# EDGAR Filing Document

**Accession Number:** 0000856517
**File Stem:** 0001623632-23-000411
**Filing Date:** 2023-3
**Character Count:** 372742
**Document Hash:** 7591ea2b10bcf422300cfd124326b449
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001623632-23-000411.hdr.sgml**: 20230705

**ACCESSION NUMBER**: 0001623632-23-000411

**CONFORMED SUBMISSION TYPE**: 485APOS

**PUBLIC DOCUMENT COUNT**: 8

**FILED AS OF DATE**: 20230321

**DATE AS OF CHANGE**: 20230705

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Federated Hermes Money Market Obligations Trust
- **CENTRAL INDEX KEY:** 0000856517
- **IRS NUMBER:** 251415329
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** 485APOS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05950
- **FILM NUMBER:** 23748360

**BUSINESS ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086-7561
- **BUSINESS PHONE:** 8003417400

**MAIL ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086-7561

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MONEY MARKET OBLIGATIONS TRUST
- **DATE OF NAME CHANGE:** 20101109

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MONEY MARKET OBLIGATIONS TRUST /NEW/
- **DATE OF NAME CHANGE:** 19920703
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Federated Hermes Money Market Obligations Trust
- **CENTRAL INDEX KEY:** 0000856517
- **IRS NUMBER:** 251415329
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** 485APOS
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-31602
- **FILM NUMBER:** 23748359

**BUSINESS ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086-7561
- **BUSINESS PHONE:** 8003417400

**MAIL ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086-7561

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MONEY MARKET OBLIGATIONS TRUST
- **DATE OF NAME CHANGE:** 20101109

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MONEY MARKET OBLIGATIONS TRUST /NEW/
- **DATE OF NAME CHANGE:** 19920703

**1933 Act File No. 33-31602**

**1940 Act File No. 811-5950**

**SECURITIES AND EXCHANGE COMMISSION**

Washington, DC 20549

**Form N-1A**

**REGISTRATION STATEMENT**

***UNDER THE SECURITIES ACT OF 1933*** **☒**

**Pre-Effective Amendment No.** **☐**

**Post-Effective Amendment No. 249** **☒**

**and/or**

**REGISTRATION STATEMENT**

***UNDER THE INVESTMENT COMPANY ACT OF 1940*** **☒**

**Amendment No. 251** **☒**

**Federated Hermes Money Market Obligations Trust**

**(Exact name of Registrant as Specified in Charter)**

**Federated Hermes Funds**<br> 4000 Ericsson Drive

Warrendale, PA 15086-7561

(Address of Principal Executive Offices)

**(412) 288-1900**

(Registrant's Telephone Number, including Area Code)

**Peter J. Germain, Esquire**<br> 1001 Liberty Avenue

Pittsburgh, Pennsylvania 15222-3779

(Name and Address of Agent for Service)

It is proposed that this filing will become effective (check appropriate box):

---

| | |
|:---|:---|
| ☐ | immediately upon filing pursuant to paragraph (b) |
| ☐ | On __________ pursuant to paragraph (b) |
| ☐ | 60 days after filing pursuant to paragraph (a)(1) |
| ☒ | On June 1, 2023 pursuant to paragraph (a)(1) |
| ☐ | 75 days after filing pursuant to paragraph (a)(2) |
| ☐ | On __________ pursuant to paragraph (a)(2) of Rule 485 |
|  | **If appropriate, check the following:** |
| **☐** | This post-effective amendment designates a new effective date for a previously filed post-effective amendment. |

---

**Prospectus**

***[June __, 2023]***

![](imgd468f63c1.gif)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Share Class** \| Ticker | **Service** \| TBD |

---

------

Federated Hermes Trust for U.S. Treasury Obligations

------

A Portfolio of Federated Hermes Money Market Obligations Trust

A money market mutual fund seeking stability of principal and current income consistent with stability of principal by investing in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements collateralized fully by U.S. Treasury securities.

As with all mutual funds, the Securities and Exchange Commission (SEC) has not approved or disapproved these securities or passed upon the adequacy of this Prospectus. Any representation to the contrary is a criminal offense.

**A Registration Statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. Information contained herein is subject to completion or amendment. These securities may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. This Prospectus is not an offer to sell these securities and is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.**

------

**Not FDIC Insured ▪ May Lose Value ▪ No Bank Guarantee**

------

**CONTENTS** 

---

| | |
|:---|:---|
| [Fund Summary Information](#xx_137f70f4-4847-4b7f-93fb-97db07b7ae69_1)[–](#xx_137f70f4-4847-4b7f-93fb-97db07b7ae69_1)[Service Shares](#xx_137f70f4-4847-4b7f-93fb-97db07b7ae69_1) | &nbsp;&nbsp; [1](#xx_137f70f4-4847-4b7f-93fb-97db07b7ae69_1)  |
| [What are the Fund's Investment Strategies?](#xx_91811992-d9f2-4610-9771-2ec4648d8872_1) | &nbsp;&nbsp; [5](#xx_91811992-d9f2-4610-9771-2ec4648d8872_1)  |
| [What are the Fund's Principal Investments?](#xx_91811992-d9f2-4610-9771-2ec4648d8872_1) | &nbsp;&nbsp; [5](#xx_91811992-d9f2-4610-9771-2ec4648d8872_1)  |
| [What are the Specific Risks of Investing in the Fund?](#xx_91811992-d9f2-4610-9771-2ec4648d8872_2) | &nbsp;&nbsp; [6](#xx_91811992-d9f2-4610-9771-2ec4648d8872_2)  |
| [What Do Shares Cost?](#xx_91811992-d9f2-4610-9771-2ec4648d8872_3) | &nbsp;&nbsp; [7](#xx_91811992-d9f2-4610-9771-2ec4648d8872_3)  |
| [How is the Fund Sold?](#xx_91811992-d9f2-4610-9771-2ec4648d8872_4) | &nbsp;&nbsp; [8](#xx_91811992-d9f2-4610-9771-2ec4648d8872_4)  |
| [Payments to Financial Intermediaries](#xx_91811992-d9f2-4610-9771-2ec4648d8872_4) | &nbsp;&nbsp; [8](#xx_91811992-d9f2-4610-9771-2ec4648d8872_4)  |
| [How to Purchase Shares](#xx_91811992-d9f2-4610-9771-2ec4648d8872_5) | &nbsp;&nbsp; [9](#xx_91811992-d9f2-4610-9771-2ec4648d8872_5)  |
| [How to Redeem and Exchange Shares](#xx_91811992-d9f2-4610-9771-2ec4648d8872_7) | [11](#xx_91811992-d9f2-4610-9771-2ec4648d8872_7)  |
| [Security and Privacy Protection](#xx_91811992-d9f2-4610-9771-2ec4648d8872_10) | [14](#xx_91811992-d9f2-4610-9771-2ec4648d8872_10)  |
| [Account and Share Information](#xx_91811992-d9f2-4610-9771-2ec4648d8872_11) | [15](#xx_91811992-d9f2-4610-9771-2ec4648d8872_11)  |
| [Who Manages the Fund?](#xx_91811992-d9f2-4610-9771-2ec4648d8872_13) | [17](#xx_91811992-d9f2-4610-9771-2ec4648d8872_13)  |
| [Financial Information](#xx_91811992-d9f2-4610-9771-2ec4648d8872_13) | [17](#xx_91811992-d9f2-4610-9771-2ec4648d8872_13)  |
| [Appendix A: Hypothetical Investment and Expense Information](#xx_1f498cff-2596-4ba6-906d-e2eefc60f4ef_1) | [19](#xx_1f498cff-2596-4ba6-906d-e2eefc60f4ef_1) |

---

------

Fund Summary Information–Service Shares

**Federated Hermes Trust for U.S. Treasury Obligations (the "Fund")**

**RISK/RETURN SUMMARY: INVESTMENT OBJECTIVE**

The Fund is a money market fund that seeks to maintain a stable net asset value (NAV) of $1.00 per Share. The Fund's investment objective is to provide stability of principal and current income consistent with stability of principal.

**RISK/RETURN SUMMARY: FEES AND EXPENSES**

This table describes the fees and expenses that you may pay if you buy, hold and sell Service Shares (SS) of the Fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.**

**Shareholder Fees (fees paid directly from your investment)** 

---

| | |
|:---|:---|
|  | **SS** |
| Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | None |
| Maximum Deferred Sales Charge (Load) (as a percentage of original purchase price or redemption proceeds, as applicable) | None |
| Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) (as a percentage of offering price) | None |
| Redemption Fee (as a percentage of amount redeemed, if applicable) | None |
| Exchange Fee | None |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** 

---

| | |
|:---|:---|
|  | **SS** |
| Management Fee | 0.20% |
| Distribution (12b-1) Fee |  |
| Other Expenses<sup>1</sup> | 0.35% |
| Total Annual Fund Operating Expenses | 0.55% |
| Fee Waivers and/or Expense Reimbursements<sup>2</sup> | (0.10)% |
| Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursements | 0.45% |

---

Other expenses are based on estimated amounts for the current fiscal year.

The Adviser and certain of its affiliates on their own initiative have agreed to waive certain amounts of their respective fees and/or reimburse expenses. Total annual fund operating expenses (excluding acquired fund fees and expenses, interest expense, extraordinary expenses and proxy related expenses paid by the Fund, if any) paid by the Fund's SS class (after the voluntary waivers and/or reimbursements) will not exceed 0.45% (the "Fee Limit") up to but not including the later of (the "Termination Date"): (a) July 1, 2024; or (b) the date of the Fund's next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased, prior to the Termination Date with the agreement of the Trustees.

**Example**

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 for the time periods indicated and then redeem or hold all of your Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. The Example does not reflect sales charges (loads) on reinvested dividends. If these sales charges (loads) were included, your costs would be higher. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:

---

| | |
|:---|:---|
| 1 Year | $56 |
| 3 Years | $176 |
| 5 Years | $307 |
| 10 Years | $689 |

---

**RISK/RETURN SUMMARY: INVESTMENTS, RISKS and PERFORMANCE** 

**What are the Fund's Main Investment Strategies?**

The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements collateralized fully by U.S. Treasury securities. The Fund may also hold cash.

**1**

------

In pursuing its investment objective and implementing its investment strategies, the Fund will comply with Rule 2a-7 under the Investment Company Act of 1940 ("Rule 2a-7").

The Fund will operate as a "government money market fund," as such term is defined in or interpreted under Rule 2a-7 under the Investment Company Act of 1940, as amended (the "1940 Act"). "Government money market funds" are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are exempt from requirements that permit money market funds to impose a liquidity fee and/or temporary redemption gates.

The Fund has not elected to be subject to the liquidity fees and gates requirement at this time.

The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are invested in U.S. Treasury investments. The Fund will notify shareholders at least 60 days in advance of any change in its investment policy that would enable the Fund to normally invest less than 80% of its net assets (plus any borrowings for investment purposes) in U.S. Treasury investments.

**What are the Main Risks of Investing in the Fund?**

All mutual funds take investment risks. Therefore, even though the Fund is a money market fund that seeks to maintain a stable NAV, it is possible to lose money by investing in the Fund. The primary factors that may negatively impact the Fund's ability to maintain a stable NAV, delay the payment of redemptions by the Fund, or reduce the Fund's daily dividends include:

◾ **Interest Rate Risk.** Prices of fixed-income securities generally fall when interest rates rise. Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Very low or negative interest rates magnify interest rate risk. During periods when interest rates are low or there are negative interest rates, the Fund's yield (and total return) also is likely to be lower or the Fund may be unable to maintain a positive return, or yield, or a stable NAV.

◾ **Risk Related to the Economy.** The value of the Fund's portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets. Economic, political and financial conditions, industry or economic trends and developments or public health risks, such as epidemics or pandemics, may, from time to time, and for varying periods of time, cause the Fund to experience volatility, illiquidity, shareholder redemptions, or other potentially adverse effects.

◾ **Counterparty Credit Risk.** A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.

◾ **Risk Associated with Investing Share Purchase Proceeds.** On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund's yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund's yield to increase. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.

◾ **Risk Associated with use of Amortized Cost.** In the unlikely event that the Fund's Board of Trustees ("Board") were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund's amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce to the extent practicable such dilution or unfair results.

◾ **Additional Factors Affecting Yield.** There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund's yield will vary. Periods of very low or negative interest rates impact, in a negative way, the Fund's ability to maintain a positive return, or yield, or pay dividends to Fund shareholders.

◾ **Technology Risk.** The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**2**

------

You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

**Performance: Bar Chart and Table** 

**Risk/Return Bar Chart**

The total returns shown below are for an existing class of shares, Institutional Shares (IS), offered by the Fund. The IS class is not offered in this Prospectus for the Fund's Service Shares (SS). The total returns for the IS class are disclosed below because the SS class will not commence operations until on or about [June , 2023]. The total returns for the SS class would be substantially similar to the annual returns for the IS class over the same period because the classes are invested in the same portfolio of securities and would differ only to the extent the classes do not have the same expenses. It is anticipated that the expense ratio of the SS class will be higher than the expense ratio of the IS class; accordingly, the actual performance of the SS class is anticipated to be lower than the performance of the IS class.

The bar chart and performance table below reflect historical performance data for the Fund and are intended to help you analyze the Fund's investment risks in light of its historical returns. The bar chart shows the variability of the Fund's IS class total returns on a calendar year-by-year basis. The Average Annual Total Return Table shows returns *averaged* over the stated periods. *The Fund's performance will fluctuate, and past performance (before and after taxes) is not necessarily an indication of future results.* Updated performance information for the Fund is available under the "Products" section at FederatedInvestors.com or by calling 1-800-341-7400.

![](ttopro8110114ais.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

*The Fund's IS class total return for the three-month period from January 1, 2023 to March 31, 2023, was x.xx%.*

*Within the periods shown in the bar chart, the Fund's IS class highest quarterly return was 0.86% (quarter ended December 31, 2022). Its lowest quarterly return was 0.00% (quarter ended December 31, 2021).*

**Average Annual Total Return Table**

The following table represents the Fund's IS class Average Annual Total Returns for the calendar period ended December 31, 2022.

---

| | | | |
|:---|:---|:---|:---|
| **Share Class** | **1 Year** | **5 Years** | **10 Years** |
| **IS:** | 1.47% | 1.11% | 0.65% |

---

*The Fund's IS class 7-Day Net Yield as of December 31, 2022, was 4.13%. You may go to <u>FederatedInvestors.com</u> or call the Fund at 1-800-341-7400 for the current 7-Day Net Yield.*

**FUND MANAGEMENT**

The Fund's Investment Adviser is Federated Investment Management Company.

**Purchase and Sale of Fund Shares**

The minimum initial investment amount for the Fund's SS class is generally $500,000 and there is no minimum subsequent investment amount. Certain types of accounts are eligible for lower minimum investments.

You may purchase, redeem or exchange Shares of the Fund on any day the New York Stock Exchange (NYSE) is open. Shares may be purchased through a financial intermediary or directly from the Fund, by wire or by check. Please note that certain purchase restrictions may apply. Redeem or exchange Shares through a financial intermediary or directly from the Fund by telephone at 1-800-341-7400 or by mail.

**3**

------

**Tax Information**

The Fund's distributions are taxable as ordinary income or capital gains except when your investment is through a 401(k) plan, an Individual Retirement Account or other tax-advantaged investment plan.

**Payments to Broker-Dealers and Other Financial Intermediaries**

If you purchase the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and/or its related companies may pay the intermediary for the sale of Fund Shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary's website for more information.

**4**

------

What are the Fund's Investment Strategies?

The Fund's investment objective is to provide stability of principal and current income consistent with stability of principal. While there is no assurance that the Fund will achieve its investment objective, it endeavors to do so by following the strategies and policies described in this Prospectus.

The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements collateralized fully by U.S. Treasury securities. The Fund may also hold cash.

The Adviser targets a dollar-weighted average portfolio maturity (WAM) range based upon its interest rate outlook. The Adviser formulates its interest rate outlook by analyzing a variety of factors, such as:

◾ current U.S. economic activity and the economic outlook;

◾ current short-term interest rates;

◾ the Federal Reserve Board's policies regarding short-term interest rates; and

◾ the potential effects of foreign economic activity on U.S. short-term interest rates.

The Adviser generally shortens the portfolio's WAM when it expects interest rates to rise and extends the WAM when it expects interest rates to fall. This strategy seeks to enhance the returns from favorable interest rate changes and reduce the effect of unfavorable changes. The Adviser selects securities used to shorten or extend the portfolio's WAM by comparing the returns currently offered by different investments to their historical and expected returns.

The Fund will: (1) maintain a WAM of 60 days or less; and (2) maintain a weighted average life (WAL) of 120 days or less. Certain of the securities in which the Fund invests may pay interest at a rate that is periodically adjusted ("Adjustable Rate Securities"). For purposes of calculating WAM, the maturity of an Adjustable Rate Security generally will be the period remaining until its next interest rate adjustment. For purposes of calculating WAL, the maturity of an Adjustable Rate Security will be its stated final maturity, without regard to interest rate adjustments; accordingly, the 120-day WAL limitation could serve to limit the Fund's ability to invest in Adjustable Rate Securities.

The Fund will operate as a "government money market fund," as such term is defined in or interpreted under Rule 2a-7 under the 1940 Act. "Government money market funds" are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are exempt from requirements that permit money market funds to impose a liquidity fee and/or temporary redemption gates.

The Fund has not elected to be subject to the liquidity fees and gates requirement at this time.

The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are invested in U.S. Treasury investments. The Fund will notify shareholders at least 60 days in advance of any change in its investment policy that would enable the Fund to normally invest less than 80% of its net assets (plus any borrowings for investment purposes) in U.S. Treasury investments.

**TEMPORARY CASH POSITIONS**

The Fund may temporarily depart from its principal investment strategies by holding cash. It may do this in response to unusual circumstances, such as: adverse market, economic or other conditions (for example, during periods when there is a shortage of appropriate securities); to maintain liquidity to meet shareholder redemptions; or to accommodate cash inflows. Such temporary cash positions could affect the Fund's investment returns and/or the Fund's ability to achieve its investment objective.

What are the Fund's Principal Investments?

The following provides general information on the Fund's principal investments. The Fund's Statement of Additional Information (SAI) provides information about the Fund's non-principal investments and may provide additional information about the Fund's principal investments.

**U.S. Treasury Securities** 

U.S. Treasury securities are direct obligations of the federal government of the United States. U.S. Treasury securities pay interest, dividends or distributions at a specified rate. The rate may be a fixed percentage of the principal or adjusted periodically. In addition, the U.S. Treasury must repay the principal amount of the security, normally within a specified time.

**5**

------

**Repurchase Agreements**

Repurchase agreements are transactions in which the Fund buys a security from a dealer or bank and agrees to sell the security back at a mutually agreed-upon time and price. The repurchase price exceeds the sale price, reflecting the Fund's return on the transaction. This return is unrelated to the interest rate on the underlying security. The Fund will enter into repurchase agreements only with banks and other recognized financial institutions, such as securities dealers, deemed creditworthy by the Adviser.

The Fund's custodian or subcustodian will take possession of the securities subject to repurchase agreements. The Adviser or subcustodian will monitor the value of the underlying security each day to ensure that the value of the security always equals or exceeds the repurchase price.

Repurchase agreements are subject to credit risks.

**Additional Information Regarding the Security Selection Process**

As part of analysis in its security selection process, among other factors, the Adviser also evaluates whether environmental, social and governance factors could have a positive or negative impact on the risk profiles of many issuers or guarantors in the universe of securities in which the Fund may invest. The Adviser may also consider information derived from active engagements conducted by its in-house stewardship team with certain issuers or guarantors on environmental, social and governance topics. This qualitative analysis does not automatically result in including or excluding specific securities but may be used by Federated Hermes as an additional input in its primary analysis.

What are the Specific Risks of Investing in the Fund?

The following provides general information on the risks associated with the Fund's principal investments. These are the primary factors that may negatively impact the Fund's ability to maintain a stable NAV, delay the payment of redemptions by the Fund or reduce the Fund's daily dividends. Any additional risks associated with the Fund's non-principal investments are described in the Fund's SAI. The Fund's SAI also may provide additional information about the risks associated with the Fund's principal investments.

**INTEREST RATE RISK**

Prices of fixed-income securities rise and fall in response to changes in interest rates. Generally, when interest rates rise, prices of fixed-income securities fall. However, market factors, such as the demand for particular fixed-income securities, may cause the price of certain fixed-income securities to fall while the prices of other securities rise or remain unchanged.

Recent and potential future changes in monetary policy made by central banks and/or their governments are likely to affect the level of interest rates. Money market funds try to minimize this risk by purchasing short-term securities. Negative or very low interest rates magnify the risks associated with changes in interest rates. In general, changing interest rates, including rates that fall below zero, have unpredictable effects on markets and expose debt and related markets to heightened volatility and may detract from Fund performance to the extent a Fund is exposed to such interest rates and/or volatility. During periods when interest rates are low or there are negative interest rates, a Fund's yield (and total return) also is likely to be low or otherwise adversely affected or the Fund may be unable to maintain a positive return, or yield, or minimize the volatility of the Fund's NAV per share or maintain a stable NAV.

**Risk Related to the Economy**

The value of the Fund's portfolio may decline in tandem with a drop in the overall value of the markets in which the Fund invests and/or other markets based on negative developments in the U.S. and global economies. Economic, political and financial conditions, or industry or economic trends and developments, may, from time to time, and for varying periods of time, cause volatility, illiquidity and/or other potentially adverse effects in the financial markets, including the fixed-income market. The commencement, continuation or ending of government policies and economic stimulus programs, changes in monetary policy, increases or decreases in interest rates, or other factors or events that affect the financial markets, including the fixed-income markets, may contribute to the development of or increase in volatility, illiquidity, shareholder redemptions and other adverse effects which could negatively impact the Fund's performance. For example, the value of certain portfolio securities may rise or fall in response to changes in interest rates, which could result from a change in government policies, and has the potential to cause investors to move out of certain portfolio securities, including fixed-income securities, on a large scale across the market. This may increase redemptions from funds that hold impacted securities. Such a market event could result in decreased liquidity and increased volatility in the financial markets. Market factors, such as the demand for particular portfolio securities, may cause the price of certain portfolio securities to fall while the prices of other securities rise or remain unchanged.

**6**

------

**Epidemic and Pandemic Risk**

An outbreak of respiratory disease caused by a novel coronavirus was first detected in China in late 2019 and subsequently spread globally. This coronavirus has resulted in, and may continue to result in, closed borders, enhanced health screenings, disruptions to healthcare service preparation and delivery, quarantines, cancellations and disruptions to supply chains, workflow operations and consumer activity, as well as general concern and uncertainty. The impact of this coronavirus has resulted in substantial economic volatility. Health crises caused by outbreaks, such as the coronavirus outbreak, may exacerbate other pre-existing political, social and economic risks. The impact of this outbreak, and other epidemics and pandemics that may arise in the future, could continue to negatively affect the worldwide economy, as well as the economies of individual countries, individual companies, including certain Fund service providers and issuers of the Fund's investments, and the markets in general in significant and unforeseen ways. In addition, governments, their regulatory agencies, or self-regulatory organizations may take actions in response to the pandemic, including significant fiscal and monetary policy changes, that may affect the instruments in which the Fund invests or the issuers of such instruments. Any such impact could adversely affect the Fund's performance.

**COUNTERPARTY CREDIT RISK**

A party to a transaction involving the Fund may fail to meet its obligations. This could cause the Fund to lose money or to lose the benefit of the transaction or prevent the Fund from selling or buying other securities to implement its investment strategies.

**RISK ASSOCIATED WITH INVESTING SHARE PURCHASE PROCEEDS**

On days during which there are net purchases of Fund Shares, the Fund must invest the proceeds at prevailing market yields or hold cash. If the Fund holds cash, or if the yield of the securities purchased is less than that of the securities already in the portfolio, the Fund's yield will likely decrease. Conversely, net purchases on days on which short-term yields rise will likely cause the Fund's yield to increase. The larger the amount that must be invested or the greater the difference between the yield of the securities purchased and the yield of the existing investments, the greater the impact will be on the yield of the Fund. In the event of significant changes in short-term yields or significant net purchases, the Fund retains the discretion to close to new investments. However, the Fund is not required to close, and no assurance can be given that this will be done in any given circumstance.

**RISK ASSOCIATED WITH USE OF AMORTIZED COST**

In the unlikely event that the Fund's Board were to determine, pursuant to Rule 2a-7, that the extent of the deviation between the Fund's amortized cost per Share and its market-based NAV per Share may result in material dilution or other unfair results to shareholders, the Board will cause the Fund to take such action as it deems appropriate to eliminate or reduce, to the extent practicable, such dilution or unfair results, including, but not limited to, considering suspending redemption of Shares and liquidating the Fund under Rule 22e-3 under the Investment Company Act of 1940.

**ADDITIONAL FACTORS AFFECTING YIELD**

There is no guarantee that the Fund will provide a certain level of income or that any such income will exceed the rate of inflation. Further, the Fund's yield will vary. A low or negative interest rate environment may prevent the Fund from providing a positive return, or yield, or paying Fund expenses out of current income and could impair the Fund's ability to maintain a stable NAV. The Fund's yield could also be negatively affected (both in absolute terms, and as compared to, other money market funds) by aspects of its investment program (for example, its investment policies, strategies or limitations) or its operational policies (for example, its cut-off time for purchases and redemptions of Shares).

**technology Risk**

The Adviser uses various technologies in managing the Fund, consistent with its investment objective(s) and strategy described in this Prospectus. For example, proprietary and third-party data and systems are utilized to support decision-making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance.

What Do Shares Cost?

**CALCULATION OF NET ASSET VALUE**

The Fund attempts to stabilize the NAV of its Shares at $1.00 by valuing the portfolio securities using the amortized cost method. In addition, for regulatory purposes, the Fund calculates a market-based (or shadow) NAV per Share on a daily basis for purposes of confirming that its NAV continues to approximate fair value. For purposes of calculating the shadow NAV and monitoring its comparison to the amortized-cost-based NAV, pursuant to Rule 2a-5 under the

**7**

------

Investment Company Act, the Board has designated the Adviser as the Fund's valuation designee to perform any fair value determinations for securities and other assets held by the Fund. The Adviser, acting through its "Valuation Committee" is responsible for determining the fair value of investments in the shadow NAV for which market quotations are not readily available. The Valuation Committee is comprised of officers of the Adviser and certain of the Adviser's affiliated companies and determines fair value and oversees the calculation of the NAV. The Valuation Committee is subject to Board oversight and certain reporting and other requirements intended to provide the Board the information it needs to oversee the Adviser's fair value determinations. The Fund cannot guarantee that its NAV will always remain at $1.00 per Share. The Fund does not charge a front-end sales charge.

You can purchase, redeem or exchange Shares any day the NYSE is open (a "Regular Business Day"). You may also be able to purchase and redeem (but not exchange) Shares on certain days that the NYSE is closed on an unscheduled basis due to unforeseen or emergency circumstances, if the Fund's Board determines to allow Fund Share transactions on such days (a "Special Trading Day"). If the Fund declares a Special Trading Day, information regarding shareholder trading activities for the Special Trading Day (such as when NAV, and entitlement to that day's dividend, will be determined) will be available by calling the Fund at 1-800-341-7400 and will be posted on FederatedInvestors.com. **The information set forth in this Prospectus regarding times relevant to NAV determination and dividend entitlement applies only to Regular Business Days.** Please note that the times that might be specified for NAV determination and dividend entitlement on a Special Trading Day would not necessarily be the same as set forth in this Prospectus with respect to Regular Business Days. Although Federated Hermes will attempt to make such information available in advance of a particular Special Trading Day, given the nature of Special Trading Days, it may not be able to do so until the morning of the Special Trading Day.

When the Fund receives your transaction request in proper form (as described in this Prospectus under the sections entitled "How to Purchase Shares" and "How to Redeem and Exchange Shares"), it is processed at the next determined NAV. NAV is generally determined at 4:00 p.m. Eastern time each day the NYSE is open; except that on the day after Thanksgiving and Christmas Eve (when Christmas Eve falls on a weekday), NAV will be determined at 3:00 p.m. Eastern time. The times as of when NAV is determined, and when orders must be placed, may be changed as permitted by the SEC.

How is the Fund Sold?

The Fund offers four Share classes: Institutional Shares, Cash II Shares, Cash Series Shares and Service Shares, each representing interests in a single portfolio of securities. This Prospectus relates to the Service Share class. All Share classes have different expenses which affect their performance. Please note that certain purchase restrictions may apply. Contact your financial intermediary or call 1-800-341-7400 for more information concerning the other classes.

Under the Distributor's Contract with the Fund, the Distributor, Federated Securities Corp., offers Shares on a continuous, best-efforts basis. The Distributor is a subsidiary of Federated Hermes, Inc. ("Federated Hermes" formerly, Federated Investors, Inc.).

The Fund's Distributor markets the Shares described in this Prospectus to institutional investors, such as banks, fiduciaries, custodians, or public funds, or to individuals, directly or through financial intermediaries.

**Intra-Fund Share Conversion Program**

A shareholder in the Fund's Shares may convert their Shares at net asset value to any other share class of the Fund if the shareholder meets the investment minimum and eligibility requirements for the share class into which the conversion is sought, as applicable. Such conversion of classes should not result in a realization event for tax purposes. Contact your financial intermediary or call 1-800-341-7400 to convert your Shares.

Payments to Financial Intermediaries

The Fund and its affiliated service providers may pay fees as described below to financial intermediaries (such as broker-dealers, banks, investment advisers or third-party administrators) whose customers are shareholders of the Fund.

**SERVICE FEES**

The Fund may pay Service Fees of up to 0.25% of average net assets to financial intermediaries or to Federated Shareholder Services Company (FSSC), a subsidiary of Federated Hermes, for providing services to shareholders and maintaining shareholder accounts. Intermediaries that receive Service Fees may include a company affiliated with management of Federated Hermes. If a financial intermediary receives Service Fees on an account, it is not eligible to also receive Account Administration Fees on that same account.

**8**

------

**ACCOUNT ADMINISTRATION FEES**

The Fund may pay Account Administration Fees of up to 0.25% of average net assets to banks that are not registered as broker-dealers or investment advisers for providing administrative services to the Fund and its shareholders. If a financial intermediary receives Account Administration Fees on an account, it is not eligible to also receive Service Fees on that same account.

**NETWORKING FEES**

The Fund may reimburse Networking Fees on a per-account-per-year basis to financial intermediaries for providing administrative services to the Fund and its shareholders on certain non-omnibus accounts. If a financial intermediary receives Networking Fees on an account, it is not eligible to also receive Account Administration Fees on that same account.

**ADDITIONAL PAYMENTS TO FINANCIAL INTERMEDIARIES**

The Distributor may pay, out of its own resources, amounts to certain financial intermediaries, including broker-dealers, banks, registered investment advisers, independent financial planners and retirement plan administrators, that support the sale of Shares or provide services to Fund shareholders. The amounts of these payments could be significant, and may create an incentive for the financial intermediary or its employees or associated persons to recommend or sell Shares of the Fund to you. Not all financial intermediaries receive such payments and the amount of compensation may vary by intermediary. In some cases, such payments may be made by or funded from the resources of companies affiliated with the Distributor (including the Adviser). These payments are not reflected in the fees and expenses listed in the fee table section of the Fund's Prospectus and described above because they are not paid by the Fund.

These payments are negotiated and may be based on such factors as: the number or value of Shares that the financial intermediary sells or may sell; the value of client assets invested; the level and types of services or support furnished by the financial intermediary; or the Fund's and/or other Federated Hermes funds' relationship with the financial intermediary. These payments may be in addition to payments, as described above, made by the Fund to the financial intermediary. In connection with these payments, the financial intermediary may elevate the prominence or profile of the Fund and/or other Federated Hermes funds, within the financial intermediary's organization by, for example, placement on a list of preferred or recommended funds and/or granting the Distributor preferential or enhanced opportunities to promote the funds in various ways within the financial intermediary's organization. You can ask your financial intermediary for information about any payments it receives from the Distributor or the Fund and any services provided, as well as about fees and/or commissions it charges.

How to Purchase Shares

You may purchase Shares through a financial intermediary, directly from the Fund or through an exchange from another Federated Hermes fund. The Fund reserves the right to reject any request to purchase or exchange Shares. New investors must submit a completed New Account Form.

For important account information, see the section "Security and Privacy Protection."

The minimum initial investment for Service Shares is generally $500,000. There is no minimum subsequent investment amount.

An investor's minimum investment is calculated by combining all accounts it maintains with the Fund.

Financial intermediaries may impose higher or lower minimum investment requirements on their customers than those imposed by the Fund. Keep in mind that financial intermediaries may charge you fees for their services in connection with your Share transactions.

**THROUGH A FINANCIAL INTERMEDIARY**

Submit your purchase order to your financial intermediary. Financial intermediaries are responsible for promptly submitting purchase orders and payment to the Fund by electronic means permitted by the Fund, or according to the instructions in the sections "By Telephone" or "By Mail" below.

If your financial intermediary submits your order electronically, your order will be processed and you will be entitled to dividends pursuant to operating procedures established by the Fund. If your financial intermediary submits your order by telephone or by mail, your order will be processed and you will be entitled to dividends as outlined in the section "By Telephone" or the section "By Mail" below.

If you deal with a financial intermediary, you will have to follow the financial intermediary's procedures for transacting with the Fund. For more information about how to purchase Shares through your financial intermediary, you should contact your financial intermediary directly.

**9**

------

**DIRECTLY FROM THE FUND**

**By Telephone**

You may purchase Shares by calling the Fund at 1-800-341-7400.

Your purchase will be priced at the NAV next calculated after the Fund receives your order. Receipt of a purchase order by a financial intermediary will be deemed received by the Fund to the extent that such financial intermediary has been duly authorized by the Fund to accept such orders. If you call the Fund by 4:00 p.m. Eastern time (or 3:00 p.m. Eastern time on those days when the NAV is determined at 3:00 p.m. Eastern time) and send your payment by wire by the close of the Federal Reserve wire transfer system, you will be entitled to that day's dividend.

Send your wire to:

State Street Bank and Trust Company <br>Boston, MA <br>Dollar Amount of Wire <br>ABA Number 011000028 <br>BNF: 23026552 <br>Attention: Federated Hermes EDGEWIRE <br>Wire Order Number, Dealer Number or Group Number <br>Nominee/Institution Name <br>Fund Name and Number and Account Number

If the Fund does not receive your purchase wire by the close of the Federal Reserve wire transfer system on your designated settlement date, your purchase will be canceled and you could be liable for any losses or fees incurred by the Fund or SS&C GIDS, Inc., the Fund's transfer agent.

You cannot purchase Shares by wire on days when wire transfers are restricted, even if the NYSE is open on such days (for example, Columbus Day and Veterans Day). The Fund does not consider wire purchase requests received on such days to be in proper form, and will not process such requests.

**By Mail**

You may purchase Shares by sending your check payable to **The Federated Hermes Funds** at the following address:

The Federated Hermes Funds <br>P.O. Box 219318 <br>Kansas City, MO 64121-9318

If you send your check by a **private courier or overnight delivery service** that requires a street address, send it to:

The Federated Hermes Funds <br>430 W 7<sup>th</sup> Street <br>Suite 219318 <br>Kansas City, MO 64105-1407

**Please note your account number on your check.** Payment should be made in U.S. dollars and drawn on a U.S. bank. If your check does not clear, your purchase will be canceled and you could be liable for any losses or fees incurred by the Fund or SS&C GIDS, Inc., the Fund's transfer agent. The Fund reserves the right to reject **any** purchase request. For example, to protect against check fraud the Fund may reject any purchase request involving a check that is not made payable to **The Federated Hermes Funds** (including, but not limited to, requests to purchase Shares using third-party checks) or involving temporary checks or credit card checks.

Your order will be priced at the NAV next calculated after the Fund receives your check and you will be entitled to dividends beginning on the day the check is converted into federal funds (normally the business day after the check is received).

**By Direct Deposit**

You may establish Payroll Deduction/Direct Deposit arrangements for investments into the Fund by either calling a Client Service Representative at 1-800-341-7400; or by completing the Payroll Deduction/Direct Deposit Form, which is available on FederatedInvestors.com under "Resources" and then "Literature and Forms," then "Forms." You will receive a confirmation when this service is available.

**10**

------

**THROUGH AN EXCHANGE**

You may purchase Shares through an exchange from any Federated Hermes fund or share class that does not have a stated sales charge or contingent deferred sales charge, except shares of Federated Hermes Institutional Money Market Management, Federated Hermes Institutional Prime Obligations Fund, Federated Hermes Institutional Tax-Free Cash Trust, Federated Hermes Institutional Prime Value Obligations Fund, Class A Shares without a sales charge ("no-load Class A Shares") and Class R Shares of any Fund provided that you meet any shareholder eligibility and minimum initial investment requirements for the Shares to be purchased (if applicable), both accounts have identical registrations, and you must receive a prospectus for the fund in which you wish to exchange.

**By Online Account Services**

You may access your accounts online to purchase Shares through FederatedInvestors.com's Shareholder Account Access system once you have registered for access. Online transactions may be subject to certain limitations including limitations as to the amount of the transaction. For more information about the services available through Shareholder Account Access, please visit FederatedInvestors.com and select "Sign In" and "Access and Manage Investments," or call 1-800-341-7400, Option #4 to speak with a Client Service Representative.

