Document:

Exhibit 10.27

 

 

INVESTMENT
MANAGEMENT AGREEMENT

 

 

THIS AGREEMENT, dated as
of April 10, 2009, is entered into by and between Ivy Funds Variable
Insurance Portfolios (the “Trust”) and Waddell & Reed Investment
Management Company (“WRIMCO”), with respect to each series of the Trust listed
in Appendix A (each, a “Fund”).

 

WITNESSETH:

 

In consideration of the
mutual promises and agreements herein contained and other good and valuable
consideration, the receipt of which is hereby acknowledged, it is hereby agreed
by and between the parties hereto as follows:

 

I.            In General

 

WRIMCO agrees to act as
investment adviser to each Fund with respect to the investment of its assets
and in general to supervise the investments of each Fund, subject at all times
to the direction and control of the Board of Trustees of the Trust, all as more
fully set forth herein.

 

II.           Duties of WRIMCO with respect to
investment of assets of the Trust

 

A. WRIMCO shall regularly
provide investment advice to each Fund and shall, subject to the succeeding
provisions of this section, continuously supervise the investment and
reinvestment of cash, securities or other property comprising the assets of the
investment portfolios of each Fund; and in furtherance thereof, WRIMCO shall as
to each Fund:

 

1.    obtain and evaluate pertinent information
about significant developments and economic, statistical and financial data,
domestic, foreign or otherwise, whether affecting the economy generally or one
or more of the portfolios of the Fund, and whether concerning the individual
companies whose securities are included in the Fund’s portfolios or the
industries in which they engage, or with respect to securities which WRIMCO
considers desirable for inclusion in the Fund’s portfolio;

 

2.    furnish continuously an investment program
for the Fund;

 

3.    determine what securities shall be purchased
or sold by the Fund; and

 

4.    take, on behalf of the Fund, all actions
which appear to WRIMCO necessary to carry into effect such investment programs
and supervisory functions as aforesaid, including the placing of purchase and
sell orders.

 

B. Subject to the
provisions of this Agreement and the requirements of the Investment Company Act
of 1940 (and any rules or regulations in force thereunder), WRIMCO is
authorized

 

 

 

to appoint one or more
qualified investment sub-advisers
(each, a “Sub-Adviser”) to provide the Funds with certain services required by
this Agreement. Each Sub-Adviser shall have such investment discretion and
shall make all determinations with respect to the investment of the Funds’
assets as shall be assigned to that Sub-Adviser by WRIMCO and the purchase and
sale of portfolio securities and other financial instruments with respect to
those assets.

 

Subject to the
supervision and direction of the Board of Trustees of each Fund WRIMCO shall:

 

1.   have overall supervisory responsibility for
the general management and investment of the Fund’s assets;

 

2.   determine the allocation and reallocation of
assets among the Sub-Advisers, if any; and

 

3.   have full investment discretion to make all
determinations with respect to the investment of a Funds’ assets not otherwise
assigned to a Sub-Adviser.

 

WRIMCO shall research and
evaluate each Sub-Adviser, if any, including: performing initial due diligence
on prospective Sub-Advisers and monitoring each Sub-Adviser’s ongoing
performance; communicating performance expectations and evaluations to each
Sub-Adviser; and recommending to the Board of Trustees of each Fund whether a
Sub-Adviser’s contract should be renewed, modified or terminated. When
appropriate, WRIMCO shall also recommend to the Board of Trustees of each Fund
changes or additions to the Sub-Advisers.

 

C. WRIMCO shall make
appropriate and regular reports to the Board of Trustees of the Trust on the
actions it takes pursuant to Section ILA. above. Any investment programs
furnished by WRIMCO under this section, or any supervisory function taken
hereunder by WRIMCO shall at all times conform to and be in accordance with any
requirements imposed by:

 

1.   the provisions of the Investment Company Act
of 1940 Act, as amended (“1940 Act”) and any rules or regulations in force
thereunder;

 

2.   any other applicable provision of law;

 

3.   the provisions of the Trust Instrument of the
Trust as amended from time to time;

 

4.   the provisions of the Bylaws of the Trust as
amended from time to time;

 

5.   the terms of the registration statements of
the Trust, as amended from time to time, under the Securities Act of 1933 and
the 1940 Act.

 

D. Any investment
programs furnished by WRIMCO under this section or any supervisory functions
taken hereunder by WRIMCO shall at all times be subject to any directions of
the Board of Trustees of the Trust, its Executive Committee, or any committee
or officer of the Trust acting pursuant to authority given by the Board of
Trustees.

 

 

2

 

III.        Allocation of Expenses

 

The expenses of the Trust
and the expenses of WRIMCO in performing its functions under this Agreement
shall be divided into two classes, to wit: (i) those expenses which will
be paid in full by WRIMCO as set forth in subparagraph “A” hereof, and (ii) those
expenses which will be paid in full by each Fund, as set forth in subparagraph “B”
hereof.

 

A.    With respect to the duties of WRIMCO under Section II
above, it shall pay in full, except as to the brokerage and research services
acquired through the allocation of commissions as provided in Section IV
hereinafter, for (a) the salaries and employment benefits of all employees
of WRIMCO who are engaged in providing these advisory services; (b) adequate
office space and suitable office equipment for such employees; and (c) all
telephone and communications costs relating to such functions. In addition,
WRIMCO shall pay the fees and expenses of all trustees of the Trust who are
employees of WRIMCO or an affiliated corporation and the salaries and
employment benefits of all officers of the Trust who are affiliated persons of
WRIMCO.

 

B.    The Funds shall pay in full for all of their
respective expenses which are not listed above (other than those assumed by
WRIMCO or its affiliates in their respective capacities as principal
underwriter of the shares of each of the Funds, as Shareholder Servicing Agent
or as Accounting Services Agent for the Funds), including (a) the costs of
preparing and printing prospectuses and reports to shareholders of the Funds,
including mailing costs; (b) the costs of printing all proxy statements
and all other costs and expenses of meetings of shareholders of the Funds
(unless the Trust and WRIMCO shall otherwise agree); (c) interest, taxes,
brokerage commission and premiums on fidelity and other insurance; (d) audit
fees and expenses of independent accountants and legal fees and expenses of
attorneys, but not of attorneys who are employees of WRIMCO or an affiliated
company; (e) fees and expenses of its trustees not affiliated with WRIMCO
or its affiliates; (f) custodian fees and expenses; (g) fees payable
by the Trust and/or the Funds under the Securities Act of 1933, the 1940 Act and
the securities or “Blue-Sky” laws of any jurisdiction; (h) fees and
assessments of the Investment Company Institute or any successor organization; (i) such
nonrecurring or extraordinary expenses as may arise, including litigation
affecting the Trust and/or the Funds, and any indemnification by the Trust of
its officers, directors, employees and agents with respect thereto; (j) the
costs and expenses provided for in any Shareholder Servicing Agreement or
Accounting Services Agreement, including amendments thereto, contemplated by
subsection C of this Section III. In the event that any of the foregoing
shall, in the first instance, be paid by WRIMCO, a Fund shall pay the same to
WRIMCO on presentation of a statement with respect thereto.

