AMENDMENT TO SERVICE AGREEMENT

AMENDMENT TO SERVICE AGREEMENT

AMENDMENT made as of this 6th day of December 2011 to the Service Agreement dated July 1, 2009, by and between the trusts listed in Appendix A, on behalf of themselves and each of their funds, ▇▇▇▇ ▇▇▇▇▇▇▇ Investment Management Services, LLC and ▇▇▇▇ ▇▇▇▇▇▇▇ Advisers, LLC (the “Agreement”). In consideration of the mutual covenants contained herein, the parties agree as follows:

1. CHANGES IN APPENDIX A

     Appendix A of the Agreement is hereby amended, in accordance with Section 6 of the Agreement, to add the following series, as shown in Appendix A hereto:

     ▇▇▇▇ ▇▇▇▇▇▇▇ Strategic Growth Fund

     Appendix A of the Agreement is hereby amended, in accordance with Section 6 of the Agreement, to delete the following series, as shown in Appendix A hereto:

▇▇▇▇ ▇▇▇▇▇▇▇ Classic Value Mega Cap Fund
▇▇▇▇ ▇▇▇▇▇▇▇ U.S. Core Fund

2. EFFECTIVE DATE

     This Amendment shall become effective as of the date first mentioned above.

3. DEFINED TERMS

     Unless otherwise defined herein, capitalized terms used herein have the meanings specified in or pursuant to the Agreement.

4. OTHER TERMS OF THE AGREEMENT

     Except as specifically amended hereby, all of the terms and conditions of the Agreement shall continue to be in full force and effect and shall be binding upon the parties in accordance with their respective terms.

     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed under seal by their duly authorized officers as of the date first mentioned above.

▇▇▇▇ ▇▇▇▇▇▇▇ INVESTMENT MANAGEMENT SERVICES, LLC
By:				/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇
		Name:		▇▇▇▇▇▇▇ ▇. ▇▇▇▇
		Title:		Chief Financial Officer
▇▇▇▇ ▇▇▇▇▇▇▇ ADVISERS, LLC
By:				/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇
		Name:		▇▇▇▇▇▇▇ ▇. ▇▇▇▇
		Title:		Chief Financial Officer
By all the Trusts listed in Appendix A
By:				/s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
		Name:		▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
		Title:		President and Chief Executive Officer

APPENDIX A

▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ Trust
▇▇▇▇ ▇▇▇▇▇▇▇ Government Income Fund
▇▇▇▇ ▇▇▇▇▇▇▇ High Yield Fund
▇▇▇▇ ▇▇▇▇▇▇▇ Investment Grade Bond Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Current Interest
▇▇▇▇ ▇▇▇▇▇▇▇ Money Market Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Funds III
▇▇▇▇ ▇▇▇▇▇▇▇ Core High Yield Fund
▇▇▇▇ ▇▇▇▇▇▇▇ Disciplined Value Fund
▇▇▇▇ ▇▇▇▇▇▇▇ Disciplined Value Mid Cap Fund
▇▇▇▇ ▇▇▇▇▇▇▇ Global Shareholder Yield Fund
▇▇▇▇ ▇▇▇▇▇▇▇ International Allocation Portfolio
▇▇▇▇ ▇▇▇▇▇▇▇ International Core Fund
▇▇▇▇ ▇▇▇▇▇▇▇ International Growth Fund
▇▇▇▇ ▇▇▇▇▇▇▇ International Value Equity Fund
▇▇▇▇ ▇▇▇▇▇▇▇ Leveraged Companies Fund
▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Growth Fund
▇▇▇▇ ▇▇▇▇▇▇▇ Small Cap Opportunities Fund
▇▇▇▇ ▇▇▇▇▇▇▇ Small Company Fund
▇▇▇▇ ▇▇▇▇▇▇▇ Strategic Growth Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Hedged Equity & Income Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Income Securities Trust

▇▇▇▇ ▇▇▇▇▇▇▇ Investment Trust
▇▇▇▇ ▇▇▇▇▇▇▇ Balanced Fund
▇▇▇▇ ▇▇▇▇▇▇▇ Global Opportunities Fund
▇▇▇▇ ▇▇▇▇▇▇▇ Small Cap Intrinsic Value Fund
▇▇▇▇ ▇▇▇▇▇▇▇ Sovereign Investors Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Investment Trust II
▇▇▇▇ ▇▇▇▇▇▇▇ Financial Industries Fund
▇▇▇▇ ▇▇▇▇▇▇▇ Regional Bank Fund
▇▇▇▇ ▇▇▇▇▇▇▇ Small Cap Equity Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Investors Trust

▇▇▇▇ ▇▇▇▇▇▇▇ Municipal Securities Trust
▇▇▇▇ ▇▇▇▇▇▇▇ High Yield Municipal Bond Fund
▇▇▇▇ ▇▇▇▇▇▇▇ Tax-Free Bond Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Preferred Income Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Preferred Income Fund II

▇▇▇▇ ▇▇▇▇▇▇▇ Preferred Income Fund III

▇▇▇▇ ▇▇▇▇▇▇▇ Series Trust
▇▇▇▇ ▇▇▇▇▇▇▇ Mid Cap Equity Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Sovereign Bond
▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Strategic Series
▇▇▇▇ ▇▇▇▇▇▇▇ Strategic Income Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Tax-Advantaged Dividend Income Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Tax-Advantaged Global Shareholder Yield Fund

▇▇▇▇ ▇▇▇▇▇▇▇ Tax-Exempt Series Fund
▇▇▇▇ ▇▇▇▇▇▇▇ Massachusetts Tax-Free Income Fund
▇▇▇▇ ▇▇▇▇▇▇▇ New York Tax-Free Income Fund