**BY SYSTEMATIC INVESTMENT PROGRAM (SIP)**

Once you have opened an account, you may automatically purchase additional Shares on a regular basis by completing the SIP section of the New Account Form or by contacting the Fund or your financial intermediary. The minimum investment amount for SIPs is $50.

**BY AUTOMATED CLEARING HOUSE (ACH)**

Once you have opened an account, you may purchase additional Shares through a depository institution that is an ACH member. This purchase option can be established by completing the appropriate sections of the New Account Form.

**RETIREMENT INVESTMENTS**

You may purchase Shares as retirement investments (such as qualified plans and IRAs or transfer or rollover of assets). Call your financial intermediary or the Fund for information on retirement investments. We suggest that you discuss retirement investments with your tax adviser. You may be subject to an annual IRA account fee.

How to Redeem and Exchange Shares

You should redeem or exchange Shares:

◾ through a financial intermediary if you purchased Shares through a financial intermediary; or

◾ directly from the Fund if you purchased Shares directly from the Fund.

Redemption proceeds normally are wired or mailed within one business day for each method of payment after receiving a timely request in proper form. Depending upon the method of payment, when shareholders receive redemption proceeds can differ. Payment may be delayed for up to seven days under certain circumstances (see "Limitations on Redemption Proceeds").

For important account information, see the section "Security and Privacy Protection."

**THROUGH A FINANCIAL INTERMEDIARY**

Submit your redemption or exchange request to your financial intermediary. Financial intermediaries are responsible for promptly submitting redemption or exchange requests to the Fund by electronic means permitted by the Fund, or according to the instructions in the sections "By Telephone" or "By Mail" below.

If your financial intermediary submits your redemption or exchange request electronically, your request will be processed and your proceeds will be paid pursuant to operating procedures established by the Fund. If your financial intermediary submits your redemption or exchange request by telephone or by mail, your request will be processed and your proceeds will be paid as outlined in the section "By Telephone" or the section "By Mail" below.

If you deal with a financial intermediary, you will have to follow the financial intermediary's procedures for transacting with the Fund. For more information about how to redeem or exchange Shares through your financial intermediary, you should contact your financial intermediary directly.

**11**

------

**DIRECTLY FROM THE FUND**

**By Telephone**

You may redeem or exchange Shares by calling the Fund at 1-800-341-7400. Your redemption or exchange request will be priced at the NAV next calculated after the request is received by the Fund. Receipt of a redemption or exchange order by a financial intermediary will be deemed received by the Fund to the extent that such financial intermediary has been duly authorized by the Fund to accept such orders.

If you call the Fund by 4:00 p.m. Eastern time (or 3:00 p.m. Eastern time on those days when the NAV is determined at 3:00 p.m. Eastern time), and your redemption proceeds are wired to you the same day, you will not be entitled to that day's dividend.

If you call the Fund after 4:00 p.m. Eastern time (or 3:00 p.m. Eastern time on those days when the NAV is determined at 3:00 p.m. Eastern time), you will be entitled to that day's dividend and your redemption proceeds will be sent to you the following business day.

**By Mail**

You may redeem or exchange Shares by mailing a written request to the Fund.

Your redemption or exchange request will be priced at the NAV next calculated after the Fund receives your written request in proper form. If your redemption proceeds are wired to you the same day your order is priced, you will not be entitled to that day's dividend. If a check for your redemption proceeds is mailed to you on the next business day after your request is priced, you will be entitled to dividends through the day on which the Fund priced your request.

Send requests by mail to:

The Federated Hermes Funds <br>P.O. Box 219318 <br>Kansas City, MO 64121-9318

Send requests by **private courier or overnight delivery service** to:

The Federated Hermes Funds <br>430 W 7<sup>th</sup> Street <br>Suite 219318 <br>Kansas City, MO 64105-1407

All requests must include:

◾ Fund Name and Share Class, account number and account registration;

◾ amount to be redeemed or exchanged;

◾ signatures of all shareholders exactly as registered; and

◾ **if exchanging,** the Fund Name and Share Class, account number and account registration into which you are exchanging.

Call your financial intermediary or the Fund if you need special instructions.

**Signature Guarantees**

Signatures must be guaranteed by a financial institution which is a participant in a Medallion signature guarantee program if:

◾ your redemption will be sent to an address other than the address of record;

◾ your redemption will be sent to an address of record that was changed within the last 30 days;

◾ a redemption is payable to someone other than the shareholder(s) of record; or

◾ transferring into another fund with a different shareholder registration.

A Medallion signature guarantee is designed to protect your account from fraud. Obtain a Medallion signature guarantee from a bank or trust company, savings association, credit union or broker, dealer or securities exchange member. **A notary public cannot provide a signature guarantee.**

**By Online Account Services**

You may access your accounts online to redeem or exchange Shares through FederatedInvestors.com's Shareholder Account Access system once you have registered for access. Online transactions may be subject to certain limitations including limitations as to the amount of the transaction. For more information about the services available through Shareholder Account Access, please visit FederatedInvestors.com and select "Sign In" and "Access and Manage Investments," or call 1-800-341-7400, Option #4 to speak with a Client Service Representative.

**12**

------

**PAYMENT METHODS FOR REDEMPTIONS**

Your redemption proceeds will be mailed by check to your address of record. The following payment options are available if you complete the appropriate section of the New Account Form or an Account Service Options Form. These payment options require a signature guarantee if they were not established when the account was opened:

◾ An electronic transfer to your account at a financial institution that is an ACH member; or

◾ Wire payment to your account at a domestic commercial bank that is a Federal Reserve System member.

**Methods the Fund May Use to Meet Redemption Requests**

The Fund intends to pay Share redemptions in cash. To ensure that the Fund has cash to meet Share redemptions on any day, the Fund typically expects to hold a cash or cash equivalent reserve or sell portfolio securities.

In unusual or stressed circumstances, the Fund may generate cash in the following ways:

◾ **Inter-fund Borrowing and Lending.** The SEC has granted an exemption that permits the Fund and all other funds advised by subsidiaries of Federated Hermes ("Federated Hermes funds") to lend and borrow money for certain temporary purposes directly to and from other Federated Hermes funds. Inter-fund borrowing and lending is permitted only: (a) to meet shareholder redemption requests; (b) to meet commitments arising from "failed" trades; and (c) for other temporary purposes. All inter-fund loans must be repaid in seven days or less.

◾ **Redemption in Kind.** Although the Fund intends to pay Share redemptions in cash, it reserves the right to pay the redemption price in whole or in part by an "in-kind" distribution of the Fund's portfolio securities. Because the Fund has elected to be governed by Rule 18f-1 under the 1940 Act, the Fund is obligated to pay Share redemptions to any one shareholder in cash only up to the lesser of $250,000 or 1% of the net assets represented by such Share class during any 90-day period. Redemptions in kind are made consistent with the procedures adopted by the Fund's Board, which generally include distributions of a pro rata share of the Fund's portfolio assets. Redemption in kind is not as liquid as a cash redemption. If redemption is made in kind, securities received may be subject to market risk and the shareholder could incur taxable gains and brokerage or other charges in converting the securities to cash.

**LIMITATIONS ON REDEMPTION PROCEEDS** 

Redemption proceeds normally are wired or mailed within one business day after receiving a request in proper form. Payment may be delayed for up to seven days:

◾ to allow your purchase to clear (as discussed below);

◾ during periods of market volatility;

◾ when a shareholder's trade activity or amount adversely impacts the Fund's ability to manage its assets; or

◾ during any period when the Federal Reserve wire or applicable Federal Reserve banks are closed, other than customary weekend and holiday closings.

If you request a redemption of Shares recently purchased by check (including a cashier's check or certified check), money order, bank draft or ACH, your redemption proceeds may not be made available for up to seven calendar days to allow the Fund to collect payment on the instrument used to purchase such Shares. If the purchase instrument does not clear, your purchase order will be canceled and you will be responsible for any losses incurred by the Fund as a result of your canceled order.

In addition, the right of redemption may be suspended, or the payment of proceeds may be delayed, during any period:

◾ when the NYSE is closed, other than customary weekend and holiday closings;

◾ when trading on the NYSE is restricted, as determined by the SEC;

◾ in which an emergency exists, as determined by the SEC, so that disposal of the Fund's investments or determination of its NAV is not reasonably practicable; or

◾ in which there are emergency conditions, including liquidation of the Fund, as provided in Section 22(e), and rules thereunder, of the Investment Company Act of 1940.

Pursuant to rules under Section 22(e) of the 1940 Act, while it is unlikely that the Fund's weekly liquid assets would fall below 10% given the Fund's investment strategy and operation as a government money market fund, the Board, in its discretion, may suspend redemptions in the Fund and approve the liquidation of the Fund if the Fund's weekly liquid assets were to fall below 10% and the Board determines it would not be in the best interests of the Fund to continue operating. The Board also may suspend redemptions in the Fund and approve the liquidation of the Fund if the Board determines that the deviation between the Fund's amortized cost price per share and its market-based NAV may result in material dilution or other unfair results to investors or existing shareholders. Prior to suspending redemptions, the Fund would be required to notify the SEC of its decision to liquidate and suspend redemptions. If the Fund ceases honoring redemptions and determines to liquidate, the Fund expects that it would notify shareholders on the Fund's website or by press release. Distributions to shareholders of liquidation proceeds may occur in one or more disbursements.

**13**

------

You will not accrue interest or dividends on uncashed redemption checks from the Fund when checks are undeliverable and returned to the Fund.

**REDEMPTIONS FROM RETIREMENT ACCOUNTS**

In the absence of your specific instructions, 10% of the value of your redemption from a retirement account in the Fund may be withheld for taxes. This withholding only applies to certain types of retirement accounts.

**EXCHANGE PRIVILEGE**

You may exchange Shares of the Fund for shares of any Federated Hermes fund or share class that does not have a stated sales charge or contingent deferred sales charge, except shares of Federated Hermes Institutional Money Market Management, Federated Hermes Institutional Prime Obligations Fund, Federated Hermes Institutional Tax-Free Cash Trust, Federated Hermes Institutional Prime Value Obligations Fund, no-load Class A Shares and Class R Shares of any Fund.

To do this, you must:

◾ meet any applicable shareholder eligibility requirements;

◾ ensure that the account registrations are identical;

◾ meet any applicable minimum initial investment requirements; and

◾ receive a prospectus for the fund into which you wish to exchange.

An exchange is treated as a redemption and a subsequent purchase, and is a taxable transaction. The Fund reserves the right to reject any request to purchase or exchange Shares. The Fund may modify or terminate the exchange privilege at any time.

**Systematic Withdrawal/Exchange Program**

You may automatically redeem or exchange Shares. The minimum amount for all new or revised systematic redemptions or exchanges of Shares is $50 per transaction per fund. Complete the appropriate section of the New Account Form or an Account Service Options Form or contact your financial intermediary or the Fund. Your account value must meet the minimum initial investment amount at the time the program is established. This program may reduce, and eventually deplete, your account. Payments should not be considered yield or income.

**ADDITIONAL CONDITIONS**

**Telephone Transactions**

The Fund will record your telephone instructions. If the Fund does not follow reasonable procedures, it may be liable for losses due to unauthorized or fraudulent telephone instructions.

**Share Certificates**

The Fund no longer issues share certificates. If you are redeeming or exchanging Shares represented by certificates previously issued by the Fund, you must return the certificates with your written redemption or exchange request. For your protection, send your certificates by registered or certified mail, but do not endorse them.

Security and Privacy Protection

**ONLINE ACCOUNT and TELEPHONE ACCESS SECURITY**

Federated Hermes will not be responsible for losses that result from unauthorized transactions, unless Federated Hermes does not follow procedures designed to verify your identity. When initiating a transaction by telephone or online, shareholders should be aware that any person with access to your account and other personal information including PINs (Personal Identification Numbers) may be able to submit instructions by telephone or online. Shareholders are responsible for protecting their identity by using strong usernames and complex passwords which utilize combinations of mixed case letters, numbers and symbols, and change passwords and PINs frequently.

Using FederatedInvestors.com's Account Access website means you are consenting to sending and receiving personal financial information over the Internet, so you should be sure you are comfortable with the risks. You will be required to accept the terms of an online agreement and to establish and utilize a password in order to access online account services. The Transfer Agent has adopted security procedures to confirm that Internet instructions are genuine. The Transfer Agent will also send you written confirmation of share transactions. The Transfer Agent, the Fund and any of its affiliates will not be liable for losses or expenses that occur from fraudulent Internet instructions reasonably believed to be genuine.

**14**

------

The Transfer Agent or the Fund will employ reasonable procedures to confirm that telephone transaction requests are genuine, which may include recording calls, asking the caller to provide certain personal identification information, sending you written confirmation, or requiring other confirmation security procedures. The Transfer Agent, the Fund and any of its affiliates will not be liable for relying on instructions submitted by telephone that the Fund reasonably believes to be genuine.

**ANTI-MONEY LAUNDERING COMPLIANCE**

To help the government fight the funding of terrorism and money laundering activities, federal law requires financial institutions to obtain, verify and record information that identifies each new customer who opens a Fund account and to determine whether such person's name appears on governmental lists of known or suspected terrorists or terrorist organizations. Pursuant to the requirements under the USA PATRIOT Act, the information obtained will be used for compliance with the USA PATRIOT Act or other applicable laws, regulations and rules in connection with money laundering, terrorism or other illicit activities.

Information required includes your name, residential or business address, date of birth (for an individual), and other information that identifies you, including your social security number, tax identification number or other identifying number. The Fund cannot waive these requirements. The Fund is required by law to reject your Account Application if the required information is not provided. If, after reasonable effort, the Fund is unable to verify your identity or that of any other person(s) authorized to act on your behalf, or believes it has identified potentially suspicious, fraudulent or criminal activity, the Fund reserves the right to close your account and redeem your shares at the next calculated NAV without your permission. Any applicable contingent deferred sales charge (CDSC) will be assessed upon redemption of your shares.

The Fund has a strict policy designed to protect the privacy of your personal information. A copy of Federated Hermes' privacy policy notice was given to you at the time you opened your account. The Fund sends a copy of the privacy notice to you annually. You may also obtain the privacy notice by calling the Fund, or through FederatedInvestors.com.

Account and Share Information

**ACCOUNT ACTIVITY**

You will receive periodic statements reporting all account activity, including dividends paid by the Fund.

**DIVIDENDS AND CAPITAL GAINS**

The Fund declares any dividends daily and pays them monthly to shareholders.

From time to time, the Fund may realize capital gains or losses. If capital gains or losses were to occur, they could result in an increase or decrease in dividends. The Fund pays any capital gains at least annually, and may make such special distributions of dividends and capital gains as may be necessary to meet applicable regulatory requirements. Your dividends and capital gains distributions will be automatically reinvested in additional Shares without a sales charge, unless you elect cash payments. Dividends may also be reinvested without sales charges in shares of any class of any other Federated Hermes fund of which you are already a shareholder.

Important information regarding the Fund's distributions, including the percentage of the Fund's distributions that are attributable to capital gains during the calendar year (if any), is available via the link to the Fund and share class name at FederatedInvestors.com/FundInformation.

**Small Distributions and Uncashed Checks**

Generally, dividend and/or capital gain distributions payable by check in an amount of less than $25 will be automatically reinvested in additional shares. This policy does not apply if you have elected to receive cash distributions that are directly deposited into your bank account via wire or ACH.

Additionally, if one or more dividend or capital gain distribution checks are returned as "undeliverable," or remain uncashed for 180 days, all subsequent dividend and capital gain distributions will be reinvested in additional shares. No interest will accrue on amounts represented by uncashed distribution checks. For questions on whether reinvestment applies to your distributions, please contact a Client Service Representative at 1-800-341-7400.

Certain states, including the State of Texas, have laws that allow shareholders to designate a representative to receive abandoned or unclaimed property ("escheatment") notifications by completing and submitting a designation form that generally can be found on the official state website. If a shareholder resides in an applicable state, and elects to designate a representative to receive escheatment notifications, escheatment notices generally will be delivered as required by such

**15**

------

state laws, including, as applicable, to both the shareholder and the designated representative. A completed designation form may be mailed to the Fund (if Shares are held directly with the Fund) or to the shareholder's financial intermediary (if Shares are not held directly with the Fund). Shareholders should refer to relevant state law for the shareholder's specific rights and responsibilities under his or her state's escheatment law(s), which can generally be found on a state's official website.

**ACCOUNTS WITH LOW BALANCES**

Federated Hermes reserves the right to close accounts if redemptions or exchanges cause the account balance to fall below:

◾ $500,000 for the SS class

Before an account is closed, you will be notified and allowed at least 30 days to purchase additional Shares to meet the minimum.

**TAX INFORMATION**

The Fund and/or your financial intermediary provides year-end tax information and an annual statement of your account activity to assist you in completing your federal, state and local tax returns. Fund distributions of dividends and capital gains are taxable to you whether paid in cash or reinvested in the Fund. Dividends are taxable at different rates depending on the source of dividend income. Distributions of net short-term capital gains are taxable to you as ordinary income. Distributions of net long-term capital gains are taxable to you as long-term capital gains regardless of how long you have owned your Shares.

Fund distributions are expected to be primarily dividends. Redemptions and exchanges are taxable sales. Please consult your tax adviser regarding your federal, state and local tax liability.

**FREQUENT TRADING POLICIES**

Given the short-term nature of the Fund's investments and its use of the amortized cost method for calculating the NAV of Fund Shares, the Fund does not anticipate that in the normal case frequent or short-term trading into and out of the Fund will have significant adverse consequences for the Fund and its shareholders. For this reason and because the Fund is intended to be used as a liquid short-term investment, the Fund's Board has not adopted policies or procedures to monitor or discourage frequent or short-term trading of the Fund's Shares. Regardless of their frequency or short-term nature, purchases and redemptions of Fund Shares can have adverse effects on the management of the Fund's portfolio and its performance.

Other funds in the Federated Hermes family of funds may impose monitoring policies. Under normal market conditions, such monitoring policies are designed to protect the funds being monitored and their shareholders, and the operation of such policies and shareholder investments under such monitoring are not expected to have a materially adverse impact on the Federated Hermes funds or their shareholders. If you plan to exchange your Fund Shares for shares of another Federated Hermes fund, please read the prospectus of that other Federated Hermes fund for more information.

**PORTFOLIO HOLDINGS INFORMATION**

Information concerning the Fund's portfolio holdings is available via the link to the Fund and share class name at FederatedInvestors.com. Such information is posted on the website five business days after both mid-month and month-end then remains posted on the website for six months thereafter. Summary portfolio composition information as of the close of each month is posted on the website 15 days (or the next business day) after month-end and remains until replaced by the information for the succeeding month. The summary portfolio composition information may include percentage breakdowns of the portfolio by credit quality tier, portfolio composition and effective maturity range. The Fund's WAM and WAL, Shadow NAV (market-based value of the Fund's portfolio), Daily and Weekly Liquid Assets and Daily Flows are posted every business day and remain posted on the website for six months thereafter.

You may also access portfolio information via the link to the Fund and share class name at FederatedInvestors.com. The Fund's Annual and Semi-Annual Shareholder Reports contain complete listings of the Fund's portfolio holdings as of the end of the Fund's second and fourth fiscal quarters. These reports are also available on the SEC's website at sec.gov.

The Fund files with the SEC a complete schedule of its portfolio holdings as of the close of each month on "Form N-MFP." Form N-MFP is available on the SEC's website at sec.gov. You may access Form N-MFP via the link to the Fund and share class name at FederatedInvestors.com.

In addition, from time to time (for example, during periods of unusual market conditions), additional information regarding the Fund's portfolio holdings and/or composition may be posted to FederatedInvestors.com. If and when such information is posted, its availability will be noted on, and the information will be accessible from, the home page of the website.

**16**

------

Who Manages the Fund?

The Board governs the Fund. The Board selects and oversees the Adviser, Federated Investment Management Company. The Adviser manages the Fund's assets, including buying and selling portfolio securities. Federated Advisory Services Company (FASC), an affiliate of the Adviser, provides certain support services to the Adviser. The fee for these services is paid by the Adviser and not by the Fund.

The address of the Adviser and FASC is 1001 Liberty Avenue, Pittsburgh, PA 15222-3779.

The Adviser and other advisory subsidiaries of Federated Hermes combined, advise approximately 102 registered investment companies spanning equity, fixed-income and money market mutual funds and also manage a variety of other pooled investment vehicles, private investment companies and customized separately managed accounts (including non-U.S./offshore funds). Federated Hermes' assets under management totaled approximately $668.9 billion as of December 31, 2022. Federated Hermes was established in 1955 as Federated Investors, Inc. and is one of the largest investment managers in the United States with nearly 2,000 employees. Federated Hermes provides investment products to more than 11,000 investment professionals and institutions.

The Adviser advises approximately 73 registered investment companies and also manages sub-advised funds. The Adviser's assets under management totaled approximately $399.6 billion as of December 31, 2022.

**ADVISORY FEES**

The Fund's investment advisory contract provides for payment to the Adviser of an annual investment advisory fee of 0.20% of the Fund's average daily net assets. Under the investment advisory contract, which is subject to annual renewal by the Fund's Board of Trustees, the Adviser will reimburse the amount, limited to the amount of the advisory fee, by which the Fund's Institutional Shares aggregate annual operating expenses, including the investment advisory fee, but excluding interest, taxes, brokerage commissions, expenses of registering and qualifying the Fund and its Shares under federal and state laws and regulations, expenses of withholding taxes and extraordinary expenses, exceed 0.45% of the Fund's Institutional Shares average daily net assets. In addition, the Adviser may voluntarily waive a portion of its fee or reimburse the Fund for certain operating expenses. The Adviser and its affiliates have also agreed to certain "Fee Limits" as described in the footnote to the "Risk/Return Summary: Fees and Expenses" table found in the "Fund Summary" section of this Prospectus.

A discussion of the Board's review of the Fund's investment advisory contract is available in the Fund's Annual and Semi-Annual Shareholder Reports for the periods ended July 31 and January 31, respectively.

Financial Information

**[FINANCIAL HIGHLIGHTS TO BE UPDATED BY AMENDMENT]**

**FINANCIAL HIGHLIGHTS**

The Financial Highlights will help you understand the Fund's financial performance for its past five fiscal years. Some of the information is presented on a per Share basis. Total returns represent the rate an investor would have earned (or lost) on an investment in the Fund, assuming reinvestment of any dividends and capital gains.

As the SS class has not yet commenced operations, audited fiscal year end information is not available as of the date of this Prospectus.

The Financial Highlights information presented in this Prospectus is for the Fund's IS class and is for illustrative purposes only. Please note that the SS class is expected to have higher net expenses than the IS class. Therefore, the financial performance of the SS class may differ from the IS class accordingly.

This information has been audited by [To Be Filed by Amendment], an independent registered public accounting firm, whose report, along with the Fund's audited financial statements, is included in the Annual Report.

**17**

------

Financial Highlights–Institutional Shares

(For a Share Outstanding Throughout Each Period)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Year Ended July 31,** | **Year Ended July 31,** | **Year Ended July 31,** | **Year Ended July 31,** | **Year Ended July 31,** |
|  | **2022** | **2021** | **2020** | **2019** | **2018** |
| **Net Asset Value, Beginning of Period** | **$1.00** | **$1.00** | **$1.00** | **$1.00** | **$1.00** |
| **Income From Investment Operations:** |  |  |  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000<sup>1</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.021 | &nbsp;&nbsp;&nbsp;&nbsp; 0.012 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.000)<sup>1</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000<sup>1</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.000)<sup>1</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000<sup>1</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 0.000<sup>1</sup> <br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Total From Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.000<sup>1</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.021 | &nbsp;&nbsp;&nbsp;&nbsp; 0.012 |
| **Less Distributions:** |  |  |  |  |  |
| Distributions from net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.003) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.000)<sup>1</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.011) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.021) | &nbsp;&nbsp;&nbsp; (0.012) |
| Distributions from net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.000)<sup>1</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.000)<sup>1</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.000)<sup>1</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.000)<sup>1</sup> <br>| &nbsp;&nbsp;&nbsp; (0.000)<sup>1</sup> <br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.003) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.000)<sup>1</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.011) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.021) | &nbsp;&nbsp;&nbsp; (0.012) |
| **Net Asset Value, End of Period** | **$1.00** | **$1.00** | **$1.00** | **$1.00** | **$1.00** |
| **Total Return**<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.26% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.01% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.07% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.16% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25% |
| **Ratios to Average Net Assets:** |  |  |  |  |  |
| Net expenses<sup>3</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.12% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.13% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.20% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.20% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.20% |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.22% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.01% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.94% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.18% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.23% |
| Expense waiver/reimbursement<sup>4</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.18% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.17% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.11% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.11% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.13% |
| **Supplemental Data:** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $1134075 | $1464865 | $2334139 | $1344393 | $360889 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| 1 | *Represents less than $0.001.* |
| 2 | *Based on net asset value.* |
| 3 | *Amount does not reflect net expenses incurred by investment companies in which the Fund may invest.* |
| 4 | *This expense decrease is reflected in both the net expense and the net investment income ratios shown above. Amount does not reflect expense waiver/*<br> *reimbursement recorded by investment companies in which the Fund may invest.*<br>|

---

Further information about the Fund's performance is contained in the Fund's Annual Report, dated July 31, 2022, which can be obtained free of charge.

**18**

------

Appendix A: Hypothetical Investment and Expense Information

The following charts provide additional hypothetical information about the effect of the Fund's expenses, including investment advisory fees and other Fund costs, on the Fund's assumed returns over a 10-year period. The charts show the estimated expenses that would be incurred in respect of a hypothetical investment of $10,000, assuming a 5% return each year, and no redemption of Shares. Each chart also assumes that the Fund's annual expense ratio stays the same throughout the 10-year period and that all dividends and distributions are reinvested. The annual expense ratio used in each chart is the same as stated in the "Fees and Expenses" table of this Prospectus (and thus do not reflect any fee waiver or expense reimbursement currently in effect). The maximum amount of any sales charge that might be imposed on the *purchase* of Shares (and deducted from the hypothetical initial investment of $10,000; the "Front-End Sales Charge") is reflected in the "Hypothetical Expenses" column. The hypothetical investment information does not reflect the effect of charges (if any) normally applicable to *redemptions* of Shares (e.g., deferred sales charges, redemption fees). Mutual fund returns, as well as fees and expenses, may fluctuate over time, and your actual investment returns and total expenses may be higher or lower than those shown below.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **FEDERATED HERMES TRUST FOR U.S. TREASURY OBLIGATIONS - SS CLASS** | **FEDERATED HERMES TRUST FOR U.S. TREASURY OBLIGATIONS - SS CLASS** | **FEDERATED HERMES TRUST FOR U.S. TREASURY OBLIGATIONS - SS CLASS** | **FEDERATED HERMES TRUST FOR U.S. TREASURY OBLIGATIONS - SS CLASS** | **FEDERATED HERMES TRUST FOR U.S. TREASURY OBLIGATIONS - SS CLASS** | |
| **ANNUAL EXPENSE RATIO: 0.55%** | **ANNUAL EXPENSE RATIO: 0.55%** | **ANNUAL EXPENSE RATIO: 0.55%** | **ANNUAL EXPENSE RATIO: 0.55%** | **ANNUAL EXPENSE RATIO: 0.55%** | |
| **MAXIMUM FRONT-END SALES CHARGE: NONE** | **MAXIMUM FRONT-END SALES CHARGE: NONE** | **MAXIMUM FRONT-END SALES CHARGE: NONE** | **MAXIMUM FRONT-END SALES CHARGE: NONE** | **MAXIMUM FRONT-END SALES CHARGE: NONE** | |
| **Year** | **Hypothetical**<br> **Beginning** <br> **Investment**<br>| **Hypothetical** <br> **Performance** <br> **Earnings**<br>| **Investment** <br> **After**<br> **Returns**<br>| **Hypothetical** <br> **Expenses**<br>| <br>**Hypothetical** <br> **Ending**<br> **Investment**<br>|
| 1 | $10000.00  | &nbsp;&nbsp; $500.00  | $10500.00  | &nbsp;&nbsp; $56.22  | $10445.00  |
| 2 | $10445.00  | &nbsp;&nbsp; $522.25  | $10967.25  | &nbsp;&nbsp; $58.73  | $10909.80  |
| 3 | $10909.80  | &nbsp;&nbsp; $545.49  | $11455.29  | &nbsp;&nbsp; $61.34  | $11395.29  |
| 4 | $11395.29  | &nbsp;&nbsp; $569.76  | $11965.05  | &nbsp;&nbsp; $64.07  | $11902.38  |
| 5 | $11902.38  | &nbsp;&nbsp; $595.12  | $12497.50  | &nbsp;&nbsp; $66.92  | $12432.04  |
| 6 | $12432.04  | &nbsp;&nbsp; $621.60  | $13053.64  | &nbsp;&nbsp; $69.90  | $12985.27  |
| 7 | $12985.27  | &nbsp;&nbsp; $649.26  | $13634.53  | &nbsp;&nbsp; $73.01  | $12563.11  |
| 8 | $13563.11  | &nbsp;&nbsp; $678.16  | $14241.27  | &nbsp;&nbsp; $76.26  | $14166.67  |
| 9 | $14166.67  | &nbsp;&nbsp; $708.33  | $14875.00  | &nbsp;&nbsp; $79.65  | $14797.09  |
| 10 | $14797.09  | &nbsp;&nbsp; $739.85  | $15536.94  | &nbsp;&nbsp; $83.19  | $15455.56  |
| Cumulative |  | $6129.82  |  | $689.29  |  |

---

**19**

------

An SAI dated [June __, 2023], is incorporated by reference into this Prospectus. Additional information about the Fund and its investments is contained in the Fund's SAI and Annual and Semi-Annual Reports to shareholders as they become available. The SAI contains a description of the Fund's policies and procedures with respect to the disclosure of its portfolio securities. To obtain the SAI, Annual Report, Semi-Annual Report and other information without charge, and to make inquiries, call your financial intermediary or the Fund at 1-800-341-7400.

The Fund's shareholder reports will be made available on FederatedInvestors.com/FundInformation, and you will be notified and provided with a link each time a report is posted to the website. You may request to receive paper reports from the Fund or from your financial intermediary, free of charge, at any time. You may also request to receive documents through e-delivery.

These documents, as well as additional information about the Fund (including portfolio holdings, performance and distributions), are also available on FederatedInvestors.com.

You can obtain information about the Fund (including the SAI) by accessing Fund information from the EDGAR Database on the SEC's website at sec.gov. You can purchase copies of this information by contacting the SEC by email at publicinfo@sec.gov.

![](fhilogok11p.jpg)

Federated Hermes Trust for U.S. Treasury Obligations <br>Federated Hermes Funds <br>4000 Ericsson Drive <br>Warrendale, PA 15086-7561

Contact us at  **<u>FederatedInvestors.com</u>** <br>or call 1-800-341-7400.

Federated Securities Corp., Distributor

*Investment Company Act File No. 811-5950*

*CUSIP 31423R864*

*Q455905 (6/23)*© 2023 Federated Hermes, Inc.

------

**Statement of Additional Information** 

***[June __, 2023]***![](img6a8ce02e1.gif)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Share Class** \| Ticker | **Service** \| TBD |

---

------

Federated Hermes Trust for U.S. Treasury Obligations

------

A Portfolio of Federated Hermes Money Market Obligations Trust

This Statement of Additional Information (SAI) is not a Prospectus. Read this SAI in conjunction with the Prospectus for Federated Hermes Trust for U.S. Treasury Obligations (the "Fund"), dated [June __, 2023].

This SAI incorporates by reference the Fund's Annual Report. Obtain the Prospectus or the Annual Report without charge by calling 1-800-341-7400.

**A Registration Statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. Information contained herein is subject to completion or amendment. These securities may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. This Statement of Additional Information is not an offer to sell these securities and is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.** 

---

| | |
|:---|:---|
|  | **Contents** |
| &nbsp;&nbsp; 1 | [How is the Fund Organized?](#xx_9e8625b9-e765-4f74-9b1c-062752b9a0d1_1)  |
| &nbsp;&nbsp; 1 | [Securities in Which the Fund Invests](#xx_9e8625b9-e765-4f74-9b1c-062752b9a0d1_1)  |
| &nbsp;&nbsp; 2 | [Investment Risks](#xx_9e8625b9-e765-4f74-9b1c-062752b9a0d1_2)  |
| &nbsp;&nbsp; 4 | [Investment Objective (and Policies) and Investment Limitations](#xx_9e8625b9-e765-4f74-9b1c-062752b9a0d1_4)  |
| &nbsp;&nbsp; 6 | [What Do Shares Cost?](#xx_9e8625b9-e765-4f74-9b1c-062752b9a0d1_6)  |
| &nbsp;&nbsp; 7 | [How is the Fund Sold?](#xx_9e8625b9-e765-4f74-9b1c-062752b9a0d1_7)  |
| &nbsp;&nbsp; 9 | [Purchases In-Kind](#xx_9e8625b9-e765-4f74-9b1c-062752b9a0d1_9)  |
| &nbsp;&nbsp; 9 | [Redemption In-Kind](#xx_9e8625b9-e765-4f74-9b1c-062752b9a0d1_9)  |
| &nbsp;&nbsp; 9 | [Massachusetts Partnership Law](#xx_9e8625b9-e765-4f74-9b1c-062752b9a0d1_9)  |
| &nbsp;&nbsp; 9 | [Share Information](#xx_9e8625b9-e765-4f74-9b1c-062752b9a0d1_9)  |
| 10 | [Tax Information](#xx_9e8625b9-e765-4f74-9b1c-062752b9a0d1_10)  |
| 10 | [Who Manages and Provides Services to the Fund?](#xx_9e8625b9-e765-4f74-9b1c-062752b9a0d1_10)  |
| 23 | [Financial Information](#xx_9e8625b9-e765-4f74-9b1c-062752b9a0d1_23)  |
| 24 | [Addresses](#xx_aac10e35-34b6-46f0-a983-5836803fbd10_1)  |
| 25 | [Appendix](#xx_487c2e3d-d5b9-478a-8650-fb72d2d279cf_1) |

---

Federated Hermes Trust for U.S. Treasury Obligations <br>Federated Hermes Funds <br>4000 Ericsson Drive <br>Warrendale, PA 15086-7561

Contact us at **FederatedInvestors.com** <br>or call 1-800-341-7400.

Federated Securities Corp., Distributor

*Q455904 (6/23)*© 2023 Federated Hermes, Inc.

------

How is the Fund Organized?

The Fund is a diversified portfolio of Federated Hermes Money Market Obligations Trust ("Trust"). The Trust is an open-end, management investment company that was established under the laws of the Commonwealth of Massachusetts on October 3, 1988. The Trust may offer separate series of shares representing interests in separate portfolios of securities. The Fund, which was established on July 29, 1979, was reorganized as a portfolio of the Trust on April 30, 1999.

The Board of Trustees ("Board") has established four classes of shares of the Fund, known as Institutional Shares, Cash Series Shares, Cash II Shares and Service Shares. Effective June 2, 2015, the Fund's original shares were redesignated as Institutional Shares and Cash II Shares and Cash Series Shares were added to the Fund. This SAI relates to Service Shares.

The Fund's investment adviser is Federated Investment Management Company ("Adviser"). Effective June 26, 2020, the Trust changed its name from Money Market Obligations Trust to Federated Hermes Money Market Obligations Trust, and the Fund changed its name from Federated Trust for U.S. Treasury Obligations to Federated Hermes Trust for U.S. Treasury Obligations.

Securities in Which the Fund Invests

The Fund invests in a portfolio of U.S. Treasury securities maturing in 397 days or less and repurchase agreements collateralized fully by U.S. Treasury securities. The Fund may also hold cash. The principal securities or other investments in which the Fund invests are described in the Fund's Prospectus. The Fund also may invest in securities or other investments as non-principal investments for any purpose that is consistent with its investment objective. The following information is either additional information in respect of a principal security or other investment referenced in the Prospectus or information in respect of a non-principal security or other investment (in which case there is no related disclosure in the Prospectus).

**Securities Descriptions And Techniques**

**Fixed-Income Securities**

Fixed-income securities pay interest, dividends or distributions at a specified rate. The rate may be a fixed percentage of the principal or adjusted periodically. In addition, the issuer of a fixed-income security must repay the principal amount of the security, normally within a specified time. Fixed-income securities provide more regular income than equity securities. However, the returns on fixed-income securities are limited and normally do not increase with the issuer's earnings. This limits the potential appreciation of fixed-income securities as compared to equity securities.

A security's yield measures the annual income earned on a security as a percentage of its price. A security's yield will increase or decrease depending upon whether it costs less (a "discount") or more (a "premium") than the principal amount. If the issuer may redeem the security before its scheduled maturity, the price and yield on a discount or premium security may change based upon the probability of an early redemption. Securities with higher risks generally have higher yields.

**Zero-Coupon Securities (A Fixed-Income Security)**

Certain U.S. Treasury securities in which the Fund invests may be zero-coupon securities. Zero-coupon securities do not pay interest or principal until final maturity, unlike debt securities that provide periodic payments of interest (referred to as a "coupon payment"). Investors buy zero-coupon securities at a price below the amount payable at maturity. The difference between the purchase price and the amount paid at maturity represents interest on the zero-coupon security. Investors must wait until maturity to receive interest and principal, which increases the interest rate and credit risks of a zero-coupon security.

**Callable Securities (A Fixed-Income Security)**

Certain U.S. Treasury securities in which the Fund invests are callable at the option of the issuer. Callable securities are subject to call risks.