 

C.    WRIMCO, or an affiliate of WRIMCO, may also
act as (i) transfer agent or shareholder servicing agent of each Fund of
the Trust and/or as (ii) accounting services agent of each Fund of the
Trust if at the time in question there is a separate agreement, “Shareholder
Servicing Agreement” and/or “Accounting Services Agreement,” covering such
functions between the Trust and WRIMCO or such affiliate. The corporation,
whether WRIMCO or its affiliate, which is the party to such Agreement with the
Trust is referred to as the “Agent.” Each such Agreement shall provide in
substance that it shall not go into effect, or be amended, or a new agreement
covering the same topics between the Trust and the Agent be entered into as to
a Fund, unless the terms of such Agreement, such amendment or such new
agreement have been

 

 

3

 

approved by the Board of
Trustees of the Trust, including the vote of a majority of the trustees who are
not “interested persons” as defined in the 1940 Act, of either party to the
Agreement, such amendment or such new agreement (considering WRIMCO to be such
a party even if at the time in question the Agent is an affiliate of WRIMCO),
cast in person at a meeting called for the purpose of voting on such approval.
Such a vote is referred to as a “disinterested trustee” vote. Each such
Agreement shall also provide in substance for its continuance, unless
terminated, for a specified period which shall not exceed two years from the
date of its execution and from year to year thereafter only if such continuance
is specifically approved at least annually by a disinterested trustee vote, and
that any disinterested trustee vote shall include a determination that (i) the
Agreement, amendment, new agreement or continuance in question is in the best
interests of each affected Fund and its shareholders; (ii) the services to
be performed under the Agreement, the Agreement as amended, new agreement or
agreement to be continued are services required for the operation of the Fund; (iii) the
Agent can provide services the nature and quality of which are at least equal
to those provided by others offering the same or similar services; and (iv) the
fees for such services are fair and reasonable in light of the usual and
customary charges made by others for services of the same nature and quality.
Any such Agreement may also provide in substance that any disinterested trustee
vote may be conditioned on the favorable vote of the holders of a majority (as
defined in or under the 1940 Act) of the outstanding shares of each class or
series of the Trust. Any such Agreement shall also provide in substance that it
may be terminated as to a Fund by the Agent at any time without penalty upon
giving the Trust one hundred twenty (120) days’ written notice (which notice
may be waived by the Trust) and may be terminated as to a Fund by the Trust at
any time without penalty upon giving the Agent sixty (60) days’ written notice
(which notice may be waived by the Agent), provided that such termination by
the Trust shall be directed or approved by the vote of a majority of the Board
of Trustees of the Trust in office at the time or by the vote of the holders of
a majority (as defined in or under the 1940 Act) of the outstanding shares of
each class or series of the Trust.

 

IV.        Brokerage

 

A.    WRIMCO may select brokers to effect the
portfolio transactions of each Fund on the basis of its estimate of their
ability to obtain, for reasonable and competitive commissions, the best
execution of particular and related portfolio transactions. For this purpose, “best
execution” means prompt and reliable execution at the most favorable price
obtainable. Such brokers may be selected on the basis of all relevant factors
including the execution capabilities required by the transaction or
transactions, the importance of speed, efficiency, or confidentiality, and the
willingness of the broker to provide useful or desirable investment research
and/or special execution services. WRIMCO shall have no duty to seek advance
competitive commission bids and may select brokers based solely on its current
knowledge of prevailing commission rates.

 

B.    Subject to the foregoing, WRIMCO shall have
discretion, in the interest of the Funds, to direct the execution of its
portfolio transactions to brokers who provide brokerage and/or research
services (as such services are defined in Section 28(e) of the
Securities Exchange Act of 1934) for the Funds and/or other accounts for which
WRIMCO exercises “investment discretion” (as that term is defined in Section 3(a)(35)
of the Securities Exchange Act of 1934); and in connection with such
transactions, to pay commission in excess of the amount another adequately
qualified broker would have charged if WRIMCO determines, in good faith, that
such

 

 

4

 

commission is reasonable
in relation to the value of the brokerage and/or research services provided by
such broker, viewed in terms of either that particular transaction or the
overall responsibilities of WRIMCO with respect to the accounts for which it
exercises investment discretion. In reaching such determination, WRIMCO will
not be required to attempt to place a specified dollar amount on the brokerage
and/or research services provided by such broker; provided that WRIMCO shall be
prepared to demonstrate that such determinations were made in good faith, and
that all commissions paid by the Funds over a representative period selected by
the Trust’s Board of Trustees were reasonable in relation to the benefits to
the Funds.

 

V.         Compensation of WRIMCO

 

As compensation in full
for services rendered and for the facilities and personnel furnished under
sections I, II, and IV of this Agreement, each Fund will pay to WRIMCO for
each day the fees specified in Appendix B hereto.

 

The amounts payable to
WRIMCO shall be determined as of the close of business each day; shall, except
as set forth below, be based upon the value of net assets computed in
accordance with the Trust Instrument; and shall be paid in arrears whenever
requested by WRIMCO. In computing the value of the net assets of each Fund,
there shall be excluded the amount owed to the Fund with respect to shares
which have been sold but not yet paid to the Fund by Waddell & Reed, Inc.

 

Notwithstanding the
foregoing, if the laws, regulations or policies of any state in which shares of
the Funds are qualified for sale limit the operation and management expenses of
the Funds, WRIMCO will refund to the Funds the amount by which such expenses
exceed the lowest of such state limitations.

 

VI.        Undertakings of WRIMCO; Liabilities

 

WRIMCO shall give to the
Trust the benefit of its best judgment, efforts and facilities in rendering
advisory services hereunder.

