WISCONSIN CAPITAL FUNDS, INC.
SEVENTH AMENDMENT TO THE
CUSTODY AGREEMENT
THIS SEVENTH AMENDMENT effective as of the 2nd day of August, 2025 (the “Effective Date”), to the Custody Agreement made and entered into as of May 21, 2007, as amended October 1, 2009, May 1, 2011, May 1, 2012, May 1, 2013, and May 1, 2015 (the “Agreement”), is entered into by and between WISCONSIN CAPITAL FUNDS, INC., a Maryland corporation (the “Company”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America with its principal place of business at Minneapolis, Minnesota (the “Custodian”).
RECITALS
WHEREAS, the parties have entered into the Agreement; and
WHEREAS, the parties desire to amend the fee schedule set forth on Amended Exhibit D to the Agreement; and
WHEREAS, Article XIV, Section 14.2 of the Agreement allows for its amendment by a written instrument executed by both parties.
NOW, THEREFORE, the parties agree as follows:
1.Amended Exhibit D of the Agreement is hereby superseded and replaced in its entirety with Amended Exhibit D attached hereto.
2.Except to the extent amended hereby, the Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by a duly authorized officer on one or more counterparts as of the Effective Date.
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| WISCONSIN CAPITAL FUNDS, INC. | U.S. BANK NATIONAL ASSOCIATION |
| By: | /s/ Thomas G. Plumb | By: | /s/ Gregory Farley |
| Name: | Thomas G. Plumb | Name: | Gregory Farley |
| Title: | Chairman & CEO | Title: | Senior Vice President |
| Date: | 7/9/2025 | Date: | 7/10/2025 |
Amended Exhibit D to the Custody Agreement
Custody Services Fee Schedule
Based upon an annual rate of average daily market value of all long securities and cash held in the portfolio*:
[...] basis point
Minimum annual fee per fund – $[...]
Plus portfolio transaction fees
Portfolio Transaction Fees
$[...] – Book entry DTC transaction, Federal Reserve transaction, principal paydown
$[...] – Repurchase agreement, reverse repurchase agreement, time deposit/CD or other non-depository transaction
$[...] – Option/SWAPS/future contract written, exercised or expired
$[...] – Mutual fund trade, Margin Variation Wire and outbound Fed wire
$[...] – Physical security transaction
$[...] – Check disbursement (waived if U.S. Bancorp is Administrator)
$[...] Manual instructions fee. (Additional Per Securities and Cash Transactions)
$[...] Cancellation/Repair fee. (Additional Per Securities and Cash Transactions)
$[...] Per Non-USD wire.
$[...] Per 3rd party FX settled at U.S. Bank
$[...] Monthly charge on zero valued securities (Per ISIN)
$[...] Per Proxy Vote cast.
$[...] Dormant account fee (one year no activity)
A transaction is a purchase/sale of a security, free receipt/free delivery, maturity, tender or exchange.
Miscellaneous Expenses
All other miscellaneous fees and expenses, including but not limited to the following, will be separately billed as incurred: expenses incurred in the safekeeping, delivery and receipt of securities, shipping, transfer fees, deposit withdrawals at custodian (DWAC) fees, SWIFT charges, negative interest charges and extraordinary expenses based upon complexity.
Additional Services
Additional fees apply for global servicing. Fund of Fund expenses quoted separately.
$[...] per custody sub – account per year (e.g., per sub –adviser, segregated account, etc.)
Class Action Services –[...]% of gross proceeds, $[...] minimum recovery.
No charge for the initial conversion free receipt.
Overdrafts – charged to the account at prime interest rate plus [...]%, unless a line of credit is in place
Third Party lending - Additional fees will apply.
Additional services not included above shall be mutually agreed upon at the time of the service being added. In addition to the fees described above, additional fees may be charged to the extent that changes to applicable laws, rules or regulations require additional work or expenses related to services provided (e.g., margin management services, securities lending services, compliance with new SEC rules and reporting requirements).
Fees are calculated pro rata and billed monthly.
*Subject to annual CPI increase – All Urban Consumers – U.S. City Average” index, provided that the CPI adjustment will not decrease the base fees (even if the cumulative CPI rate at any point in time is negative).