**Other Investments, Transactions, Techniques**

**Reverse Repurchase Agreements**

Reverse repurchase agreements (which are considered a type of special transaction for asset segregation or asset coverage purposes) are repurchase agreements in which the Fund is the seller (rather than the buyer) of the securities, and agrees to repurchase them at an agreed-upon time and price. A reverse repurchase agreement may be viewed as a type of borrowing by the Fund. Reverse repurchase agreements are subject to credit risks. In addition, reverse repurchase agreements create leverage risks because the Fund must repurchase the underlying security at a higher price, regardless of the market value of the security at the time of repurchase.

**1**

------

**Delayed Delivery Transactions**

Delayed delivery transactions, including when issued transactions, are arrangements in which the Fund buys securities for a set price, with payment and delivery of the securities scheduled for a future time. During the period between purchase and settlement, no payment is made by the Fund to the issuer and no interest accrues to the Fund. The Fund records the transaction when it agrees to buy the securities and reflects their value in determining the price of its shares. Settlement dates may be a month or more after entering into these transactions so that the market values of the securities bought may vary from the purchase prices. Therefore, delayed delivery transactions create interest rate risks for the Fund. Delayed delivery transactions also involve credit risks in the event of a counterparty default.

**Asset Segregation**

In order to secure its obligations in connection with special transactions, such as reverse repurchase agreements or when issued and delayed delivery transactions, the Fund will either enter into offsetting transactions or set aside readily marketable securities in each case, as provided by the SEC or SEC staff guidance. Unless the Fund has other readily marketable assets to set aside, it cannot trade assets used to secure such obligations without terminating a special transaction. This may cause the Fund to miss favorable trading opportunities or to realize losses on special transactions.

**Inter-Fund Borrowing AND Lending Arrangements**

The Securities and Exchange Commission (SEC) has granted an exemption that permits the Fund and all other funds ("Federated Hermes funds") advised by subsidiaries of Federated Hermes, Inc., ("Federated Hermes," formerly, Federated Investors, Inc.) to lend and borrow money for certain temporary purposes directly to and from other Federated Hermes funds. Participation in this inter-fund lending program is voluntary for both borrowing and lending Federated Hermes funds, and an inter-fund loan is only made if it benefits each participating Federated Hermes fund. Federated Hermes administers the program according to procedures approved by the Fund's Board, and the Board monitors the operation of the program. Any inter-fund loan must comply with certain conditions set out in the exemption, which are designed to assure fairness and protect all participating Federated Hermes funds.

For example, inter-fund lending is permitted only: (a) to meet shareholder redemption requests; (b) to meet commitments arising from "failed" trades; and (c) for other temporary purposes. All inter-fund loans must be repaid in seven days or less. The Fund's participation in this program must be consistent with its investment policies and limitations, and must meet certain percentage tests. Inter-fund loans may be made only when the rate of interest to be charged is more attractive to the lending Federated Hermes fund than market-competitive rates on overnight repurchase agreements ("Repo Rate") *and* more attractive to the borrowing Federated Hermes fund than the rate of interest that would be charged by an unaffiliated bank for short-term borrowings ("Bank Loan Rate"), as determined by the Board. The interest rate imposed on inter-fund loans is the average of the Repo Rate and the Bank Loan Rate.

Investment Risks

There are many risk factors which may affect an investment in the Fund. The Fund's principal risks are described in its Prospectus. The following information is either additional information in respect of a principal risk factor referenced in the Prospectus or information in respect of a non-principal risk factor applicable to the Fund (in which case there is no related disclosure in the Prospectus).

**liquidity Risk**

Liquidity risk is the risk that the Fund will experience significant net redemptions of Fund Shares at a time when it cannot find willing buyers for its portfolio securities or can only sell its portfolio securities at a material loss. An inability to sell portfolio securities may result from adverse market developments or investor perceptions regarding the portfolio securities. While the Fund endeavors to maintain a high level of liquidity in its portfolio so that it can satisfy redemption requests, the Fund's ability to sell portfolio securities can deteriorate rapidly due to credit events affecting particular issuers or credit enhancement providers, or due to general market conditions and a lack of willing buyers.

**leverage Risk**

Leverage risk is created when an investment exposes the Fund to a level of risk that exceeds the amount invested. Changes in the value of such an investment magnify the Fund's risk of loss and potential for gain.

**Call Risk**

Call risk is the possibility that an issuer may redeem a U.S. Treasury security before maturity (a "call") at a price below its current market price. An increase in the likelihood of a call may reduce the security's price.

**2**

------

If a U.S. Treasury security is called, the Fund may have to reinvest the proceeds in other U.S. Treasury fixed-income securities with lower interest rates or other less favorable characteristics.

**Risk Associated with the Investment Activities of Other Accounts**

Investment decisions for the Fund are made independently from those of other accounts managed by the Adviser and accounts managed by affiliates of the Adviser. Therefore, it is possible that investment-related actions taken by such other accounts could adversely impact the Fund with respect to, for example, the value of Fund portfolio holdings, and/or prices paid to or received by the Fund on its portfolio transactions, and/or the Fund's ability to obtain or dispose of portfolio securities. Related considerations are discussed elsewhere in this SAI under "Brokerage Transactions and Investment Allocation."

**LARGE SHAREHOLDER RISK**

A significant percentage of the Fund's shares may be owned or controlled by a large shareholder, such as other funds or accounts, including those of which the Adviser or an affiliate of the Adviser may have investment discretion. Accordingly, the Fund can be subject to the potential for large scale inflows and outflows as a result of purchases and redemptions made by significant shareholders. These inflows and outflows could be significant and, if frequently occurring, could negatively affect the Fund's net asset value and performance and could cause the Fund to buy or sell securities at inopportune times in order to meet purchase or redemption requests. Investments in the Fund by other investment companies also can create conflicts of interests for the Adviser to the Fund and the investment adviser to the acquiring fund. For example, a conflict of interest can arise due to the possibility that the investment adviser to the acquiring fund could make a decision to redeem the acquiring fund's investment in the Fund. In the case of an investment by an affiliated fund, a conflict of interest can arise if, because of the acquiring fund's investment in the Fund, the Fund is able to garner more assets from third-party investors, thereby growing the Fund and increasing the management fees received by the Adviser, which could also be the investment adviser to the acquiring fund.

**CYBERSECURITY AND OPERATIONAL RISK**

Like other funds and business enterprises, Federated Hermes' business relies on the security and reliability of information and communications technology, systems and networks. Federated Hermes uses digital technology, including, for example, networked systems, email and the Internet, as well as mobile devices and "cloud"-based service offerings, to conduct business operations and engage clients, customers, employees, products, accounts, shareholders and relevant service providers, among others. Federated Hermes, as well as its funds and certain service providers, also generate, compile and process information for purposes of preparing and making filings or reports to governmental agencies, or providing reports or statements to customers, and a cybersecurity attack or incident that impacts that information, or the generation and filing processes, can prevent required regulatory filings and reports from being made, or reports or statements from being delivered, or cause the inadvertent release of confidential information (possibly resulting in the violation of applicable privacy laws). The use of the Internet and other electronic media and technology exposes the Fund, the Fund's shareholders, and the Fund's service providers, and their respective operations, to potential risks from cybersecurity attacks or incidents (collectively, "cyber-events"). The work-from-home environment necessitated by the novel coronavirus ("COVID-19") pandemic has increased the risk of cyber incidents given the increase in cyber attack surface stemming from the use of personal devices and non-office or personal technology.

Cyber-events can result from intentional (or deliberate) attacks or unintentional events by insiders (e.g., employees) or third parties, including cybercriminals, competitors, nation-states and "hacktivists," among others. Cyber-events can include, for example, phishing, credential harvesting or use of stolen access credentials, unauthorized access to systems, networks or devices (such as, for example, through "hacking" activity), structured query language attacks, infection from or spread of malware, ransomware, computer viruses or other malicious software code, corruption of data, exfiltration of data to malicious sites, the dark web or other locations or threat actors, and attacks (including, but not limited to, denial of service attacks on websites) which shut down, disable, slow, impair or otherwise disrupt operations, business processes, technology, connectivity or website or Internet access, functionality or performance. Like other funds and business enterprises, the Fund and its service providers have experienced, and will continue to experience, cyber-events on a daily basis. In addition to intentional cyber-events, unintentional cyber-events can occur, such as, for example, the inadvertent release of confidential information. Cyber-events can also be carried out in a manner that does not require gaining unauthorized access, such as causing denial-of-service attacks on the service providers' systems or websites rendering them unavailable to intended users or via "ransomware" that renders the systems inoperable until appropriate actions are taken. To date, cyber-events have not had a material adverse effect on the Fund's business operations or performance.

**3**

------

Cyber-events can affect, potentially in a material way, Federated Hermes' relationships with its customers, employees, products, accounts, shareholders and relevant service providers. Any cyber-event could adversely impact the Fund and its shareholders and cause the Fund to incur financial loss and expense, as well as face exposure to regulatory penalties, reputational damage, damage to employee perceptions of the company, and additional compliance costs associated with corrective measures and credit monitoring for impacted individuals. A cyber-event can cause the Fund, or its service providers, to lose proprietary information, suffer data corruption, lose operational capacity (such as, for example, the loss of the ability to process transactions, generate or make filings or deliver reports or statements, calculate the Fund's NAV, or allow shareholders to transact business or other disruptions to operations), and/or fail to comply with applicable privacy and other laws. Among other potentially harmful effects, cyber-events also can result in theft, unauthorized monitoring and failures in the physical infrastructure or operating systems that support the Fund and its service providers. In addition, cyber-events affecting issuers in which the Fund invests could cause the Fund's investments to lose value.

The Fund's Adviser and its relevant affiliates have established risk management systems reasonably designed to seek to reduce the risks associated with cyber-events. The Fund's Adviser employs various measures aimed at mitigating cybersecurity risk, including, among others, use of firewalls, system segmentation, system monitoring, virus scanning, periodic penetration testing, employee phishing training and an employee cybersecurity awareness campaign. Among other service provider management efforts, Federated Hermes also conducts due diligence on key service providers relating to cybersecurity. Federated Hermes has established a committee to oversee Federated Hermes' information security and data governance efforts, and updates on cyber-events and risks are reviewed with relevant committees, as well as Federated Hermes' and the Fund's Boards of Directors or Trustees (or a committee thereof), on a periodic (generally quarterly) basis (and more frequently when circumstances warrant) as part of risk management oversight responsibilities. However, there is no guarantee that the efforts of Federated Hermes, the Fund's Adviser or its affiliates, or other service providers, will succeed, either entirely or partially as there are limits on Federated Hermes' and the Fund's ability to prevent, detect or mitigate cyber-events. Among other reasons, the cybersecurity landscape is constantly evolving, the nature of malicious cyber-events is becoming increasingly sophisticated and the Fund's Adviser, and its relevant affiliates, cannot control the cyber systems and cybersecurity systems of issuers or third-party service providers.

The Fund can be exposed to operational risk arising from a number of factors, including, but not limited to, human error, processing and communication errors, errors of the Fund's service providers, counterparties, or other third parties, failed or inadequate processes and technology or system failures. In addition, other disruptive events, including, but not limited to, natural disasters and public health crises (such as the COVID-19 pandemic), can adversely affect the Fund's ability to conduct business, in particular if the Fund's employees or the employees of its service providers are unable or unwilling to perform their responsibilities as a result of any such event. Even if the Fund's employees and the employees of its service providers are able to work remotely, those remote work arrangements could result in the Fund's business operations being less efficient than under normal circumstances, could lead to delays in its processing of transactions, and could increase the risk of cyber-events.

Investment Objective (and Policies) and Investment Limitations

The Fund's investment objective is stability of principal and current income consistent with stability of principal.

"U.S. Treasury obligations" refers to instruments which are issued or guaranteed as to principal and interest by the U.S. Treasury and therefore constitute obligations of the United States of America. U.S. Treasury obligations include such instruments as: (i) U.S. Treasury bills, notes and bonds; and (ii) instruments of the Export-Import Bank of the U.S., the General Services Administration, the Small Business Administration and the Washington Metropolitan Area Transit Authority, <u>maturing</u> <u>in 13 months or less</u> from the date of acquisition or purchased pursuant to repurchase agreements which provide for repurchase by the seller <u>within 13 months</u> from the date of acquisition. The Fund may also purchase U.S. Treasury obligations on a when-issued or delayed delivery basis.

The Fund may attempt to increase yield by trading portfolio securities to take advantage of short-term market variations.

The investment objective and policies may not be changed by the Fund's Board without shareholder approval, except that the underlined portions of the above policy may be changed without shareholder approval.

**INVESTMENT LIMITATIONS** 

**Lending** 

The Fund may not make loans, provided that this restriction does not prevent the Fund from purchasing debt obligations, entering into repurchase agreements, lending its assets to broker/dealers or institutional investors and investing in loans, including assignments and participation interests.

**4**

------

**Borrowing Money**

The Fund will not borrow money except as a temporary measure for extraordinary or emergency purposes and then: (a) only in amounts not in excess of 5% of the value of its total assets; or (b) in an amount up to one-third of the value of its total assets including the amount borrowed, in order to meet redemption requests without immediately selling any portfolio instruments (any such borrowings under this section will not be collateralized). This borrowing provision is not for investment leverage but solely to facilitate management of the portfolio by enabling the Fund to meet redemption requests where liquidation of portfolio instruments is deemed to be inconvenient or disadvantageous. Interest paid by the Fund on borrowed funds will not be available for investment.

**Issuing Senior Securities**

The Fund may issue senior securities to the maximum extent: (1) permitted under the Investment Company Act of 1940; and (2) consistent with the Fund's investment limitations set forth herein.

**Diversification**

The Fund is a "diversified company" within the meaning of the Investment Company Act of 1940, as amended, ("1940 Act") and any rules, regulations, or interpretations thereunder.

**Underwriting**

The Fund will not underwrite any issue of securities, except as it may be deemed to be an underwriter under the Securities Act of 1933 in connection with the sale of securities in accordance with its investment objective, policies and limitations.

**Investing in Real Estate**

The Fund may not purchase or sell real estate, provided that this restriction does not prevent the Fund from investing in issuers which invest, deal or otherwise engage in transactions in real estate or interests therein, or investing in securities that are secured by real estate or interests therein. The Fund may exercise its rights under agreements relating to such securities, including the right to enforce security interests and to hold real estate acquired by reason of such enforcement until that real estate can be liquidated in an orderly manner.

**Investing in Commodities**

The Fund may not purchase or sell physical commodities, provided that the Fund may purchase securities of companies that deal in commodities.

**Concentration**

The Fund will not make investments that will result in the concentration of its investments in the securities of issuers primarily engaged in the same industry. Government securities, municipal securities and bank instruments will not be deemed to constitute an industry.

**The above limitations cannot be changed unless authorized by the Board and by the "vote of a majority of the Fund's outstanding voting securities," as defined by the 1940 Act. The following limitations, however, may be changed by the Board without shareholder approval. Shareholders will be notified before any material change in these limitations becomes effective.**

**Illiquid Securities**

The Fund will not acquire securities that cannot be sold or disposed of in the ordinary course of business within seven days at approximately the value ascribed to them by the Fund if, immediately after the acquisition, the Fund would have invested more than 5% of its total assets in such securities.

**Purchases on Margin**

The Fund will not purchase any portfolio instruments on margin but may obtain such short-term credits as may be necessary for clearance of purchases and sales of portfolio instruments.

**Pledging Assets**

The Fund will not mortgage, pledge or hypothecate assets except as necessary to secure permitted borrowings. In those cases, it may pledge assets having a market value not exceeding the lesser of the dollar amounts borrowed or 10% of the value of the total assets at the time of the pledge.

**Selling Short**

The Fund will not sell any portfolio instruments short.

**5**

------

**Additional Information**

Except with respect to borrowing money, if a percentage limitation is adhered to at the time of investment, a later increase or decrease in percentage resulting from any change in value or net assets will not result in a violation of such limitation.

**Additional Non-Fundamental Policy**

The Fund will operate as a "government money market fund," as such term is defined in or interpreted under Rule 2a-7 under the 1940 Act. "Government money market funds" are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are collateralized fully. Government money market funds are exempt from requirements that permit money market funds to impose a liquidity fee and/or temporary redemption gates.

**Non-Fundamental Names Rule Policy**

The Fund will invest its assets so that at least 80% of its net assets (plus any borrowings for investment purposes) are invested in U.S. Treasury investments. The Fund will notify shareholders at least 60 days in advance of any change in its investment policy that would enable the Fund to invest, under normal circumstances, less than 80% of its net assets (plus any borrowings for investment purposes) in U.S. Treasury investments.

**REGULATORY COMPLIANCE**

The Fund may follow non-fundamental operational policies that are more restrictive than its fundamental investment limitations, as set forth in the Prospectus and this SAI, in order to comply with applicable laws and regulations, including the provisions of and regulations under the 1940 Act. In particular, the Fund will comply with the various requirements of Rule 2a-7 (the "Rule"), which regulates money market mutual funds. The Fund may change these operational policies to reflect changes in the laws and regulations without the approval of its shareholders.

Because the Fund operates as a money market fund and seeks to maintain a stable $1.00 price per share, a low or negative interest rate environment could impact the Fund's ability to maintain a stable $1.00 share price. During a low or negative interest rate environment, the Fund may reduce the number of shares outstanding on a pro rata basis through reverse stock splits, negative dividends or other mechanisms to seek to maintain a stable $1.00 price per share, to the extent permissible by applicable law and the Fund's organizational documents. Alternatively, if the Board determines that it is no longer in the best interests of the Fund and its shareholders to maintain a stable price of $1.00 per share, the Board has the right to discontinue the use of a stable NAV of $1.00 per share and establish a fluctuating NAV per share rounded to four decimal places. Depending on the specific measure(s) taken, these measures would result in shareholders not receiving a dividend, holding fewer shares of the Fund and/or experiencing a loss in the aggregate value of their investment in the Fund. The Fund will notify shareholders of any such change.

What Do Shares Cost?

**Determining Market Value Of Securities**

The Board has decided that the best method for determining the value of portfolio instruments is amortized cost. The amortized cost method of valuation generally prescribes that an investment is valued at its acquisition cost as adjusted daily for amortization of premium or accretion of discount to the specified redemption value on the nearest call, demand or maturity date, as appropriate. The Fund uses this adjusted cost to value the investment.

Accordingly, neither the amount of daily income nor the net asset value (NAV) is affected by any unrealized appreciation or depreciation of the portfolio. In periods of declining interest rates, the indicated daily yield on Shares of the Fund, computed by dividing the annualized daily income on the Fund's portfolio by the NAV, computed as above, may tend to be higher than a similar computation made by using a method of valuation based upon market prices and estimates. In periods of rising interest rates, the opposite may be true. A low or negative interest rate environment impacts, in a negative way, the Fund's ability to provide a positive return, or yield, to its shareholders, pay expenses out of current income, and/or achieve its investment objective, including maintaining a stable NAV of $1.00 per share.

The Fund's use of the amortized cost method of valuing portfolio instruments depends on its compliance with certain conditions in the Rule. Under the Rule, the Board must establish procedures reasonably designed to stabilize the NAV per Share, as computed for purposes of distribution and redemption, at $1.00 per Share, taking into account current market conditions and the Fund's investment objective. The procedures include monitoring the relationship between the amortized cost value per Share and the NAV per Share based upon available indications of market value. The Board will decide what, if any, steps should be taken if there is a difference of more than 0.5 of 1% between the two values. The Board will take any steps it considers appropriate (such as redemption in-kind or shortening the average portfolio maturity) to minimize any material dilution or other unfair results arising from differences between the two methods of determining NAV.

**6**

------

How is the Fund Sold?

Under the Distributor's Contract with the Fund, the Distributor ("Federated Securities Corp.") offers Shares on a continuous, best-efforts basis.

**Additional Payments To Financial Intermediaries**

The Distributor may pay out of its own resources amounts to certain financial intermediaries, including broker-dealers, banks, registered investment advisers, independent financial planners and retirement plan administrators. In some cases, such payments may be made by, or funded from the resources of, companies affiliated with the Distributor (including the Adviser). While Financial Industry Regulatory Authority, Inc. (FINRA) regulations limit the sales charges that you may bear, there are no limits with regard to the amounts that the Distributor may pay out of its own resources. In addition to the payments which are generally described herein and in the Prospectus, the financial intermediary also may receive Service Fees. In connection with these payments, the financial intermediary may elevate the prominence or profile of the Fund and/or other Federated Hermes funds within the financial intermediary's organization by, for example, placement on a list of preferred or recommended funds and/or granting the Distributor preferential or enhanced opportunities to promote the funds in various ways within the financial intermediary's organization. The same financial intermediaries may receive payments under more than one or all categories. These payments assist in the Distributor's efforts to support the sale of Shares. These payments are negotiated and may be based on such factors as: the number or value of Shares that the financial intermediary sells or may sell; the value of client assets invested; the level and types of services or support furnished by the financial intermediary; or the Fund's and/or other Federated Hermes funds' relationship with the financial intermediary. Not all financial intermediaries receive such payments and the amount of compensation may vary by intermediary. You should ask your financial intermediary for information about any payments it receives from the Distributor or the Federated Hermes funds and any services it provides, as well as the fees and/or commissions it charges.

The categories of additional payments are described below.

**Supplemental Payments**

The Distributor may make supplemental payments to certain financial intermediaries that are holders or dealers of record for accounts in one or more of the Federated Hermes funds. These payments may be based on such factors as: the number or value of Shares the financial intermediary sells or may sell; the value of client assets invested; or the type and nature of services or support furnished by the financial intermediary.

**Processing Support Payments**

The Distributor may make payments to certain financial intermediaries that sell Federated Hermes fund shares to help offset their costs associated with client account maintenance support, statement processing and transaction processing. The types of payments that the Distributor may make under this category include: payment of ticket charges on a per-transaction basis; payment of networking fees; and payment for ancillary services such as setting up funds on the financial intermediary's mutual fund trading system.

**Retirement Plan Program Servicing Payments**

The Distributor may make payments to certain financial intermediaries who sell Federated Hermes fund shares through retirement plan programs. A financial intermediary may perform retirement plan program services itself or may arrange with a third party to perform retirement plan program services. In addition to participant recordkeeping, reporting or transaction processing, retirement plan program services may include: services rendered to a plan in connection with fund/investment selection and monitoring; employee enrollment and education; plan balance rollover or separation; or other similar services.

**Marketing Support Payments**

From time to time, the Distributor, at its expense, may provide additional compensation to financial intermediaries that sell or arrange for the sale of Shares. Such compensation, provided by the Distributor, may include financial assistance to financial intermediaries that enable the Distributor to participate in or present at conferences or seminars, sales or training programs for invited registered representatives and other employees, client entertainment, client and investor events and other financial intermediary-sponsored events. The Distributor may also provide additional compensation to financial intermediaries for services rendered in connection with technology and programming set-up, platform development and maintenance or similar services and for the provision of sales-related data to the Adviser and/or its affiliates.

The Distributor also may hold or sponsor, at its expense, sales events, conferences and programs for employees or associated persons of financial intermediaries and may pay the travel and lodging expenses of attendees. The Distributor also may provide, at its expense, meals and entertainment in conjunction with meetings with financial intermediaries. Other compensation may be offered to the extent not prohibited by applicable federal or state law or regulations, or the rules of any self-regulatory agency, such as FINRA. These payments may vary depending on the nature of the event or the relationship.

**7**

------

For the year ended December 31, 2022, the following is a list of FINRA member firms that received additional payments from the Distributor or an affiliate. Additional payments may also be made to certain other financial intermediaries that are not FINRA member firms that sell Federated Hermes fund shares or provide services to the Federated Hermes funds and shareholders. These firms are not included in this list. Any additions, modifications or deletions to the member firms identified in this list that have occurred since December 31, 2022, are not reflected. You should ask your financial intermediary for information about any additional payments it receives from the Distributor.

ADP Broker-Dealer, Inc. <br>American Enterprise Investment Services Inc. <br>American Portfolios Advisors, Inc. <br>Aspyre Wealth Partners <br>Avidian Wealth Solutions LLC <br>B. C. Ziegler And Company <br>Beam Wealth Advisors, Inc. <br>Benjamin F. Edwards & Company, Inc. <br>BMO Harris Financial Advisors, Inc. <br>BofA Securities, Inc. <br>Bolton Global Capital, Inc. <br>Broadridge Business Process Outsourcing, LLC <br>Brown Investment Advisory & Trust Company <br>Cadaret, Grant & Co., Inc. <br>Cambridge Financial Group, Inc. <br>CBIZ Financial Solutions, Inc. <br>Cetera Advisor Networks LLC <br>Cetera Advisors LLC <br>Cetera Investment Services LLC <br>Charles Schwab & Company, Inc. <br>Citigroup Global Markets Inc. <br>Citizens Securities, Inc. <br>Comerica Securities, Inc. <br>Commonwealth Financial Network <br>D A Davidson & Co. <br>Davenport & Company LLC <br>Deutsche Bank Securities Inc. <br>Edward D. Jones & Co., LP <br>Emerald Advisors, LLC <br>Empower Financial Services, Inc. <br>Envestnet PMC <br>FBL Marketing Services, LLC <br>Fidelity Investments Institutional Operations Company, Inc. (FIIOC) <br>Fifth Third Securities, Inc. <br>FIS Brokerage & Securities Services LLC <br>Gerber Kawasaki Wealth & Investment Management <br>Goldman Sachs & Co. LLC <br>Hancock Whitney Investment Services Inc. <br>HighTower Securities, LLC <br>Hilltop Securities, Inc. <br>HUB International Investment Services Inc. <br>The Huntington Investment Company <br>Huntington Securities, Inc. <br>IFP Securities, LLC <br>Insigneo Securities, LLC <br>Institutional Cash Distributors, LLC <br>Interactive Brokers LLC <br>J.P. Morgan Securities LLC <br>Janney Montgomery Scott LLC <br>

Jefferies LLC <br>KeyBanc Capital Markets Inc. <br>Kowal Investment Group, LLC <br>Leafhouse Financial Advisors, LLC <br>Lincoln Financial Advisors Corporation <br>Lincoln Financial Distributors, Inc. <br>Lincoln Investment Planning, LLC <br>LPL Financial LLC <br>Lyrical Partners, L.P. <br>MML Investors <br>Materetsky Financial Group <br>Merrill Lynch, Pierce, Fenner and Smith Incorporated <br>Moneta Group Investment Advisors, LLC <br>Morgan Stanley Smith Barney LLC <br>National Financial Services LLC <br>Nationwide Investment Services Corporation <br>NewEdge Securities, Inc. <br>Northwestern Mutual Investment Services, LLC <br>NYLIFE Distributors LLC <br>Open Range Financial Group, LLC <br>Oppenheimer & Company, Inc. <br>Paychex Securities Corp <br>Pensionmark Financial Group, LLC <br>Pershing LLC <br>PNC Capital Markets, LLC <br>PNC Investments LLC <br>Private Client Services, LLC <br>Raymond James & Associates, Inc. <br>Raymond James Financial Services, Inc. <br>RBC Capital Markets, LLC <br>Rise Consulting, LLC <br>Robert W Baird & Co. Incorporated <br>Rockefeller Capital Management <br>Royal Alliance Associates, Inc. <br>Sagepoint Financial, LLC <br>Sageview Advisory Group, LLC <br>Sanford C. Bernstein & Company, LLC <br>SBC Wealth Management <br>Securian Financial Services, Inc. <br>Securities America, Inc. <br>Security Distributors, LLC <br>Spire Securities, LLC <br>State Street Global Markets, LLC <br>Stephens Inc. <br>Steward Partners Investment Advisory, LLC <br>Stifel, Nicolaus & Company, Incorporated <br>Strategic Financial Partners, Ltd <br>TD Ameritrade, Inc. <br>Teachers Insurance and Annuity Association of America <br>The London Company of Virginia LLC <br>

**8**

------

Towerpoint Wealth, LLC <br>Truist Investment Services, Inc. <br>Truist Securities, Inc. <br>U.S. Bancorp Investments, Inc. <br>UBS Financial Services Inc. <br>UBS Securities LLC <br>UMB Financial Services, Inc. <br>United Planners Financial Services of America, L.P. <br>Validus Capital LLC <br>Vanguard Marketing Corporation <br>

Veridian Capital Partners <br>Vining-Sparks IBG, LLC <br>Vision Financial Markets, LLC <br>Voya Financial Advisors, Inc. <br>Wells Fargo Clearing Services LLC <br>Wells Fargo Securities, LLC <br>Woodbury Financial Services, Inc. <br>WR Wealth Planners LLC <br>XML Financial Group

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>

Purchases In-Kind

You may contact the Distributor to request a purchase of Shares using securities you own. The Fund reserves the right to determine whether to accept your securities and the minimum market value to accept. The Fund will value your securities in the same manner as it values its assets in determining the market value of the portfolio for purposes of its comparison with amortized cost valuation. An in-kind purchase may be treated as a sale of your securities for federal tax purposes; please consult your tax adviser regarding potential tax liability.

Redemption In-Kind

Although the Fund generally intends to pay Share redemptions in cash, it reserves the right, on its own initiative or in response to a shareholder request, to pay the redemption price in whole or in part by a distribution of the Fund's portfolio securities.

Because the Fund has elected to be governed by Rule 18f-1 under the 1940 Act, the Fund is obligated to pay Share redemptions to any one shareholder in cash only up to the lesser of $250,000 or 1% of the net assets represented by such Share class during any 90-day period.

Any Share redemption payment greater than this amount will also be in cash unless the Fund elects to pay all or a portion of the remainder of the redemption in portfolio securities, valued in the same way as the Fund determines its NAV.

Redemption in-kind is not as liquid as a cash redemption. Shareholders receiving the portfolio securities could have difficulty selling them, may incur related transaction costs and would be subject to risks of fluctuations in the securities' values prior to sale.

Massachusetts Partnership Law

Under Massachusetts law, shareholders could, under certain circumstances, be held personally liable for the obligations of the Trust. The Declaration of Trust provides that no shareholder or former shareholder, merely by reason of his or her being or having been a shareholder, will be subject to any personal liability in connection with Trust property or the affairs of the Trust.

In the unlikely event a shareholder or former shareholder is held personally liable for the Trust's obligations, such shareholder will be entitled, out of the assets belonging to the applicable series, to be indemnified against all claims and reimbursed for all reasonably incurred expenses in connection with such claims. On request, the Trust will defend any claim made and pay any judgment against a shareholder from the assets belonging to the relevant series.

Share Information

**ORGANIZATION, CAPITALIZATION, VOTING RIGHTS AND OTHER MATTERS** 

The Trust is a Massachusetts business trust established under a Declaration of Trust dated October 3, 1988, as amended and restated November 11, 2015. The Trust's Declaration of Trust may be amended at any time by a majority of the Trustees. Under the Declaration of Trust, the Trustees have the authority to create and classify shares of beneficial interest in separate series and classes without further action by shareholders. Each series and class thereof may issue an unlimited number of shares of beneficial interest, with no par value. Shares of each series represent equal proportionate interests in the assets of that series only and have identical voting, dividend, redemption, liquidation and other rights of shares in the same series except that expenses allocated to a class may be borne solely by such class as determined by the Trustees and a class may have exclusive voting rights with respect to matters affecting only that class. Shares entitle their holders to one vote per share (and fractional votes for fractional shares), are freely transferable and, except as specifically provided by the Trustees, have no preference, preemptive, appraisal, exchange, subscription or conversion rights. All shares issued are fully paid and non-assessable. In the event of a liquidation or termination of a series, each shareholder is entitled to receive his pro rata share of the net assets of that series.

**9**

------

It is not anticipated that the Trust will hold shareholders' meetings unless required by law or the Declaration of Trust. The Board will call special meetings of shareholders of the Trust, a series or class thereof only if required under the 1940 Act, in their discretion, or upon the written request of holders of 10% or more of the outstanding shares of the Trust or of the relevant series or class, entitled to vote at such meeting.

The Declaration of Trust provides that the Trustees may redeem shares in certain circumstances, such as when a shareholder does not meet the qualifications for ownership of a particular series or class, or when such redemptions are required to comply with applicable laws and regulations. The Declaration of Trust also provides that the Board may, without shareholder approval unless required by the 1940 Act, cause the Trust or any series or class to dissolve, convert, merge, consolidate, reorganize, sell all or any part of its assets, provided that the surviving or resulting entity is an open-end management investment company under the 1940 Act, or a series thereof. The Trust or any series or class may be terminated at any time by the Trustees by written notice to the shareholders.

**SHAREHOLDERS OF THE FUND** 

**[To be Filed by Amendment]**

As of ______________, 2023, the following shareholders owned of record, beneficially, or both, 5% or more of outstanding Institutional Shares: Edward D. Jones & Co., Saint Louis, MO, owned approximately 631,653,457 Shares (54.55%); and NAIDOT & Co., Woodbridge, NJ, owned approximately 379,253,371 Shares (32.75%).

As of ______________, 2023, the following shareholders owned of record, beneficially, or both, 5% or more of outstanding Cash II Shares: Pershing LLC, Jersey City, NJ, owned approximately 668,935,732 Shares (99.64%).

As of ______________, 2023, the following shareholders owned of record, beneficially, or both, 5% or more of outstanding Cash Series Shares: Pershing LLC, Jersey City, NJ, owned approximately 435,386,587 Shares (48.63%); and Cetera Investment Services LLC, Saint Cloud, MN, owned approximately 342,175,542 Shares (38.22%).

Shareholders owning 25% or more of outstanding Shares may be in control and be able to affect the outcome of certain matters presented for a vote of shareholders.

Edward D. Jones & Co., L.P. is organized in the State of Missouri. Edward Jones is trade name of Edward D. Jones & Co., L.P. which is organized in the State of Missouri.

NAIDOT & Co. is organized in the State of Delaware and is a subsidiary of The Bessemer Group Incorporated, organized in the State of Delaware.

Pershing LLC is organized in the State of Delaware and is a subsidiary of The Bank of New York Mellon Corporation which is organized in the State of Delaware.

Cetera Investment Services LLC is organized in the State of Delaware.

Tax Information

**Federal Income Tax**

The Fund intends to meet requirements of Subchapter M of the Internal Revenue Code (the "Code") applicable to regulated investment companies. If these requirements are not met, it will not receive special tax treatment and will be subject to federal corporate income tax.

The Fund is entitled to a loss carryforward, which may reduce the taxable income or gain that the Fund would realize, and to which the shareholder would be subject, in the future.

The Fund will be treated as a single, separate entity for federal income tax purposes so that income earned and capital gains and losses realized by the Trust's other portfolios will be separate from those realized by the Fund.

Who Manages and Provides Services to the Fund?

**Board of Trustees**

The Board of Trustees is responsible for managing the Trust's business affairs and for exercising all the Trust's powers except those reserved for the shareholders. The following tables give information about each Trustee and the senior officers of the Fund. Where required, the tables separately list Trustees who are "interested persons" of the Fund (i.e., "Interested" Trustees) and those who are not (i.e., "Independent" Trustees). Unless otherwise noted, the address of each person listed is 1001 Liberty Avenue, Pittsburgh, PA 15222-3779. The address of all Independent Trustees listed is 4000 Ericsson Drive, Warrendale, PA 15086-7561; Attention: Mutual Fund Board. As of December 31, 2022, the Trust comprised 16 portfolios, and the Federated Hermes Complex consisted of 33 investment companies (comprising 102 portfolios). Unless otherwise noted, each Officer is elected annually. Unless otherwise noted, each Trustee oversees all portfolios in the Federated Hermes Complex and serves for an indefinite term.

**[To be Filed by Amendment]**

**10**

------

As of _________________, 2023, the Fund's Board and Officers as a group owned less than 1% of each class of the Fund's outstanding Shares.

**qualifications of Independent Trustees**

Individual Trustee qualifications are noted in the "Independent Trustees Background and Compensation" chart. In addition, the following characteristics are among those that were considered for each existing Trustee and will be considered for any Nominee Trustee.

◾ Outstanding skills in disciplines deemed by the Independent Trustees to be particularly relevant to the role of Independent Trustee and to the Federated Hermes funds, including legal, accounting, business management, the financial industry generally and the investment industry particularly.

◾ Desire and availability to serve for a substantial period of time, taking into account the Board's current mandatory retirement age of 75 years.

◾ No conflicts which would interfere with qualifying as independent.

◾ Appropriate interpersonal skills to work effectively with other Independent Trustees.

◾ Understanding and appreciation of the important role occupied by Independent Trustees in the regulatory structure governing regulated investment companies.

◾ Diversity of background.

