Company: ETY
Filing Date: 2025-02-19
Form Type: POS EX
Source: 0000940394-25-000230
Chunk: 5

Company: Eaton Vance Tax-Managed Diversified Equity Income Fund
Filing Date: 2025-02-19
Form: POS EX
Chunk 5
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                                                  |     | Number of Record Holders |
| Common Shares of Beneficial interest, par value $0.01 per share |     |                   74,547 |

| ITEM 30. | INDEMNIFICATION |

The Registrant's Amended and Restated By-Laws and the Form of Distribution
Agreement contain provisions limiting the liability, and providing for indemnification, of the Trustees and officers under certain circumstances.

Registrant's Trustees and officers are insured under a standard investment
company errors and omissions insurance policy covering loss incurred by reason of negligent errors and omissions committed in their official
capacities as such. Insofar as indemnification for liabilities arising under the Securities Act of 1933, as amended (the “Securities
Act”), may be permitted to directors, officers and controlling persons of the Registrant pursuant to the provisions described in
this Item 30, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission (the “Commission”)
such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable. In the event that a claim
for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer
or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer
or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

| C-4 |

| ITEM 31. | BUSINESS AND OTHER CONNECTIONS OF INVESTMENT ADVISER |

Reference is made to: (i) the information set forth under the caption
“Investment Advisory and Other Services” in the Statement of Additional Information; (ii) the Morgan Stanley Form 10-K filed
under the Securities Exchange Act of 1934, as amended (the “1934 Act”) (File No. 001-11758); the most recent Eaton Vance Corp.
Form 10-K filed under the 1934 Act (File No. 001-8100); and (iii) the Form ADV of Eaton Vance Management (File No. 801-15930) filed with
the Commission under the