<SEC-DOCUMENT>0000919574-18-004321.txt : 20180620
<SEC-HEADER>0000919574-18-004321.hdr.sgml : 20180620
<ACCEPTANCE-DATETIME>20180620161616
ACCESSION NUMBER:		0000919574-18-004321
CONFORMED SUBMISSION TYPE:	40-17G
PUBLIC DOCUMENT COUNT:		6
FILED AS OF DATE:		20180620
DATE AS OF CHANGE:		20180620
EFFECTIVENESS DATE:		20180620

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB BOND FUND, INC.
		CENTRAL INDEX KEY:			0000003794
		IRS NUMBER:				132754393
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-02383
		FILM NUMBER:		18909558

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN BOND FUND INC
		DATE OF NAME CHANGE:	20030319

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE BOND FUND INC
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB RELATIVE VALUE FUND, INC.
		CENTRAL INDEX KEY:			0000029292
		IRS NUMBER:				136020888
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-00126
		FILM NUMBER:		18909546

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AB GROWTH & INCOME FUND INC
		DATE OF NAME CHANGE:	20150123

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN GROWTH & INCOME FUND INC
		DATE OF NAME CHANGE:	20030319

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE GROWTH & INCOME FUND INC
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB GLOBAL RISK ALLOCATION FUND, INC.
		CENTRAL INDEX KEY:			0000069752
		IRS NUMBER:				136020908
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-00134
		FILM NUMBER:		18909538

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN GLOBAL RISK ALLOCATION FUND, INC.
		DATE OF NAME CHANGE:	20121005

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN BALANCED SHARES INC
		DATE OF NAME CHANGE:	20030319

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE BALANCED SHARES INC/NJ
		DATE OF NAME CHANGE:	19990428

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB DISCOVERY GROWTH FUND, INC.
		CENTRAL INDEX KEY:			0000019614
		IRS NUMBER:				136021421
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-00204
		FILM NUMBER:		18909533

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN DISCOVERY GROWTH FUND, INC.
		DATE OF NAME CHANGE:	20121031

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN SMALL MID CAP GROWTH FUND
		DATE OF NAME CHANGE:	20081103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN MID CAP GROWTH FUND INC
		DATE OF NAME CHANGE:	20030319

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB CAP FUND, INC.
		CENTRAL INDEX KEY:			0000081443
		IRS NUMBER:				132625045
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-01716
		FILM NUMBER:		18909529

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN CAP FUND, INC.
		DATE OF NAME CHANGE:	20110524

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN CAP FUND,INC
		DATE OF NAME CHANGE:	20040908

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN SMALL CAP GROWTH FUND INC
		DATE OF NAME CHANGE:	19931001

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB SUSTAINABLE GLOBAL THEMATIC FUND, INC.
		CENTRAL INDEX KEY:			0000350181
		IRS NUMBER:				133056623
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-03131
		FILM NUMBER:		18909547

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AB GLOBAL THEMATIC GROWTH FUND, INC.
		DATE OF NAME CHANGE:	20150123

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN GLOBAL THEMATIC GROWTH FUND, INC.
		DATE OF NAME CHANGE:	20081103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN GLOBAL TECHNOLOGY FUND INC
		DATE OF NAME CHANGE:	20041215

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB MUNICIPAL INCOME FUND, INC.
		CENTRAL INDEX KEY:			0000798737
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04791
		FILM NUMBER:		18909543

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN MUNICIPAL INCOME FUND INC
		DATE OF NAME CHANGE:	20030319

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE MUNICIPAL INCOME FUND INC/NY/
		DATE OF NAME CHANGE:	20010629

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE MUNICIPAL INCOME FUND INC/NY
		DATE OF NAME CHANGE:	20010629

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB PORTFOLIOS
		CENTRAL INDEX KEY:			0000812015
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05088
		FILM NUMBER:		18909545

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN PORTFOLIOS
		DATE OF NAME CHANGE:	20030319

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE PORTFOLIOS
		DATE OF NAME CHANGE:	19930812

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EQUITABLE FUNDS
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB VARIABLE PRODUCTS SERIES FUND, INC.
		CENTRAL INDEX KEY:			0000825316
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05398
		FILM NUMBER:		18909550

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN VARIABLE PRODUCTS SERIES FUND INC
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BERNSTEIN SANFORD C FUND INC
		CENTRAL INDEX KEY:			0000832808
		IRS NUMBER:				133464161
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05555
		FILM NUMBER:		18909556

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10153

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB FIXED INCOME SHARES INC
		CENTRAL INDEX KEY:			0000862021
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-06068
		FILM NUMBER:		18909535

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN FIXED INCOME SHARES INC
		DATE OF NAME CHANGE:	20060417

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN INSTITUTIONAL RESERVES INC
		DATE OF NAME CHANGE:	20030319

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE INSTITUTIONAL RESERVES INC
		DATE OF NAME CHANGE:	19980716

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB GLOBAL BOND FUND, INC.
		CENTRAL INDEX KEY:			0000883676
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-06554
		FILM NUMBER:		18909536

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS 31ST FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN GLOBAL BOND FUND INC
		DATE OF NAME CHANGE:	20071105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN GLOBAL GOVERNMENT INCOME TRUST INC
		DATE OF NAME CHANGE:	20060201

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN AMERICAS GOVERNMENT INCOME TRUST INC
		DATE OF NAME CHANGE:	20030319

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB LARGE CAP GROWTH FUND INC
		CENTRAL INDEX KEY:			0000889508
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-06730
		FILM NUMBER:		18909542

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN  LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN LARGE CAP GROWTH FUND INC
		DATE OF NAME CHANGE:	20041215

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN PREMIER GROWTH FUND INC
		DATE OF NAME CHANGE:	20030319

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE PREMIER GROWTH FUND INC /
		DATE OF NAME CHANGE:	19981112

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB UNCONSTRAINED BOND FUND, INC.
		CENTRAL INDEX KEY:			0001002718
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07391
		FILM NUMBER:		18909549

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129692124

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN UNCONSTRAINED BOND FUND, INC.
		DATE OF NAME CHANGE:	20110204

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN DIVERSIFIED YIELD FUND INC
		DATE OF NAME CHANGE:	20071105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN GLOBAL STRATEGIC INCOME TRUST INC
		DATE OF NAME CHANGE:	20030319

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB MUNICIPAL INCOME FUND II
		CENTRAL INDEX KEY:			0000899774
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07618
		FILM NUMBER:		18909544

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN MUNICIPAL INCOME FUND II
		DATE OF NAME CHANGE:	20030319

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE MUNICIPAL INCOME FUND II
		DATE OF NAME CHANGE:	19930714

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB GLOBAL REAL ESTATE INVESTMENT FUND INC
		CENTRAL INDEX KEY:			0001018368
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07707
		FILM NUMBER:		18909537

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129692124

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN GLOBAL REAL ESTATE INVESTMENT FUND INC
		DATE OF NAME CHANGE:	20070302

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN REAL ESTATE INVESTMENT FUND INC /
		DATE OF NAME CHANGE:	19981112

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE REAL ESTATE INVESTMENT INSTITUTIONAL FUND
		DATE OF NAME CHANGE:	19981019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALLIANCEBERNSTEIN GLOBAL HIGH INCOME FUND INC
		CENTRAL INDEX KEY:			0000906013
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07732
		FILM NUMBER:		18909554

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE WORLD DOLLAR GOVERNMENT FUND II INC
		DATE OF NAME CHANGE:	19930714

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB EQUITY INCOME FUND INC
		CENTRAL INDEX KEY:			0000910036
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07916
		FILM NUMBER:		18909534

	BUSINESS ADDRESS:	
		STREET 1:		135 W 50TH STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2013194105

	MAIL ADDRESS:	
		STREET 1:		ALLIANCE CAPITAL MANAGEMENT LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN EQUITY INCOME FUND INC
		DATE OF NAME CHANGE:	20100901

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN UTILITY INCOME FUND INC
		DATE OF NAME CHANGE:	20080409

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN  UTILITY INCOME FUND INC
		DATE OF NAME CHANGE:	19930730

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB HIGH INCOME FUND INC
		CENTRAL INDEX KEY:			0000915845
		IRS NUMBER:				133747683
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-08188
		FILM NUMBER:		18909541

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN HIGH INCOME FUND INC
		DATE OF NAME CHANGE:	20080130

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN EMERGING MARKET DEBT FUND INC
		DATE OF NAME CHANGE:	20030319

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE EMERGING MARKET DEBT FUND INC
		DATE OF NAME CHANGE:	19931207

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB INSTITUTIONAL FUNDS INC
		CENTRAL INDEX KEY:			0001018592
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-08403
		FILM NUMBER:		18909539

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OFTHE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN INSTITUTIONAL FUNDS INC
		DATE OF NAME CHANGE:	20030319

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE INSTITUTIONAL FUNDS INC
		DATE OF NAME CHANGE:	19970930

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE INSTITUTIONAL FUNDS
		DATE OF NAME CHANGE:	19960711

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB SUSTAINABLE INTERNATIONAL THEMATIC FUND INC
		CENTRAL INDEX KEY:			0000920701
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-08426
		FILM NUMBER:		18909540

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AB SUSTAINABLE INTERNATIONALTHEMATIC FUND, INC.
		DATE OF NAME CHANGE:	20180108

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AB INTERNATIONAL GROWTH FUND INC
		DATE OF NAME CHANGE:	20150123

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN INTERNATIONAL GROWTH FUND INC
		DATE OF NAME CHANGE:	20050516

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB CORE OPPORTUNITIES FUND, INC.
		CENTRAL INDEX KEY:			0001090504
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-09687
		FILM NUMBER:		18909531

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129692124

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN CORE OPPORTUNITIES FUND, INC.
		DATE OF NAME CHANGE:	20100301

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN FOCUSED GROWTH & INCOME FUND INC
		DATE OF NAME CHANGE:	20041215

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN DISCIPLINED VALUE FUND INC
		DATE OF NAME CHANGE:	19990714

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB TRUST
		CENTRAL INDEX KEY:			0001129870
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-10221
		FILM NUMBER:		18909548

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN TRUST
		DATE OF NAME CHANGE:	20001214

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN VALUE TRUST
		DATE OF NAME CHANGE:	20001212

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALLIANCEBERNSTEIN NATIONAL MUNICIPAL INCOME FUND
		CENTRAL INDEX KEY:			0001162027
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-10573
		FILM NUMBER:		18909553

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129692124

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCE NATIONAL MUNICIPAL INCOME FUND
		DATE OF NAME CHANGE:	20011108

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALLIANCE CALIFORNIA MUNICIPAL INCOME FUND
		CENTRAL INDEX KEY:			0001162028
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-10575
		FILM NUMBER:		18909552

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129692124

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BERNSTEIN SANFORD C FUND II INC
		CENTRAL INDEX KEY:			0001166729
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21034
		FILM NUMBER:		18909557

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB CORPORATE SHARES
		CENTRAL INDEX KEY:			0001274676
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21497
		FILM NUMBER:		18909532

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALLIANCEBERNSTEIN CORPORATE SHARES
		DATE OF NAME CHANGE:	20031230

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AB Multi-Manager Alternative Fund
		CENTRAL INDEX KEY:			0001543188
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-22671
		FILM NUMBER:		18909551

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		2129691000

	MAIL ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AllianceBernstein Multi-Manager Alternative Fund
		DATE OF NAME CHANGE:	20120224

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Bernstein Fund Inc
		CENTRAL INDEX KEY:			0001653463
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		40-17G
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-23100
		FILM NUMBER:		18909555

	BUSINESS ADDRESS:	
		STREET 1:		ALLIANCEBERNSTEIN LP
		STREET 2:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
		BUSINESS PHONE:		212-969-10000

