Document:

Exhibit 4(b) 

FEE AGREEMENT
  

        THIS
FEE AGREEMENT (the “Fee Agreement”), dated as of February 28, 2005, is entered
into by and between FUND ASSET MANAGEMENT, L.P. (the “Investment Adviser”) and
MERRILL LYNCH VALUE OPPORTUNITIES FUND, INC. (the “Fund”). 

        WHEREAS,
the Fund intends to invest substantially all of its assets in Master Value Opportunities
Trust (the “Trust”), a mutual fund that has the same investment objectives and
strategies as the Fund; 

        WHEREAS,
the Investment Adviser has entered into an investment advisory agreement (the “Feeder
Agreement”) with the Fund whereby the Investment Adviser provides certain investment
advisory services to the Fund; 

        WHEREAS,
the Investment Adviser desires not to calculate or charge its fees to the extent
necessary to avoid charging the Fund for services provided under the Feeder Agreement to
the extent that such services are provided pursuant to the Trust’s investment
advisory agreement with the Investment Adviser (the “Master Agreement”) in
connection with the assets invested by the Fund in the Trust; 

        WHEREAS,
the Investment Adviser understands and intends that the Fund will rely on this Fee
Agreement in preparing post-effective amendments to the Fund’s registration
statement on Form N-1A and in accruing the expenses of the Fund for purposes of
calculating net asset value and for other purposes, and expressly permits the Fund to do
so; and  

        WHEREAS,
the shareholders of the Fund will benefit from this Fee Agreement by incurring lower
operating expenses than they would absent this Fee Agreement. 

        NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, the Investment Adviser agrees not to include the advisory fees due
under the Feeder Agreement in the calculation of the overall fees to be paid to the
Investment Adviser under the Feeder Agreement and Master Agreement so as not to charge an
advisory fee under the Feeder Agreement so long as the Fund invests substantially all of
its assets in the Trust. This Fee Agreement shall be effective with respect to the Fund
for as long as the Fund invests in the Trust. 

 
	 	
	 

        IN
WITNESS WHEREOF, the Investment Adviser and the Fund have agreed to this Fee Agreement as
of the day and year first above written. 

	  	 FUND ASSET MANAGEMENT,
      L.P 

	  	 By: Princeton
      Services, Inc., 

      its General Partner 

	  	 By: _________________________________

	  	 Name: 

      Title: 

	  	 MERRILL LYNCH
      VALUE OPPORTUNITIES 

      FUND, INC. 

	  	 By: _________________________________

	  	 Name: 

      Title: 

 
	 	
2exv4w2

 

Exhibit 4.2

	COMMON SHARES
ONE
THIS CERTIFICATE IS TRANSFERABLE
IN CANTON, MA, JERSEY CITY, NJ AND NEW YORK, NY
This Certifies thatPalm, Inc.
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARECOMMON SHARES
CUSIP 696643 10 5
SEE REVERSE FOR CERTAIN DEFINITIONS
is the record holder ofFULLY PAID AND NON-ASSESSABLE SHARES OF THE COMMON STOCK, PAR VALUE $0.001
PER SHARE, OF Palm, Inc. transferable only on the books of the Corporation by the holder hereof in person or by duly
authorized Attorney upon surrender of this Certificate properly endorsed. This Certificate is not
valid unless countersigned and registered by the Transfer Agent and
Registrar. In Witness Whereof, the Corporation has caused this Certificate to be executed and attested to by
the manual or facsimile signatures of its duly authorized officers, under a facsimile of its
corporate seal affixed hereto. Dated:
REGISTERED:
Trust
COMPANY,
AUTHORIZED
TRANSFER N.A. AND SIGNATURE REGISTRAR AGENT

 

Palm, Inc.

     Upon request the Corporation will furnish any holder of shares of Common Stock of the
Corporation, without charge, with a full statement of the powers, designations, preferences, and
relative, participating, optional or other special rights of any class or series of capital stock
of the Corporation, and the qualifications, limitations or restrictions of such preferences and/or
rights.

     The following abbreviations, when used in the inscription on the face of this
certificate, shall be construed as though they were written out in full according to applicable
laws or regulations:

	 	 	 	 	 
	TEN COM

	 	—
	 	as tenants in common
	TEN ENT

	 	—
	 	as tenants by the entireties
	JT TEN

	 	—
	 	as joint tenants with right of

survivorship and not as tenants

in common

	 	 	 	 	 	 	 	 	 	 	 
	UNIF GIFT MIN ACT

	 	—
	 	 	 	Custodian	 	 	 	 
	 

	 	 	 	 
	 	 	 	 

	 

	 	 	 	(Cust)
	 	 	 	(Minor)
	 	 
	 	 	under Uniform Gifts to Minors
	 

	 	Act	 	 	 	 	 	 	 	 
	 	 	 	 	 

	 

	 	 	 	 	 	(State)	 	 	 	 

Additional abbreviations may also be used though not in the above list.

	 	 	 	 	 
	For value received,

	 	 	 	hereby sell, assign and transfer
unto
	 

	 	 
	 	 

PLEASE
INSERT SOCIAL SECURITY OR OTHER
IDENTIFYING NUMBER OF ASSIGNEE

      

      

      

	 	 	 
	 

	(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)
	 
	 

	 
	 

	 
	 

	 
	Shares 

	of Common Stock represented by the within Certificate, and do hereby irrevocably constitute and appoint
	 
	Attorney 

	to transfer the said stock on the books of the within named Corporation with full power of substitution in the premises.