**Interested Trustees Background and Compensation** 

---

| | | | |
|:---|:---|:---|:---|
| **Name**<br> **Birth Date**<br> **Positions Held with Trust**<br> **Date Service Began**<br>| &nbsp;&nbsp; **Principal Occupation(s) for Past Five Years,** <br> **Other Directorships Held and Previous Position(s)** <br>| **Aggregate**<br> **Compensation**<br> **From Fund**<br> **(past fiscal year)**<br>| **Total Compensation**<br> **From Fund and**<br> **Federated Hermes Complex**<br> **(past calendar year)**<br>|
| **J. Christopher Donahue\***<br> Birth Date: April 11, 1949<br> President and Trustee<br> Indefinite Term<br> Began serving: April 1989<br>| &nbsp;&nbsp; **Principal Occupations:** Principal Executive Officer and President of certain <br> of the Funds in the Federated Hermes Complex; Director or Trustee of the <br> Funds in the Federated Hermes Complex; President, Chief Executive <br> Officer and Director, Federated Hermes, Inc.; Chairman and Trustee, <br> Federated Investment Management Company; Trustee, Federated <br> Investment Counseling; Chairman and Director, Federated Global <br> Investment Management Corp.; Chairman and Trustee, Federated Equity <br> Management Company of Pennsylvania; Trustee, Federated Shareholder <br> Services Company; Director, Federated Services Company.<br> **Previous Positions:** President, Federated Investment Counseling; President <br> and Chief Executive Officer, Federated Investment Management Company, <br> Federated Global Investment Management Corp. and Passport <br> Research, Ltd.; Chairman, Passport Research, Ltd. <br>| $0 | $0 |
| **Thomas R. Donahue\***<br> Birth Date: October 20, 1958<br> Trustee<br> Indefinite Term<br> Began serving: May 2016<br>| &nbsp;&nbsp; **Principal Occupations:** Director or Trustee of certain funds in the <br> Federated Hermes Complex; Chief Financial Officer, Treasurer, Vice <br> President and Assistant Secretary, Federated Hermes, Inc.; Chairman and <br> Trustee, Federated Administrative Services; Chairman and Director, <br> Federated Administrative Services, Inc.; Trustee and Treasurer, Federated <br> Advisory Services Company; Director or Trustee and Treasurer, Federated <br> Equity Management Company of Pennsylvania, Federated Global <br> Investment Management Corp., Federated Investment Counseling, and <br> Federated Investment Management Company; Director, MDTA LLC; <br> Director, Executive Vice President and Assistant Secretary, Federated <br> Securities Corp.; Director or Trustee and Chairman, Federated Services <br> Company and Federated Shareholder Services Company; and Director and <br> President, FII Holdings, Inc.<br> **Previous Positions:** Director, Federated Hermes, Inc.; Assistant Secretary, <br> Federated Investment Management Company, Federated Global <br> Investment Management Company and Passport Research, LTD; Treasurer, <br> Passport Research, LTD; Executive Vice President, Federated Securities <br> Corp.; and Treasurer, FII Holdings, Inc.<br>| $0 | $0 |

---

\*

*Family relationships and reasons for "interested" status: J. Christopher Donahue and Thomas R. Donahue are brothers. Both are "interested" due to their beneficial ownership of shares of Federated Hermes, Inc. and the positions they hold with Federated Hermes, Inc. and its subsidiaries.*

**11**

------

**Independent Trustees Background, Qualifications and Compensation** 

---

| | | | |
|:---|:---|:---|:---|
| **Name**<br> **Birth Date**<br> **Positions Held with Trust**<br> **Date Service Began**<br>| &nbsp;&nbsp; **Principal Occupation(s) and Other Directorships Held for** <br> **Past Five Years, Previous Position(s) and Qualifications**<br>| **Aggregate**<br> **Compensation**<br> **From Fund**<br> **(past fiscal year)**<br>| **Total Compensation**<br> **From Fund and**<br> **Federated Hermes Complex**<br> **(past calendar year)**<br>|
| **John T. Collins**<br> Birth Date: January 24, 1947<br> Trustee<br> Indefinite Term<br> Began serving: September 2013<br>| &nbsp;&nbsp; **Principal Occupations:** Director or Trustee and Chair of the Board of <br> Directors or Trustees, of the Federated Hermes Complex; formerly, <br> Chairman and CEO, The Collins Group, Inc. (a private equity firm) (Retired).<br> **Other Directorships Held:** Director, KLX Energy Services Holdings, Inc. <br> (oilfield services); former Director of KLX Corp (aerospace).<br> **Qualifications:** Mr. Collins has served in several business and financial <br> management roles and directorship positions throughout his career. <br> Mr. Collins previously served as Chairman and CEO of The Collins Group, <br> Inc. (a private equity firm) and as a Director of KLX Corp. Mr. Collins serves <br> as Chairman Emeriti, Bentley University. Mr. Collins previously served as <br> Director and Audit Committee Member, Bank of America Corp.; Director, <br> FleetBoston Financial Corp.; and Director, Beth Israel Deaconess Medical <br> Center (Harvard University Affiliate Hospital).<br>| $2584.31 | $385000 |
| **G. Thomas Hough**<br> Birth Date: February 28, 1955<br> Trustee <br> Indefinite Term<br> Began serving: August 2015<br>| &nbsp;&nbsp; **Principal Occupations:** Director or Trustee, Chair of the Audit Committee <br> of the Federated Hermes Complex; Retired.<br> **Other Directorships Held:** Director, Chair of the Audit Committee, <br> Equifax, Inc.; Lead Director, Member of the Audit and Nominating and <br> Corporate Governance Committees, Haverty Furniture Companies, Inc.; <br> formerly, Director, Member of Governance and Compensation Committees, <br> Publix Super Markets, Inc.<br> **Qualifications:** Mr. Hough has served in accounting, business management <br> and directorship positions throughout his career. Mr. Hough most recently <br> held the position of Americas Vice Chair of Assurance with Ernst & <br> Young LLP (public accounting firm). Mr. Hough serves on the President's <br> Cabinet and Business School Board of Visitors for the University of <br> Alabama. Mr. Hough previously served on the Business School Board of <br> Visitors for Wake Forest University, and he previously served as an <br> Executive Committee member of the United States Golf Association.<br>| $2438.90 | $365000 |

---

**12**

------

---

| | | | |
|:---|:---|:---|:---|
| **Name**<br> **Birth Date**<br> **Positions Held with Trust**<br> **Date Service Began**<br>| &nbsp;&nbsp; **Principal Occupation(s) and Other Directorships Held for** <br> **Past Five Years, Previous Position(s) and Qualifications**<br>| **Aggregate**<br> **Compensation**<br> **From Fund**<br> **(past fiscal year)**<br>| **Total Compensation**<br> **From Fund and**<br> **Federated Hermes Complex**<br> **(past calendar year)**<br>|
| **Maureen Lally-Green**<br> Birth Date: July 5, 1949<br> Trustee <br> Indefinite Term<br> Began serving: August 2009<br>| &nbsp;&nbsp; **Principal Occupations:** Director or Trustee of the Federated Hermes <br> Complex; Adjunct Professor Emerita of Law, Duquesne University School of <br> Law; formerly, Dean of the Duquesne University School of Law and <br> Professor of Law and Interim Dean of the Duquesne University School of <br> Law; formerly, Associate General Secretary and Director, Office of Church <br> Relations, Diocese of Pittsburgh.<br> **Other Directorships Held:** Director, CNX Resources Corporation <br> (natural gas).<br> **Qualifications:** Judge Lally-Green has served in various legal and business <br> roles and directorship positions throughout her career. Judge Lally-Green <br> previously held the position of Dean of the School of Law of Duquesne <br> University (as well as Interim Dean). Judge Lally-Green previously served as <br> Associate General Secretary for the Diocese of Pittsburgh, a member of the <br> Superior Court of Pennsylvania and as a Professor of Law, Duquesne <br> University School of Law. Judge Lally-Green was appointed by the Supreme <br> Court of Pennsylvania to serve on the Supreme Court's Board of Continuing <br> Judicial Education and the Supreme Court's Appellate Court Procedural <br> Rules Committee. Judge Lally-Green also currently holds the positions on <br> not for profit or for profit boards of directors as follows: Director and Chair, <br> UPMC Mercy Hospital; Regent, Saint Vincent Seminary; Member, <br> Pennsylvania State Board of Education (public); Director, Catholic Charities, <br> Pittsburgh; and Director, CNX Resources Corporation (natural gas). Judge <br> Lally-Green has held the positions of: Director, Auberle; Director, Epilepsy <br> Foundation of Western and Central Pennsylvania; Director, Ireland Institute <br> of Pittsburgh; Director, Saint Thomas More Society; Director and Chair, <br> Catholic High Schools of the Diocese of Pittsburgh, Inc.; Director, <br> Pennsylvania Bar Institute; Director, Saint Vincent College; Director and <br> Chair, North Catholic High School, Inc.; Director and Vice Chair, Our <br> Campaign for the Church Alive!, Inc.; and Director and Vice Chair, Saint <br> Francis University.<br>| $2197.28 | $330000 |
| **Thomas M. O'Neill**<br> Birth Date: June 14, 1951<br> Trustee<br> Indefinite Term<br> Began serving: August 2006<br>| &nbsp;&nbsp; **Principal Occupations:** Director or Trustee of the Federated Hermes <br> Complex; Sole Proprietor, Navigator Management Company (investment <br> and strategic consulting).<br> **Other Directorships Held:** None.<br> **Qualifications:** Mr. O'Neill has served in several business, mutual fund and <br> financial management roles and directorship positions throughout his <br> career. Mr. O'Neill serves as Director, Medicines for Humanity. Mr. O'Neill <br> previously served as Chief Executive Officer and President, Managing <br> Director and Chief Investment Officer, Fleet Investment Advisors; President <br> and Chief Executive Officer, Aeltus Investment Management, Inc.; General <br> Partner, Hellman, Jordan Management Co., Boston, MA; Chief Investment <br> Officer, The Putnam Companies, Boston, MA; Credit Analyst and Lending <br> Officer, Fleet Bank; Director and Consultant, EZE Castle Software <br> (investment order management software); Director, Midway Pacific <br> (lumber); and Director, The Golisano Children's Museum of Naples, Florida<br>| $2197.28 | $330000 |
| **Madelyn A. Reilly**<br> Birth Date: February 2, 1956<br> Trustee<br> Indefinite Term<br> Began serving: November 2020<br>| &nbsp;&nbsp; **Principal Occupations:** Director or Trustee of the Federated Hermes <br> Complex; formerly, Senior Vice President for Legal Affairs, General Counsel <br> and Secretary of Board of Directors, Duquesne University (Retired).<br> **Other Directorships Held:** None.<br> **Qualifications:** Ms. Reilly has served in various business and legal <br> management roles throughout her career. Ms. Reilly previously served as <br> Senior Vice President for Legal Affairs, General Counsel and Secretary of <br> Board of Directors and Director of Risk Management and Associate General <br> Counsel, Duquesne University. Prior to her work at Duquesne University, <br> Ms. Reilly served as Assistant General Counsel of Compliance and <br> Enterprise Risk as well as Senior Counsel of Environment, Health and <br> Safety, PPG Industries. Ms. Reilly currently serves as a member of the Board <br> of Directors of UPMC Mercy Hospital.<br>| $1997.54 | $300000 |

---

**13**

------

---

| | | | |
|:---|:---|:---|:---|
| **Name**<br> **Birth Date**<br> **Positions Held with Trust**<br> **Date Service Began**<br>| &nbsp;&nbsp; **Principal Occupation(s) and Other Directorships Held for** <br> **Past Five Years, Previous Position(s) and Qualifications**<br>| **Aggregate**<br> **Compensation**<br> **From Fund**<br> **(past fiscal year)**<br>| **Total Compensation**<br> **From Fund and**<br> **Federated Hermes Complex**<br> **(past calendar year)**<br>|
| **P. Jerome Richey**<br> Birth Date: February 23, 1949<br> Trustee<br> Indefinite Term<br> Began serving: September 2013<br>| &nbsp;&nbsp; **Principal Occupations:** Director or Trustee of the Federated Hermes <br> Complex; Retired; formerly, Senior Vice Chancellor and Chief Legal Officer, <br> University of Pittsburgh and Executive Vice President and Chief Legal <br> Officer, CONSOL Energy Inc. (split into two separate publicly traded <br> companies known as CONSOL Energy Inc. and CNX Resources Corp.).<br> **Other Directorships Held:** None.<br> **Qualifications:** Mr. Richey has served in several business and legal <br> management roles and directorship positions throughout his career. <br> Mr. Richey most recently held the positions of Senior Vice Chancellor and <br> Chief Legal Officer, University of Pittsburgh. Mr. Richey previously served as <br> Chairman of the Board, Epilepsy Foundation of Western Pennsylvania and <br> Chairman of the Board, World Affairs Council of Pittsburgh. Mr. Richey <br> previously served as Chief Legal Officer and Executive Vice President, <br> CONSOL Energy Inc. and CNX Gas Company; and Board Member, Ethics <br> Counsel and Shareholder, Buchanan Ingersoll & Rooney PC (a law firm).<br>| $2197.28 | $330000 |
| **John S. Walsh**<br> Birth Date: November 28, 1957<br> Trustee<br> Indefinite Term<br> Began serving: January 1999<br>| &nbsp;&nbsp; **Principal Occupations:** Director or Trustee of the Federated Hermes <br> Complex; President and Director, Heat Wagon, Inc. (manufacturer of <br> construction temporary heaters); President and Director, Manufacturers <br> Products, Inc. (distributor of portable construction heaters); President, <br> Portable Heater Parts, a division of Manufacturers Products, Inc. <br> **Other Directorships Held:** None.<br> **Qualifications:** Mr. Walsh has served in several business management roles <br> and directorship positions throughout his career. Mr. Walsh previously <br> served as Vice President, Walsh & Kelly, Inc. (paving contractors).<br>| $1997.54 | $300000 |

---

**OFFICERS\*** 

---

| | |
|:---|:---|
| **Name**<br> **Birth Date**<br> **Positions Held with Trust**<br> **Date Service Began**<br>| **Principal Occupation(s) and Previous Position(s)** |
| **Lori A. Hensler**<br> Birth Date: January 6, 1967<br> Treasurer <br> Officer since: April 2013<br>| &nbsp;&nbsp;&nbsp; **Principal Occupations:** Principal Financial Officer and Treasurer of the Federated Hermes Complex; Senior Vice President, <br> Federated Administrative Services; Financial and Operations Principal for Federated Securities Corp.; and Assistant Treasurer, <br> Federated Investors Trust Company. Ms. Hensler has received the Certified Public Accountant designation.<br> **Previous Positions:** Controller of Federated Hermes, Inc.; Senior Vice President and Assistant Treasurer, Federated Investors <br> Management Company; Treasurer, Federated Investors Trust Company; Assistant Treasurer, Federated Administrative Services, <br> Federated Administrative Services, Inc., Federated Securities Corp., Edgewood Services, Inc., Federated Advisory Services <br> Company, Federated Equity Management Company of Pennsylvania, Federated Global Investment Management Corp., <br> Federated Investment Counseling, Federated Investment Management Company, Passport Research, Ltd. and Federated MDTA, <br> LLC; Financial and Operations Principal for Federated Securities Corp., Edgewood Services, Inc. and Southpointe Distribution <br> Services, Inc.<br>|
| **Peter J. Germain**<br> Birth Date: September 3, 1959<br> CHIEF LEGAL OFFICER, <br> SECRETARY and EXECUTIVE<br> VICE PRESIDENT<br> Officer since: January 2005<br>| &nbsp;&nbsp;&nbsp; **Principal Occupations:** Mr. Germain is Chief Legal Officer, Secretary and Executive Vice President of the Federated Hermes <br> Complex. He is General Counsel, Chief Legal Officer, Secretary and Executive Vice President, Federated Hermes, Inc.; Trustee <br> and Senior Vice President, Federated Investors Management Company; Trustee and President, Federated Administrative <br> Services; Director and President, Federated Administrative Services, Inc.; Director and Vice President, Federated Securities <br> Corp.; Director and Secretary, Federated Private Asset Management, Inc.; Secretary, Federated Shareholder Services Company; <br> and Secretary, Retirement Plan Service Company of America. Mr. Germain joined Federated Hermes, Inc. in 1984 and is a <br> member of the Pennsylvania Bar Association.<br> **Previous Positions:** Deputy General Counsel, Special Counsel, Managing Director of Mutual Fund Services, Federated Hermes, <br> Inc.; Senior Vice President, Federated Services Company; and Senior Corporate Counsel, Federated Hermes, Inc.<br>|
| **Stephen Van Meter**<br> Birth Date: June 5, 1975<br> CHIEF COMPLIANCE OFFICER <br> AND SENIOR VICE PRESIDENT<br> Officer since: July 2015<br>| &nbsp;&nbsp;&nbsp; **Principal Occupations:** Senior Vice President and Chief Compliance Officer of the Federated Hermes Complex; Vice President <br> and Chief Compliance Officer of Federated Hermes, Inc. and Chief Compliance Officer of certain of its subsidiaries. <br> Mr. Van Meter joined Federated Hermes, Inc. in October 2011. He holds FINRA licenses under Series 3, 7, 24 and 66. <br> **Previous Positions:** Mr. Van Meter previously held the position of Compliance Operating Officer, Federated Hermes, Inc. Prior to <br> joining Federated Hermes, Inc., Mr. Van Meter served at the United States Securities and Exchange Commission in the positions <br> of Senior Counsel, Office of Chief Counsel, Division of Investment Management and Senior Counsel, Division of Enforcement.<br>|

---

**14**

------

---

| | |
|:---|:---|
| **Name**<br> **Birth Date**<br> **Positions Held with Trust**<br> **Date Service Began**<br>| **Principal Occupation(s) and Previous Position(s)** |
| **Deborah A. Cunningham**<br> Birth Date: September 15, 1959<br> Chief Investment Officer<br> Officer since: May 2004<br> Portfolio Manager since: <br> January 1994<br>| &nbsp;&nbsp;&nbsp; **Principal Occupations:** Deborah A. Cunningham has been the Fund's Portfolio Manager since January 1994. Ms. Cunningham <br> was named Chief Investment Officer of Federated Hermes' money market products in 2004. She joined Federated Hermes in <br> 1981 and has been a Senior Portfolio Manager since 1997 and an Executive Vice President of the Fund's Adviser since 2009. <br> Ms. Cunningham has received the Chartered Financial Analyst designation and holds an M.S.B.A. in Finance from Robert <br> Morris College.<br>|

---

\*

*Officers do not receive any compensation from the Fund.*

*In addition, the Fund has appointed an Anti-Money Laundering Compliance Officer.*

**DIRECTOR/TRUSTEE EMERITUS PROGRAM**

The Board has created a position of Director/Trustee Emeritus, whereby an incumbent Director/Trustee who has attained the age of 75 and completed a minimum of five years of service as a director/trustee, may, in the sole discretion of the Committee of Independent Directors/Trustees ("Committee"), be recommended to the full Board of Directors/Trustees of the Fund to serve as Director/Trustee Emeritus.

A Director/Trustee Emeritus that has been approved as such receives an annual fee in an amount equal to a percent of the annual base compensation paid to a Director/Trustee. In the case of a Director/Trustee Emeritus who had previously served at least five years but less than 10 years as a Director/Trustee, the percent will be 10%. In the case of a Director/Trustee Emeritus who had previously served at least 10 years as a Director/Trustee, the percent will be 20%. The Director/Trustee Emeritus will be reimbursed for any expenses incurred in connection with their service, including expenses of travel and lodging incurred in attendance at Board meetings. Director/Trustee Emeritus will continue to receive relevant materials concerning the Funds, will be expected to attend at least one regularly scheduled quarterly meeting of the Board of Directors/Trustees each year and will be available to consult with the Committees or its representatives at reasonable times as requested by the Chairman; however, a Director/Trustee Emeritus does not have any voting rights at Board meetings and is not subject to election by shareholders of the Funds.

The Director/Trustee Emeritus will be permitted to serve in such capacity at the pleasure of the Committee, but the annual fee will cease to be paid at the end of the calendar year during which he or she has attained the age of 80 years, thereafter the position will be honorary.

The following table shows the fees paid to each Director/Trustee Emeritus for the Fund's most recently ended fiscal year and the portion of that fee paid by the Fund or Corporation/Trust.<sup>1</sup>

**EMERITUS Trustees and Compensation** 

---

| | | |
|:---|:---|:---|
| **Director/Trustee Emeritus** | **Compensation**<br> **From Trust**<br> **(past fiscal year)**<br>| **Total**<br> **Compensation**<br> **Paid to**<br> **Director/Trustee**<br> **Emeritus**<sup>1</sup> <br>|
| **Charles F. Mansfield, Jr.**  | $431.02 | $60000.00 |

---

*The fees paid to a Director/Trustee are allocated among the funds that were in existence at the time the Director/Trustee elected Emeritus status, based on each fund's net assets at that time.*

**BOARD LEADERSHIP STRUCTURE**

As required under the terms of certain regulatory settlements, the Chairman of the Board is not an interested person of the Fund and neither the Chairman, nor any firm with which the Chairman is affiliated, has a prior relationship with Federated Hermes or its affiliates or (other than his position as a Trustee) with the Fund.

**15**

------

**Committees of the Board** 

---

| | | | |
|:---|:---|:---|:---|
| **Board**<br> **Committee**<br>| &nbsp;&nbsp;&nbsp; **Committee**<br> **Members**<br>| **Committee Functions** | &nbsp;&nbsp;&nbsp; **Meetings Held**<br> **During Last**<br> **Fiscal Year**<br>|
| **Executive** | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;J. Christopher Donahue<br> John T. Collins<br> &nbsp;&nbsp;&nbsp;&nbsp;G. Thomas Hough<br>| &nbsp;&nbsp;&nbsp; In between meetings of the full Board, the Executive Committee generally may <br> exercise all the powers of the full Board in the management and direction of the <br> business and conduct of the affairs of the Trust in such manner as the Executive <br> Committee shall deem to be in the best interests of the Trust. However, the <br> Executive Committee cannot elect or remove Board members, increase or decrease <br> the number of Trustees, elect or remove any Officer, declare dividends, issue shares <br> or recommend to shareholders any action requiring shareholder approval.<br>| One |
| **Audit** | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;G. Thomas Hough<br> Maureen Lally-Green<br> Thomas M. O'Neill<br> &nbsp;&nbsp;&nbsp;&nbsp;P. Jerome Richey<br>| &nbsp;&nbsp;&nbsp; The purposes of the Audit Committee are to oversee the accounting and financial <br> reporting process of the Fund, the Fund's internal control over financial reporting <br> and the quality, integrity and independent audit of the Fund's financial statements. <br> The Committee also oversees or assists the Board with the oversight of compliance <br> with legal requirements relating to those matters, approves the engagement and <br> reviews the qualifications, independence and performance of the Fund's <br> independent registered public accounting firm, acts as a liaison between the <br> independent registered public accounting firm and the Board and reviews the Fund's <br> internal audit function.<br>| Seven |
| **Nominating** | &nbsp;&nbsp;&nbsp; John T. Collins<br> &nbsp;&nbsp;&nbsp;&nbsp;G. Thomas Hough <br> Maureen Lally-Green<br> Thomas M. O'Neill<br> Madelyn A. Reilly<br> &nbsp;&nbsp;&nbsp;&nbsp;P. Jerome Richey<br> John S. Walsh<br>| &nbsp;&nbsp;&nbsp; The Nominating Committee, whose members consist of all Independent Trustees, <br> selects and nominates persons for election to the Fund's Board when vacancies <br> occur. The Committee will consider candidates recommended by shareholders, <br> Independent Trustees, officers or employees of any of the Fund's agents or service <br> providers and counsel to the Fund. Any shareholder who desires to have an <br> individual considered for nomination by the Committee must submit a <br> recommendation in writing to the Secretary of the Fund, at the Fund's address <br> appearing on the back cover of this SAI. The recommendation should include the <br> name and address of both the shareholder and the candidate and detailed <br> information concerning the candidate's qualifications and experience. In identifying <br> and evaluating candidates for consideration, the Committee shall consider such <br> factors as it deems appropriate. Those factors will ordinarily include: integrity, <br> intelligence, collegiality, judgment, diversity, skill, business and other experience, <br> qualification as an "Independent Trustee," the existence of material relationships <br> which may create the appearance of a lack of independence, financial or accounting <br> knowledge and experience and dedication and willingness to devote the time and <br> attention necessary to fulfill Board responsibilities.<br>| One |

---

**BOARD'S ROLE IN RISK OVERSIGHT**

The Board's role in overseeing the Fund's general risks includes receiving performance reports for the Fund and risk management reports from Federated Hermes' Chief Risk Officer at each regular Board meeting. The Chief Risk Officer is responsible for enterprise risk management at Federated Hermes, which includes risk management committees for investment management and for investor services. The Board also receives regular reports from the Fund's Chief Compliance Officer regarding significant compliance risks.

On behalf of the Board, the Audit Committee plays a key role overseeing the Fund's financial reporting and valuation risks. The Audit Committee meets regularly with the Fund's Principal Financial Officer and outside auditors, as well as with Federated Hermes' Chief Audit Executive to discuss financial reporting and audit issues, including risks relating to financial controls.

**16**

------

**Board Ownership Of Shares In The Fund And In The Federated Hermes Family Of Investment Companies As Of December 31, 2022** 

---

| | | |
|:---|:---|:---|
| **Interested Board**<br> **Member Name**<br>| &nbsp;&nbsp; **Dollar Range of**<br> **Shares Owned in**<br> **Federated Hermes Trust for** <br> **U.S. Treasury Obligations**<br>| &nbsp;&nbsp; **Aggregate**<br> **Dollar Range of**<br> **Shares Owned in**<br> **Federated Hermes Family of**<br> **Investment Companies**<br>|
| J. Christopher Donahue |  | Over $100,000 |
| Thomas R. Donahue |  | Over $100,000 |
| **Independent Board**<br> **Member Name**<br>|  |  |
| John T. Collins |  | Over $100,000 |
| G. Thomas Hough |  | Over $100,000 |
| Maureen Lally-Green |  | Over $100,000 |
| Thomas M. O'Neill |  | Over $100,000 |
| Madelyn A. Reilly |  | Over $100,000 |
| P. Jerome Richey |  | Over $100,000 |
| John S. Walsh |  | Over $100,000 |

---

**Investment Adviser**

The Adviser conducts investment research and makes investment decisions for the Fund.

The Adviser is a wholly owned subsidiary of Federated Hermes.

The Adviser shall not be liable to the Trust or any Fund shareholder for any losses that may be sustained in the purchase, holding or sale of any security or for anything done or omitted by it, except acts or omissions involving willful misfeasance, bad faith, gross negligence or reckless disregard of the duties imposed upon it by its contract with the Trust.

In December 2017, Federated Investors, Inc., now Federated Hermes, became a signatory to the Principles for Responsible Investment (PRI). The PRI is an investor initiative in partnership with the United Nations Environment Programme Finance Initiative and the United Nations Global Compact. Commitments made as a signatory to the PRI are not legally binding, but are voluntary and aspirational. They include efforts, where consistent with our fiduciary responsibilities, to incorporate environmental, social and corporate governance (ESG) issues into investment analysis and investment decision making, to be active owners and incorporate ESG issues into our ownership policies and practices, to seek appropriate disclosure on ESG issues by the entities in which we invest, to promote acceptance and implementation of the PRI within the investment industry, to enhance our effectiveness in implementing the PRI, and to report on our activities and progress towards implementing the PRI. Being a signatory to the PRI does not obligate Federated Hermes to take, or not take, any particular action as it relates to investment decisions or other activities.

In July 2018, Federated Investors, Inc., now Federated Hermes, acquired a majority interest in Federated Hermes Limited (FHL) (formerly, Hermes Fund Managers Limited), a pioneer of integrated ESG investing. Federated Hermes now owns 100% of FHL. FHL's experience with ESG issues contributes to Federated Hermes' understanding of material risks and opportunities these issues may present.

EOS at Federated Hermes, which was established as Hermes Equity Ownership Services Limited (EOS) in 2004 as an affiliate of FHL and Hermes Investment Management Limited, is a 50+ member engagement and stewardship team that conducts long-term, objectives-driven dialogue with board and senior executive level representatives of approximately 1,000 unique issuers annually. It seeks to address the most material ESG risks and opportunities through constructive and continuous discussions with the goal of improving long-term results for investors. Engagers' deep understanding across sectors, themes and regional markets, along with language and cultural expertise, allows EOS to provide insights to companies on the merits of addressing ESG risks and the positive benefits of capturing opportunities. Federated Hermes investment management teams have access to the insights gained from understanding a company's approach to these long-term strategic matters as an additional input to improve portfolio risk/return characteristics.

**Services Agreement**

Federated Advisory Services Company, an affiliate of the Adviser, provides certain support services to the Adviser. The fee for these services is paid by the Adviser and not by the Fund.

**Other Related Services**

Affiliates of the Adviser may, from time to time, provide certain electronic equipment and software to institutional customers in order to facilitate the purchase of Fund Shares offered by the Distributor.

**17**

------

**Code Of Ethics Restrictions On Personal Trading**

As required by Rule 17j-1 of the Investment Company Act of 1940 and Rule 204A-1 under the Investment Advisers Act (as applicable), the Fund, its Adviser and its Distributor have adopted codes of ethics. These codes govern securities trading activities of investment personnel, Fund Trustees and certain other employees. Although they do permit these people to trade in securities, including those that the Fund could buy, as well as Shares of the Fund, they also contain significant safeguards designed to protect the Fund and its shareholders from abuses in this area, such as requirements to obtain prior approval for, and to report, particular transactions.

**Voting Proxies On Fund Portfolio Securities**

The Board has delegated to the Adviser authority to vote proxies on the securities held in the Fund's portfolio. The Board has also approved the Adviser's policies and procedures for voting the proxies, which are described below.

**Proxy Voting Policies**

As an investment adviser with a fiduciary duty to the Fund and its shareholders, the Adviser's general policy is to cast proxy votes in favor of management proposals and shareholder proposals that the Adviser anticipates will enhance the long-term value of the securities being voted in a manner that is consistent with the investment objectives of the Fund. Generally, this will mean voting for proposals that the Adviser believes will improve the management of a company, increase the rights or preferences of the voted securities, or increase the chance that a premium offer would be made for the company or for the voted securities. This approach to voting proxy proposals will be referred to hereafter as the "General Policy."

The Adviser generally votes consistently on the same matter when securities of an issuer are held by multiple client portfolios. However, the Adviser may vote differently if a client's investment objectives differ from those of other clients or if a client explicitly instructs the Adviser to vote differently.

The following examples illustrate how the General Policy may apply to the most common management proposals and shareholder proposals. However, whether the Adviser supports or opposes a proposal will always depend on a thorough understanding of the Fund's investment objectives and the specific circumstances described in the proxy statement and other available information.

On matters related to the board of directors, generally, the Adviser will vote to elect nominees to the board in uncontested elections except in certain circumstances, such as where the director: (1) had not attended at least 75% of the board meetings during the previous year; (2) serves as the company's chief financial officer, unless the company is headquartered in the UK where this is market practice; (3) has become overboarded (more than five boards for retired executives and more than two boards for CEOs); (4) is the chair of the nominating or governance committee when the roles of chairman of the board and CEO are combined and there is no lead independent director; (5) served on the compensation committee during a period in which compensation appears excessive relative to performance and peers; or (6) served on a board that did not implement a shareholder proposal that the Adviser supported and received more than 50% shareholder support the previous year. In addition, the Adviser will generally vote in favor of: (7) a full slate of directors, where the directors are elected as a group and not individually, unless more than half of the nominees are not independent; (8) shareholder proposals to declassify the board of directors; (9) shareholder proposals to require a majority voting standard in the election of directors; (10) shareholder proposals to separate the roles of chairman of the board and CEO; (11) a proposal to require a company's audit committee to be comprised entirely of independent directors; and (12) shareholder proposals to eliminate supermajority voting requirements in company bylaws.

On other matters of corporate governance, generally, the Adviser will vote: (1) in favor of proposals to grant shareholders the right to call a special meeting if owners of at least 15% of the outstanding stock agree; (2) against proposals to allow shareholders to act by written consent; (3) on a case-by-case basis for proposals to adopt or amend shareholder rights plans (also known as "poison pills"); (4) in favor of shareholder proposals to eliminate supermajority requirements in company bylaws; and (5) in favor of shareholder proposals calling for "Proxy Access," that is, a bylaw change allowing shareholders owning at least 3% of the outstanding common stock for at least three years to nominate candidates for election to the board of directors.

Generally, the Adviser will vote every shareholder proposal of an environmental or social nature on a case-by-case basis. The quality of these shareholder proposals varies widely across markets. Similarly, company disclosures of their business practices related to environmental and social risks are not always adequate for investors to make risk assessments. Thus, the Adviser places great importance on company-specific analyses to determine how to vote. Above all, the Adviser will vote in a manner that would enhance the long-term value of the investment within the framework of the client's investment objectives.

The Adviser's general approach to analyzing these proposals calls for considering the literal meaning of the written proposal, the financial materiality of the proposal's objective and the practices followed by industry peers. This analysis utilizes research reports from the Adviser's proxy advisors, company filings, as well as reports published by the company and other outside organizations.

**18**

------

On matters of capital structure, generally, the Adviser will vote proxies for U.S. issuers on a case-by-case basis for proposals to authorize the issuance of new shares if not connected to an M&A transaction and the potential dilution is more than 10%, against proposals to create multiple-class voting structures where one class has superior voting rights to the other classes, in favor of proposals to authorize reverse stock splits unless the amount of authorized shares is not also reduced proportionately. Generally, the Adviser will vote proxies for non-U.S. issuers in favor of proposals to authorize issuance of shares with and without pre-emptive rights unless the size of the authorities would threaten to unreasonably dilute existing shareholders.

Votes on executive compensation come in many forms, including advisory votes on U.S. executive compensation plans ("Say On Pay"), advisory and binding votes on the design or implementation of non-U.S. executive remuneration plans and votes to approve new equity plans or amendments to existing plans. Generally, the Adviser will support compensation arrangements that are aligned with the client's long-term investment objectives. With respect to Say On Pay proposals, the Adviser will generally vote in favor unless the compensation plan has failed to align executive compensation with corporate performance, or the design of the plan is likely to lead to misalignment in the future. The Adviser supports the principle of an annual shareholder vote on executive pay and will generally vote accordingly on proposals which set the frequency of the Say On Pay vote.

In some markets, especially Europe, shareholders are provided a vote on the remuneration policy, which sets out the structural elements of a company's executive remuneration plan on a forward-looking basis. The Adviser will generally support these proposals unless the design of the remuneration policy fails to appropriately link executive compensation with corporate performance, total compensation appears excessive relative to the company's industry peer group, with local market dynamics also taken into account; or there is insufficient disclosure to enable an informed judgment, particularly as it relates to the disclosure of the maximum amounts of compensation that may be awarded.

The Adviser will generally vote in favor of equity plan proposals unless they result in unreasonable dilution to existing shareholders, permit replacement of "underwater" options with new options on more favorable terms for the recipient, or omit the criteria for determining the granting or vesting of awards.

On matters relating to corporate transactions, the Adviser will generally vote in favor of mergers, acquisitions and sales of assets if the Adviser's analysis of the proposed business strategy and the transaction price would have a positive impact on the total return for shareholders.

If a shareholders meeting is contested, that is, shareholders are presented with a set of director candidates nominated by company management and a set of director candidates nominated by a dissident shareholder, the Adviser will study the proposed business strategies of both groups and vote in a way that maximizes expected total return for the Fund.

In addition, the Adviser will not vote any proxy if it determines that the consequences or costs of voting outweigh the potential benefit of voting. For example, if a foreign market requires shareholders voting proxies to retain the voted shares until the meeting date (thereby rendering the shares "illiquid" for some period of time), the Adviser will not vote proxies for such shares. In addition, the Adviser is not obligated to incur any expense to send a representative to a shareholder meeting or to translate proxy materials into English.

To the extent that the Adviser is permitted to loan securities, the Adviser does not have the right to vote on securities while they are on loan. However, the Adviser will take all reasonable steps to recall shares prior to the record date when the meeting raises issues that the Adviser believes materially affect shareholder value, provided that the Adviser considers that the benefits of voting on the securities are greater than the associated costs, including the opportunity cost of the lost revenue that would otherwise be generated by the loan. However, there can be no assurance that the Adviser will have sufficient notice of such matters to be able to terminate the loan in time to vote thereon.

The Adviser will take into account feedback from issuers on the voting recommendations of the Adviser's proxy advisory firm if the feedback is provided at least five days before the voting cut-off date. In certain circumstances, primarily those where the Adviser's voting policy is absolute and without exception, issuer feedback will not be part of the voting decision. For example, it is the Adviser's policy to always support a shareholder proposal to separate the roles of chairman of the board and CEO. Thus, any comments from the issuer opposing this proposal would not be considered.

If proxies are not delivered in a timely or otherwise appropriate basis, the Adviser may not be able to vote a particular proxy.

For an Adviser that employs a quantitative investment strategy for certain funds or accounts that does not make use of qualitative research ("Non-Qualitative Accounts"), the Adviser may not have the kind of research to make decisions about how to vote proxies for them. Therefore, the Adviser will vote the proxies of these Non-Qualitative Accounts as follows: (a) in accordance with the Standard Voting Instructions (defined below); (b) if the Adviser is casting votes for the same proxy on behalf of a regular qualitative account and a Non-Qualitative Account, the Non-Qualitative Account would vote in the same manner as the regular qualitative account; (c) if neither of the first two conditions apply, as the proxy advisory firm is recommending; and (d) if none of the previous conditions apply, as recommended by the Proxy Voting Committee.

**19**

------

**Proxy Voting Procedures**

The Adviser has established a Proxy Voting Committee ("Proxy Committee"), to exercise all voting discretion granted to the Adviser by the Board in accordance with the proxy voting policies. To assist it in carrying out the day-to-day operations related to proxy voting, the Proxy Committee has created the Proxy Voting Management Group (PVMG). The day-to-day operations related to proxy voting are carried out by the Proxy Voting Operations Team (PVOT) and overseen by the PVMG. Besides voting the proxies, this work includes engaging with investee companies on corporate governance matters, managing the proxy advisory firm, soliciting voting recommendations from the Adviser's investment professionals, bringing voting recommendations to the Proxy Committee for approval, filing with regulatory agencies any required proxy voting reports, providing proxy voting reports to clients and investment companies as they are requested from time to time and keeping the Proxy Committee informed of any issues related to corporate governance and proxy voting.

