Company: FPF
Filing Date: 2025-03-13
Form Type: DEF 14A
Source: 0001445546-25-002022
Chunk: 13

Company: First Trust Intermediate Duration Preferred & Income Fund
Filing Date: 2025-03-13
Form: DEF 14A
Chunk 13
---
 term as approved by the Independent Trustees
or until his or her successor is selected. The Vice Lead Independent Trustee assists the Lead Independent Trustee in the performance of
his or her responsibilities and, in the absence of the Lead Independent Trustee, may act in the place of the Lead Independent Trustee.
The Vice Lead Independent Trustee is also responsible for any other duties that the Independent Trustees may delegate to him or her. Thomas
R. Kadlec currently serves as the Vice Lead Independent Trustee.

The Board has established
five standing committees (as described below) and has delegated certain of its responsibilities to those committees. The Board and its
committees meet frequently throughout the year to oversee the Funds’ activities, review contractual arrangements with and performance
of service providers, oversee compliance with regulatory requirements, and review Fund performance. The Independent Trustees are represented
by independent legal counsel at all Board and committee meetings (other than meetings of the Dividend Committee). Generally, the Board
acts by majority vote of all the Trustees, except where a different vote is required by applicable law.

The five standing
committees of the Board are: the Executive Committee, the Dividend Committee, the Nominating and Governance Committee, the Valuation Committee
and the Audit Committee. The Dividend Committee, the Nominating and Governance Committee, the Valuation Committee and the Audit Committee
each have a Chair, and the Audit Committee has a Vice Chair. The Committee Chairs, the Audit Committee Vice Chair, the Lead Independent
Trustee and the Vice Lead Independent Trustee rotate periodically in serving in such capacities. The next rotation is currently scheduled
to be effective January 1, 2026. In addition, the Lead Independent Trustee and the Vice Lead Independent Trustee currently serve on the
Executive Committee with the Interested Trustee.

Below is additional
information about the Board’s standing committees.

Executive Committee.The Executive Committee, which meets between Board meetings, is authorized to exercise all powers of and to act in the place of the
Board to the extent permitted by each Fund’s Declaration of Trust and By-Laws. The members of the Executive Committee of a Fund
are authorized to exercise all of the powers and authority of the Board in respect of the issuance and sale, through an underwritten public
offering, of the Shares of the Fund and all other such matters relating to such financing, including determining the price at which such
Shares are to be sold, approval of the final terms of the underwriting agreement, and approval of the members