	MAIL ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
</SEC-HEADER>
<DOCUMENT>
<TYPE>40-17G
<SEQUENCE>1
<FILENAME>d7907522_40-17g.htm
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">ALLIANCEBERNSTEIN L.P.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">1345 Avenue of the Americas</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">New York, NY 10105</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">212-969-1000</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in">June 20, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>VIA EDGAR</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">100 F Street, N.E.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif">Re:</TD>
    <TD STYLE="width: 54%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Filing Pursuant to Rule 17g-1 under the Investment Company</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Act of 1940 with Respect to Registered Investment</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Companies Managed by AllianceBernstein L.P.</P></TD>
    <TD STYLE="width: 23%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">Dear Sirs:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">Enclosed, on behalf of each of the registered
investment companies (the &#8220;Funds&#8221;) managed by AllianceBernstein L.P. (see Schedule A, attached hereto), and pursuant
to Rule 17g-1 under the Investment Company Act of 1940, as amended, are copies of the following documents:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Investment Company Blanket Bond (the &#8220;Bond&#8221;) for the period May 15, 2018 to May 15, 2019, on which AllianceBernstein
L.P. and the Funds are the named insureds (Exhibit A);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Joint Fidelity Bond Agreement entered into by AllianceBernstein L.P. and the Funds (Exhibit B); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
resolutions of the Boards of Directors or Trustees of the Funds, including a majority of the Directors or Trustees who are not
interested persons of the Funds, approving the amount, type, form and coverage of the Bond (Exhibits C-1, C-2 and C-3).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">The premium in connection with the Bond
has been paid in full.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Sincerely,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 37%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 8%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">/s/ David Lesser</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">David Lesser</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Senior Vice President, Counsel and</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Corporate Secretary</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Enclosures</P>


<!-- Field: Page; Sequence: 1 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>SCHEDULE A</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 86%; border: Black 1pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">Name of Fund</FONT></TD>
    <TD STYLE="width: 14%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: center"><FONT STYLE="font-size: 10pt">File No.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">AB BOND FUND, INC.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-02383</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">AB CAP FUND, INC.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-01716</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">AB CORE OPPORTUNITIES FUND, INC.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-09687</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">AB CORPORATE SHARES</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-21497</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">AB DISCOVERY GROWTH FUND, INC.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-00204</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">AB EQUITY INCOME FUND, INC.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-07916</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">AB FIXED-INCOME SHARES, INC.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-06068</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">AB GLOBAL BOND FUND, INC.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-06554</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">AB GLOBAL REAL ESTATE INVESTMENT FUND, INC.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-07707</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">AB GLOBAL RISK ALLOCATION FUND, INC.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-00134</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">AB HIGH INCOME FUND, INC.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-08188</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">AB INSTITUTIONAL FUNDS, INC.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-08403</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">AB LARGE CAP GROWTH FUND, INC.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-06730</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">AB MULTI-MANAGER ALTERNATIVE FUND</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-22671</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">AB MUNICIPAL INCOME FUND, INC.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-04791</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">AB MUNICIPAL INCOME FUND II</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-07618</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">AB RELATIVE VALUE FUND, INC.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-00126</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">AB SUSTAINABLE GLOBAL THEMATIC FUND, INC.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-03131</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">AB SUSTAINABLE INTERNATIONAL THEMATIC &nbsp;FUND, INC.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-08426</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">AB TRUST</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-10221</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">AB UNCONSTRAINED BOND FUND, INC.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-07391</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">AB VARIABLE PRODUCTS SERIES FUND, INC.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-05398</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">ALLIANCE CALIFORNIA MUNICIPAL INCOME FUND, INC.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-10575</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">ALLIANCEBERNSTEIN GLOBAL HIGH INCOME FUND, INC.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-07732</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">ALLIANCEBERNSTEIN NATIONAL MUNICIPAL INCOME FUND, INC.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-10573</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">BERNSTEIN FUND, INC.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-23100</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">SANFORD C. BERNSTEIN FUND, INC.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-05555</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">SANFORD C. BERNSTEIN FUND II, INC.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-21034</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">THE AB PORTFOLIOS</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">811-05088</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt/10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Exhibit A</P>

<P STYLE="font: 10pt/10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10.5pt/13.15pt Verdana, Helvetica, Sans-Serif; margin: 0.35pt 0 15.7pt; text-align: center">POLICYHOLDER NOTICE</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify">Thank you for purchasing insurance
from a member company of American International Group, Inc. (AIG). The AIG member companies generally pay compensation to brokers
and independent agents, and may have paid compensation in connection with your policy. You can review and obtain information about
the nature and range of compensation paid by AIG member companies to brokers and independent agents in the United States by visiting
our website at <FONT STYLE="color: blue"><U>www.aig.com/producer-compensation or by calling 1-800-706-3102</U></FONT>.</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0.9pt 0 0; text-align: center"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px"></P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify">91222 (9/16)</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt/12.35pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10.5pt/13.1pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10.5pt/13.1pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10.5pt/13.1pt Verdana, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>National Union Fire Insurance Company
of Pittsburgh, Pa.</B></P>

<P STYLE="font: 7.5pt/9.6pt Verdana, Helvetica, Sans-Serif; margin: 0.45pt 0 10.3pt 4.85in; text-align: right">A capital stock
company</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 46%; border-top: Black 1pt solid; font: 10.5pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">POLICY NUMBER: 01-421-20-69</FONT></TD>
    <TD STYLE="width: 54%; border-top: Black 1pt solid; font: 10.5pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">REPLACEMENT OF POLICY NUMBER: 01-423-00-66</FONT></TD></TR>
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<P STYLE="font: 10.5pt/13.25pt Verdana, Helvetica, Sans-Serif; margin: 27.2pt 0 0; text-align: center"><B>INVESTMENT COMPANY BLANKET
BOND<BR>
<BR>
DECLARATIONS</B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10.5pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">ITEM 1.</FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">Name of Insured (herein called Insured):</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">AllianceBernstein Complex of Registered Investment Companies</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">Principal Address:</FONT></TD>
    <TD STYLE="width: 69%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">1345 AVENUE OF THE AMERICAS</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">NEW YORK,NY 10105</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">ITEM 2.</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">Bond Period: from 12:01 a.m. 05/15/2018 to 05/15/2019 the effective date of the termination or cancellation of this bond, standard time at the Principal Address as to each of said dates.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">ITEM 3.</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">Limit of Liability - Subject to Sections 9, 10 and12 hereof,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10.5pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 67%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 17%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">Single Loss </FONT><BR>
<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">Limit of Liability</FONT></TD>
    <TD STYLE="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">Single Loss </FONT><BR>
<FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">Deductible</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">Insuring Agreement (A) Fidelity</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">$50,000,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">$100,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">Insuring Agreement (B) Audit Expense</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">$50,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">$10,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">Insuring Agreement (C) On Premises</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">$50,000,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">$100,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">Insuring Agreement (D) In Transit</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">$50,000,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">$100,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">Insuring Agreement (E) Securities</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">$50,000,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">$100,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">Insuring Agreement (G) Counterfeit Currency</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">$50,000,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">$100,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">Insuring Agreement (H) Stop Payment</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">$25,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">$5,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">Insuring Agreement (I) Uncollectible Items of Deposit</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">$25,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">$5,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">Additional Coverages:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">Insuring Agreement (J) Computer Systems</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">$50,000,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">$100,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">Insuring Agreement (K) Telefacimile Transfer Fraud</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">$50,000,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">$100,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">Insuring Agreement (L) Automated Phone Systems</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">$50,000,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">$100,000</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">If &quot;Not Covered&quot; is inserted
above opposite any specified Insuring Agreement or Coverage, such Insuring Agreement or Coverage and any other reference thereto
in this bond shall be deemed to be deleted therefrom.</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify"></P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin-top: 0.9pt; margin-bottom: 0; text-align: center">&nbsp;<IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px"></P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin-top: 0.9pt; margin-bottom: 0; text-align: center">&copy; All rights reserved.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0.9pt 0 0; text-align: center"></P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify"></P>



<!-- Field: Page; Sequence: 4; Options: NewSection -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10.5pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 91%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">ITEM 4.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">Offices or Premises Covered-Offices acquired or established subsequent to the effective date of this bond are covered according to the terms of General Agreement A. All the Insureds offices or premises in existence at the time this bond becomes effective are covered under this bond except the offices or premises located as follows: <B>No Exceptions</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">ITEM 5.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">The liability of the Underwriter is subject to the terms of the following riders attached thereto: : Endorsement #1, #2, #3, #4, #5, #6, #7, #8, #9, #10, #11, #12, #13, #14, #15,#16, #17, #18, #19.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">ITEM 6.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">The Insured by the acceptance of this bond gives to the Underwriter terminating or canceling prior bond(s) or policy(ies) No.(s) 01-393-42-36 such termination or cancellation to be effective as of the time this bond becomes effective.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">PREMIUM:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">$62,000 part of $155,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt/11.6pt Verdana, Helvetica, Sans-Serif; margin: 1.5pt 0.55in 10.3pt 0.75in; text-indent: -0.75in">&nbsp;</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0.9pt 0 0; text-align: center"></P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin-top: 0.9pt; margin-bottom: 0; text-align: center">&nbsp;<IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px"></P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin-top: 0.9pt; margin-bottom: 0; text-align: center">&copy; All rights reserved.</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify"><B>IN WITNESS WHEREOF, </B>the Insurer
has caused this Policy to be signed by its President, Secretary and Authorized Representative. This Policy shall not be valid unless
signed below at the time of issuance by an authorized representative of the insurer.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10.5pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify"><IMG SRC="image_003.jpg" ALT="" STYLE="height: 81px; width: 217px"></TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 48%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify"><IMG SRC="image_004.jpg" ALT="" STYLE="height: 67px; width: 183px"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: center">PRESIDENT</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: center">SECRETARY</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt"><B>N<FONT STYLE="letter-spacing: 0.5pt">ation</FONT><FONT STYLE="letter-spacing: 0.25pt">al Un</FONT><FONT STYLE="letter-spacing: 0.5pt">ion </FONT><FONT STYLE="letter-spacing: 0.3pt">Fire Ins</FONT>u<FONT STYLE="letter-spacing: 0.35pt">ran</FONT><FONT STYLE="letter-spacing: 0.1pt">ce Co</FONT>mp<FONT STYLE="letter-spacing: 0.25pt">an</FONT>y of <FONT STYLE="letter-spacing: 0.5pt">Pittsb</FONT>u<FONT STYLE="letter-spacing: 0.5pt">rgh</FONT>, <FONT STYLE="letter-spacing: 0.25pt">Pa.</FONT></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt"><B>N<FONT STYLE="letter-spacing: 0.5pt">ation</FONT><FONT STYLE="letter-spacing: 0.25pt">al Un</FONT><FONT STYLE="letter-spacing: 0.5pt">ion </FONT><FONT STYLE="letter-spacing: 0.3pt">Fire Ins</FONT>u<FONT STYLE="letter-spacing: 0.35pt">ran</FONT><FONT STYLE="letter-spacing: 0.1pt">ce Co</FONT>mp<FONT STYLE="letter-spacing: 0.25pt">an</FONT>y of <FONT STYLE="letter-spacing: 0.5pt">Pittsb</FONT>u<FONT STYLE="letter-spacing: 0.5pt">rgh</FONT>, <FONT STYLE="letter-spacing: 0.25pt">Pa.</FONT></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10.5pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 39%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: center"><IMG SRC="image_005.jpg" ALT="" STYLE="height: 73px; width: 147px"></TD>
    <TD STYLE="width: 30%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: center"><B>AUTHORIZED REPRESENTATIVE</B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10.5pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 39%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 25%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 31%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="letter-spacing: -0.15pt"><B>COUNTERSIGNED </B></FONT><B>AT</B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Univers ATT,sans-serif"><B>DATE</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Univers ATT,sans-serif"><B>COUNTERSIGNATURE</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Courier New, Courier, Monospace"><I>AON
RISK SERVICES NORTHEAST INC</I></FONT></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Courier New, Courier, Monospace"><I>199
WATER ST</I></FONT></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Courier New, Courier, Monospace"><I>NEW
YORK, NY 10038-3526</I></FONT></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Courier New, Courier, Monospace"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 20pt"><FONT STYLE="font-family: Courier New, Courier, Monospace"><I>7291382</I></FONT></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Courier New, Courier, Monospace"><I></I></FONT></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Courier New, Courier, Monospace"><I></I></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10.5pt Courier New, Courier, Monospace; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 17%; text-align: left; vertical-align: bottom"><P STYLE="margin-top: 0; margin-bottom: 0"><B><I>1-14180</I></B></P>
                           <P STYLE="margin-top: 0; margin-bottom: 0">MNSCPT</P></TD>
    <TD STYLE="width: 76%">&nbsp;<IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px"></TD>
    <TD STYLE="width: 7%">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Courier New, Courier, Monospace"><I></I></FONT></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center">&copy; All rights reserved.</P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify"></P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0.9pt 0 0; text-align: justify"></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0.9pt 0 0; text-align: center"></P>