The Adviser has compiled a list of specific voting instructions based on the General Policy (the "Standard Voting Instructions"). The Standard Voting Instructions and any modifications to them are approved by the Proxy Committee. The Standard Voting Instructions sometimes call for an investment professional to review the ballot question and provide a voting recommendation to the Proxy Committee (a "case-by-case vote"). The foregoing notwithstanding, the Proxy Committee always has the authority to determine a final voting decision.

The Adviser has hired a proxy advisory firm to perform various proxy voting related administrative services such as ballot reconciliation, vote processing and recordkeeping functions. The Proxy Committee has supplied the proxy advisory firm with the Standard Voting Instructions. The Proxy Committee retains the right to modify the Standard Voting Instructions at any time or to vote contrary to them at any time in order to cast proxy votes in a manner that the Proxy Committee believes is in accordance with the General Policy. The proxy advisory firm may vote any proxy as directed in the Standard Voting Instructions without further direction from the Proxy Committee. However, if the Standard Voting Instructions require case-by-case handling for a proposal, the PVOT will work with the investment professionals and the proxy advisory firm to develop a voting recommendation for the Proxy Committee and to communicate the Proxy Committee's final voting decision to the proxy advisory firm. Further, if the Standard Voting Instructions require the PVOT to analyze a ballot question and make the final voting decision, the PVOT will report such votes to the Proxy Committee on a quarterly basis for review.

**Conflicts of Interest**

The Adviser has adopted procedures to address situations where a matter on which a proxy is sought may present a potential conflict between the interests of the Fund (and its shareholders) and those of the Adviser or Distributor. This may occur where a significant business relationship exists between the Adviser (or its affiliates) and a company involved with a proxy vote.

A company that is a proponent, opponent, or the subject of a proxy vote, and which to the knowledge of the Proxy Committee has this type of significant business relationship, is referred to below as an "Interested Company."

The Adviser has implemented the following procedures in order to avoid concerns that the conflicting interests of the Adviser or its affiliates have influenced proxy votes. Any employee of the Adviser or its affiliates who is contacted by an Interested Company regarding proxies to be voted by the Adviser must refer the Interested Company to a member of the Proxy Committee, and must inform the Interested Company that the Proxy Committee has exclusive authority to determine how the proxy will be voted. Any Proxy Committee member contacted by an Interested Company must report it to the full Proxy Committee and provide a written summary of the communication. This requirement includes engagement meetings with investee companies and does not include communications with proxy solicitation firms. Under no circumstances will the Proxy Committee or any member of the Proxy Committee make a commitment to an Interested Company regarding the voting of proxies or disclose to an Interested Company how the Proxy Committee has directed such proxies to be voted. If the Standard Voting Instructions already provide specific direction on the proposal in question, the Proxy Committee shall not alter or amend such directions. If the Standard Voting Instructions require the Proxy Committee to provide further direction, the Proxy Committee shall do so in accordance with the proxy voting policies, without regard for the interests of the Adviser with respect to the Interested Company. If the Proxy Committee provides any direction as to the voting of proxies relating to a proposal affecting an Interested Company, it must disclose annually to the Fund's Board information regarding: the significant business relationship; any material communication with the Interested Company; the matter(s) voted on; and how, and why, the Adviser voted as it did. In certain circumstances it may be appropriate for the Adviser to vote in the same proportion as all other shareholders, so as to not affect the outcome beyond helping to establish a quorum at the shareholders' meeting. This is referred to as "proportional voting." If the Fund owns shares of another Federated Hermes mutual fund, generally the Adviser will proportionally vote the client's proxies for that fund or seek direction from the Board or the client on how the proposal should be voted. If the Fund owns shares of an unaffiliated mutual fund, the Adviser may proportionally vote the Fund's proxies for that fund depending on the size of the position. If the Fund owns shares of an unaffiliated exchange-traded fund, the Adviser will proportionally vote the Fund's proxies for that fund.

**20**

------

**Downstream Affiliates**

If the Proxy Committee gives further direction, or seeks to vote contrary to the Standard Voting Instructions, for a proxy relating to a portfolio company in which the Fund owns more than 10% of the portfolio company's outstanding voting securities at the time of the vote ("Downstream Affiliate"), the Proxy Committee must first receive guidance from counsel to the Proxy Committee as to whether any relationship between the Adviser and the portfolio company, other than such ownership of the portfolio company's securities, gives rise to an actual conflict of interest. If counsel determines that an actual conflict exists, the Proxy Committee must address any such conflict with the executive committee of the board of directors or trustees of any investment company client prior to taking any action on the proxy at issue.

**Proxy Advisers' Conflicts of Interest**

Proxy advisory firms may have significant business relationships with the subjects of their research and voting recommendations. For example, a proxy advisory firm board member also sits on the board of a public company for which the proxy advisory firm will write a research report. This and similar situations give rise to an actual or apparent conflict of interest.

In order to avoid concerns that the conflicting interests of the engaged proxy advisory firm have influenced proxy voting recommendations, the Adviser will take the following steps:

◾ A due diligence team made up of employees of the Adviser and/or its affiliates will meet with the proxy advisory firm on an annual basis and determine through a review of their policies and procedures and through inquiry that the proxy advisory firm has established a system of internal controls that provide reasonable assurance that their voting recommendations are not influenced by the business relationships they have with the subjects of their research.

◾ Whenever the standard voting guidelines call for voting a proposal in accordance with the proxy advisory firm recommendation and the proxy advisory firm has disclosed that they have a conflict of interest with respect to that issuer, the PVOT will take the following steps: (a) the PVOT will obtain a copy of the research report and recommendations published by another proxy advisory firm for that issuer; (b) the Director of Proxy Voting, or his designee, will review both the engaged proxy advisory firm research report and the research report of the other proxy advisory firm and determine what vote will be cast. The PVOT will report all proxies voted in this manner to the Proxy Committee on a quarterly basis. Alternatively, the PVOT may seek direction from the Committee on how the proposal shall be voted.

**Proxy Voting Report**

A report on "Form N-PX" of how the Fund voted any proxies during the most recent 12-month period ended June 30 is available via the Proxy Voting Record (Form N-PX) link associated with the Fund and share class name at FederatedInvestors.com/FundInformation. Form N-PX filings are also available at the SEC's website at sec.gov.

**Portfolio Holdings Information**

Information concerning the Fund's portfolio holdings is available via the link to the Fund and share class name at FederatedInvestors.com/FundInformation. Such information is posted on the website five business days after both mid-month and month-end then remains posted on the website for six months thereafter. Summary portfolio composition information as of the close of each month is posted on the website 15 days (or the next business day) after month-end and remains until replaced by the information for the succeeding month. The summary portfolio composition information may include percentage breakdowns of the portfolio by credit quality tier, portfolio composition, and effective maturity range. The Fund's WAM and WAL, Shadow NAV (market-based value of the Fund's portfolio), Daily and Weekly Liquid Assets and Daily Flows are posted every business day and remain posted on the website for six months thereafter.

You may also access portfolio information via the link to the Fund and share class name at FederatedInvestors.com. The Fund's Annual Shareholder Report and Semi-Annual Shareholder Report contain complete listings of the Fund's portfolio holdings as of the end of the Fund's second and fourth fiscal quarters. These reports are also available on the SEC's website at sec.gov.

The Fund files with the SEC a complete schedule of its portfolio holdings as of the close of each month on "Form N-MFP." Form N-MFP is available on the SEC's website at sec.gov. You may access Form N-MFP via the link to the Fund and share class name at FederatedInvestors.com.

The disclosure policy of the Fund and the Adviser prohibits the disclosure of portfolio holdings information to any investor or intermediary before the same information is made available to other investors. Employees of the Adviser or its affiliates who have access to nonpublic information concerning the Fund's portfolio holdings are prohibited from trading securities on the basis of this information. Such persons must report all personal securities trades and obtain pre-clearance for all personal securities trades other than mutual fund shares.

**21**

------

Firms that provide administrative, custody, financial, accounting, legal or other services to the Fund may receive nonpublic information about Fund portfolio holdings for purposes relating to their services. The Fund may also provide portfolio holdings information to publications that rate, rank or otherwise categorize investment companies. Traders or portfolio managers may provide "interest" lists to facilitate portfolio trading if the list reflects only that subset of the portfolio for which the trader or portfolio manager is seeking market interest. A list of service providers, publications and other third parties who may receive nonpublic portfolio holdings information appears in the Appendix to this SAI.

The furnishing of nonpublic portfolio holdings information to any third party (other than authorized governmental or regulatory personnel) requires the prior approval of the President of the Adviser and of the Chief Compliance Officer of the Fund. The President of the Adviser and the Chief Compliance Officer will approve the furnishing of nonpublic portfolio holdings information to a third party only if they consider the furnishing of such information to be in the best interests of the Fund and its shareholders. In that regard, and to address possible conflicts between the interests of Fund shareholders and those of the Adviser and its affiliates, the following procedures apply. No consideration may be received by the Fund, the Adviser, any affiliate of the Adviser or any of their employees in connection with the disclosure of portfolio holdings information. Before information is furnished, the third party must sign a written agreement that it will safeguard the confidentiality of the information, will use it only for the purposes for which it is furnished and will not use it in connection with the trading of any security. Persons approved to receive nonpublic portfolio holdings information will receive it as often as necessary for the purpose for which it is provided. Such information may be furnished as frequently as daily and often with no time lag between the date of the information and the date it is furnished. The Board receives and reviews annually a list of the persons who receive nonpublic portfolio holdings information and the purposes for which it is furnished.

**Brokerage Transactions And Investment Allocation**

When selecting brokers and dealers to handle the purchase and sale of portfolio instruments, the Adviser looks for prompt execution of the order at a favorable price. Fixed-income securities are generally traded in an over-the-counter market on a net basis (i.e., without commission) through dealers acting as principal or in transactions directly with the issuer. Dealers derive an undisclosed amount of compensation by offering securities at a higher price than they bid for them. Some fixed-income securities may have only one primary market maker. The Adviser seeks to use dealers it believes to be actively and effectively trading the security being purchased or sold, but may not always obtain the lowest purchase price or highest sale price with respect to a security. The Adviser makes decisions on portfolio transactions and selects brokers and dealers subject to review by the Fund's Board.

Investment decisions for the Fund are made independently from those of other accounts managed by the Adviser and accounts managed by affiliates of the Adviser. When the Fund and one or more of those accounts invests in, or disposes of, the same security, available investments or opportunities for sales will be allocated among the Fund and the account(s) in a manner believed by the Adviser to be equitable. While the coordination and ability to participate in volume transactions may benefit the Fund, it is possible that this procedure could adversely impact the price paid or received and/or the position obtained or disposed of by the Fund. Investment decisions, and trading, for certain separately managed or wrap-fee accounts, and other accounts, of the Adviser and/or certain investment adviser affiliates of the Adviser are generally made, and conducted, independently from the Fund. It is possible that such independent trading activity could adversely impact the prices paid or received and/or positions obtained or disposed of by the Fund.

**Administrator**

Federated Administrative Services (FAS), a subsidiary of Federated Hermes, provides administrative personnel and services, including certain legal, compliance and financial administrative services ("Administrative Services"), necessary for the operation of the Fund. FAS provides Administrative Services for a fee based upon the rates set forth below paid on the average daily net assets of the Fund. For purposes of determining the appropriate rate breakpoint, "Investment Complex" is defined as all of the Federated Hermes funds subject to a fee under the Administrative Services Agreement with FAS. FAS is also entitled to reimbursement for certain out-of-pocket expenses incurred in providing Administrative Services to the Fund.

---

| | |
|:---|:---|
| **Administrative Services**<br> **Fee Rate**<br>| &nbsp;&nbsp;&nbsp; **Average Daily Net Assets**<br> **of the Investment Complex**<br>|
| 0.100% | on assets up to $50 billion |
| 0.075% | on assets over $50 billion |

---

**Custodian**

State Street Bank and Trust Company, Boston, Massachusetts, is custodian for the securities and cash of the Fund.

**Transfer Agent And Dividend Disbursing Agent**

SS&C GIDS, Inc., the Fund's registered transfer agent, maintains all necessary shareholder records.

**22**

------

**Independent Registered Public Accounting Firm**

The independent registered public accounting firm for the Fund, [To be filed by Amendment], conducts its audits in accordance with the standards of the Public Company Accounting Oversight Board (United States), which require it to plan and perform its audits to provide reasonable assurance about whether the Fund's financial statements and financial highlights are free of material misstatement.

**FEES PAID BY THE FUND FOR SERVICES** 

---

| | | | |
|:---|:---|:---|:---|
| **For the Year Ended July 31** | **2022** | **2021** | **2020** |
| Advisory Fee Earned | $5515817 | $6632431 | $6694206 |
| Advisory Fee Waived | $4425646 | $5354690 | $3514270 |
| Net Administrative Fee | $2158826 | $2590130 | $2626055 |
| **Net 12b-1 Fee:** |  |  |  |
| Cash II Shares | $661981 | $— | $1519622  |
| Cash Series Shares | $1024747 | $— | $2071112  |
| **Net Shareholder Services Fee** |  |  |  |
| Cash II Shares | $332866 | $— | $950155  |
| Cash Series Shares | $266349 | $— | $895977 |

---

If the Fund's expenses are capped at a particular level, the cap does not include reimbursement to the Fund of any expenses incurred by shareholders who use the transfer agent's subaccounting facilities.

**Securities Lending Activities**

The Fund does not participate in a securities lending program and did not engage in any securities lending activities during the Fund's most recent fiscal year.

Financial Information

[To be updated by Amendment]

The Financial Statements for the Fund for the fiscal year ended July 31, 2022, and for the six months ended January 31, 2023, are incorporated herein by reference to the [Annual Report to Shareholders](https://www.sec.gov/Archives/edgar/data/856517/000162363222001147/form405.htm) of Federated Hermes Trust for U.S. Treasury Obligations dated July 31, 2022 [and to the Semi-Annual Report to Shareholders dated January 31, 2023, respectively].

**23**

------

Addresses

**Federated Hermes Trust for U.S. Treasury Obligations**

**Service Shares** <br>

Federated Hermes Funds <br>4000 Ericsson Drive <br>Warrendale, PA 15086-7561

**Distributor**

Federated Securities Corp. <br>1001 Liberty Avenue <br>Pittsburgh, PA 15222-3779

**Investment Adviser**

Federated Investment Management Company <br>1001 Liberty Avenue <br> Pittsburgh, PA 15222-3779

**Custodian**

State Street Bank and Trust Company <br>1 Iron Street <br>Boston, MA 02110

**Transfer Agent and Dividend Disbursing Agent**

SS&C GIDS, Inc. <br>P.O. Box 219318 <br>Kansas City, MO 64121-9318

**Independent Registered Public Accounting Firm**

[To Be Filed By Amendment]

**24**

------

Appendix

The following is a list of persons, other than the Adviser and its affiliates, that have been approved to receive nonpublic portfolio holdings information concerning the Federated Hermes Complex; however, certain persons below might not receive such information concerning the Fund:

**CUSTODIAN(S)**

State Street Bank and Trust Company

**INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

[To be filed by amendment]

**LEGAL COUNSEL**

Goodwin Procter LLP <br>K&L Gates LLP

**Financial Printer(S)**

Donnelley Financial Solutions

**Proxy Voting Administrator**

Glass Lewis & Co., LLC

**SECURITY PRICING SERVICES**

Bloomberg L.P. <br>IHS Markit (Markit North America) <br>ICE Data Pricing & Reference Data, LLC <br>JPMorgan PricingDirect <br>Refinitiv US Holdings Inc.

**RATINGS AGENCIES**

Fitch, Inc. <br>Moody's Investors Service, Inc. <br>Standard & Poor's Financial Services LLC

**Other SERVICE PROVIDERS**

Other types of service providers that have been approved to receive nonpublic portfolio holdings information include service providers offering, for example, trade order management systems, portfolio analytics, or performance and accounting systems, such as:

ACA Technology Surveillance, Inc. <br> Bank of America Merrill Lynch <br>Bloomberg L.P. <br> Charles River Development <br>Citibank, N.A. <br> Eagle Investment Systems LLC <br> Electra Information Systems <br>FactSet Research Systems Inc. <br> FISGlobal <br> Institutional Shareholder Services <br>Investortools, Inc. <br> MSCI ESG Research LLC <br>PricewaterhouseCoopers <br>Sustainalytics U.S. Inc. <br>Wolters Kluwer N.V. <br>

**25**

------

**Item 28. Exhibits**

---

| | |
|:---|:---|
| &nbsp;&nbsp;**(a)** | &nbsp;&nbsp;**Declaration of Trust** |
|  | &nbsp;&nbsp;[Conformed copy of Amended and Restated Declaration of Trust of the Registrant dated November 11, 2015, including Amendment Nos. 1-2 as filed via EDGAR in Post-Effective Amendment No. 234 on July 28, 2020 on Form N-1A (File Nos. 33-31602 and 811-5950)](https://www.sec.gov/Archives/edgar/data/856517/000162363220001332/ex28a.htm) |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**(b)** | &nbsp;&nbsp;**By-Laws** |
|  | &nbsp;&nbsp;[Conformed Copy of Amended and Restated By-Laws of the Registrant dated November 11, 2015 as filed via EDGAR in Post-Effective Amendment No. 232 on June 26, 2020 on Form N-1A (File Nos. 33-31602 and 811-5950)](https://www.sec.gov/Archives/edgar/data/856517/000162363220001207/ex28bbylaws.htm) |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**(c)** | &nbsp;&nbsp;**Instruments Defining Rights of Security Holders** |
| &nbsp;&nbsp;1 | &nbsp;&nbsp;Copy of Specimen Certificate for Shares of Beneficial Interest of the Registrant for Federated Tax-Free Trust, as filed on paper in Initial Registration Statement filed on December 27, 1978 on Form S-5 (File Nos. 2-63343 and 811-2891) |
| &nbsp;&nbsp;2 | &nbsp;&nbsp;Copy of Specimen Certificates for Shares of Beneficial Interest for Institutional Service Shares of Massachusetts Municipal Cash Trust; for Institutional Service Shares and Cash Series Shares of Pennsylvania Municipal Cash Trust; and for Institutional Service Shares of Virginia Municipal Cash Trust, as filed via EDGAR in Post-Effective Amendment No. 21 on Form N-1A on December 29, 1993 (File Nos. 33-31259 and 811-5911) |
| &nbsp;&nbsp;3 | &nbsp;&nbsp;[Copy of Specimen Certificates for Shares of Beneficial Interest of the Registrant for Institutional Service Shares of Government Obligations Fund, Prime Obligations Fund, Tax-Free Obligations Fund and Treasury Obligations Fund, as filed via EDGAR in Post-Effective Amendment No. 7 on May 6, 1994 on Form N-1A (File Nos. 33-31602 and 811-5950)](https://www.sec.gov/Archives/edgar/data/856517/0000856517-94-000003-index.html) |
| &nbsp;&nbsp;4 | &nbsp;&nbsp;[Copy of Specimen Certificate for Shares of Beneficial Interest for Trust for U.S. Treasury Obligations as filed via EDGAR in Post-Effective Amendment No. 27 on November 25, 1994 on Form N-1A (File Nos. 2-65505 and 811-2951)](https://www.sec.gov/Archives/edgar/data/856517/0000856517-94-000025-index.html) |
| &nbsp;&nbsp;5 | &nbsp;&nbsp;[Copy of Specimen Certificate for Shares of Beneficial Interest for Institutional Shares of Pennsylvania Municipal Cash Trust as filed via EDGAR in Post-Effective Amendment No. 35 on May 19, 1995 on Form N-1A (File Nos. 33-31259 and 811-5911)](https://www.sec.gov/Archives/edgar/data/855108/0000855108-95-000021.txt) |
| &nbsp;&nbsp;6 | &nbsp;&nbsp;[Copy of Specimen Certificate for Shares of Beneficial Interest for Institutional Capital Shares of Treasury Obligations Fund as filed via EDGAR in Post-Effective Amendment No. 22 on September 23, 1997 on Form N-1A (File Nos. 33-31602 and 811-5950)](https://www.sec.gov/Archives/edgar/data/856517/000085651797000018/0000856517-97-000018-index.htm) |
| &nbsp;&nbsp;7 | &nbsp;&nbsp;[Copy of Specimen Certificate for Shares of Beneficial Interest for Institutional Shares and Institutional Service Shares of California Municipal Cash Trust as filed on September 23, 1997 via EDGAR in Post-Effective Amendment No. 22 on Form N-1A (File Nos. 33-31259 and 811-5911)](https://www.sec.gov/Archives/edgar/data/856517/000085651797000018/0000856517-97-000018-index.htm) |
|  | &nbsp;&nbsp;As of September 1, 1997, Federated Securities Corp. stopped issuing share certificates |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**(d)** | &nbsp;&nbsp;**Investment Advisory Contracts** |
| &nbsp;&nbsp;1 | &nbsp;&nbsp;[Conformed copy of the Investment Advisory Contract of the Registrant dated December 11, 1989, including Exhibits A-UU, Amendment dated June 1, 2001 and Limited Power of Attorney dated June 1, 2017 as filed on January 19, 2022 via EDGAR in Post-Effective Amendment No. 241 on Form N-1A (File Nos. 33-31602 and 811-5950](https://www.sec.gov/Archives/edgar/data/856517/000162363222000023/ex28d1.htm) |
| &nbsp;&nbsp;2 | &nbsp;&nbsp;[Conformed copy of the Investment Advisory Contract of the Registrant dated March 1, 1995, including Exhibit A, Assignment dated November 17, 1998, Amendment dated June 1, 2001 and Limited Power of Attorney dated June 1, 2017 as filed via EDGAR in Post-Effective Amendment No. 234 on July 28, 2020 on Form N-1A (File Nos. 33-31602 and 811-5950)](https://www.sec.gov/Archives/edgar/data/856517/000162363220001332/ex28d2.htm) |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**(e)** | &nbsp;&nbsp;**Underwriting Contracts** |
| &nbsp;&nbsp;1 | &nbsp;&nbsp;[Conformed copy of the Distributor's Contract of the Registrant dated March 1, 1994, including Exhibits A-III and Amendments dated June 1, 2001 and October 1, 2003 as filed via EDGAR in Post-Effective Amendment No. 242 on February 24, 2022 on form N-1A (File Nos. 33-31602 and 811-5950).](https://www.sec.gov/Archives/edgar/data/856517/000162363222000293/ex28e1.htm) |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**(f)** | &nbsp;&nbsp;**Bonus or Profit Sharing Contracts** |
|  | &nbsp;&nbsp;Not applicable |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**(g)** | &nbsp;&nbsp;**Custodian Agreements** |
| &nbsp;&nbsp;1 | [Conformed copy of Amended and Restated Master Custodian Agreement dated March 1, 2017 by and between State Street Bank and Trust Company and the Registrant, including Appendix A (revised as of December 1, 2021) as filed on January 19, 2022 via EDGAR in Post-Effective Amendment No. 241 on Form N-1A (File Nos. 33-31602 and 811-5950)](https://www.sec.gov/Archives/edgar/data/856517/000162363222000023/ex28g1.htm) |
| &nbsp;&nbsp;2 | [Conformed copy of Amended and Restated Custodian Agreement dated June 7, 2005 by and between The Bank of New York and the Registrant, including Amendments and Exhibits (revised as of June 1, 2022) as filed on September 26, 2022 via EDGAR in Post-Effective Amendment No. 246 on Form N-1A (File Nos. 33-31602 and 811-5950)](https://www.sec.gov/Archives/edgar/data/856517/000162363222001161/ex28g2.htm) |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**(h)** | &nbsp;&nbsp;**Other Material Contracts** |  |
| &nbsp;&nbsp;**1** | &nbsp;&nbsp;**Services Agreement** |  |
| &nbsp;&nbsp;(a) | &nbsp;&nbsp;[Conformed copy of Services Agreement between Federated Advisory Services Company and Federated Investment Management Company dated January 1, 2004, including Schedule 1 (revised September 1, 2022) as filed on September 26, 2022 via EDGAR in Post-Effective Amendment No. 246 on Form N-1A (File Nos. 33-31602 and 811-5950)](https://www.sec.gov/Archives/edgar/data/856517/000162363222001161/ex28h1a.htm) |  |
| &nbsp;&nbsp;(b) | &nbsp;&nbsp;[Conformed copy of the Second Amended and Restated Services Agreement, amended and restated as of December 1, 2001, between Federated Shareholder Services Company and the Registrant, including Schedule 1 (revised December 1, 2022) as filed on February 23, 2023 via EDGAR in Post-Effective Amendment No. 247 on Form N-1A (File Nos. 33-31602 and 811-5950](https://www.sec.gov/Archives/edgar/data/856517/000162363223000334/exhibit28-h1b.htm) |  |
| &nbsp;&nbsp;**2** | &nbsp;&nbsp;**Transfer Agency Agreement** |  |
|  | &nbsp;&nbsp;[Conformed copy of the Transfer Agency Services Agreement between the Federated Hermes Funds and DST Asset Manager Solutions, Inc. dated June 1, 2022, including Schedule A (revised December 2, 2022) as filed on February 23, 2023 via EDGAR in Post-Effective Amendment No. 247 on Form N-1A (File Nos. 33-31602 and 811-5950](https://www.sec.gov/Archives/edgar/data/856517/000162363223000334/exhibit28-h2.htm) |  |
| &nbsp;&nbsp;**3** | &nbsp;&nbsp;**Administrative Services Agreement** |  |
|  | &nbsp;&nbsp;[Conformed copy of the Fourth Amended and Restated Agreement for Administrative Services between the Federated Funds and Federated Administrative Services dated September 1, 2022, including Exhibit A](exhibit28-h3.htm) | &nbsp;&nbsp;+ |
| &nbsp;&nbsp;**4** | &nbsp;&nbsp;**Financial Administration and Accounting Agreement** |  |
| &nbsp;&nbsp;(a) | &nbsp;&nbsp;[Conformed copy of the Financial Administration and Accounting Services Agreement between the Federated Funds and The Bank of New York Mellon dated March 1, 2011, as amended, including Schedule 1 (updated as of June 1, 2022) as filed on September 26, 2022 via EDGAR in Post-Effective Amendment No. 246 on Form N-1A (File Nos. 33-31602 and 811-5950)](https://www.sec.gov/Archives/edgar/data/856517/000162363222001161/ex28h4a.htm) |  |
| &nbsp;&nbsp;(b) | &nbsp;&nbsp;[Conformed copy of the Financial Administration and Accounting Services Agreement between the Federated Funds and State Street Bank and Trust Company dated March 1, 2011, as amended, including Exhibit A (updated as of December 1, 2021) as filed on January 19, 2022 via EDGAR in Post-Effective Amendment No. 241 on Form N-1A (File Nos. 33-31602 and 811-5950)](https://www.sec.gov/Archives/edgar/data/856517/000162363222000023/ex28h4b.htm) |  |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**(i)** | &nbsp;&nbsp;**Legal Opinion** |
|  | &nbsp;&nbsp;[Conformed copy of Opinion and Consent of Counsel as to legality of shares being registered, as filed via EDGAR on September 29, 1995 in Post-Effective Amendment No. 16 on Form N-1A (File Nos. 33-31602 and 811-5950)](https://www.sec.gov/Archives/edgar/data/856517/000085651795000023/0000856517-95-000023-index.htm) |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**(j)** | &nbsp;&nbsp;**Other Opinions** |  |
| &nbsp;&nbsp;1 | &nbsp;&nbsp;Conformed copy of Consent of Independent Registered Public Accounting Firm Ernst & Young LLP (To be Filed by Amendment) |  |
| &nbsp;&nbsp;2 | &nbsp;&nbsp;Conformed copy of Consent of Independent Registered Public Accounting Firm (KPMG LLP) | &nbsp;&nbsp;N/A |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**(k)** | &nbsp;&nbsp;**Omitted Financial Statements** |
|  | &nbsp;&nbsp;Not Applicable |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**(l)** | &nbsp;&nbsp;**Initial Capital Agreements** |
|  | &nbsp;&nbsp;[Conformed copy of Initial Capital Understanding, as filed via EDGAR on September 29, 1995 in Post-Effective Amendment No. 16 on Form N-1A (File Nos. 33-31602 and 811-5950)](https://www.sec.gov/Archives/edgar/data/856517/000085651795000023/0000856517-95-000023-index.htm) |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**(m)** | &nbsp;&nbsp;**Rule 12b-1 Plan** |  |
| &nbsp;&nbsp;1 | &nbsp;&nbsp;[Conformed copy of the Distribution Plan between certain classes of the Registrant and Federated Securities Corp., dated February 12, 2004, including Exhibits A-EE](exhibit28-m.htm) | + |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**(n)** | &nbsp;&nbsp;**Rule 18f-3 Plan** |
|  | &nbsp;&nbsp;[Conformed copy of the Multiple Class Plan and all share class Exhibits (current as of February 8, 2023) as adopted by certain Federated investment companies offering separate classes of shares as filed on February 23, 2023 via EDGAR in Post-Effective Amendment No. 247 on Form N-1A (File Nos. 33-31602 and 811-5950](https://www.sec.gov/Archives/edgar/data/856517/000162363223000334/exhibit28-n.htm) |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**(o)** | &nbsp;&nbsp;**Powers of Attorney** |
| &nbsp;&nbsp;1 | &nbsp;&nbsp;[Conformed copy of Power of Attorney of the Registrant dated November 1, 2020 as filed via EDGAR in Post-Effective Amendment No. 237 on February 25, 2021 on Form N-1A (File Nos. 33-31602 and 811-5950)](https://www.sec.gov/Archives/edgar/data/856517/000162363221000335/exhibit28-o.htm) |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**(p)** | &nbsp;&nbsp;**Codes of Ethics** |
|  | &nbsp;&nbsp;[Conformed copy of the Federated Hermes, Inc. Code of Ethics for Access Persons, effective November 10, 2021 as filed on January 19, 2022 via EDGAR in Post-Effective Amendment No. 241 on Form N-1A (File Nos. 33-31602 and 811-5950)](https://www.sec.gov/Archives/edgar/data/856517/000162363222000023/ex28p.htm) |

---

+ <u>Exhibit is being filed electronically with registration statement</u>  

**Exhibit List for Inline Interactive Data File Submission.** (To Be Filed By Amendment)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Index No.** | &nbsp;&nbsp;&nbsp;**Description of Exhibit** |
| &nbsp;&nbsp;&nbsp;EX-101.INS | &nbsp;&nbsp;&nbsp;XBRL Instance Document - Instance Document does not appear in the Interactive Data File because its XBRL tags are embedded within the inline XBRL document. |
| &nbsp;&nbsp;&nbsp;EX-101.SCH | &nbsp;&nbsp;&nbsp;XBRL Taxonomy Extension Schema Document |
| &nbsp;&nbsp;&nbsp;EX-101.CAL | &nbsp;&nbsp;&nbsp;XBRL Taxonomy Extension Calculation Linkbase |
| &nbsp;&nbsp;&nbsp;EX-101.DEF | &nbsp;&nbsp;&nbsp;XBRL Taxonomy Extension Definition Linkbase |
| &nbsp;&nbsp;&nbsp;EX-101.LAB | &nbsp;&nbsp;&nbsp;XBRL Taxonomy Extension Labels Linkbase |
| &nbsp;&nbsp;&nbsp;EX-101.PRE | &nbsp;&nbsp;&nbsp;XBRL Taxonomy Extension Presentation Linkbase |

---

&nbsp;&nbsp;**Item 29. Persons Controlled by or Under Common Control with the Fund:**

