Company: PIM
Filing Date: 2025-12-01
Form Type: N-CSR
Source: 0001133228-25-012988
Chunk: 228

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-12-01
Form: N-CSR
Chunk 228
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 cast or a majority of shares outstanding of the company in order to be (re) elected.                       |

| Ø | Putnam will review on a case-by-case basis, shareholder proposals requesting that the board adopt a policy whereby,                          
 in the event of a significant restatement of financial results or significant extraordinary write-off, the board will recoup, to the fullest 
 extent practicable, for the benefit of the company, all performance-based bonuses or awards that were made to senior executives based        
 on having met or exceeded specific performance targets to the extent that the specified                                                      
 performance targets were not met.                                                                                                            |

| Ø | Putnam will vote for shareholder proposals urging the board to seek shareholder approval of any future supplemental                      
 executive retirement plan (“SERP”), or individual retirement arrangement, for senior executives that provides credit for additional      
 years of service not actually worked, preferential benefit formulas not provided under the company’s tax-qualified retirement plans,     
 accelerated vesting of retirement benefits or retirement perquisites and fringe benefits that are not generally offered to other company 
 employees. (Implementation of this policy shall not breach any existing employment agreement or vested benefit.)                         |

| Ø | Putnam will vote for shareholder proposals requiring companies to report on their executive retirement benefits. (Deferred 
 compensation, split-dollar life insurance, SERPs and pension benefits)                                                     |

| Ø | Putnam will vote for shareholder proposals requesting that a company establish a pay-for-superior-performance standard                    
 whereby the company discloses defined financial and/or stock price performance criteria (along with the detailed list of comparative peer 
 group) to allow shareholders to sufficiently determine the pay and performance correlation established in the company’s performance-based 
 equity program. In addition, no multi-year award should be paid out unless the company’s performance exceeds, during the current          
 CEO’s tenure (three or more years), its peer median or mean performance on selected financial and stock price performance criteria.       |

| Ø | Putnam will vote for shareholder proposals urging the board to disclose in a separate report to shareholders, the Company’s             
 relationships with its executive compensation consultants or firms. Specifically, the report should identify the entity that retained   
 each consultant (the company, the board or the compensation committee) and the types of services provided by the consultant in the past 
 five years (non-compensation-related services to the company or to senior management and a list of all public company clients where the 
 Company’s executives serve as a director.)                                                                                              |

| Ø | Putnam will vote for shareholder proposals requiring companies to