Common use of Optional Services Clause in Contracts

Optional Services. The Funds may contract with UMBFS to provide one or more of the following optional services. Additional fees apply. · UMBFS’ Internet services, including Adviser Services, RIA/Broker Services, Shareholder Services, NAV Services, Vision, Adviser Central and email services. · UMBISG VRU services (per fund group) · Shareholder “welcome” packages with initial confirmation · Access to UMBFS’ Tax and Retirement Group to answer questions and coordinate retirement plan options · Money market funds for short-term investment or exchanges · Dedicated service representatives · Weekend and holiday shareholder services · Customized reorder form tracking · Give dealers access through NSCC’s Fund/SERV and Networking · Customized forms and applications · Training of adviser staff on regulatory developments · Annual base fee, per fund $ 20,000 · Share classes in addition to the first (per month, per class) $ 500 · Open account fee: · Quarterly/annual dividend funds $ 12.00 · Monthly dividend funds $ 12.00 · Daily dividend funds $ 12.00 · Matrix level 3 accounts $ 8.50 · Closed account fee (per year) $ 3.00 · One-time set-up (manual, per account) $ 3.00 · One-time set-up (automated NSCC, per account) $ 1.50 · Transaction fee (e.g., financial, maintenance) $ 2.00 · Automated transactions* $ .35 *includes NSCC activity processing, AIP/SWP/auto exchanges, dividends, any required IRS withholding · Per fund (per year) $ 1,000 · Additional account set-up (per non-individual account)* $ 1.00 · Suspicious Activity Report filing (per occurrence) $ 25.00 · Escheatment filing (per state) $ 50.00 *e.g., business account, trust account, partnership account, etc. CCO Support Services(1) Annual fee per fund family $ 1,500 · Annual maintenance fee per account (may be charged to shareholders) $ 15.00 · ▇▇▇ transfer/rollover/recharacterization/RMD fee (per occurrence) $ 15.00 Advanced Reporting Solutions(1) · Annual maintenance fee* $ 5,000 · Additional interactive user license (per license per year) $ 1,000 · Analyst named user license (per license per year) $ 2,500 *Annual maintenance fee includes initial setup costs plus one interactive user license · Telephone calls, letters/e-mails, research/lost shareholder (per occurrence) $ 3.00 · Standard applications and forms in electronic format no charge · Customized forms as quoted · Pre-printed, machine-ready statement inserts (per item) $ .03 · Standard single-sided statement/confirm/tax form/check (per item including .pdf) · First page $ .30 · Each additional page $ .15 Additional fees at $175 per hour, or as quoted by project, may apply for special programming or projects to meet your servicing requirements or to create custom reports. Out-of-pocket expenses include, but are not limited to, annual year-end programming fees, copying charges, facsimile charges, inventory and record storage and reprocessing, statement paper, check stock, envelopes, tax forms, postage and direct delivery charges, tape/disk storage, travel, CPU usage, telephone and long distance charges, VPN/VNET fees, retirement plan documents, proxies and proxy services, NSCC participant billing, P.O. box rental, toll-free number, customer identity check fees, bank account service fees and any other bank charges, and expenses, including but not limited to attorney’s fees, incurred in connection with responding to and complying with SEC or other regulatory investigations, inquiries or subpoenas, excluding routine examinations of UMB in its capacity as a service provider to the funds. Money Market Exchange Vehicles(1) · Exception check writing (per set definition, per occurrence) $ 2.00 · One-time set-up fee per money market fund used $ 2,000 · Monthly base fee per money market fund used $ 650 NSCC and Fund/SERV Trading(1) Use of UMB Distribution Services, LLC’s NSCC membership (per fund, per year) · Each of first three funds in fund family $ 2,000 · Each additional fund $ 1,000 VRU Services(1) · One-time VRU set-up fee $ 3,500 · Annual VRU maintenance fee $ 2,500 · VRU charge (per call) $ .40 Internet Services(1) · Broker Browser · One-time set-up fee (standard) $ 1,500 · Inquiry no charge · Shareholder Browser · One-time set-up fee $ 7,500 · Annual maintenance fee – up to 50,000 accounts $ 7,500 · Annual maintenance fee – over 50,000 accounts $ 15,000 · Inquiry (per occurrence) $ .15 · New account set-up, one-time fee per account $ 2.50 · Transactions* and account maintenance (per occurrence) $ .50 *additional purchases, exchanges and redemptions · Web-based document mailings* · One-time set-up fee $ 4,000 · Annual maintenance fee $ 1,500 · Per shareholder, per mailing $ .15 *statements, prospectuses, financial reports, etc. Rule 22c-2 Service Fees(1) Per fund family $ 5,000 Per CUSIP (billed monthly) $ 3,000/yr.* *Subject to a minimum of $5,000 per year, per fund family The Annual Management Fee applies to UMB Fund Services’ review and reporting of exception items. Additional reports or requests for data that are outside of the exception-based reporting process are deemed special projects billed at the rate shown in this fee schedule. · One-time fee to initiate STN 22c-2, per fund family $ 2,000 · Monthly fee for STN 22c-2 services The monthly fee is based on number of CUSIPs participating at time of service initiation. Pricing will increase or decrease based on CUSIP count annually (or more frequently upon occurrence of a merger or similar event) to the appropriate tier based on number of CUSIPs at time of adjustment: · 0–15 CUSIPS with up to 750,000 stored records $ 700/mo. · 16–30 CUSIPS with up to 1.5 million stored records $ 1,000/mo. · 30+ CUSIPS with up to $2.5 million stored records $ 1,200/mo. A fee of $250 per month will be charged for each additional million records stored beyond the number included as part of the monthly fee. The above out-of-pocket expenses will increase to the extent that SunGard increases its pricing under the contract between UMB Fund Services and SunGard. In addition to the fees noted above, certain third-party fees and expenses (including NSCC charges) may be billed directly by the applicable third-party provider or passed through by UMB Fund Services.

Optional Services. The Funds may contract with UMBFS Transfer Agent to provide one or more of the following optional servicesservices for additional fees. Additional fees apply. · UMBFS’ • Transfer Agent’s Internet services, including Adviser Services, RIA/Broker Services, Shareholder Services, NAV Services, Vision, Adviser Central and email services. · UMBISG services • VRU services (per fund group) · • Shareholder “welcome” packages with initial confirmation · • Access to UMBFS’ Transfer Agent’s Tax and Retirement Group to answer questions and coordinate retirement plan options · Money • Arrange to make available money market funds for short-term investment or exchanges · • Dedicated service representatives · • Weekend and holiday shareholder services · • Customized reorder form tracking · • Give dealers access through NSCC’s Fund/SERV and Networking · • Customized forms forms, applications and applications · statements • Training of adviser staff on regulatory developments · USA PATRIOT Act Included Fees will be allocated across the Funds on a prorated basis by relative net assets. $ 600,000 Annual base fee, per fund $ 20,000 · Share classes in addition to the first (per month, per class) $ 500 · Per-Account Fees • Open account fee: · Quarterly/annual dividend funds $ 12.00 · Monthly dividend funds $ 12.00 · Daily dividend funds $ 12.00 · fee • Non-Matrix level 3 accounts $ 8.50 · 9.00 • Matrix level 3 accounts $ 5.00 • Closed account fee (per year) $ 3.00 · One-time set-up 1.50 • Telephone calls (manual, per accountminute) $ 3.00 · One1.00 • Letters/e-time set-up (automated NSCCmails, per account) $ 1.50 · Transaction fee (e.g., financial, maintenance) $ 2.00 · Automated transactions* $ .35 *includes NSCC activity processing, AIP/SWP/auto exchanges, dividends, any required IRS withholding · Per fund (per year) $ 1,000 · Additional account set-up (per non-individual account)* $ 1.00 · Suspicious Activity Report filing research shareholder (per occurrence) $ 25.00 · Escheatment filing (per state) $ 50.00 *e.g., business account, trust account, partnership account, etc. CCO Support Services(1) 2.00 Annual fee per fund family $ 1,500 · Waived • Annual maintenance fee per account type/SSN (may be charged to shareholders) $ 15.00 · 10.00 • ▇▇▇ transfer/rollover/recharacterization/RMD fee (per occurrence) $ 15.00 Advanced Reporting Solutions(1) · 10.00 • Annual maintenance fee* $ 5,000 · Waived • Additional interactive user license (per license per year) $ 1,000 · Analyst named user license (per license per year) $ 2,500 ** Annual maintenance fee includes initial setup costs plus one five interactive user license · Telephone calls, letterslicenses • Conversion of Statements/e-mails, research/lost shareholder (per occurrence) $ 3.00 · Confirms to Pinnacle* Waived • Standard applications and forms in electronic format no charge · • Customized forms as quoted · • Pre-printed, machine-ready statement inserts (per item) )* $ .03 · • Standard single-sided statement/confirm/tax form/check (per item including .pdf) · ..pdf)* • First page $ .30 · .20 • Each additional page $ .15 .10 * Charges specific to Pinnacle Data Systems Additional fees at $175 per hour, or as quoted by project, may apply for special programming or projects to meet your servicing requirements or to create custom reports. Conversion Costs No charge with 3-year agreement (Any special programming and any conversion-related fees paid to outside parties will be passed through to ▇▇▇▇▇) Out-of-Pocket Expenses Out-of-pocket expenses include, include but are not limited to, to annual year-end programming fees, copying charges, facsimile charges, inventory and record storage and reprocessing, statement paper, check stock, envelopes, tax forms, postage and direct delivery charges, tape/disk storage, travel, CPU usage, telephone and long distance charges, VPN/VNET fees, retirement plan documents, proxies and proxy services, DTCC/NSCC participant billing, manual cost basis processing, P.O. box rental, toll-free number, customer identity check fees, bank account service fees and any other bank charges, termination of service fees, and expenses, including but not limited to attorney’s fees, incurred in connection with responding to and complying with SEC or other regulatory investigations, inquiries or subpoenas, excluding routine examinations of UMB in its capacity as a service provider provider. All fees, other than basis point fees, are subject to an annual escalation equal to the fundsincrease in the Consumer Price Index–Urban Wage Earners (CPI). Money Market Exchange Vehicles(1) · Exception check writing (per set definitionSuch escalations shall be effective commencing one year from the effective date of each Fund and the corresponding date each year thereafter. No amendment of this fee schedule shall be required with each escalation. CPI will be determined by reference to the Consumer Price Index News Release issued by the Bureau of Labor Statistics, per occurrence) $ 2.00 · U.S. Department of Labor. • Tier 1: Activate Mutual Fund Profile II – Advisor populates data No fee • Tier 2: Activate Mutual Fund Profile II – UMBFS supports Advisor in populating data • One-time set-up fee per money market fund used $ 2,000 · Monthly base fee per money market fund used $ 650 NSCC and Fund/SERV Trading(1) Use of UMB Distribution Services, LLC’s NSCC membership (per fundfee, per year) · Each of first three funds in fund family $ 2,000 · Each additional fund $ 1,000 VRU Services(1) · One-time VRU set-up fee $ 3,500 · Annual VRU maintenance fee $ 2,500 · VRU charge (per call) $ .40 Internet Services(1) · Broker Browser · One-time set-up fee (standard) $ 1,500 · Inquiry no charge · Shareholder Browser · One-time set-up fee $ 7,500 · Annual N/A • Monthly maintenance fee – up to 50,000 accounts $ 7,500 · Annual 25 CUSIPs N/A • Monthly maintenance fee – over 50,000 accounts $ 15,000 · Inquiry (per occurrence) $ .15 · New account set-up, one-time fee per account $ 2.50 · Transactionsmore than 25 CUSIPs N/A * and account maintenance (per occurrence) $ .50 *additional purchases, exchanges and redemptions · Web-based document mailings* · One-time set-up fee $ 4,000 · Annual maintenance fee $ 1,500 · Per shareholder, per mailing $ .15 *statements, prospectuses, financial reports, etc. Rule 22c-2 Service Fees(1) Per fund family $ 5,000 Per CUSIP (billed monthly) $ 3,000/yr.* *Subject to a minimum of $5,000 per year, per fund family The Annual Management Fee applies to UMB Funds using Mutual Fund Services’ review and reporting of exception items. Additional reports or requests for data that are outside of the exception-based reporting process are deemed special projects billed at the rate shown in this fee schedule. · One-time fee to initiate STN 22c-2, per fund family $ 2,000 · Monthly fee for STN 22c-2 Profile II services The monthly fee is based on number of CUSIPs participating at time of service initiation. Pricing will increase or decrease based on CUSIP count annually (or more frequently upon occurrence of a merger or similar event) to the appropriate tier based on number of CUSIPs at time of adjustment: · 0–15 CUSIPS with up to 750,000 stored records $ 700/mo. · 16–30 CUSIPS with up to 1.5 million stored records $ 1,000/mo. · 30+ CUSIPS with up to $2.5 million stored records $ 1,200/mo. A fee of $250 per month will be charged for each additional million records stored beyond the number included as part of the monthly fee. The above also pay out-of-pocket expenses will increase fees charged by DTCC of $850/mo. for up to the extent that SunGard increases its pricing under the contract between UMB Fund Services and SunGard25 CUSIPs or $2,000/mo. In addition to the fees noted above, certain third-party fees and expenses (including NSCC charges) may be billed directly by the applicable third-party provider or passed through by UMB Fund Servicesfor 26+ CUSIPs.

Optional Services. The Funds may contract with UMBFS to provide one or more of the following optional services. Additional fees apply. · ¨ UMBFS’ Internet services, including Adviser Services, RIA/Broker Services, Shareholder Services, NAV Services, Vision, Adviser Central and email services. · ¨ UMBISG VRU services (per fund group) · ¨ Shareholder “welcome” packages with initial confirmation · ¨ Access to UMBFS’ Tax and Retirement Group to answer questions and coordinate retirement plan options · ¨ Money market funds for short-term investment or exchanges · ¨ Dedicated service representatives · ¨ Weekend and holiday shareholder services · ¨ Customized reorder form tracking · ¨ Give dealers access through NSCC’s Fund/SERV and Networking · ¨ Customized forms and applications · ¨ Training of adviser staff on regulatory developments · Annual base fee, Minimum Fee (per fund $ 20,000 · fund) $25,000 n Share classes in addition to the first (per month, per class) $ 500 · $750 n Open account fee: · o Quarterly/annual dividend funds $ 12.00 · $10.00 o Monthly dividend funds $ 12.00 · $11.00 o Daily dividend funds $ $12.00 · o Matrix level 3 accounts $ 8.50 · $9.00 o Additional for funds with redemption fees $.25 o Additional for funds with 12b-1 fees $.25 n Closed account fee (per year) $ $3.00 · n One-time set-up (manual, per account) $ $3.00 · n One-time set-up (automated NSCC, per account) $ $1.50 · n Transaction fee (e.g., financial, maintenance) $ $2.00 · n Automated transactions* $ $.35 *includes NSCC activity processing, AIP/SWP/auto exchanges, dividends, any required IRS withholding · n Per fund (per year) $ 1,000 · $2,000 n Additional account set-up (per non-individual account)* $ $1.00 · n Suspicious Activity Report filing (per occurrence) $ $25.00 · n Escheatment filing (per state) $ $50.00 *e.g., business account, trust account, partnership account, etc. CCO Support Services(1) Annual fee per fund family $ $1,500 · n Annual maintenance fee per account (may be charged to shareholders) $ $15.00 · ▇n I▇▇ transfer/rolloverdistribution/recharacterization/RMD recharacterization fee (per occurrence) $ $15.00 Advanced Reporting Solutions(1) · n Annual maintenance fee* $ $5,000 · n Additional interactive user license (per license per year) $ $1,000 · n Analyst named user license (per license per year) $ $2,500 *Annual maintenance fee includes initial setup costs plus one interactive user license · n Telephone calls, letters/e-mails, research/lost shareholder (per occurrence) $ 3.00 · $2.75 n Standard applications and forms in electronic format no charge · n Customized forms as quoted · n Pre-printed, machine-ready statement inserts (per item) $ $.03 · n Standard single-sided statement/confirm/tax form/check (per item including .pdf) · o First page $ $.30 · o Each additional page $ $.15 Additional fees at $175 per hour, or as quoted by project, may apply for special programming or projects to meet your servicing requirements or to create custom reports. Conversion Costs TBD Out-of-pocket expenses include, include but are not limited to, to annual year-end programming fees, copying charges, facsimile charges, inventory and record storage and reprocessing, statement paper, check stock, envelopes, tax forms, postage and direct delivery charges, tape/disk storage, travel, CPU usage, telephone and long distance charges, VPN/VNET fees, retirement plan documents, proxies and proxy services, NSCC participant billing, P.O. box rental, toll-free number, customer identity check fees, bank account service fees and any other bank charges, and expenses, including but not limited to attorney’s fees, incurred in connection with responding to and complying with SEC or other regulatory investigations, inquiries or subpoenas, excluding routine examinations of UMB in its capacity as a service provider to the funds. Money Market Exchange Vehicles(1) · n Exception check writing (per set definition, per occurrence) $ $2.00 · n One-time set-up fee per money market fund used $ $2,000 · n Monthly base fee per money market fund used $ $650 NSCC and Fund/SERV Trading(1) Use of UMB Distribution Services, LLC’s NSCC membership (per fund, per year) · n Each of first three funds in fund family $ $2,000 · n Each additional fund $ $1,000 VRU Services(1) · n One-time VRU set-up fee $ $3,500 · n Annual VRU maintenance fee $ $2,500 · n VRU charge (per call) $ .40 Internet Services(1) · n Broker Browser · o One-time set-up fee (standard) $ $1,500 · o Inquiry no charge · n Shareholder Browser · o One-time set-up fee $ $7,500 · o Annual maintenance fee – up to 50,000 accounts $ $7,500 · o Annual maintenance fee – over 50,000 accounts $ $15,000 · o Inquiry (per occurrence) $ .15 · o New account set-up, one-time fee per account $ $2.50 · o Transactions* and account maintenance (per occurrence) $ .50 *additional purchases, exchanges and redemptions · n Web-based document mailings* · o One-time set-up fee $ $4,000 · o Annual maintenance fee $ $1,500 · o Per shareholder, per mailing $ .15 *statements, prospectuses, financial reports, etc. Rule 22c-2 Service Fees(1) Per fund family $ $5,000 Per CUSIP (billed monthly) $ $3,000/yr.* *Subject to a minimum of $5,000 per year, per fund family The Annual Management Fee applies to UMB Fund Services’ review and reporting of exception items. Additional reports or requests for data that are outside of the exception-based reporting process are deemed special projects billed at the rate shown in this fee schedule. · n One-time fee to initiate STN 22c-2, per fund family $ $2,000 · n Monthly fee for STN 22c-2 services The monthly fee is based on number of CUSIPs participating at time of service initiation. Pricing will increase or decrease based on CUSIP count annually (or more frequently upon occurrence of a merger or similar event) to the appropriate tier based on number of CUSIPs at time of adjustment: · 0–15 CUSIPS with up to 750,000 stored records $ 700/mo. · 16–30 CUSIPS with up to 1.5 million stored records $ 1,000/mo. · 30+ CUSIPS with up to $2.5 million stored records $ 1,200/mo. A fee of $250 per month will be charged for each additional million records stored beyond the number included as part of the monthly fee. The above out-of-pocket expenses will increase to the extent that SunGard increases its pricing under the contract between UMB Fund Services and SunGard. In addition to the fees noted above, certain third-party fees and expenses (including NSCC charges) may be billed directly by the applicable third-party provider or passed through by UMB Fund Services.:

