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Chubb Group of Insurance Companies
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DECLARATIONS
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FINANCIAL INSTITUTION INVESTMENT
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15 Mountain View Road, Warren, New Jersey 07059
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COMPANY ASSET PROTECTION BOND
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NAME OF ASSURED (including its
Subsidiaries
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Bond Number: 81948072
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SPDR(R) SERIES TRUST AND SPDR(R) INDEX SHARES FUNDS
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FEDERAL INSURANCE COMPANY
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ONE LINCOLN STREET
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Incorporated under the laws of Indiana
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BOSTON, MA 02110
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a stock insurance company herein called the COMPANY
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Capital Center, 251 North Illinois, Suite 1100
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Indianapolis, IN 46204-1927
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ITEM 1.
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BOND PERIOD:
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from
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12:01 a.m. on
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July 1, 2008
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to
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12:01 a.m. on
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July 1, 2009
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ITEM 2.
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LIMITS OF LIABILITYDEDUCTIBLE AMOUNTS:
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If Not Covered is inserted below opposite any specified INSURING CLAUSE, such INSURING CLAUSE
and any other reference shall be deemed to be deleted.
There shall be no deductible applicable to any
loss under INSURING CLAUSE 1. sustained by any Investment Company.
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DEDUCTIBLE
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INSURING CLAUSE
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LIMIT OF LIABILITY
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AMOUNT
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1. Employee
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$
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5,000,000
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$
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25,000
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2. On Premises
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$
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5,000,000
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$
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25,000
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3. In Transit
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$
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5,000,000
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$
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25,000
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4. Forgery or Alteration
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$
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5,000,000
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$
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25,000
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5. Extended Forgery
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$
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5,000,000
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$
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25,000
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6. Counterfeit Money
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$
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5,000,000
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$
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25,000
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7. Threats to Person
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$
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5,000,000
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$
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0
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8. Computer System
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$
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5,000,000
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$
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25,000
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9. Voice Initiated Funds Transfer Instruction
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$
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5,000,000
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$
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25,000
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10. Uncollectible Items of Deposit
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$
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5,000,000
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$
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25,000
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11. Audit Expense
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$
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250,000
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$
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25,000
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ITEM 3.
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THE LIABILITY OF THE COMPANY IS ALSO SUBJECT TO THE TERMS OF THE FOLLOWING
ENDORSEMENTS EXECUTED SIMULTANEOUSLY HEREWITH:
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1 4
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IN WITNESS WHEREOF, THE COMPANY
has caused this Bond to be signed by its authorized officers, but it shall not be
valid unless also signed by an authorized representative of the Company.
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Secretary
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President
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Countersigned by
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Authorized Representative
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ICAP Bond (5-98) Federal
Form 17-02-1421 (Ed. 5-98) Page 1 of 1
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The COMPANY, in consideration of payment of the required premium, and in reliance
on the APPLICATION and all other statements made and information furnished to the
COMPANY by the ASSURED, and subject to the DECLARATIONS made a part of this
Bond and to all other terms and conditions of this Bond, agrees to pay the ASSURED
for:
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Insuring Clauses
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Employee
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1.
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Loss resulting directly from
Larceny
or
Embezzlement
committed by any
Employee
, alone or in collusion with others.
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On Premises
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2.
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Loss of
Property
resulting directly from robbery, burglary, false pretenses,
common law or statutory larceny, misplacement, mysterious unexplainable
disappearance, damage, destruction or removal, from the possession, custody or
control of the ASSURED, while such
Property
is lodged or deposited at premises
located anywhere.
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In Transit
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3.
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Loss of
Property
resulting directly from common law or statutory larceny,
misplacement, mysterious unexplainable disappearance, damage or destruction,
while the
Property
is in transit anywhere:
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a.
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in an armored motor vehicle, including loading and unloading thereof,
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b.
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in the custody of a natural person acting as a messenger of the ASSURED,
or
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c.
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in the custody of a
Transportation Company
and being transported in a
conveyance other than an armored motor vehicle provided, however, that
covered
Property
transported in such manner is limited to the following:
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(1) written records,
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(2) securities issued in registered form, which are not endorsed or are
restrictively endorsed, or
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(3) negotiable instruments not payable to bearer, which are not endorsed
or are restrictively endorsed.
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Coverage under this INSURING CLAUSE begins immediately on the receipt of
such
Property
by the natural person or
Transportation Company
and ends
immediately on delivery to the premises of the addressee or to any representative
of the addressee located anywhere.
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ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 1 of 19
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Insuring Clauses
(continued)
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Forgery Or Alteration
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4.
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Loss resulting directly from:
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a.
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Forgery
on, or fraudulent material alteration of, any bills of exchange,
checks, drafts, acceptances, certificates of deposits, promissory notes, due
bills, money orders, orders upon public treasuries, letters of credit, other
written promises, orders or directions to pay sums certain in money, or
receipts for the withdrawal of
Property
, or
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b.
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transferring, paying or delivering any funds or other
Property
, or establishing
any credit or giving any value in reliance on any written instructions, advices
or applications directed to the ASSURED authorizing or acknowledging the
transfer, payment, delivery or receipt of funds or other
Property
, which
instructions, advices or applications fraudulently purport to bear the
handwritten signature of any customer of the ASSURED, or shareholder or
subscriber to shares of an
Investment Company
, or of any financial
institution or
Employee
but which instructions, advices or applications either
bear a
Forgery
or have been fraudulently materially altered without the
knowledge and consent of such customer, shareholder, subscriber, financial
institution or
Employee
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excluding, however, under this INSURING CLAUSE any loss covered under
INSURING CLAUSE 5. of this Bond, whether or not coverage for INSURING
CLAUSE 5. is provided for in the DECLARATIONS of this Bond.
For the purpose of this INSURING CLAUSE, a mechanically reproduced facsimile
signature is treated the same as a handwritten signature.
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Extended Forgery
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5.
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Loss resulting directly from the ASSURED having, in good faith, and in the
ordinary course of business, for its own account or the account of others in any
capacity:
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a.
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acquired, accepted or received, accepted or received, sold or delivered, or
given value, extended credit or assumed liability, in reliance on any original
Securities, documents or other written instruments
which prove to:
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(1) bear a
Forgery
or a fraudulently material alteration,
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(2) have been lost or stolen, or
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(3) be
Counterfeit
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b.
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guaranteed in writing or witnessed any signatures on any transfer,
assignment, bill of sale, power of attorney, guarantee, endorsement or other
obligation upon or in connection with any
Securities, documents or other
written instruments
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Actual physical possession, and continued actual physical possession if taken as
collateral, of such
Securities, documents or other written instruments
by an
Employee, Custodian
, or a Federal or State chartered deposit institution of the
ASSURED is a condition precedent to the ASSURED having relied on such items.
Release or return of such collateral is an acknowledgment by the ASSURED that it
no longer relies on such collateral.
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ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 2 of 19
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Insuring Clauses
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Extended Forgery
(continued)
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For the purpose of this INSURING CLAUSE, a mechanically reproduced facsimile
signature is treated the same as a handwritten signature.
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Counterfeit Money
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6.
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Loss resulting directly from the receipt by the ASSURED in good faith of any
Counterfeit
money.
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Threats To Person
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7.
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Loss resulting directly from surrender of
Property
away from an office of the
ASSURED as a result of a threat communicated to the ASSURED to do bodily
harm to an
Employee
as defined in Section 1.e. (1), (2) and (5), a
Relative
or
invitee of such
Employee
, or a resident of the household of such
Employee
, who
is, or allegedly is, being held captive provided, however, that prior to the surrender
of such
Property
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a.
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the
Employee
who receives the threat has made a reasonable effort to
notify an officer of the ASSURED who is not involved in such threat, and
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b.
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the ASSURED has made a reasonable effort to notify the Federal Bureau of
Investigation and local law enforcement authorities concerning such threat.
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It is agreed that for purposes of this INSURING CLAUSE, any
Employee
of the
ASSURED, as set forth in the preceding paragraph, shall be deemed to be an
ASSURED hereunder, but only with respect to the surrender of money, securities
and other tangible personal property in which such
Employee
has a legal or
equitable interest.
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Computer System
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8.
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Loss resulting directly from fraudulent:
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a.
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entries of data into, or
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b.
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changes of data elements or programs within,
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a
Computer System
, provided the fraudulent entry or change causes:
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(1) funds or other property to be transferred, paid or delivered,
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(2) an account of the ASSURED or of its customer to be added, deleted,
debited or credited, or
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(3) an unauthorized account or a fictitious account to be debited or
credited.
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ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 3 of 19
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Insuring Clauses
(continued)
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Voice Initiated Funds
Transfer Instruction
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9.
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Loss resulting directly from
Voice Initiated Funds Transfer Instruction
directed
to the ASSURED authorizing the transfer of dividends or redemption proceeds of
Investment Company
shares from a
Customers
account, provided such
Voice
Initiated Funds Transfer Instruction
was:
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a.
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received at the ASSUREDS offices by those
Employees
of the ASSURED
specifically authorized to receive the
Voice Initiated Funds Transfer
Instruction
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b.
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made by a person purporting to be a
Customer
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c.
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made by said person for the purpose of causing the ASSURED or
Customer
to sustain a loss or making an improper personal financial gain for such
person or any other person.
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In order for coverage to apply under this INSURING CLAUSE, all
Voice Initiated
Funds Transfer Instructions
must be received and processed in accordance with
the Designated Procedures outlined in the APPLICATION furnished to the
COMPANY.
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Uncollectible Items
of Deposit
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10.
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Loss resulting directly from the ASSURED having credited an account of a
customer, shareholder or subscriber on the faith of any
Items of Deposit
which
prove to be uncollectible, provided that the crediting of such account causes:
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a.