<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 92.65pt 0.55pt 4.3pt"></P>


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<P STYLE="font: 10.5pt/12.4pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.25in; text-align: justify"></P>

<P STYLE="font: bold 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">INVESTMENT COMPANY BLANKET BOND</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Underwriter, in consideration
of an agreed premium, and subject to the Declarations made a part hereof, the General Agreements, Conditions and Limitations and
other terms of this bond, agrees with the Insured, in accordance with the Insuring Agreements hereof to which an amount of insurance
is applicable as set forth in Item 3 of the Declarations and with respect to loss sustained by the Insured at any time but discovered
during the Bond Period, to indemnify and hold harmless the Insured for:</P>

<P STYLE="font: bold 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">INSURING AGREEMENTS</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(A) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FIDELITY</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Loss resulting
from any dishonest or fraudulent act(s), including Larceny or Embezzlement committed by an Employee, committed anywhere and whether
committed alone or in collusion with others, including loss of Property resulting from such acts of an Employee, which Property
is held by the Insured for any purpose or in any capacity and whether so held gratuitously or not and whether or not the Insured
is liable therefor.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Dishonest or fraudulent
act(s) as used in this Insuring Agreement shall mean only dishonest or fraudulent act(s) committed by such Employee with the manifest
intent:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">to cause the Insured to sustain such loss; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">to obtain financial benefit for the Employee, or for any other person or organization intended
by the Employee to receive such benefit, other than salaries, commissions, fees, bonuses, promotions, awards, profit sharing, pensions
or other employee benefits earned in the normal course of employment.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AUDIT
EXPENSE</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Expense incurred
by the Insured for that part of the costs of audits or examinations required by any governmental regulatory authority to be conducted
either by such authority or by an independent accountant by reason of the discovery of loss sustained by the Insured through any
dishonest or fraudulent act(s), including Larceny or Embezzlement of any of the Employees. The total liability of the Underwriter
for such expense by reason of such acts of any Employee or in which such Employee is concerned or implicated or with respect to
any one audit or examination is limited to the amount stated opposite Audit Expense in Item 3 of the Declarations; it being understood,
however, that such expense shall be deemed to be a loss sustained by the Insured through any dishonest or fraudulent act(s), including
Larceny or Embezzlement of one or more of the Employees and the liability under this paragraph shall be in addition to the Limit
of liability stated in Insuring Agreement (A) in Item 3 of the Declarations.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(C)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ON
PREMISES</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Loss of Property
(occurring with or without negligence or violence) through robbery, burglary, Larceny, theft, holdup, or other fraudulent means,
misplacement, mysterious unexplainable disappearance, damage thereto or destruction thereof, abstraction or removal from the possession,
custody or control of the Insured, and loss of subscription, conversion, redemption or deposit privileges through the misplacement
or loss of Property, while the Property is (or is supposed or believed by the Insured to be) lodged or deposited within any offices
or premises located anywhere, except in an office listed in Item 4 of the Declarations or amendment thereof or in the mail or with
a carrier for hire other than an armored motor vehicle company, for the purpose of transportation.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-weight: normal">Offices
and Equipment</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">Loss of or damage to, furnishings, fixtures, stationery, supplies or equipment, within any of the
Insured's offices covered under this bond caused by Larceny or theft in, or by burglary, robbery or holdup of such office, or attempt
thereat, or by vandalism or malicious mischief; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">loss through damage to any such office by Larceny or theft in, or by burglary, robbery or holdup
of such office or attempt thereat, or to the interior of any such office by vandalism or malicious mischief provided, in any event,
that the Insured is the owner of such offices, furnishings, fixtures, stationery, supplies or equipment or is</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px"></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center">&copy; All rights reserved.</P>


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<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">legally liable for such loss or
damage, always excepting, however, all loss or damage through fire.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(D)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN
TRANSIT</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Loss of Property
(occurring with or without negligence or violence) through robbery, Larceny, theft, holdup, misplacement, mysterious unexplainable
disappearance, being lost or otherwise made away with, damage thereto or destruction thereof, and loss of subscription, conversion,
redemption or deposit privileges through the misplacement or loss of Property, while the Property is in transit anywhere in the
custody of any person or persons acting as messenger, except while in the mail or with a carrier for hire, other than an armored
motor vehicle company, for the purpose of transportation, such transit to begin immediately upon receipt of such Property by the
transporting person or persons, and to end immediately upon delivery thereof at destination.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(E)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FORGERY
OR ALTERATION</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Loss through FORGERY
or ALTERATION of, on or in any bills of exchange, checks, drafts, acceptances, certificates of deposit. promissory notes, or other
written promises, orders or directions to pay sums certain in money, due bills, money orders, warrants, orders upon public treasuries,
letters of credit, written instructions, advices or applications directed to the Insured, authorizing or acknowledging the transfer,
payment, delivery or receipt of funds or Property, which instructions or advices or applications purport to have been signed or
endorsed by any customer of the Insured, shareholder or subscriber to shares, whether certificated or uncertificated, of any Investment
Company or by any financial or banking institution or stockbroker but which instructions, advices or applications either bear the
forged signature or endorsement or have been altered without the knowledge and consent of such customer, shareholder or subscriber
to shares, whether certificated or uncertificated, of an Investment Company, financial or banking institution or stockbroker, withdrawal
orders or receipts for the withdrawal of funds or Property, or receipts or certificates of deposit for Property and bearing the
name of the Insured as issuer, or of another Investment Company for which the Insured acts as agent, excluding, however, any loss
covered under Insuring Agreement (F) hereof whether or not coverage for Insuring Agreement (F) is provided for in the Declarations
of this bond.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Any check or draft
(a) made payable to a fictitious payee and endorsed in the name of such fictitious payee or (b) procured in a transaction with
the maker or drawer thereof or with one acting as an agent of such maker or drawer or anyone impersonating another and made or
drawn payable to the one so impersonated and endorsed by anyone other than the one impersonated, shall be deemed to be forged as
to such endorsement.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Mechanically reproduced
facsimile signatures are treated the same as handwritten signatures.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(F)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECURITIES</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Loss sustained
by the Insured, including loss sustained by reason of a violation of the constitution, by-laws, rules or regulations of any Self
Regulatory Organization of which the Insured is a member or which would have been imposed upon the Insured by the constitution,
by-laws, rules or regulations of any Self Regulatory Organization if the Insured had been a member thereof,</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">through the Insured's having, in good faith and in the course of business, whether for its own
account or for the account of others, in any representative, fiduciary, agency or any other capacity, either gratuitously or otherwise,
purchased or otherwise acquired, accepted or received, or sold or delivered, or given any value, extended any credit or assumed
any liability, on the faith of, or otherwise acted upon, any securities, documents or other written instruments which prove to
have been</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">counterfeited, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">forged as to the signature of any maker, drawer, issuer, endorser, assignor, lessee, transfer agent
or registrar, acceptor, surety or guarantor or as to the signature of any person signing in any other capacity, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">raised or otherwise altered, or lost, or stolen, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">through the Insured's having, in good faith and in the course of business, guaranteed in writing
or witnessed any signatures whether for valuable consideration or not and whether or not such guaranteeing or</TD></TR></TABLE>

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<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">witnessing is ultra vires the
Insured, upon any transfers, assignments, bills of sale, powers of attorney, guarantees, endorsements or other obligations upon
or in connection with any securities, documents or other written instruments and which pass or purport to pass title to such securities,
documents or other written instruments; EXCLUDING, losses caused by FORGERY or ALTERATION of, on or in those instruments covered
under Insuring Agreement (E) hereof.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">Securities, documents or other
written instruments shall be deemed to mean original (including original counterparts) negotiable or non-negotiable agreements
which in and of themselves represent an equitable interest, ownership, or debt, including an assignment thereof which instruments
are in the ordinary course of business, transferable by delivery of such agreements with any necessary endorsement or assignment.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">The word &quot;counterfeited&quot;
as used in this Insuring Agreement shall be deemed to mean any security, document or other written instrument which is intended
to deceive and to be taken for an original.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">Mechanically produced facsimile
signatures are treated the same as handwritten signatures.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(G)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;COUNTERFEIT
CURRENCY</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Loss through the
receipt by the Insured, in good faith, of any counterfeited money orders or altered paper currencies or coin of the United States
of America or Canada issued or purporting to have been issued by the United States of America or Canada or issued pursuant to a
United States of America or Canadian statute for use as currency.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(H)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;STOP
PAYMENT</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Loss against any
and all sums which the Insured shall become obligated to pay by reason of the Liability imposed upon the Insured by law for damages:</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">For having either complied with
or failed to comply with any written notice of any customer, shareholder or subscriber of the Insured or any Authorized Representative
of such customer, shareholder or subscriber to stop payment of any check or draft made or drawn by such customer, shareholder or
subscriber or any Authorized Representative of such customer, shareholder or subscriber, or</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">For having refused to pay any
check or draft made or drawn by any customer, shareholder or subscriber of the Insured or any Authorized Representative of such
customer, shareholder or subscriber.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(I)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UNCOLLECTIBLE
ITEMS OF DEPOSIT</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Loss resulting
from payments of dividends or fund shares, or withdrawals permitted from any customer's, shareholder's or subscriber's account
based upon Uncollectible Items of Deposit of a customer, shareholder or subscriber credited by the Insured or the Insured's agent
to such customer's, shareholder's or subscriber's Mutual Fund Account; or</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Loss resulting
from any Item of Deposit processed through an Automated Clearing House which is reversed by the customer, shareholder or subscriber
and deemed uncollectible by the Insured.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Loss includes
dividends and interest accrued not to exceed 15% of the Uncollectible Items which are deposited.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This Insuring
Agreement applies to all Mutual Funds with &quot;exchange privileges&quot; if all Fund(s) in the exchange program are insured by
a National Union Fire Insurance Company of Pittsburgh, PA for Uncollectible Items of Deposit. Regardless of the number of transactions
between Fund(s), the minimum number of days of deposit within the Fund(s) before withdrawal as declared in the Fund(s) prospectus
shall begin from the date a deposit was first credited to any Insured Fund(s).</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; text-align: center"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>