 

WRIMCO shall at all times
be guided by and be subject to each Fund’s investment policies, the provisions
of the Trust Instrument and Bylaws of the Trust as each shall from time to time
be amended, and to the decision and determination of the Trust’s Board of
Trustees.

 

This Agreement shall be
performed in accordance with the requirements of the 1940 Act, the Investment
Advisers Act of 1940, the Securities Act of 1933, and the Securities Exchange
Act of 1934, to the extent that the subject matter of this Agreement is within
the purview of such Acts. Insofar as applicable to WRIMCO as an investment
adviser and affiliated person of the Trust, WRIMCO shall comply with the
provisions of the 1940 Act, the Investment Advisers Act of 1940 and the
respective rules and regulations of the Securities and Exchange Commission
thereunder.

 

In the absence of willful
misfeasance, bad faith, gross negligence or reckless disregard of obligations
or duties hereunder on the part of WRIMCO it shall not be subject to liability
to the Trust or to any shareholder of the Funds (direct or beneficial) for any
act or omission in the

 

 

5

 

course of or connected
with rendering services thereunder or for any losses that may be sustained in
the purchase, holding or sale of any security.

 

VII.       Duration of this Agreement

 

This Agreement shall
become effective on April 30, 2009 and shall continue in effect as to a
Fund, unless terminated as hereinafter provided, for a period of one year and
from year-to-year thereafter only if such continuance is specifically approved
at least annually by the Board of Trustees, including the vote of a majority of
the trustees who are not parties to this Agreement or “interested persons” (as
defined in the 1940 Act) of any such party, cast in person at a meeting called
for the purpose of voting on such approval, or by the vote of the holders of a
majority (as defined in the 1940 Act) of the outstanding voting securities of
the Fund.

 

VIII.     Termination

 

 

This Agreement may be
terminated as to a Fund by WRIMCO at any time without penalty upon giving the
Trust one hundred twenty (120) days’ written notice (which notice may be waived
by the Trust) and may be terminated as to a Fund by the Trust at any time
without penalty upon giving WRIMCO sixty (60) days’ written notice (which
notice may be waived by WRIMCO), provided that such termination by the Trust
shall be directed or approved by the vote of a majority of the Board of
Trustees of the Trust in office at the time or by the vote of a majority (as
defined in the 1940 Act) of the outstanding voting securities of the affected
Fund. This Agreement shall automatically terminate in the event of its
assignment, the term “assignment” for this purpose having the meaning defined
in Section 2(a)(4) of the 1940 Act and the rules and regulations
thereunder.

 

 

(The remainder of this
page intentionally left blank)

 

 

6

 

IN WITNESS WHEREOF, the
parties hereto have caused the foregoing instrument to be executed by their
duly authorized officers and their corporate seal to be hereunto affixed, all
as of the day and year first above written.

 

 

	
  (Seal)

  	
  IVY FUNDS VARIABLE
  INSURANCE

  
	
   

  	
  PORTFOLIOS

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/Mara
  Herrington

  	
   

  
	
   

  	
   

  	
  Mara Herrington

  
	
   

  	
   

  	
  Vice President

  

 

ATTEST:

 

	
  By:

  	
  /s/
  Megan E. Bray

  	
   

  
	
   

  	
  Megan E. Bray

  	
   

  
	
   

  	
  Assistant Secretary

  	
   

  

 

 

	
  (Seal)

  	
  WADDELL & REED
  INVESTMENT

  
	
   

  	
  MANAGEMENT COMPANY

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Henry J. Herrmann

  	
   

  
	
   

  	
   

  	
  Henry J. Herrmann

  
	
   

  	
   

  	
  President

  

 

ATTEST:

 

	
  By:

  	
  /s/
  Wendy J. Hills

  	
   

  
	
   

  	
  Wendy J. Hills

  	
   

  
	
   

  	
  Secretary

  	
   

  

 

 

7

 

APPENDIX
A

TO
INVESTMENT MANAGEMENT AGREEMENT

 

 

Ivy Funds VIP Global
Natural Resources

Ivy Funds VIP
International Value

Ivy Funds VIP Micro Cap
Growth

Ivy Funds VIP Mortgage
Securities

Ivy Funds VIP Real Estate
Securities

Ivy Funds VIP Small Cap
Value

 

 

8

 

APPENDIX B

TO INVESTMENT
MANAGEMENT AGREEMENT

 

IVY FUNDS VARIABLE INSURANCE
PORTFOLIOS FEE SCHEDULE

 

FEE SCHEDULE

 

 

A cash
fee computed each day on net asset value for each Fund at the annual rates
listed below:

 

 

	
  Global Natural Resources

  	
   

  
	
  Net Fund Assets

  	
  Fee

  
	
   

  	
   

  
	
  Up to $500 million

  	
  1.00%

  
	
  Over $500 million and
  up to $1 billion

  	
  0.85%

  
	
  Over $1 billion and up
  to $2 billion

  	
  0.83%

  
	
  Over $2 billion and up
  to $3 billion

  	
  0.80%

  
	
  Over $3 billion

  	
  0.76%

  
	
   

  	
   

  
	
  International Value

  	
   

  
	
  Net Fund Assets

  	
  Fee

  
	
   

  	
   

  
	
  Up to $1 billion

  	
  0.85%

  
	
  Over $1 billion and up
  to $2 billion

  	
  0.83%

  
	
  Over $2 billion and up
  to $3 billion

  	
  0.80%

  
	
  Over $3 billion

  	
  0.76%

  
	
   

  	
   

  
	
  Micro Cap Growth

  	
   

  
	
  Net Fund Assets

  	
  Fee

  
	
   

  	
   

  
	
  Up to $1 billion

  	
  0.95%

  
	
  Over $1 billion and up
  to $2 billion

  	
  0.93%

  
	
  Over $2 billion and up
  to $3 billion

  	
  0.90%

  
	
  Over $3 billion

  	
  0.86%

  
	
   

  	
   

  
	
  Mortgage Securities

  	
   

  
	
  Net Fund Assets

  	
  Fee

  
	
   

  	
   

  
	
  Up to $500 million

  	
  0.50%

  
	
  Over $500 million and
  up to $1 billion

  	
  0.45%

  
	
  Over $1 billion and up
  to $1.5 billion

  	
  0.40%

  
	
  Over $1.5 billion

  	
  0.35%

  

 

 

9

 

	
  Real Estate Securities

  	
   