Optional Services. The Funds may contract with UMBFS SEI to provide one or more of the following optional services. Additional fees apply. · UMBFS’ ¨ UMB’s Internet services, including Adviser Services, RIA/Broker Services, Shareholder Services, NAV Services, Vision, Adviser Central and email services. · ¨ UMBISG VRU services (per fund group) · ¨ Shareholder “welcome” packages with initial confirmation · ¨ Access to UMBFS’ UMB’s Tax and Retirement Group to answer questions and coordinate retirement plan options · ¨ Money market funds for short-term investment or exchanges · ¨ Dedicated service representatives · ¨ Weekend and holiday shareholder services · ¨ Customized reorder form tracking · ¨ Give dealers access through NSCC’s Fund/SERV and Networking · ¨ Customized forms and applications · ¨ Training of adviser staff on regulatory developments · Annual base feen On the first $750 million in assets 1.0 basis points, and n On assets between $750 million and $1.5 billion 75 basis points, and n On assets over $1.5 billion .5 basis points *subject to an annual minimum of $50,000 per fund $ 20,000 · Share classes in addition to the first (per month, per class) $ 500 · n Open account fee: · o Quarterly/annual dividend funds $ 12.00 · included o Monthly dividend funds $ 12.00 · Daily dividend included o Money market funds $ 12.00 · Matrix level 3 accounts $ 8.50 · included o Additional for funds with redemption fees included o Additional for funds with 12b-1 fees included n Closed account fee (per year) $ 3.00 · included n One-time set-up (manual, per account) $ 3.00 · included n One-time set-up (automated NSCC, per account) $ 1.50 · included n Transaction fee (e.g., financial, maintenance) $ 2.00 · included n Automated transactions* $ .35 included *includes NSCC activity processing, AIP/SWP/auto exchanges, dividends, any required IRS withholding · n Per fund (per year) $ 1,000 · included n Research (per item) included n Additional account set-up (per non-individual account)* $ 1.00 · included n Suspicious Activity Report filing (per occurrence) $ 25.00 · included n Escheatment filing (per state) $ 50.00 included *e.g., business account, trust account, partnership account, etc. CCO Support Services(1) Annual fee per fund family $ 1,500 · n Annual maintenance fee per account (may be charged to shareholders) $ $15.00 · n ▇▇▇ transfer/rollover/recharacterization/RMD transfer fee (per occurrence) $ 15.00 Advanced Reporting Solutions(1) · included n Annual maintenance fee* $ 5,000 · $3,500 n Additional interactive user license (per license per year) $ $1,000 · n Analyst named user license (per license per year) $ $2,500 *Annual maintenance fee includes initial setup costs plus one interactive user license · n Telephone calls, letters/e-mails, research/lost shareholder (per occurrence) $ 3.00 · included n Standard applications and forms in electronic format no charge · n Customized forms as quoted · n Pre-printed, machine-ready statement inserts (per item) $ .03 · as quoted n Standard single-sided statement/confirm/tax form/check (per item including .pdf) · o First page $ .30 · included o Each additional page $ .15 included Additional fees at $175 per hour, or as quoted by project, may apply for special programming or projects to meet your servicing requirements or to create custom reports. Conversion Costs TBD Out-of-pocket expenses include, include but are not limited to, : annual year-end programming fees, copying charges, facsimile charges, inventory and record storage and reprocessing, statement paper, check stock, envelopes, tax forms, postage and direct delivery charges, tape/disk storage, travel, CPU usage, telephone and long distance charges, VPN/VNET fees, retirement plan documents, proxies and proxy services, NSCC participant billing, P.O. box rental, toll-free number, customer identity check fees, bank account service fees and any other bank charges, and expenses, including but not limited to attorney’s fees, incurred in connection with responding to and complying with SEC or other regulatory investigations, inquiries or subpoenas, excluding routine examinations of UMB in its capacity as a service provider to the funds. Money Market Exchange Vehicles(1) · Exception check writing (per set definition, per occurrence) $ 2.00 · One-time set-up fee per money market fund used $ 2,000 · Monthly base fee per money market fund used $ 650 NSCC and Fund/SERV Trading(1) Use of UMB Distribution Services, LLC’s NSCC membership (per fund, per year) · Each of first three funds in fund family $ 2,000 · Each additional fund $ 1,000 VRU Services(1) · One-time VRU set-up fee $ 3,500 · Annual VRU maintenance fee $ 2,500 · VRU charge (per call) $ .40 Internet Services(1) · Broker Browser · One-time set-up fee (standard) $ 1,500 · Inquiry no charge · Shareholder Browser · One-time set-up fee $ 7,500 · Annual maintenance fee – up to 50,000 accounts $ 7,500 · Annual maintenance fee – over 50,000 accounts $ 15,000 · Inquiry (per occurrence) $ .15 · New account set-up, one-time fee per account $ 2.50 · Transactions* and account maintenance (per occurrence) $ .50 *additional purchases, exchanges and redemptions · Web-based document mailings* · One-time set-up fee $ 4,000 · Annual maintenance fee $ 1,500 · Per shareholder, per mailing $ .15 *statements, prospectuses, financial reports, etc. Rule 22c-2 Service Fees(1) Per fund family $ 5,000 Per CUSIP (billed monthly) $ 3,000/yr.* *Subject to a minimum of $5,000 per year, per fund family The Annual Management Fee applies to UMB Fund Services’ review and reporting of exception items. Additional reports or requests for data that are outside of the exception-based reporting process are deemed special projects billed at the rate shown in this fee schedule. · One-time fee to initiate STN 22c-2, per fund family $ 2,000 · Monthly fee for STN 22c-2 services The monthly fee is based on number of CUSIPs participating at time of service initiation. Pricing will increase or decrease based on CUSIP count annually (or more frequently upon occurrence of a merger or similar event) to the appropriate tier based on number of CUSIPs at time of adjustment: · 0–15 CUSIPS with up to 750,000 stored records $ 700/mo. · 16–30 CUSIPS with up to 1.5 million stored records $ 1,000/mo. · 30+ CUSIPS with up to $2.5 million stored records $ 1,200/mo. A fee of $250 per month will be charged for each additional million records stored beyond the number included as part of the monthly fee. The above out-of-pocket expenses will increase to the extent that SunGard increases its pricing under the contract between UMB Fund Services and SunGard. In addition to the fees noted above, certain third-party fees and expenses (including NSCC charges) may be billed directly by the applicable third-party provider or passed through by UMB Fund Services.

Optional Services. The Funds may contract with UMBFS to provide one or more of the following optional services. Additional fees apply. · UMBFS’ Internet services, including Adviser Services, RIA/Broker Services, Shareholder Services, NAV Services, Vision, Adviser Central and email services. · UMBISG VRU services (per fund group) · Shareholder “welcome” packages with initial confirmation · Access to UMBFS’ Tax and Retirement Group to answer questions and coordinate retirement plan options · Money market funds for short-term investment or exchanges · Dedicated service representatives · Weekend and holiday shareholder services · Customized reorder form tracking · Give dealers access through NSCC’s Fund/SERV and Networking · Customized forms and applications · Training of adviser staff on regulatory developments · Annual base fee, per fund $ 20,000 · Share classes in addition to the first (per month, per class) $ 500 · Open account fee: · Quarterly/annual dividend funds $ 12.00 · Monthly dividend funds $ 12.00 · Daily dividend funds $ 12.00 · Matrix level 3 accounts $ 8.50 · Closed account fee (per year) $ 3.00 · One-time set-up (manual, per account) $ 3.00 · One-time set-up (automated NSCC, per account) $ 1.50 · Transaction fee (e.g., financial, maintenance) $ 2.00 · Automated transactions* $ .35 *includes NSCC activity processing, AIP/SWP/auto exchanges, dividends, any required IRS withholding · Per fund (per year) $ 1,000 · Additional account set-up (per non-individual account)* $ 1.00 · Suspicious Activity Report filing (per occurrence) $ 25.00 · Escheatment filing (per state) $ 50.00 *e.g., business account, trust account, partnership account, etc. CCO Support Services(1) Annual fee per fund family $ 1,500 · Annual maintenance fee per account (may be charged to shareholders) $ 15.00 · ▇▇▇ transfer/rollover/recharacterization/RMD fee (per occurrence) $ 15.00 Advanced Reporting Solutions(1) · Annual maintenance fee* $ 5,000 · Additional interactive user license (per license per year) $ 1,000 · Analyst named user license (per license per year) $ 2,500 *Annual maintenance fee includes initial setup costs plus one interactive user license · Telephone calls, letters/e-mails, research/lost shareholder (per occurrence) $ 3.00 · Standard applications and forms in electronic format no charge · Customized forms as quoted · Pre-printed, machine-ready statement inserts (per item) $ .03 · Standard single-sided statement/confirm/tax form/check (per item including .pdf) · First page $ .30 · Each additional page $ .15 Additional fees at $175 per hour, or as quoted by project, may apply for special programming or projects to meet your servicing requirements or to create custom reports. Out-of-pocket expenses include, but are not limited to, annual year-end programming fees, copying charges, facsimile charges, inventory and record storage and reprocessing, statement paper, check stock, envelopes, tax forms, postage and direct delivery charges, tape/disk storage, travel, CPU usage, telephone and long distance charges, VPN/VNET fees, retirement plan documents, proxies and proxy services, NSCC participant billing, P.O. box rental, toll-free number, customer identity check fees, bank account service fees and any other bank charges, and expenses, including but not limited to attorney’s fees, incurred in connection with responding to and complying with SEC or other regulatory investigations, inquiries or subpoenas, excluding routine examinations of UMB in its capacity as a service provider to the funds. Money Market Exchange Vehicles(1) · Exception check writing (per set definition, per occurrence) $ 2.00 · One-time set-up fee per money market fund used $ 2,000 · Monthly base fee per money market fund used $ 650 NSCC and Fund/SERV Trading(1) Use of UMB Distribution Services, LLC’s NSCC membership (per fund, per year) · Each of first three funds in fund family $ 2,000 · Each additional fund $ 1,000 VRU Services(1) · One-time VRU set-up fee $ 3,500 · Annual VRU maintenance fee $ 2,500 · VRU charge (per call) $ .40 Internet Services(1) · Broker Browser · One-time set-up fee (standard) $ 1,500 · Inquiry no charge · Shareholder Browser · One-time set-up fee $ 7,500 · Annual maintenance fee – — up to 50,000 accounts $ 7,500 · Annual maintenance fee – — over 50,000 accounts $ 15,000 · Inquiry (per occurrence) $ .15 · New account set-up, one-time fee per account $ 2.50 · Transactions* and account maintenance (per occurrence) $ .50 *additional purchases, exchanges and redemptions · Web-based document mailings* · One-time set-up fee $ 4,000 · Annual maintenance fee $ 1,500 · Per shareholder, per mailing $ .15 *statements, prospectuses, financial reports, etc. Rule 22c-2 Service Fees(1) Per fund family $ 5,000 Per CUSIP (billed monthly) $ 3,000/yr.. * *Subject to a minimum of $5,000 per year, per fund family The Annual Management Fee applies to UMB Fund Services’ review and reporting of exception items. Additional reports or requests for data that are outside of the exception-based reporting process are deemed special projects billed at the rate shown in this fee schedule. · One-time fee to initiate STN 22c-2, per fund family $ 2,000 · Monthly fee for STN 22c-2 services The monthly fee is based on number of CUSIPs participating at time of service initiation. Pricing will increase or decrease based on CUSIP count annually (or more frequently upon occurrence of a merger or similar event) to the appropriate tier based on number of CUSIPs at time of adjustment: · 0–15 CUSIPS with up to 750,000 stored records $ 700/mo. · 16–30 CUSIPS with up to 1.5 million stored records $ 1,000/mo. · 30+ CUSIPS with up to $2.5 million stored records $ 1,200/mo. A fee of $250 per month will be charged for each additional million records stored beyond the number included as part of the monthly fee. The above out-of-pocket expenses will increase to the extent that SunGard increases its pricing under the contract between UMB Fund Services and SunGard. In addition to the fees noted above, certain third-party fees and expenses (including NSCC charges) may be billed directly by the applicable third-party provider or passed through by UMB Fund Services.