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<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">GENERAL AGREEMENTS</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">A.</TD><TD STYLE="text-align: justify">ADDITIONAL OFFICES OR EMPLOYEES-CONSOLIDATION OR MERGER-NOTICE</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">If the Insured shall, while this bond is in force, establish any additional office or offices,
such office or offices shall be automatically covered hereunder from the dates of their establishment, respectively. No notice
to the Underwriter of an increase during any premium period in the number of offices or in the number of Employees at any of the
offices covered hereunder need be given and no additional premium need be paid for the remainder of such premium period.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">If an Investment Company, named as Insured herein, shall, while this bond is in force, merge or
consolidate with, or purchase the assets of another institution, coverage for such acquisition shall apply automatically from the
date of acquisition. The Insured shall notify the Underwriter of such acquisition within 60 days of said date, and an additional
premium shall be computed only if such acquisition involves additional offices or employees.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WARRANTY</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">No statement made
by or on behalf of the Insured, whether contained in the application or otherwise, shall be deemed to be a warranty of anything
except that it is true to the best of the knowledge and belief of the person making the statement.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;COURT
COSTS AND ATTORNEYS' FEES</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0in">(Applicable
to all Insuring Agreements or Coverages now or hereafter forming part of this bond)</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Underwriter
will indemnify the Insured against court costs and reasonable attorneys' fees incurred and paid by the Insured in defense, whether
or not successful, whether or not fully litigated on the merits and whether or not settled of any suit or legal proceeding brought
against the Insured to enforce the Insured's liability or alleged liability on account of any loss, claim or damage which, if established
against the Insured, would constitute a loss sustained by the Insured covered under the terms of this bond provided, however, that
with respect to Insuring Agreement (A) this indemnity shall apply only in the event that</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">an Employee admits to being guilty of any dishonest or fraudulent act(s), including Larceny or
Embezzlement; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">an Employee is adjudicated to be guilty of any dishonest or fraudulent act(s), including Larceny
or Embezzlement;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">in the absence of (1) or (2) above an arbitration panel agrees, after a review of an agreed statement
of facts, that an Employee would be found guilty of dishonesty if such Employee were prosecuted.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Insured shall
promptly give notice to the Underwriter of any such suit or legal proceeding and at the request of the Underwriter shall furnish
it with copies of all pleadings and other papers therein. At the Underwriter's election the Insured shall permit the Underwriter
to conduct the defense of such suit or legal proceeding, in the Insured's name, through attorneys of the Underwriter's selection.
In such event, the Insured shall give all reasonable information and assistance which the Underwriter shall deem necessary to the
proper defense of such suit or legal proceeding.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">If the amount
of the Insured's liability or alleged liability is greater than the amount recoverable under this bond, or if a Deductible Amount
is applicable, or both, the liability of the Underwriter under this General Agreement is limited to the proportion of court costs
and attorneys' fees incurred and paid by the Insured or by the Underwriter that the amount recoverable under this bond bears to
the total of such amount plus the amount which is not so recoverable. Such indemnity shall be in addition to the Limit of Liability
for the applicable Insuring Agreement or Coverage.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FORMER
EMPLOYEE</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Acts of an Employee,
as defined in this bond, are covered under Insuring Agreement (A) only while the Employee is in the Insured's employ. Should loss
involving a former Employee of the Insured be discovered subsequent to the termination of employment, coverage would still apply
under Insuring Agreement (A) if the direct proximate cause of the loss occurred while the former Employee performed duties within
the scope of his/her employment.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; text-align: center"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>


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<P STYLE="font: bold 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">THE FOREGOING INSURING AGREEMENTS
AND <BR>
GENERAL AGREEMENTS ARE SUBJECT TO <BR>
THE FOLLOWING CONDITIONS <BR>
AND LIMITATIONS:</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">SECTION 1.&#9;DEFINITIONS</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The following
terms, as used in this bond, shall have the respective meanings stated in this Section:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">&quot;Employee&quot; means:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">any of the Insured's officers, partners, or employees, and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">any of the officers or employees of any predecessor of the Insured whose principal assets are acquired
by the Insured by consolidation or merger with, or purchase of assets or capital stock of such predecessor, and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">attorneys retained by the Insured to perform legal services for the Insured and the employees of
such attorneys while such attorneys or the employees of such attorneys are performing such services for the Insured, and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(4)</TD><TD STYLE="text-align: justify">guest students pursuing their studies or duties in any of the Insured's offices, and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(5)</TD><TD STYLE="text-align: justify">directors or trustees of the Insured, the investment advisor, underwriter (distributor), transfer
agent, or shareholder accounting record keeper, or administrator authorized by written agreement to keep financial and/or other
required records, but only while performing acts coming within the scope of the usual duties of an officer or employee or while
acting as a member of any committee duly elected or appointed to examine or audit or have custody of or access to the Property
of the Insured, and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(6)</TD><TD STYLE="text-align: justify">any individual or individuals assigned to perform the usual duties of an employee within the premises
of the Insured, by contract, or by any agency furnishing temporary personnel on a contingent or parttime basis, and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(7)</TD><TD STYLE="text-align: justify">each natural person, partnership or corporation authorized by written agreement with the Insured
to perform services as electronic data processor of checks or other accounting records of the Insured, but excluding any such processor
who acts as transfer agent or in any other agency capacity in issuing checks, drafts or securities for the Insured, unless included
under Sub- section (9) hereof, and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(8)</TD><TD STYLE="text-align: justify">those persons so designated in Section 15, Central Handling of Securities, and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(9)</TD><TD STYLE="text-align: justify">any officer, partner or Employee of</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">a)</TD><TD STYLE="text-align: justify">an investment advisor,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">b)</TD><TD STYLE="text-align: justify">an underwriter (distributor),</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">c)</TD><TD STYLE="text-align: justify">a transfer agent or shareholder accounting record-keeper, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">d)</TD><TD STYLE="text-align: justify">an administrator authorized by written agreement to keep financial and/or other required records,</TD></TR></TABLE>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify">for an Investment Company named
as Insured while performing acts coming within the scope of the usual duties of an officer or Employee of any Investment Company
named as Insured herein, or while acting as a member of any committee duly elected or appointed to examine or audit or have custody
of or access to the Property of any such Investment Company, provided that only Employees or partners of a transfer agent, shareholder
accounting record-keeper or administrator which is an affiliated person as defined in the Investment Company Act of 1940, of an
Investment Company named as Insured or is an affiliated person of the adviser, underwriter or administrator of such Investment
Company, and</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; text-align: center"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>


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<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify">which is not a bank, shall be
included within the definition of Employee.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-align: justify">Each employer of temporary personnel
or processors as set forth in Sub-Sections (6) and of Section 1(a) and their partners, officers and employees shall collectively
be deemed to be one person for all the purposes of this bond, excepting, however, the last paragraph of Section 13.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">Brokers, or other agents under
contract or representatives of the same general character shall not be considered Employees.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">&quot;Property&quot; means money (i.e.. currency, coin, bank notes, Federal Reserve notes), postage
and revenue stamps, U.S. Savings Stamps, bullion, precious metals of all kinds and in any form and articles made therefrom, jewelry,
watches, necklaces, bracelets, gems, precious and semi-precious stones, bonds, securities, evidences of debts, debentures, scrip,
certificates, interim receipts, warrants, rights, puts, calls, straddles, spreads, transfers, coupons, drafts, bills of exchange,
acceptances, notes, checks, withdrawal orders, money orders, warehouse receipts, bills of lading, conditional sales contracts,
abstracts of title, insurance policies, deeds, mortgages under real estate and/or chattels and upon interests therein, and assignments
of such policies, mortgages and instruments, and other valuable papers, including books of account and other records used by the
Insured in the conduct of its business, and all other instruments similar to or in the nature of the foregoing including Electronic
Representations of such instruments enumerated above (but excluding all data processing records) in which the Insured has an interest
or in which the Insured acquired or should have acquired an interest by reason of a predecessor's declared financial condition
at the time of the Insured's consolidation or merger with, or purchase of the principal assets of, such predecessor or which are
held by the Insured for any purpose or in any capacity and whether so held by the Insured for any purpose or in any capacity and
whether so held gratuitously or not and whether or not the Insured is liable therefor.</TD></TR></TABLE>




<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">&quot;Forgery&quot; means the signing of the name of another with intent to deceive; it does not
include the signing of one's own name with or without authority, in any capacity, for any purpose.</TD></TR>
</TABLE>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">&quot;Larceny and Embezzlement&quot; as it applies to any named Insured means those acts as set
forth in Section 37 of the Investment Company Act of 1940.</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">&quot;Items
of Deposit&quot; means any one or more checks and drafts. Items of Deposit shall not be deemed uncollectible until the Insured's
collection procedures have failed.</TD></TR>
</TABLE>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">SECTION 2. &#9;EXCLUSIONS</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">THIS BOND DOES NOT COVER:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">loss effected directly or indirectly by means of forgery or alteration of, on or in any instrument,
except when covered by Insuring Agreement (A), (E), (F) or (G).</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">loss due to riot or civil commotion outside the United States of America and Canada; or loss due
to military, naval or usurped power, war or insurrection unless such loss occurs in transit in the circumstances recited in Insuring
Agreement (D), and unless, when such transit was initiated, there was no knowledge of such riot, civil commotion, military, naval
or usurped power, war or insurrection on the part of any person acting for the Insured in initiating such transit.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">loss, in time of peace or war, directly or indirectly caused by or resulting from the effects of
nuclear fission or fusion or radioactivity; provided, however, that this paragraph shall not apply to</TD></TR></TABLE>

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<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">loss resulting from industrial
uses of nuclear energy.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">loss resulting from any wrongful act or acts of any person who is a member of the Board of Directors
of the Insured or a member of any equivalent body by whatsoever name known unless such person is also an Employee or an elected
official, partial owner or partner of the Insured in some other capacity, nor, in any event, loss resulting from the act or acts
of any person while acting in the capacity of a member of such Board or equivalent body.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">loss resulting from the complete or partial non-payment of, or default upon, any loan or transaction
in the nature of, or amounting to, a loan made by or obtained from the Insured or any of its partners, directors or Employees,
whether authorized or unauthorized and whether procured in good faith or through trick, artifice, fraud or false pretenses. unless
such loss is covered under Insuring Agreement (A), (E) or (F).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">loss resulting from any violation by the Insured or by any Employee</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">of law regulating (a) the issuance, purchase or sale of securities, (b) securities transactions
upon Security Exchanges or over the counter market, (c) Investment Companies, or (d) Investment Advisors, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">of any rule or regulation made pursuant to any such law, unless such loss, in the absence of such
laws, rules or regulations, would be covered under Insuring Agreements (A) or (E).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">loss of Property or loss of privileges through the misplacement or loss of Property as set forth
in Insuring Agreement (C) or (D) while the Property is in the custody of any armored motor vehicle company, unless such loss shall
be in excess of the amount recovered or received by the Insured under (a) the Insured's contract with said armored motor vehicle
company, (b) insurance carried by said armored motor vehicle company for the benefit of users of its service, and (c) all other
insurance and indemnity in force in whatsoever form carried by or for the benefit of users of said armored motor vehicle company's
service, and then this bond shall cover only such excess.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">potential income, including but not limited to interest and dividends, not realized by the Insured
because of a loss covered under this bond, except as included under Insuring Agreement (I).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top"><TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify"> all damages of any type for which the
Insured is legally liable, except direct compensatory damages arising from a loss covered under this bond.</TD></TR></TABLE>


<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(j)</TD><TD STYLE="text-align: justify">loss through the surrender of Property away from an office of the Insured as a result of a threat</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">to do bodily harm to any person, except loss of Property in transit in the custody of any person
acting as messenger provided that when such transit was initiated there was no knowledge by the Insured of any such threat, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">to do damage to the premises or Property of the Insured, except when covered under Insuring Agreement
(A).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(k)</TD><TD STYLE="text-align: justify">all costs, fees and other expenses incurred by the Insured in establishing the existence of or
amount of loss covered under this bond unless such indemnity is provided for under Insuring Agreement (B).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(l)</TD><TD STYLE="text-align: justify">loss resulting from payments made or withdrawals from the account of a customer of the Insured,
shareholder or subscriber to shares involving funds erroneously credited to such account, unless such payments are made to or withdrawn
by such depositor or representative of such person, who is within the premises of the drawee bank of the Insured or within the
office of the Insured at the time of such payment or withdrawal or unless such payment is covered under Insuring Agreement (A).</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>


