Company: PIM
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000928816-25-000374
Chunk: 21

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 21
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 Putnam funds complex ($)(2) |
| Liaquat Ahamed/2012(2)        |                                   N/A |                    $382,000 |
| Barbara M. Baumann/2010(2)(3) |                                   N/A |                    $464,500 |
| Katinka Domotorffy/2012(2)    |                                   N/A |                    $382,000 |
| Catharine Bond Hill/2017(2)   |                                   N/A |                    $368,660 |
| Gregory G. McGreevey/2024(4)  |                                   N/A |                    $189,590 |
| Jennifer Williams Murphy/2022 |                                   N/A |                    $382,000 |
| Marie Pillai/2022(2)          |                                   N/A |                    $355,320 |
| George Putnam III/1984(5)     |                              $130,333 |                    $407,000 |
| Manoj P. Singh/2017(6)        |                                   N/A |                    $407,000 |
| Mona K. Sutphen/2020          |                                   N/A |                    $382,000 |
| Interested Trustees           |                                       |                             |
| Robert L. Reynolds/2008(7)    |                                   N/A |                         N/A |
| Jane E. Trust/2024(7)         |                                   N/A |                         N/A |

(1) Estimated benefits for each current Trustee are based on Trustee
fee rates for calendar years 2003, 2004 and 2005.

| 30 |

(2) As of December 31, 2024, there were 89 mutual funds, 4 closed-end
funds, and 12 exchange-traded funds in the Putnam funds complex. Certain Trustees are also owed compensation deferred pursuant to a Trustee
Compensation Deferral Plan. As of each fund’s fiscal year ended prior to December 31, 2024, no amounts of deferred compensation
were payable, including income earned on such amounts, to these Trustees by Putnam Managed Municipal Income Trust, Putnam Master Intermediate
Income Trust, Putnam Municipal Opportunities Trust, or Putnam Premier Income Trust.

(3) Includes additional compensation to Ms. Baumann for service
as Vice Chair of the Board of Trustees through June 30, 2024 and as Chair of the Board of Trustees thereafter.

(4) Mr. McGreevey was appointed to the Board of Trustees on