Company: PIM
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000928816-25-000374
Chunk: 40

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 40
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”), and the listing standards of the New York Stock Exchange. 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
currently consists of Messrs. Singh (Chair) and McGreevey and Mses. Pillai and Sutphen. Mr. Singh, Dr. Hill, and Ms. Murphy have each
been designated an “audit committee financial expert” within the meaning of applicable SEC rules.

Board Policy and Nominating Committee.The Board Policy
and Nominating Committee reviews matters pertaining to the operations of the Board and its committees, the compensation of the Trustees,
and the conduct of legal affairs for the Putnam funds. The Committee also oversees Franklin Advisers’ voting of proxies associated
with portfolio investments of the Putnam funds, with the goal of ensuring that these proxies are voted in the best interest of each fund’s
shareholders. The Committee reports to the Trustees and makes recommendations to the Trustees regarding these matters.

The Committee evaluates and recommends all candidates for election
as Trustees and recommends the appointment of members and chairs of each Board committee. The Committee also identifies prospective nominees
for election as Trustee by considering individuals that come to its attention through the recommendation of current Trustees, Franklin
Advisers or shareholders. Candidates properly submitted by shareholders will be considered and evaluated on the same basis as candidates
recommended by other sources. The Committee will consider nominees for Trustee recommended by shareholders of a fund provided that the
recommendations are submitted by the date disclosed in the fund’s proxy statement and otherwise comply with the fund’s by-laws
and applicable securities laws, including Rule 14a-8 under the Exchange Act. The Committee may, but is not required to, engage a third-party
professional search firm to assist it in identifying and evaluating potential nominees.

When evaluating a potential candidate for membership on the Board,
the Committee considers the skills and characteristics that it determines would most benefit the Putnam funds at the time the evaluation
is made. The Committee may take into account a wide variety of attributes in considering potential Trustee candidates, including, but
not limited to: (i) availability and commitment of a candidate to attend meetings and perform his or her responsibilities to the Board,
(ii) other board experience, (iii) relevant industry and related experience, (iv) educational background, (v) financial expertise, (vi)
an assessment of the