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<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: -0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(m)</TD><TD STYLE="text-align: justify">any loss resulting from Uncollectible Items of Deposit which are drawn from a financial institution
outside the fifty states of the United States of America, District of Columbia, and territories and possessions of the United States
of America, and Canada.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">SECTION 3. &#9;ASSIGNMENT OF RIGHTS</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This bond does
not afford coverage in favor of any Employers of temporary personnel or of processors as set forth in sub-sections (6) and (7)
of Section 1(a) of this bond, as aforesaid, and upon payment to the Insured by the Underwriter on account of any loss through dishonest
or fraudulent act(s) including 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 Insured's 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 Insured to
the Underwriter, and the Insured shall execute all papers necessary to secure to the Underwriter the rights herein provided for.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">SECTION 4. &#9;LOSS -NOTICE -PROOF-
LEGAL PROCEEDINGS</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This bond is for
the use and benefit only of the Insured named in the Declarations and the Underwriter shall not be liable hereunder for loss sustained
by anyone other than the Insured unless the Insured, in its sole discretion and at its option, shall include such loss in the Insured's
proof of loss. At the earliest practicable moment after discovery of any loss hereunder the Insured shall give the Underwriter
written notice thereof and shall also within six months after such discovery furnish to the Underwriter affirmative proof of loss
with full particulars. If claim is made under this bond for loss of securities or shares, the Underwriter shall not be liable unless
each of such securities or shares is identified in such proof of loss by a certificate or bond number or, where such securities
or shares are uncertificated, by such identification means as agreed to by the Underwriter. The Underwriter shall have thirty days
after notice and proof of loss within which to investigate the claim, but where the loss is clear and undisputed, settlement shall
be made within forty-eight hours; and this shall apply notwithstanding the loss is made up wholly or in part of securities of which
duplicates may be obtained. Legal proceedings for recovery of any loss hereunder shall not be brought prior to the expiration of
sixty days after such proof of loss is filed with the Underwriter nor after the expiration of twenty-four months from the discovery
of such loss, except that any action or proceeding to recover hereunder on account of any judgment against the Insured in any suit
mentioned in General Agreement C or to recover attorneys' fees paid in any such suit, shall be begun within twenty-four months
from the date upon which the judgment in such suit shall become final. If any limitation embodied in this bond is prohibited by
any law controlling the construction hereof, such limitation shall be deemed to be amended so as to be equal to the minimum period
of limitation permitted by such law.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Discovery occurs
when the Insured</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">becomes aware of facts, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">receives written notice of an actual or potential claim by a third party which alleges that the
Insured is liable under circumstance</TD></TR></TABLE>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">which would cause a reasonable person
to assume that a loss covered by the bond has been or will be incurred even though the exact amount or details of loss may not
be then known.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">SECTION 5. &#9;VALUATION OF PROPERTY</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The value of any
Property, except books of accounts or other records used by the Insured in the conduct of its business, for the loss of which a
claim shall be made hereunder, shall be determined by the average market value of such Property on the business day next preceding
the discovery of such loss; provided, however, that the value of any Property replaced by the Insured prior to the payment of claim
therefor shall be the actual market value at the time of replacement; and further provided that in case of a loss or misplacement
of interim certificates, warrants, rights, or other securities, the production which is necessary to the exercise of subscription,
conversion, redemption or deposit privileges, the value thereof shall be the market value of such privileges immediately preceding
the expiration thereof if said loss or misplacement 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 or by arbitration.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In case of any
loss or damage to Property<BR STYLE="clear: both"></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; text-align: center">&nbsp;<IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px"></P>

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<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">consisting of books
of accounts or other records used by the Insured in the conduct of its business, the Underwriter shall be liable under this bond
only if such books or records are actually reproduced and then for not more than the cost of blank books, blank pages or other
materials plus the cost of labor for the actual transcription or copying of data which shall have been furnished by the Insured
in order to reproduce such books and other records.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">SECTION 6. &#9;VALUATION OF PREMISES
AND FURNISHINGS</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In case of damage
to any office of the Insured, or loss of or damage to the furnishings, fixtures, stationery, supplies, equipment, safes or vaults
therein, the Underwriter shall not be liable for more than the actual cash value thereof, or for more than the actual cost of their
replacement or repair. The Underwriter may, at its election, pay such actual cash value or make such replacement or repair. If
the Underwriter and the Insured cannot agree upon such cash value or such cost of replacement or repair, such shall be determined
by arbitration.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">SECTION 7. &#9;LOST SECURITIES</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">If the Insured
shall sustain a loss of securities the total value of which is in excess of the limit stated in Item 3 of the Declarations of this
bond, the liability of the Underwriter shall be limited to payment for, or duplication of, securities having value equal to the
limit stated in Item 3 of the Declarations of this bond.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">If the Underwriter
shall make payment to the Insured for any loss of securities, the Insured shall thereupon assign to the Underwriter all of the
Insured's rights, title and interests in and to said securities.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">With respect to
securities the value of which do not exceed the Deductible Amount (at the time of the discovery of the loss) and for which the
Underwriter may at its sole discretion and option and at the request of the Insured issue a Lost Instrument Bond or Bonds to effect
replacement thereof, the Insured will pay the usual premium charged therefor and will indemnify the Underwriter against all loss
or expense that the Underwriter may sustain because of the issuance of such Lost Instrument Bond or Bonds.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">With respect to
securities the value of which exceeds the Deductible Amount (at the time of discovery of the loss) and for which the Underwriter
may issue or arrange for the issuance of a Lost Instrument Bond or Bonds to effect replacement thereof, the Insured agrees that
it will pay as premium therefor a proportion of the usual premium charged therefor, said proportion being equal to the percentage
that the Deductible Amount bears to the value of the securities upon discovery of the loss, and that it will indemnify the issuer
of said Lost Instrument Bond or Bonds against all loss and expense that is not recoverable from the Underwriter under the terms
and conditions of this INVESTMENT COMPANY BLANKET BOND subject to the Limit of Liability hereunder.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: -1in">SECTION 8.
&#9;SALVAGE</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In case of recovery,
whether made by the Insured or by the Underwriter, on account of any loss in excess of the Limit of Liability hereunder plus the
Deductible Amount applicable to such loss from any source other than suretyship, insurance, reinsurance, security or indemnity
taken by or for the benefit of the Underwriter, the net amount of such recovery, less the actual costs and expenses of making same,
shall be applied to reimburse the Insured in full for the excess portion of such loss, and the remainder, if any, shall be paid
first in reimbursement of the Underwriter and thereafter in reimbursement of the Insured for that part of such loss within the
Deductible Amount. The Insured shall execute all necessary papers to secure to the Underwriter the rights provided for herein.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: -1in">SECTION 9.
&#9;NON-REDUCTION AND NON-ACCUMULATION OF LIABILITY AND TOTAL LIABILITY</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">At all times prior
to termination hereof this bond shall continue in force for the limit stated in the applicable sections of Item 3 of the Declarations
of this bond notwithstanding any previous loss for which the Underwriter may have paid or be liable to pay hereunder; PROVIDED,
however, that regardless of the number of years this bond shall continue in force and the number of premiums which shall be payable
or paid, the liability of the Underwriter under this bond with respect to all loss resulting from</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">any one act of burglary, robbery or</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>


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<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">holdup, or attempt thereat, in
which no Partner or Employee is concerned or implicated shall be deemed to be one loss, or</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">any one unintentional or negligent act on the part of any one person resulting in damage to or
destruction or misplacement of Property, shall be deemed to be one loss, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">all wrongful acts, other than those specified in (a) above, of any one person shall be deemed to
be one loss, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">all wrongful acts, other than those specified in (a) above, of one or more persons (which dishonest
act(s) or act(s) of Larceny or Embezzlement include, but are not limited to, the failure of an Employee to report such acts of
others) whose dishonest act or acts intentionally or unintentionally, knowingly or unknowingly, directly or indirectly, aid or
aids in any way, or permits the continuation of, the dishonest act or acts of any other person or persons shall be deemed to be
one loss with the act or acts of the persons aided, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">any one casualty or event other than those specified in (a), (b), (c) or (d) preceding, shall be
deemed to be one loss, and</TD></TR></TABLE>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">shall be limited to the applicable
Limit of Liability stated in Item 3 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.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Sub-section (c)
is not applicable to any situation to which the language of sub-section (d) applies.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">SECTION 10. &#9;LIMIT OF LIABILITY</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">With respect to
any loss set forth in the PROVIDED clause of Section 9 of this bond which is recoverable or recovered in whole or in part under
any other bonds or policies issued by the Underwriter to the Insured or to any predecessor in interest of the Insured and terminated
or cancelled or allowed to expire and in which the period for discovery has not expired at the time any such loss thereunder is
discovered, the total liability of the Underwriter under this bond and under other bonds or policies shall not exceed, in the aggregate,
the amount carried hereunder on such loss or the amount available to the Insured under such other bonds or policies, as limited
by the terms and conditions thereof, for any such loss if the latter amount be the larger.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">SECTION 11. OTHER INSURANCE</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">If the Insured
shall hold, as indemnity against any loss covered hereunder, any valid and enforceable insurance or suretyship, the Underwriter
shall be liable hereunder only for such amount of such loss which is in excess of the amount of such other insurance or suretyship,
not exceeding, however, the Limit of Liability of this bond applicable to such loss.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">SECTION 12.&#9; DEDUCTIBLE</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Underwriter
shall not be liable under any of the Insuring Agreements of this bond on account of loss as specified, respectively, in sub- sections
(a), (b), (c), (d) and (e) of Section 9, NON-REDUCTION AND NON- ACCUMULATION OF LIABILITY AND TOTAL LIABILITY, unless the amount
of such loss, after deducting the net amount of all reimbursement and/or recovery obtained or made by the Insured, other than from
any bond or policy of insurance issued by an insurance company and covering such loss, or by the Underwriter on account thereof
prior to payment by the Underwriter of such loss, shall exceed the Deductible Amount set forth in Item 3 of the Declarations hereof
(herein called Deductible Amount) and then for such excess only, but in no event for more than the applicable Limit of Liability
stated in Item 3 of the Declarations.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Insured will
bear, in addition to the Deductible Amount, premiums on Lost Instrument Bonds as set forth in Section 7.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">There shall be
no deductible applicable to any loss under Insuring Agreement A sustained by any Investment Company named as Insured herein.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">SECTION 13.&#9;TERMINATION</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Underwriter
may terminate this bond as an entirety by furnishing written notice specifying the termination date which cannot be prior to 60
days after the receipt of such written notice by</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; text-align: center"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>