  
	
  Net Fund Assets

  	
  Fee

  
	
   

  	
   

  
	
  Up to $1 billion

  	
  0.90%

  
	
  Over $1 billion and up
  to $2 billion

  	
  0.87%

  
	
  Over $2 billion and up
  to $3 billion

  	
  0.84%

  
	
  Over $3 billion

  	
  0.80%

  
	
   

  	
   

  
	
  Small Cap Value

  	
   

  
	
  Net Fund Assets

  	
  Fee

  
	
   

  	
   

  
	
  Up to $1 billion

  	
  0.85%

  
	
  Over $1 billion and up
  to $2 billion

  	
  0.83%

  
	
  Over $2 billion and up
  to $3 billion

  	
  0.80%

  
	
  Over $3 billion

  	
  0.76%

  

 

 

10Exhibit 10.29

 

 

SHAREHOLDER SERVICING AGREEMENT

 

 

THIS AGREEMENT, effective as of January 30,
2009, is entered into by and between Waddell & Reed Advisors Funds
(the “Trust”) and Waddell & Reed Services Company (“WRSCO”).

 

W I T N
E S S E T H :

 

WHEREAS, the Trust wishes to appoint WRSCO to be its
shareholder servicing agent with respect to each of its series listed in
Appendix A (each, a “Fund”) upon, and subject to, the terms and provisions of
this Agreement;

 

NOW THEREFORE, in consideration of the mutual
covenants contained in this Agreement, the parties agree as follows:

 

1.                                    Appointment as Shareholder Servicing Agent;
Acceptance.

 

(1)        The
Trust hereby appoints WRSCO to act as Shareholder Servicing Agent for each Fund
upon, and subject to, the terms and provisions of this Agreement.

 

(2)        WRSCO
hereby accepts the appointment as Shareholder Servicing Agent for each Fund and
agrees to act as such upon, and subject to, the terms and provisions of this
Agreement.

 

(3)        WRSCO
may appoint an entity or entities approved by the Trust in writing to perform
any portion of WRSCO’s duties hereunder (the “Subagent”).

 

2.         Definitions.

 

(1)                              In this Agreement -

 

(a)        The
term the “Act” means the Investment Company Act of 1940 as amended from time to
time;

 

(b)        The
term “account” means the shares of each Fund registered on the books of the
Trust in the name of a shareholder under a particular account registration
number and includes shares subject to instructions by the shareholder with
respect to periodic redemptions and/or reinvestment in additional shares of any
dividends payable on said shares;

 

(c)        The
term “affiliate” of a person shall mean a person controlling, controlled by, or
under common control with that person;

 

(d)        The
term “Class” shall mean each separate sub-class of a class of shares of the
Trust, as may now or in the future exist;

 

(e)        The
term “Fund” shall mean each separate class of shares of the Trust, as may now
or in the future exist;

 

 

 

(f)         The
term “officers’ instruction” means an instruction given on behalf of the Trust
to WRSCO and signed on behalf of the Trust by any one or more persons
authorized to do so by the Trust’s Board of Trustees;

 

(g)        The
term “prospectus” means the prospectus and statement of additional information
of the applicable Fund or Class from time to time in effect;

 

(h)        The
term “shares” means shares including fractional shares of each Fund, whether or
not such shares are evidenced by an outstanding stock certificate issued by the
Fund;

 

(i)         The
term “shareholder” shall mean the owner of record of shares of a Fund; and

 

(j)         The
term “share certificate” means a certificate representing shares of a Fund in
the form then currently in use by the Fund.

 

3.                                    Duties of WRSCO.

 

WRSCO shall perform such duties as shall be set
forth in this Paragraph 3 and in accordance with the practice stated in Exhibit A
of this Agreement or any amendment thereof, any or all of which duties may be
delegated to or performed by one or more Subagents pursuant to Paragraph (1 )
above.

 

(1)                              Transfers.

 

Subject to the provisions of this Agreement WRSCO
hereby agrees to perform the following functions as transfer agent for each
Fund:

 

(a)        Recording
the ownership, transfer, exchange and cancellation of ownership of shares of
each Fund on the books of the Trust;

 

(b)        Causing
the issuance, transfer, exchange and cancellation of share certificates;

 

(c)        Establishing
and maintaining records of accounts;

 

(d)        Computing
and causing to be prepared and mailed or otherwise delivered to shareholders
payment checks including bank wire transfers and notices of reinvestment in
additional shares of dividends, stock dividends or stock splits declared by
each Fund on shares and of redemption proceeds due by each Fund on redemption
of shares;

 

(e)        Causing
checking accounts to be available and maintained for shareholders who elect to
redeem shares by drawing checks on such accounts, including accepting or
rejecting signatures on all checks drawn on the checking account and notifying
the payor bank to dishonor any check WRSCO deems not to be validly signed;

 

(f)         Furnishing
to shareholders such information as may be reasonably required by the Trust,
including appropriate income tax information;

 

 

2

 

(g)        Addressing
and mailing to shareholders prospectuses, annual and semi-annual reports and
proxy materials for shareholder meetings prepared by or on behalf of the Funds;

 

(h)        Replacing
allegedly lost, stolen or destroyed share certificates in accordance with and
subject to procedures and conditions agreed upon and set out in officers’
instructions;

 

(i)         Maintaining
such books and records relating to transactions effected by WRSCO pursuant to
this Agreement as are required by the Act, or by rules or regulations
thereunder, or by any other applicable provisions of law, to be maintained by
the Trust or its transfer agent with respect to such transactions; preserving,
or causing to be preserved, any such books and records for such periods as may
be required by any such law, rule or regulation; furnishing the Trust such
information as to such transactions and at such time as may be reasonably
required by it to comply with applicable laws and regulations; and

 

(j)         Providing
such services and carrying out such responsibilities on behalf of the Trust ,
or imposed on WRSCO as the Funds’ transfer agent, not otherwise expressly
provided for in this Paragraph 3, as may be required by or be reasonably
necessary to comply with any statute, act, governmental rule, regulation or
directive or court order, including, without limitation, the requirements
imposed by the Tax Equity and Fiscal Responsibility Act of 1982 and the Income
and Dividend Tax Compliance Act of 1983 relating to the withholding of tax from
distributions to shareholders.

 

(2)                              Correspondence.

 

WRSCO agrees to deal with and answer all
correspondence from or on behalf of shareholders relating to its functions
under this Agreement.