---

| |
|:---|
| &nbsp;&nbsp;**Item 30. Indemnification** |
| &nbsp;&nbsp; Indemnification is provided to Officers and Trustees of the Registrant pursuant to the Registrant's Declaration of Trust, as amended. This includes indemnification against: (a) any liabilities or expenses incurred in connection with the defense or disposition of any action, suit or proceeding in which an Officer or Trustee may be or may have been involved; and (b) any liabilities and expenses incurred by an Officer or Trustee as a result of having provided personally identifiable information to a regulator or counterparty by or with whom the Registrant (or its series, as applicable) is regulated or engages in business to satisfy a legal or procedural requirement of such regulator or counterparty.<br> The Investment Advisory Contracts, and Sub-advisory Agreements as applicable, (collectively, "Advisory Contracts") between the Registrant and the investment advisers, and sub-advisers as applicable, (collectively, "Advisers") of its series, provide that, in the absence of willful misfeasance, bad faith, gross negligence, or reckless disregard of the obligations or duties under the Advisory Contracts on the part of the Advisers, Advisers shall not be liable to the Registrant or to any shareholder for any act or omission in the course of or connected in any way with rendering services or for any losses that may be sustained in the purchase, holding, or sale of any security.<br> The Registrant's distribution contract contains provisions limiting the liability, and providing for indemnification, of the Officers and Trustees under certain circumstances.<br> Registrant's Trustees and Officers are covered by an Investment Trust Errors and Omissions Policy.<br> Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to Trustees, Officers, and controlling persons of the Registrant by the Registrant pursuant to the Declaration of Trust, as amended, or otherwise, the Registrant is aware that in the opinion of the Securities and Exchange Commission, such indemnification is against public policy as expressed in the Act and, therefore, is unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by Trustees), Officers, or controlling persons of the Registrant in connection with the successful defense of any act, suit, or proceeding) is asserted by such Trustees, Officers, or controlling persons in connection with the shares being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issues.<br> Insofar as indemnification for liabilities may be permitted pursuant to Section 17 of the Investment Company Act of 1940 for Trustees, Officers, and controlling persons of the Registrant by the Registrant pursuant to the Declaration of Trust, as amended, or otherwise, the Registrant is aware of the position of the Securities and Exchange Commission as set forth in Investment Company Act Release No. IC-11330. Therefore, the Registrant undertakes that in addition to complying with the applicable provisions of the Declaration of Trust, as amended, or otherwise, in the absence of a final decision on the merits by a court or other body before which the proceeding was brought, that an indemnification payment will not be made unless in the absence of such a decision, a reasonable determination based upon factual review has been made (i) by a majority vote of a quorum of non-party Trustees who are not interested persons of the Registrant or (ii) by independent legal counsel in a written opinion that the indemnitee was not liable for an act of willful misfeasance, bad faith, gross negligence, or reckless disregard of duties. The Registrant further undertakes that advancement of expenses incurred in the defense of a proceeding (upon undertaking for repayment unless it is ultimately determined that indemnification is appropriate) against an Officer, Trustee or controlling person of the Registrant will not be made absent the fulfillment of at least one of the following conditions: (i) the indemnitee provides security for his undertaking; (ii) the Registrant is insured against losses arising by reason of any lawful advances; or (iii) a majority of a quorum of disinterested non-party Trustees or independent legal counsel in a written opinion makes a factual determination that there is reason to believe the indemnitee will be entitled to indemnification. |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Item 31. Business and Other Connections of Investment Adviser: Federated Investment Management Company** | &nbsp;&nbsp;**Item 31. Business and Other Connections of Investment Adviser: Federated Investment Management Company** |
| &nbsp;&nbsp;For a description of the other business of the Investment Adviser, see the section entitled "Who Manages the Fund?" in Part A. The affiliations with the Registrant of two of the Trustees and two of the Officers of the Investment Adviser are included in Part B of this Registration Statement under "Who Manages and Provides Services to the Fund?" The remaining Trustees of the Investment Adviser and, in parentheses, their principal occupations are: Thomas R. Donahue, (Chief Financial Officer, Federated Hermes, Inc.), 1001 Liberty Avenue, Pittsburgh, PA, 15222-3779, John B. Fisher, (Vice Chairman, Federated Hermes, Inc.) 1001 Liberty Avenue, Pittsburgh, PA, 15222-3779 and James J. Gallagher, II, Partner, Morris James LLP, 500 Delaware Avenue, Suite 1500, Wilmington, DE 19801-1494. The business address of each of the Officers of the Investment Adviser is 1001 Liberty Avenue, Pittsburgh, Pennsylvania 15222-3779. These individuals are also officers of a majority of the Investment Advisers to the investment companies in the Federated Hermes Fund Complex described in Part B of this Registration Statement. | &nbsp;&nbsp;For a description of the other business of the Investment Adviser, see the section entitled "Who Manages the Fund?" in Part A. The affiliations with the Registrant of two of the Trustees and two of the Officers of the Investment Adviser are included in Part B of this Registration Statement under "Who Manages and Provides Services to the Fund?" The remaining Trustees of the Investment Adviser and, in parentheses, their principal occupations are: Thomas R. Donahue, (Chief Financial Officer, Federated Hermes, Inc.), 1001 Liberty Avenue, Pittsburgh, PA, 15222-3779, John B. Fisher, (Vice Chairman, Federated Hermes, Inc.) 1001 Liberty Avenue, Pittsburgh, PA, 15222-3779 and James J. Gallagher, II, Partner, Morris James LLP, 500 Delaware Avenue, Suite 1500, Wilmington, DE 19801-1494. The business address of each of the Officers of the Investment Adviser is 1001 Liberty Avenue, Pittsburgh, Pennsylvania 15222-3779. These individuals are also officers of a majority of the Investment Advisers to the investment companies in the Federated Hermes Fund Complex described in Part B of this Registration Statement. |
| &nbsp;&nbsp;The Officers of the Investment Adviser are: | &nbsp;&nbsp;The Officers of the Investment Adviser are: |
| &nbsp;&nbsp;Chairman: | &nbsp;&nbsp;J. Christopher Donahue |
| &nbsp;&nbsp;President/ Chief Executive Officer: | &nbsp;&nbsp;John B. Fisher |
| &nbsp;&nbsp;Executive Vice Presidents: | &nbsp;&nbsp; Deborah A. Cunningham<br> Anne H. Kruczek<br> Robert J. Ostrowski<br> Timothy G. Trebilcock |
| &nbsp;&nbsp;Senior Vice Presidents: | &nbsp;&nbsp; Todd Abraham<br> Randall S. Bauer<br> Jonathan C. Conley<br> Mark E. Durbiano<br> Donald T. Ellenberger<br> Eamonn G. Folan<br> Richard J. Gallo<br> John T. Gentry<br> Michael R. Granito<br> Lori A. Hensler<br> Susan R. Hill<br> William R. Jamison<br> Jeffrey A. Kozemchak<br> Tracey L. Lusk<br> Judith J. Mackin<br> Marian R. Marinack<br> Mary Jo Ochson<br> Ihab Salib<br> Michael W. Sirianni, Jr.<br> Steven J. Wagner<br> Paige Wilhelm |
| &nbsp;&nbsp;Vice Presidents: | &nbsp;&nbsp; John Badeer<br> Christopher S. Bodamer<br> G. Andrew Bonnewell<br> Hanan Callas<br> David B. Catalane, Jr.<br> Nicholas S. Cecchini<br> James Chelmu<br> Leslie Ciferno<br> Jerome Conner<br> Lee R. Cunningham, II<br> Gregory Czamara, V<br> B. Anthony Delserone, Jr.<br> Jason DeVito<br> Bryan Dingle<br> William Ehling<br> Ann Ferentino<br> Kevin M. Fitzpatrick<br> Timothy P. Gannon<br> Kathryn P. Glass<br> James L. Grant<br> Nathan H. Kehm<br> Allen J. Knizner<br> Karen Manna<br> Daniel James Mastalski<br> Robert J. Matthews<br> Christopher McGinley<br> Keith E. Michaud<br> Karl Mocharko<br> Joseph M. Natoli<br> Gene Neavin<br> Bob Nolte<br> Liam O'Connell<br> Mary Kay Pavuk<br> John Polinski<br> Rae Ann Rice<br> Brian Ruffner<br> Thomas C. Scherr<br> John Sidawi<br> Paul Smith<br> Peter Snook<br> Kyle Stewart<br> Randal Stuckwish<br> Mary Ellen Tesla<br> James Damen Thompson<br> Nicholas S. Tripodes<br> Anthony A. Venturino<br> Mark Weiss<br> George B. Wright<br> Christopher Wu |
| &nbsp;&nbsp;Assistant Vice Presidents: | &nbsp;&nbsp; Patrick Benacci<br> Brandon Ray Hochstetler<br> Christopher F. Hopkins<br> Jeff J. Ignelzi<br> Bennett L. Lo<br> Nick Navari<br> Bradley Payne<br> Braden Rotberg<br> John W. Scullion<br> Steven J. Slanika<br> Tyler R. Stenger<br> Patrick O. Watson<br> Michael S. Wilson<br> John E. Wyda |
| &nbsp;&nbsp;Secretary: | &nbsp;&nbsp;G. Andrew Bonnewell |
| &nbsp;&nbsp;Assistant Secretaries: | &nbsp;&nbsp; Edward C. Bartley<br> George F. Magera<br>|
| &nbsp;&nbsp;Treasurer: | &nbsp;&nbsp;Thomas R. Donahue |
| &nbsp;&nbsp;Assistant Treasurers: | &nbsp;&nbsp; Jeremy D. Boughton<br> Richard A. Novak |
| &nbsp;&nbsp;Chief Compliance Officer: | &nbsp;&nbsp;Stephen Van Meter |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Item 32. Principal Underwriters:** | &nbsp;&nbsp;**Item 32. Principal Underwriters:** |
| &nbsp;&nbsp;**(a)** | &nbsp;&nbsp;Federated Securities Corp., the Distributor for shares of the Registrant, acts as principal underwriter for the following investment companies, including the Registrant: |
|  | &nbsp;&nbsp;Federated Hermes Adjustable Rate Securities Trust |
|  | &nbsp;&nbsp;Federated Hermes Adviser Series |
|  | &nbsp;&nbsp;Federated Hermes Core Trust |
|  | &nbsp;&nbsp;Federated Hermes Core Trust III |
|  | &nbsp;&nbsp;Federated Hermes ETF Trust |
|  | &nbsp;&nbsp;Federated Hermes Equity Funds |
|  | &nbsp;&nbsp;Federated Hermes Equity Income Fund, Inc. |
|  | &nbsp;&nbsp;Federated Hermes Fixed Income Securities, Inc. |
|  | &nbsp;&nbsp;Federated Hermes Global Allocation Fund |
|  | &nbsp;&nbsp;Federated Hermes Government Income Securities, Inc. |
|  | &nbsp;&nbsp;Federated Hermes Government Income Trust |
|  | &nbsp;&nbsp;Federated Hermes High Income Bond Fund, Inc. |
|  | &nbsp;&nbsp;Federated Hermes High Yield Trust |
|  | &nbsp;&nbsp;Federated Hermes Income Securities Trust |
|  | &nbsp;&nbsp;Federated Hermes Index Trust |
|  | &nbsp;&nbsp;Federated Hermes Institutional Trust |
|  | &nbsp;&nbsp;Federated Hermes Insurance Series |
|  | &nbsp;&nbsp;Federated Hermes Intermediate Municipal Trust |
|  | &nbsp;&nbsp;Federated Hermes International Series, Inc. |
|  | &nbsp;&nbsp;Federated Hermes Investment Series Funds, Inc. |
|  | &nbsp;&nbsp;Federated Hermes Managed Pool Series |
|  | &nbsp;&nbsp;Federated Hermes MDT Series |
|  | &nbsp;&nbsp;Federated Hermes Money Market Obligations Trust |
|  | &nbsp;&nbsp;Federated Hermes Municipal Bond Fund, Inc. |
|  | &nbsp;&nbsp;Federated Hermes Municipal Securities Income Trust |
|  | &nbsp;&nbsp;Federated Hermes Premier Municipal Income Fund |
|  | &nbsp;&nbsp;Federated Hermes Project and Trade Finance Tender Fund |
|  | &nbsp;&nbsp;Federated Hermes Short-Intermediate Duration Municipal Trust |
|  | &nbsp;&nbsp;Federated Hermes Short-Intermediate Government Trust |
|  | &nbsp;&nbsp;Federated Hermes Short-Term Government Trust |
|  | &nbsp;&nbsp;Federated Hermes Total Return Government Bond Fund |
|  | &nbsp;&nbsp;Federated Hermes Total Return Series, Inc. |
|  | &nbsp;&nbsp;Federated Hermes World Investment Series, Inc. |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;(b) |  |  |
| &nbsp;&nbsp; (1)<br> Positions and Offices with Distributor | &nbsp;&nbsp; (2)<br> Name<br>| &nbsp;&nbsp; (3)<br> Positions and Offices With Registrant |
| &nbsp;&nbsp;Executive Vice President, Assistant Secretary and Director: | &nbsp;&nbsp;Thomas R. Donahue |  |
| &nbsp;&nbsp;President and Director: | &nbsp;&nbsp;Paul Uhlman |  |
| &nbsp;&nbsp;Vice President and Director: | &nbsp;&nbsp;Peter J. Germain |  |
| &nbsp;&nbsp;Director: | &nbsp;&nbsp;Frank C. Senchak |  |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp; (1)<br> Positions and Offices with Distributor | &nbsp;&nbsp; (2)<br> Name<br>| &nbsp;&nbsp; (3)<br> Positions and Offices With Registrant |
| &nbsp;&nbsp;Executive Vice Presidents: | &nbsp;&nbsp; Michael Bappert<br> Peter W. Eisenbrandt<br> Anne H. Kruczek<br> Amy M. Michaliszyn<br> Brian S. Ronayne |  |
| &nbsp;&nbsp;Senior Vice Presidents: | &nbsp;&nbsp; Irving Anderson<br> Christopher D. Berg<br> Daniel G. Berry<br> Jack Bohnet<br> Edwin J. Brooks, III<br> Bryan Burke<br> Scott J. Charlton<br> Steven R. Cohen<br> James S. Conley<br> Stephen R. Cronin<br> Charles L. Davis, Jr.<br> Jack C. Ebenreiter<br> James Getz, Jr.<br> Erik Gosule<br> Scott A. Gunderson<br> Dayna C. Haferkamp<br> Vincent L. Harper, Jr.<br> Bruce E. Hastings<br> Jeffrey S. Jones<br> Ryan W. Jones<br> Scott D. Kavanagh<br> Scott R. Kelley<br> Michael Koenig<br> Edwin C. Koontz<br> Jane E. Lambesis<br> Michael Liss<br> Judith J. Mackin<br> Brian McInis<br> Diane Marzula<br> Richard C. Mihm<br> Vincent T. Morrow<br> John C. Mosko<br> Alec H. Neilly<br> James E. Ostrowski<br> Stephen Otto<br> Richard P. Paulson<br> Richard A. Recker<br> Diane M. Robinson<br> Timothy A. Rosewicz<br> Eduardo G. Sanchez<br> Tom Schinabeck<br> Peter C. Siconolfi<br> Edward L. Smith<br> John A. Staley<br> Mark J. Strubel<br> William C. Tustin<br> G. Walter Whalen<br> Lewis C. Williams<br> Theodore E. Williams<br> Michael Wolff<br> Daniel R. Wroble<br> Erik Zettlemayer |  |
| &nbsp;&nbsp;Vice Presidents: | &nbsp;&nbsp; Frank Amato<br> Catherine M. Applegate<br> Kenneth C. Baber<br> Raisa E. Barkaloff<br> Robert W. Bauman<br> Marc Benacci<br> Joshua W. Billiel<br> Bill Boarts<br> Zachary Bono<br> Matthew A. Boyle<br> Thomas R. Brown<br> Ryan P. Cain<br> Mark Carroll<br> Dan Casey<br> Stephen J. Costlow<br> Mary Ellen Coyne<br> David G. Dankmyer<br> Christopher T. Davis<br> Michael DiMarsico<br> Charles R. Ebbs<br> Mark A. Flisek<br> Heather W. Froelich<br> David D. Gregoire<br> Raymond J. Hanley<br> George M. Hnaras<br> Scott A. Holick<br> Christopher Jackson<br> Todd Jones<br> Patrick Kelly<br> Nicholas R. Kemerer<br> Robert H. Kern<br> Shawn E. Knutson<br> Joseph R. Lantz<br> David M. Larrick<br> John S. Larson<br> Anthony W. Lennon<br> Justin Levy<br> John P. Liekar<br> Jonathan Lipinski<br> Paul J. Magan<br> Alexi A. Maravel<br> Meghan McAndrew<br> Samuel McGowan<br> Daniel McGrath<br> Mark J. Murphy<br> Ryan M. Newman<br> Catherine M. Nied<br> Ted Noethling<br> John A. O'Neill<br> Mark Patsy<br> Marcus Persichetti<br> Max E. Recker<br> Emory Redd<br> Matt Ryan<br> John Shrewsbury<br> Bradley Smith<br> John R. Stanley<br> Jonathan Sullivan<br> Gregory Tzanoukakis<br> James M. Wagner<br> David Wasik<br> Brian R. Willer<br> Littell Wilson Jr.<br> James J. Wojciak |  |
|  | &nbsp;&nbsp; Frank Amato<br> Catherine M. Applegate<br> Kenneth C. Baber<br> Raisa E. Barkaloff<br> Robert W. Bauman<br> Marc Benacci<br> Joshua W. Billiel<br> Bill Boarts<br> Zachary Bono<br> Matthew A. Boyle<br> Thomas R. Brown<br> Ryan P. Cain<br> Mark Carroll<br> Dan Casey<br> Stephen J. Costlow<br> Mary Ellen Coyne<br> David G. Dankmyer<br> Christopher T. Davis<br> Michael DiMarsico<br> Charles R. Ebbs<br> Mark A. Flisek<br> Heather W. Froelich<br> David D. Gregoire<br> Raymond J. Hanley<br> George M. Hnaras<br> Scott A. Holick<br> Christopher Jackson<br> Todd Jones<br> Patrick Kelly<br> Nicholas R. Kemerer<br> Robert H. Kern<br> Shawn E. Knutson<br> Joseph R. Lantz<br> David M. Larrick<br> John S. Larson<br> Anthony W. Lennon<br> Justin Levy<br> John P. Liekar<br> Jonathan Lipinski<br> Paul J. Magan<br> Alexi A. Maravel<br> Meghan McAndrew<br> Samuel McGowan<br> Daniel McGrath<br> Mark J. Murphy<br> Ryan M. Newman<br> Catherine M. Nied<br> Ted Noethling<br> John A. O'Neill<br> Mark Patsy<br> Marcus Persichetti<br> Max E. Recker<br> Emory Redd<br> Matt Ryan<br> John Shrewsbury<br> Bradley Smith<br> John R. Stanley<br> Jonathan Sullivan<br> Gregory Tzanoukakis<br> James M. Wagner<br> David Wasik<br> Brian R. Willer<br> Littell Wilson Jr.<br> James J. Wojciak |  |
| &nbsp;&nbsp;Assistant Vice Presidents: | &nbsp;&nbsp; Debbie Adams-Marshall<br> Edward R. Costello<br> Adina A. Davis<br> Madison Dischinger<br> Kristen C. Kiesling<br> Leah Kaitlin Leitzel<br> Stephen R. Massey<br> John K. Murray<br> Kathryn Ringer<br> Melissa R. Ryan<br> Carol Anne Sheppard<br> Scott A. Vallina<br> Laura Vickerman |  |
| &nbsp;&nbsp;Secretary: | &nbsp;&nbsp;Kary A. Moore |  |
| &nbsp;&nbsp;Assistant Secretaries: | &nbsp;&nbsp;Edward C. Bartley |  |
|  | &nbsp;&nbsp;Thomas R. Donahue |  |
|  | &nbsp;&nbsp;George F. Magera |  |
| &nbsp;&nbsp;Treasurer: | &nbsp;&nbsp;Richard A. Novak |  |
| &nbsp;&nbsp;Assistant Treasurer: | &nbsp;&nbsp;Jeremy D. Boughton |  |
| &nbsp;&nbsp;Chief Compliance Officer: | &nbsp;&nbsp;Stephen Van Meter |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)** Not Applicable

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Item 33. Location of Accounts and Records:** | &nbsp;&nbsp;**Item 33. Location of Accounts and Records:** |
| &nbsp;&nbsp;All accounts and records required to be maintained by Section 31(a) of the Investment Company Act of 1940 and Rules 31a-1 through 31a-3 promulgated thereunder are maintained at one of the following locations: | &nbsp;&nbsp;All accounts and records required to be maintained by Section 31(a) of the Investment Company Act of 1940 and Rules 31a-1 through 31a-3 promulgated thereunder are maintained at one of the following locations: |
| &nbsp;&nbsp;**Registrant** | &nbsp;&nbsp; Federated Hermes Funds<br> 4000 Ericsson Drive<br> Warrendale, PA 15086-7561<br> (Notices should be sent to the Agent for Service at the address listed on the facing page of this filing.) |
| &nbsp;&nbsp; **Federated Administrative Services** <br> (Administrator) | &nbsp;&nbsp; 1001 Liberty Avenue<br> Pittsburgh, PA 15222-3779 |
| &nbsp;&nbsp; **Federated Securities Corp.**<br> (Distributor) | &nbsp;&nbsp; 1001 Liberty Avenue<br> Pittsburgh, PA 15222-3779 |
| &nbsp;&nbsp; **Federated Investment Management Company**<br> (Adviser) | &nbsp;&nbsp; 1001 Liberty Avenue<br> Pittsburgh, PA 15222-3779 |
| &nbsp;&nbsp; **Federated Advisory Services Company**<br> (Adviser) | &nbsp;&nbsp; 1001 Liberty Avenue<br> Pittsburgh, PA 15222-3779 |
| &nbsp;&nbsp; **SS&C GIDS, Inc.**<br> (Transfer Agent and Dividend Disbursing Agent) | &nbsp;&nbsp; P.O. Box 219318<br> Kansas City, MO 64121-9318 |
| &nbsp;&nbsp;**State Street Bank and Trust Company**<br> (Custodian) | &nbsp;&nbsp; 1 Iron Street<br> Boston, MA 02110 |
| &nbsp;&nbsp;**Bank of New York Mellon<sup>1</sup>**<br> (Custodian) | &nbsp;&nbsp; The Bank of New York Mellon<br> One Wall Street<br> New York, NY 10286 |

---

**<sup>1</sup>** The Bank of New York serves as Custodian for the following portfolios: Federated Capital Reserves Fund, Federated Government Obligations Tax-Managed Fund, Federated Government Reserves Fund and Federated U.S. Treasury Cash Reserves.

**Item 34. Management Services:** Not applicable.

---

| |
|:---|
| **Item 35. Undertakings:** |
| Registrant hereby undertakes to comply with the provisions of Section 16(c) of the 1940 Act with respect to the removal of Trustees and the calling of special shareholder meetings by shareholders. |

---

---

| |
|:---|
| &nbsp;&nbsp; SIGNATURES<br> Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant, Federated Hermes Money Market Obligations Trust, has duly caused this Amendment to its Registration Statement to be signed on its behalf by the undersigned, duly authorized, in the City of Pittsburgh and Commonwealth of Pennsylvania, on the 21st day of March 2023. |
| &nbsp;&nbsp;**FEDERATED HERMES MONEY MARKET OBLIGATIONS TRUST** |
| &nbsp;&nbsp; BY: <u>/s/ George F. Magera</u><br> George F. Magera, Assistant Secretary |
| &nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this Amendment to its Registration Statement has been signed below by the following person in the capacity and on the date indicated: |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;NAME | &nbsp;&nbsp;TITLE | &nbsp;&nbsp;DATE |
| &nbsp;&nbsp; BY: <u>/s/ George F. Magera</u><br> George F. Magera, Assistant Secretary | &nbsp;&nbsp;Attorney In Fact For the Persons Listed Below | &nbsp;&nbsp;March 21, 2023 |
| &nbsp;&nbsp; J. Christopher Donahue\*<br>| &nbsp;&nbsp;President and Trustee (Principal Executive Officer) |  |
| &nbsp;&nbsp;Thomas R. Donahue\* | &nbsp;&nbsp;Trustee |  |
| &nbsp;&nbsp;Lori A. Hensler\* | &nbsp;&nbsp;Treasurer (Principal Financial Officer/Principal Accounting Officer) |  |
| &nbsp;&nbsp;John T. Collins\* | &nbsp;&nbsp;Trustee |  |
| &nbsp;&nbsp;G. Thomas Hough\* | &nbsp;&nbsp;Trustee |  |
| &nbsp;&nbsp;Maureen Lally-Green\* | &nbsp;&nbsp;Trustee |  |
| &nbsp;&nbsp;Thomas O'Neill\* | &nbsp;&nbsp;Trustee |  |
| &nbsp;&nbsp;Madelyn A. Reilly\* | &nbsp;&nbsp;Trustee |  |
| &nbsp;&nbsp;P. Jerome Richey\* | &nbsp;&nbsp;Trustee |  |
| &nbsp;&nbsp;John S. Walsh\* | &nbsp;&nbsp;Trustee |  |
| &nbsp;&nbsp;\*By Power of Attorney |  |  |

---

## Ex-99.H

Exhibit 28 (h) (3) under Form N-1A<br> Exhibit 10 under Item 601/Reg. S-K

**FOURTH AMENDED AND RESTATED**

**AGREEMENT**

**for**

**ADMINISTRATIVE SERVICES**

This Fourth Amended and Restated Agreement for Administrative Services (the "**Agreement**") is made, severally and not jointly, as of **September 1, 2022**, by each of the registered investment companies listed on **Exhibit A** hereto, each having its principal office and place of business at 4000 Ericsson Drive, Warrendale, Pennsylvania 15086 (collectively, the "**Investment Company**"), and FEDERATED ADMINISTRATIVE SERVICES, a Delaware statutory trust, having its principal office and place of business at Federated Hermes Tower, Pittsburgh, Pennsylvania 15222-3779 ("**FAS**"). The Agreement amends and restates in its entirety that Third Amended and Restated Agreement for Administrative Services by and between the Investment Company and FAS dated September 1, 2021, as amended, (the "**Superseded Agreement**").

**WHEREAS**, each investment company subject to this Agreement is registered as a management investment company under the Investment Company Act of 1940, as amended (the "**1940 Act**"), with authorized and issued shares of capital stock or beneficial interest ("**Shares**");

**WHEREAS**, certain investment companies subject to this Agreement are "series companies" as defined in Rule 18f-2 under the 1940 Act and, as used in this Agreement, the term "**Fund**" refers to either (i) an individual portfolio of such a series company or (ii) an investment company that is not organized as a series company, and the term "**Funds**" refers to all such portfolios and investment companies, collectively;

**WHEREAS**, certain of the Funds operate as exchange traded funds (each an **"ETF"**) in accordance with Rule 6c-11 under the 1940 Act (the **"ETF Rule"**);

**WHEREAS**, Shares of each Fund other than the ETFs may be subdivided into classes (each a "**Class**") as provided in Rule 18f-3 under the 1940 Act;

**WHEREAS**, the Investment Company wishes to appoint FAS as its administrator to provide it with Administrative Services (as herein defined) and FAS desires to accept such appointment;

**WHEREAS**, Investment Company and FAS are parties to the Superseded Agreement with respect to the subject matter hereof; and

**WHEREAS**, Investment Company and FAS desire to amend the Superseded Agreement by amending and restating the same in its entirety on the terms set forth herein;

**NOW THEREFORE**, in consideration of the premises and mutual covenants herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

**<u>Article 1. Appointment</u>.**

The Investment Company hereby appoints FAS as Administrator for the period on the terms and conditions set forth in this Agreement. FAS hereby accepts such appointment and agrees to furnish the services set forth in Article 2 of this Agreement in return for the compensation set forth in Article 5 of this Agreement.

**<u>Article 2. FAS Duties</u>.**

As Administrator, and subject to the supervision and control of the Investment Company's Board of Trustees/Directors (the "**Board**"), FAS will provide facilities, equipment, and personnel to perform or cause to be performed the following "**Administrative Services**" for operation of the business and affairs of the Investment Company and each of its Funds, as such Administrative Services are applicable to each Fund, and any additional Administrative Services that FAS shall agree in writing to perform, or cause to be performed, for the Investment Company with respect to any Fund from time to time:

**A. LEGAL AND COMPLIANCE ADMINISTRATIVE SERVICES**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Prepare, file, and maintain the Investment Company's governing documents and any amendments thereto, including
the charter documents, the by-laws and minutes of meetings of the Board, Board Committees and Shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Prepare and file with the Securities and Exchange Commission (the "**SEC**") and the appropriate
state securities authorities: (i) the registration statements for the Investment Company and the Investment Company's Shares and
all amendments thereto, (ii) annual and semi-annual reports to shareholders and other applicable regulatory reports and communications;
(iii) proxy materials; (iv) notices pursuant to Rule 24f-2; and (v) such other documents all as may be necessary to enable the Investment
Company to continuously offer its shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. For each Fund that is an ETF, prepare and file with NYSE Arca, Inc., the Cboe BZX Exchange, Inc., The
Nasdaq Stock Market LLC (each an **"Exchange"**), as applicable, (i) an initial listing application; and (ii) such other
documents, reports and filings as may be required by the applicable Exchange for the ETF to maintain the listing of its Shares on the
Exchange and to otherwise comply with the rules of the Exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Prepare and administer contracts on behalf of the Investment Company and supervise relationships with
the Investment Company's other service providers, including , the Investment Company's investment advisers, sub-advisers, fund accountants,
custodians, transfer agents, distributors, and in the case of ETFs, authorized participants, subject to any terms and conditions established
by the Board and the requirements of the 1940 Act, such supervision may include the engagement of outside consultants from time to time,
at FAS's expense, to review the relationship contracts and recommend changes designed to reduce Fund expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Provide due diligence of the Investment Company's other service providers, including, the Investment
Company's investment advisers, sub-advisers, fund accountants, custodians, transfer agents, distributors, and in the case of ETFs, authorized
participants, to the extent not otherwise provided by the Investment Company's other service providers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Arrange for and attend shareholders' meetings; prepare the Investment Company's representatives
who will attend shareholder meetings and all necessary materials in connection with such meetings including, a written script for such
meetings, minutes and any follow-up documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Provide the Investment Company with legal guidance with respect to its regulated activities, including
prospectus disclosures, investment activities, affiliated transactions, investment in senior securities, sales, redemptions and exchanges,
distribution of income and capital gains, distribution of Shares, Board composition, code of ethics, fidelity bond, custodial services
and service provider contracts and the general application of securities laws and regulations to the Investment Company's business
and provide or arrange for all other legal services that constitute Administrative Service required by the Investment Company and not
otherwise provided for under this Agreement (it being understood that various legal services will be provided to the Investment Company,
the Board and the Independent Trustees at the expense of the Investment Company, as described herein).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Supervise outside legal counsel retained at the expense of the Investment Company with respect to litigation
brought by the Investment Company (including participation in class-action lawsuits) and against the Investment Company and negotiate
litigation settlements and pre-litigation settlements and work-out arrangements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Obtain the required documentation to be filed in connection with any lawsuits against the Investment Company
and provide information and expertise on administrative matters affecting such litigation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Supervise outside legal counsel retained at the expense of the Investment Company with respect to, and
review all contracts, filings and required documentation concerning, the acquisition of other investment companies or the liquidation
of the Fund; provide guidance on the manner such transactions should be structured to comply with applicable law and obtain at the Investment
Company's expense, legal opinions and regulatory authority rulings necessary for such transactions to comply with applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Using reasonable judgement and subject to any terms and conditions established by the Board and the requirements
of the 1940 Act and in consultation with Fund Treasury, determine on behalf of the Investment Company whether or not to participate in
domestic and/or offshore class-action lawsuits in which the Investment Company is eligible to participate, and provide guidance to Fund
Treasury regarding the Investment Company's participation in any such class-action lawsuits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. Seek formal guidance from regulatory authorities concerning the application of various regulations to
the Investment Company and seek exemptive relief, where appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. Subject to the Board's direction, coordinate meetings of the Board (and its committees), including:
(i) the creation of notices, agendas, legal memoranda and administrative reports, and (ii) the review and compilation of other materials
prepared by the Investment Company's adviser, distributor, portfolio accountant, custodian, transfer agent, auditor, independent
counsel or other service providers to support the Board's discussions and actions taken.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. Negotiate and secure for the Investment Company and its directors and officers: (i) a fidelity bond
in an amount that is at least adequate to satisfy the requirements of the 1940 Act, (ii) directors and officer's coverage and (iii)
professional liability or errors and omissions coverage, in each case, under terms that are acceptable to the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. Monitor changes in applicable regulations and make corresponding changes in, or develop new, policies
and procedures for the Fund or for the applicable service provider.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. Prepare, review and negotiate standard forms of indentures, guarantees, agreements, certificates, confirmations
and other documentation relating to the legal terms of securities eligible for purchase by money market funds, provided that FAS shall
not have any obligation to: (i) provide any written legal opinions regarding such securities; or (ii) prepare, review or negotiate any
document for which a standard form has not been developed and accepted for use by the investment company industry.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17. Perform the following "blue sky" services, either itself or through one or more affiliated
or unaffiliated service providers: (1) provide a system to monitor the total number of Shares of the Investment Company (and/or Class)
sold in each State, (2) monitor the total number of Shares of such Investment Company (and/or Class) sold in each State and, where appropriate,
increase the number of Shares registered in such State, (3) with respect to shareholders of the Investment Company whose shareholdings
are fully-disclosed on the transfer agent's recordkeeping system, (a) identify those transactions and assets to be treated as exempt
from blue sky reporting for each State and (b) verify the classification of transactions for each State on the transfer agent's
recordkeeping system, and (4) with respect to shareholders of the Investment Company whose shareholdings are not fully-disclosed on the
transfer agent's recordkeeping system, rely upon information provided by the relevant financial intermediary transacting for such
holder of Shares in performing the obligations set forth in subsection (2) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18. Provide compliance services, as directed by the Investment Company's Chief Compliance Officer, which
include monitoring the Investment Company's compliance with its policies and procedures, and with applicable federal, state and
foreign securities laws, the rules and regulations thereunder, and the rules of the Exchanges, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19. For each Fund that is an ETF, administer and maintain the availability of the website required for each
ETF by the ETF Rule. In such capacity, FAS will, among other things, contract with a third party service provider for or otherwise arrange
for access to, and publish all information required by the ETF Rule on the website on each business day in accordance with the ETF Rule
and the applicable Fund policies and procedures. Such information includes: (i) before the opening of regular trading on the primary listing
Exchange of the Fund's shares, the following information for each portfolio holding that will form the basis of the next calculation
of the Fund's net asset value (**"NAV"**): (a) Ticker symbol, (b) CUSIP or other identifier, (c) description of holding,
(d) quantity of each security or other asset held, and (e) percentage weight of the holding in the portfolio; (ii) the Fund's NAV,
market price, and the premium or discount at which the it is trading, each as of the end of the prior business day, on a daily basis;
(iii) the Fund's median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, over the most recent 30 calendar
days; (iv) a table showing the number of days the Fund's shares traded at a premium or discount during the most recently completed
calendar year and for the most recently completed calendar quarter(s) of the current year (or the life of the Fund, if shorter); (v) a
line graph showing the Fund's premiums and discounts for the most recently completed calendar year and for the most recently completed
calendar quarter(s) of the current year (or the life of the Fund, if shorter); and (vi) if the share premium or discount at which the
Fund is trading is greater than 2% for more than seven consecutive trading days, a statement that the Fund's premium or discount,
as applicable, was greater than 2% and a discussion of the factors that are reasonably believed to have materially contributed to the
premium or discount (this information must be posted on the website on the day immediately after the disclosure requirement is triggered
and must remain on the Fund's website for one year after its initial posting).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20. Administer the Investment Company's code of ethics.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21. Monitor the Investment Company's compliance with its investment policies, objectives and restrictions
as set forth in its currently effective registration statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22. Implement and maintain, together with affiliated companies, a business continuation and disaster recovery
program for the Investment Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23. Assist the Investment Company in regulatory examinations, inspections or investigations of the Investment
Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24. Provide the following administrative and compliance services with regard Commodity Futures Trading Commission
(" **CFTC**") Rule 4.5 (as may be amended from time to time): (i) monitor the Investment Company's compliance with
the rule; (ii) with respect to those Funds that are required under the rule to register as 'commodity pools' from time to
time (the "**Registered Funds**") prepare, file and maintain the Registered Funds' registrations with the CFTC or
applicable self-regulatory authority, as appropriate; (iii) with respect to those Funds that are subject to the rule but qualify for an
exemption from registration as 'commodity pools', prepare, file and monitor the companies' exemptive filings with the
CFTC or applicable self-regulatory authority, as appropriate; (iv) in relation to the Registered Funds' commodity pool status, prepare,
file and maintain the Registered Funds advisers' registrations as 'commodity pool operators' ()"**CPOs** ")
and prepare and file such reports as are required to be filed by the CPOs with the CFTC or applicable self-regulatory authority, as appropriate;
and (v) any additional administrative and compliance services with regard to the Investment Company's and CPOs' CFTC Rule
4.5 activities, as directed by the Investment Company's Chief Compliance Officer, from time to time (collectively, "**CFTC Rule 4.5 Administrative Services** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25. Provide administrative and compliance support services, as requested by the Derivatives Risk Management
Administrator, for those Funds that transact in derivatives, which includes monitoring compliance with policies and procedures and applicable
laws, rules and regulations.

**B.** **FINANCIAL ADMINISTRATIVE SERVICES** 

1. Prepare and file the Investment Company's tax returns.

2. Evaluate and obtain custody services from a financial institution that meets the requirements of the 1940
Act.

3. Compare, as applicable, the fund accountant's calculation of the Investment Company's net
asset value, yield, dividends, fund total return and performance and total assets with the fund accountant's previous calculations
and with changes in the relevant securities market on a daily basis for reasonableness of changes.

4. With respect to each Fund that is an ETF, contract for and coordinate the intra-day publication, every
15 seconds throughout the trading day, through the facilities of the Consolidated Tape Association an amount (sometimes referred to as
the **"INAV"**) equal to the sum of the current value of the portfolio positions as reflected in the Fund Deposit (as defined
in the Fund's prospectus) divided by the number of Fund shares outstanding.

5. Review and compare, as applicable, the calculation of the Investment Company's average maturity
with the previous calculations for reasonableness of changes.

6. Support the Investment Company's investment advisers as the "Valuation Designees" under Rule
2a-5 of the 1940 Act. Evaluate and recommend the pricing services used by the Investment Company; support the fair valuation of portfolio
securities as required by the Investment Company's fair valuation procedures; review and recommend changes to the Investment Company's
fair valuation procedures.

7. Compare the fund accountant's calculations of the Investment Company's undistributed net income
balances with the fund accountant's previous calculations for reasonableness of changes.

8. Perform daily reviews, as applicable, of the fund accountant's shadow net asset value calculations
with the previous calculations for reasonableness of changes; notify designated parties, as necessary, of deviations in compliance with
the Investment Company's Rule 2a-7 procedures, if any.

9. Perform monthly comparison of the fund accountant's performance calculations with previous calculations
for reasonableness of changes.

10. Perform quarterly comparison of the fund accountant's projected annual fund expenses with previous
projections for reasonableness of changes; prepare monthly budgets for specific expense categories to be used in monthly updates to the
Investment Company's expense accruals and projections.

11. Review fund expense reports prepared by the fund accountant; monitor compliance with the expense limits
stated in the prospectus fee tables, including disclosure regarding which expense categories should be accrued in addition to the expense
limits.

12. Coordinate and track the payment of all fund expenses that are paid directly by the Fund by the Investment
Company's fund accountant. With respect to each Fund that is an ETF, review and monitor the payment of all fund expenses paid by
the investment adviser to the ETF under the terms of the Investment Advisory Agreement with the Fund to confirm payment.

13. Compare the fund accountant's calculation of dividend recommendations with previous recommendations
for reasonableness of changes; consult with portfolio managers concerning recommendations for fixed dividend resolution funds.

14. Calculate and determine capital gain distributions, if any, for the Investment Company.

15. Review the fund accountant's calculations for shareholder tax reporting of assets under management
(**"AUM"**) income percentages, state income percentages and government income percentages.

16. Monitor and confirm the Investment Company's status as a regulated investment company under the
current Internal Revenue Code ()"**IRC** "); monitor and confirm compliance with IRC section 817(h) diversification requirements,
as applicable.

17. Review and/or prepare, for shareholder tax reporting purposes, as applicable, (i) calculations for qualifying
dividend income (QDI), dividends received deduction (DRD), qualified business interest income for purposes of shareholders' IRC
Section 163J business interest expense deductions, if applicable, and interest-related and short-term capital gain dividends (QII), (ii)
IRC section 1250 gain amounts, as well as assessing compliance with various states' threshold requirements for reporting certain
tax characteristics to shareholders in those states, and (iii) and monitor, review and track the tax basis of the securities in each Fund's
portfolio securities, and, with respect to each Fund that is an ETF, provide such information on a real time basis to the portfolio management
team for use in the portfolio management process.

18. Supervise relationship with fund financial service providers (e.g., custodians, accounting and audit firms,
tax specialists, etc.) and the services provided to the Investment Company, including foreign tax reclaims, and relief at source and stamp
duty refunds. Participate in the negotiation of service providers' contracts and fees for such services, and provide assistance
to service providers (e.g., providing requested data), as needed.

19. Supervise fund accountant's compilation of semi-annual and annual reports in accordance with required
accounting standards, and provide review and needed assistance regarding certain disclosures, auditor requests and other information to
facilitate the timely completion of the annual audits. Manage the Sarbanes-Oxley Section 302 certification process and respond to related
regulator inquiries as needed.

20. Manage relationships with the respective independent audit firms, including the annual negotiation of
the engagement letters and fees.

21. Using reasonable judgement and subject to any terms and conditions established by the Board and the requirements
of the 1940 Act and in consultation with Legal, determine on behalf of the Investment Company whether or not to participate in domestic
and/or offshore class-action lawsuits in which the Investment Company is eligible to participate.

22. Coordinate the Investment Company's participation in any class-action lawsuits, including the information
flow among the Investment Company's third-party class-action service provider, the relevant "Claims Administrator" in
a given action, the fund accountants, and fund advisors, and assist in resolving any data discrepancies that may arise in filing a claim.

23. Processes any settlement proceeds recovered by the Investment Company as a result of a class-action lawsuits.

**C.** **OTHER ADMINISTRATIVE SERVICES** 

1. Coordinate the layout, printing and electronic delivery of publicly disseminated prospectuses and shareholder
reports, make recommendations to improve their effectiveness or reduce expenses.

2. Perform internal audit examinations in accordance with a charter adopted by the Investment Company.

3. Monitor enterprise level risks associated with the services provided herein in accordance with a charter
adopted by Investment Company.

