Company: PIM
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000928816-25-000374
Chunk: 41

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 41
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 candidate’s ability, judgment and expertise, (vii) an assessment of the perceived needs of the Board and its
committees at that point in time, and (viii) overall Board composition. The

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Committee generally believes that the Board benefits from diversity of background,
experience, and views among its members, and considers this as a factor in evaluating the composition of the Board, but has not adopted
any specific policy in this regard. In connection with this evaluation, the Committee will determine whether to interview prospective
nominees, and, if warranted, one or more members of the Committee, and other Trustees and representatives of the funds, as appropriate,
will interview prospective nominees. Once this evaluation is completed, the Committee recommends such candidates as it determines appropriate
to the Independent Trustees for nomination, and the Independent Trustees select the nominees after considering the recommendation of the
Committee. The Board has adopted a written charter for the Committee, a current copy of which is available at https://www.putnam.com/about-putnam/board-of-trustees/
at the bottom of that page. The Committee is composed entirely of Independent Trustees and currently consists of Dr. Hill (Chair), Mses.
Baumann and Sutphen and Mr. Putnam.

Brokerage Committee.The Brokerage Committee reviews
the Putnam funds’ policies regarding the execution of portfolio trades and Franklin Advisers’ (and its affiliates’)
practices and procedures relating to the implementation of those policies. The Committee reviews periodic reports on the cost and quality
of execution of portfolio transactions and the extent to which brokerage commissions have been used (i) by Franklin Advisers (or its affiliates)
to obtain brokerage and research services generally useful to it (or its affiliates) in managing the portfolios of the funds and of its
other clients, and (ii) by the funds to pay for certain fund expenses. The Committee reports to the Trustees and makes recommendations
to the Trustees regarding these matters. The Committee currently consists of Messrs. Ahamed (Chair), Putnam and Reynolds, and Mses. Baumann
and Domotorffy, and Dr. Hill.

Contract Committee.The Contract Committee reviews
and evaluates arrangements pertaining to (i) the engagement of Franklin Advisers and its affiliates to provide services to the Putnam
funds, (ii) the expenditure of the open-end funds’ assets for distribution purposes pursuant to Distribution Plans of the open-end
Putnam funds, and (iii) the engagement of other persons to provide certain material