Common use of Disclaimer of Shareholder and Trustee Liability Clause in Contracts

Disclaimer of Shareholder and Trustee Liability. The Distributor understands that the obligations of the Fund under this Plan are not binding upon any Trustee or shareholder of the Fund personally, but bind only the Fund and the Fund's property. The Distributor represents that it has notice of the provisions of the Declaration of Trust of the Fund disclaiming shareholder and Trustee liability for acts or obligations of the Fund. Oppenheimer Principal Protect▇▇ ▇▇▇▇ ▇▇▇eet Fund II(R), a series of Oppenheimer Principal Protect▇▇ ▇▇▇▇▇ II By: /s/ Robert G. Zack ________________________ Robert G. Zack, Vice Presiden▇ & ▇▇▇▇▇▇▇▇▇ OppenheimerFunds Distributor, Inc.

Disclaimer of Shareholder and Trustee Liability. The Distributor understands that the obligations of the Fund under this Plan are not binding upon any Trustee or shareholder of the Fund personally, but bind only the Fund and the Fund's property. The Distributor represents that it has notice of the provisions of the Declaration of Trust of the Fund disclaiming Trustee and shareholder and Trustee liability for acts or obligations of the Fund. Oppenheimer Principal Protect▇▇ ▇▇▇▇ ▇▇▇eet Fund II(R), FundII(R) a series of Oppenheimer Principal Protect▇▇ ▇▇▇▇▇▇▇ II By: /s/ Robert G. Zack ________________________ Robert G. Zack, Vice Presiden▇ & ▇▇▇▇▇▇▇▇▇ OppenheimerFunds Distributor, Inc.

Disclaimer of Shareholder and Trustee Liability. The Distributor understands that the obligations of the Fund under this Plan are not binding upon any Trustee or shareholder of the Fund personally, but bind only the Fund and the Fund's property. The Distributor represents that it has notice of the provisions of the Declaration of Trust of the Fund disclaiming Trustee and shareholder and Trustee liability for acts or obligations of the Fund. Oppenheimer Principal Protect▇▇ Prote▇▇▇▇ ▇▇▇eet ▇ Street Fund II(R), III a series of Oppenheimer Principal ProtectProte▇▇▇▇ ▇▇▇▇▇ II III(R) By: /s/ Robert G. Zack _____________________________ Robert G. Zack, Vice Presiden▇ & ▇▇▇ ▇▇▇▇▇▇▇▇▇ y OppenheimerFunds Distributor, Inc.

Disclaimer of Shareholder and Trustee Liability. The Distributor understands that the obligations of the Fund under this Plan are not binding upon any Trustee or shareholder of the Fund personally, but bind only the Fund and the Fund's property. The Distributor represents that it has notice of the provisions of the Declaration of Trust of the Fund disclaiming shareholder and Trustee liability for acts or obligations of the Fund. Oppenheimer Principal Protect▇▇ ▇▇▇▇ ▇▇▇eet Fund II(R), III a series of Oppenheimer Principal Protect▇▇ ▇▇▇▇▇ II ▇▇I By: /s/ Robert G. Zack ________________________ Robert G. Zack, Vice Presiden▇ & ▇▇▇▇▇▇▇▇▇ OppenheimerFunds Distributor, Inc.