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redemptions or withdrawals to be permitted,
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b.
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shares to be issued, or
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c.
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dividends to be paid,
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from an account of an
Investment Company
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In order for coverage to apply under this INSURING CLAUSE, the ASSURED
must hold
Items of Deposit
for the minimum number of days stated in the
APPLICATION before permitting any redemptions or withdrawals, issuing any
shares or paying any dividends with respect to such
Items of Deposit
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Items of Deposit
shall not be deemed uncollectible until the ASSUREDS
standard collection procedures have failed.
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Audit Expense
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11.
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Expense incurred by the ASSURED for that part of the cost of audits or
examinations required by any governmental regulatory authority or self-regulatory
organization to be conducted by such authority, organization or their appointee by
reason of the discovery of loss sustained by the ASSURED and covered by this
Bond.
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ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 4 of 19
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General Agreements
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Additional Companies
Included As Assured
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A.
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If more than one corporation, or
Investment Company
, or any combination of
them is included as the ASSURED herein:
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(1)
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The total liability of the COMPANY under this Bond for loss or losses
sustained by any one or more or all of them shall not exceed the limit for
which the COMPANY would be liable under this Bond if all such loss were
sustained by any one of them.
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(2)
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Only the first named ASSURED shall be deemed to be the sole agent of the
others for all purposes under this Bond, including but not limited to the giving
or receiving of any notice or proof required to be given and for the purpose of
effecting or accepting any amendments to or termination of this Bond. The
COMPANY shall furnish each
Investment Company
with a copy of the
Bond and with any amendment thereto, together with a copy of each formal
filing of claim by any other named ASSURED and notification of the terms of
the settlement of each such claim prior to the execution of such settlement.
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(3)
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The COMPANY shall not be responsible for the proper application of any
payment made hereunder to the first named ASSURED.
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(4)
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Knowledge possessed or discovery made by any partner, director, trustee,
officer or supervisory employee of any ASSURED shall constitute knowledge
or discovery by all the ASSUREDS for the purposes of this Bond.
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(5)
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If the first named ASSURED ceases for any reason to be covered under this
Bond, then the ASSURED next named on the APPLICATION shall thereafter
be considered as the first named ASSURED for the purposes of this Bond.
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Representation Made By
Assured
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B.
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The ASSURED represents that all information it has furnished in the
APPLICATION for this Bond or otherwise is complete, true and correct. Such
APPLICATION and other information constitute part of this Bond.
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The ASSURED must promptly notify the COMPANY of any change in any fact or
circumstance which materially affects the risk assumed by the COMPANY under
this Bond.
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Any intentional misrepresentation, omission, concealment or incorrect statement of
a material fact, in the APPLICATION or otherwise, shall be grounds for recision of
this Bond.
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ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 5 of 19
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General Agreements
(continued)
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Additional Offices Or
Employees Consolidation,
Merger Or Purchase Or
Acquisition Of Assets Or
Liabilities Notice To
Company
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C.
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If the ASSURED, other than an
Investment Company
, while this Bond is in force,
merges or consolidates with, or purchases or acquires assets or liabilities of
another institution, the ASSURED shall not have the coverage afforded under this
Bond for loss which has:
(1) occurred or will occur on premises, or
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(2)
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been caused or will be caused by an employee, or
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(3)
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arisen or will arise out of the assets or liabilities,
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of such institution, unless the ASSURED:
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a.
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gives the COMPANY written notice of the proposed consolidation, merger or
purchase or acquisition of assets or liabilities prior to the proposed effective
date of such action, and
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b.
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obtains the written consent of the COMPANY to extend some or all of the
coverage provided by this Bond to such additional exposure, and
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c.
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on obtaining such consent, pays to the COMPANY an additional premium.
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Change Of Control -
Notice To Company
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D.
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When the ASSURED learns of a change in control (other than in an
Investment
Company
), as set forth in Section 2(a) (9) of the Investment Company Act of
1940, the ASSURED shall within sixty (60) days give written notice to the
COMPANY setting forth:
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(1)
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the names of the transferors and transferees (or the names of the beneficial
owners if the voting securities are registered in another name),
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(2)
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the total number of voting securities owned by the transferors and the
transferees (or the beneficial owners), both immediately before and after the
transfer, and
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(3)
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the total number of outstanding voting securities.
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Failure to give the required notice shall result in termination of coverage for any
loss involving a transferee, to be effective on the date of such change in control.
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Court Costs And
Attorneys Fees
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E.
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The COMPANY will indemnify the ASSURED for court costs and reasonable
attorneys fees incurred and paid by the ASSURED in defense, whether or not
successful, whether or not fully litigated on the merits and whether or not settled,
of any claim, suit or legal proceeding with respect to which the ASSURED would
be entitled to recovery under this Bond. However, with respect to INSURING
CLAUSE 1., this Section shall only apply in the event that:
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(1)
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an
Employee
admits to being guilty of
Larceny or Embezzlement
,
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(2)
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an
Employee
is adjudicated to be guilty of
Larceny or Embezzlement
, or
|
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 6 of 19
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General Agreements
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Court Costs And
Attorneys Fees
(continued)
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(3)
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in the absence of 1 or 2 above, an arbitration panel agrees, after a review of
an agreed statement of facts between the COMPANY and the ASSURED,
that an
Employee
would be found guilty of
Larceny or Embezzlement
if
such
Employee
were prosecuted.
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The ASSURED shall promptly give notice to the COMPANY of any such suit or
legal proceeding and at the request of the COMPANY shall furnish copies of all
pleadings and pertinent papers to the COMPANY. The COMPANY may, at its
sole option, elect to conduct the defense of all or part of such legal proceeding.
The defense by the COMPANY shall be in the name of the ASSURED through
attorneys selected by the COMPANY. The ASSURED shall provide all reasonable
information and assistance as required by the COMPANY for such defense.
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If the COMPANY declines to defend the ASSURED, no settlement without the
prior written consent of the COMPANY nor judgment against the ASSURED shall
determine the existence, extent or amount of coverage under this Bond.
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If the amount demanded in any such suit or legal proceeding is within the
DEDUCTIBLE AMOUNT, if any, the COMPANY shall have no liability for court
costs and attorneys fees incurred in defending all or part of such suit or legal
proceeding.
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If the amount demanded in any such suit or legal proceeding is in excess of the
LIMIT OF LIABILITY stated in ITEM 2. of the DECLARATIONS for the applicable
INSURING CLAUSE, the COMPANYS liability for court costs and attorneys fees
incurred in defending all or part of such suit or legal proceedings is limited to the
proportion of such court costs and attorneys fees incurred that the LIMIT OF
LIABILITY stated in ITEM 2. of the DECLARATIONS for the applicable INSURING
CLAUSE bears to the total of the amount demanded in such suit or legal
proceeding.
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If the amount demanded is any such suit or legal proceeding is in excess of the
DEDUCTIBLE AMOUNT, if any, but within the LIMIT OF LIABILITY stated in ITEM
2. of the DECLARATIONS for the applicable INSURING CLAUSE, the
COMPANYS liability for court costs and attorneys fees incurred in defending all or
part of such suit or legal proceedings shall be limited to the proportion of such
court costs or attorneys fees that the amount demanded that would be payable
under this Bond after application of the DEDUCTIBLE AMOUNT, bears to the total
amount demanded.
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Amounts paid by the COMPANY for court costs and attorneys fees shall be in
addition to the LIMIT OF LIABILITY stated in ITEM 2. of the DECLARATIONS.
|
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 7 of 19
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Conditions And
Limitations
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Definitions
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1.
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As used in this Bond:
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a.
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Computer System
means a computer and all input, output, processing,
storage, off-line media libraries, and communication facilities which are
connected to the computer and which are under the control and supervision
of the operating system(s) or application(s) software used by the ASSURED.
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b.
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Counterfeit
means an imitation of an actual valid original which is intended
to deceive and be taken as the original.
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c.
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Custodian
means the institution designated by an
Investment Company
to
maintain possession and control of its assets.
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d.
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Customer
means an individual, corporate, partnership, trust customer,
shareholder or subscriber of an
Investment Company
which has a written
agreement with the ASSURED for
Voice Initiated Funds Transfer
Instruction
.
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e.
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Employee
means:
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(1) an officer of the ASSURED,
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(2) a natural person while in the regular service of the ASSURED at any of
the ASSUREDS premises and compensated directly by the ASSURED
through its payroll system and subject to the United States Internal
Revenue Service Form W-2 or equivalent income reporting plans of
other countries, and whom the ASSURED has the right to control and
direct both as to the result to be accomplished and details and means
by which such result is accomplished in the performance of such
service,
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(3) a guest student pursuing studies or performing duties in any of the
ASSUREDS premises,
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(4) an attorney retained by the ASSURED and an employee of such
attorney while either is performing legal services for the ASSURED,
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(5) a natural person provided by an employment contractor to perform
employee duties for the ASSURED under the ASSUREDS supervision
at any of the ASSUREDS premises,
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(6) an employee of an institution merged or consolidated with the
ASSURED prior to the effective date of this Bond,
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(7) a director or trustee of the ASSURED, but only while performing acts
within the scope of the customary and usual duties of any officer or
other employee of the ASSURED or while acting as a member of any
committee duly elected or appointed to examine or audit or have
custody of or access to
Property
of the ASSURED, or
|
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 8 of 19
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|
Conditions And
Limitations
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Definitions
(continued)
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(8
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)
|
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each natural person, partnership or corporation authorized by written
agreement with the ASSURED to perform services as electronic data
processor of checks or other accounting records related to such checks but
only while such person, partnership or corporation is actually performing
such services and not:
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a.