Optional Services. The Funds may contract with UMBFS to provide one or more of the following optional services. Additional fees apply. · ¨ UMBFS’ Internet services, including Adviser Services, RIA/Broker Services, Shareholder Services, NAV Services, Vision, Adviser Central and email services. · ¨ UMBISG VRU services (per fund group) · ¨ Shareholder “welcome” packages with initial confirmation · ¨ Access to UMBFS’ Tax and Retirement Group to answer questions and coordinate retirement plan options · ¨ Money market funds for short-term investment or exchanges · ¨ Dedicated service representatives · ¨ Weekend and holiday shareholder services · ¨ Customized reorder form tracking · ¨ Give dealers access through NSCC’s Fund/SERV and Networking · ¨ Customized forms and applications · ¨ Training of adviser staff on regulatory developments · < Annual base asset-based fee, per fund $ 20,000 · * .5bps < Share classes in addition to the first (per month, month per class) $ 500 · 750 * subject to an annual minimum of $30,000 < Open account fee: · o Quarterly/annual dividend funds $ 12.00 · 9.50 o Monthly dividend funds $ 12.00 · Daily dividend 10.50 o Money market funds $ 12.00 · Matrix level 3 accounts o Additional for funds with redemption fees $ 8.50 · .25 o Additional for funds with 12b-l fees $ .25 < Closed account fee (per year) $ 3.00 · 3.50 < One-time set-up (manual, per account) $ 3.00 · < One-time set-up (automated NSCC, per account) $ 1.50 · 1.00 < Transaction fee (e.g., financial, maintenance) $ 2.00 · 1.50 < Automated transactions* $ .35 *.25 * includes NSCC activity processing, AIP/SWP/auto exchanges, dividends, any required IRS withholding · < Per fund (per year) $ 1,000 · 2,000 < Research (per item) $ 2.50 < Additional account set-up (per non-individual account)* $ 1.00 · < Suspicious Activity Report filing (per occurrence) $ 25.00 · < Escheatment filing (per state) $ 50.00 ** e.g., business account, trust account, partnership account, etc. CCO Support Services(1) Annual fee per fund family $ 1,500 · < Annual maintenance fee per account (may be charged to shareholders) $ 15.00 · ▇< I▇▇ transfer/rollover/recharacterization/RMD transfer fee (per occurrence) $ 15.00 Advanced Reporting Solutions(1) · 7.50 < Annual maintenance fee* $ 5,000 · 3,500 < Additional interactive user license (per license per year) $ 1,000 · < Analyst named user license (per license per year) $ 2,500 ** Annual maintenance fee includes initial setup costs plus one interactive user license · < Telephone calls, letters/e-mails, research/lost shareholder (per occurrence) $ 3.00 · 2.75 < Standard applications and forms in electronic format no charge · < Customized forms as quoted · < Pre-printed, machine-ready statement inserts (per item) $ .03 · .02 < Standard single-sided statement/confirm/tax form/check (per item including .pdf) · o First page $ .30 · .25 o Each additional page $ .15 .10 Additional fees at $175 per hour, or as quoted by project, may apply for special programming or projects to meet your servicing requirements or to create custom reports. Out-of-pocket expenses include, include but are not limited to, : annual year-end programming fees, copying charges, facsimile charges, inventory and record storage and reprocessing, statement paper, check stock, envelopes, tax forms, postage and direct delivery charges, tape/disk storage, travel, CPU usage, telephone and long distance charges, VPN/VNET fees, retirement plan documents, proxies and proxy services, NSCC participant billing, P.O. box rental, toll-free number, customer identity check fees, bank account service fees and any other bank chargesfees, and expenses, including but not limited to attorney’s fees, incurred in connection with responding to and complying with SEC or other regulatory investigations, inquiries or subpoenas, excluding routine examinations of UMB UMBFS in its capacity role as a service provider to the funds. Money Market Exchange Vehicles(1) · Exception check writing (per set definition, per occurrence) $ 2.00 · One-time set-up fee per money market fund used $ 2,000 · Monthly base fee per money market fund used $ 650 NSCC transfer agent and Fund/SERV Trading(1) Use of UMB Distribution Services, LLC’s NSCC membership (per fund, per year) · Each of first three funds in fund family $ 2,000 · Each additional fund $ 1,000 VRU Services(1) · One-time VRU set-up fee $ 3,500 · Annual VRU maintenance fee $ 2,500 · VRU charge (per call) $ .40 Internet Services(1) · Broker Browser · One-time set-up fee (standard) $ 1,500 · Inquiry no charge · Shareholder Browser · One-time set-up fee $ 7,500 · Annual maintenance fee – up to 50,000 accounts $ 7,500 · Annual maintenance fee – over 50,000 accounts $ 15,000 · Inquiry (per occurrence) $ .15 · New account set-up, one-time fee per account $ 2.50 · Transactions* and account maintenance (per occurrence) $ .50 *additional purchases, exchanges and redemptions · Web-based document mailings* · One-time set-up fee $ 4,000 · Annual maintenance fee $ 1,500 · Per shareholder, per mailing $ .15 *statements, prospectuses, financial reports, etc. Rule 22c-2 Service Fees(1) Per fund family $ 5,000 Per CUSIP (billed monthly) $ 3,000/yrany other bank charges.* *Subject to a minimum of $5,000 per year, per fund family The Annual Management Fee applies to UMB Fund Services’ review and reporting of exception items. Additional reports or requests for data that are outside of the exception-based reporting process are deemed special projects billed at the rate shown in this fee schedule. · One-time fee to initiate STN 22c-2, per fund family $ 2,000 · Monthly fee for STN 22c-2 services The monthly fee is based on number of CUSIPs participating at time of service initiation. Pricing will increase or decrease based on CUSIP count annually (or more frequently upon occurrence of a merger or similar event) to the appropriate tier based on number of CUSIPs at time of adjustment: · 0–15 CUSIPS with up to 750,000 stored records $ 700/mo. · 16–30 CUSIPS with up to 1.5 million stored records $ 1,000/mo. · 30+ CUSIPS with up to $2.5 million stored records $ 1,200/mo. A fee of $250 per month will be charged for each additional million records stored beyond the number included as part of the monthly fee. The above out-of-pocket expenses will increase to the extent that SunGard increases its pricing under the contract between UMB Fund Services and SunGard. In addition to the fees noted above, certain third-party fees and expenses (including NSCC charges) may be billed directly by the applicable third-party provider or passed through by UMB Fund Services.

Optional Services. The Funds may contract with UMBFS Transfer Agent to provide one or more of the following optional servicesservices for additional fees. Additional fees apply. · UMBFS’ • Transfer Agent’s Internet services, including Adviser Services, RIA/Broker Services, Shareholder Services, NAV Services, Vision, Adviser Central and email services. · UMBISG services • VRU services (per fund group) · • Shareholder “welcome” packages with initial confirmation · • Access to UMBFS’ Transfer Agent’s Tax and Retirement Group to answer questions and coordinate retirement plan options · Money • Arrange to make available money market funds for short-term investment or exchanges · • Dedicated service representatives · • Weekend and holiday shareholder services · • Customized reorder form tracking · • Give dealers access through NSCC’s Fund/SERV and Networking · • Customized forms forms, applications and applications · statements • Training of adviser staff on regulatory developments · Included Fees will be allocated across the Funds on a prorated basis by relative net assets. $ 600,000 Annual base fee, per fund $ 20,000 · Share classes in addition to the first (per month, per class) $ 500 · Per-Account Fees • Open account fee: · Quarterly/annual dividend funds $ 12.00 · Monthly dividend funds $ 12.00 · Daily dividend funds $ 12.00 · fee • Non-Matrix level 3 accounts $ 8.50 · 9.00 • Matrix level 3 accounts $ 5.00 • Closed account fee (per year) $ 3.00 · One-time set-up 1.50 • Telephone calls (manual, per accountminute) $ 3.00 · One1.00 • Letters/e-time set-up (automated NSCCmails, per account) $ 1.50 · Transaction fee (e.g., financial, maintenance) $ 2.00 · Automated transactions* $ .35 *includes NSCC activity processing, AIP/SWP/auto exchanges, dividends, any required IRS withholding · Per fund (per year) $ 1,000 · Additional account set-up (per non-individual account)* $ 1.00 · Suspicious Activity Report filing research shareholder (per occurrence) $ 25.00 · Escheatment filing (per state) $ 50.00 *e.g., business account, trust account, partnership account, etc. CCO Support Services(1) 2.00 Annual fee per fund family $ 1,500 · Waived • Annual maintenance fee per account type/SSN (may be charged to shareholders) $ 15.00 · 10.00 • ▇▇▇ transfer/rollover/recharacterization/RMD fee (per occurrence) $ 15.00 Advanced Reporting Solutions(1) · 10.00 • Annual maintenance fee* $ 5,000 · Waived • Additional interactive user license (per license per year) $ 1,000 · Analyst named user license (per license per year) $ 2,500 ** Annual maintenance fee includes initial setup costs plus one five interactive user license · Telephone calls, letterslicenses • Conversion of Statements/e-mails, research/lost shareholder (per occurrence) $ 3.00 · Confirms to Pinnacle* Waived • Standard applications and forms in electronic format no charge · • Customized forms as quoted · • Pre-printed, machine-ready statement inserts (per item) )* $ .03 · • Standard single-sided statement/confirm/tax form/check (per item including .pdf) · )* • First page $ .30 · .20 • Each additional page $ .15 .10 * Charges specific to Pinnacle Data Systems Additional fees at $175 per hour, or as quoted by project, may apply for special programming or projects to meet your servicing requirements or to create custom reports. Conversion Costs No charge with 3-year agreement (Any special programming and any conversion-related fees paid to outside parties will be passed through to ▇▇▇▇▇) Out-of-Pocket Expenses Out-of-pocket expenses include, include but are not limited to, to annual year-end programming fees, copying charges, facsimile charges, inventory and record storage and reprocessing, statement paper, check stock, envelopes, tax forms, postage and direct delivery charges, tape/disk storage, travel, CPU usage, telephone and long distance charges, VPN/VNET fees, retirement plan documents, proxies and proxy services, DTCC/NSCC participant billing, manual cost basis processing, P.O. box rental, toll-free number, customer identity check fees, bank account service fees and any other bank charges, termination of service fees, and expenses, including but not limited to attorney’s fees, incurred in connection with responding to and complying with SEC or other regulatory investigations, inquiries or subpoenas, excluding routine examinations of UMB in its capacity as a service provider provider. All fees, other than basis point fees, are subject to an annual escalation equal to the fundsincrease in the Consumer Price Index–Urban Wage Earners (CPI). Money Market Exchange Vehicles(1) · Exception check writing (per set definitionSuch escalations shall be effective commencing one year from the effective date of each Fund and the corresponding date each year thereafter. No amendment of this fee schedule shall be required with each escalation. CPI will be determined by reference to the Consumer Price Index News Release issued by the Bureau of Labor Statistics, per occurrence) $ 2.00 · U.S. Department of Labor. • Tier 1: Activate Mutual Fund Profile II – Advisor populates data No fee • Tier 2: Activate Mutual Fund Profile II – UMBFS supports Advisor in populating data • One-time set-up fee per money market fund used $ 2,000 · Monthly base fee per money market fund used $ 650 NSCC and Fund/SERV Trading(1) Use of UMB Distribution Services, LLC’s NSCC membership (per fundfee, per year) · Each of first three funds in fund family $ 2,000 · Each additional fund $ 1,000 VRU Services(1) · One-time VRU set-up fee $ 3,500 · Annual VRU maintenance fee $ 2,500 · VRU charge (per call) $ .40 Internet Services(1) · Broker Browser · One-time set-up fee (standard) $ 1,500 · Inquiry no charge · Shareholder Browser · One-time set-up fee $ 7,500 · Annual N/A • Monthly maintenance fee – up to 50,000 accounts $ 7,500 · Annual 25 CUSIPs N/A • Monthly maintenance fee – over 50,000 accounts $ 15,000 · Inquiry (per occurrence) $ .15 · New account set-up, one-time fee per account $ 2.50 · Transactionsmore than 25 CUSIPs N/A * and account maintenance (per occurrence) $ .50 *additional purchases, exchanges and redemptions · Web-based document mailings* · One-time set-up fee $ 4,000 · Annual maintenance fee $ 1,500 · Per shareholder, per mailing $ .15 *statements, prospectuses, financial reports, etc. Rule 22c-2 Service Fees(1) Per fund family $ 5,000 Per CUSIP (billed monthly) $ 3,000/yr.* *Subject to a minimum of $5,000 per year, per fund family The Annual Management Fee applies to UMB Funds using Mutual Fund Services’ review and reporting of exception items. Additional reports or requests for data that are outside of the exception-based reporting process are deemed special projects billed at the rate shown in this fee schedule. · One-time fee to initiate STN 22c-2, per fund family $ 2,000 · Monthly fee for STN 22c-2 Profile II services The monthly fee is based on number of CUSIPs participating at time of service initiation. Pricing will increase or decrease based on CUSIP count annually (or more frequently upon occurrence of a merger or similar event) to the appropriate tier based on number of CUSIPs at time of adjustment: · 0–15 CUSIPS with up to 750,000 stored records $ 700/mo. · 16–30 CUSIPS with up to 1.5 million stored records $ 1,000/mo. · 30+ CUSIPS with up to $2.5 million stored records $ 1,200/mo. A fee of $250 per month will be charged for each additional million records stored beyond the number included as part of the monthly fee. The above also pay out-of-pocket expenses will increase fees charged by DTCC of $850/mo. for up to the extent that SunGard increases its pricing under the contract between UMB Fund Services and SunGard25 CUSIPs or $2,000/mo. In addition to the fees noted above, certain third-party fees and expenses (including NSCC charges) may be billed directly by the applicable third-party provider or passed through by UMB Fund Servicesfor 26+ CUSIPs.

Optional Services. The Funds may contract with UMBFS Transfer Agent to provide one or more of the following optional servicesservices for additional fees. Additional fees apply. · UMBFS’ • Transfer Agent’s Internet services, including Adviser Services, RIA/Broker Services, Shareholder Services, NAV Services, Vision, Adviser Central and email services. · UMBISG services • VRU services (per fund group) · • Shareholder “welcome” packages with initial confirmation · • Access to UMBFS’ Transfer Agent’s Tax and Retirement Group to answer questions and coordinate retirement plan options · Money • Arrange to make available money market funds for short-term investment or exchanges · • Dedicated service representatives · • Weekend and holiday shareholder services · • Customized reorder form tracking · • Give dealers access through NSCC’s Fund/SERV and Networking · • Customized forms forms, applications and applications · statements • Training of adviser staff on regulatory developments · USA PATRIOT Act Included Fees will be allocated across the Funds on a prorated basis by relative net assets. $ 600,000 Annual base fee, per fund $ 20,000 · Share classes in addition to the first (per month, per class) $ 500 · Per-Account Fees • Open account fee: · Quarterly/annual dividend funds $ 12.00 · Monthly dividend funds $ 12.00 · Daily dividend funds $ 12.00 · fee • Non-Matrix level 3 accounts $ 8.50 · 9.00 • Matrix level 3 accounts $ 5.00 • Closed account fee (per year) $ 3.00 · One-time set-up 1.50 • Telephone calls (manual, per accountminute) $ 3.00 · One1.00 • Letters/e-time set-up (automated NSCCmails, per account) $ 1.50 · Transaction fee (e.g., financial, maintenance) $ 2.00 · Automated transactions* $ .35 *includes NSCC activity processing, AIP/SWP/auto exchanges, dividends, any required IRS withholding · Per fund (per year) $ 1,000 · Additional account set-up (per non-individual account)* $ 1.00 · Suspicious Activity Report filing research shareholder (per occurrence) $ 25.00 · Escheatment filing (per state) $ 50.00 *e.g., business account, trust account, partnership account, etc. CCO Support Services(1) 2.00 Annual fee per fund family $ 1,500 · Waived • Annual maintenance fee per account type/SSN (may be charged to shareholders) $ 15.00 · 10.00 • ▇▇▇ transfer/rollover/recharacterization/RMD fee (per occurrence) $ 15.00 Advanced Reporting Solutions(1) · 10.00 • Annual maintenance fee* $ 5,000 · Waived • Additional interactive user license (per license per year) $ 1,000 · Analyst named user license (per license per year) $ 2,500 ** Annual maintenance fee includes initial setup costs plus one five interactive user license · Telephone calls, letterslicenses • Conversion of Statements/e-mails, research/lost shareholder (per occurrence) $ 3.00 · Confirms to Pinnacle* Waived • Standard applications and forms in electronic format no charge · • Customized forms as quoted · • Pre-printed, machine-ready statement inserts (per item) )* $ .03 · • Standard single-sided statement/confirm/tax form/check (per item including .pdf) · )* • First page $ .30 · .20 • Each additional page $ .15 .10 * Charges specific to Pinnacle Data Systems Additional fees at $175 per hour, or as quoted by project, may apply for special programming or projects to meet your servicing requirements or to create custom reports. Conversion Costs No charge with 3-year agreement (Any special programming and any conversion-related fees paid to outside parties will be passed through to ▇▇▇▇▇) Out-of-Pocket Expenses Out-of-pocket expenses include, include but are not limited to, to annual year-end programming fees, copying charges, facsimile charges, inventory and record storage and reprocessing, statement paper, check stock, envelopes, tax forms, postage and direct delivery charges, tape/disk storage, travel, CPU usage, telephone and long distance charges, VPN/VNET fees, retirement plan documents, proxies and proxy services, DTCC/NSCC participant billing, manual cost basis processing, P.O. box rental, toll-free number, customer identity check fees, bank account service fees and any other bank charges, termination of service fees, and expenses, including but not limited to attorney’s fees, incurred in connection with responding to and complying with SEC or other regulatory investigations, inquiries or subpoenas, excluding routine examinations of UMB in its capacity as a service provider provider. All fees, other than basis point fees, are subject to an annual escalation equal to the fundsincrease in the Consumer Price Index–Urban Wage Earners (CPI). Money Market Exchange Vehicles(1) · Exception check writing (per set definitionSuch escalations shall be effective commencing one year from the effective date of each Fund and the corresponding date each year thereafter. No amendment of this fee schedule shall be required with each escalation. CPI will be determined by reference to the Consumer Price Index News Release issued by the Bureau of Labor Statistics, per occurrence) $ 2.00 · U.S. Department of Labor. • Tier 1: Activate Mutual Fund Profile II – Advisor populates data No fee • Tier 2: Activate Mutual Fund Profile II – UMBFS supports Advisor in populating data • One-time set-up fee per money market fund used $ 2,000 · Monthly base fee per money market fund used $ 650 NSCC and Fund/SERV Trading(1) Use of UMB Distribution Services, LLC’s NSCC membership (per fundfee, per year) · Each of first three funds in fund family $ 2,000 · Each additional fund $ 1,000 VRU Services(1) · One-time VRU set-up fee $ 3,500 · Annual VRU maintenance fee $ 2,500 · VRU charge (per call) $ .40 Internet Services(1) · Broker Browser · One-time set-up fee (standard) $ 1,500 · Inquiry no charge · Shareholder Browser · One-time set-up fee $ 7,500 · Annual N/A • Monthly maintenance fee – up to 50,000 accounts $ 7,500 · Annual 25 CUSIPs N/A • Monthly maintenance fee – over 50,000 accounts $ 15,000 · Inquiry (per occurrence) $ .15 · New account set-up, one-time fee per account $ 2.50 · Transactionsmore than 25 CUSIPs N/A * and account maintenance (per occurrence) $ .50 *additional purchases, exchanges and redemptions · Web-based document mailings* · One-time set-up fee $ 4,000 · Annual maintenance fee $ 1,500 · Per shareholder, per mailing $ .15 *statements, prospectuses, financial reports, etc. Rule 22c-2 Service Fees(1) Per fund family $ 5,000 Per CUSIP (billed monthly) $ 3,000/yr.* *Subject to a minimum of $5,000 per year, per fund family The Annual Management Fee applies to UMB Funds using Mutual Fund Services’ review and reporting of exception items. Additional reports or requests for data that are outside of the exception-based reporting process are deemed special projects billed at the rate shown in this fee schedule. · One-time fee to initiate STN 22c-2, per fund family $ 2,000 · Monthly fee for STN 22c-2 Profile II services The monthly fee is based on number of CUSIPs participating at time of service initiation. Pricing will increase or decrease based on CUSIP count annually (or more frequently upon occurrence of a merger or similar event) to the appropriate tier based on number of CUSIPs at time of adjustment: · 0–15 CUSIPS with up to 750,000 stored records $ 700/mo. · 16–30 CUSIPS with up to 1.5 million stored records $ 1,000/mo. · 30+ CUSIPS with up to $2.5 million stored records $ 1,200/mo. A fee of $250 per month will be charged for each additional million records stored beyond the number included as part of the monthly fee. The above also pay out-of-pocket expenses will increase fees charged by DTCC of $850/mo. for up to the extent that SunGard increases its pricing under the contract between UMB Fund Services and SunGard25 CUSIPs or $2,000/mo. In addition to the fees noted above, certain third-party fees and expenses (including NSCC charges) may be billed directly by the applicable third-party provider or passed through by UMB Fund Servicesfor 26+ CUSIPs.