 

(3)                              Anti-Money Laundering Delegation.

 

(a)        Delegation.  Each Fund hereby delegates to WRSCO, as agent
for such Fund, responsibility for the implementation and operation of the
following policies and procedures in connection with the Fund’s Anti-Money
Laundering (“AML”) Program, as applicable to WRSCO’s functions as defined in
the Agreement:  (i) know-your-customer
policies; (ii) monitoring accounts and identifying high risk accounts; (iii) policies
and procedures for reliance on third parties; (iv) policies and procedures
for correspondent accounts for foreign financial institutions and for private
banking accounts for non-U.S. persons; (v) no cash policy; (vi) detecting
and reporting suspicious activity; and (vii) all related recordkeeping
requirements, and WRSCO accepts such delegation.  WRSCO further agrees to cooperate with the
Fund’s AML Compliance Officer in the performance of WRSCO’s responsibilities
under the AML Program.

 

(b)        The
AML Program.  WRSCO hereby represents
and warrants that WRSCO has received a copy of each Fund’s AML Program and
undertakes to perform all responsibilities imposed on WRSCO as a “Service
Provider” thereunder.  Each Fund hereby
agrees to provide to WRSCO any amendment(s) to the AML Program promptly
after adoption of any such amendment(s) by the Fund.

 

(c)        Consent
to Examination.  WRSCO hereby
consents to:  (a) provide to federal
examination authorities information and records relating to the AML Program
maintained by

 

 

3

 

WRSCO;
and (b) the inspection of WRSCO by federal examination authorities for
purposes of the AML Program.

 

(d)        Anti-Money
Laundering Program.  WRSCO hereby
represents and warrants that WRSCO has implemented and enforces an anti-money
laundering program (“AMLP”) reasonably designed to comply with laws,
regulations and regulatory guidance applicable to the Fund and WRSCO, and
includes, if applicable:

 

a.         know-your-customer
policies;

 

b.         due
diligence policies for correspondent accounts for foreign financial
institutions and for private banking accounts for non-U.S. persons;

 

c.         reasonable
internal procedures and controls to detect and report suspicious activities;

 

d.         monitoring
accounts and identifying high-risk accounts;

 

e.         a
compliance officer or committee with responsibility for the anti-money
laundering program;

 

f.          employee
training, including that:  (i) new
employees receive AML training upon the commencement of their employment; and (ii) existing
employees receive AML training at the time such employees assume duties that
bring them into contact with possible money laundering activities;

 

g.         an
independent audit function; and

 

h.         recordkeeping
requirements.

 

(e)        Delivery
of Documents.  WRSCO agrees to
furnish to each Fund the following documents:

 

a.         a
copy of WRSCO’s AMLP as in effect on the date hereof, and any material
amendment thereto promptly after the adoption of any such amendment;

 

b.         a
copy of any deficiency letter sent by federal examination authorities
concerning WRSCO’s AMLP; and

 

c.         no
less frequently than annually, a report on WRSCO’s anti-money laundering
program that includes a certification to the Fund concerning WRSCO’s

 

implementation
of, and ongoing compliance with, its anti-money laundering program and a copy
of any audit report prepared with respect to WRSCO’s anti-money laundering
program.

 

(f)         Reports.  WRSCO will provide periodic reports
concerning WRSCO’s compliance with WRSCO’s AMLP and/or each Fund’s AML Program
at such times as may be reasonably requested by the Trust’s Board of Trustees
or the Anti-Money Laundering Compliance Officer.

 

 

4

 

4.                                    Compensation of WRSCO.

 

With respect to each Fund, the Trust agrees to pay
WRSCO for its services under this Agreement in accordance with the schedule as
then in effect set forth in Exhibit B of this Agreement or any amendment
thereof.  In addition, the Trust agrees to
reimburse WRSCO for the following “out-of-pocket” expenses of WRSCO within five
days after receipt of an itemized statement of such expenses, to the extent
that payment of such expenses has not been or is not to be made directly by the
Trust : (i) costs of stationery, appropriate forms, envelopes, checks,
postage, printing and mailing charges, including returned mail and proxies,
incurred by WRSCO with respect to materials and communications sent to
shareholders in carrying out its duties to the Trust under this Agreement, bank
charges for wire transfers pursuant to Section 3(1)(c) herein above,
and maintenance of shareholder checking accounts pursuant to Section 3(1)(e) herein
above; (ii) long distance telephone costs incurred by WRSCO for telephone
communications and microfilm and storage costs for transfer agency records and
documents; (iii) costs of all ancillary and supporting services and
related expenses (other than insurance premiums) reasonably required by and
provided to WRSCO, other than by its employees or employees of an affiliate,
with respect to functions of the Trust being performed by it in its capacity as
shareholder servicing agent hereunder, including legal advice and
representation in litigation to the extent that such payments are permitted
under Paragraph 7 of this Agreement and charges to shareholder servicing agent
made by any Subagent; (iv) costs for special reports or information
furnished on request pursuant to this Agreement and not specifically required
by WRSCO by Paragraph 3 of this Agreement; and (v) reasonable costs and
expenses incurred by WRSCO in connection with the duties of WRSCO described in
Paragraph (3)(1)(i).  In addition, the
Trust agrees to promptly pay over to WRSCO any fees or payment of charges it may
receive from a shareholder for services furnished to the shareholder by WRSCO.

 

Services and operations incident to the sale and
distribution of each Fund’s shares, including sales communications,
confirmations of investments (not including reinvestment of dividends) and the
clearing or collection of payments will not be for the account or at the
expense of the Trust under this Agreement.

 

5.                                    Right of Corporation to Inspect Records, etc.

 

The Trust will have the right under this Agreement
to perform on site inspection of records and accounts and to perform audits
directly pertaining to the Trust’s shareholder accounts serviced by WRSCO
hereunder at WRSCO’s or any Subagent’s facilities in accordance with reasonable
procedures and at the frequency necessary to assure proper administration of
the Agreement.  WRSCO will cooperate with
the Trust’s auditors or representatives of appropriate regulatory agencies and
furnish all reasonably requested records and data.

 

6.                                    Insurance.

 

WRSCO now has the insurance coverage described in Exhibit C,
attached hereto, and WRSCO will not take any action to eliminate or decrease
such coverage during the term of this Agreement without receiving the approval
of the Trust in advance of any change, except WRSCO, after giving reasonable
notice to the Trust, may eliminate or decrease any coverage if the premiums for
such coverage are substantially increased.