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<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">each Investment
Company named as Insured and the Securities and Exchange Commission, Washington, D.C. The Insured may terminate this bond as an
entirety by furnishing written notice to the Underwriter. When the Insured cancels, the Insured shall furnish written notice to
the Securities and Exchange Commission, Washington. D.C. prior to 60 days before the effective date of the termination. The Underwriter
shall notify all other Investment Companies named as Insured of the receipt of such termination notice and the termination cannot
be effective prior to 60 days after receipt of written notice by all other Investment Companies. Premiums are earned until the
termination date as Premiums are earned until the termination date as set forth herein.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This Bond will
terminate as to any one Insured immediately upon taking over of such Insured by a receiver or other liquidator or by State or Federal
officials, or immediately upon the filing of a petition under any State or Federal statute relative to bankruptcy or reorganization
of the Insured, or assignment for the benefit of creditors of the Insured. or immediately upon such Insured ceasing to exist, whether
through merger into another entity, or by disposition of all of its assets.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Underwriter
shall refund the unearned premium computed at short rates in accordance with the standard short rate cancellation tables if terminated
by the Insured or pro rata if terminated for any other reason.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This Bond shall
terminate</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">as to any Employee as soon as any partner, officer or supervisory Employee of the Insured, who
is not in collusion with such Employee, shall learn of any dishonest or fraudulent act(s), including Larceny or Embezzlement on
the part of such Employee without prejudice to the loss of any Property then in transit in the custody of such Employee (See Section
16[d]), or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">as to any Employee 60 days after receipt by each Insured and by the Securities and Exchange Commission
of a written notice from the Underwriter of its desire to terminate this bond as to such Employee, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">as to any person, who is a partner, officer or employee of any Electronic Data Processor covered
under this bond, from and after the time that the Insured or any partner or officer thereof not in collusion with such person shall
have knowledge or information that such person has committed any dishonest or fraudulent act(s), including Larceny or Embezzlement
in the service of the Insured or otherwise, whether such act be committed before or after the time this bond is effective.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">SECTION 14.&#9;RIGHTS AFTER TERMINATION
OR CANCELLATION</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">At any time prior
to the termination or cancellation of this bond as an entirety, whether by the Insured or the Underwriter, the Insured may give
to the Underwriter notice that it desires under this bond an additional period of 12 months within which to discover loss sustained
by the Insured prior to the effective date of such termination or cancellation and shall pay an additional premium therefor.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Upon receipt of
such notice from the Insured, the Underwriter shall give its written consent thereto; provided, however, that such additional period
of time shall terminate immediately;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">on the effective date of any other insurance obtained by the Insured, its successor in business
or any other party, replacing in whole or in part the insurance afforded by this bond, whether or not such other insurance provides
coverage for loss sustained prior to its effective date, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">upon takeover of the Insured's business by any State or Federal official or agency, or by any receiver
or liquidator, acting or appointed for this purpose</TD></TR></TABLE>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">without the necessity of the Underwriter
giving notice of such termination. In the event that such additional period of time is terminated, as provided above, the Underwriter
shall refund any unearned premium.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The right to purchase such additional
period for the discovery of loss may not be exercised by any State or Federal official or agency, or by any receiver or liquidator,
acting or appointed to take over the Insured's business for the operation or for the liquidation thereof or for any other purpose.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; text-align: center"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>


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<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">SECTION 15.&#9;CENTRAL HANDLING
OF SECURITIES</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Securities included
in the systems for the central handling of securities established and maintained by Depository Trust Company, Midwest Depository
Trust Company, Pacific Securities Depository Trust Company, and Philadelphia Depository Trust Company, hereinafter called Corporations,
to the extent of the Insured's interest therein as effective by the making of appropriate entries on the books and records of such
Corporations shall be deemed to be Property.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The words &quot;Employee&quot;
and &quot;Employees&quot; shall be deemed to include the officers, partners, clerks and other employees of the New York Stock Exchange,
Boston Stock Exchange, Midwest Stock Exchange, Pacific Stock Ex- change and Philadelphia Stock Exchange, hereinafter called Exchanges,
and of the above named Corporations, and of any nominee in whose name is registered any security included within the systems for
the central handling of securities established and maintained by such Corporations, and any employee of any recognized service
company, while such officers, partners, clerks and other employees and employees of service companies perform services for such
Corporations in the operation of such systems. For the purpose of the above definition a recognized service company shall be any
company providing clerks or other personnel to said Exchanges or Corporation on a contract basis.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Underwriter
shall not be liable on account of any loss(es) in connection with the central handling of securities within the systems established
and maintained by such Corporations, unless such loss(es) shall be in excess of the amount(s) recoverable or recovered under any
bond or policy of insurance indemnifying such Corporations, against such loss(es), and then the Underwriter shall be liable hereunder
only for the Insured's share of such excess loss(es), but in no event for more than the Limit of Liability applicable hereunder.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">For the purpose
of determining the Insured's share of excess loss(es) it shall be deemed that the Insured has an interest in any certificate representing
any security included within such systems equivalent to the interest the Insured then has in all certificates representing the
same security included within such systems and that such Corporations shall use their best judgement in apportioning the amount(s)
recoverable or recovered under any bond or policy of insurance indemnifying such Corporations against such loss(es) in connection
with the central handling of securities within such systems among all those having an interest as recorded by appropriate entries
in the books and records of such Corporations in Property involved in such loss(es) on the basis that each such interest shall
share in the amount(s) so recoverable or recovered in the ratio that the value of each such interest bears to the total value of
all such interests and that the Insured's share of such excess loss(es) shall be the amount of the Insured's interest in such Property
in excess of the amount(s) so apportioned to the Insured by such Corporations.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This bond does
not afford coverage in favor of such Corporations or Exchanges or any nominee in whose name is registered any security included
within the systems for the central handling of securities established and maintained by such Corporations, and upon payment to
the Insured by the Underwriter on account of any loss(es) within the systems, an assignment of such of the Insured's rights and
causes of action as it may have against such Corporations or Exchanges shall to the extent of such payment, be given by the Insured
to the Underwriter, and the Insured shall execute all papers necessary to secure to the Underwriter the rights provided for herein.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">SECTION 16.&#9;ADDITIONAL COMPANIES
INCLUDED AS INSURED</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">If more than one
corporation, co- partnership or person or any combination of them be included as the Insured herein:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the total liability of the Underwriter hereunder for loss or losses sustained by any one or more
or all of them shall not exceed the limit for which the Underwriter would be liable hereunder if all such loss were sustained by
any one of them,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">the one first named herein shall be deemed authorized to make, adjust and receive and enforce payment
of all claims hereunder and shall be deemed to be the agent of the others for such purposes and for the giving or receiving of
any notice required or permitted to be given by the terms</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>


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<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify">hereof, provided that the Underwriter
shall furnish each named Investment Company with a copy of the bond and with any amendment thereto, together with a copy of each
formal filing of the settlement of each such claim prior to the execution of such settlement,</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">the Underwriter shall not be responsible for the proper application of any payment made hereunder
to said first named Insured,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">knowledge possessed or discovery made by any partner, officer or supervisory Employee of any Insured
shall for the purposes of Section 4 and Section 13 of this bond constitute knowledge or discovery by all the Insured, and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">if the first named Insured ceases for any reason to be covered under this bond, then the Insured
next named shall thereafter be considered as the first named Insured for the purposes of this bond.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">SECTION 17.&#9;NOTICE AND CHANGE OF
CONTROL</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Upon the Insured's
obtaining knowledge of a transfer of its outstanding voting securities which results in a change in control (as set forth in Section
2(a) (9) of the Investment Company Act of 1940) of the Insured, the Insured shall within thirty (30) days of such knowledge give
written notice to the Underwriter setting forth:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the names of the transferors and transferees (or the names of the beneficial owners if the voting
securities are requested in another name), and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">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</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">the total number of outstanding voting securities.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">As used in this
section, control means the power to exercise a controlling influence over the management or policies of the Insured.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Failure to give
the required notice shall result in termination of coverage of this bond, effective upon the date of stock transfer for any loss
in which any transferee is concerned or implicated.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Such notice is
not required to be given in the case of an Insured which is an Investment Company.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">SECTION 18.&#9;CHANGE OR MODIFICATION</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This bond or any
instrument amending or effecting same may not be changed or modified orally. No changes in or modification thereof shall be effective
unless made by written endorsement issued to form a part hereof over the signature of the Underwriter's Authorized Representative.
When a bond covers only one Investment Company no change or modification which would adversely affect the rights of the Investment
Company shall be effective prior to 60 days after written notification has been furnished to the Securities and Exchange Commission,
Washington, D.C. by the Insured or by the Underwriter. If more than one Investment Company is named as the Insured herein, the
Underwriter shall give written notice to each Investment Company and to the Securities and Exchange Commission, Washington, D.C.
not less than 60 days prior to the effective date of any change or modification which would adversely affect the rights of such
Investment Company.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 -20pt 12pt; text-align: justify; text-indent: 0.5in">IN WITNESS
WHEREOF, the Underwriter has caused this bond to be executed on the Declarations Page.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;<IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px"></P>


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<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 1</B></P>

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>NEW YORK STATUTORY RIDER</B></P>

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">It is agreed that:</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Part
(a) of the Section entitled &quot;Termination or Cancellation&quot; of this bond/policy is deleted.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">Cancellation of this bond/policy by the Underwriter/Company is subject to the following provisions:</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify">If the bond/policy has been
in effect for 60 days or less, it may be cancelled by the Underwriter/Company for any reason. Such cancellation shall be effective
20 days after the Underwriter/Company mails a notice of cancellation to the first-named insured at the mailing address shown in
the bond/policy. However, if the bond/policy has been in effect for more than 60 days or is a renewal, then cancellation must be
based on one of the following grounds:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">non-payment of premium;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">conviction of a crime arising out of acts increasing the hazard insured against;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify">discovery of fraud or material misrepresentation in the obtaining of the bond/policy or in the
presentation of claim thereunder;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(D)</TD><TD STYLE="text-align: justify">after issuance of the bond/policy or after the last renewal date, discovery of an act or omission,
or a violation of any bond/policy condition that substantially and materially increases the hazard insured against, and which occurred
subsequent to inception of the current bond/policy period;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(E)</TD><TD STYLE="text-align: justify">material change in the nature or extent of the risk, occurring after issuance or last annual renewal
anniversary date of the bond/policy, which causes the risk of loss to be substantially and materially increased beyond that contemplated
at the time the bond/policy was issued or last renewed;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(F)</TD><TD STYLE="text-align: justify">the cancellation is required pursuant to a determination by the superintendent that continuation
of the present premium volume of the insurer would jeopardize that insurers solvency or be hazardous to the interests of the insureds,
the insurers creditors or the public;</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END
</I></B></FONT><B><I>1</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center">&nbsp;<IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px"></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center">&copy; All rights reserved.</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 1 (Continued)</B></P>

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(G)</TD><TD STYLE="text-align: justify">a determination by the superintendent that the continuation of the bond/policy would violate, or
would place the insurer in violation of, any provision of the New York State insurance laws.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(H)</TD><TD STYLE="text-align: justify">where the insurer has reason to believe, in good faith and with sufficient cause, that there is
a possible risk or danger that the insured property will be destroyed by the insured for the purpose of collecting the insurance
proceeds, provided, however, that:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 9pt">(i)</FONT></TD><TD STYLE="text-align: justify">a notice of cancellation on this ground shall inform the insured in plain language that the insured
must act within ten days if review by the lnsurance Department of the State of New York of the ground for cancelation is desired,
and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Arial Narrow, Helvetica, Sans-Serif; font-size: 11.5pt">(ii)</FONT></TD><TD STYLE="text-align: justify">notice of cancellation on this ground shall be provided simultaneously by the insurer to the Insurance
Department of the State of New York. Cancellation based on one of the above grounds shall be effective 15 days after the notice
of cancellation is mailed or delivered to the named insured, at the address shown on the bond/policy, and to its authorized agent
or broker.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">If the Underwriter/Company elects not to replace a bond/policy at the termination of the bond/policy
period, it shall notify the insured not more than 120 days nor less than 60 days before termination. If such notice is given late,
the bond/policy shall continue in effect for 60 days after such notice is given. The Aggregate Limit of Liability shall not be
increased or reinstated. The notice not to replace shall be mailed to the insured and its broker or agent.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">If the Underwriter/Company elects to replace the bond/policy, but with a change of limits, reduced
coverage, increased deductible, additional exclusion, or upon increased premiums in excess of ten percent (exclusive of any premium
increase as a result of experience rating), the Underwriter must mail written notice to the insured and its agent or broker not
more than 120 days nor less than 60 days before replacement. If such notice is given late, the replacement bond/policy shall be
in effect with the same terms, conditions and rates as the terminated bond/policy for 60 days after such notice is given.</TD></TR></TABLE>

<P STYLE="font: 10.5pt/12.7pt Verdana, Helvetica, Sans-Serif; margin: 0 0.05in"></P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"></P>

<P STYLE="font: 10.5pt/12.7pt Verdana, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;<IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px"></P>