Optional Services. The Funds may contract with UMBFS to provide one or more of the following optional services. Additional fees apply. · • UMBFS’ Internet services, including Adviser Services, RIA/Broker Services, Shareholder Services, NAV Services, Vision, Adviser Central and email services. · • UMBISG VRU services (per fund group) · • Shareholder “welcome” packages with initial confirmation · • Access to UMBFS’ Tax and Retirement Group to answer questions and coordinate retirement plan options · • Money market funds for short-term investment or exchanges · • Dedicated service representatives · • Weekend and holiday shareholder services · • Customized reorder form tracking · • Give dealers access through NSCC’s Fund/SERV and Networking · • Customized forms and applications · • Training of adviser staff on regulatory developments · • Annual base fee, fee per fund $ 20,000 · 25,000 • Share classes in addition to the first (per month, month per class) $ 500 · 750 • Open account fee: · • Quarterly/annual dividend funds $ 12.00 · 10.00 • Monthly dividend funds $ 12.00 · Daily dividend 10.50 • Money market funds $ 12.00 · Matrix level 3 accounts 11.00 • Additional for funds with redemption fees $ 8.50 · .25 • Additional for funds with 12b-1 fees $ .25 • Closed account fee (per year) $ 3.00 · 3.50 • One-time set-up (manual, per account) $ 3.00 · • One-time set-up (automated NSCC, per account) $ 1.50 · 1.00 • Transaction fee (e.g., financial, maintenance) $ 2.00 · 1.50 • Automated transactions* $ .35 *.25 * includes NSCC activity processing, AIP/SWP/auto exchanges, dividends, any required IRS withholding · • Per fund (per year) $ 1,000 · 2,000 • Research (per item) $ 2.50 • Additional account set-up (per non-individual account)* $ 1.00 · • Suspicious Activity Report filing (per occurrence) $ 25.00 · • Escheatment filing (per state) $ 50.00 ** e.g., business account, trust account, partnership account, etc. CCO Support Services(1) Annual fee per fund family $ 1,500 · Annual maintenance fee per account (may be charged to shareholders) $ 15.00 · ▇▇▇ transfer/rollover/recharacterization/RMD fee (per occurrence) $ 15.00 Advanced Reporting Solutions(1) · Annual maintenance fee* $ 5,000 · Additional interactive user license (per license per year) $ 1,000 · Analyst named user license (per license per year) $ 2,500 *Annual maintenance fee includes initial setup costs plus one interactive user license · Telephone calls, letters/e-mails, research/lost shareholder (per occurrence) $ 3.00 · Standard applications and forms in electronic format no charge · Customized forms as quoted · Pre-printed, machine-ready statement inserts (per item) $ .03 · Standard single-sided statement/confirm/tax form/check (per item including .pdf) · First page $ .30 · Each additional page $ .15 Additional fees at $175 per hour, or as quoted by project, may apply for special programming or projects to meet your servicing requirements or to create custom reports. Out-of-pocket expenses include, but are not limited to, annual year-end programming fees, copying charges, facsimile charges, inventory and record storage and reprocessing, statement paper, check stock, envelopes, tax forms, postage and direct delivery charges, tape/disk storage, travel, CPU usage, telephone and long distance charges, VPN/VNET fees, retirement plan documents, proxies and proxy services, NSCC participant billing, P.O. box rental, toll-free number, customer identity check fees, bank account service fees and any other bank charges, and expenses, including but not limited to attorney’s fees, incurred in connection with responding to and complying with SEC or other regulatory investigations, inquiries or subpoenas, excluding routine examinations of UMB in its capacity as a service provider to the funds. Money Market Exchange Vehicles(1) · Exception check writing (per set definition, per occurrence) $ 2.00 · One-time set-up fee per money market fund used $ 2,000 · Monthly base fee per money market fund used $ 650 NSCC and Fund/SERV Trading(1) Use of UMB Distribution Services, LLC’s NSCC membership (per fund, per year) · Each of first three funds in fund family $ 2,000 · Each additional fund $ 1,000 VRU Services(1) · One-time VRU set-up fee $ 3,500 · Annual VRU maintenance fee $ 2,500 · VRU charge (per call) $ .40 Internet Services(1) · Broker Browser · One-time set-up fee (standard) $ 1,500 · Inquiry no charge · Shareholder Browser · One-time set-up fee $ 7,500 · Annual maintenance fee – up to 50,000 accounts $ 7,500 · Annual maintenance fee – over 50,000 accounts $ 15,000 · Inquiry (per occurrence) $ .15 · New account set-up, one-time fee per account $ 2.50 · Transactions* and account maintenance (per occurrence) $ .50 *additional purchases, exchanges and redemptions · Web-based document mailings* · One-time set-up fee $ 4,000 · Annual maintenance fee $ 1,500 · Per shareholder, per mailing $ .15 *statements, prospectuses, financial reports, etc. Rule 22c-2 Service Fees(1) Per fund family $ 5,000 Per CUSIP (billed monthly) $ 3,000/yr.* *Subject to a minimum of $5,000 per year, per fund family The Annual Management Fee applies to UMB Fund Services’ review and reporting of exception items. Additional reports or requests for data that are outside of the exception-based reporting process are deemed special projects billed at the rate shown in this fee schedule. · One-time fee to initiate STN 22c-2, per fund family $ 2,000 · Monthly fee for STN 22c-2 services The monthly fee is based on number of CUSIPs participating at time of service initiation. Pricing will increase or decrease based on CUSIP count annually (or more frequently upon occurrence of a merger or similar event) to the appropriate tier based on number of CUSIPs at time of adjustment: · 0–15 CUSIPS with up to 750,000 stored records $ 700/mo. · 16–30 CUSIPS with up to 1.5 million stored records $ 1,000/mo. · 30+ CUSIPS with up to $2.5 million stored records $ 1,200/mo. A fee of $250 per month will be charged for each additional million records stored beyond the number included as part of the monthly fee. The above out-of-pocket expenses will increase to the extent that SunGard increases its pricing under the contract between UMB Fund Services and SunGard. In addition to the fees noted above, certain third-party fees and expenses (including NSCC charges) may be billed directly by the applicable third-party provider or passed through by UMB Fund Services.

Optional Services. The Funds may contract with UMBFS to provide one or more of the following optional services. Additional fees apply. · ¨ UMBFS’ Internet services, including Adviser Services, RIA/Broker Services, Shareholder Services, NAV Services, Vision, Adviser Central and email services. · ¨ UMBISG VRU services (per fund group) · ¨ Shareholder “welcome” packages with initial confirmation · ¨ Access to UMBFS’ Tax and Retirement Group to answer questions and coordinate retirement plan options · ¨ Money market funds for short-term investment or exchanges · ¨ Dedicated service representatives · ¨ Weekend and holiday shareholder services · ¨ Customized reorder form tracking · ¨ Give dealers access through NSCC’s Fund/SERV and Networking · ¨ Customized forms and applications · Training of adviser staff on regulatory developments · n Annual base fee, net asset-based fee per fund $ 20,000 · .5 basis points Subject to an annual minimum for funds up to $50 million in assets o No-load fund $18,000 o Load or daily accrual fund $22,000 Subject to an annual minimum for funds over $50 million in assets o No-load fund $28,000 o Load or daily accrual fund $30,000 n Share classes in addition to the first (per month, per class) $ 500 · $1,000 **The higher of either account fees plus basis points or minimums will be used to determine the base fee. n Open account fee: · o Quarterly/annual dividend funds $ 12.00 · $14.00 o Monthly dividend funds $ 12.00 · Daily dividend $15.00 o Money market funds $ 12.00 · Matrix level 3 accounts $ 8.50 · $19.00 n Closed account fee (per year) $ 3.00 · One-time set-up (manual, per account) $ 3.00 · One-time set-up (automated NSCC, per account) $ 1.50 · Transaction fee (e.g., financial, maintenance) $ 2.00 · Automated transactions* $ .35 *includes NSCC activity processing, AIP/SWP/auto exchanges, dividends, any required IRS withholding · Per fund (per year) $ 1,000 · Additional account set-up (per non-individual account)* $ 1.00 · Suspicious Activity Report filing (per occurrence) $ 25.00 · Escheatment filing (per state) $ 50.00 *e.g., business account, trust account, partnership account, etc. CCO Support Services(1) Annual fee per fund family $ 1,500 · $2.50 n Annual maintenance fee per account (may be charged to shareholders) $ $15.00 · n ▇▇▇ transfer/rollover/recharacterization/RMD distribution fee (per occurrence) $ $15.00 Advanced Reporting Solutions(1) · Annual maintenance fee* $ 5,000 · Additional interactive user license (per license per year) $ 1,000 · Analyst named user license (per license per year) $ 2,500 *Annual maintenance fee includes initial setup costs plus one interactive user license · Telephone calls, letters/e-mails, research/lost shareholder (per occurrence) $ 3.00 · n Standard applications and forms in electronic format no charge · Included n Customized forms as quoted · Pre-printed, machine-ready statement inserts (per item) $ .03 · Standard single-sided statement/confirm/tax form/check (per item including .pdf) · First page $ .30 · Each additional page $ .15 Included Additional fees at $175 per hour, or as quoted by project, may apply for special programming or projects to meet your servicing requirements or to create custom reports. Conversion Costs TBD Out-of-pocket expenses include, include but are not limited to, to annual year-end programming fees, copying charges, facsimile charges, inventory and record storage and reprocessing, statement paper, check stock, envelopes, tax forms, postage and direct delivery charges, tape/disk storage, travel, CPU usage, telephone and long distance charges, VPN/VNET fees, retirement plan documents, proxies and proxy services, NSCC participant billing, P.O. box rental, toll-free number, customer identity check fees, bank account service fees and any other bank charges, and expenses, including but not limited to attorney’s fees, incurred in connection with responding to and complying with SEC or other regulatory investigations, inquiries or subpoenas, excluding routine examinations of UMB in its capacity as a service provider to the funds. Money Market Exchange Vehicles(1) · Exception check writing (per set definition, per occurrence) $ 2.00 · One-time set-up fee per money market fund used $ 2,000 · Monthly base fee per money market fund used $ 650 NSCC and Fund/SERV Trading(1) Use of UMB Distribution Services, LLC’s NSCC membership (per fund, per year) · Each of *Transfer Agency Service fees will be discounted by 60% for the first three funds in fund family $ 2,000 · Each additional fund $ 1,000 VRU Services(1) · One-time VRU set-up fee $ 3,500 · Annual VRU maintenance fee $ 2,500 · VRU charge (per call) $ .40 Internet Services(1) · Broker Browser · One-time set-up fee (standard) $ 1,500 · Inquiry no charge · Shareholder Browser · One-time set-up fee $ 7,500 · Annual maintenance fee – up to 50,000 accounts $ 7,500 · Annual maintenance fee – over 50,000 accounts $ 15,000 · Inquiry (per occurrence) $ .15 · New account set-up, one-time fee per account $ 2.50 · Transactions* and account maintenance (per occurrence) $ .50 *additional purchases, exchanges and redemptions · Web-based document mailings* · One-time set-up fee $ 4,000 · Annual maintenance fee $ 1,500 · Per shareholder, per mailing $ .15 *statements, prospectuses, financial reports, etc. Rule 22c-2 Service Fees(1) Per fund family $ 5,000 Per CUSIP (billed monthly) $ 3,000/yr.* *Subject to a minimum of $5,000 per year, per fund family The Annual Management Fee applies to UMB Fund Services’ review and reporting of exception items. Additional reports or requests for data that are outside of the exception-based reporting process are deemed special projects billed at the rate shown in this fee schedule. · One-time fee to initiate STN 22c-2, per fund family $ 2,000 · Monthly fee for STN 22c-2 services The monthly fee is based on number of CUSIPs participating at time of service initiation. Pricing will increase or decrease based on CUSIP count annually (or more frequently upon occurrence of a merger or similar event) 9 months after conversion to the appropriate tier based on number of CUSIPs at time of adjustment: · 0–15 CUSIPS with up to 750,000 stored records $ 700/mo. · 16–30 CUSIPS with up to 1.5 million stored records $ 1,000/mo. · 30+ CUSIPS with up to $2.5 million stored records $ 1,200/mo. A fee of $250 per month will be charged for each additional million records stored beyond the number included as part of the monthly fee. The above out-of-pocket expenses will increase to the extent that SunGard increases its pricing under the contract between UMB Fund Services and SunGard. In addition to the fees noted above, certain third-party fees and expenses (including NSCC charges) may be billed directly by the applicable third-party provider or passed through by UMB Fund ServicesInvestment Manager’s Series Trust.