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creating, preparing, modifying or maintaining the ASSUREDS
computer software or programs, or
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b.
|
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acting as transfer agent or in any other agency capacity in issuing
checks, drafts or securities for the ASSURED,
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(9
|
)
|
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any partner, officer or employee of an investment advisor, an underwriter
(distributor), a transfer agent or shareholder accounting recordkeeper, or an
administrator, for an
Investment Company
while performing acts coming
within the scope of the customary and usual duties of an officer or employee
of an
Investment Company
or acting as a member of any committee duly
elected or appointed to examine, audit or have custody of or access to
Property
of
an Investment Company
.
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The term
Employee
shall not include any partner, officer or employee of a
transfer agent, shareholder accounting recordkeeper or administrator:
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a.
|
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which is not an affiliated person (as defined in Section 2(a) of the
Investment Company Act of 1940) of an
Investment Company
or of
the investment advisor or underwriter (distributor) of such
Investment
Company
, or
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b.
|
|
which is a bank (as defined in Section 2(a) of the Investment
Company Act of 1940).
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This Bond does not afford coverage in favor of the employers of
persons as set forth in e. (4), (5) and (8) above, and upon payment to
the ASSURED by the COMPANY resulting directly from
Larceny or
Embezzlement
committed by any of the partners, officers or
employees of such employers, whether acting alone or in collusion with
others, an assignment of such of the ASSUREDS rights and causes of
action as it may have against such employers by reason of such acts
so committed shall, to the extent of such payment, be given by the
ASSURED to the COMPANY, and the ASSURED shall execute all
papers necessary to secure to the COMPANY the rights provided for
herein.
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Each employer of persons as set forth in e.(4), (5) and (8) above and the
partners, officers and other employees of such employers shall collectively
be deemed to be one person for all the purposes of this Bond; excepting,
however, the fifth paragraph of Section 13.
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Independent contractors not specified in e.(4), (5) or (8) above,
intermediaries, agents, brokers or other representatives of the same general
character shall not be considered
Employees
.
|
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 9 of 19
|
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|
|
Conditions And
Limitations
|
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|
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Definitions
(continued)
|
|
f.
|
|
Forgery
means the signing of the name of another natural person with the
intent to deceive but does not mean a signature which consists in whole or in
part of ones own name, with or without authority, in any capacity for any
purpose.
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g.
|
|
Investment Company
means any investment company registered under the
Investment Company Act of 1940 and listed under the NAME OF ASSURED
on the DECLARATIONS.
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h.
|
|
Items of Deposit
means one or more checks or drafts drawn upon a
financial institution in the United States of America.
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i.
|
|
Larceny or Embezzlement
means larceny or embezzlement as defined in
Section 37 of the Investment Company Act of 1940.
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j.
|
|
Property
means money, revenue and other stamps; securities; including any
note, stock, treasury stock, bond, debenture, evidence of indebtedness,
certificate of deposit, certificate of interest or participation in any profit-
sharing agreement, collateral trust certificate, preorganization certificate or
subscription, transferable share, investment contract, voting trust certificate,
certificate of deposit for a security, fractional undivided interest in oil, gas, or
other mineral rights, any interest or instruments commonly known as a
security under the Investment Company Act of 1940, any other certificate of
interest or participation in, temporary or interim certificate for, receipt for,
guarantee of, or warrant or right to subscribe to or purchase any of the
foregoing; bills of exchange; acceptances; checks; withdrawal orders; money
orders; travelers letters of credit; bills of lading; abstracts of title; insurance
policies, deeds, mortgages on real estate and/or upon chattels and interests
therein; assignments of such policies, deeds or mortgages; other valuable
papers, including books of accounts and other records used by the
ASSURED in the conduct of its business (but excluding all electronic data
processing records); and, all other instruments similar to or in the nature of
the foregoing in which the ASSURED acquired an interest at the time of the
ASSUREDS consolidation or merger with, or purchase of the principal
assets of, a predecessor or which are held by the ASSURED for any
purpose or in any capacity and whether so held gratuitously or not and
whether or not the ASSURED is liable therefor.
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k.
|
|
Relative
means the spouse of an
Employee
or partner of the ASSURED
and any unmarried child supported wholly by, or living in the home of, such
Employee
or partner and being related to them by blood, marriage or legal
guardianship.
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l.
|
|
Securities, documents or other written instruments
means original
(including original counterparts) negotiable or non-negotiable instruments, or
assignments thereof, which in and of themselves represent an equitable
interest, ownership, or debt and which are in the ordinary course of business
transferable by delivery of such instruments with any necessary
endorsements or assignments.
|
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 10 of 19
|
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|
|
Conditions And
Limitations
|
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|
|
|
|
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|
|
Definitions
(continued)
|
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|
|
m.
|
|
Subsidiary
means any organization that, at the inception date of this Bond,
is named in the APPLICATION or is created during the BOND PERIOD and
of which more than fifty percent (50%) of the outstanding securities or voting
rights representing the present right to vote for election of directors is owned
or controlled by the ASSURED either directly or through one or more of its
subsidiaries.
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n.
|
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Transportation Company
means any organization which provides its own
or its leased vehicles for transportation or which provides freight forwarding
or air express services.
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o.
|
|
Voice Initiated Election
means any election concerning dividend options
available to
Investment Company
shareholders or subscribers which is
requested by voice over the telephone.
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p.
|
|
Voice Initiated Redemption
means any redemption of shares issued by an
Investment Company
which is requested by voice over the telephone.
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q.
|
|
Voice Initiated Funds Transfer Instruction
means any
Voice Initiated
Redemption
or
Voice Initiated Election
.
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For the purposes of these definitions, the singular includes the plural and the
plural includes the singular, unless otherwise indicated.
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|
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General Exclusions -
Applicable to All
Insuring
Clauses
|
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2.
|
|
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This bond does not directly or indirectly cover:
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a.
|
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loss not reported to the COMPANY in
writing within sixty (60) days after termination of this Bond as an
entirety;
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|
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b.
|
|
loss due to riot or civil commotion outside the United States of America and
Canada, or any loss due to military, naval or usurped power, war or
insurrection. This Section 2.b., however, shall not apply to loss which occurs
in transit in the circumstances recited in INSURING CLAUSE 3., provided
that when such transit was initiated there was no knowledge on the part of
any person acting for the ASSURED of such riot, civil commotion, military,
naval or usurped power, war or insurrection;
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c.
|
|
loss resulting from the effects of nuclear fission or fusion or radioactivity;
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d.
|
|
loss of potential income including, but not limited to, interest and dividends
not realized by the ASSURED or by any customer of the ASSURED;
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e.
|
|
damages of any type for which the ASSURED is legally liable, except
compensatory damages, but not multiples thereof, arising from a loss
covered under this Bond;
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f.
|
|
costs, fees and expenses incurred by the ASSURED in establishing the
existence of or amount of loss under this Bond, except to the extent covered
under INSURING CLAUSE 11.;
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g.
|
|
loss resulting from indirect or consequential loss of any nature;
|
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 11 of 19
|
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|
|
Conditions And
Limitations
|
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|
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General Exclusions -
Applicable to All Insuring
Clauses
|
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|
|
h.
|
|
loss resulting from dishonest acts by any member of the Board of Directors
or Board of Trustees of the ASSURED who is not an
Employee
, acting
alone or in collusion with others;
|
(continued)
|
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i.
|
|
loss, or that part of any loss, resulting solely from any violation by the
ASSURED or by any
Employee
:
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(1)
|
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of any law regulating:
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a. the issuance, purchase or sale of securities,
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b. securities transactions on security or commodity exchanges or
the over the counter market,
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c. investment companies,
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d. investment advisors, or
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(2)
|
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of any rule or regulation made pursuant to any such law; or
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j.
|
|
loss of confidential information, material or data;
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k.
|
|
loss resulting from voice requests or instructions received over the
telephone, provided however, this Section 2.k. shall not apply to INSURING
CLAUSE 7. or 9.
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|
|
Specific Exclusions -
Applicable To All Insuring
|
|
3.
|
|
This Bond does not directly or indirectly cover:
|
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|
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Clauses Except Insuring
Clause 1.
|
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|
|
a.
|
|
loss caused by an
Employee
, provided, however, this Section 3.a. shall not
apply to loss covered under INSURING CLAUSE 2. or 3. which results
directly from misplacement, mysterious unexplainable disappearance, or damage or destruction of
Property
;
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b.
|
|
loss through the surrender of property away from premises of the ASSURED
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as a result of a threat:
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(1) to do bodily harm to any natural person, except loss of
Property
in
transit in the custody of any person acting as messenger of the
ASSURED, provided that when such transit was initiated there was no
knowledge by the ASSURED of any such threat, and provided further
that this Section 3.b. shall not apply to INSURING CLAUSE 7., or
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|
|
(2) to do damage to the premises or
Property
of the ASSURED;
|
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c.
|
|
loss resulting from payments made or withdrawals from any account
involving erroneous credits to such account;
|
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|
d.
|
|
loss involving
Items of Deposit
which are not finally paid for any reason
provided however, that this Section 3.d. shall not apply to INSURING
CLAUSE 10.;
|
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e.
|
|
loss of property while in the mail;
|
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 12 of 19
Conditions And
Limitations
|
|
|
|
|
Specific Exclusions-
Applicable To All Insuring
Clauses Except Insuring
Clause 1.
(continued)
|
|
f.
|
|
loss resulting from the failure for any reason of a financial or depository
institution, its receiver or other liquidator to pay or deliver funds or other
Property
to the ASSURED provided further that this Section 3.f. shall not
apply to loss of
Property
resulting directly from robbery, burglary,
misplacement, mysterious unexplainable disappearance,
damage, destruction or removal from the possession, custody or control of the ASSURED.
