LEGG MASON PARTNERS INCOME FUNDS Amendment No. 12 to First Amended and Restated Master Trust Agreement
▇▇▇▇ ▇▇▇▇▇ PARTNERS INCOME FUNDS
Amendment No. 12 to
First Amended and Restated Master Trust Agreement
WHEREAS, Article VII, Section 7.3 of the First Amended and Restated Master Trust Agreement (together with any amendments thereto and designations thereunder, the “Declaration of Trust”) of ▇▇▇▇ ▇▇▇▇▇ Partners Income Funds (the “Trust”), a Massachusetts business trust, provides that the Declaration of Trust may be amended ay any time, so long as such amendment does not adversely affect the rights of any shareholder and so long as such amendment is not in contravention of applicable law, including the Investment Company Act of 1940, as amended, by an instrument in writing signed by a majority of the Trustees;
WHEREAS, Article IV, Section 4.1 of the Declaration of Trust provides that the Trustees may establish and designate Sub-Trusts of the Trust and classes thereof;
WHEREAS, the Trustees determined that it was in the best interests of holders of Salomon Brothers Class A, Class B, Class C, Class O and Class Y shares (the “Salomon Brothers Classes”) of the Sub-Trusts of the Trust that, as of April 7, 2006, are designated as “▇▇▇▇ ▇▇▇▇▇ Partners Capital and Income Fund” and “▇▇▇▇ ▇▇▇▇▇ Partners Convertible Fund” (each, a “Fund”) to convert automatically into the class of shares of the applicable Fund that has been designated as “▇▇▇▇▇ ▇▇▇▇▇▇ Class A shares”;
WHEREAS, the above-referenced conversion occurred on April 21, 2006;
WHEREAS, there are no longer any outstanding shares of the Salomon Brothers Classes of shares of the Funds; and
WHEREAS, the Trustee determined to rename certain remaining classes of shares of certain Sub-Trusts;
NOW, THEREFORE, effective as of the date of filing of this Amendment, the first paragraph of Article IV, Section 4.2 of the Declaration of Trust is hereby amended to read, in pertinent part, as follows:
“Section 4.2 Establishment and Designation of Sub-Trusts. Without limiting the authority of the Trustees set forth in Section 4.1 to establish and designate any further Sub-Trusts and classes, the Trustees hereby establish and designate the following Sub-Trusts and classes thereof: “▇▇▇▇ ▇▇▇▇▇ Partners Capital and Income Fund,” “▇▇▇▇ ▇▇▇▇▇ Partners Convertible Fund” and “▇▇▇▇ ▇▇▇▇▇ Partners Dividend and Income Fund” which shall consist of five classes of shares designated as Class A, Class B, Class C, Class O and Class Y shares; “▇▇▇▇ ▇▇▇▇▇ Partners Diversified Strategic Income Fund,” “▇▇▇▇ ▇▇▇▇▇ Partners High Income Fund,” “▇▇▇▇ ▇▇▇▇▇ Partners Municipal High Income Fund” and “▇▇▇▇ ▇▇▇▇▇ Partners Total Return Bond Fund” which shall consist of four classes of shares designated as Class A, Class B, Class C and Class Y shares; and “▇▇▇▇ ▇▇▇▇▇ Partners Exchange Reserve Fund” which shall consist of two classes of shares designated as Class B and Class C shares. The Shares of such Sub-Trusts and classes thereof and any shares of any further Sub-Trusts or classes that may from time to time be established and designated by the Trustees shall (unless the Trustees otherwise determine with respect to some further Sub-Trust or class at the time of establishing and designating the same) have the following relative rights and preferences:”
This Amendment shall be effective on April 21, 2006 at 5:00 p.m. EDT.
[signature page to follow]
IN WITNESS WHEREOF, the undersigned, being at least a majority of the Trustees of the Trust, have executed this Amendment as of the 20th day of April 2006.
| /S/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇
|
/S/ ▇▇▇▇ ▇. ▇▇▇▇▇▇
| |
| ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇, as Trustee and not individually |
▇▇▇▇ ▇. ▇▇▇▇▇▇, as Trustee and not individually | |
| /S/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
|
/S/ R. ▇▇▇ ▇▇▇▇▇▇
| |
| ▇▇▇▇▇▇ ▇. ▇▇▇▇▇, as Trustee and not individually |
R. ▇▇▇ ▇▇▇▇▇▇, as Trustee and not individually | |
| /S/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, ▇▇.
|
/S/ ▇▇▇▇ ▇▇▇▇▇▇
| |
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, ▇▇., as Trustee and not individually |
▇▇▇▇ ▇▇▇▇▇▇, as Trustee and not individually | |
| /S/ ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
|
/S/ ▇▇▇▇ ▇. ▇▇▇▇▇▇
| |
| ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇, as Trustee and not individually |
▇▇▇▇ ▇. ▇▇▇▇▇▇, as Trustee and not individually | |