 

 

5

 

Each Fund, at its expense, will include as part of
its insurance coverages maintained pursuant to Section 17(j) of the
Act fidelity insurance with respect to forgery or alteration of checks drawn on
its checking account referred to in Section 3(1)(e) of this Agreement
subject to such deductible for this particular coverage as it may deem appropriate.  WRSCO will maintain at is expense such
insurance coverages with respect to WRSCO’s duties under Section 3(1)(e) for
loss caused by errors or omissions as it deems appropriate.  Any loss to a Fund by reason of the
deductible on coverages maintained by it hereunder shall be paid by WRSCO.

 

7.                                    Standard of Care; Indemnification.

 

WRSCO will at all times exercise due diligence and
good faith in performing its duties hereunder. 
WRSCO will make every reasonable effort and take all reasonably
available measures to assure the adequacy of its personnel and facilities as
well as the accurate performance of all services to be performed by it
hereunder within, at a minimum, the time requirements of any applicable
statutes, rules or regulations or as set forth in the prospectus.

 

WRSCO shall not be responsible for, and the Trust
agrees to indemnify WRSCO for any losses, damages or expenses (including
reasonable counsel fees and expenses) (i) resulting from any claim,
demand, action or suit not resulting from WRSCO’s failure to exercise good
faith or due diligence and arising out of or in connection with WRSCO’s duties
on behalf of the Trust hereunder; (ii) for any delay, error or omission by
reason of circumstances beyond its control, including acts of civil or military
authority, national emergencies, labor difficulties (except with respect to
WRSCO’s employees), fire, mechanical breakdown beyond its control, flood or
catastrophe, acts of God, insurrection, war, riots, terrorist attacks or
failure beyond its control of transportation, communication or power supply; or
(iii) for any action taken or omitted to be taken by WRSCO in good faith
in reliance on (a) the authenticity of any instrument or communication
reasonably believed by it to be genuine and to have been properly made and
signed or endorsed by an appropriate person, (b) the accuracy of any
records or information provided to it by the Trust, (c) any authorization
or instruction contained in any officers’ instruction, or (d) with respect
to the functions performed for the Trust listed under Paragraph 3(1) of
this Agreement, any advice of counsel approved by the Trust who may be
internally employed counsel or outside counsel, in either case for the Trust
and/or WRSCO.

 

In order for the rights to indemnification to apply,
it is understood that if in any case the Trust may be asked to indemnify or
hold WRSCO harmless, the Trust shall be advised of all pertinent facts
concerning the situation in question, and it is further understood that WRSCO
will use reasonable care to identify and notify the Trust promptly concerning
any situation which presents or appears likely to present a claim for
indemnification against the Trust.  The
Trust shall have the option to defend WRSCO against any claim which may be the
subject of this indemnification and, in the event that the Trust so elects, it
will so notify WRSCO and thereupon the Trust shall take over complete defense
of the claim and WRSCO shall sustain no further legal or other expenses in such
situation for which WRSCO shall seek indemnification under this Paragraph.  WRSCO will in no case confess any claim or
make any compromise in any case in which the Trust will be asked to indemnify
WRSCO except with the Trust’s prior written consent.

 

8.                                    Term of the Agreement; Taking Effect;
Amendments.

 

This Agreement shall become effective as to each
Fund at the start of business on the date hereof and shall continue, unless
terminated as hereinafter provided, for a period of one year and 

 

 

6

 

from
year to year thereafter, provided that such continuance shall be specifically
approved as provided below.

 

This Agreement shall go into effect, or may be
continued, or may be amended or a new agreement between the Trust and WRSCO
covering the substance of this Agreement may be entered into as to a Fund only
if the terms of this Agreement, such continuance, the terms of such amendment
or the terms of such new agreement have been approved by the Board of Trustees
of the Trust, including the vote of a majority of the trustees who are not “interested
persons,” as defined in the Act, of either party to this Agreement or of
Waddell & Reed Investment Management Company, cast in person at a
meeting called for the purpose of voting on such approval.  Such a vote is hereinafter referred to as a “disinterested
trustee vote.”

 

Any disinterested trustee vote shall include a
determination that (i) the Agreement, amendment, new agreement or
continuance in question is in the best interests of each affected Fund and its
shareholders; (ii) the services to be performed under the Agreement, the
Agreement as amended, new agreement or agreement to be continued, are services
required for the operation of the Fund; (iii) WRSCO can provide services
the nature and quality of which are at least equal to those provided by others
offering the same or similar services; and (iv) the fees for such services
are fair and reasonable in the light of the usual and customary charges made by
others for services of the same nature and quality.

 

9.                                    Termination.

 

(1)        This
Agreement may be terminated as to a Fund by WRSCO at any time without penalty
upon giving the Trust 120 days’ written notice (which notice may be waived by
the Trust) and may be terminated as to a Fund by the Trust at any time without
penalty upon giving WRSCO sixty (60) days’ written notice (which notice may be
waived by WRSCO), provided that such termination by the Trust shall be directed
or approved by the vote of a majority of the Board of Trustees of the Trust in
office at the time or by the vote of a majority of the outstanding voting
securities (as defined in or under the Act) of the Fund.

 

(2)        On
termination, WRSCO will deliver to the Trust or its designee all files,
documents and records of the affected Fund used, kept or maintained by WRSCO in
the performance of its services hereunder, including such of the Fund’s records
in machine readable form as may be maintained by WRSCO, as well as such summary
and/or control data relating thereto used by or available to WRSCO.

 

(3)        In
the event of any termination which involves the appointment of a new
shareholder servicing agent, including the Trust’s acting as such on its own
behalf, the Trust shall have the non-exclusive right to the use of the data
processing programs used by WRSCO in connection with the performance of its
duties under this Agreement without charge.

 

(4)        In
addition, on such termination or in preparation therefore, at the request of
the Trust and at the Trust’s expense WRSCO shall provide to the extent that its
capabilities then permit such documentation, personnel and equipment as may be
reasonably necessary in order for a new agent or the Trust to fully assume and
commence to perform the agency functions described in this Agreement with a
minimum disruption to each affected Fund’s activities.