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g.
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loss of
Property
while in the custody of a
Transportation Company
,
provided however, that this Section 3.g. shall not apply to INSURING
CLAUSE 3.;
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h.
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loss resulting from entries or changes made by a natural person with
authorized access to a
Computer System
who acts in good faith on
instructions, unless such instructions are given to that person by a software
contractor or its partner, officer, or employee authorized by the ASSURED to
design, develop, prepare, supply, service, write or implement programs for
the ASSUREDs
Computer System
; or
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i.
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loss resulting directly or indirectly from the input of data into a
Computer
System
terminal, either on the premises of the customer of the ASSURED
or under the control of such a customer, by a customer or other person who
had authorized access to the customers authentication mechanism.
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Specific Exclusions-
Applicable To All Insuring
Clauses Except Insuring
Clauses 1., 4., And 5.
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4.
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This bond does not directly or indirectly cover:
a. loss resulting from the complete or partial non-payment of or default on any
loan whether such loan was procured in good faith or through trick, artifice,
fraud or false pretenses; provided, however, this Section 4.a. shall not apply
to INSURING CLAUSE 8.;
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b. loss resulting from forgery or any alteration;
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c. loss involving a counterfeit provided, however, this Section 4.c. shall not
apply to INSURING CLAUSE 5. or 6.
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Limit Of Liability/Non-
Reduction And Non-
Accumulation Of Liability
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5.
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At all times prior to termination of this Bond, this Bond shall continue in force for
the limit stated in the applicable sections of ITEM 2. of the DECLARATIONS,
notwithstanding any previous loss for which the COMPANY may have paid or be
liable to pay under this Bond provided, however, that the liability of the COMPANY
under this Bond with respect to all loss resulting from:
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a. any one act of burglary, robbery or hold-up, or attempt thereat, in which no
Employee
is concerned or implicated, or
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b. any one unintentional or negligent act on the part of any one person
resulting in damage to or destruction or misplacement of
Property
, or
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c. all acts, other than those specified in a. above, of any one person, or
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ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 13 of 19
Conditions And
Limitations
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Limit Of Liability/Non-
Reduction And Non-
Accumulation Of Liability
(continued)
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d. any one casualty or event other than those
specified in a., b., or c. above,
shall be deemed to be one loss and shall be limited to the applicable LIMIT OF
LIABILITY stated in ITEM 2. of the DECLARATIONS of this Bond irrespective of
the total amount of such loss or losses and shall not be cumulative in amounts
from year to year or from period to period.
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All acts, as specified in c. above, of any one person which
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i. directly or indirectly aid in any way wrongful
acts of any other person or
persons, or
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ii. permit the continuation of wrongful acts of any
other person or persons
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whether such acts are committed with or without the knowledge of the wrongful
acts of the person so aided, and whether such acts are committed with or without
the intent to aid such other person, shall be deemed to be one loss with the
wrongful acts of all persons so aided.
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Discovery
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6.
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This Bond applies only to loss first discovered by an officer of the ASSURED
during the BOND PERIOD. Discovery occurs at the earlier of an officer of the
ASSURED being aware of:
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a. facts which may subsequently result in a loss of
a type covered by this Bond, or
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b. an actual or potential claim in which it is
alleged that the ASSURED is liable
to a third party,
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regardless of when the act or acts causing or contributing to such loss occurred,
even though the amount of loss does not exceed the applicable DEDUCTIBLE
AMOUNT, or the exact amount or details of loss may not then be known.
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Notice To Company
Proof Legal Proceedings
Against Company
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7.
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a. The ASSURED shall give the COMPANY notice thereof at the earliest
practicable moment, not to exceed sixty (60) days after discovery of loss, in
an amount that is in excess of 50% of the
applicable DEDUCTIBLE
AMOUNT, as stated in ITEM 2. of the DECLARATIONS.
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b. The ASSURED shall furnish to the COMPANY proof of
loss, duly sworn to,
with full particulars within six (6) months after
such discovery.
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c. Securities listed in a proof of loss shall be
identified by certificate or bond numbers, if issued with them.
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d. Legal proceedings for the recovery of any loss
under this Bond shall not be brought prior to the expiration of sixty (60)
days after the proof of loss is filed
with the COMPANY or after the expiration of
twenty-four (24) months from
the discovery of such loss.
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e. This Bond affords coverage only in favor of the
ASSURED. No claim, suit,
action or legal proceedings shall be brought
under this Bond by anyone
other than the ASSURED.
|
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98)Page 14 of 19
Conditions And
Limitations
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Notice To Company -
Proof - Legal Proceedings
Against Company
(continued)
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f. Proof of loss involving
Voice Initiated Funds Transfer Instruction
shall
include electronic recordings of such instructions.
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Deductible Amount
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8.
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The COMPANY shall not be liable under any INSURING CLAUSES of this Bond
on account of loss unless the amount of such loss, after deducting the net amount
of all reimbursement and/or recovery obtained or made by the ASSURED, other
than from any Bond or policy of insurance issued by an insurance company and
covering such loss, or by the COMPANY on account thereof prior to payment by
the COMPANY of such loss, shall exceed the DEDUCTIBLE AMOUNT set forth in
ITEM 3. of the DECLARATIONS, and then for such excess only, but in no event
for more than the applicable LIMITS OF LIABILITY stated in ITEM 2. of the
DECLARATIONS.
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There shall be no deductible applicable to any loss under INSURING CLAUSE 1.
sustained by any
Investment Company
.
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Valuation
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9.
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BOOKS OF ACCOUNT OR OTHER RECORDS
The value of any loss of
Property
consisting of books of account or other records
used by the ASSURED in the conduct of its business shall be the amount paid by
the ASSURED for blank books, blank pages, or other materials which replace the
lost books of account or other records, plus the cost of labor paid by the
ASSURED for the actual transcription or copying of data to reproduce such books
of account or other records.
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The value of any loss of
Property
other than books of account or other records
used by the ASSURED in the conduct of its business, for which a claim is made
shall be determined by the average market value of such
Property
on the
business day immediately preceding discovery of such loss provided, however,
that the value of any
Property
replaced by the ASSURED with the consent of the
COMPANY and prior to the settlement of any claim for such
Property
shall be the
actual market value at the time of replacement.
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In the case of a loss of interim certificates, warrants, rights or other
securities, the
production of which is necessary to the exercise of subscription, conversion,
redemption or deposit privileges, the value of them shall be the market value of
such privileges immediately preceding their expiration if said loss is not
discovered until after their expiration. If no market price is quoted for such
Property
or
for such privileges, the value shall be fixed by agreement between the parties.
OTHER PROPERTY
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The value of any loss of
Property
, other than as stated above, shall be the
actual
cash value or the cost of repairing or replacing such
Property
with
Property
of
like quality and value, whichever is less.
|
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 15 of 19
Conditions And
Limitations
(continued)
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Securities Settlement
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10.
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In the event of a loss of securities covered under this Bond, the COMPANY may,
at its sole discretion, purchase replacement securities, tender the value of the
securities in money, or issue its indemnity to effect replacement securities.
The indemnity required from the ASSURED under the terms of this Section
against all loss, cost or expense arising from the replacement of securities by the
COMPANYS indemnity shall be:
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a. for securities having a value less than or equal to the
applicable DEDUCTIBLE AMOUNT one hundred (100%) percent;
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b. for securities having a value in excess of the
DEDUCTIBLE AMOUNT but
within the applicable LIMIT OF LIABILITY the
percentage that the
DEDUCTIBLE AMOUNT bears to the value of the securities;
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c. for securities having a value greater than the
applicable LIMIT OF LIABILITY
- the percentage that the DEDUCTIBLE AMOUNT and portion
in excess of
the applicable LIMIT OF LIABILITY bears to the value of
the securities.
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The value referred to in Section 10.a., b., and c. is the value in accordance with
Section 9, VALUATION, regardless of the value of such securities at the time the
loss under the COMPANYS indemnity is sustained.
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The COMPANY is not required to issue its indemnity for any portion of a loss of
securities which is not covered by this Bond; however, the COMPANY may do so
as a courtesy to the ASSURED and at its sole discretion.
The ASSURED shall pay the proportion of the Companys premium charge for the
Companys indemnity as set forth in Section 10.a., b., and c. No portion of the
LIMIT OF LIABILITY shall be used as payment of premium for any indemnity
purchased by the ASSURED to obtain replacement securities.
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Subrogation Assignment -
Recovery
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11.
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In the event of a payment under this Bond, the COMPANY shall be subrogated to
all of the ASSUREDS rights of recovery against any person or entity to the extent
of such payment. On request, the ASSURED shall deliver to the COMPANY an
assignment of the ASSUREDS rights, title and interest and causes of action
against any person or entity to the extent of such payment.
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Recoveries, whether effected by the COMPANY or by the ASSURED, shall be
applied net of the expense of such recovery in the following order:
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a. first, to the satisfaction of the ASSUREDS loss which
would otherwise have been paid but for the fact that it is in excess of the
applicable LIMIT OF LIABILITY,
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b. second, to the COMPANY in satisfaction of amounts paid
in settlement of the ASSUREDS claim,
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c. third, to the ASSURED in satisfaction of the applicable
DEDUCTIBLE AMOUNT, and
|
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 16 of 19
Conditions And
Limitations
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Subrogation -Assignment -
Recovery
(continued)
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d. fourth, to the ASSURED in satisfaction of any
loss suffered by the ASSURED which was not covered under this Bond.
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Recovery from reinsurance or indemnity of the COMPANY shall not be deemed a
recovery under this section.