<P STYLE="font: 10.5pt/12.7pt Verdana, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 0">&copy; All rights reserved.</P>

<P STYLE="font: 10.5pt/12.7pt Verdana, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10.5pt/12.7pt Verdana, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 0"><B><I>END 1</I></B></P>

<P STYLE="font: 10.5pt/12.7pt Verdana, Helvetica, Sans-Serif; margin: 0 0.05in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 1 (Continued)</B></P>

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt/12.9pt Tahoma, Helvetica, Sans-Serif; margin: 0.25pt 0.1in 0 0.6in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt/12.9pt Tahoma, Helvetica, Sans-Serif; margin: 0.25pt 0.1in 0 0.6in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify">The Underwriter/Company may elect to simply notify the insured that the bond/policy will either
be not renewed or renewed with different terms, conditions or rates. In this event, the Underwriter/Company will inform the insured
that a second notice will be sent at a later date specifying the Underwriter's/Company's exact intention. The Underwriter shall
inform the insured that, in the meantime, coverage shall continue on the same terms, conditions and rates as the expiring bond/policy
until the expiration date of the bond/policy or 60 days after the second notice is mailed or delivered, whichever is later.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; font-family: Tahoma, Helvetica, Sans-Serif; text-align: left">FOR USE WITH FINANCIAL INSTITUTION BONDS, STANDARD FORMS NOS. 14, 15, 24, AND 25 AND EXCESS BANK EMPLOYEE DISHONESTY BONDS, STANDARD FORM NO. 28, AND COMPUTER CRIME POLICY FOR FINANCIAL INSTITUTIONS TO COMPLY WITH STATUTORY REQUIREMENTS.</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><IMG SRC="image_005.jpg" ALT="" STYLE="height: 73px; width: 147px"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">AUTHORIZED REPRESENTATIVE</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;<IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px"></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&copy; All rights reserved.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END
</I></B></FONT><B><I>1</I></B>&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><B><I></I></B></P>


<!-- Field: Page; Sequence: 22 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 2 </B></P>

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>NAMED INSUREDS</B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">It is agreed that:</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Item
1. of the Declaration Page, Name of Insured, shall include the following:</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">AB Income Fund, Inc.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">AllianceBernstein Global High Income Fund Alliance</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">California Municipal Income Fund, Inc. Alliance New</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">York Municipal Income Fund, Inc. Alliance National</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">Municipal Income Fund, Inc. AllianceBernstein</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">Multi-Manager Alternative Fund</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">AllianceBernstein Bond Fund, Inc.:</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Bond Inflation</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Intermediate Bond Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Limited Duration High Income Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Municipal Bond Inflation Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Real Asset Strategy Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Tax-Aware Fixed Income Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Government Reserves Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">AllianceBernstein High Income Fund, Inc.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">AllianceBernstein Exchange Reserves</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">AllianceBernstein Fixed-Income Shares, Inc.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- Alliance Bernstein Government STIF Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">AllianceBernstein Corporate Shares</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Corporate Income Shares</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Municipal Income Shares</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Tax Aware Real Return Income Shares</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Taxable Multi-Sector Income Shares</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">AllianceBernstein Global Bond</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">AllianceBernstein Unconstrained Bond Fund (f/k/a Diversified
Yield)</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;<IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px"></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&copy;
All rights reserved.</FONT></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END
</I></B></FONT><B><I>2</I></B>&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0"></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 2 (Continued)</B></P>

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">AllianceBernstein Municipal Income Fund, Inc.:</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- California Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- National Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- New York Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- High Income Municipal Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">AllianceBernstein Municipal Income Fund II:</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- Arizona Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- Massachusetts Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- Michigan Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- Minnesota Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- New Jersey Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- Ohio Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- Pennsylvania Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- Virginia Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">AllianceBernstein Global Risk Allocation Portfolio (f/k/a
Balanced Shares, Inc.)</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">AllianceBernstein Cap Fund, Inc.:</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Small Cap Growth Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Market Neutral Strategy - U.S. Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Market Neutral Strategy - Global
Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein International Discovery Equity Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Emerging Market Multi-Asset Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Select US Equity</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Dynamic All Market Fund</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Select US Long/Short Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Concentrated Growth Fund</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">AllianceBernstein Core Opportunities Fund, Inc.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 1in">(f/k/a Focused Growth &amp;  Income Fund)</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">AllianceBernstein Global Thematic Growth Fund, Inc.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">AllianceBernstein Growth  &amp; Income Fund,
Inc.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">AllianceBernstein Institutional Funds, Inc.:</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Global Real Estate Investment Fund
II</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;<IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px"></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 0">&copy;
All rights reserved.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
2</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 2 (Continued)</B></P>

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">AllianceBernstein International Growth Fund, Inc.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">AllianceBernstein Large-Cap Growth Fund, Inc.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">AllianceBernstein Discovery Growth Fund, Inc.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 1in">(f/k/a Small/Mid-Cap Growth Fund, Inc.)</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">AllianceBernstein Global Real Estate Investment Fund,
Inc.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">AllianceBernstein Trust</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Global Value Fund</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein International Value Fund</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Discovery Value Fund</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 1in">(f/k/a Small-Mid Cap Value Fund)</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Value Fund</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">AllianceBernstein Equity Income Fund, Inc. (f/k/a Utility
Income Fund)</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">The AllianceBernstein Portfolios:</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Growth Fund</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Balanced Wealth Strategy</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Wealth Appreciation Strategy</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Conservative Wealth Strategy</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Tax-Managed Balanced Wealth Strategy</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Tax-Managed Wealth Appreciation
Strategy</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Tax-Managed Conservative Wealth
Strategy</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">AllianceBernstein Blended Style Series, Inc.:</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein 2000 Retirement Strategy</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein 2005 Retirement Strategy</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein 2010 Retirement Strategy</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein 2015 Retirement Strategy</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein 2020 Retirement Strategy</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein 2025 Retirement Strategy</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein 2030 Retirement Strategy</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein 2035 Retirement Strategy</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein 2040 Retirement Strategy</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein 2045 Retirement Strategy</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein 2050 Retirement Strategy</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein 2055 Retirement Strategy</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
2</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in"></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 2 (Continued)</B></P>

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">Sanford C. Bernstein Fund, Inc.:</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- California Municipal Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- Diversified Municipal Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- New York Municipal Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- U.S. Government Short Duration Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- Short Duration Plus Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- Intermediate Duration Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- Short Duration New York Municipal Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- Short Duration California Municipal Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- Short Duration Diversified Municipal Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- International Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- Tax-Managed International Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- Emerging Markets Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- Overlay A Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- Overlay B Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- Tax-Aware Overlay A Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- Tax-Aware Overlay B Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- Tax-Aware Overlay C Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- Tax-Aware Overlay N Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">Sanford C. Bernstein Fund II, Inc.:</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- Bernstein Intermediate Duration Institutional Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">AllianceBernstein Variable Products Series Fund, Inc.:</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Balanced Wealth Strategy Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Dynamic Asset Allocation Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Global Thematic Growth Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Growth Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Growth and Income Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein International Growth Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein International Value Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Large Cap Growth Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Real Estate Investment Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Small Cap Growth Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Small-Mid Cap Value Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Intermediate Bond</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 1in">(f/k/a U.S. Government/High Grade Securities Portfolio)</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Value Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px"></P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
2</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in"></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 2 (Continued)</B></P>

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">The AllianceBernstein Pooling Portfolios:</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein U.S. Value Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein U.S. Large Cap Growth Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Multi-Asset Real Return Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 60pt">&nbsp;&nbsp;&nbsp;&nbsp;(f/k/a Global Real Estate Investment Portfolio)</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein International Value Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein International Growth Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Short Duration Bond Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Global Core Bond Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 1in">(f/k/a Intermediate Duration Bond Portfolio)</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Bond Inflation Protection Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 1in">(f/k/a Inflation Protected securities Portfolio)</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein High Yield Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Small-Mid Cap Value Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Small-Mid Cap Growth Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AllianceBernstein Volatility Management Portfolio</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AB Private Credit Investors Corporation</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AB Private Credit Investors (Advisor)</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">- AB Private Credit Investors Corporation (BDC)</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify">and any other fund(s) now existing
in the AllianceBernstein Complex of Registered Investment Companies mutual fund program;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">Nothing herein contained shall be held to vary, alter, waive or extend any of the terms, limitations,
conditions or agreements of the attached bond other than as above stated.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><IMG SRC="image_005.jpg" ALT="" STYLE="height: 73px; width: 147px"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">AUTHORIZED REPRESENTATIVE</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 0"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&copy; All rights reserved.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
2</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in"></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 3 </B></P>

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt/12.85pt Tahoma, Helvetica, Sans-Serif; margin: 0.05pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt/12.85pt Tahoma, Helvetica, Sans-Serif; margin: 0.05pt 0 0; text-align: center"><B>AMENDED INSURING AGREEMENT
(A) FIDELITY</B></P>

<P STYLE="font: 10pt/12.85pt Tahoma, Helvetica, Sans-Serif; margin: 0.05pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/12.85pt Tahoma, Helvetica, Sans-Serif; margin: 0.05pt 0 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">It is agreed that:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">Insuring Agreement (A) FIDELITY is hereby deleted in its entirety and the following is substituted
therefor:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">Loss resulting directly from dishonest or fraudulent acts, including Larceny and Embezzlement,
committed by an Employee anywhere and whether committed alone or in collusion with others, including loss of Property resulting
from such acts of an Employee, which Property is held by the Insured for any purpose or in any capacity and whether so held gratuitously
or not and whether or not the Insured is liable therefor.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in; text-align: justify">Such dishonest or fraudulent acts
must be committed by the Employee with the manifest intent:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">to cause the Insured to sustain such loss; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">to obtain financial benefit for the Employee, or for any other person or organization intended
by the Employee to receive such benefit.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in; text-align: justify">Notwithstanding the foregoing,
however, it is agreed that with regard to Loans and/or Trading, this bond covers only loss resulting directly from dishonest or
fraudulent acts committed by an Employee with the intent to cause the Insured to sustain such loss and which results in a financial
benefit for the Employee.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in; text-align: justify">The term &quot;Loans&quot; as
used in this Insuring Agreement shall be deemed to mean all extensions of credit by the Insured and all transactions creating a
creditor relationship in favor of the Insured and all transactions by which the Insured assumes an existing creditor relationship.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in; text-align: justify">The term &quot;Trading&quot; as
used in this Insuring Agreement shall be deemed to mean trading or other dealings in securities, commodities, futures, options,
swaps, foreign or Federal Funds, currencies, foreign exchange and the like.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
3</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center"></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 3 (Continued)</B></P>

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt/12.85pt Tahoma, Helvetica, Sans-Serif; margin: 0.05pt 0 0">&nbsp;</P>

<P STYLE="font: 10.5pt/12.9pt Tahoma, Helvetica, Sans-Serif; margin: 0.75pt 0 0 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt/12.9pt Tahoma, Helvetica, Sans-Serif; margin: 0.75pt 0 0 1in; text-align: justify">As used throughout this
Insuring Agreement, financial benefit does not include any salaries, commissions, fees, bonuses, promotions, awards, profit sharing,
pensions or other employee benefits earned in the normal course of employment.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt/12.9pt Tahoma, Helvetica, Sans-Serif; margin-top: 13.25pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD>Nothing herein contained shall be held to vary, alter, waive or extend any of the terms, limitations, conditions or agreements
of the attached bond other than as above stated.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><IMG SRC="image_005.jpg" ALT="" STYLE="height: 73px; width: 147px"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">AUTHORIZED REPRESENTATIVE</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&copy; All rights reserved.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
3</I></B></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0"></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 4</B></P>

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt/13pt Verdana, Helvetica, Sans-Serif; margin: 0.5pt 0 0 0.05in; text-align: center">&nbsp;</P>

<P STYLE="font: 10.5pt/13pt Verdana, Helvetica, Sans-Serif; margin: 0.5pt 0 0 0.05in; text-align: center"><B>AMENDED INSURING
AGREEMENT (B) AUDIT EXPENSE</B></P>