	 	 	 	 	 
	Dated

	 	 	 	 
	 

	 	 
	 	 

In presence of

	 	 	 	 	 	 	 	 	 
	X

	 	 	 	 	 	 	 	X
	 

	 	 

	 	 
	 	 	 	 

	 

	 	 	 	 	 	NOTICE:
	 	THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME
AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR,
WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.

Signature(s) Guaranteed

	 	 	 	 	 
	By

	 	 	 	 
	 

	 	 
	 	 
	THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE
GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND
LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN
APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT
TO SEC RULE 17Ad-15.	 	 

THIS CERTIFICATE ALSO EVIDENCES AND ENTITLES THE HOLDER HEREOF TO CERTAIN RIGHTS AS SET FORTH
IN A RIGHTS AGREEMENT BETWEEN PALM, INC. AND FLEET NATIONAL BANK, AS THE RIGHTS AGENT, DATED AS OF
SEPTEMBER 25, 2000, AS AMENDED (THE “RIGHTS AGREEMENT”), THE TERMS OF WHICH ARE HEREBY INCORPORATED
HEREIN BY REFERENCE AND A COPY OF WHICH IS ON FILE AT THE PRINCIPAL EXECUTIVE OFFICES OF PALM, INC.
UNDER CERTAIN CIRCUMSTANCES, AS SET FORTH IN THE RIGHTS AGREEMENT, SUCH RIGHTS WILL BE EVIDENCED BY
SEPARATE CERTIFICATES AND WILL NO LONGER BE EVIDENCED BY THIS CERTIFICATE. PALM, INC. WILL MAIL TO
THE HOLDER OF THIS CERTIFICATE A COPY OF THE RIGHTS AGREEMENT WITHOUT CHARGE AFTER RECEIPT OF A
WRITTEN REQUEST THEREFOR. UNDER CERTAIN CIRCUMSTANCES SET FORTH IN THE RIGHTS AGREEMENT, RIGHTS
ISSUED TO, OR HELD BY, ANY PERSON WHO IS, WAS OR BECOMES AN ACQUIRING PERSON OR ANY AFFILIATE OR
ASSOCIATE THEREOF (AS SUCH TERMS ARE DEFINED IN THE RIGHTS AGREEMENT), WHETHER CURRENTLY HELD BY OR
ON BEHALF OF SUCH PERSON OR BY ANY SUBSEQUENT HOLDER, MAY BECOME NULL AND VOID.

EQUISERVE TRUST COMPANY, N.A. IS THE SUCCESSOR RIGHTS AGENT TO THE ABOVE-REFERENCED AGREEMENT.EXHIBIT 4.6

 

Exhibit 4.6

CERTIFICATE OF OWNERSHIP AND MERGER

MERGING

PALM, INC.

INTO

PALMONE, INC.

     Pursuant to Section 253 of the General Corporation Law of the State of Delaware, palmOne, Inc.
(the “Company”), a corporation organized and existing under the laws of Delaware,

DOES HEREBY CERTIFY:

FIRST: That the Company was incorporated as Palm, Inc. on December 17, 1999 pursuant to the
General Corporation Law of the State of Delaware.

SECOND: That the Company changed its name to palmOne, Inc. effective as of October 29, 2003
pursuant to the merger of PLMO Merger Corporation with and into Palm, Inc.

THIRD: That the Company owns all of the outstanding shares of the capital stock of Palm, Inc., a
corporation incorporated on July 7, 2005 pursuant to the General Corporation Law of the State of
Delaware.

FOURTH: That the Company, by the following resolutions of its Board of Directors, duly adopted by
unanimous written consent effective as of July 11, 2005, determined to merge Palm, Inc. with and
into the Company:

WHEREAS, the Company owns all of the outstanding capital stock of Palm, Inc., a Delaware
corporation (“Palm”).

WHEREAS, the Board of Directors of the Company (the “Board”) has determined it to be
advisable and in the best interests of the Company and its stockholders to merge Palm with
and into the Company pursuant to Section 253 of the Delaware General Corporation Law to
change the Company’s name to “Palm, Inc.”

NOW, THEREFORE, BE IT RESOLVED, that the Board hereby authorizes the Company to merge with
Palm, with the Company being the surviving corporation, and to assume all of Palm’s
liabilities and obligations (the “Merger”).

 

 

RESOLVED FURTHER, that the Merger shall be effective on July 14, 2005 in connection with the
filing of a Certificate of Ownership and Merger with the Secretary of State of the State of
Delaware.

RESOLVED FURTHER, that upon the effectiveness of the Merger, the name of the Company shall
be changed to “Palm, Inc.” and Article I of the Amended and Restated Certificate of
Incorporation of the Company shall be amended to read in its entirety as follows:

“ARTICLE I

The name of the Corporation is Palm, Inc. (the “Corporation”).”

RESOLVED FURTHER, that the Board of Directors hereby authorizes and directs the appropriate
officers of the Company (the “Authorized Persons”), and each of them, to execute and file
all documents, including a Certificate of Ownership and Merger, and to take all other
actions which they deem necessary or desirable to carry out the intent or accomplish the
purposes of the foregoing resolutions.

- 2 -

 

     IN WITNESS WHEREOF, palmOne, Inc. has caused this certificate to be signed by Mary E. Doyle,
its Senior Vice President, this 11th day of July 2005.

	 	 	 	 	 
	 	PALMONE, INC.

 	 
	 	By:  	/s/ Mary E. Doyle
 	 
	 	 	Name:  	Mary E. Doyle 	 
	 	 	Title:  	Senior Vice President 	 
	 

- 3 -

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