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Cooperation Of Assured
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12.
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At the COMPANYS request and at reasonable times and places designated by
the COMPANY, the ASSURED shall:
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a. submit to examination by the COMPANY and
subscribe to the same under oath,
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b. produce for the COMPANYS examination all
pertinent records, and
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c. cooperate with the COMPANY in all matters
pertaining to the loss.
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The ASSURED shall execute all papers and render assistance to secure to the
COMPANY the rights and causes of action provided for under this Bond. The
ASSURED shall do nothing after loss to prejudice such rights or causes of action.
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Termination
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13.
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If the Bond is for a sole ASSURED, it shall not be terminated unless written
notice shall have been given by the acting party to the affected party and to the
Securities and Exchange Commission, Washington, D.C., not less than sixty (60)
days prior to the effective date of such termination.
If the Bond is for a joint ASSURED, it shall not be terminated unless written
notice shall have been given by the acting party to the affected party, and by the
COMPANY to all ASSURED
Investment Companies
and to the Securities and
Exchange Commission, Washington, D.C., not less than sixty (60) days prior to
the effective date of such termination.
This Bond will terminate as to any one ASSURED, other than an
Investment
Company
:
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a. immediately on the taking over of such ASSURED
by a receiver or other
liquidator or by State or Federal officials, or
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b. immediately on the filing of a petition under
any State or Federal statute
relative to bankruptcy or reorganization of the
ASSURED, or assignment for the benefit of creditors of the ASSURED, or
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c. immediately upon such ASSURED ceasing to exist,
whether through merger
into another entity, disposition of all of its
assets or otherwise.
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The COMPANY shall refund the unearned premium computed at short rates in
accordance with the standard short rate cancellation tables if terminated by the
ASSURED or pro rata if terminated for any other reason.
|
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 17 of 19
Conditions And
Limitations
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Termination
(continued)
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If any partner, director, trustee, or officer or supervisory employee of an
ASSURED not acting in collusion with an
Employee
learns of any dishonest act
committed by such
Employee
at any time, whether in the employment of the
ASSURED or otherwise, whether or not such act is of the type covered
under this Bond, and whether against the ASSURED or any other person or entity, the
ASSURED:
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a. shall immediately remove such
Employee
from a position that
would enable
such
Employee
to cause the ASSURED
to suffer a loss covered by this
Bond; and
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b. within forty-eight (48) hours of
learning that an
Employee
has
committed any dishonest act, shall notify
the COMPANY, of such action and
provide full particulars of such dishonest act.
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The COMPANY may terminate coverage as respects any
Employee
sixty (60)
days after written notice is received by each ASSURED
Investment Company
and the Securities and Exchange Commission, Washington, D.C. of its
desire to terminate this Bond as to such
Employee
.
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Other Insurance
|
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14.
|
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Coverage under this Bond shall apply only as excess over any valid and collectible
insurance, indemnity or suretyship obtained by or on behalf of:
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a. the ASSURED,
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b. a
Transportation Company
, or
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c. another entity on whose premises
the loss occurred or which
employed the
person causing the loss or engaged
the messenger conveying the
Property
involved.
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Conformity
|
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15.
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If any limitation within this Bond is prohibited by any law controlling this Bonds
construction, such limitation shall be deemed to be amended so as to
equal the minimum period of limitation provided by such law.
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Change or
Modification
|
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16.
|
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This Bond or any instrument amending or affecting this Bond may not be
changed or modified orally. No change in or modification of this Bond shall be
effective except when made by written endorsement to this Bond signed by an
authorized representative of the COMPANY.
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If this Bond is for a sole ASSURED, no change or modification which
would adversely affect the rights of the ASSURED shall be effective prior to
sixty (60) days after written notice has been furnished to the Securities and
Exchange Commission, Washington, D.C., by the acting party.
|
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 18 of 19
Conditions And
Limitations
|
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Change or Modification
(continued)
|
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If this Bond is for a joint ASSURED, no charge or modification which would
adversely affect the rights of the ASSURED shall be effective prior to sixty (60)
days after written notice has been furnished to all insured
Investment Companies
and to the Securities and Exchange Commission, Washington, D.C., by the
COMPANY.
|
ICAP Bond (5-98)
Form 17-02-1421 (Ed. 5-98) Page 19 of 19
POLICYHOLDER
DISCLOSURE NOTICE OF
TERRORISM INSURANCE COVERAGE
(for policies with no terrorism exclusion or sublimit)
You are hereby notified that, under the Terrorism Risk Insurance Act (the Act),
effective December 26, 2007, this policy makes available to you insurance for losses
arising out of certain acts of terrorism. Terrorism is defined as any act certified by the
Secretary of the Treasury, in concurrence with the Secretary of State and the Attorney General of
the United States, to be an act of terrorism; to be a violent act or an act that is
dangerous to human life, property or infrastructure; to have resulted in damage within the
United States, or outside the United States in the case of an air carrier or vessel or
the premises
of a United States Mission; and to have been committed by an individual or
individuals as
part of an effort to coerce the civilian population of the United States or to
influence the
policy or affect the conduct of the United States Government by coercion.
You should know that the insurance provided by your policy for losses caused by
acts of
terrorism is partially reimbursed by the United States under the formula set
forth in the
Act. Under this formula, the United States pays 85% of covered terrorism losses
that
exceed the statutorily established deductible to be paid by the insurance company
providing the coverage.
However, if aggregate insured losses attributable to terrorist acts certified
under the Act
exceed $100 billion in a Program Year (January 1 through December 31), the
Treasury
shall not make any payment for any portion of the amount of such losses that
exceeds
$100 billion.
10-02-1281 (Ed. 1/2003)
If aggregate insured losses attributable to terrorist acts certified under the
Act exceed
$100 billion in a Program Year (January 1 through December 31) and we have met
our
insurer deductible under the Act, we shall not be liable for the payment of any
portion of
the amount of such losses that exceeds $100 billion, and in such case insured
losses up
to that amount are subject to pro rata allocation in accordance with procedures
established by the Secretary of the Treasury.
The portion of your policys annual premium that is attributable to insurance for
such acts
of terrorism is: $
-0-.
If you have any questions about this notice, please contact your agent or broker.
10-02-1281 (Ed. 1/2003)
IMPORTANT NOTICE TO POLICYHOLDERS
All of the members of the Chubb Group
of Insurance companies doing business in the United
States (hereinafter Chubb) distribute their products through licensed
insurance brokers and agents (producers). Detailed information regarding the types of compensation paid by
Chubb to producers on US insurance transactions is available under the Producer Compensation link
located at the bottom of
the page at www.chubb.com, or by calling 1-866-588-9478. Additional information
may be available from your producer.
Thank you for choosing Chubb.
10-02-1295 (ed. 6/2007)
Important Notice:
The SEC Requires Proof of Your Fidelity Insurance Policy
Your company is now required to file an electronic copy of your fidelity insurance coverage
(Chubbs ICAP Bond policy) to the Securities and Exchange Commission (SEC), according to
rules adopted by the SEC on June 12, 2006.
Chubb is in the process of providing your agent/broker with an electronic copy of your
insurance policy as well as instructions on how to submit this proof of fidelity insurance
coverage to the SEC. You can expect to receive this information from your agent/broker
shortly.
The electronic copy of your policy is provided by Chubb solely as a convenience and does not
affect the terms and conditions of coverage as set forth in the paper policy you receive by mail.
The terms and conditions of the policy mailed to you, which are the same as those set forth in
the electronic copy, constitute the entire agreement between your company and Chubb.
If you have any questions, please contact your agent or broker.