4. Develop and recommend changes in the investment strategy and operation of the Investment Company that
may be in the interest of its Shareholders.

5. Provide individuals reasonably acceptable to the Board for nomination, appointment, or election as the
following officers of the Investment Company, who will be responsible for the management of certain of the Investment Company's affairs
as specified in the Investment Company's charter documents and by-laws, subject to direction by the Board: (i) the president and
principal executive officer, (ii) the treasurer and principal financial and accounting officer; (iii) the secretary, and (iv)
such other officers as are mutually agreeable.

6. For each Fund that is not an ETF, monitor trading activity to help identify market timers and recommend
policies to deter market timing.

7. For each Fund that is not an ETF, review potential intermediary clients and existing intermediary clients
as appropriate to determine/monitor the client's ability to adhere to the terms of any servicing agreement between the client and
Investment Company.

8. For each Fund that is an ETF, review potential authorized participants and existing authorized participants
as appropriate to determine/monitor the authorized participant's ability to adhere to the terms of the authorized participant agreement
between the authorized participant and the Fund's distributor.

9. Review and recommend changes to the transfer agent's policies and procedures to mitigate fraud,
enhance shareholder services or reduce expenses.

10. Review and recommend changes to policies and procedures and operating processes designed to reduce Fund
expenses.

11. Respond to all inquiries or other communications from shareholders and other parties, not otherwise provided
by the Investment Company's other service providers; if the inquiry is more properly responded to by another of the Investment Company's
service providers, referring the individual making the inquiry to the appropriate person.

12. Provide services and support, as requested by the Responsible Investing Office ()"**RIO** "),
in relation to environmental, social and governance ("ESG") investing by the Funds, which include monitoring compliance with
its policies and procedures with all applicable laws, rules and regulations.

13. Perform the following services for each Fund, as applicable, either itself
or through its affiliate, Federated Shareholder Services company; (i) select and perform due diligence regarding proposed new owners of
omnibus accounts as proposed recordkeeping agents for the Investment Company, (ii) enter into agreements as agent for the Investment Company,
or any of them, substantially in the form most recently approved by the Board, with the registered owners of omnibus accounts for the
provision of services necessary for the recordkeeping or sub-accounting of share positions held in underlying sub-accounts ()"**Recordkeeping Agreements** "), together with such changes thereto as may be agreed to by FAS so long as such changes do not (a) increase the
fees payable by the Investment Company under the Recordkeeping Agreements, (b) alter the indemnity obligations of the Investment Company
owing to or from the Investment Company thereunder or (c) otherwise materially alter the obligations of the Investment Company under the
Recordkeeping Agreements, (iii) agree, on behalf of the Investment Company, to make payments for services rendered under Recordkeeping
Agreements out of the assets of the Investment Company in amounts not to exceed the amounts determined from time to time by the Board,
and (iv) give instructions to the transfer agent of the Investment Company (the "**Transfer Agent** "), for and on behalf
of the Investment Company as "**Proper Instructions**" of the Investment Company under and pursuant to the agreement for
transfer agency services with the Transfer Agent, to perform the services of Company and/or the Investment Company under each such Recordkeeping
Agreement, excepting only the indemnity obligations owning from the Investment Company or Company thereunder.

**D. SUBCONTRACTORS**

1. FAS may without further consent on the part of the Investment Company at FAS's own expense, subcontract
for the performance of Administrative Services with a sub-contractor selected by FAS. FAS shall be as fully responsible to the Investment
Company for the acts and omissions of any subcontractor as it is for its own acts and omissions.

***2.*** FAS shall upon instruction from the Investment Company subcontract for the
performance of services under this Agreement with an agent selected by the Investment Company, other than as described in D.1. above,
provided, however, that FAS shall in no way be responsible to the Investment Company for the acts and omissions of the agent and the expenses
of such agent shall be the responsibility of FAS or the Investment Company, as the parties may agree from time to time.

**<u>Article 3. Records</u>.**

FAS shall create and maintain all necessary books and records in accordance with all applicable laws, rules and regulations, including records required by Section 31(a) of the 1940 Act, pertaining to the Administrative Services performed by it and not otherwise created and maintained by another party pursuant to contract with the Investment Company. Where applicable, such records shall be maintained by FAS for the periods and in the places required by Rule 31a-2 under the 1940 Act. The books and records pertaining to the Investment Company which are in the possession of FAS shall be the property of the Investment Company. The Investment Company, or the Investment Company's authorized representatives, shall have access to such books and records at all times during FAS's normal business hours. Upon the reasonable request of the Investment Company, copies of any such books and records shall be provided promptly by FAS to the Investment Company or the Investment Company's authorized representatives.

**<u>Article 4. Expenses.</u>**

A. FAS shall be responsible for all expenses (i) expressly assumed by FAS under this Agreement; (ii) incurred
in the ordinary course of providing (or causing to be provided) the Administrative Services, including CFTC Rule 4.5 Administrative Services,
to the Investment Company and the equipment, office space, and facilities necessary to perform its obligations under this Agreement; and
(iii) incurred in maintaining its staff and personnel, including the compensation of FAS employees who serve as trustees or directors
or officers of the Investment Company.

B. Each Fund shall be solely responsible for (i) all expenses expressly assumed by the Funds under this Agreement;
(ii) all other fees and expenses incurred in the operation of the Funds, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) investment advisory fees and expenses associated with the investment management of the Fund's portfolios;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) shareholder servicing, recordkeeping and distribution and marketing expenses of the Funds (including expenses incurred in routing shareholder services fees, recordkeeping fees and distribution fees to third-party intermediaries);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) expenses for transfer agent(s), registrar(s) and dividend disbursing agent(s);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) expenses for custodian(s) and related custodial services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) costs of Fund accounting services provided by third parties to the Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) costs of services provided by independent auditors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) costs and services of outside legal and tax counsel (other than counsel sub-contracted with by FAS to perform services under this Agreement) and counsel to the Funds and the Independent Trustees;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) ratings agency fees;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) costs related to short selling (e.g., prime brokerage fees);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) postage and courier expenses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) printing expenses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) expenses for XRBL tagging and regulatory document production (e.g., ArcPro) provided by third parties;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) travel and lodging expenses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) Fund registration fees, listing fees and filing fees and other Fund organizational expenses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) taxes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) insurance premiums;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) costs, including interest expenses, commitment fees, facilities fees and unused line fees of any borrowings made by the Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) fees payable to persons who are not FAS employees and not FAS subcontractors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) Fund-allocation of trade association dues;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) expenses of obtaining quotations and other pricing information for calculating the value of the Fund's net assets, including the Fund-allocation of costs of independent pricing services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) expenses related to the Fund's Directors and Fund Board meetings, including travel, Director's fees and costs of electronic board books;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) fees charged by third party custodians for calculating Form N-PORT and Form N-CEN information requirements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) expenses incurred in connection with bankruptcies, workouts and restructures, proceedings and other claims against the Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) costs of third-party legal, tax, accounting or other expert advice incurred in connection with any litigation, threatened litigation or other regulatory proceeding, by or against the Funds (including a Fund's participation in a class-action lawsuit), including third-party record-retention costs related to litigation holds; (y) professional fees associated with tax reclaims, relief at source, stamp duty or other similar services provided by vendors such as accounting and legal firms or other providers specializing in such services; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) any other expenses approved from time to time by the Fund's Board as properly payable by the Funds (any such expenses under (i), (ii) and (iii) reasonably incurred by FAS on the Fund's behalf "**Out of Pocket Expenses**") provided that, any Out of Pocket Expenses incurred by FAS that are payable to or by an affiliate of FAS will not be duplicative of services to be provided by those affiliates under any other agreement with the Funds.

C. Notwithstanding the foregoing, FAS and the Investment Company with respect to each Fund that is an ETF
acknowledge, understand and agree that the investment adviser to a Fund that is an ETF may be responsible for making payment for certain
Fund expenses identified above under the unitary fee terms of the investment advisory agreement with respect to a Fund (each a **"Unitary Fee Agreement"**).

**<u>Article 5. Compensation.</u>**

A. In addition to Out of Pocket Expenses, for the Administrative Services provided hereunder, excluding CFTC
Rule 4.5 Administrative Services, the Investment Company hereby agrees to pay, or to cause the Fund's investment adviser to pay
in accordance with the applicable Unitary Fee Agreement, and FAS hereby agrees to accept as full compensation for such services a pro
rata "**Administrative Services Fee**" at the annual rates set forth below on the average daily net assets of each Fund
listed on Exhibit A to this Agreement; provided however, that no Administrative Services Fee will be charged for those Funds also listed
on Exhibit B to this Agreement.

---

| | |
|:---|:---|
| **Administrative Services Fee Rate** | **Average Daily Net Assets <br> of the Investment Complex** |
| 0.100% | up to $50 billion |
| 0.075% | on assets over $50 billion |

---

For purposes of calculating the applicable breakpoint under this Agreement, "Investment Complex" is defined as those Funds listed on Exhibit A to this Agreement but not also listed on Exhibit B.

For purposes of implementing changes to the effective Administrative Services Fee rate, if any, changes to the effective rate will begin accruing on the first calendar day of the month following a calculated change equal to no less than 0.001% and only after such change remains static for at least 15 calendar days, provided the 15th day does not fall after approximately the 20th calendar day of the same month. Otherwise, any changes to the effective rate will begin accruing on the first calendar day of the second month following such calculated change.

For the CFTC Rule 4.5 Administrative Services provided hereunder, each Registered Fund agrees to pay, or to cause the Fund's investment adviser to pay in accordance with the applicable Unitary Fee Agreement, and FAS hereby agrees to accept as full compensation for such services, an annual "**Administrative Service Charge**" of $125,000 per Registered Fund.

&nbsp;&nbsp;&nbsp;&nbsp;B. The Administrative Services Fee, Administrative Services Charge and Out
of Pocket Expenses attributable to each Fund shall be accrued by such Fund and paid to FAS by the Fund or investment adviser, as applicable,
no less frequently than monthly, and shall be paid daily upon request of FAS. For the payment period in which this Agreement becomes effective
or terminates with respect to any Fund, there shall be an appropriate proration of Administrative Service Fee and Administrative Service
Charge payments, on the basis of the number of days that this Agreement is in effect during the month. FAS will maintain detailed information
about the Administrative Services Fee, Administrative Service Charge and Out of Pocket Expenses paid by each Fund.

**<u>Article 6. Standard of Care and Indemnification.</u>**

A. FAS shall not be liable for any error of judgment or mistake of law or for any loss suffered by the Investment
Company in connection with the matters to which this Agreement relates, except a loss resulting from willful misfeasance, bad faith or
gross negligence on its part in the performance of its duties or from reckless disregard by it of its duties under this Agreement. Any
person, even though also an officer, director, trustee, partner, employee or agent of FAS, who may be or become an officer, director,
trustee, partner, employee or agent of the Investment Company, shall be deemed, when rendering services to the Investment Company or acting
on any business of the Investment Company (other than services or business in connection with the duties of FAS hereunder) to be rendering
such services to or acting solely for the Investment Company and not as an officer, director, trustee, partner, employee or agent or one
under the control or direction of FAS, even though paid by FAS.

B. FAS shall be kept indemnified by the Investment Company and be without liability for any action taken
or thing done by it in performing the Administrative Services in accordance with the above standards.

C. FAS shall not be responsible for and the Investment Company or Fund shall indemnify and hold FAS, including
its officers, directors, shareholders and their agents, employees and affiliates, harmless against any and all losses, damages, costs,
charges, counsel fees, payments, expenses and liabilities arising out of or attributable to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The acts or omissions of any custodian, adviser, sub-adviser, fund accountant, distributor, transfer agent
or other party contracted by or approved by the Investment Company or Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The reliance on or use by FAS or its agents or subcontractors of information, records and documents in
proper form which:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) are received by FAS or its agents or subcontractors from any adviser, sub-adviser, fund accountant, distributor, transfer agent or other third party contracted by or approved by the Investment Company or Fund for use in the performance of services under this Agreement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) have been prepared and/or maintained by the Investment Company or its affiliates or any other person or firm on behalf of the Investment Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The reliance on, or the carrying out by FAS or its agents or subcontractors of a Proper Instruction of
the Investment Company or the Fund.

**"Proper Instruction"** means a writing signed or initialed by one or more person or persons as the Board shall have from time to time authorized. Each such writing shall set forth the specific transaction or type of transaction involved. Oral instructions will be deemed to be Proper Instructions if (a) FAS reasonably believes them to have been given by a person previously authorized in Proper Instructions to give such instructions with respect to the transaction involved, and (b) the Investment Company, or the Fund, and FAS promptly cause such oral instructions to be confirmed in writing. Proper Instructions may include communications effected directly between electro-mechanical or electronic devices provided that the Investment Company, or the Fund, and FAS are satisfied that such procedures afford adequate safeguards for the Fund's assets. Proper Instructions may only be amended in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The offer or sale of Shares in violation of any requirement under the federal securities laws or regulations
or the securities laws or regulations of any state that such Shares be registered in such state or in violation of any stop order or other
determination or ruling by any federal agency or any state with respect to the offer or sale of such Shares in such state.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Any untrue statement or alleged untrue statement of a material fact contained in the Investment Company's
registration statement, any prospectus or statement of additional information ()"**SAI**") (as from time to time amended
or supplemented) or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the
statements therein not misleading, unless such statement or omission was made in reliance upon and in conformity with written information
furnished to the Investment Company about FAS by or on behalf of FAS expressly for the use in the registration statement, any prospectus
or SAI, or any amendment or supplement thereof.

Provided, however, that FAS shall not be protected by this Article 6.C. from liability for any act or omission resulting from FAS's willful misfeasance, bad faith, gross negligence in the performance of or reckless disregard of its duties under this Agreement.

D. At any time FAS may apply to any officer of the Investment Company or Fund for instructions, and may consult
with legal counsel or the Investment Company's independent accountants with respect to any matter arising in connection with the
services to be performed by FAS under this Agreement, and FAS and its agents or subcontractors shall not be liable and shall be indemnified
by the Investment Company or the appropriate Fund for any action reasonably taken or omitted by it in reliance upon such instructions
or upon the opinion of such counsel or independent accountant provided such action is not in violation of applicable federal or state
laws or regulations.

E. The Investment Company or Fund shall not be responsible for and FAS shall indemnify and hold the Investment
Company or Fund harmless against any and all losses, damages, costs, charges, counsel fees, payments, expenses and liabilities arising
out of or attributable to FAS's willful misfeasance, bad faith or gross negligence on its part in the performance of its duties
or reckless disregard by it of its duties under this Agreement.

F. In order that the indemnification provisions contained in this Article 6 shall apply, upon the assertion
of a claim for which any party may be required to indemnify another, the party seeking indemnification (the "**Claimant** "),
shall promptly notify the indemnifying party (the "**Indemnifier**") of such assertion. It is further understood that each
party will use all reasonable care to identify and notify the Indemnifier promptly concerning any situation that presents or appears likely
to present the probability of such a claim for indemnification against the Indemnifier, provided that the failure to give notice as required
by this paragraph 6.F. in a timely fashion shall not result in a waiver of any right to indemnification hereunder unless the Indemnifier
is prejudiced thereby and then only to the extent of such prejudice. The Claimant shall permit the Indemnifier to assume the defense of
any such claim or any litigation resulting from it, provided that Indemnifier's counsel that is conducting the defense of such claim
or litigation shall be approved by the Claimant (which approval shall not be unreasonably withheld), and that the Claimant may participate
in such defense at its expense.

The Indemnifier, in the defense of any such claim or litigation, shall not, without the consent of the Claimant, consent to entry of any judgment or enter into any settlement that does not include as an unconditional term the giving by the alleging party or plaintiff to the Claimant of a release from all liability in respect to such claim or litigation.

**<u>Article 7. Assignment.</u>**

A. This Agreement shall inure to the benefit of and be binding upon the parties and their respective permitted
successors and assigns.

B. FAS may, without further consent on the part of the Investment Company,
assign its rights and obligations under this Agreement to any entity ultimately controlled by Federated Hermes, Inc.

C. Except as provided in Paragraph 7.B., FAS may not assign its rights and obligations under this Agreement,
whether directly or by operation of law, without the prior written consent of the Investment Company, which consent may not be unreasonably
withheld.

**<u>Article 8. Representations and Warranties.</u>**

FAS represents and warrants to the Investment Company that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. It is a statutory trust duly organized and existing and in good standing under the laws of the state of
Delaware;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. It is duly qualified to carry on its business in each jurisdiction where the nature of its business requires
such qualification, and in the state of Delaware;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. It is empowered under applicable laws and by its Declaration of Trust and by-laws to enter into and perform
this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. All requisite corporate proceedings have been taken to authorize it to enter into and perform its obligations
under this Agreement.

**<u>Article 9. Term and Termination of Agreement.</u>**

A. This Agreement shall be effective from the date set forth above and shall continue indefinitely with respect
to each Investment Company and Fund until terminated as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. the Agreement may be terminated by FAS at any time, without payment of any penalty, upon eighteen (18)
months' written notice to the Investment Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. the Agreement may be terminated by the Investment Company at any time, without payment of any penalty,
upon eighteen (18) months' written notice to FAS; however, in the event, of willful misfeasance, bad faith, gross negligence or
reckless disregard of its duties by FAS, the Investment Company may terminate the Agreement upon 60 days' written notice to FAS,
provided that FAS has not cured such willful misfeasance, bad faith, gross negligence or reckless disregard of its duties within the 60
day period of such notice of termination.

B. The termination of this Agreement with respect to one Investment Company or Fund shall not result in the
termination of this Agreement with respect to any other Investment Company or Fund. Investment Companies that merge or dissolve during
the term of the Agreement, shall, upon payment of all outstanding fees and Out of Pocket Expenses, cease to be a party on the effective
date of such merger or dissolution.

C. Articles 6 and 19, 20, 21 and 22 shall survive the termination of this Agreement.

**<u>Article 10. Amendment.</u>**

This Agreement may be amended or modified only by a written agreement executed by both parties.

**<u>Article 11. Interpretive and Additional Provisions.</u>**

In connection with the operation of this Agreement, FAS and the Investment Company may from time to time agree on such provisions interpretive of or in addition to the provisions of this Agreement as may in their joint opinion be consistent with the general tenor of this Agreement. Any such interpretive or additional provisions shall be in a writing signed by both parties and shall be annexed hereto, provided that no such interpretive or additional provisions shall contravene any applicable federal or state regulations or any provision of any charter document.

Unless the context clearly requires otherwise, "includes," "including" and similar terms are intended to connote illustrative examples and shall be construed as being followed by ", without limitation,".

**<u>Article 12. Governing Law.</u>**

This Agreement shall be construed and the provisions hereof interpreted under and in accordance with the laws of the Commonwealth of Pennsylvania without giving effect to any conflicts or choice of laws rule or provision that would result in the application of the domestic substantive laws of any other jurisdiction.

**<u>Article 13. Notices.</u>**

Except as otherwise specifically provided herein, notices and other writings delivered or mailed postage prepaid to the Investment Company at 4000 Ericsson Drive, Warrendale, Pennsylvania 15086, or to FAS at Federated Hermes Tower, Pittsburgh, Pennsylvania, 15222-3779, or to such other address as the Investment Company or FAS may hereafter specify, shall be deemed to have been properly delivered or given hereunder to the respective address.

**<u>Article 14. Counterparts.</u>**

This Agreement may be executed simultaneously in two or more counterparts, each of which shall be deemed an original.

**<u>Article 15. Merger of Agreement.</u>**

This Agreement constitutes the entire agreement between the parties hereto and supersedes any prior agreement with respect to the subject hereof whether oral or written.

**<u>Article 16. Successor Administrator.</u>**

If a successor Administrator for the Investment Company shall be appointed by the Investment Company, FAS shall upon termination of this Agreement deliver to such successor Administrator at the office of FAS all properties of the Investment Company held by it hereunder. If no such successor Administrator shall be appointed, FAS shall at its office upon receipt of Proper Instructions deliver such properties in accordance with such instructions.

Each Fund will bear all out-of-pocket expenses arising from the transition of Administrative Services to a successor Administrator, including the expenses of moving or transmitting materials to the successor Administrator.

**<u>Article 17. Force Majeure.</u>**

If either party is unable to carry out any of its obligations under this Agreement because of conditions beyond its reasonable control, including, acts of war or terrorism, work stoppages, fire, civil disobedience, delays associated with hardware malfunction or availability, riots, rebellions, storms, electrical failures, epidemic, pandemic, acts of God, and similar occurrences ("**Force Majeure**"), this Agreement will remain in effect and the non-performing party's obligations shall be suspended without liability for a period equal to the period of the continuing Force Majeure (which such period shall not exceed fifteen (15) business days), provided that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. the non-performing party gives the other party prompt notice describing
the Force Majeure, including the nature of the occurrence and its expected duration and, where reasonably practicable, continues to furnish
regular reports with respect thereto during the period of Force Majeure;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. the suspension of obligations is of no greater scope and of no longer duration
than is required by the Force Majeure;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. no obligations of either party that accrued before the Force Majeure are
excused as a result of the Force Majeure; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. the non-performing Party uses reasonable efforts to remedy its inability
to perform as quickly as possible.

**<u>Article 18. Severability.</u>**

In the event any provision of this Agreement is held illegal, void or unenforceable, the balance shall remain in effect.

**<u>Article 19. Limitations of Liability of the Board and Shareholders of the Investment Company.</u>**

The execution and delivery of this Agreement have been authorized by the Board of the Investment Company and signed by an authorized officer of the Investment Company, acting as such, and neither such authorization by the Board nor such execution and delivery by such officer shall be deemed to have been made by any of them individually or to impose any liability on any of them personally, and the obligations of this Agreement are not binding upon any member of the Board or Shareholders of the Investment Company, but bind only the property of the Fund, or Class, as provided in the Declaration of Trust.

**<u>Article 20. Limitations of Liability of Trustees and Shareholders of the Company.</u>**

The execution and delivery of this Agreement have been authorized by the Trustees of FAS and signed by an authorized officer of FAS, acting as such, and neither such authorization by such Trustees nor such execution and delivery by such officer shall be deemed to have been made by any of them individually or to impose any liability on any of them personally, and the obligations of this Agreement are not binding upon any of the Trustees or Shareholders of FAS, but bind only the property of FAS, as provided in FAS's Declaration of Trust.

**<u>Article 21. Confidential Information.</u>**

(a) **Definition.** Each party shall safeguard and hold confidential from disclosure to unauthorized parties all Confidential Information of the other party. For purposes of this Article, "**Confidential Information**" shall mean any and all non-public information which is in any way connected with, derived from or related to the business of the other party which is either designated as confidential or which, by its nature or under the circumstances surrounding its disclosure, reasonably ought to be treated as confidential, and any notes, memoranda, analyses compilations, studies and other documents, whether prepared by the party or others, to the extent they contain or otherwise reflect such information.

(b) **Exceptions.** Confidential Information shall not include information to the extent such information (i) is already known to the receiving party free of any restriction at the time obtained, including information in the public domain; (ii) is subsequently learned from an independent third party free of restriction; (iii) becomes publicly known through no breach of this Article; or (iv) is independently developed by one party without reference to information which is confidential.

(c) **Security.** Each party shall take reasonable security precautions, at least as great as the precautions it takes to protect its own confidential information, to keep confidential the Confidential Information.

(d) **Use of Information.** Confidential Information may be disclosed, reproduced, used, summarized or distributed only as necessary in the ordinary course of business to provide the services identified in the Agreement, and only as otherwise provided hereunder or as specifically required or permitted by applicable law.

**<u>Article 22. Privacy.</u>**

A. The Investment Company may disclose shareholder/customer non-public information ()"**NPI** ")
to FAS as agent of the Investment Company and solely in furtherance of fulfilling FAS's contractual obligations under this Agreement
in the ordinary course of business to support the Investment Company and its shareholders.

B. FAS hereby agrees to be bound to use and redisclose such NPI (i) for the limited purpose of fulfilling
its duties and obligations under this Agreement; (ii) as permitted under Regulation S-P; and (iii) as required by any applicable federal
or state law or regulation or request of or by any governmental or regulatory authority or self-regulatory organization having jurisdiction
over FAS or the Investment Company.

C. FAS represents and warrants that it has implemented, and will continue to carry out for the term of this
Agreement, policies and procedures in compliance with all applicable laws and regulations regarding the privacy of shareholder information
which are reasonably designed to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. insure the security and confidentiality of records and NPI of Investment
Company shareholders/customers, including encrypting such information as required by applicable federal and state laws or regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. protect against any anticipated threats or hazards to the security or integrity
of Investment Company customer records and NPI; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. protect against unauthorized access to or use of such Investment Company
customer records or NPI that could result in substantial harm or inconvenience to any Investment Company customer.

**<u>Article 23. Further Assurance</u>**.

Each party agrees to promptly sign all documents and take any additional actions reasonably requested by the other to accomplish the purposes of this Agreement.

**IN WITNESS WHEREOF**, the parties hereto have caused this Agreement to be executed in their names and on their behalf under their seals by and through their duly authorized officers, as of the day and year first above written.

---

| |
|:---|
| **INVESTMENT COMPANIES** |
| **(listed on Exhibit A hereto)** |
| By: /s/ J. Christopher Donahue |
| Name: J. Christopher Donahue |
| Title: President |
| **FEDERATED ADMINISTRATIVE SERVICES** |
| By: /s/ Peter J. Germain |
| Name: Peter J. Germain |
| Title: President |

---

**Agreement for Administrative Services**

EXHIBIT A

This contract is for Federated Funds only.

December 1, 2022

---

| | | |
|:---|:---|:---|
| **<u>CONTRACT DATE</u>** | **<u>INVESTMENT COMPANY</u>** | |
| &nbsp;&nbsp;**11/1/03** | &nbsp;&nbsp;**Federated Hermes Adjustable Rate Securities Trust** |  |
| &nbsp;&nbsp;8/1/22 | &nbsp;&nbsp;Federated Hermes Adjustable Rate Fund | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;**6/1/17** | &nbsp;&nbsp;**Federated Hermes Adviser Series** |  |
| &nbsp;&nbsp;6/1/19 | &nbsp;&nbsp;Federated Hermes Emerging Markets Equity Fund | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;6/1/19 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;6/1/19 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;6/1/19 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;12/1/20 | &nbsp;&nbsp;Federated Hermes Conservative Microshort Fund | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;12/1/20 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;12/1/20 | &nbsp;&nbsp;Federated Hermes Conservative Municipal Microshort Fund | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;12/1/20 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;12/1/18 | &nbsp;&nbsp;Federated Hermes Global Equity Fund |  |
| &nbsp;&nbsp;12/1/18 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;12/1/18 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;12/1/18 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;12/1/18 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;3/1/19 | &nbsp;&nbsp;Federated Hermes International *Developed* Equity Fund |  |
| &nbsp;&nbsp;3/1/19 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;3/1/19 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;3/1/19 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;3/1/19 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;9/1/18 | &nbsp;&nbsp;Federated Hermes SDG Engagement Equity Fund |  |
| &nbsp;&nbsp;9/1/18 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;9/1/18 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;9/1/18 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;9/1/18 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;9/1/18 | &nbsp;&nbsp;Federated Hermes SDG Engagement High Yield Credit Fund |  |
| &nbsp;&nbsp;9/1/18 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;9/1/18 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;9/1/18 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;9/1/18 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;12/1/18 | &nbsp;&nbsp;Federated Hermes Unconstrained Credit Fund |  |
| &nbsp;&nbsp;12/1/18 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;12/1/18 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;12/1/18 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;12/1/18 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;3/1/20 | &nbsp;&nbsp;Federated Hermes US SMID Fund |  |
| &nbsp;&nbsp;3/1/20 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;3/1/20 |  | &nbsp;&nbsp;Class C shares |
| &nbsp;&nbsp;3/1/20 |  | &nbsp;&nbsp;Institutional Share |
| &nbsp;&nbsp;3/1/20 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;6/1/19 | &nbsp;&nbsp;Federated Hermes International Equity Fund |  |
| &nbsp;&nbsp;6/1/19 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;6/1/19 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;6/1/19 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;6/1/19 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;6/1/19 | &nbsp;&nbsp;Federated Hermes International Growth Fund |  |
| &nbsp;&nbsp;6/1/19 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;6/1/19 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;6/1/19 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;6/1/19 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;6/1/17 | &nbsp;&nbsp;Federated Hermes MDT Large Cap Value Fund |  |
| &nbsp;&nbsp;6/1/17 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;6/1/17 |  | &nbsp;&nbsp;Class B Shares |
| &nbsp;&nbsp;6/1/17 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;6/1/17 |  | &nbsp;&nbsp;Class R Shares |
| &nbsp;&nbsp;6/1/17 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;6/1/17 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;6/1/17 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;7/1/21 | &nbsp;&nbsp;Federated Hermes MDT Market Neutral Fund | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;7/1/21 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;**11/1/03** | &nbsp;&nbsp;**Federated Hermes Core Trust** |  |
| &nbsp;&nbsp;03/1/16 | &nbsp;&nbsp;Emerging Markets Core Fund |  |
| &nbsp;&nbsp;9/1/10 | &nbsp;&nbsp;Bank Loan Core Fund |  |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Mortgage Core Fund |  |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;High Yield Bond Core Fund |  |
| &nbsp;&nbsp;**3/1/08** | &nbsp;&nbsp;**Federated Hermes Core Trust III** |  |
|  | &nbsp;&nbsp;Project and Trade Finance Core Fund |  |
| &nbsp;&nbsp;**11/1/03** | &nbsp;&nbsp;**Federated Hermes Equity Funds** |  |
| &nbsp;&nbsp;12/1/08 | &nbsp;&nbsp;Federated Hermes Clover Small Value Fund |  |
| &nbsp;&nbsp;12/1/08 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;12/1/08 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;12/1/08 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;12/29/10 |  | &nbsp;&nbsp;Class R Shares |
| &nbsp;&nbsp;3/1/16 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;3/1/08 | &nbsp;&nbsp;Federated Hermes International Strategic Value Dividend Fund |  |
| &nbsp;&nbsp;3/1/08 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;3/1/08 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;9/1/16 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;9/1/16 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Kaufmann Fund |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class B Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class R Shares |
| &nbsp;&nbsp;9/1/16 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;9/17/07 | &nbsp;&nbsp;Federated Hermes Kaufmann Large Cap Fund |  |
| &nbsp;&nbsp;9/17/07 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;9/17/07 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;9/17/07 |  | &nbsp;&nbsp;Class R Shares |
| &nbsp;&nbsp;12/30/13 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;9/17/07 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Kaufmann Small Cap Fund |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class B Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;9/1/05 |  | &nbsp;&nbsp;Class R Shares |
| &nbsp;&nbsp;9/1/17 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;9/1/15 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes MDT Mid Cap Growth Fund |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;9/1/06 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;12/1/09 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;9/1/08 | &nbsp;&nbsp;Federated Hermes Prudent Bear Fund |  |
| &nbsp;&nbsp;9/1/08 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;9/1/08 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;9/1/08 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;12/1/04 | &nbsp;&nbsp;Federated Hermes Strategic Value Dividend Fund |  |
| &nbsp;&nbsp;12/1/04 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;12/1/04 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;3/1/05 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;6/1/16 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;**11/1/03** | &nbsp;&nbsp;**Federated Hermes Equity Income Fund, Inc.** |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class B Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class F Shares |
| &nbsp;&nbsp;1/25/13 |  | &nbsp;&nbsp;Class R Shares |
| &nbsp;&nbsp;3/1/12 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;**9/1/21** | &nbsp;&nbsp;**Federated Hermes ETF Trust** |  |
| &nbsp;&nbsp;9/1/21 | &nbsp;&nbsp;Federated Hermes Short Duration Corporate ETF |  |
| &nbsp;&nbsp;9/1/21 | &nbsp;&nbsp;Federated Hermes Short Duration High Yield ETF |  |
| &nbsp;&nbsp;9/1/22 | &nbsp;&nbsp; Federated Hermes U.S. Strategic Dividend ETF<br>|  |
| &nbsp;&nbsp;**11/1/03** | &nbsp;&nbsp;**Federated Hermes Fixed Income Securities, Inc.** |  |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Strategic Income Fund |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class B Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class F Shares |
| &nbsp;&nbsp;1/27/17 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;9/1/07 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Municipal Ultrashort Fund |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;3/1/19 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;**6/1/08** | &nbsp;&nbsp;**Federated Hermes Global Allocation Fund** |  |
| &nbsp;&nbsp;6/1/08 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;6/1/08 |  | &nbsp;&nbsp;Class B Shares |
| &nbsp;&nbsp;6/1/08 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;6/1/08 |  | &nbsp;&nbsp;Class R Shares |
| &nbsp;&nbsp;3/1/16 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;3/1/09 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;**Federated Hermes Government Income Securities, Inc.** |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class F Shares |
| &nbsp;&nbsp;3/1/20 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;**11/1/03** | &nbsp;&nbsp;**Federated Hermes Government Income Trust** |  |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Government Income Fund | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;**11/1/03** | &nbsp;&nbsp;**Federated Hermes High Income Bond Fund, Inc.** |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class B Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;1/27/17 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;1/27/17 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;**11/1/03** | &nbsp;&nbsp;**Federated Hermes High Yield Trust** |  |
| &nbsp;&nbsp;3/1/14 | &nbsp;&nbsp;Federated Hermes Opportunistic High Yield Bond Fund | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;3/1/14 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;4/30/10 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;6/1/13 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;9/1/16 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;**11/1/03** | &nbsp;&nbsp;**Federated Hermes Income Securities Trust** |  |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Capital Income Fund |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class B Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class F Shares |
| &nbsp;&nbsp;6/1/13 |  | &nbsp;&nbsp;Class R Shares |
| &nbsp;&nbsp;3/1/12 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;9/1/10 | &nbsp;&nbsp;Federated Hermes Floating Rate Strategic Income Fund |  |
| &nbsp;&nbsp;9/1/10 |  | &nbsp;&nbsp;Class A Shares |
|  |  | &nbsp;&nbsp;Class A 1 Shares |
| &nbsp;&nbsp;9/1/10 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;9/1/16 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Fund for U.S. Government Securities |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class B Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;3/1/20 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Intermediate Corporate Bond Fund |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Muni and Stock Advantage Fund |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class B Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;5/29/07 |  | &nbsp;&nbsp;Class F Shares |
| &nbsp;&nbsp;12/1/10 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;12/1/05 | &nbsp;&nbsp;Federated Hermes Inflation Protected Securities Fund (formerly Federated Hermes Real Return Bond Fund) |  |
| &nbsp;&nbsp;12/1/05 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;12/1/05 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;12/1/05 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;1/1/22 |  | &nbsp;&nbsp;*Class R6 Shares* |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Short-Term Income Fund |  |
| &nbsp;&nbsp;12/1/03 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;9/1/21 |  | &nbsp;&nbsp;Class A2 Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;9/1/16 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;**11/1/03** | &nbsp;&nbsp;**Federated Hermes Institutional Trust** |  |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Government Ultrashort Fund |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;3/1/16 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Institutional High Yield Bond Fund |  |
| &nbsp;&nbsp;12/1/22 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;12/1/22 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;12/1/07 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;03/1/16 |  | &nbsp;&nbsp;R6 Shares |
| &nbsp;&nbsp;6/1/05 | &nbsp;&nbsp;Federated Hermes Short-Intermediate Total Return Bond Fund |  |
| &nbsp;&nbsp;1/31/14 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;9/1/16 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;6/1/05 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;6/1/05 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;**11/1/03** | &nbsp;&nbsp;**Federated Hermes Insurance Series** |  |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Fund for U.S. Government Securities II |  |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes High Income Bond Fund II |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Primary Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Kaufmann Fund II |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Primary Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Managed Volatility Fund II |  |
| &nbsp;&nbsp;6/1/18 |  | &nbsp;&nbsp;Primary Shares |
| &nbsp;&nbsp;6/1/18 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Government Money Fund II |  |
| &nbsp;&nbsp;9/1/15 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Quality Bond Fund II |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Primary Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;**11/1/03** | &nbsp;&nbsp;**Federated Hermes International Series, Inc.** |  |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Global Total Return Bond Fund |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;9/1/16 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;**11/1/03** | &nbsp;&nbsp;**Federated Hermes Investment Series Funds, Inc.** |  |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Corporate Bond Fund |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class B Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class F Shares |
| &nbsp;&nbsp;9/1/16 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;9/1/07 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;**12/1/05** | &nbsp;&nbsp;**Federated Hermes Managed Pool Series** |  |
| &nbsp;&nbsp;12/1/05 | &nbsp;&nbsp;Federated Hermes Corporate Bond Strategy Portfolio |  |
| &nbsp;&nbsp;12/1/05 | &nbsp;&nbsp;Federated Hermes High-Yield Strategy Portfolio |  |
| &nbsp;&nbsp;12/1/05 | &nbsp;&nbsp;Federated Hermes International Bond Strategy Portfolio |  |
| &nbsp;&nbsp;12/1/14 | &nbsp;&nbsp;Federated Hermes International Dividend Strategy Portfolio |  |
| &nbsp;&nbsp;12/1/05 | &nbsp;&nbsp;Federated Hermes Mortgage Strategy Portfolio |  |
| &nbsp;&nbsp;**7/31/06** | &nbsp;&nbsp;**Federated Hermes MDT Series** |  |
| &nbsp;&nbsp;7/31/06 | &nbsp;&nbsp;Federated Hermes MDT All Cap Core Fund |  |
| &nbsp;&nbsp;7/31/06 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;7/31/06 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;9/1/16 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;7/31/06 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;7/31/06 | &nbsp;&nbsp;Federated Hermes MDT Balanced Fund |  |
| &nbsp;&nbsp;7/31/06 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;7/31/06 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;9/1/16 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;7/31/06 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;7/31/06 | &nbsp;&nbsp;Federated Hermes MDT Large Cap Growth Fund |  |
| &nbsp;&nbsp;7/31/06 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;3/1/07 |  | &nbsp;&nbsp;Class B Shares |
| &nbsp;&nbsp;7/31/06 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;7/31/06 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;7/31/06 | &nbsp;&nbsp;Federated Hermes MDT Small Cap Core Fund |  |
| &nbsp;&nbsp;7/31/06 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;7/31/06 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;7/31/06 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;3/1/16 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;7/31/06 | &nbsp;&nbsp;Federated Hermes MDT Small Cap Growth Fund |  |
| &nbsp;&nbsp;7/31/06 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;7/31/06 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;7/31/06 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;3/1/16 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;**11/1/03** | &nbsp;&nbsp;**Federated Hermes Municipal Bond Fund, Inc.** |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class B Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;5/29/07 |  | &nbsp;&nbsp;Class F Shares |
| &nbsp;&nbsp;6/1/17 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;**11/1/03** | &nbsp;&nbsp;**Federated Hermes Municipal Securities Income Trust** |  |
| &nbsp;&nbsp;6/1/06 | &nbsp;&nbsp;Federated Hermes Michigan Intermediate Municipal Fund |  |
| &nbsp;&nbsp;6/1/06 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;6/1/06 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;6/1/06 | &nbsp;&nbsp;Federated Hermes Municipal High Yield Advantage Fund |  |
| &nbsp;&nbsp;6/1/06 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;6/1/06 |  | &nbsp;&nbsp;Class B Shares |
| &nbsp;&nbsp;6/1/06 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;6/1/06 |  | &nbsp;&nbsp;Class F Shares |
| &nbsp;&nbsp;6/1/13 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Ohio Municipal Income Fund |  |
| &nbsp;&nbsp;9/1/08 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class F Shares |
| &nbsp;&nbsp;3/1/20 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Pennsylvania Municipal Income Fund |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;3/1/20 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;**11/1/03** | &nbsp;&nbsp; **Federated Hermes Premier Municipal Income Fund**<br> (limited purpose of Administrative Services) |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Common Shares |
| &nbsp;&nbsp;**10/1/16** | &nbsp;&nbsp; **Federated Hermes Project and Trade Finance Tender Fund**<br> (limited purpose of Administrative Services) |  |
| &nbsp;&nbsp;**11/1/03** | &nbsp;&nbsp;**Federated Hermes Short-Intermediate Duration Municipal Trust** |  |
|  | &nbsp;&nbsp;Federated Hermes Short-Intermediate Municipal Fund |  |
| &nbsp;&nbsp;7/1/06 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;9/1/21 |  | &nbsp;&nbsp;Class A2 Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;**11/1/03** | &nbsp;&nbsp;**Federated Hermes Total Return Government Bond Fund** |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;3/1/16 |  | &nbsp;&nbsp;R6 Shares |
| &nbsp;&nbsp;**11/1/03** | &nbsp;&nbsp;**Federated Hermes Total Return Series, Inc.** |  |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Core Bond Fund |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;6/1/21 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Total Return Bond Fund |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class B Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class R Shares |
| &nbsp;&nbsp;4/17/15 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Ultrashort Bond Fund |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;3/1/19 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;**11/1/03** | &nbsp;&nbsp;**Federated Hermes Short-Term Government Trust** |  |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Short-Term Government Fund | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;**11/1/03** | &nbsp;&nbsp;**Federated Hermes Short-Intermediate Government Trust** |  |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Short-Intermediate Government Fund |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class R Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;**11/1/03** | &nbsp;&nbsp;**Federated Hermes World Investment Series, Inc.** |  |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Emerging Market Debt Fund |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;3/1/12 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes International Leaders Fund |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class B Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;6/1/13 |  | &nbsp;&nbsp;Class R Shares |
| &nbsp;&nbsp;6/1/13 |  | &nbsp;&nbsp;Class R6 Shares |
| &nbsp;&nbsp;6/15/10 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes International Small-Mid Company Fund |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;3/1/08 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;**11/1/03** | &nbsp;&nbsp;**Federated Hermes Intermediate Municipal Trust** |  |
| &nbsp;&nbsp;08/01/22 | &nbsp;&nbsp;Federated Hermes Intermediate Municipal Fund |  |
| &nbsp;&nbsp;08/01/22 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;**11/1/03** | &nbsp;&nbsp;**Federated Hermes Money Market Obligations Trust** |  |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes California Municipal Cash Trust |  |
| &nbsp;&nbsp;12/1/04 |  | &nbsp;&nbsp;Capital Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Cash II Shares |
| &nbsp;&nbsp;12/1/04 |  | &nbsp;&nbsp;Cash Series Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Wealth Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;12/1/04 | &nbsp;&nbsp;Federated Hermes Capital Reserves Fund |  |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp; Federated Hermes Government Obligations Fund |  |
| &nbsp;&nbsp;9/1/17 |  | &nbsp;&nbsp;Administrative Shares |
| &nbsp;&nbsp;6/1/17 |  | &nbsp;&nbsp;Advisor Shares |
| &nbsp;&nbsp;12/1/04 |  | &nbsp;&nbsp;Capital Shares |
| &nbsp;&nbsp;6/1/15 |  | &nbsp;&nbsp;Cash II Shares |
| &nbsp;&nbsp;6/1/15 |  | &nbsp;&nbsp;Cash Series Shares |
| &nbsp;&nbsp;12/1/15 |  | &nbsp;&nbsp;Class R Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;12/1/14 |  | &nbsp;&nbsp;Premier Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Trust Shares |
| &nbsp;&nbsp;4/1/22 |  | &nbsp;&nbsp;*SDG Shares* |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Government Obligations Tax Managed Fund |  |
| &nbsp;&nbsp;6/1/15 |  | &nbsp;&nbsp;Automated Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;12/1/04 | &nbsp;&nbsp;Federated Hermes Government Reserves Fund |  |
| &nbsp;&nbsp;6/1/15 |  | &nbsp;&nbsp;Class A Shares |
| &nbsp;&nbsp;6/1/15 |  | &nbsp;&nbsp;Class B Shares |
| &nbsp;&nbsp;6/1/15 |  | &nbsp;&nbsp;Class C Shares |
| &nbsp;&nbsp;6/1/15 |  | &nbsp;&nbsp;Class F Shares |
| &nbsp;&nbsp;6/1/15 |  | &nbsp;&nbsp;Class P Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Institutional Money Market Management |  |
| &nbsp;&nbsp;3/1/14 |  | &nbsp;&nbsp;Capital Shares |
| &nbsp;&nbsp;9/1/07 |  | &nbsp;&nbsp;Eagle Shares |
| &nbsp;&nbsp;9/1/07 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;3/1/14 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Institutional Prime Obligations Fund |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Capital Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Institutional Prime Value Obligations Fund |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Capital Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Institutional Tax-Free Cash Trust |  |
| &nbsp;&nbsp;12/1/15 |  | &nbsp;&nbsp;Premier Shares |
| &nbsp;&nbsp;12/1/15 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Municipal Obligations Fund |  |
| &nbsp;&nbsp;10/27/17 |  | &nbsp;&nbsp;Automated Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Capital Shares |
| &nbsp;&nbsp;6/1/15 |  | &nbsp;&nbsp;Cash II Shares |
| &nbsp;&nbsp;6/1/15 |  | &nbsp;&nbsp;Cash Series Shares |
| &nbsp;&nbsp;6/1/15 |  | &nbsp;&nbsp;Investment Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Wealth Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes New York Municipal Cash Trust |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Cash II Shares |
| &nbsp;&nbsp;12/1/04 |  | &nbsp;&nbsp;Cash Series Shares |
| &nbsp;&nbsp;12/1/04 |  | &nbsp;&nbsp;Wealth Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Prime Cash Obligations Fund |  |
| &nbsp;&nbsp;6/1/17 |  | &nbsp;&nbsp;Advisor Shares |
| &nbsp;&nbsp;6/1/15 |  | &nbsp;&nbsp;Automated Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Capital Shares |
| &nbsp;&nbsp;6/1/15 |  | &nbsp;&nbsp;Cash II Shares |
| &nbsp;&nbsp;6/1/15 |  | &nbsp;&nbsp;Cash Series Shares |
| &nbsp;&nbsp;6/1/15 |  | &nbsp;&nbsp;Class R Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Wealth Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;6/1/15 |  | &nbsp;&nbsp;Trust Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Tax-Free Obligations Fund |  |
| &nbsp;&nbsp;6/1/17 |  | &nbsp;&nbsp;Advisor Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Wealth Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Treasury Obligations Fund |  |
| &nbsp;&nbsp;6/13/14 |  | &nbsp;&nbsp;Automated Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Capital Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Service Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Trust Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes Trust for U.S. Treasury Obligations |  |
| &nbsp;&nbsp;6/1/15 |  | &nbsp;&nbsp;Cash II Shares |
| &nbsp;&nbsp;6/1/15 |  | &nbsp;&nbsp;Cash Series Shares |
| &nbsp;&nbsp;6/1/15 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;11/1/03 | &nbsp;&nbsp;Federated Hermes U.S. Treasury Cash Reserves |  |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Institutional Shares |
| &nbsp;&nbsp;11/1/03 |  | &nbsp;&nbsp;Service Shares |

