under OCC Regulations;

(b) For purposes of calculating the Fund’s daily net asset value calculated in accordance with procedures adopted by NTI in compliance with OCC Regulations, the inclusion of the Capital Contribution that would be payable to the Fund under this Agreement if all of the Impaired Assets were sold on the date of such net asset value calculation; and

(c) The inclusion of the Capital Contribution that would be payable to the Fund under this Agreement if all of the Impaired Assets were sold on the date of such net asset value calculation in the Fund’s audited or unaudited financial statements, to the extent required by generally accepted accounting principles.

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5. Representations and Warranties. The Support Provider hereby represents and warrants that:

(a) It is duly organized and validly existing under the laws of the jurisdiction of its organization or incorporation and, if relevant under such laws, in good standing;

(b) It has the power to execute this Agreement, to deliver this Agreement and to perform its obligations under this Agreement and has taken all necessary action to authorize such execution, delivery and performance;

(c) Such execution, delivery and performance do not violate or conflict with any law applicable to it, any provision of its constitutional documents, any order or judgment of any court or other agency of government applicable to it or any of its assets or any contractual restriction binding on or affecting it or any of its assets;

(d) All governmental and other consents that are required to have been obtained by it with respect to this Agreement to which it is a party have been obtained and are in full force and effect and all conditions of any such consents have been complied with; and

(e) Its obligations under this Agreement constitute its legal, valid and binding obligations, enforceable in accordance with their respective terms (subject to applicable bankruptcy, reorganization, insolvency, moratorium or similar laws affecting creditors’ rights generally and subject, as to enforceability, to equitable principles of general application (regardless of whether enforcement is sought in a proceeding in equity or at law)).

(f) It has obtained short-term credit ratings of A-1 from Standard & Poor’s, P-1 from Moody’s Investors Services and F-1 from Fitch Ratings.

6. General.

(a) Neither party may assign its rights under this Agreement to any person or entity, in whole or in part, without the prior written consent of the other party.

(b) No waiver of any provision hereof or of any right or remedy hereunder shall be effective unless in writing and signed by the party against whom such waiver is sought to be enforced. No delay in exercising, no course of dealing with respect to or no partial exercise of any right or remedy hereunder shall constitute a waiver of any other right or remedy, or future exercise thereof.

(c) If any provision of this Agreement is determined to be invalid under any applicable statute or rule of law, it is to that extent to be deemed omitted, and the balance of the Agreement shall remain enforceable.

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(d) Subject to the next sentence, all notices shall be in writing and shall be deemed to be delivered when received by certified mail, postage prepaid, return receipt requested, or when sent by facsimile or e-mail confirmed by call back. All notices shall be directed to the address set forth under the party’s signature or to such other address as either party may, from time to time, designate by notice to the other party.

(e) No amendment, change, waiver or discharge hereof shall be valid unless in writing and signed by the Support Provider and NTI, as trustee on behalf of the Fund.

(f) This Agreement shall be governed in all respects by the laws of the State of Illinois without regard to its conflict of laws provisions.

(g) This Agreement constitutes the complete and exclusive statement of all mutual understandings between the parties with respect to the subject matter hereof, superseding all prior or contemporaneous proposals, communications and understandings, oral or written.

(h) This Agreement is solely for the benefit of the Fund, and no other person shall acquire or have any rights under or by virtue of this Agreement.

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IN WITNESS WHEREOF, the Support Provider has caused this Capital Support Agreement to be executed as of the date specified above.

NORTHERN TRUST CORPORATION
By:	/s/ William R. Dodds, Jr.
Name:	William R. Dodds, Jr.
Title:	Treasurer
ADDRESS FOR NOTICES:
50 S. LaSalle St.
Chicago, IL 60603
Attn:	William R. Dodds, Jr.
NORTHERN TRUST INVESTMENTS, N.A., AS TRUSTEE OF THE NTGI COLLECTIVE SHORT TERM INVESTMENT FUND
By:	/s/ John L. Krieg
Name:	John L. Krieg
Title:	Senior Vice President
ADDRESS FOR NOTICES:
50 S. LaSalle St.
Chicago, IL 60603
Attn:	John L. Krieg

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