 

 

7

 

10.                            Construction; Governing Law.

 

The headings used in this Agreement are for
convenience only and shall not be deemed to constitute a part hereof.  Whenever the context requires, words denoting
singular shall be read to include the plural. 
This Agreement and the rights and obligations of the parties hereunder,
shall be construed and interpreted in accordance with the laws of the State of
Kansas, except to the extent that the laws of the State of Delaware apply with
respect to share transactions.

 

11.                            Representations and Warranties of WRSCO.

 

WRSCO represents and warrants that it is a
corporation duly organized and existing and in good standing under the laws of
the State of Missouri, that it is duly qualified to carry on its business in
the State of Kansas and wherever its duties require, that it has the power and
authority under laws and by its Articles of Incorporation and Bylaws to enter
into this Shareholder Servicing Agreement and to perform the services
contemplated by this Agreement.

 

12.                            Entire Agreement.

 

This Agreement and the Exhibits annexed hereto
constitutes the entire and complete agreement between the parties hereto
relating to the subject matter hereof, supersedes and merges all prior
discussions between the parties hereto, and may not be modified or amended
orally.

 

 

[The remainder of this page intentionally
left blank]

 

 

8

 

IN WITNESS WHEREOF, the parties have hereto caused
this Agreement to be duly executed on October 1, 2009.

 

	
   

  	
  WADDELL & REED ADVISORS

  
	
   

  	
  FUNDS

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Henry J. Herrmann

  	
   

  
	
   

  	
   

  	
  Henry J. Herrmann, President

  
					

 

 

	
  ATTEST:

  
	
   

  
	
   

  
	
  By:

  	
  /s/ Mara Herrington

  	
   

  
	
   

  	
  Mara Herrington, Secretary

  
				

 

	
   

  	
  WADDELL & REED SERVICES COMPANY

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael D. Strohm

  	
   

  
	
   

  	
   

  	
  Michael D. Strohm, President

  
					

 

 

	
  ATTEST:

  
	
   

  
	
   

  
	
  By:

  	
  /s/ Wendy J. Hills

  	
   

  
	
   

  	
  Wendy J. Hills, Secretary

  
				

 

 

9

Exhibit 10.29

 

APPENDIX A

List of Funds

 

 

Waddell & Reed Advisors Accumulative Fund

Waddell & Reed Advisors Asset Strategy Fund

Waddell & Reed Advisors Bond Fund

Waddell & Reed Advisors Cash Management
Fund

Waddell & Reed Advisors Continental Income
Fund

Waddell & Reed Advisors Core Investment
Fund

Waddell & Reed Advisors Dividend
Opportunities Fund

Waddell & Reed Advisors Energy Fund

Waddell & Reed Advisors Global Bond Fund

Waddell & Reed Advisors Government
Securities Fund

Waddell & Reed Advisors High Income Fund

Waddell & Reed Advisors International
Growth Fund

Waddell & Reed Advisors Municipal Bond Fund

Waddell & Reed Advisors Municipal High
Income Fund

Waddell & Reed Advisors New Concepts Fund

Waddell & Reed Advisors Science and
Technology Fund

Waddell & Reed Advisors Small Cap Fund

Waddell & Reed Advisors Tax-Managed Equity
Fund

Waddell & Reed Advisors Value Fund

Waddell & Reed Advisors Vanguard Fund

 

 

 

EXHIBIT A

 

A.        DUTIES IN SHARE TRANSFERS AND
REGISTRATION

 

1.         WRSCO
in carrying out its duties shall follow general commercial practices and the Rules of
the Stock Transfer Association, Inc. except as they may conflict or be
inconsistent with the specific provisions of the Trust Instrument and Bylaws,
prospectus, applicable Federal and state laws and regulations and this
Agreement.

 

2.         WRSCO
shall not require that the signature of the appropriate person be guaranteed,
witnessed or verified in order to affect a redemption, transfer, exchange or
change of address except as may from time to time be directed by the Trust as
set forth in an officers’ instruction. 
In the event a signature guarantee is required by the Trust, WRSCO shall
not inquire as to the genuineness of the guarantee.

 

3.         WRSCO
shall not replace a lost, stolen or misplaced share certificate without
requiring and being furnished with an open penalty surety bond protecting the
Trust and WRSCO against loss.

 

B.         The practices, procedures and
requirements specified in A above may be modified, altered, varied or
supplemented as from time to time may be mutually agreed upon by the Trust and
WRSCO and evidenced on behalf of the Trust by an officers’ instruction.  Any such change shall not be deemed to be an
amendment to the Agreement within the meaning of Paragraph 8 of the Agreement.

 

 

11

 

EXHIBIT
B

COMPENSATION

 

Class A Shares of Energy Fund, New Concepts Fund, Small Cap Fund,
Tax-Managed Equity Fund, and Value Fund

An amount payable on the
first day of each month of $1.5042 for each Class A account of the Fund
which was in existence during any portion of the immediately preceding month.

 

Class A Shares of
Accumulative Fund, International Growth Fund, Science and Technology Fund and
Vanguard Fund

An amount payable on the
first day of each month of $1.5292 for each Class A account of the Fund
which was in existence during any portion of the immediately preceding month

 

Class A Shares of
Asset Strategy Fund, Continental Income Fund, Core Investment Fund and Dividend
Opportunities Fund

An amount payable on the
first day of each month of $1.5792 for each Class A account of the Fund
which was in existence during any portion of the immediately preceding month.

 

Class A Shares of Bond Fund, Global Bond Fund, Government
Securities Fund, High Income Fund, Municipal Bond Fund and Municipal High
Income Fund

An amount payable on the
first day of each month of $1.6958 for each Class A account of the Fund
which was in existence during any portion of the immediately preceding month.

 

Class A Shares of
Cash Management

An amount payable on the
first day of each month of $1.75 for each Class A account of the Fund
which was in existence during any portion of the immediately preceding
month.  The Fund shall also pay WRSCO a
fee of $.75 for each shareholder check it processes.

 

 

Class B Shares of Energy Fund, New Concepts Fund, Small Cap Fund,
Tax-Managed Equity Fund, and Value Fund

An amount payable on the
first day of each month of $1.5042 for each Class B account of the Fund
which was in existence during any portion of the immediately preceding month.

 

Class B Shares of
Accumulative Fund, International Growth Fund, Science and Technology Fund and
Vanguard Fund

An amount payable on the
first day of each month of $1.5292 for each Class B account of the Fund
which was in existence during any portion of the immediately preceding month.