Optional Services. The Funds may contract with UMBFS to provide one or more of the following optional services. Additional fees apply. · UMBFS’ Internet services, including Adviser Services, RIA/Broker Services, Shareholder Services, NAV Services, Vision, Adviser Central ¨ Personal follow-up calls to prospects who return incomplete applications ¨ Comprehensive clerical confirmation statements for maintenance transactions ¨ Average cost calculations and email services. · UMBISG VRU services (per fund group) · cost basis statements ¨ Shareholder “welcome” packages with initial confirmation · ¨ Access to UMBFS’ Tax and Retirement Group to answer questions and coordinate retirement plan options · ¨ Follow up on IRAs, soliciting beneficiary and other information and sending required minimum distribution reminder letters ¨ Money market funds for short-term investment or exchanges · ¨ Dedicated service representatives · ¨ Weekend and holiday shareholder services · ¨ Customized reorder form tracking · ¨ Give dealers access through NSCC’s Fund/SERV and Networking · ¨ Customized forms and applications · Training of adviser staff on regulatory developments · Annual base fee, per fund $ 20,000 · Share classes in addition to the first The following fees are charged for standard shareholder services: ¨ Open account fee (per month, per classyear) $ 500 · Open account fee: · Quarterly/annual dividend à No load equity and non-daily accrual fixed income funds $ 12.00 · Monthly dividend $8.50 ¨ Additional for 12b-1 fee $0.75 ¨ Additional for front-end load $1.50 ¨ Additional for CDSC or back-end load $2.00 à Money market and daily accrual fixed income funds $ 12.00 · Daily dividend funds $ 12.00 · Matrix level 3 accounts $ 8.50 · $11.00 ¨ Additional for 12b-1 fee $0.75 ¨ Additional for front-end load $1.50 ¨ Additional for CDSC or back-end load $2.00 ¨ Closed account fee (per year) $ $3.00 · One-time ¨ Monthly base (per fund) à One to three funds in fund family $1,500 à 4 or more funds in fund family $1,000 à Add for multiclass (per class) 25% ¨ New account set up $3.00 ¨ Financial transactions $1.50 ¨ Maintenance transactions $1.00 ¨ Research/correspondence $2.50 ¨ Transfer on death (▇▇▇) set-up (manual, per account) $ 3.00 · One-time $7.50 ¨ Fund/SERV à Initial set-up per fund family $3,500 à Set-up fee per subsequent CUSIP $1,000 à New account set-up $1.00 à Per transaction - no load fund $0.25 à Per transaction - load fund $0.35 à Adjustments and rebills $2.50 à Fund/SERV direct charges at cost ¨ Commission/SERV (automated NSCC, per accountcheck) $ 1.50 · Transaction fee (e.g., financial, maintenance) $ 2.00 · Automated transactions* $ .35 *includes NSCC activity processing, $0.25 ¨ ACH/AIP/SWP/auto exchanges, dividends, any required IRS withholding · automatic exchanges à Set-up $1.00 à Per fund transaction $0.25 ¨ Withholding per eligible account per year $0.25 ¨ Account transcripts older than 2 years (may be charged to shareholders) $5.00 ¨ Locating lost shareholders $8.00 ¨ Postal clean up per account $3.00 ¨ Tax ID number solicitation $2.50 ¨ Telephone calls (per yearcall) $ 1,000 · Additional account set-up (per non-individual account)* $ 1.00 · Suspicious Activity Report filing (per occurrence) $ 25.00 · Escheatment filing (per state) $ 50.00 *e.g., business account, trust account, partnership account, etc. CCO Support Services(1) Annual fee per fund family $ 1,500 · $2.50 ¨ Annual maintenance fee per omnibus account $150 ¨ Retirement accounts (▇▇▇/▇▇▇▇/others) à Annual maintenance per account (may be charged to shareholders) $ 15.00 · $12.50 à Account distribution (may be charged to shareholders) $12.50 ¨ ▇▇▇ transfer/rolloverrollover $7.50 ¨ Per statement, confirmation and check processing $0.25 ¨ Per tax form processing $0.25 ¨ Per label printing for proxy or marketing purposes $0.10 ¨ Bulk mailings/recharacterization/RMD insert handling charge à 1 insert $0.06 à 2 - 3 inserts $0.08 à 4 or more inserts as quoted ¨ Production of ad hoc reports starting at $100 ¨ One-time set up per money market fund used $2,000 ¨ Monthly base fee (per occurrence) $ 15.00 Advanced Reporting Solutions(1) · Annual maintenance fee* $ 5,000 · Additional interactive user license (per license per year) $ 1,000 · Analyst named user license (per license per year) $ 2,500 *Annual maintenance fee includes initial setup costs plus one interactive user license · Telephone calls, letters/e-mails, research/lost shareholder (per occurrence) $ 3.00 · money market fund used $650 ¨ Money market checkbooks at cost ¨ Signature verification of check writing $2.00 ¨ Standard applications and forms in electronic format no charge · ¨ Customized forms as quoted · Pre-printed, machine-ready statement inserts ¨ Base fee (per itemoccurrence, per day, per fund) $ .03 · Standard single-sided statement$750 ¨ Transaction fee $1.00 ¨ Use of UMBFS Fund/confirm/tax form/check SERV membership (per item including .pdffund/per year) · à First page $ .30 · Each additional page $ .15 Additional fees at three funds in fund family $175 2,000 à 4 or more funds $1,000 ¨ Copying charges (per hour, or as quoted by project, may apply for special programming or projects to meet your servicing requirements or to create custom reports. Out-of-pocket expenses include, but are not limited to, annual year-end programming fees, copying charges, facsimile charges, inventory page) $0.15 ¨ Facsimile charges (per fax) $1.25 ¨ Inventory and record records storage and reprocessing, statement $20.00/pallet ¨ Statement paper, check stock, envelopes, tax forms, postage forms at cost ¨ Postage and direct express delivery charges, tapecharges at cost ¨ Tape/disk storage, travel, CPU usage, telephone storage at cost ¨ Telephone and long distance charges, VPN/VNET fees, retirement plan documents, proxies and proxy services, NSCC participant billing, at cost ¨ P.O. box rental, tollrental at cost ¨ Toll-free number, customer identity check fees, bank number at cost ¨ Bank account service fees and any other bank charges, and expenses, including but not limited to attorney’s fees, incurred in connection with responding to and complying with SEC or other regulatory investigations, inquiries or subpoenas, excluding routine examinations of UMB in its capacity as a service provider to the funds. Money Market Exchange Vehicles(1) · Exception charges at cost ¨ Outgoing wire fee varies by bank ¨ Non-sufficient funds varies by bank ¨ Stopped check writing (per set definition, per occurrence) $ 2.00 · One-time set-up fee per on money market fund used $ 2,000 · Monthly base fee per money market fund used $ 650 NSCC funds $25.00 Certain premium services described on Schedule B may be purchased on an as-needed basis. Fees for premium services will be based on UMBFS’ current rate at the time services are purchased. THIS ADDENDUM, dated June 21, 2007, modifies the Transfer Agency Agreement by and Fund/SERV Trading(1) Use of UMB Distribution Services, LLC’s NSCC membership (per fund, per year) · Each of first three funds in fund family $ 2,000 · Each additional fund $ 1,000 VRU Services(1) · One-time VRU set-up fee $ 3,500 · Annual VRU maintenance fee $ 2,500 · VRU charge (per call) $ .40 Internet Services(1) · Broker Browser · One-time set-up fee (standard) $ 1,500 · Inquiry no charge · Shareholder Browser · One-time set-up fee $ 7,500 · Annual maintenance fee – up to 50,000 accounts $ 7,500 · Annual maintenance fee – over 50,000 accounts $ 15,000 · Inquiry (per occurrence) $ .15 · New account set-up, one-time fee per account $ 2.50 · Transactions* and account maintenance (per occurrence) $ .50 *additional purchases, exchanges and redemptions · Web-based document mailings* · One-time set-up fee $ 4,000 · Annual maintenance fee $ 1,500 · Per shareholder, per mailing $ .15 *statements, prospectuses, financial reports, etc. Rule 22c-2 Service Fees(1) Per fund family $ 5,000 Per CUSIP (billed monthly) $ 3,000/yr.* *Subject to a minimum of $5,000 per year, per fund family The Annual Management Fee applies to between UMB Fund Services’ review , Inc. (“UMBFS”) and reporting of exception items. Additional reports or requests for data that are outside of Adelante Funds (the exception-based reporting process are deemed special projects billed at “Trust”), such Transfer Agency Agreement being hereinafter referred to as the rate shown in this fee schedule. · One-time fee to initiate STN 22c-2, per fund family $ 2,000 · Monthly fee for STN 22c-2 services The monthly fee is based on number of CUSIPs participating at time of service initiation. Pricing will increase or decrease based on CUSIP count annually (or more frequently upon occurrence of a merger or similar event) to the appropriate tier based on number of CUSIPs at time of adjustment: · 0–15 CUSIPS with up to 750,000 stored records $ 700/mo. · 16–30 CUSIPS with up to 1.5 million stored records $ 1,000/mo. · 30+ CUSIPS with up to $2.5 million stored records $ 1,200/mo. A fee of $250 per month will be charged for each additional million records stored beyond the number included as part of the monthly fee. The above out-of-pocket expenses will increase to the extent that SunGard increases its pricing under the contract between UMB Fund Services and SunGard. In addition to the fees noted above, certain third-party fees and expenses (including NSCC charges) may be billed directly by the applicable third-party provider or passed through by UMB Fund Services“Agreement.”

Optional Services. The Funds may contract with UMBFS to provide one or more of the following optional services. Additional fees apply. · w UMBFS’ Internet services, including Adviser Services, RIA/Broker Services, Shareholder Services, NAV Services, Vision, Adviser Central and email services. · UMBISG w UMBFS VRU services (per fund group) · w Shareholder “welcome” packages with initial confirmation · w Access to UMBFS’ Tax and Retirement Group to answer questions and coordinate retirement plan options · w Money market funds for short-term investment or exchanges · w Dedicated service representatives · w Weekend and holiday shareholder services · w Customized reorder form tracking · w Give dealers access through NSCC’s Fund/SERV and Networking · w Customized forms and applications · w Training of adviser staff on regulatory developments · n Annual base asset-based fee, per fund $ 20,000 · * .5 bps n Share classes in addition to the first (per month, month per class) $ 500 · $750 * subject to an annual minimum of $30,000 n Open account fee: · o Quarterly/annual dividend funds $ 12.00 · $9.50 o Monthly dividend funds $ $10.50 o Money market funds $12.00 · Daily dividend o Additional for funds $ 12.00 · Matrix level 3 accounts $ 8.50 · with redemption fees $.25 o Additional for funds with 12b-1 fees $.25 n Closed account fee (per year) $ 3.00 · $3.50 n One-time set-up (manual, per account) $ $3.00 · n One-time set-up (automated NSCC, per account) $ 1.50 · $1.00 n Transaction fee (e.g., financial, maintenance) $ 2.00 · $1.50 n Automated transactions* $ .35 $.25 *includes NSCC activity processing, AIP/SWP/auto exchanges, dividends, any required IRS withholding · n Per fund (per year) $ 1,000 · $2,000 n Research (per item) $2.50 n Additional account set-up (per non-individual account)* $ $1.00 · n Suspicious Activity Report filing (per occurrence) $ $25.00 · n Escheatment filing (per state) $ $50.00 *e.g., business account, trust account, partnership account, etc. CCO Support Services(1) Annual fee per fund family $ 1,500 · n Annual maintenance fee per account (may be charged to shareholders) $ $15.00 · n ▇▇▇ transfer/rollover/recharacterization/RMD transfer fee (per occurrence) $ 15.00 Advanced Reporting Solutions(1) · $7.50 n Annual maintenance fee* $ 5,000 · $3,500 n Additional interactive user license (per license per year) $ $1,000 · n Analyst named user license (per license per year) $ $2,500 ** Annual maintenance fee includes initial setup costs plus one interactive user license · n Telephone calls, letters/e-mails, research/lost shareholder (per occurrence) $ 3.00 · $2.75 n Standard applications and forms in electronic format no charge · n Customized forms as quoted · n Pre-printed, machine-ready statement inserts (per item) $ .03 · $.02 n Standard single-sided statement/confirm/tax form/check (per item including .pdf) · o First page $ .30 · $.25 o Each additional page $ .15 $.10 Additional fees at $175 per hour, or as quoted by project, may apply for special programming or projects to meet your servicing requirements or to create custom reports. Out-of-pocket expenses include, include but are not limited to, : annual year-end programming fees, copying charges, facsimile charges, inventory and record storage and reprocessing, statement paper, check stock, envelopes, tax forms, postage and direct delivery charges, tape/disk storage, travel, CPU usage, telephone and long distance charges, VPN/VNET fees, retirement plan documents, proxies and proxy services, NSCC participant billing, P.O. box rental, toll-free number, customer identity check fees, bank account service fees and any other bank chargesfees, and expenses, including but not limited to attorney’s feesfees and reasonable travel expenses of UMBFS employees, incurred in connection with responding to and complying with SEC or other regulatory investigations, inquiries or subpoenas, excluding routine examinations of UMB UMBFS in its capacity role as a service provider to the funds. Money Market Exchange Vehicles(1) · Exception check writing (per set definition, per occurrence) $ 2.00 · One-time set-up fee per money market fund used $ 2,000 · Monthly base fee per money market fund used $ 650 NSCC transfer agent and Fund/SERV Trading(1) Use of UMB Distribution Services, LLC’s NSCC membership (per fund, per year) · Each of first three funds in fund family $ 2,000 · Each additional fund $ 1,000 VRU Services(1) · One-time VRU set-up fee $ 3,500 · Annual VRU maintenance fee $ 2,500 · VRU charge (per call) $ .40 Internet Services(1) · Broker Browser · One-time set-up fee (standard) $ 1,500 · Inquiry no charge · Shareholder Browser · One-time set-up fee $ 7,500 · Annual maintenance fee – up to 50,000 accounts $ 7,500 · Annual maintenance fee – over 50,000 accounts $ 15,000 · Inquiry (per occurrence) $ .15 · New account set-up, one-time fee per account $ 2.50 · Transactions* and account maintenance (per occurrence) $ .50 *additional purchases, exchanges and redemptions · Web-based document mailings* · One-time set-up fee $ 4,000 · Annual maintenance fee $ 1,500 · Per shareholder, per mailing $ .15 *statements, prospectuses, financial reports, etc. Rule 22c-2 Service Fees(1) Per fund family $ 5,000 Per CUSIP (billed monthly) $ 3,000/yrany other bank charges.* *Subject to a minimum of $5,000 per year, per fund family The Annual Management Fee applies to UMB Fund Services’ review and reporting of exception items. Additional reports or requests for data that are outside of the exception-based reporting process are deemed special projects billed at the rate shown in this fee schedule. · One-time fee to initiate STN 22c-2, per fund family $ 2,000 · Monthly fee for STN 22c-2 services The monthly fee is based on number of CUSIPs participating at time of service initiation. Pricing will increase or decrease based on CUSIP count annually (or more frequently upon occurrence of a merger or similar event) to the appropriate tier based on number of CUSIPs at time of adjustment: · 0–15 CUSIPS with up to 750,000 stored records $ 700/mo. · 16–30 CUSIPS with up to 1.5 million stored records $ 1,000/mo. · 30+ CUSIPS with up to $2.5 million stored records $ 1,200/mo. A fee of $250 per month will be charged for each additional million records stored beyond the number included as part of the monthly fee. The above out-of-pocket expenses will increase to the extent that SunGard increases its pricing under the contract between UMB Fund Services and SunGard. In addition to the fees noted above, certain third-party fees and expenses (including NSCC charges) may be billed directly by the applicable third-party provider or passed through by UMB Fund Services.

Optional Services. The Funds may contract with UMBFS Transfer Agent to provide one or more of the following optional servicesservices for additional fees. Additional fees apply. · UMBFS’ • Transfer Agent’s Internet services, including Adviser Services, RIA/Broker Services, Shareholder Services, NAV Services, Vision, Adviser Central and email services. · UMBISG services • VRU services (per fund group) · • Shareholder “welcome” packages with initial confirmation · • Access to UMBFS’ Transfer Agent’s Tax and Retirement Group to answer questions and coordinate retirement plan options · Money • Arrange to make available money market funds for short-term investment or exchanges · • Dedicated service representatives · • Weekend and holiday shareholder services · • Customized reorder form tracking · • Give dealers access through NSCC’s Fund/SERV and Networking · • Customized forms forms, applications and applications · statements • Training of adviser staff on regulatory developments · • Annual base net asset-based fee, * per fund $ 20,000 · waived • Share classes in addition to the first (per month, per class) $ 500 · 750 * subject to an annual minimum of $15,000 • Open account fee: · Quarterly/annual dividend funds $ 12.00 · Monthly dividend funds $ 12.00 · Daily dividend funds $ 12.00 · ☐ Non Matrix level 3 accounts $ 8.50 · 10.00 ☐ Matrix level 3 accounts $ 7.00 • Closed account fee (per year) $ 3.00 · One-time set-up (manual, per account) $ 3.00 · One-time set-up (automated NSCC, per account) $ 1.50 · Transaction fee (e.g., financial, maintenance) $ 2.00 · Automated transactions* $ .35 *includes NSCC activity processing, AIP/SWP/auto exchanges, dividends, any required IRS withholding · 2.50 • Per fund (per year) $ 1,000 · Additional account set-up (per non-individual account)* $ 1.00 · 2,000 • Suspicious Activity Report filing (per occurrence) $ 25.00 · • Escheatment filing (per state) $ $50.00 *e.g., business account, trust account, partnership account, etc. CCO Support Services(1) Annual fee per fund family $ 1,500 · • Annual maintenance fee per account (may be charged to shareholders) $ 15.00 · • ▇▇▇ transfer/rollover/recharacterization/RMD fee (per occurrence) $ 15.00 Advanced Reporting Solutions(1) · • Annual maintenance fee* $ 5,000 · 2,500 • Additional interactive user license (per license per year) $ 1,000 · Analyst named user license (per license per year) $ 2,500 ** Annual maintenance fee includes initial setup costs plus one interactive user license · • Telephone calls, letterscalls (per minute) $ 1.00 • Letters/e-mails, research/lost shareholder (per occurrence) $ 3.00 · 2.75 • Standard applications and forms in electronic format no charge · • Customized forms as quoted · • Pre-printed, machine-ready statement inserts (per item) $ $.03 · • Standard single-sided statement/confirm/tax form/check (per item including .pdf) · ☐ First page $ .30 · ☐ Each additional page $ .15 Additional fees at $175 per hour, or as quoted by project, may apply for special programming or projects to meet your servicing requirements or to create custom reports. Out-of-pocket expenses include, but are not limited to, annual year-end programming fees, copying charges, facsimile charges, inventory and record storage and reprocessing, statement paper, check stock, envelopes, tax forms, postage and direct delivery charges, tape/disk storage, travel, CPU usage, telephone and long distance charges, VPN/VNET fees, retirement plan documents, proxies and proxy services, NSCC participant billing, P.O. box rental, toll-free number, customer identity check fees, bank account service fees and any other bank charges, and expenses, including but not limited to attorney’s fees, incurred in connection with responding to and complying with SEC or other regulatory investigations, inquiries or subpoenas, excluding routine examinations of UMB in its capacity as a service provider to the funds. Money Market Exchange Vehicles(1) · Exception check writing (per set definition, per occurrence) $ 2.00 · One-time set-up fee per money market fund used $ 2,000 · Monthly base fee per money market fund used $ 650 NSCC and Fund/SERV Trading(1) Use of UMB Distribution Services, LLC’s NSCC membership (per fund, per year) · Each of first three funds in • Per fund family $ 3,000 Rule 22c-2 Service Fees One-time Set-up Fee Per fund family $ 2,000 · Each additional fund $ 1,000 VRU Services(1) · One-time VRU set-up fee $ 3,500 · Annual VRU maintenance fee $ 2,500 · VRU charge (per call) $ .40 Internet Services(1) · Broker Browser · One-time set-up fee (standard) $ 1,500 · Inquiry no charge · Shareholder Browser · One-time set-up fee $ 7,500 · Annual maintenance fee – up to 50,000 accounts $ 7,500 · Annual maintenance fee – over 50,000 accounts $ 15,000 · Inquiry (per occurrence) $ .15 · New account set-up, one-time fee per account $ 2.50 · Transactions* and account maintenance (per occurrence) $ .50 *additional purchases, exchanges and redemptions · Web-based document mailings* · One-time set-up fee $ 4,000 · Annual maintenance fee $ 1,500 · Per shareholder, per mailing $ .15 *statements, prospectuses, financial reports, etc. Rule Management Fee for STN 22c-2 Service Fees(1) Per fund family $ 5,000 Services Per CUSIP (billed monthly) $ 3,000/yr.. * ** Subject to a minimum of $5,000 per year, per fund family The Annual Management Fee applies to UMB Fund Services’ Transfer Agent’s review and reporting of exception items. Additional reports or requests for data that are outside of the exception-based reporting process are deemed special projects billed at the rate shown in this fee schedule. · Out-of-Pocket Expenses • One-time fee to initiate STN 22c-2, per fund family $ 2,000 · • Monthly fee for STN 22c-2 services The monthly fee is based on number of CUSIPs participating at time of service initiation. Pricing will increase or decrease based on CUSIP count annually (or more frequently upon occurrence of a merger or similar event) to the appropriate tier based on number of CUSIPs at time of adjustment: · ☐ 0–15 CUSIPS with up to 750,000 900,000 stored records $ 700560/mo. · ☐ 16–30 CUSIPS with up to 1.5 1.8 million stored records $ 1,000800/mo. · 30☐ 31+ CUSIPS with up to $2.5 million stored records $ 1,200960/mo. A fee of $250 200 per month will be charged for each additional 1.2 million records stored beyond the number included as part of the monthly fee. The above out-of-pocket expenses will increase to the extent that SunGard increases its pricing under the contract between UMB Fund Services and SunGard. In addition to the fees noted above, certain third-party fees and expenses (including NSCC charges) may be billed directly by the applicable third-party provider or passed through by UMB Fund Services.