Form 14-02-12160
(ed. 7/2006)
FEDERAL INSURANCE COMPANY
Endorsement No: 1
Bond Number: 81948072
NAME OF ASSURED: SPDR(R) SERIES TRUST AND SPDR(R) INDEX SHARES FUNDS
NAME OF ASSURED ENDORSEMENT
It is agreed that the NAME OF ASSURED in the DECLARATIONS is amended to read as follows:
SPDR
®
SERIES TRUST (f/k/a streetTRACKS
®
SERIES TRUST)
SPDR
®
DJ Wilshire Total Market ETF
SPDR
®
DJ Wilshire Large Cap ETF
SPDR
®
DJ Wilshire Large Cap Growth ETF
SPDR
®
DJ Wilshire Large Cap Value ETF
SPDR
®
DJ Wilshire Mid Cap ETF
SPDR
®
DJ Wilshire Mid Cap Growth ETF
SPDR
®
DJ Wilshire Mid Cap Value ETF
SPDR
®
DJ Wilshire Small Cap ETF
SPDR
®
DJ Wilshire Small Cap Growth ETF
SPDR
®
DJ Wilshire Small Cap Value ETF
SPDR
®
DJ Global Titans ETF
DJ Wilshire REIT ETF
KBW Bank ETF
KBW Capital Markets ETF
KBW Insurance ETF
Morgan Stanley Technology ETF
SPDR
®
S&P
®
Dividend ETF
SPDR
®
S&P
®
Biotech ETF
SPDR
®
S&P
®
Homebuilders ETF
SPDR
®
S&P
®
Metals & Mining ETF
SPDR
®
S&P
®
Oil & Gas Equipment & Services ETF
SPDR
®
S&P
®
Oil & Gas Exploration & Production ETF
SPDR
®
S&P
®
Pharmaceuticals ETF
SPDR
®
S&P
®
Retail ETF
SPDR
®
S&P
®
Semiconductor ETF
KBW Regional BankingSM ETF
SPDR
®
Lehman 1-3 Month T-Bill ETF
SPDR
®
Lehman Intermediate Term Treasury ETF
SPDR
®
Lehman Long Term Treasury ETF
SPDR
®
Barclays Capital TIPS ETF
SPDR
®
Lehman Aggregate Bond ETF
SPDR
®
Lehman Municipal Bond ETF
SPDR
®
Lehman International Treasury Bond ETF
SPDR
®
Lehman California Municipal Bond ETF
SPDR
®
Lehman New York Municipal Bond ETF
SPDR
®
Lehman Short Term Municipal Bond ETF
ICAP Bond
Form 17-02-0949 (Rev. 1-97)
SPDR
®
Lehman High Yield Bond ETF
SPDR
®
DB International Government Inflation-Protected Bond ETF
SPDR
®
INDEX SHARES FUNDS (f/k/a streetTRACKS
®
INDEX SHARES FUNDS)
DJ STOXX 50
®
ETF
DJ EURO STOXX 50
®
ETF
SPDR
®
DJ Wilshire International Real Estate ETF
SPDR
®
DJ Wilshire Global Real Estate ETF
SPDR
®
FTSE/Macquarie Global Infrastructure 100 ETF
SPDR
®
MSCI ACWI ex-US ETF
SPDR
®
Russell/Nomura PRIME Japan ETF
SPDR
®
Russell/Nomura Small Cap Japan ETF
SPDR
®
S&P
®
China ETF
SPDR
®
S&P
®
Emerging Asia Pacific ETF
SPDR
®
S&P
®
Emerging Markets ETF
SPDR
®
S&P
®
Emerging Markets SMALL CAP ETF
SPDR
®
S&P
®
Emerging Europe ETF
SPDR
®
S&P
®
Emerging Latin America ETF
SPDR
®
S&P
®
Emerging Middle East & Africa ETF
SPDR
®
S&P
®
World ex-US ETF
SPDR
®
S&P
®
International Small Cap ETF
SPDR
®
S&P
®
International Mid Cap ETF
SPDR
®
S&P
®
BRIC 40 ETF
SPDR
®
S&P
®
International Dividend ETF
This Endorsement applies to loss discovered after 12:01 a.m. on July 1, 2008.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
Date:
October 22, 2008
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By
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Authorized Representative
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ICAP Bond
Form 17-02-0949 (Ed. 1-97) Page 2
ENDORSEMENT/RIDER
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Effective date of
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this endorsement/rider: July 1, 2008
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FEDERAL INSURANCE COMPANY
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Endorsement/Rider No. 2
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To be attached to and form a part of Bond No. 81948072
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Issued to: SPDR(R) SERIES TRUST AND SPDR(R) INDEX SHARES FUNDS
DELETING VALUATION-OTHER PROPERTY AND AMENDING CHANGE OR MODIFICATION
ENDORSEMENT
In consideration of the premium charged, it is agreed that this Bond is amended as follows:
1.
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The paragraph titled Other Property in Section 9, Valuation, is deleted in its entirety.
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2.
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The third paragraph in Section 16, Change or Modification, is deleted in its entirety and replaced
with the following:
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If this Bond is for a joint ASSURED, no change or modification which would adversely affect the
rights of the ASSURED shall be effective prior to sixty (60) days after written notice has been
furnished to all insured
Investment Companies
and the Securities and Exchange Commission,
Washington, D.C., by the COMPANY.
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The title and any headings in this endorsement/rider are solely for convenience and form no part of the
terms and conditions of coverage.
All other terms, conditions and limitations of this Bond shall remain unchanged.
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By
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Authorized Representative
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17-02-2437 (12/2006) rev.
Page 1
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FEDERAL INSURANCE COMPANY
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Endorsement No: 3
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Bond Number: 81948072
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NAME OF ASSURED: SPDR(R) SERIES TRUST AND SPDR(R) INDEX SHARES FUNDS
TERMINATION-NONRENEWAL-NOTICE ENDORSEMENT
It is agreed that this Bond is amended as follows:
1.
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By adding to Section 13., Termination, the following:
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Termination By The Company
Bonds In Effect For More Than Sixty (60) Days
If this Bond has been in effect for more than sixty (60) days, or, if this Bond is a renewal, the COMPANY
may terminate by providing written notice of cancellation at least sixty (60) days before the effective date
of termination for at least one of the following reasons:
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1.
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Nonpayment of premium;
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2.
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Discovery of fraud or material misrepresentation in obtaining this Bond or in the presentation of a
claim thereunder;
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3.
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Discovery of willful or reckless acts or omissions or violation of any provision of this Bond on the
part of the ASSURED which substantially and materially increases any hazard insured against, and
which occurred subsequent to the inception of the current BOND PERIOD;
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4.
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Conviction of the ASSURED of a crime arising out of acts increasing the hazard insured against;
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5.
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Material change in the risk which increases the risk of loss after insurance coverage has been
issued or renewed, except to the extent that the COMPANY should reasonably have foreseen the
change, or contemplated the risk when the contract was written;
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6.
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Determination by the Commissioner that the continuation of the Bond would jeopardize a
COMPANYS solvency or would place the COMPANY in violation of the insurance laws of any
state;
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7.
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Determination by the Commissioner that continuation of the present premium volume of the
COMPANY would jeopardize the COMPANYS policyholders, creditors or the public;
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8.
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Such other reasons that are approved by the Commissioner;
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9.
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Determination by the Commissioner that the COMPANY no longer has adequate reinsurance to
meet the ASSUREDS needs;
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10.
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Substantial breaches of contractual duties, conditions or warranties; or
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11.
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Unfavorable underwriting facts, specific to the ASSURED, existing that were not present at the
inception of the Bond.
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ICAP Bond
Form 17-02-1360 (Rev. 10-99) Page 1
Bonds In Effect Sixty (60) Days Or Less
If this Bond has been in effect for sixty (60) days or less, and it is not a renewal Bond, the COMPANY
may terminate for any reason by providing written notice of termination at least sixty (60) days before the
effective date of termination.
Notice Of Termination
Notice of termination under this Section shall be mailed or delivered, by certified mail, return receipt
provided by the United States Postal Service, to the ASSURED and to the authorized agent or broker, if
any, at least sixty (60) days prior to the effective date of cancellation at the address shown on the
DECLARATIONS of this Bond.
If this Bond is cancelled for nonpayment of premium, the COMPANY will mail or deliver, by certified
mail, return receipt provided by the United States Postal Service, a written notice at least thirty (30) days
before the effective date of cancellation. The cancellation notice shall contain information regarding the
amount of premium due and the due date, and shall state the effect of nonpayment by the due date.
Cancellation shall not be effective if payment of the amount due is made prior to the effective date of
cancellation.
All notice of cancellation shall state the reason(s) for cancellation.
There is no liability on the part of, and no cause of action of any nature shall arise against, the
COMPANY, its authorized representatives, its employees, or any firm, person or corporation furnishing to
the COMPANY, information relating to the reasons for cancellation or nonrenewal, for any statement
made by them in complying or enabling the COMPANY to comply with this Section, for the provision of
information pertaining thereto, or for statements made or evidence submitted at any hearings conducted
in connection therewith, if such information was provided in good faith and without malice.
Notice Of Nonrenewal
If the COMPANY elects not to renew this Bond, the COMPANY shall mail or deliver written notice, by
certified mail, return receipt, provided by the United States Postal Service, to the ASSURED, at his last
known address, at least sixty (60) days before the expiration date or before the anniversary date, if this
Bond has been written for a term of more than one (1) year. Such notice shall also be mailed to the
ASSUREDS agent or broker, if any.
Such notice shall contain all of the following:
a.
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Bond Number:
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b.
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Date of Notice;
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c.
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Reason for Cancellation;
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d.
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Expiration Date of the Bond;
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e.
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Effective Date and Hour of Cancellation.
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Notice of nonrenewal shall not be required if the COMPANY or a COMPANY within the same insurance
group has offered to issue a renewal Bond, the ASSURED has obtained replacement coverage or has
agreed in writing to obtain replacement coverage, the ASSURED has requested or agreed to
nonrenewal, or the Bond is expressly designated as nonrenewable.
ICAP Bond
Form 17-02-1360 (Rev. 10-99) Page 2
Return Premium Calculations
Any unearned premiums which have been paid by the ASSURED shall be refunded to the ASSURED on
a pro rata basis if terminated by the COMPANY or the ASSURED. The unearned premiums shall be
refunded to the ASSURED within forty-five (45) days of receipt of the request for cancellation or the
effective date of cancellation, whichever is later.
Conditional Renewal
If the COMPANY offers or purports to renew the Bond, but on less favorable terms or at higher rates, the
new terms or higher premiums may take effect on the renewal date, if the COMPANY mails or delivers
by certified mail, return receipt provided by the United States Postal Service, to the ASSURED, notice of
the new terms or premiums at least sixty (60) days prior to the renewal date. If the COMPANY notifies
the ASSURED within sixty (60) days prior to the renewal date, the new terms or premiums do not take
effect until sixty (60) days after the notice is mailed or delivered, in which case, the ASSURED may elect
to cancel the renewal Bond within the sixty (60) day period. If the COMPANY does not notify the
ASSURED of the new terms or premiums, the COMPANY shall continue the Bond at the expiring terms
and premiums until notice is given or until the effective date of replacement coverage is obtained by the
ASSURED, whichever occurs first.
2.
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It is further understood and agreed that for the purposes of Section 13., Termination, any occurrence
listed in this Section shall be considered to be a request by the ASSURED to immediately terminate this
Bond.