---

 

 

**EXHIBIT B**

**FUNDS NOT CHARGED AN ADMINISTRATIVE SERVICES FEE**

Emerging Markets Core Fund

Mortgage Core Fund

High Yield Bond Core Fund

Bank Loan Core Fund

Project and Trade Finance Core Fund

## Ex-99.M

Exhibit 28 (m) under Form N-1A<br> Exhibit 1 under Item 601/Reg. S-K

*6/29/20 – Name changed to Federated Hermes Money Market Obligations Trust*

**MONEY MARKET OBLIGATIONS TRUST**

DISTRIBUTION PLAN

This Distribution Plan ("Plan") is adopted as of the 12<sup>th</sup> day of February, 2004, by the Board of Trustees of **Money Market Obligations Trust** (the "Trust"), a Massachusetts business trust with respect to certain classes of shares ("Classes") of the portfolios of the Trust (the "Funds") set forth in exhibits hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. This Plan is adopted pursuant to Rule 12b-1 under the Investment Company Act of 1940, as amended ("Act"),
so as to allow the Trust to make payments as contemplated herein, in conjunction with the distribution of Classes of the Funds ("Shares")
and pursuant to the "Distributor's Contract" entered into by the Trust and FSC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. This Plan is designed to finance activities of Federated Securities Corp. ("FSC") principally
intended to result in the sale of Shares to include: (a) providing incentives to financial institutions ("Financial Institutions")
to sell Shares and; (b) advertising and marketing of Shares to include preparing, printing and distributing prospectuses and sales literature
to prospective shareholders and with Financial Institutions. The Plan is also designed to cover the costs of administrative services performed
in connection with the sale of Shares, but are not limited to shareholder services, recordkeeping services and educational services, as
well as the costs of implementing and operating the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. As compensation for services provided pursuant to this Plan, FSC will be paid a fee in respect of the
following Classes set forth on the exhibits to this Agreement. FSC may use all or any of the fees received pursuant to the Plan to pay
any of the expenses associated with the activities under Paragraph 2 hereof whether incurred directly, or through Financial Institutions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Any payments by FSC to Financial Institutions with funds received as compensation under this Plan will
be made pursuant to an agreement entered into by FSC and the Financial Institution ("Financial Institution Agreement"). FSC
has the right (i) to select, in its sole discretion, the Financial Institutions to participate in the Plan and (ii) to terminate without
cause and in its sole discretion any Financial Institution Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Quarterly in each year that this Plan remains in effect, FSC shall prepare and furnish to the Board of
Trustees of the Trust, and the Board of Trustees shall review, a written report of the amounts expended under the Plan and the purpose
for which such expenditures were made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. This Plan shall become effective with respect to each Class (i) after approval as required by Rule
12b-1 under the Act as in effect on the date of the execution hereof; and (ii) upon execution of an exhibit adopting this Plan with
respect to such Class.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. This Plan shall remain in effect with respect to each Class presently set forth on an exhibit and any
subsequent Classes added pursuant to an exhibit during the initial year of this Plan for the period of one year from the date set forth
above and may be continued thereafter if this Plan is approved with respect to each Class at least annually by a majority of the Trust's
Board of Trustees and a majority of the Disinterested Trustees, cast in person at a meeting called for the purpose of voting on such Plan.
If this Plan is adopted with respect to a Class after the first annual approval by the Trustees as described above, this Plan will be
effective as to that Class upon execution of the applicable exhibit pursuant to the provisions of paragraph 6(ii) above and will
continue in effect until the next annual approval of this Plan by the Trustees and thereafter for successive periods of one year subject
to approval as described above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. All material amendments to this Plan must be approved by a vote of the Board of Trustees of the Trust
and of the Disinterested Trustees, cast in person at a meeting called for the purpose of voting on it.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. This Plan may not be amended in order to increase materially the costs which the Classes may bear for
distribution pursuant to the Plan without being approved by a majority vote of the outstanding voting securities of the Classes as defined
in Section 2(a)(42) of the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. This Plan may be terminated with respect to a particular Class at any time by: (a) a majority vote of
the Disinterested Trustees; or (b) a vote of a majority of the outstanding voting securities of the particular Class as defined in Section
2(a)(42) of the Act; or (c) by FSC on 60 days' notice to the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. While this Plan shall be in effect, the selection and nomination of Disinterested Trustees of the Trust
shall be committed to the discretion of the Disinterested Trustees then in office.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. All agreements with any person relating to the implementation of this Plan, including, but not limited
to Financial Institution Agreements, shall be in writing and any agreement related to this Plan shall be subject to termination, without
penalty, pursuant to the provisions of Paragraph 10 herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. This Plan shall be construed in accordance with and governed by the laws of the Commonwealth of Pennsylvania.

*6/30/10 – "Federated" added to all existing portfolios listed below*

 

EXHIBIT A

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**Automated Cash Management Trust –** *merged into Federated Prime Cash Obligations Fund on 12/11/15*

**Florida Municipal Cash Trust**

**Michigan Municipal Cash Trust** - *terminated 10/04*

**New York Municipal Cash Trust**

**Cash II Shares**

This Distribution Plan is adopted as of the 12<sup>th</sup> day of February, 2004, by Money Market Obligations Trust with respect to the Cash II Shares of the portfolios of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.25 of 1% of the average aggregate net asset value of the Cash II Shares of Money Market Obligations Trust held during the month.

Witness the due execution hereof this 1<sup>st</sup> day of March, 2004**.**

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u> 

Name: J. Christopher Donahue

Title: President

*6/29/20 – Name changed to Federated Hermes California Municipal Cash Trust* 

*6/30/10 – Name changed to Federated California Municipal Cash Trust*

EXHIBIT B

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**California Municipal Cash Trust**

**Cash II Shares**

This Distribution Plan is adopted as of the 12<sup>th</sup> day of February, 2004, by Money Market Obligations Trust with respect to the Cash II Shares of the portfolio of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.20 of 1% of the average aggregate net asset value of the Cash II Shares of Money Market Obligations Trust held during the month.

Witness the due execution hereof this 1<sup>st</sup> day of March, 2004**.**

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u> 

Name: J. Christopher Donahue

Title: President

*6/30/10 – Name changed to Federated Ohio Municipal Cash Trust*

EXHIBIT C

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**Ohio Municipal Cash Trust**

**Cash II Shares**

This Distribution Plan is adopted as of the 12<sup>th</sup> day of February, 2004, by Money Market Obligations Trust with respect to the Cash II Shares of the portfolio of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.30 of 1% of the average aggregate net asset value of the Cash II Shares of Money Market Obligations Trust held during the month.

Witness the due execution hereof this 1<sup>st</sup> day of March, 2004**.**

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u> 

Name: J. Christopher Donahue

Title: President

*6/30/10 – Name changed to Federated Minnesota Municipal Cash Trust*

EXHIBIT D

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**Minnesota Municipal Cash Trust**

**Cash Series Shares**

This Distribution Plan is adopted as of the 12<sup>th</sup> day of February, 2004, by Money Market Obligations Trust with respect to the Cash Series Shares of the portfolio of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.50 of 1% of the average aggregate net asset value of the Cash Series Shares of Money Market Obligations Trust held during the month.

Witness the due execution hereof this 1<sup>st</sup> day of March, 2004**.**

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u> 

Name: J. Christopher Donahue

Title: President

*6/29/20 – Name changed to Federated Hermes Pennsylvania Municipal Cash Trust* 

*6/30/10 – Name changed to Federated Pennsylvania Municipal Cash Trust*

EXHIBIT E

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**Pennsylvania Municipal Cash Trust**

**Cash Series Shares**

This Distribution Plan is adopted as of the 12<sup>th</sup> day of February, 2004, by Money Market Obligations Trust with respect to the Cash Series Shares of the portfolio of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.40 of 1% of the average aggregate net asset value of the Cash Series Shares of Money Market Obligations Trust held during the month.

Witness the due execution hereof this 1<sup>st</sup> day of March, 2004**.**

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u> 

Name: J. Christopher Donahue

Title: President

*9/30/11 – Institutional Service Shares renamed Service Shares*

*6/30/10 – Name changed to Federated New Jersey Municipal Cash Trust*

EXHIBIT F

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**Automated Cash Management Trust** *- terminated 10/04*

**Florida Municipal Cash Trust** *- terminated 10/04*

**Michigan Municipal Cash Trust** *- terminated 10/04*

**New Jersey Municipal Cash Trust**

**Institutional Service Shares**

This Distribution Plan is adopted as of the 12<sup>th</sup> day of February, 2004, by Money Market Obligations Trust with respect to the Institutional Service Shares of the portfolios of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.10 of 1% of the average aggregate net asset value of the Institutional Service Shares of Money Market Obligations Trust held during the month.

Witness the due execution hereof this 1<sup>st</sup> day of March, 2004**.**

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u> 

Name: J. Christopher Donahue

Title: President

*6/29/20 – Names changed to Federated Hermes New York Municipal Cash Trust and Federated Hermes U.S. Treasury Cash Reserves*

*9/30/11 – Institutional Service Shares renamed Service Shares*

*6/3/10 – "Federated" added to each portfolio listed below*

EXHIBIT G

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**New York Municipal Cash Trust**

**U.S. Treasury Cash Reserves**

**Institutional Service Shares**

This Distribution Plan is adopted as of the 12<sup>th</sup> day of February, 2004, by Money Market Obligations Trust with respect to the Institutional Service Shares of the portfolios of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.25 of 1% of the average aggregate net asset value of the Institutional Service Shares of Money Market Obligations Trust held during the month.

Witness the due execution hereof this 1<sup>st</sup> day of March, 2004**.**

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u> 

Name: J. Christopher Donahue

Title: President

*12/31/15 – Institutional Shares renamed Wealth Shares*

*6/30/10 – Name changed to Federated Florida Municipal Cash Trust*

EXHIBIT H

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**Florida Municipal Cash Trust**

**Institutional Shares**

This Distribution Plan is adopted as of the 12<sup>th</sup> day of February, 2004, by Money Market Obligations Trust with respect to the Institutional Shares of the portfolio of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.25 of 1% of the average aggregate net asset value of the Institutional Shares of Money Market Obligations Trust held during the month.

Witness the due execution hereof this 1<sup>st</sup> day of March, 2004**.**

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u> 

Name: J. Christopher Donahue

Title: President

*6/29/20 – Names Changed to Federated Hermes Government Obligations Fund, Federated Hermes Institutional Prime Obligations Fund, Federated Hermes Treasury Obligations Fund*

*3/31/16 – "Institutional" added to Federated Prime Obligations Fund*

*6/30/10 – "Federated" added to each portfolio listed below still in existence*

*4/28/04 - Trust Shares of Tax-Free Obligations Fund closed*

EXHIBIT I

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**Government Obligations Fund**

**Prime Obligations Fund**

**Tax-Free Obligations Fund**

**Treasury Obligations Fund**

**Trust Shares**

This Distribution Plan is adopted as of the 12<sup>th</sup> day of February, 2004, by Money Market Obligations Trust with respect to the Trust Shares of the portfolios of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.25 of 1% of the average aggregate net asset value of the Trust Shares of Money Market Obligations Trust held during the month.

Witness the due execution hereof this 1<sup>st</sup> day of March, 2004**.**

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u> 

Name: J. Christopher Donahue

Title: President

*2/19/21- Federated Hermes Massachusetts Municipal Cash Trust and Federated Hermes Virginia Municipal Cash Trust were liquidated.*

*6/29/20 – Names changed to Federated Hermes California Municipal Cash Trust, Federated Hermes Massachusetts Municipal Cash Trust, Federated Hermes New York Municipal Cash Trust and Federated Hermes Virginia Municipal Cash Trust*

*6/30/10 – "Federated" added to each portfolio listed below*

EXHIBIT J

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**California Municipal Cash Trust**

**Connecticut Municipal Cash Trust**

**Florida Municipal Cash Trust**

**Massachusetts Municipal Cash Trust**

**New Jersey Municipal Cash Trust**

**New York Municipal Cash Trust**

**Virginia Municipal Cash Trust**

**Cash Series Shares**

This Distribution Plan is adopted as of the 12<sup>th</sup> day of February, 2004, by Money Market Obligations Trust with respect to the Trust Shares of the portfolios of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.60 of 1% of the average aggregate net asset value of the Cash Series Shares of Money Market Obligations Trust held during the month.

Witness the due execution hereof this 1<sup>st</sup> day of December, 2004**.**

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u> 

Name: J. Christopher Donahue

Title: President

 

*6/29/20 – Names changed to Federated Hermes Capital Reserves Fund and Federated HermesGovernment Reserves Fund*

*6/1/15 – Federated Government Reserves Fund original shares redesignated as Class P Shares*

EXHIBIT K

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**Federated Capital Reserves Fund**

**Federated Government Reserves Fund**

**Federated Municipal Trust**

This Distribution Plan is adopted as of the 12<sup>th</sup> day of February, 2004, by Money Market Obligations Trust with respect to the portfolios of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.55 of 1% of the average aggregate net asset value of the portfolios of Money Market Obligations Trust held during the month.

Witness the due execution hereof this 1<sup>st</sup> day of December, 2004**.**

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u> 

Name: J. Christopher Donahue

Title: President

*12/18/15 – Merged into Federated Government Reserves Fund*

*6/30/10 – Name changed to Federated Liberty U.S. Government Money Market Trust*

EXHIBIT L

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**Liberty U.S. Government Money Market Trust**

**Class C Shares**

This Distribution Plan is adopted by Money Market Obligations Trust with respect to the portfolios of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.75 of 1% of the average aggregate net asset value of the portfolios of Money Market Obligations Trust held during the month.

Witness the due execution hereof this 1<sup>st</sup> day of March, 2005**.**

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u> 

Name: J. Christopher Donahue

Title: President

*12/11/15 – Federated Automated Cash Management Trust merged into Federated Prime Cash Obligations Fund*

*12/31/10 – Class K Shares renamed Class R Shares*

*6/30/10 – Name changed to Federated Automated Cash Management Trust*

EXHIBIT M

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**Automated Cash Management Trust**

**Class K Shares**

This Exhibit to the Distribution Plan is adopted by Money Market Obligations Trust on the 18<sup>th</sup> day of August, 2006, with respect to the portfolios of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.50 of 1% of the average aggregate net asset value of the portfolios of Money Market Obligations Trust held during the month.

Witness the due execution hereof this 1<sup>st</sup> day of September, 2006**.**

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u> 

Name: J. Christopher Donahue

Title: President

*6/29/20 – Name changed to Federated Hermes Trust for U.S. Treasury Obligations*

 

EXHIBIT N

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**Federated Trust for U.S. Treasury Obligations**

**Cash Series Shares**

This Exhibit to the Distribution Plan is adopted by Money Market Obligations Trust on the 14th day of May, 2015, with respect to the Class of Shares of the portfolio of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.60 of 1% of the average aggregate net asset value of the Class of Shares of the portfolio of Money Market Obligations Trust set forth above held during the month.

Witness the due execution hereof this 1st day of<u> </u>June, 2015.

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u>

Name: J. Christopher Donahue

Title: President

*6/29/20 – Name changed to Federated Hermes Trust for U.S. Treasury Obligations*

EXHIBIT O

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**Federated Trust for U.S. Treasury Obligations**

**Cash II Shares**

This Exhibit to the Distribution Plan is adopted by Money Market Obligations Trust on the 14th day of May, 2015, with respect to the Class of Shares of the portfolio of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.35 of 1% of the average aggregate net asset value of the Class of Shares of the portfolio of Money Market Obligations Trust set forth above held during the month.

Witness the due execution hereof this 1st day of<u> </u>June, 2015.

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u>

Name: J. Christopher Donahue

Title: President

*6/29/20 – Name changed to Federated Hermes Prime Cash Obligations Fund*

EXHIBIT P

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**Federated Prime Cash Obligations Fund**

**Trust Shares**

This Exhibit to the Distribution Plan is adopted by Money Market Obligations Trust on the 14th day of May, 2015, with respect to the Class of Shares of the portfolio of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.25 of 1% of the average aggregate net asset value of the Class of Shares of the portfolio of Money Market Obligations Trust set forth above held during the month.

Witness the due execution hereof this 1st day of<u> </u>June, 2015.

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u>

Name: J. Christopher Donahue

Title: President

*6/29/20 – Name changed to Federated Hermes Prime Cash Obligations Fund*

EXHIBIT Q

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**Federated Prime Cash Obligations Fund**

**Cash II Shares**

This Exhibit to the Distribution Plan is adopted by Money Market Obligations Trust on the 14th day of May, 2015, with respect to the Class of Shares of the portfolio of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.35 of 1% of the average aggregate net asset value of the Class of Shares of the portfolio of Money Market Obligations Trust set forth above held during the month.

Witness the due execution hereof this 1st day of<u> </u>June, 2015.

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u>

Name: J. Christopher Donahue

Title: President

*6/29/20 – Name changed to Federated Hermes Prime Cash Obligations Fund*

EXHIBIT R

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**Federated Prime Cash Obligations Fund**

**Cash Series Shares**

This Exhibit to the Distribution Plan is adopted by Money Market Obligations Trust on the 14th day of May, 2015, with respect to the Class of Shares of the portfolio of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.60 of 1% of the average aggregate net asset value of the Class of Shares of the portfolio of Money Market Obligations Trust set forth above held during the month.

Witness the due execution hereof this 1st day of<u> </u>June, 2015.

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u>

Name: J. Christopher Donahue

Title: President

*6/29/20 – Name changed to Federated Hermes Prime Cash Obligations Fund*

EXHIBIT S

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**Federated Prime Cash Obligations Fund**

**Class R Shares**

This Exhibit to the Distribution Plan is adopted by Money Market Obligations Trust on the 14th day of May, 2015, with respect to the Class of Shares of the portfolio of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.50 of 1% of the average aggregate net asset value of the Class of Shares of the portfolio of Money Market Obligations Trust set forth above held during the month.

Witness the due execution hereof this 1st day of<u> </u>June, 2015.

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u>

Name: J. Christopher Donahue

Title: President

*6/29/20 – Name changed to Federated Hermes Government Obligations Fund*

EXHIBIT T

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**Federated Government Obligations Fund**

**Cash Series Shares**

This Exhibit to the Distribution Plan is adopted by Money Market Obligations Trust on the 14th day of May, 2015, with respect to the Class of Shares of the portfolio of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.60 of 1% of the average aggregate net asset value of the Class of Shares of the portfolio of Money Market Obligations Trust set forth above held during the month.

Witness the due execution hereof this 1st day of<u> </u>June, 2015.

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u>

Name: J. Christopher Donahue

Title: President

*6/29/20 – Name changed to Federated Hermes Government Obligations Fund*

EXHIBIT U

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**Federated Government Obligations Fund**

**Cash II Shares**

This Exhibit to the Distribution Plan is adopted by Money Market Obligations Trust on the 14th day of May, 2015, with respect to the Class of Shares of the portfolio of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.35 of 1% of the average aggregate net asset value of the Class of Shares of the portfolio of Money Market Obligations Trust set forth above held during the month.

Witness the due execution hereof this 1st day of<u> </u>June, 2015.

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u>

Name: J. Christopher Donahue

Title: President

*6/29/20 – Name changed to Federated Hermes Municipal Obligations Fund*

EXHIBIT V

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**Federated Municipal Obligations Fund**

**Cash II Shares**

This Exhibit to the Distribution Plan is adopted by Money Market Obligations Trust on the 14th day of May, 2015, with respect to the Class of Shares of the portfolio of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.35 of 1% of the average aggregate net asset value of the Class of Shares of the portfolio of Money Market Obligations Trust set forth above held during the month.

Witness the due execution hereof this 1st day of<u> </u>June, 2015.

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u>

Name: J. Christopher Donahue

Title: President

*6/29/20 – Name changed to Federated Hermes Municipal Obligations Fund*

EXHIBIT W

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**Federated Municipal Obligations Fund**

**Cash Series Shares**

This Exhibit to the Distribution Plan is adopted by Money Market Obligations Trust on the 14th day of May, 2015, with respect to the Class of Shares of the portfolio of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.60 of 1% of the average aggregate net asset value of the Class of Shares of the portfolio of Money Market Obligations Trust set forth above held during the month.

Witness the due execution hereof this 1st day of<u> </u>June, 2015.

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u>

Name: J. Christopher Donahue

Title: President

*Trust Shares were re-designated to Automated Shares 9-28-17.*

 

EXHIBIT X

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**Federated Municipal Obligations Fund**

**Trust Shares**

This Exhibit to the Distribution Plan is adopted by Money Market Obligations Trust on the 14th day of May, 2015, with respect to the Class of Shares of the portfolio of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.25 of 1% of the average aggregate net asset value of the Class of Shares of the portfolio of Money Market Obligations Trust set forth above held during the month.

Witness the due execution hereof this 1st day of<u> </u>June, 2015.

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u>

Name: J. Christopher Donahue

Title: President

*6/29/20 – Name changed to Federated Hermes Municipal Obligations Fund*

EXHIBIT Y

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**Federated Municipal Obligations Fund**

**Investment Shares**

This Exhibit to the Distribution Plan is adopted by Money Market Obligations Trust on the 14th day of May, 2015, with respect to the Class of Shares of the portfolio of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.25 of 1% of the average aggregate net asset value of the Class of Shares of the portfolio of Money Market Obligations Trust set forth above held during the month.

Witness the due execution hereof this 1st day of<u> </u>June, 2015.

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u>

Name: J. Christopher Donahue

Title: President

*6/29/20 – Name changed to Federated Hermes California Municipal Cash Trust*

EXHIBIT Z

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**Federated California Municipal Cash Trust**

**Investment Shares**

This Exhibit to the Distribution Plan is adopted by Money Market Obligations Trust on the 14th day of May, 2015, with respect to the Class of Shares of the portfolio of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.25 of 1% of the average aggregate net asset value of the Class of Shares of the portfolio of Money Market Obligations Trust set forth above held during the month.

Witness the due execution hereof this 1st day of<u> </u>June, 2015.

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u>

Name: J. Christopher Donahue

Title: President

*6/29/20 – Name changed to Federated Hermes Government Reserves Fund*

EXHIBIT AA

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**Federated Government Reserves Fund**

**Class A Shares**

This Exhibit to the Distribution Plan is adopted by Money Market Obligations Trust on the 14th day of May, 2015, with respect to the Class of Shares of the portfolio of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.45 of 1% of the average aggregate net asset value of the Class of Shares of the portfolio of Money Market Obligations Trust set forth above held during the month.

Witness the due execution hereof this 1st day of<u> </u>June, 2015.

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u>

Name: J. Christopher Donahue

Title: President

*6/29/20 – Name changed to Federated Hermes Government Reserves Fund*

EXHIBIT BB

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**Federated Government Reserves Fund**

**Class C Shares**

This Exhibit to the Distribution Plan is adopted by Money Market Obligations Trust on the 14th day of May, 2015, with respect to the Class of Shares of the portfolio of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.75 of 1% of the average aggregate net asset value of the Class of Shares of the portfolio of Money Market Obligations Trust set forth above held during the month.

Witness the due execution hereof this 1st day of<u> </u>June, 2015.

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u>

Name: J. Christopher Donahue

Title: President

*6/29/20 – Name changed to Federated Hermes Government Reserves Fund*

EXHIBIT CC

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**Federated Government Reserves Fund**

**Class F Shares**

This Exhibit to the Distribution Plan is adopted by Money Market Obligations Trust on the 14th day of May, 2015, with respect to the Class of Shares of the portfolio of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.45 of 1% of the average aggregate net asset value of the Class of Shares of the portfolio of Money Market Obligations Trust set forth above held during the month.

Witness the due execution hereof this 1st day of<u> </u>June, 2015.

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u>

Name: J. Christopher Donahue

Title: President

*6/29/20 – Name changed to Federated Hermes Government Obligations Fund*

EXHIBIT DD

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

**Federated Government Obligations Fund**

**Class R Shares**

This Exhibit to the Distribution Plan is adopted by Money Market Obligations Trust on the 11<sup>th</sup> day of November, 2015, with respect to the Class of Shares of the portfolio of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.50 of 1% of the average aggregate net asset value of the Class of Shares of the portfolio of Money Market Obligations Trust set forth above held during the month.

Witness the due execution hereof this 1st day of<u> </u>December, 2015.

**MONEY MARKET OBLIGATIONS TRUST**

By: <u>/s/ J. Christopher Donahue</u>

Name: J. Christopher Donahue

Title: President

*3/1/23-See Amendment #1 to Exhibit EE*

 

*6/29/20 – Name changed to Federated Hermes Government Obligations Fund*

EXHIBIT EE

to the

Distribution Plan

**MONEY MARKET OBLIGATIONS TRUST:**

***Federated Government Obligations Fund***

***Administrative Shares***

This Exhibit to the Distribution Plan is adopted by Money Market Obligations Trust on the 18<sup>th</sup> day of August, 2017, with respect to the Class of Shares of the portfolio of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.25 of 1% of the average aggregate net asset value of the Class of Shares of the portfolio of Money Market Obligations Trust set forth above held during the month.

Witness the due execution hereof this 1st day of<u> </u>September, 2017.

**MONEY MARKET OBLIGATIONS TRUST**

By:<u>/s/ J. Christopher Donahue</u>

Name: J. Christopher Donahue

Title: President

Amendment #1 to EXHIBIT EE

to the

Distribution Plan

**FEDERATED HERMES**

**MONEY MARKET OBLIGATIONS TRUST**

Federated Hermes Government Obligations Fund

Administrative Shares

This Exhibit to the Distribution Plan is adopted by Federated Hermes Money Market Obligations Trust on the 1<sup>st</sup> day of March 2023, with respect to the Class of Shares of the portfolio of the Trust set forth above.

As compensation for the services provided pursuant to this Plan, FSC will be paid a monthly fee computed at the annual rate of 0.10 of 1% of the average aggregate net asset value of the Class of Shares of the portfolio of Federated Hermes Money Market Obligations Trust set forth above held during the month.

Witness the due execution hereof this 1st day of March, 2023.

**FEDERATED HERMES MONEY MARKET OBLIGATIONS TRUST**

By:_______________________________

Name: J. Christopher Donahue

Title: President

## Cover

FEDERATED HERMES MONEY MARKET OBLIGATIONS TRUST

4000 Ericsson Drive<br> Warrendale, Pennsylvania 15086-7561

March 21, 2023

EDGAR Operations Branch<br> U.S. Securities and Exchange Commission<br> Division of Investment Management<br> 100 F Street, N.E.<br> Washington, DC 20549-4720

RE: FEDERATED HERMES MONEY MARKET OBLIGATIONS TRUST (the "Registrant") Federated Hermes Trust for U.S. Treasury Obligations (the "Fund") 1933 Act File No. 33-31602 1940 Act File No. 811-05950

Dear Sir or Madam:

Post-Effective Amendment No. 249 under the Securities Act of 1933 and Amendment No. 251 under the Investment Company Act of 1940 to the Registration Statement of the above-named Registrant is hereby electronically transmitted.

As indicated on the facing page of the Amendment, the Registrant has specified that it is to become effective June 1, 2023 pursuant to the provisions of Rule 485(a)(1) under the Securities Act of 1933. A Rule 485(a) filing is being made to add Service Shares to the Fund.

The Fund may be marketed through banks, savings associations or credit unions.

The Fund's Prospectus includes the Financial Highlights and related performance disclosures of an illustrative existing share class. The Financial Highlights for Federated Hermes Trust for U.S. Treasury Obligations includes its July 31, 2022, annual financial information and will be updated by amendment to include its semi-annual financial information as of January 31, 2023, to be filed in its semi-annual report at the end of March 2023. The Fund will file an auditor consent in a Rule 485(b) filing on or about June 1, 2023, to become effective on June 1, 2023, simultaneously with the effectiveness of the Registrant's Rule 485(a) post-effective amendment.

The Registration respectfully requests comments within 45 days of this filing.

If you have any questions on the enclosed material, please contact me at (724) 720-8209 or via e-mail at kim.mccann@federatedhermes.com.

Very truly yours

/s/Kimberly McCann<br> Kimberly McCann<br> Senior Paralegal