Optional Services. The Funds may contract with UMBFS Transfer Agent to provide one or more of the following optional servicesservices for additional fees. Additional fees apply. · UMBFS’ • Transfer Agent’s Internet services, including Adviser Services, RIA/Broker Services, Shareholder Services, NAV Services, Vision, Adviser Central and email services. · UMBISG services • VRU services (per fund group) · • Shareholder “welcome” packages with initial confirmation · • Access to UMBFS’ Transfer Agent’s Tax and Retirement Group to answer questions and coordinate retirement plan options · Money • Arrange to make available money market funds for short-term investment or exchanges · • Dedicated service representatives · • Weekend and holiday shareholder services · • Customized reorder form tracking · • Give dealers access through NSCC’s Fund/SERV and Networking · • Customized forms forms, applications and applications · statements • Training of adviser staff on regulatory developments · Annual base fee, per fund USA PATRIOT Act Included Fees will be allocated across the Funds on a prorated basis by relative net assets. $ 20,000 · Share classes in addition to the first (per month, per class) $ 500 · 600,000 • Open account fee: · Quarterly/annual dividend funds $ 12.00 · Monthly dividend funds $ 12.00 · Daily dividend funds $ 12.00 · fee • Non-Matrix level 3 accounts $ 8.50 · 9.00 • Matrix level 3 accounts $ 5.00 • Closed account fee (per year) $ 3.00 · One-time set-up 1.50 • Telephone calls (manual, per accountminute) $ 3.00 · One1.00 • Letters/e-time set-up (automated NSCCmails, per account) $ 1.50 · Transaction fee (e.g., financial, maintenance) $ 2.00 · Automated transactions* $ .35 *includes NSCC activity processing, AIP/SWP/auto exchanges, dividends, any required IRS withholding · Per fund (per year) $ 1,000 · Additional account set-up (per non-individual account)* $ 1.00 · Suspicious Activity Report filing research shareholder (per occurrence) $ 25.00 · Escheatment filing (per state) $ 50.00 *e.g., business account, trust account, partnership account, etc. CCO Support Services(1) 2.00 Annual fee per fund family $ 1,500 · Waived • Annual maintenance fee per account type/SSN (may be charged to shareholders) $ 15.00 · 10.00 • ▇▇▇ transfer/rollover/recharacterization/RMD fee (per occurrence) $ 15.00 Advanced Reporting Solutions(1) · 10.00 • Annual maintenance fee* $ 5,000 · Waived • Additional interactive user license (per license per year) $ 1,000 · Analyst named user license (per license per year) $ 2,500 ** Annual maintenance fee includes initial setup costs plus one five interactive user license · Telephone calls, letterslicenses • Conversion of Statements/e-mails, research/lost shareholder (per occurrence) $ 3.00 · Confirms to Pinnacle* Waived • Standard applications and forms in electronic format no charge · • Customized forms as quoted · • Pre-printed, machine-ready statement inserts (per item) )* $ .03 · • Standard single-sided statement/confirm/tax form/check (per item including .pdf) · )* • First page $ .30 · .20 • Each additional page $ .15 .10 * Charges specific to Pinnacle Data Systems Additional fees at $175 per hour, or as quoted by project, may apply for special programming or projects to meet your servicing requirements or to create custom reports. Conversion Costs No charge with 3-year agreement (Any special programming and any conversion-related fees paid to outside parties will be passed through to ▇▇▇▇▇) Out-of-Pocket Expenses Out-of-pocket expenses include, include but are not limited to, to annual year-end programming fees, copying charges, facsimile charges, inventory and record storage and reprocessing, statement paper, check stock, envelopes, tax forms, postage and direct delivery charges, tape/disk storage, travel, CPU usage, telephone and long distance charges, VPN/VNET fees, retirement plan documents, proxies and proxy services, DTCC/NSCC participant billing, manual cost basis processing, P.O. box rental, toll-free number, customer identity check fees, bank account service fees and any other bank charges, termination of service fees, and expenses, including but not limited to attorney’s fees, incurred in connection with responding to and complying with SEC or other regulatory investigations, inquiries or subpoenas, excluding routine examinations of UMB in its capacity as a service provider provider. All fees, other than basis point fees, are subject to an annual escalation equal to the fundsincrease in the Consumer Price Index–Urban Wage Earners (CPI). Money Market Exchange Vehicles(1) · Exception check writing (per set definitionSuch escalations shall be effective commencing one year from the effective date of each Fund and the corresponding date each year thereafter. No amendment of this fee schedule shall be required with each escalation. CPI will be determined by reference to the Consumer Price Index News Release issued by the Bureau of Labor Statistics, per occurrence) $ 2.00 · U.S. Department of Labor. NSCC’s Mutual Fund Profile II Services* • Tier 1: Activate Mutual Fund Profile II – Advisor populates data No fee • Tier 2: Activate Mutual Fund Profile II – UMBFS supports Advisor in populating data • One-time set-up fee per money market fund used $ 2,000 · Monthly base fee per money market fund used $ 650 NSCC and Fund/SERV Trading(1) Use of UMB Distribution Services, LLC’s NSCC membership (per fundfee, per year) · Each of first three funds in fund family $ 2,000 · Each additional fund $ 1,000 VRU Services(1) · One-time VRU set-up fee $ 3,500 · Annual VRU maintenance fee $ 2,500 · VRU charge (per call) $ .40 Internet Services(1) · Broker Browser · One-time set-up fee (standard) $ 1,500 · Inquiry no charge · Shareholder Browser · One-time set-up fee $ 7,500 · Annual N/A • Monthly maintenance fee – up to 50,000 accounts $ 7,500 · Annual 25 CUSIPs N/A • Monthly maintenance fee – over 50,000 accounts $ 15,000 · Inquiry (per occurrence) $ .15 · New account set-up, one-time fee per account $ 2.50 · Transactionsmore than 25 CUSIPs N/A * and account maintenance (per occurrence) $ .50 *additional purchases, exchanges and redemptions · Web-based document mailings* · One-time set-up fee $ 4,000 · Annual maintenance fee $ 1,500 · Per shareholder, per mailing $ .15 *statements, prospectuses, financial reports, etc. Rule 22c-2 Service Fees(1) Per fund family $ 5,000 Per CUSIP (billed monthly) $ 3,000/yr.* *Subject to a minimum of $5,000 per year, per fund family The Annual Management Fee applies to UMB Funds using Mutual Fund Services’ review and reporting of exception items. Additional reports or requests for data that are outside of the exception-based reporting process are deemed special projects billed at the rate shown in this fee schedule. · One-time fee to initiate STN 22c-2, per fund family $ 2,000 · Monthly fee for STN 22c-2 Profile II services The monthly fee is based on number of CUSIPs participating at time of service initiation. Pricing will increase or decrease based on CUSIP count annually (or more frequently upon occurrence of a merger or similar event) to the appropriate tier based on number of CUSIPs at time of adjustment: · 0–15 CUSIPS with up to 750,000 stored records $ 700/mo. · 16–30 CUSIPS with up to 1.5 million stored records $ 1,000/mo. · 30+ CUSIPS with up to $2.5 million stored records $ 1,200/mo. A fee of $250 per month will be charged for each additional million records stored beyond the number included as part of the monthly fee. The above also pay out-of-pocket expenses will increase fees charged by DTCC of $850/mo. for up to the extent that SunGard increases its pricing under the contract between UMB Fund Services and SunGard25 CUSIPs or $2,000/mo. In addition to the fees noted above, certain third-party fees and expenses (including NSCC charges) may be billed directly by the applicable third-party provider or passed through by UMB Fund Servicesfor 26+ CUSIPs.

Optional Services. The Funds may contract with UMBFS to provide one or more of the following optional services. Additional fees apply. · ¨ UMBFS’ Internet services, including Adviser Services, RIA/Broker Services, Shareholder Services, NAV Services, Vision, Adviser Central and email services. · UMBISG ¨ UMBFS’ VRU services (per fund group) · ¨ Shareholder “welcome” packages with initial confirmation · ¨ Access to UMBFS’ Tax and Retirement Group to answer questions and coordinate retirement plan options · ¨ Money market funds for short-term investment or exchanges · ¨ Dedicated service representatives · ¨ Weekend and holiday shareholder services · ¨ Customized reorder form tracking · Give dealers access through NSCC’s Fund/SERV and Networking · ¨ Customized forms and applications · ¨ Training of adviser staff on regulatory developments · ¨ Annual base fee, asset-based fee per fund $ 20,000 · Share family .25 bps ¨ Per fund family with four share classes in addition to the first (per month, per class) $ 500 · $1,500/month ¨ Open account fee: · o Quarterly/annual dividend funds $ 12.00 · $9.50 o Monthly dividend funds $ $10.50 o Money market funds $12.00 · Daily dividend o Additional for funds $ 12.00 · Matrix level 3 accounts $ 8.50 · with redemption fees $.25 o Additional for funds with 12b-1 fees $.25 ¨ Closed account fee (per year) $ 3.00 · $3.50 ¨ One-time set-up (manual, per account) $ $3.00 · ¨ One-time set-up (automated NSCC, per account) $ 1.50 · $1.00 ¨ Transaction fee (e.g., financial, maintenance) $ 2.00 · $1.50 ¨ Automated transactions* $ .35 $.25 *includes NSCC activity processing, AIP/SWP/auto exchanges, dividends, any required IRS withholding · ¨ Per fund (per year) $ 1,000 · $2,000 ¨ Research (per item) $2.50 ¨ Additional account set-up (per non-individual account)* $ $1.00 · ¨ Suspicious Activity Report filing (per occurrence) $ $25.00 · ¨ Escheatment filing (per state) $ $50.00 *e.g., business account, trust account, partnership account, etc. CCO Support Services(1) Annual fee per fund family $ 1,500 · ¨ Annual maintenance fee per account (may be charged to shareholders) $ $15.00 · ¨ ▇▇▇ transfer/rollover/recharacterization/RMD transfer fee (per occurrence) $ 15.00 Advanced Reporting Solutions(1) · $7.50 ¨ Annual maintenance fee* $ 5,000 · $3,500 ¨ Additional interactive user license (per license per year) $ $1,000 · ¨ Analyst named user license (per license per year) $ $2,500 *Annual maintenance fee includes initial setup costs plus one interactive user license · ¨ Telephone calls, letters/e-mails, research/lost shareholder (per occurrence) $ 3.00 · $2.75 ¨ Standard applications and forms in electronic format no charge · ¨ Customized forms as quoted · ¨ Pre-printed, machine-ready statement inserts (per item) $ .03 · $.02 ¨ Standard single-sided statement/confirm/tax form/check (per item including .pdf) · o First page $ .30 · $.25 o Each additional page $ .15 Additional fees at $175 per hour, or as quoted by project, may apply for special programming or projects to meet your servicing requirements or to create custom reports. Out-of-pocket expenses include, but are not limited to, annual year-end programming fees, copying charges, facsimile charges, inventory and record storage and reprocessing, statement paper, check stock, envelopes, tax forms, postage and direct delivery charges, tape/disk storage, travel, CPU usage, telephone and long distance charges, VPN/VNET fees, retirement plan documents, proxies and proxy services, NSCC participant billing, P.O. box rental, toll-free number, customer identity check fees, bank account service fees and any other bank charges, and expenses, including but not limited to attorney’s fees, incurred in connection with responding to and complying with SEC or other regulatory investigations, inquiries or subpoenas, excluding routine examinations of UMB in its capacity as a service provider to the funds. Money Market Exchange Vehicles(1) · Exception check writing (per set definition, per occurrence) $ 2.00 · One-time set-up fee per money market fund used $ 2,000 · Monthly base fee per money market fund used $ 650 NSCC and Fund/SERV Trading(1) Use of UMB Distribution Services, LLC’s NSCC membership (per fund, per year) · Each of first three funds in fund family $ 2,000 · Each additional fund $ 1,000 VRU Services(1) · One-time VRU set-up fee $ 3,500 · Annual VRU maintenance fee $ 2,500 · VRU charge (per call) $ .40 Internet Services(1) · Broker Browser · One-time set-up fee (standard) $ 1,500 · Inquiry no charge · Shareholder Browser · One-time set-up fee $ 7,500 · Annual maintenance fee – up to 50,000 accounts $ 7,500 · Annual maintenance fee – over 50,000 accounts $ 15,000 · Inquiry (per occurrence) $ .15 · New account set-up, one-time fee per account $ 2.50 · Transactions* and account maintenance (per occurrence) $ .50 *additional purchases, exchanges and redemptions · Web-based document mailings* · One-time set-up fee $ 4,000 · Annual maintenance fee $ 1,500 · Per shareholder, per mailing $ .15 *statements, prospectuses, financial reports, etc. Rule 22c-2 Service Fees(1) Per fund family $ 5,000 Per CUSIP (billed monthly) $ 3,000/yr.* *Subject to a minimum of $5,000 per year, per fund family The Annual Management Fee applies to UMB Fund Services’ review and reporting of exception items. Additional reports or requests for data that are outside of the exception-based reporting process are deemed special projects billed at the rate shown in this fee schedule. · One-time fee to initiate STN 22c-2, per fund family $ 2,000 · Monthly fee for STN 22c-2 services The monthly fee is based on number of CUSIPs participating at time of service initiation. Pricing will increase or decrease based on CUSIP count annually (or more frequently upon occurrence of a merger or similar event) to the appropriate tier based on number of CUSIPs at time of adjustment: · 0–15 CUSIPS with up to 750,000 stored records $ 700/mo. · 16–30 CUSIPS with up to 1.5 million stored records $ 1,000/mo. · 30+ CUSIPS with up to $2.5 million stored records $ 1,200/mo. A fee of $250 per month will be charged for each additional million records stored beyond the number included as part of the monthly fee. The above out-of-pocket expenses will increase to the extent that SunGard increases its pricing under the contract between UMB Fund Services and SunGard. In addition to the fees noted above, certain third-party fees and expenses (including NSCC charges) may be billed directly by the applicable third-party provider or passed through by UMB Fund Services..10