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This Endorsement applies to loss discovered after 12:01 a.m. on July 1, 2008.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
Date: October 22, 2008
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By
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Authorized Representative
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ICAP Bond
Form 17-02-1360 (Rev. 10-99) Page 3
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Effective date of
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this endorsement: July 1, 2008
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FEDERAL INSURANCE COMPANY
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Endorsement No.: 4
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To be attached to and form a part
of Bond Number: 81948072
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Issued to: SPDR(R) SERIES TRUST AND SPDR(R) INDEX SHARES FUNDS
COMPLIANCE WITH APPLICABLE TRADE SANCTION LAWS RIDER
It is agreed that this insurance does not apply to the extent that trade or economic sanctions or other
laws or regulations prohibit the coverage provided by this insurance.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
Date: October 22, 2008
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By
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Authorized Representative
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Form 14-02-9228 (Ed. 4/2004)
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FEDERAL INSURANCE COMPANY
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Endorsement No.: 5
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Bond Number: 81948072
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NAME OF ASSURED: SPDR(R) SERIES TRUST AND SPDR(R) INDEX SHARES FUNDS
DELETE AN ENDORSEMENT
It is agreed that this Bond is amended by deleting Endorsement Number(s) 1 in its entirety.
This Endorsement applies to loss discovered after 12:01 a.m. on July 16, 2008.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
Date: October 22, 2008
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By
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Authorized Representative
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ICAP Bond
Form 17-02-5647 (Ed. 11-03)
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FEDERAL INSURANCE COMPANY
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Endorsement No: 6
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Bond Number: 81948072
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NAME OF ASSURED: SPDR(R) SERIES TRUST AND SPDR(R) INDEX SHARES FUNDS
NAME OF ASSURED ENDORSEMENT
It is agreed that the NAME OF ASSURED in the DECLARATIONS is amended to read as follows:
SPDR
®
SERIES TRUST (f/k/a streetTRACKS
®
SERIES TRUST)
SPDR
®
DJ Wilshire Total Market ETF
SPDR
®
DJ Wilshire Large Cap ETF
SPDR
®
DJ Wilshire Large Cap Growth ETF
SPDR
®
DJ Wilshire Large Cap Value ETF
SPDR
®
DJ Wilshire Mid Cap ETF
SPDR
®
DJ Wilshire Mid Cap Growth ETF
SPDR
®
DJ Wilshire Mid Cap Value ETF
SPDR
®
DJ Wilshire Small Cap ETF
SPDR
®
DJ Wilshire Small Cap Growth ETF
SPDR
®
DJ Wilshire Small Cap Value ETF
SPDR
®
DJ Global Titans ETF
DJ Wilshire REIT ETF
KBW Bank ETF
KBW Capital Markets ETF
KBW Insurance ETF
Morgan Stanley Technology ETF
SPDR
®
S&P
®
Dividend ETF
SPDR
®
S&P
®
Biotech ETF
SPDR
®
S&P
®
Homebuilders ETF
SPDR
®
S&P
®
Metals & Mining ETF
SPDR
®
S&P
®
Oil & Gas Equipment & Services ETF
SPDR
®
S&P
®
Oil & Gas Exploration & Production ETF
SPDR
®
S&P
®
Pharmaceuticals ETF
SPDR
®
S&P
®
Retail ETF
SPDR
®
S&P
®
Semiconductor ETF
KBW Regional BankingSM ETF
SPDR
®
Lehman 1-3 Month T-Bill ETF
SPDR
®
Lehman Intermediate Term Treasury ETF
SPDR
®
Lehman Long Term Treasury ETF
SPDR
®
Barclays Capital TIPS ETF
SPDR
®
Lehman Aggregate Bond ETF
SPDR
®
Lehman Municipal Bond ETF
SPDR
®
Lehman International Treasury Bond ETF
SPDR
®
Lehman California Municipal Bond ETF
SPDR
®
Lehman New York Municipal Bond ETF
SPDR
®
Lehman Short Term Municipal Bond ETF
ICAP Bond
Form 17-02-0949 (Rev. 1-97)
SPDR
®
Lehman High Yield Bond ETF
SPDR
®
DB International Government Inflation-Protected Bond ETF
SPDR
®
INDEX SHARES FUNDS (f/k/a streetTRACKS
®
INDEX SHARES FUNDS)
DJ STOXX 50
®
ETF
DJ EURO STOXX 50
®
ETF
SPDR
®
DJ Wilshire International Real Estate ETF
SPDR
®
DJ Wilshire Global Real Estate ETF
SPDR
®
FTSE/Macquarie Global Infrastructure 100 ETF
SPDR
®
MSCI ACWI ex-US ETF
SPDR
®
Russell/Nomura PRIME Japan ETF
SPDR
®
Russell/Nomura Small Cap Japan ETF
SPDR
®
S&P
®
China ETF
SPDR
®
S&P
®
Emerging Asia Pacific ETF
SPDR
®
S&P
®
Emerging Markets ETF
SPDR
®
S&P
®
Emerging Markets SMALL CAP ETF
SPDR
®
S&P
®
Emerging Europe ETF
SPDR
®
S&P
®
Emerging Latin America ETF
SPDR
®
S&P
®
Emerging Middle East & Africa ETF
SPDR
®
S&P
®
World ex-US ETF
SPDR
®
S&P
®
International Small Cap ETF
SPDR
®
S&P
®
International Mid Cap ETF
SPDR
®
S&P
®
BRIC 40 ETF
SPDR
®
S&P
®
International Dividend ETF
SPDR
®
S&P
®
International Consumer Discretionary Sector ETF
SPDR
®
S&P
®
International Consumer Staples Sector ETF
SPDR
®
S&P
®
International Energy Sector ETF
SPDR
®
S&P
®
International Financial Sector ETF
SPDR
®
S&P
®
International Health Care Sector ETF
SPDR
®
S&P
®
International Industrial Sector ETF
SPDR
®
S&P
®
International Materials Sector ETF
SPDR
®
S&P
®
International Technology Sector ETF
SPDR
®
S&P
®
International Telecommunications Sector ETF
SPDR
®
S&P
®
International Utilities Sector ETF
This Endorsement applies to loss discovered after 12:01 a.m. on July 16, 2008.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
Date: October 22, 2008
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By
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Authorized Representative
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ICAP Bond
Form 17-02-0949 (Ed. 1-97) Page 2
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FEDERAL INSURANCE COMPANY
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Endorsement No.: 7
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Bond Number: 81948072
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NAME OF ASSURED: SPDR(R) SERIES TRUST AND SPDR(R) INDEX SHARES FUNDS
DELETE AN ENDORSEMENT
It is agreed that this Bond is amended by deleting Endorsement Number(s) 6 in its entirety.
This Endorsement applies to loss discovered after 12:01 a.m. on September 4, 2008.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
Date: October 22, 2008
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By
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Authorized Representative
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ICAP Bond
Form 17-02-5647 (Ed. 11-03)
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FEDERAL INSURANCE COMPANY
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Endorsement No: 8
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Bond Number: 81948072
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NAME OF ASSURED: SPDR(R) SERIES TRUST AND SPDR(R) INDEX SHARES FUNDS
NAME OF ASSURED ENDORSEMENT
It is agreed that the NAME OF ASSURED in the DECLARATIONS is amended to read as follows:
SPDR
®
SERIES TRUST (f/k/a streetTRACKS
®
SERIES TRUST)
SPDR
®
DJ Wilshire Total Market ETF
SPDR
®
DJ Wilshire Large Cap ETF
SPDR
®
DJ Wilshire Large Cap Growth ETF
SPDR
®
DJ Wilshire Large Cap Value ETF
SPDR
®
DJ Wilshire Mid Cap ETF
SPDR
®
DJ Wilshire Mid Cap Growth ETF
SPDR
®
DJ Wilshire Mid Cap Value ETF
SPDR
®
DJ Wilshire Small Cap ETF
SPDR
®
DJ Wilshire Small Cap Growth ETF
SPDR
®
DJ Wilshire Small Cap Value ETF
SPDR
®
DJ Global Titans ETF
SPDR
®
DJ Wilshire REIT ETF
SPDR
®
KBW Bank ETF
SPDR
®
KBW Capital Markets ETF
SPDR
®
KBW Insurance ETF
SPDR
®
Morgan Stanley Technology ETF
SPDR
®
S&P
®
Dividend ETF
SPDR
®
S&P
®
Biotech ETF
SPDR
®
S&P
®
Homebuilders ETF
SPDR
®
S&P
®
Metals & Mining ETF
SPDR
®
S&P
®
Oil & Gas Equipment & Services ETF
SPDR
®
S&P
®
Oil & Gas Exploration & Production ETF
SPDR
®
S&P
®
Pharmaceuticals ETF
SPDR
®
S&P
®
Retail ETF
SPDR
®
S&P
®
Semiconductor ETF
SPDR
®
KBW Regional Banking
SM
ETF
SPDR
®
Lehman 1-3 Month T-Bill ETF
SPDR
®
Lehman Intermediate Term Treasury ETF
SPDR
®
Lehman Long Term Treasury ETF
SPDR
®
Barclays Capital TIPS ETF
SPDR
®
Lehman Aggregate Bond ETF
SPDR
®
Lehman Municipal Bond ETF
ICAP Bond
Form 17-02-0949 (Rev. 1-97)
SPDR
®
Lehman International Treasury Bond ETF
SPDR
®
Lehman California Municipal Bond ETF
SPDR
®
Lehman New York Municipal Bond ETF
SPDR
®
Lehman Short Term Municipal Bond ETF
SPDR
®
Lehman High Yield Bond ETF
SPDR
®
DB International Government Inflation-Protected Bond ETF
SPDR
®
INDEX SHARES FUNDS (f/k/a streetTRACKS
®
INDEX SHARES FUNDS)
SPDR
®
DJ STOXX 50 ETF
SPDR
®
DJ EURO STOXX 50 ETF
SPDR
®
DJ Wilshire International Real Estate ETF
SPDR
®
DJ Wilshire Global Real Estate ETF
SPDR
®
FTSE/Macquarie Global Infrastructure 100 ETF
SPDR
®
MSCI ACWI ex-US ETF
SPDR
®
Russell/Nomura PRIME Japan ETF
SPDR
®
Russell/Nomura Small Cap Japan ETF
SPDR
®
S&P
®
China ETF
SPDR
®
S&P
®
Emerging Asia Pacific ETF
SPDR
®
S&P
®
Emerging Markets ETF
SPDR
®
S&P
®
Emerging Markets SMALL CAP ETF
SPDR
®
S&P
®
Emerging Europe ETF
SPDR
®
S&P
®
Emerging Latin America ETF
SPDR
®
S&P
®
Emerging Middle East & Africa ETF
SPDR
®
S&P
®
World ex-US ETF
SPDR
®
S&P
®
International Small Cap ETF
SPDR
®
S&P
®
International Mid Cap ETF
SPDR
®
S&P
®
BRIC 40 ETF
SPDR
®
S&P
®
International Dividend ETF
SPDR
®
S&P
®
International Consumer Discretionary Sector ETF
SPDR
®
S&P
®
International Consumer Staples Sector ETF
SPDR
®
S&P
®
International Energy Sector ETF
SPDR
®
S&P
®
International Financial Sector ETF
SPDR
®
S&P
®
International Health Care Sector ETF
SPDR
®
S&P
®
International Industrial Sector ETF
SPDR
®
S&P
®
International Materials Sector ETF
SPDR
®
S&P
®
International Technology Sector ETF
SPDR
®
S&P
®
International Telecommunications Sector ETF
SPDR
®
S&P
®
International Utilities Sector ETF
This Endorsement applies to loss discovered after 12:01 a.m. on September 4, 2008.
ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
ICAP Bond
Form 17-02-0949 (Ed. 1-97) Page 2
Date: October 22, 2008
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By
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Authorized Representative
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ICAP Bond
Form 17-02-0949 (Ed. 1-97) Page 2
FID BOND SECRETARY CERTIFICATE.DOC
SECRETARYS CERTIFICATE
I, Ryan M. Louvar, Secretary of SPDR
®
Series Trust and SPDR
®
Index Shares
Funds (collectively, the Trusts), hereby certify that the following resolutions were approved by
the Boards of Trustees of the Trusts (which is comprised of a majority of Trustees who were not
considered interested persons as that term is defined in the Investment Company Act of 1940, as
amended (1940 Act)) at a meeting duly called and held on May 29, 2008:
Resolved
, that the Joint Bond issued by Chubb Group of Insurance Companies for the
period from July 1, 2008 to July 1, 2009, which covers each officer and employee of the
Trusts who may have access to the Trusts securities or funds, or the power to direct
disposition thereof, be, and hereby is, approved in all respects with respect to the
existing SPDR ETFs and the New ETFs; and further
Resolved
,
that the Boards of Trustees, including a majority of the Independent
Trustees, of the Trusts have determined that entering into the Joint Bond as presented at
this Meeting is in the best interest of the Trusts; and further
Resolved
,
that the coverage amount of $5,000,000 is the appropriate level of
coverage, based on the gross assets of the Trusts, having considered all relevant factors,
including, without limitation, the value of the aggregate assets of the Trusts to which any
covered person may have access, the types and terms of the arrangements made for the
custody and safekeeping of such assets, the nature of the securities held in the respective
Funds and the daily monitoring of the Trusts assets; and further
Resolved
,
that the premium payable on the Joint Bond by the Trusts shall be
allocated in proportion to the amount of premium that would have been payable by each Trust
had each Trust separately obtained a fidelity bond equal to the minimum bond required under
Rule 17g-1(d) under the 1940 Act based upon their respective gross assets as of the most
recent quarter ended; and further
Resolved
,
that each Board does hereby approve the Trusts participation in the
Joint Agreement among the parties participating in the Joint Bond to provide that the
premium and any recoveries under the Bond will be allocated in a fair and equitable manner
and in accordance with the terms of the Joint Agreement; and further
Resolved
,
that such Joint Bond is not to be cancelled, terminated or modified
except upon 60 days written notice to both the affected party and the Securities and
Exchange Commission; and that the officers of the Trusts and of the Trusts Administrator
be, and hereby are, directed to make the filings, give the notices and take all other
necessary actions required by Rule 17g-1; and further
Resolved
, that, pursuant to Rule 17d-1(d)(7) under the 1940 Act, the Trustees,
having taken all relevant factors into consideration, including (if applicable), but not
limited to, (i) the Trusts participation in the Joint Policy is in the best interests of
the investment company; (ii) the proposed premium for the Joint Policy to be allocated to
the investment company, based upon its proportionate share of the sum of the premiums that
would have been paid if such insurance coverage were purchased separately by the insured
parties, is fair and reasonable to the investment company; (iii) the Joint Policy does not
exclude coverage for bona fide claims made against any Trustee who is not an interested
person of the investment company, or against the investment company if it is a co-defendant
in the claim with the disinterested trustee, by another person insured under the Joint
Policy; and (iv) a majority of the Independent Trustees, select and nominate any other
Independent Trustees of the Trusts; hereby approve the payment of the premium of such
policy as determined at the Meeting; and further
Resolved,
that the officers of the Trusts be, and each hereby is, authorized to
execute such documents, to make any and all payments and to take such actions as may be
necessary or appropriate to carry out the purposes and intent of the preceding resolutions,
the execution and delivery of such documents or taking of such actions to be conclusive
evidence of the Boards approval.
IN WITNESS WHEREOF, I have hereunto set my hand this 31
st
day of October, 2008.
/s/
Ryan M. Louvar
Ryan M. Louvar
Secretary
JOINT FIDELITY BOND AGREEMENT
AGREEMENT dated the 31
st
day of May 2008 between SPDR Series Trust and SPDR Index
Shares Funds (each a Trust, together, the Trusts):
WHEREAS, each Trust is required to maintain fidelity bond coverage up to a maximum bond of
$2,500,000 under Rule 17g-1(d);
WHEREAS, each Trust is a named insured under certain fidelity bond coverage written by Federal
Insurance Company, a member company of The Chubb Group of Insurance Companies (the Insurer), in
the aggregate amount of $5,000,000 as of the date of this Agreement (the Fidelity Bond), which
Fidelity Bond is intended to be in full compliance with Rule 17g-1 under the Investment Company Act
of 1940; and
WHEREAS, the Trusts desire to enter into an agreement in order to meet the requirements of
Rule 17g-1(f) and to assure that premiums on the Fidelity Bond and any recovery received under the
Fidelity Bond are allocated in a fair and equitable manner;
NOW, THEREFORE, the Trusts do hereby agree as follows:
1. As of the date of this Agreement, the premium payable on the Fidelity Bond by each Trust shall
be allocated in proportion to the amount of premium that would have been payable by each Trust had
each Trust separately obtained a fidelity bond equal to the minimum bond required under Rule
17g-1(d) based upon their respective gross assets as of the most recent quarter ended.
2. In the event that the claims of loss of both Trusts are so related that the Insurer is entitled
to assert that the claims must be aggregated with the result that the total amount payable on such
claims is limited to the face amount of the Fidelity Bond, the following rules for determining, as
between the Trusts, the priorities for satisfaction of the claims under the Fidelity Bond shall
apply:
a. First, all claims of each Trust which have been duly proven and established under the
Fidelity Bond shall be satisfied up to the minimum amount of the Fidelity Bond, as
determined pursuant to paragraph 1 hereof, required for such Trust, so that each Trust
shall receive an amount equal to the amount which it would have otherwise received had it
provided and maintained a single insured bond under Rule 17g-1(d); and
b. Second, the remaining amount of insurance, if any, shall then be applied to claims of
the Trust in proportion to the total of the unsatisfied amount of the claims of each Trust.
3. If in the future any additional series Fund of a Trust is created (an Additional Fund), and if
the Insurer is willing to add the Additional Portfolio as a named insured under the Fidelity Bond
provided the amount of the Fidelity Bond is increased by an amount not less than the amount which
would have been required for the Additional Funds to obtain a separate bond under Rule 17g-1(d),
and upon giving in written notice to the Trusts thereunder, such Additional Fund shall become
subject to this Agreement.
IN WITNESS WHEREOF, each Trust has caused this Agreement to be executed by an officer
thereunder duly authorized as of the date first above written.
SPDR Series Trust
SPDR Index Shares Funds
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By:
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/s/ James Ross
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Name:
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James Ross
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Title:
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President
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Premium Statement.doc
State Street Bank and Trust Company
One Lincoln Street
Boston, MA 02111
October 31, 2008
VIA EDGAR
Securities and Exchange Commission
100 F Street, N.E.
Washington, D.C. 20549
Attention: Office of Filings, Information & Consumer Service
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Re:
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SPDR
®
Series Trust (File No. 811-08839)
SPDR
®
Index Shares Funds (File No. 811-21145)
(together, the Funds)
Fidelity Bond Filing Pursuant to Rule 17g-1
|
Dear Sir/Madam:
Pursuant to Rule 17g-1 of the Investment Company Act of 1940, as amended, please be advised that
the premium associated with the Funds Investment Company Blanket Bond in the amount of $5,000,000
has been submitted for payment for the July 1, 2008 to
July 1, 2009 policy year, which is scheduled to be
processed the week of November 3, 2008.
If you have any questions, please give me a call at 617-662-3909.
Very truly yours,
/s/Ryan M. Louvar
Ryan M. Louvar
Vice President and Senior Counsel
Secretary, SPDR Series Trust and SPDR Index Shares Funds
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