Urban Outfitters 2014 Annual Report Download - page 184

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The investment manager will, on at least an annual basis, provide Client with a copy of the then current SAS 70 Reports for Bank of America
Advisors, LLC, and the custody operations business unit of Bank of America, N.A. (including the report of the independent auditors or accountants). The
investment manager will promptly notify Client if the independent report of any such SAS 70 Report contains any qualifications.
In addition, the investment manager will maintain appropriate insurance coverages to protect the investment manager from loss of UO Fenwick, Inc.’s
assets held by the investment manager for any purpose or in any capacity or for which the investment manager is legally liable and will provide, as required,
memorandums of insurance detailing the amounts of these insurance coverages currently in place.