 

Class B Shares of
Asset Strategy Fund, Continental Income Fund, Core Investment Fund and Dividend
Opportunities Fund

An amount payable on the
first day of each month of $1.5792 for each Class B account of the Fund
which was in existence during any portion of the immediately preceding month.

 

Class B Shares of
Bond Fund, Global Bond Fund, Government Securities Fund, High Income Fund,
Municipal Bond Fund and Municipal High Income Fund

 

 

12

 

An amount payable on the
first day of each month of $1.6958 for each Class B account of the Fund
which was in existence during any portion of the immediately preceding month.

 

Class B Shares of
Cash Management

An amount payable on the
first day of each month of $1.75 for each Class B account of the Fund
which was in existence during any portion of the immediately preceding month.

 

Class C Shares of Energy Fund, New Concepts Fund, Small Cap Fund,
Tax-Managed Equity Fund, and Value Fund

An amount payable on the
first day of each month of $1.5042 for each Class C account of the Fund
which was in existence during any portion of the immediately preceding month.

 

Class C Shares of
Accumulative Fund, International Growth Fund, Science and Technology Fund and
Vanguard Fund

An amount payable on the
first day of each month of $1.5292 for each Class C account of the Fund
which was in existence during any portion of the immediately preceding month

 

Class C Shares of
Asset Strategy Fund, Continental Income Fund, Core Investment Fund and Dividend
Opportunities Fund

An amount payable on the
first day of each month of $1.5792 for each Class C account of the Fund
which was in existence during any portion of the immediately preceding month.

 

Class C Shares of
Bond Fund, Global Bond Fund, Government Securities Fund, High Income Fund,
Municipal Bond Fund and Municipal High Income Fund

An amount payable on the
first day of each month of $1.6958 for each Class C account of the Fund
which was in existence during any portion of the immediately preceding month.

 

Class C Shares of
Cash Management

An amount payable on the first
day of each month of $1.75 for each Class C account of the Fund which was
in existence during any portion of the immediately preceding month.

 

Class Y Shares of Asset Strategy Fund, Accumulative Fund, Bond
Fund, Continental Income Fund, Core Investment Fund, Dividend Opportunities
Fund, Energy Fund, Global Bond Fund, Government Securities Fund, International
Growth Fund, High Income Fund,  New
Concepts Fund,  Science and Technology
Fund, Small Cap Fund, Vanguard Fund and Value Fund

An amount payable on the
first day of each month equal to 1/12 of .15 of 1% of the average daily net Class Y
assets of the Fund for the preceding month.

 

 

Volume Discount

 

The
above-referenced per account fees for Class A, Class B and Class C
shall be reduced if the total number of accounts for which WRSCO provides
shareholder services reaches the following levels:

 

 

     A
reduction of 5% of the per account fee for the number of accounts in excess of 2.5
million but less than 3.0 million; and

 

 

13

 

    A
reduction of 10% of the per account fee for the number of accounts in excess of
3.0 million.

 

When
considering the total number of accounts for the purpose of the reductions
listed above, Class A, Class B, Class C, Class E and Advisors
Class accounts in each of the Ivy Funds, Ivy Funds, Inc. and Waddell &Reed
Advisors Funds are included; however, accounts in Class I, Class R
and Class Y of each such fund and Waddell & Reed InvestEd
accounts are excluded.

 

Networking Fees

The
above-referenced per account fees shall be reduced for certain networked
accounts to $6.00 per account on an annualized basis computed and payable on
the first day of each month for each account which was in existence during any
portion of the immediately preceding month with the affected Fund’s bearing the
remainder of the costs charged by the financial services companies.  If the aggregate annual rate of the WRSCO
transfer agent fee and the costs charged by the financial services companies
exceed $18.00 per account for a Fund, the amount in excess of $18.00 will be
reimbursed to the Fund by WRSCO.

 

Omnibus and/or Recordkeeping Fees

The
Funds shall bear the costs charged by unaffiliated third parties for providing
recordkeeping and other administrative services with respect to accounts of
participants in retirement plans or other beneficial owners of Fund shares
whose interests are generally held in an omnibus account.  If the annual rate of the third-party per
account charges for a Fund exceeds $18.00 or the annual fee is based on average
net assets exceed 0.30 of 1% of the average daily net assets of a Fund, the
amount in excess of these caps will be reimbursed to the Fund by WRSCO.

 

Originally Approved on January 30,
2009

 

As Amended, Effective and
Approved on October 1, 2009

 

 

14

 

EXHIBIT
C

 

	
   

  	
   

  	
  Bond or

  	
   

  
	
  Name of Bond

  	
   

  	
  Policy No.

  	
  Insurer

  
	
  ------------

  	
   

  	
  ---------

  	
  -------

  
	
  Investment Company

  	
   

  	
  87015109B

  	
  ICI

  
	
  Blanket Bond Form

  	
   

  	
   

  	
  Mutual

  
	
   

  	
   

  	
   

  	
  Insurance

  
	
   

  	
   

  	
   

  	
  Company

  
	
  Fidelity

  	
  $30,300,000

  	
   

  	
   

  
	
  Audit Expense

  	
  50,000

  	
   

  	
   

  
	
  On Premises

  	
  30,300,000

  	
   

  	
   

  
	
  In Transit

  	
  30,300,000

  	
   

  	
   

  
	
  Forgery or Alteration

  	
  30,300,000

  	
   

  	
   

  
	
  Securities

  	
  30,300,000

  	
   

  	
   

  
	
  Counterfeit Currency

  	
  30,300,000

  	
   

  	
   

  
	
  Uncollectible Items of

  	
   

  	
   

  	
   

  
	
  Deposit

  	
  25,000

  	
   

  	
   

  
	
  Phone-Initiated Transactions

  	
  30,300,000

  	
   

  	
   

  
	
  Computer Security

  	
  30,300,000

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Directors and Officers/

  	
   

  	
  87015109D

  	
  ICI

  
	
  Errors and Omissions Liability

  	
   

  	
   

  	
  Mutual

  
	
  Insurance Form

  	
   

  	
   

  	
  Insurance

  
	
  Total Limit

  	
  $30,000,000

  	
   

  	
  Company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Blanket Undertaking Lost Instrument

  	
   

  	
  42SUN339806

  	
  Hartford

  
	
  Waiver of Probate

  	
   

  	
   

  	
  Casualty

  
	
   

  	
   

  	
   

  	
  Insurance

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Effective May 31, 2009

  	
   

  	
   

  	
   

  

 

 

15

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