Optional Services. The Funds may contract with UMBFS to provide one or more of the following optional services. Additional fees apply. · ¨ UMBFS’ Internet services, including Adviser Services, RIA/Broker Services, Shareholder Services, NAV Services, Vision, Adviser Central and email services. · ¨ UMBISG VRU services (per fund group) · ¨ Shareholder “welcome” packages with initial confirmation · ¨ Access to UMBFS’ Tax and Retirement Group to answer questions and coordinate retirement plan options · ¨ Money market funds for short-term investment or exchanges · ¨ Dedicated service representatives · ¨ Weekend and holiday shareholder Shareholder services · ¨ Customized reorder form tracking · Give dealers access through NSCC’s Fund/SERV and Networking · ¨ Customized forms and applications · ¨ Training of adviser staff on regulatory developments · Annual base fee, $1,166 per fund $ 20,000 month per Class · Share classes in addition to the first ($1.50 per month, month per class) $ 500 Shareholder account · Open account fee: · Quarterly/annual dividend funds $ 12.00 · Monthly dividend funds $ 12.00 · Daily dividend funds $ 12.00 · Matrix level 3 accounts $ 8.50 · Closed account fee ($1.00 per year) $ 3.00 · One-time set-up (manual, month per account) $ 3.00 · One-time set-up (automated NSCC, per account) $ 1.50 · Transaction fee (e.g., financial, maintenance) $ 2.00 · Automated transactions* $ .35 *includes NSCC activity processing, AIP/SWP/auto exchanges, dividends, any required IRS withholding · Per fund (per year) $ 1,000 · Additional account set-up (per non-individual account)* $ 1.00 · Suspicious Activity Report filing (per occurrence) $ 25.00 · Escheatment filing (per state) $ 50.00 *e.g., business account, trust account, partnership account, etc. CCO Support Services(1) Annual fee per fund family $ 1,500 · Annual maintenance fee per account (may be charged to shareholders) $ 15.00 · ▇▇▇▇ transfer/rollover/recharacterization/RMD ▇▇▇▇▇ ▇ Shareholder account · $0.25 per month per closed Shareholder account · $500 per CUSIP one-time fee for omnibus account system monitoring setup · $0.035 per transmitted transaction record; subject to a minimum of $500 per month per CUSIP not to exceed $2,500 a month for all Funds · $150 per hour for customized programming requests (per occurrence) $ 15.00 Advanced Reporting Solutions(1includes report writing) · Annual maintenance fee* $ 5,000 · Additional interactive user license Internet service fees (if applicable): o Client remote Inquiry – None o Shareholder Remote Inquiry/Trading/Account Opening - $500 per license month per year) $ 1,000 · Analyst named user license (per license per year) $ 2,500 *Annual maintenance fee includes initial setup costs plus one interactive user license · Telephone calls, letters/e-mails, research/lost shareholder (per occurrence) $ 3.00 · Standard applications and forms in electronic format no charge · Customized forms as quoted · Pre-printed, machine-ready statement inserts (per item) $ .03 · Standard single-sided statement/confirm/tax form/check (per item including .pdf) · First page $ .30 · Each additional page $ .15 Additional fees at $175 per hour, or as quoted by project, may apply for special programming or projects to meet your servicing requirements or to create custom reports. Fund Out-of-pocket expenses include, include but are not limited to, annual year-end programming fees, : copying charges, facsimile charges, inventory and record storage and reprocessing, statement paper, check stock, envelopes, tax forms, postage and direct delivery charges, tape/disk storage, travel, CPU usage, telephone and long distance charges, VPN/VNET fees, retirement plan documents, proxies and proxy services, NSCC participant billing, P.O. box Box rental, toll-free number, customer identity check fees, bank account service fees and fees, any other bank chargescharges (DDA, and expenseswire, including but not limited to attorney’s feesACH, incurred in connection with responding to and complying with SEC or other regulatory investigationscheck/draft clearing/lock box), inquiries or subpoenas, excluding routine examinations of UMB in its capacity as a service provider to the funds. Money Market Exchange Vehicles(1) · Exception check writing (per set definition, per occurrence) $ 2.00 · One-time set-up fee per money market fund used $ 2,000 · Monthly base fee per money market fund used $ 650 NSCC and Fund/SERV Trading(1) Use of UMB Distribution Services, LLC’s NSCC membership (per fund, per year) · Each of first three funds in fund family $ 2,000 · Each additional fund $ 1,000 VRU Services(1) · One-time VRU set-up fee $ 3,500 · Annual VRU maintenance fee $ 2,500 · VRU charge (per call) $ .40 Internet Services(1) · Broker Browser · One-time set-up fee (standard) $ 1,500 · Inquiry no charge · Shareholder Browser · One-time set-up fee $ 7,500 · Annual maintenance fee – up to 50,000 accounts $ 7,500 · Annual maintenance fee – over 50,000 accounts $ 15,000 · Inquiry (per occurrence) $ .15 · New account set-up, one-time fee per account $ 2.50 · Transactions* and account maintenance (per occurrence) $ .50 *additional purchases, exchanges and redemptions · Web-based document mailings* · One-time set-up fee $ 4,000 · Annual maintenance fee $ 1,500 · Per shareholder, per mailing $ .15 *statements, prospectuses, financial reports, etc. Rule 22c-2 Service Fees(1) Per fund family $ 5,000 Per CUSIP (billed monthly) $ 3,000/yr.* *Subject to a minimum of $5,000 per year, per fund family The Annual Management Fee applies to UMB Fund Services’ review and reporting of exception items. Additional reports or requests for data that are outside of the exception-based reporting process are deemed special projects billed at the rate shown in this fee schedule. · One-time fee to initiate STN 22c-2, per fund family $ 2,000 · Monthly fee for STN 22c-2 services The monthly fee is based on number of CUSIPs participating at time of service initiation. Pricing will increase or decrease based on CUSIP count annually (or more frequently upon occurrence of a merger or similar event) to the appropriate tier based on number of CUSIPs at time of adjustment: · 0–15 CUSIPS with up to 750,000 stored records $ 700/mo. · 16–30 CUSIPS with up to 1.5 million stored records $ 1,000/mo. · 30+ CUSIPS with up to $2.5 million stored records $ 1,200/mo. A fee of $250 per month will be charged for each additional million records stored beyond the number included as part of the monthly fee. The above out-of-pocket expenses will increase to the extent that SunGard increases its pricing under the contract between UMB Fund Services and SunGard. In addition to the fees noted above, certain third-party all fees and expenses (related to Rule 22c-2 transaction monitoring, communications, document preparation and insertion, reproduction and record storage and retention expenses. · Account applications · Canceled certificates plus stock powers and supporting documents · Checks including NSCC charges) may be billed directly by check registers, reconciliation records, any adjustment records and tax withholding documentation · Indemnity bonds for replacement of lost or missing stock certificates and checks · Liquidation, redemption, withdrawal and transfer requests including stock powers, signature guarantees and any supporting documentation · Shareholder correspondence · Shareholder transaction records · Share transaction history of the Funds · All records required under Federal Securities Laws With respect to the beneficial ownership of, and transactions in, Shares in the Funds for which SEI maintains the applicable third-party provider or passed through by UMB Fund Services.Shareholder information, UMBFS shall:

Optional Services. The Funds may contract with UMBFS Transfer Agent to provide one or more of the following optional servicesservices for additional fees. Additional fees apply. · UMBFS’ § Transfer Agent’s Internet services, including Adviser Services, RIA/Broker Services, Shareholder Services, NAV Services, Vision, Adviser Central and email services. · UMBISG services § VRU services (per fund group) · § Shareholder “welcome” packages with initial confirmation · § Access to UMBFS’ Transfer Agent’s Tax and Retirement Group to answer questions and coordinate retirement plan options · Money § Arrange to make available money market funds for short-term investment or exchanges · § Dedicated service representatives · § Weekend and holiday shareholder services · § Customized reorder form tracking · § Give dealers access through NSCC’s Fund/SERV and Networking · § Customized forms forms, applications and applications · statements § Training of adviser staff on regulatory developments · EntrepreneurShares Series TrustTM Annual base fee, net asset-based fee per fund $ 20,000 · Share classes in addition CUSIP* .50 bps *subject to the first (an annual minimum of $9,000 per month, per class) $ 500 · CUSIP  Open account fee: · Quarterly/annual dividend funds $ 12.00 · Monthly dividend funds $ 12.00 · Daily dividend funds $ 12.00 · ☐ Non Matrix level 3 accounts $ 8.50 · $10.00 ☐ Matrix level 3 accounts $7.00  Closed account fee (per year) $ 3.00 · One-time set-up (manual, per account) $ 3.00 · One-time set-up (automated NSCC, per account) $ 1.50 · Transaction fee (e.g., financial, maintenance) $ 2.00 · Automated transactions* $ .35 *includes NSCC activity processing, AIP/SWP/auto exchanges, dividends, any required IRS withholding · $2.50  Per fund (per year) $ 1,000 · Additional account set-up (per non-individual account)* $ 1.00 · $2,000  Suspicious Activity Report filing (per occurrence) $ $25.00 ·  Escheatment filing (per state) $ $50.00 *e.g., business account, trust account, partnership account, etc. CCO Support Services(1) Annual fee per fund family $ 1,500 ·  Annual maintenance fee per account (may be charged to shareholders) $ $15.00 ·  ▇▇▇ transfer/rollover/recharacterization/RMD fee (per occurrence) $ $15.00 Advanced Reporting Solutions(1) · Annual maintenance fee* $ 5,000 · Additional interactive user license (per license per year) $ 1,000 · Analyst named user license (per license per year) $ 2,500 *Annual maintenance fee includes initial setup costs plus one interactive user license · $2,500  Telephone calls, letterscalls (per minute) $1.00  Letters/e-mails, research/lost shareholder (per occurrence) $ 3.00 · $2.75  Standard applications and forms in electronic format no charge ·  Customized forms as quoted ·  Pre-printed, machine-ready statement inserts (per item) $ $.03 ·  Standard single-sided statement/confirm/tax form/check (per item including .pdf) · ☐ First page $ $.30 · ☐ Each additional page $ $.15 Base fee – per occurrence, per day, per fund $500 Additional fees at $175 per hour, or as quoted by project, may apply for special programming or projects to meet your servicing requirements or to create custom reports. After the Initial Term all fees, other than basis point fees, are subject to an annual escalation equal to the increase in the Consumer Price Index–Urban Wage Earners (CPI). Such escalations shall be effective commencing one year from the effective date of each Fund and the corresponding date each year thereafter. No amendment of this fee schedule shall be required with each escalation. CPI will be determined by reference to the Consumer Price Index News Release issued by the Bureau of Labor Statistics, U.S. Department of Labor. Fees for services not contemplated by this schedule will be negotiated on a case-by-case basis. Out-of-pocket expenses include, include but are not limited to, to annual year-end programming fees, copying charges, facsimile charges, inventory and record storage and reprocessing, statement paper, check stock, envelopes, tax forms, postage and direct delivery charges, tape/disk storage, travel, CPU usage, telephone and long distance charges, VPN/VNET fees, retirement plan documents, proxies and proxy services, DTCC/NSCC participant billing, P.O. box rental, toll-free number, customer identity check fees, bank account service fees and any other bank charges, and expenses, including but not limited to attorney’s fees, incurred in connection with responding to and complying with SEC or other regulatory investigations, inquiries or subpoenas, excluding routine examinations of UMB in its capacity as a service provider to the fundsprovider. Money Market Exchange Vehicles(1) · Exception check writing (per set definition, per occurrence) $ 2.00 ·  Tier 1: Activate Mutual Fund Profile II – Advisor populates data No fee  Tier 2: Activate Mutual Fund Profile II – UMBFS supports Advisor in populating data ☐ One-time set-up fee per money market fund used $ 2,000 · Monthly base fee per money market fund used $ 650 NSCC and Fund/SERV Trading(1) Use of UMB Distribution Services, LLC’s NSCC membership (per fundfee, per year) · Each of first three funds in fund family $ 2,000 · Each additional fund $ $1,000 VRU Services(1) · ☐ Monthly maintenance fee – up to 25 CUSIPs $250 ☐ Monthly maintenance fee – more than 25 CUSIPs $500 *Funds using Mutual Fund Profile II services will also pay out-of-pocket fees charged by DTCC of $850/mo. for up to 25 CUSIPs or $2,000/mo. for 26+ CUSIPs.  One-time VRU set-up fee $ 3,500 · $1,500  Annual VRU maintenance fee $ 2,500 · $1,500  VRU charge (per call) $ .40 Internet Services(1) ·  Broker Browser · ☐ One-time set-up fee (standard) $ $1,500 · ☐ Inquiry no charge · Shareholder Browser ·  Online Access and Web-based document mailing – per fund family ☐ One-time set-up fee $ 7,500 · $10,000 ☐ Annual maintenance fee – up to 50,000 accounts $ 7,500 · $9,000 ☐ Annual maintenance fee – over 50,000 accounts $ 15,000 · Inquiry (per occurrence) $ .15 · New account set-up, one-time fee per account $ 2.50 · Transactions* and account maintenance (per occurrence) $ .50 *additional purchases, exchanges and redemptions · Web-based document mailings* · One-time set-up fee $ 4,000 · Annual maintenance fee $ 1,500 · $16,500 ☐ Per shareholder, per mailing mailing* $ .15 *statements, prospectuses, financial reports, etc. Rule 22c-2 Service Fees(1) Annual FATCA services fee $2,500 Per fund family $ 5,000 $2,000 Per CUSIP (billed monthly) $ $3,000/yr.* *Subject to a minimum of $5,000 per year, per fund family The Annual Management Fee applies to UMB Fund Services’ review and reporting of exception items. Additional reports or requests for data that are outside of the exception-based reporting process are deemed special projects billed at the rate shown in this fee schedule. ·  One-time fee to initiate STN 22c-2, per fund family $ $2,000 ·  Monthly fee for STN 22c-2 services The monthly fee is based on number of CUSIPs participating at time of service initiation. Pricing will increase or decrease based on CUSIP count annually (or more frequently upon occurrence of a merger or similar event) to the appropriate tier based on number of CUSIPs at time of adjustment: · ☐ 0–15 CUSIPS with up to 750,000 900,000 stored records $ 700$560/mo. · ☐ 16–30 CUSIPS with up to 1.5 1.8 million stored records $ 1,000$800/mo. · 30☐ 31+ CUSIPS with up to $2.5 million stored records $ 1,200$960/mo. A fee of $250 200 per month will be charged for each additional 1.2 million records stored beyond the number included as part of the monthly fee. The above out-of-pocket expenses will increase to the extent that SunGard FIS increases its pricing under the contract between UMB Fund Services and SunGardFIS. In addition to the fees noted above, certain third-party fees and expenses (including NSCC charges) may be billed directly by the applicable third-party provider or passed through by UMB Fund Services.. EntrepreneurShares Series TrustTM