Additional Global Sub-Custodial Services Annual Fee Schedule
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Country | Safekeeping (BPS) | Transaction fee* | | Country | Safekeeping (BPS) | Transaction fee* | | Country | Safekeeping (BPS) | Transaction fee* |
Argentina | [...] | $[...] | | Hong Kong | [...] | $[...] | | Poland | [...] | $[...] |
Australia | [...] | $[...] | | Hungary | [...] | $[...] | | Portugal | [...] | $[...] |
Austria | [...] | $[...] | | Iceland | [...] | $[...] | | Qatar | [...] | $[...] |
Bahrain | [...] | $[...] | | India | [...] | $[...] | | Romania | [...] | $[...] |
Bangladesh | [...] | $[...] | | Indonesia | [...] | $[...] | | Russia | [...] | $[...] |
Belgium | [...] | $[...] | | Ireland | [...] | $[...] | | Saudi Arabia | [...] | $[...] |
Bermuda | [...] | $[...] | | Israel | [...] | $[...] | | Serbia | [...] | $[...] |
Botswana | [...] | $[...] | | Italy | [...] | $[...] | | Singapore | [...] | $[...] |
Brazil | [...] | $[...] | | Japan | [...] | $[...] | | Slovakia | [...] | $[...] |
Bulgaria | [...] | $[...] | | Jordan | [...] | $[...] | | Slovenia | [...] | $[...] |
Canada | [...] | $[...] | | Kenya | [...] | $[...] | | South Africa | [...] | $[...] |
Chile | [...] | $[...] | | Kuwait | [...] | $[...] | | South Korea | [...] | $[...] |
China Connect | [...] | $[...] | | Latvia | [...] | $[...] | | Spain | [...] | $[...] |
China (B Shares) | [...] | $[...] | | Lithuania | [...] | $[...] | | Sri Lanka | [...] | $[...] |
Colombia | [...] | $[...] | | Luxembourg | [...] | $[...] | | Sweden | [...] | $[...] |
Costa Rica | [...] | $[...] | | Malaysia | [...] | $[...] | | Switzerland | [...] | $[...] |
Croatia | [...] | $[...] | | Malta | [...] | $[...] | | Taiwan | [...] | $[...] |
Cyprus | [...] | $[...] | | Mauritius | [...] | $[...] | | Tanzania | [...] | $[...] |
Czech Republic | [...] | $[...] | | Mexico | [...] | $[...] | | Thailand | [...] | $[...] |
Denmark | [...] | $[...] | | Morocco | [...] | $[...] | | Tunisia | [...] | $[...] |
Egypt | [...] | $[...] | | Namibia | [...] | $[...] | | Turkey | [...] | $[...] |
Estonia | [...] | $[...] | | Netherlands | [...] | $[...] | | UAE | [...] | $[...] |
Euroclear
(Eurobonds) | [...] | $[...] | | New Zealand | [...] | $[...] | | Uganda | [...] | $[...] |
Euroclear
(Non-Eurobonds) | [...] | $[...] | | Nigeria | [...] | $[...] | | Ukraine | [...] | $[...] |
Finland | [...] | $[...] | | Norway | [...] | $[...] | | United Kingdom | [...] | $[...] |
France | [...] | $[...] | | Oman | [...] | $[...] | | Uruguay | [...] | $[...] |
Germany | [...] | $[...] | | Pakistan | [...] | $[...] | | Vietnam | [...] | $[...] |
Ghana | [...] | $[...] | | Panama | [...] | $[...] | | West African Economic Monetary Union (WAEMU)** | [...] | $[...] |
Greece | [...] | $[...] | | Peru | [...] | $[...] | | Zambia | [...] | $[...] |
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| | Philippines |
| $[...] | | Zimbabwe |
| $[...] |
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* Transaction Fee includes: Receive Versus Payment (RVP), Delivery Versus Payment (DVP), FREE REC, and FREE DEL activity related to securities settlement within U.S. Bank sub-custodian network.
** Includes Ivory Coast, Mali, Niger, Burkina Faso, Senegal, Guinea Bissau, Togo, and Benin.
Global Custody Base Fee
A monthly base fee of $[...] per fund will apply. If no global assets are held within a given month, the monthly base charge will not apply for that month.
Global Custody Tax Services:
Global Filing: $[...] per annum
U.S. Domestic Filing: $[...] per annum (Only ADRs)
3rd Party Tax Service Provider: $[...] per annum (does not include out of pocket expenses incurred in the fulfillment of requests from the 3rd party)
Any client who does not elect for U.S. Bank Global Custody/3rd Party Tax Services, but elects to pursue relief themselves, would be charged for out of pocket expenses incurred in the fulfillment of the requests.
Miscellaneous Expenses
Charges incurred by U.S. Bank, N.A. directly or through sub-custodians for account opening fees, tax reclaim fees, local taxes, stamp duties or other local duties and assessments, stock exchange fees, central securities depository fees, securities market regulator fees, foreign exchange transactions, postage and insurance for shipping, facsimile reporting, extraordinary telecommunications fees, proxy services and other shareholder communications, recurring administration fees, negative interest charges, overdraft charges or other expenses which are unique to a country in which the client or its clients is investing will be passed along as incurred.
A surcharge may be added to certain miscellaneous expenses listed herein to cover handling, servicing and other administrative costs associated with the activities giving rise to such expenses. Also, certain expenses are charged at a predetermined flat rate.
SWIFT reporting and message fees.
Non Eurobonds rate sheet – below rate is applied on ISINs held at Euroclear plus (in addition to standard 1 basis point charge.) Non Eurobond rate is calculated on any ISIN code listed below held at Euroclear at month end.
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Market | Non Eurobond ISIN code | Non Eurobond Rate ISINs held at EOC* |
ARGENTINA | AR | [...] |
AUSTRALIA | AU | [...] |
BELGIUM | BE | [...] |
CANADA | CA | [...] |
CHILE | CL | [...] |
CZECH REPUBLIC | CZ | [...] |
DENMARK | DK | [...] |
FINLAND | FI | [...] |
FRANCE | FR | [...] |
GERMANY | DE | [...] |
GREECE | GG | [...] |
HOLLAND | NL | [...] |
HONG KONG | HK | [...] |
HUNGARY | HU | [...] |
ISRAEL | IL | [...] |
ITALY | IT | [...] |
JAPAN | JP | [...] |
LUXEMBOURG | LU | [...] |
MEXICO | MX | [...] |
NEWZEALAND | NZ | [...] |
NORWAY | NO | [...] |
PERU | PE | [...] |
POLAND | PL | [...] |
PORTUGAL | PT | [...] |
ROMANIA | RO | [...] |
RUSSIA | RU | [...] |
SINGAPORE | SG | [...] |
SLOVAK REPUBLIC | SK | [...] |
SLOVENIA | SI | [...] |
SPAIN | ES | [...] |
SOUTH-AFRICA | ZA | [...] |
SWEDEN | SE | [...] |
SWITZERLAND | CH | [...] |
THAILAND | TH | [...] |
UNITED KINGDOM | GB | [...] |
UNITED STATES | US | [...] |