Company: PIM
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000928816-25-000374
Chunk: 42

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 42
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 services to the funds, including in particular those
instances where the cost of services is shared between the funds and Franklin Advisers and its affiliates or where Franklin Advisers or
its affiliates have a material interest. The Committee also reviews certain matters relating to closed-end funds. In addition, the Committee
also reviews communications with, and the quality of services provided to, shareholders and oversees the marketing and sale of fund shares
by Putnam Retail Management. The Committee reports and makes recommendations to the Trustees regarding these matters. The Committee currently
consists of Messrs. Putnam (Chair) and Ahamed, Mses. Baumann and Domotorffy, and Dr. Hill.

Exchange-Traded Fund Committee.The Exchange-Traded Fund
Committee is responsible for assisting the Trustees in their oversight of the Putnam funds that are exchange-traded funds (“ETFs”).
The Committee reviews matters arising from time to time relating to the ETFs that are not otherwise within the general subject matter
purview of another committee, including, but not limited to: (i) service provider relationships that are specific to the ETFs, (ii) business,
industry, legal, and regulatory matters that are specific to the ETFs, (iii) proposals relating to new ETFs, and (iii) transactions involving
ETFs. The Committee reports to the Trustees and makes recommendations to the Trustees regarding these matters. The current members are
Messrs. Ahamed (Chair), McGreevey, and Reynolds, Dr. Hill, and Mses. Domotorffy, Murphy, Sutphen and Trust.

Executive Committee.The functions of the Executive
Committee are twofold. The first is to ensure that the Putnam funds’ business may be conducted at times when it is not feasible
to convene a meeting of the Trustees or for the Trustees to act by written consent. The Committee may exercise any or all of the power
and authority of the Trustees when the Trustees are not in session. The second is to review annual and ongoing goals, objectives and priorities
for the Board and to facilitate coordination of all efforts between the Trustees and Franklin Advisers on behalf of the shareholders of
the funds. The Committee currently consists of Ms. Baumann and Messrs. Putnam and Singh.

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Investment Oversight Committees.The Investment Oversight
Committees regularly meet with investment personnel of Franklin Advisers and its affiliates to review the investment performance and strategies
of the funds in light of their stated goals and policies. The Committees seek