Optional Services. The Funds may contract with UMBFS Transfer Agent to provide one or more of the following optional servicesservices for additional fees. Additional fees apply. · UMBFS’ ◾ Transfer Agent’s Internet services, including Adviser Services, RIA/Broker Services, Shareholder Services, NAV Services, Vision, Adviser Central and email services. · UMBISG services ◾ VRU services (per fund group) · ◾ Shareholder “welcome” packages with initial confirmation · ◾ Access to UMBFS’ Transfer Agent’s Tax and Retirement Group to answer questions and coordinate retirement plan options · Money ◾ Arrange to make available money market funds for short-term investment or exchanges · ◾ Dedicated service representatives · ◾ Weekend and holiday shareholder services · ◾ Customized reorder form tracking · ◾ Give dealers access through NSCC’s Fund/SERV and Networking · ◾ Customized forms forms, applications and applications · statements ◾ Training of adviser staff on regulatory developments · Annual base fee, net asset-based fee per fund $ 20,000 · Share classes in addition CUSIP* .5 bps *subject to an aggregate annual minimum of $90,000 for the first (per month, per class) $ 500 · Funds referenced on Schedule A” ■ Open account fee: · Quarterly/annual dividend funds $ 12.00 · Monthly dividend funds $ 12.00 · Daily dividend funds $ 12.00 · q Non Matrix level 3 accounts $ 8.50 · $10.00 q Matrix level 3 accounts $7.00 ■ Closed account fee (per year) $ 3.00 · One-time set-up (manual, per account) $ 3.00 · One-time set-up (automated NSCC, per account) $ 1.50 · Transaction fee (e.g., financial, maintenance) $ 2.00 · Automated transactions* $ .35 *includes NSCC activity processing, AIP/SWP/auto exchanges, dividends, any required IRS withholding · $2.50 ■ Per fund (per year) $ 1,000 · Additional account set-up (per non-individual account)* $ 1.00 · $2,000 ■ Suspicious Activity Report filing (per occurrence) $ $25.00 · ■ Escheatment filing (per state) $ $50.00 *e.g., business account, trust account, partnership account, etc. CCO Support Services(1) Annual fee per fund family $ 1,500 · ■ Annual maintenance fee per account (may be charged to shareholders) $ $15.00 · ■ ▇▇▇ transfer/rollover/recharacterization/RMD fee (per occurrence) $ $15.00 Advanced Reporting Solutions(1) · Annual maintenance fee* $ 5,000 · Additional interactive user license (per license per year) $ 1,000 · Analyst named user license (per license per year) $ 2,500 *Annual maintenance fee includes initial setup costs plus one interactive user license · $2,500 ■ Telephone calls, letterscalls (per minute) $1.00 ■ Letters/e-mails, research/lost shareholder (per occurrence) $ 3.00 · $2.75 ■ Standard applications and forms in electronic format no charge · ■ Customized forms as quoted · ■ Pre-printed, machine-ready statement inserts (per item) $ $.03 · ■ Standard single-sided statement/confirm/tax form/check (per item including .pdf) · q First page $ $.30 · q Each additional page $ .15 Additional fees at $175 per hour, or as quoted by project, may apply for special programming or projects to meet your servicing requirements or to create custom reports. Out-of-pocket expenses include, but are not limited to, annual year-end programming fees, copying charges, facsimile charges, inventory and record storage and reprocessing, statement paper, check stock, envelopes, tax forms, postage and direct delivery charges, tape/disk storage, travel, CPU usage, telephone and long distance charges, VPN/VNET fees, retirement plan documents, proxies and proxy services, NSCC participant billing, P.O. box rental, toll-free number, customer identity check fees, bank account service fees and any other bank charges, and expenses, including but not limited to attorney’s fees, incurred in connection with responding to and complying with SEC or other regulatory investigations, inquiries or subpoenas, excluding routine examinations of UMB in its capacity as a service provider to the funds. Money Market Exchange Vehicles(1) · Exception check writing (per set definition, per occurrence) $ 2.00 · One-time set-up fee per money market fund used $ 2,000 · Monthly base fee per money market fund used $ 650 NSCC and Fund/SERV Trading(1) Use of UMB Distribution Services, LLC’s NSCC membership (per fund, per year) · Each of first three funds in fund family $ 2,000 · Each additional fund $ 1,000 VRU Services(1) · One-time VRU set-up fee $ 3,500 · Annual VRU maintenance fee $ 2,500 · VRU charge (per call) $ .40 Internet Services(1) · Broker Browser · One-time set-up fee (standard) $ 1,500 · Inquiry no charge · Shareholder Browser · One-time set-up fee $ 7,500 · Annual maintenance fee – up to 50,000 accounts $ 7,500 · Annual maintenance fee – over 50,000 accounts $ 15,000 · Inquiry (per occurrence) $ .15 · New account set-up, one-time fee per account $ 2.50 · Transactions* and account maintenance (per occurrence) $ .50 *additional purchases, exchanges and redemptions · Web-based document mailings* · One-time set-up fee $ 4,000 · Annual maintenance fee $ 1,500 · Per shareholder, per mailing $ .15 *statements, prospectuses, financial reports, etc. Rule 22c-2 Service Fees(1) Per fund family $ 5,000 Per CUSIP (billed monthly) $ 3,000/yr.* *Subject to a minimum of $5,000 per year, per fund family The Annual Management Fee applies to UMB Fund Services’ review and reporting of exception items. Additional reports or requests for data that are outside of the exception-based reporting process are deemed special projects billed at the rate shown in this fee schedule. · One-time fee to initiate STN 22c-2, per fund family $ 2,000 · Monthly fee for STN 22c-2 services The monthly fee is based on number of CUSIPs participating at time of service initiation. Pricing will increase or decrease based on CUSIP count annually (or more frequently upon occurrence of a merger or similar event) to the appropriate tier based on number of CUSIPs at time of adjustment: · 0–15 CUSIPS with up to 750,000 stored records $ 700/mo. · 16–30 CUSIPS with up to 1.5 million stored records $ 1,000/mo. · 30+ CUSIPS with up to $2.5 million stored records $ 1,200/mo. A fee of $250 per month will be charged for each additional million records stored beyond the number included as part of the monthly fee. The above out-of-pocket expenses will increase to the extent that SunGard increases its pricing under the contract between UMB Fund Services and SunGard. In addition to the fees noted above, certain third-party fees and expenses (including NSCC charges) may be billed directly by the applicable third-party provider or passed through by UMB Fund Services..15

Optional Services. The Funds may contract with UMBFS to provide one or more of the following optional services. Additional fees apply. · - UMBFS’ ' Internet services, including Adviser Services, RIA/Broker Services, Shareholder Services, NAV Services, Vision, Adviser Central and email services. · - UMBISG VRU services (per fund group) · - Shareholder “"welcome” " packages with initial confirmation · - Access to UMBFS’ ' Tax and Retirement Group to answer questions and coordinate retirement plan options · - Money market funds for short-term investment or exchanges · - Dedicated service representatives · - Weekend and holiday shareholder services · - Customized reorder form tracking · - Give dealers access through NSCC’s 's Fund/SERV and Networking · - Customized forms and applications · - Training of adviser staff on regulatory developments · SCHEDULE C TO THE TRANSFER AGENT AGREEMENT BY AND BETWEEN ▇▇▇▇▇▇▇ CAPITAL MUTUAL FUNDS AND UMB FUND SERVICES, INC. FEES BASE FEES - Annual base fee, asset-based fee per fund $ 20,000 · .5 bp - Share classes in addition to the first (per month, month per class) $ 500 · 750 MINIMUM ANNUAL FEE (PER FUND) - Year 1 discount: lower Minimum from $28,000 to $21,000 $ 21,000 - Year 2 discount: lower Minimum from $28,000 to $25,200 $ 25,200 - Thereafter $ 28,000 ACCOUNT FEES - Open account fee: · - Quarterly/annual dividend funds $ 12.00 · 9.50 - Monthly dividend funds $ 12.00 · Daily dividend 10.50 - Money market funds $ 12.00 · Matrix level 3 accounts - Additional for funds with redemption fees $ 8.50 · .25 - Additional for funds with 12b-1 fees $ .25 - Closed account fee (per year) $ 3.00 · 3.50 - One-time set-up (manual, per account) $ 3.00 · - One-time set-up (automated NSCC, per account) $ 1.50 · 1.00 - Transaction fee (e.g., financial, maintenance) $ 2.00 · 1.50 - Automated transactions* $ .35 *.25 * includes NSCC activity processing, AIP/SWP/auto exchanges, dividends, any required IRS withholding · USA PATRIOT ACT & ESCHEATMENT FEES - Per fund (per year) $ 1,000 · 2,000 - Research (per item) $ 2.50 - Additional account set-up (per non-individual account)* $ 1.00 · - Suspicious Activity Report filing (per occurrence) $ 25.00 · - Escheatment filing (per state) $ 50.00 ** e.g., business account, trust account, partnership account, etc. CCO Support Services(1RETIREMENT ACCOUNTS (▇▇▇/▇▇▇▇/OTHERS) Annual fee per fund family $ 1,500 · - Annual maintenance fee per account (may be charged to shareholders) $ 15.00 · - ▇▇▇ transfer/rollover/recharacterization/RMD transfer fee (per occurrence) $ 15.00 Advanced Reporting Solutions(1) · 7.50 ADVANCED REPORTING SOLUTIONS - Annual maintenance fee* $ 5,000 · 3,500 - Additional interactive user license (per license per year) $ 1,000 · - Analyst named user license (per license per year) $ 2,500 *Annual * annual maintenance fee includes initial setup costs plus one interactive user license · SHAREHOLDER SERVICES - Telephone calls, letters/e-mails, research/lost shareholder (per occurrence) $ 3.00 · 2.75 DOCUMENT SERVICES - Standard applications and forms in electronic format no charge · - Customized forms as quoted · - Pre-printed, machine-ready statement inserts (per item) $ .03 · .02 - Standard single-sided statement/confirm/tax form/check (per item including .pdf) · - First page $ .30 · .25 - Each additional page $ .15 Additional fees at $175 per hour, or as quoted by project, may apply for special programming or projects to meet your servicing requirements or to create custom reports. Out-of-pocket expenses include, but are not limited to, annual year-end programming fees, copying charges, facsimile charges, inventory and record storage and reprocessing, statement paper, check stock, envelopes, tax forms, postage and direct delivery charges, tape/disk storage, travel, CPU usage, telephone and long distance charges, VPN/VNET fees, retirement plan documents, proxies and proxy services, NSCC participant billing, P.O. box rental, toll-free number, customer identity check fees, bank account service fees and any other bank charges, and expenses, including but not limited to attorney’s fees, incurred in connection with responding to and complying with SEC or other regulatory investigations, inquiries or subpoenas, excluding routine examinations of UMB in its capacity as a service provider to the funds. Money Market Exchange Vehicles(1) · Exception check writing (per set definition, per occurrence) $ 2.00 · One-time set-up fee per money market fund used $ 2,000 · Monthly base fee per money market fund used $ 650 NSCC and Fund/SERV Trading(1) Use of UMB Distribution Services, LLC’s NSCC membership (per fund, per year) · Each of first three funds in fund family $ 2,000 · Each additional fund $ 1,000 VRU Services(1) · One-time VRU set-up fee $ 3,500 · Annual VRU maintenance fee $ 2,500 · VRU charge (per call) $ .40 Internet Services(1) · Broker Browser · One-time set-up fee (standard) $ 1,500 · Inquiry no charge · Shareholder Browser · One-time set-up fee $ 7,500 · Annual maintenance fee – up to 50,000 accounts $ 7,500 · Annual maintenance fee – over 50,000 accounts $ 15,000 · Inquiry (per occurrence) $ .15 · New account set-up, one-time fee per account $ 2.50 · Transactions* and account maintenance (per occurrence) $ .50 *additional purchases, exchanges and redemptions · Web-based document mailings* · One-time set-up fee $ 4,000 · Annual maintenance fee $ 1,500 · Per shareholder, per mailing $ .15 *statements, prospectuses, financial reports, etc. Rule 22c-2 Service Fees(1) Per fund family $ 5,000 Per CUSIP (billed monthly) $ 3,000/yr.* *Subject to a minimum of $5,000 per year, per fund family The Annual Management Fee applies to UMB Fund Services’ review and reporting of exception items. Additional reports or requests for data that are outside of the exception-based reporting process are deemed special projects billed at the rate shown in this fee schedule. · One-time fee to initiate STN 22c-2, per fund family $ 2,000 · Monthly fee for STN 22c-2 services The monthly fee is based on number of CUSIPs participating at time of service initiation. Pricing will increase or decrease based on CUSIP count annually (or more frequently upon occurrence of a merger or similar event) to the appropriate tier based on number of CUSIPs at time of adjustment: · 0–15 CUSIPS with up to 750,000 stored records $ 700/mo. · 16–30 CUSIPS with up to 1.5 million stored records $ 1,000/mo. · 30+ CUSIPS with up to $2.5 million stored records $ 1,200/mo. A fee of $250 per month will be charged for each additional million records stored beyond the number included as part of the monthly fee. The above out-of-pocket expenses will increase to the extent that SunGard increases its pricing under the contract between UMB Fund Services and SunGard. In addition to the fees noted above, certain third-party fees and expenses (including NSCC charges) may be billed directly by the applicable third-party provider or passed through by UMB Fund Services..10

Optional Services. The Funds may contract with UMBFS Transfer Agent to provide one or more of the following optional servicesservices for additional fees. Additional fees apply. · UMBFS’ § Transfer Agent’s Internet services, including Adviser Services, RIA/Broker Services, Shareholder Services, NAV Services, Vision, Adviser Central and email services. · UMBISG services § VRU services (per fund group) · § Shareholder “welcome” packages with initial confirmation · § Access to UMBFS’ Transfer Agent’s Tax and Retirement Group to answer questions and coordinate retirement plan options · Money § Arrange to make available money market funds for short-term investment or exchanges · § Dedicated service representatives · § Weekend and holiday shareholder services · § Customized reorder form tracking · § Give dealers access through NSCC’s Fund/SERV and Networking · § Customized forms forms, applications and applications · Training statements Annual net asset-based fee per fund 0.5 basis points n Subject to an annual minimum for funds up to $50 million in assets ☐ No-load fund $18,000 ☐ Load or daily accrual fund $22,000 n Subject to an annual minimum for funds over $50 million in assets ☐ No-load fund $24,000 ☐ Load or daily accrual fund $28,000 * The higher of adviser staff on regulatory developments · Annual either account fees plus basis points or minimums will be used to determine the base fee, . n Open account fee (per fund $ 20,000 · Share classes in year) ☐ Quarterly/annual dividend funds $14.00 ☐ Monthly dividend funds $15.00 ☐ Daily dividend funds $19.00 ☐ Matrix level 3 accounts $12.00 n Closed account fee (per year) $2.50 In addition to the first (per month, per class) $ 500 · Open account fee: · Quarterly/annual dividend funds $ 12.00 · Monthly dividend funds $ 12.00 · Daily dividend funds $ 12.00 · Matrix level 3 accounts $ 8.50 · Closed account fee (per year) $ 3.00 · One-time set-up (manual, per account) $ 3.00 · One-time set-up (automated NSCC, per account) $ 1.50 · Transaction fee (e.g., financial, maintenance) $ 2.00 · Automated transactions* $ .35 *includes NSCC activity processing, AIP/SWP/auto exchanges, dividends, any required IRS withholding · $1,000 n Per fund (per year) $ $1,000 · n Additional account set-up (per non-individual account)* $ $1.00 · n Suspicious Activity Report filing (per occurrence) $ $25.00 · n Escheatment filing (per state) $ $50.00 ** e.g., business account, trust account, partnership account, etc. CCO Support Services(1) Annual fee per fund family $ 1,500 · n Annual maintenance fee per account (may be charged to shareholders) $ $15.00 · ▇n I▇▇ transfer/rollover/recharacterization/RMD fee (per occurrence) $ $15.00 Advanced Reporting Solutions(1) · Annual maintenance fee* $ 5,000 · Additional interactive user license (per license per year) $ 1,000 · Analyst named user license (per license per year) $ 2,500 *Annual maintenance fee includes initial setup costs plus one interactive user license · Telephone calls, letters/e-mails, research/lost shareholder (per occurrence) $ 3.00 · n Standard applications and forms in electronic format no charge · Included n Customized forms as quoted · Pre-printed, machine-ready statement inserts (per item) $ .03 · Standard single-sided statement/confirm/tax form/check (per item including .pdf) · First page $ .30 · Each additional page $ .15 Included Annual maintenance fee* $2,500 Additional fees at $175 per hour, or as quoted by project, may apply for special programming or projects to meet your servicing requirements or to create custom reports. Conversion Costs TBD Out-of-pocket expenses include, include but are not limited to, to annual year-end programming fees, copying charges, facsimile charges, inventory and record storage and reprocessing, statement paper, check stock, envelopes, tax forms, postage and direct delivery charges, tape/disk storage, travel, CPU usage, telephone and long distance charges, VPN/VNET fees, retirement plan documents, proxies and proxy services, NSCC participant billing, P.O. box rental, toll-free number, customer identity check fees, bank account service fees and any other bank charges, and expenses, including but not limited to attorney’s fees, incurred in connection with responding to and complying with SEC or other regulatory investigations, inquiries or subpoenas, excluding routine examinations of UMB Transfer Agent in its capacity as a service provider to the funds. Money Market Exchange Vehicles(1) · Exception check writing (per set definition, per occurrence) $ 2.00 · One-time set-up fee per money market fund used $ 2,000 · Monthly base fee per money market fund used $ 650 NSCC and Fund/SERV Trading(1) Use of UMB Distribution Services, LLC’s NSCC membership (per fund, per year) · Each of first three funds in fund family $ 2,000 · Each additional fund $ 1,000 VRU Services(1) · One-time VRU set-up fee $ 3,500 · Annual VRU maintenance fee $ 2,500 · VRU charge (per call) $ .40 Internet Services(1) · Broker Browser · One-time set-up fee (standard) $ 1,500 · Inquiry no charge · Shareholder Browser · One-time set-up fee $ 7,500 · Annual maintenance fee – up to 50,000 accounts $ 7,500 · Annual maintenance fee – over 50,000 accounts $ 15,000 · Inquiry (per occurrence) $ .15 · New account set-up, one-time fee per account $ 2.50 · Transactions* and account maintenance (per occurrence) $ .50 *additional purchases, exchanges and redemptions · Web-based document mailings* · One-time set-up fee $ 4,000 · Annual maintenance fee $ 1,500 · Per shareholder, per mailing $ .15 *statements, prospectuses, financial reports, etc. Rule 22c-2 Service Fees(1) Per fund family $ 5,000 Per CUSIP (billed monthly) $ 3,000/yr.* *Subject to a minimum of $5,000 per year, per fund family The Annual Management Fee applies to UMB Fund Services’ review and reporting of exception items. Additional reports or requests for data that are outside of the exception-based reporting process are deemed special projects billed at the rate shown in this fee schedule. · One-time fee to initiate STN 22c-2, per fund family $ 2,000 · Monthly fee for STN 22c-2 services The monthly fee is based on number of CUSIPs participating at time of service initiation. Pricing will increase or decrease based on CUSIP count annually (or more frequently upon occurrence of a merger or similar event) to the appropriate tier based on number of CUSIPs at time of adjustment: · 0–15 CUSIPS with up to 750,000 stored records $ 700/mo. · 16–30 CUSIPS with up to 1.5 million stored records $ 1,000/mo. · 30+ CUSIPS with up to $2.5 million stored records $ 1,200/mo. A fee of $250 per month will be charged for each additional million records stored beyond the number included as part of the monthly fee. The above out-of-pocket expenses will increase to the extent that SunGard increases its pricing under the contract between UMB Fund Services and SunGard. In addition to the fees noted above, certain third-party fees and expenses (including NSCC charges) may be billed directly by the applicable third-party provider or passed through by UMB Fund Services.