<P STYLE="font: 10.5pt/13pt Verdana, Helvetica, Sans-Serif; margin: 0.5pt 0 0 0.05in">&nbsp;</P>

<P STYLE="font: 10.5pt/13pt Verdana, Helvetica, Sans-Serif; margin: 0.5pt 0 0 0.05in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">It is agreed that:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">Insuring Agreement (B), AUDIT EXPENSE, applies to the discovery of any loss sustained by the Insured
and covered by this Bond.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">Nothing herein contained shall be held to vary, alter, waive or extend any of the terms, limitations,
conditions or agreements of the attached bond other than as above stated.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><IMG SRC="image_005.jpg" ALT="" STYLE="height: 73px; width: 147px"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">AUTHORIZED REPRESENTATIVE</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&copy; All rights reserved.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
4</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 5</B></P>

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt/13pt Verdana, Helvetica, Sans-Serif; margin: 0.5pt 0 0 0.05in; text-align: center">&nbsp;</P>

<P STYLE="font: 10.5pt/12.4pt Tahoma, Helvetica, Sans-Serif; margin: 0.15pt 0 10.9pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10.5pt/12.4pt Tahoma, Helvetica, Sans-Serif; margin: 0.15pt 0 10.9pt; text-align: center"><B>ECONOMIC SANCTIONS
ENDORSEMENT</B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">This endorsement modifies insurance
provided under the following:</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Coverage shall only be provided and
payment of loss under this policy shall only be made in full compliance with enforceable United Nations economic and trade sanctions
and the trade and economic sanction laws or regulations of the European Union and the United States of America, including, but
not limited to, sanctions, laws and regulations administered and enforced by the U.S. Treasury Department&rsquo;s Office of Foreign Assets
Control (&quot;OFAC&quot;).</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center">ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS
REMAIN UNCHANGED.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><IMG SRC="image_005.jpg" ALT="" STYLE="height: 73px; width: 147px"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">AUTHORIZED REPRESENTATIVE</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&copy; All rights reserved.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
5</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 6</B></P>

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt/13pt Verdana, Helvetica, Sans-Serif; margin: 0.5pt 0 0 0.05in; text-align: center">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>AMENDED INSURING AGREEMENT (G)
COUNTERFEIT CURRENCY</B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">It is agreed that:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">Insuring Agreement (G), COUNTERFEIT CURRENCY, is amended so that coverage applies to any counterfeited
money orders or altered paper currencies or coin of any country.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">Nothing herein contained shall be held to vary, alter, waive or extend any of the terms, limitations,
conditions or agreements of the attached bond other than as above stated.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><IMG SRC="image_005.jpg" ALT="" STYLE="height: 73px; width: 147px"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">AUTHORIZED REPRESENTATIVE</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&copy; All rights reserved.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
6</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 7</B></P>

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt/13pt Verdana, Helvetica, Sans-Serif; margin: 0.5pt 0 0 0.05in; text-align: center">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>COMPUTER SYSTEMS</B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">It is agreed that:</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
attached bond is amended by adding an Insuring Agreement (J) as follows:</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>COMPUTER SYSTEMS</B></P>

<P STYLE="font: 10.5pt/13.2pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: -0.5in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">Loss
resulting </FONT><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">directly from a fraudulent</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt/13.25pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD>entry of data into, or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt/13.25pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD>change of data or programs within</TD></TR></TABLE>

<P STYLE="font: 10.5pt/13.25pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in">a Computer System; provided the fraudulent
entry or change causes</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt/13.2pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>Property to be transferred, paid or delivered;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt/12.75pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="padding-right: 0.3in">an account of the Insured, or of its customer, to be added, deleted, debited or credited;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt/12.7pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="padding-right: 0.55in">an unauthorized account or a fictitious account to be debited or credited;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt/13.25pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD>voice instructions or advices having been transmitted to the Insured or its agent(s) by telephone;</TD></TR></TABLE>

<P STYLE="font: 10.5pt/13.25pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in">and provided further, the fraudulent entry
or change is made or caused by an individual acting with the intent to:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt/13.2pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD>cause the Insured or its agent(s) to sustain a loss; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt/13.2pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD>obtain financial benefit for that individual or for other persons intended by that individual to receive financial benefit;
and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt/13.2pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD>further provided such voice instructions or advices:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt/12.7pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="padding-right: 0.55in">were made by a person who purported to represent an individual authorized to make such voice
instruction or advices; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt/12.7pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="padding-right: 0.55in">were electronically recorded by the Insured or its agent(s).</TD></TR></TABLE>

<P STYLE="font: 10.5pt/12.7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0.55in 12pt 2in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt/12.7pt Tahoma, Helvetica, Sans-Serif; margin: 0 0.55in 12pt 2in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
7</I></B></P>

<P STYLE="font: 10.5pt/12.7pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 12pt"></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 7 (Continued)</B></P>

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt/12.95pt Verdana, Helvetica, Sans-Serif; margin: 0.4pt 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt/13.25pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(4)</TD><TD>It shall be a condition to recovery under the Computer Systems Insuring Agreement that the Insured or its agent(s) shall, to
the best of their ability, electronically record all voice instructions or advices received over the telephone. The Insured or
its agent(s) warrant that they shall make their best efforts to maintain the electronic recording system on a continuous basis.</TD></TR></TABLE>

<P STYLE="font: 10.5pt/13.25pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">Nothing, however, in this
Insuring Agreement shall bar the Insured from recovery where no recording is available because of mechanical failure of the device
used in making such recording, or because of failure of the media used to record conversation from any cause, or error or omission
of any Employee(s) or agent(s) of the Insured.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>SCHEDULE OF SYSTEMS</B></P>

<P STYLE="font: 10.5pt/12.9pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>All computer systems utilized
by the Insured</U></B></P>

<P STYLE="font: 10.5pt/12.9pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
used in this Insuring Agreement, Computer System means:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt/13.25pt Verdana, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>computers with related peripheral equipment, including storage components, wherever located;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt/13.25pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">(b)</FONT></TD><TD><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">systems</FONT> <FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">and
application software;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt/13.25pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">(c)</FONT></TD><TD><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">terminal</FONT> <FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">devices;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt/13.25pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">(d)</FONT></TD><TD><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">related</FONT> <FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">communication
networks or customer communication systems; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt/13.25pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">(e)</FONT></TD><TD><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">related</FONT> <FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">electronic
funds transfer systems;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="font: 10.5pt/12.95pt Verdana, Helvetica, Sans-Serif; margin: 0 0.6in 12pt 0.5in">by which data are electronically collected,
transmitted, processed, stored and retrieved.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Verdana, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">In addition to the Exclusions in the attached Bond, the following exclusions are applicable to
this Insuring Agreement:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt/13.25pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">(a)</FONT></TD><TD><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">loss</FONT> <FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">resulting
directly or indirectly from the theft of confidential information, material or data; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt/13.25pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">(b)</FONT></TD><TD><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">loss resulting directly or indirectly from entries or changes made
by an </FONT><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">individual</FONT> <FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">authorized
to have access to a Computer System who acts in good faith on instructions, unless such instructions are given to that individual
by a software contractor (or by a partner, officer or employee thereof) authorized by the Insured to design, develop, prepare,
supply, service, write or implement programs for the Insureds Computer System.</FONT></TD></TR></TABLE>

<P STYLE="font: 10.5pt/13.25pt Verdana, Helvetica, Sans-Serif; margin: 0 0 12pt 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END
</I></B></FONT><B><I>7</I></B></P>

<P STYLE="font: 10.5pt/13.25pt Verdana, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 12pt">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 7 (Continued)</B></P>

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt/12.95pt Verdana, Helvetica, Sans-Serif; margin: 0.4pt 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt/12.9pt Tahoma, Helvetica, Sans-Serif; margin: 0.15pt 0.05in 0 0.55in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">All loss or series of losses involving the fraudulent activity of one individual, or involving
fraudulent activity in which one individual is implicated, whether or not that individual is specifically identified, shall be
treated as one loss. A series of losses involving unidentified individuals but <FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">arising</FONT>
from the same method of operation may be deemed by the Underwriter to involve the same individual and, in that event, shall be
treated as one loss.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify">The Limit of <FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">Liability</FONT> for the
coverage provided by this Insuring Agreement shall be as shown on the Declaration Page of this Bond.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.</TD><TD STYLE="text-align: justify">The Underwriter shall be liable hereunder for the amount by which one loss shall be in excess of
the <FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">Deductible</FONT> Amount as shown on the Declaration Page of this
Bond.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">7.</TD><TD STYLE="text-align: justify">If any loss is covered <FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">under</FONT> this
Insuring Agreement and any other Insuring Agreement or Coverage, the maximum amount payable for such loss shall not exceed the
largest amount available under any one Insuring Agreement or Coverage.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">8.</TD><TD STYLE="text-align: justify">Coverage under this Insuring Agreement shall terminate upon termination or cancellation of the
bond to which this <FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">Insuring</FONT> Agreement is attached. Coverage under
this Insuring Agreement may also be terminated or cancelled without cancelling the Bond as an entirety:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt/13.25pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">(a)</FONT></TD><TD><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">60 days after </FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">receipt</FONT>
<FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">by the Insured of written notice from the Underwriter of its desire to
terminate or cancel coverage under this Insuring Agreement; or</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt/13.25pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">(b)</FONT></TD><TD><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">immediately upon </FONT><FONT STYLE="font-family: Verdana, Helvetica, Sans-Serif">receipt</FONT>
<FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">by the Underwriter of a written request from the Insured to terminate
or cancel coverage under this Insuring Agreement.</FONT></TD></TR></TABLE>

<P STYLE="font: 10.5pt/12.85pt Tahoma, Helvetica, Sans-Serif; margin: 13.05pt 0 0 0.5in; text-align: justify">The Underwriter shall
refund to the Insured the unearned premium for this coverage under this Insuring Agreement. The refund shall be computed at short
rates if this Insuring Agreement is terminated or cancelled or reduced by notice from, or at the instance of, the Insured.</P>

<P STYLE="font: 10.5pt/12.85pt Tahoma, Helvetica, Sans-Serif; margin: 13.05pt 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
7</I></B></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 7 (Continued)</B></P>

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt/12.95pt Verdana, Helvetica, Sans-Serif; margin: 0.4pt 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">9.</TD><TD STYLE="text-align: justify">Section 4, LOSS-NOTICE-PROOF-LEGAL PROCEEDINGS of the Conditions and Limitations of this Bond is
amended by adding the following sentence:</TD></TR></TABLE>

<P STYLE="font: 10.5pt/13pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in">&quot;Proof of loss resulting from voice instructions
or advices covered under this Insuring Agreement shall include electronic recording of such voice instructions or advices.&quot;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">10.</TD><TD STYLE="text-align: justify">Notwithstanding the foregoing, however, coverage afforded by this Insuring Agreement is not designed
to provide protection against loss covered under a separate Electronic and Computer Crime Policy by whatever title assigned or
by whatever Underwriter written. Any loss which is covered under such separate policy is excluded from coverage under this Bond
and the Insured agrees to make claim for such loss under its separate policy.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">11.</TD><TD STYLE="text-align: justify">Nothing herein contained shall be held to vary, alter, waive or extend any of the terms, limitations,
conditions or agreements of the attached bond other than as above stated.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><IMG SRC="image_005.jpg" ALT="" STYLE="height: 73px; width: 147px"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">AUTHORIZED REPRESENTATIVE</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&copy; All rights reserved.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
7</I></B></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0"></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 8</B></P>

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt/12.95pt Verdana, Helvetica, Sans-Serif; margin: 0.4pt 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 9pt/11.1pt Verdana, Helvetica, Sans-Serif; margin: 0 0.05in 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10.5pt/11.1pt Tahoma, Helvetica, Sans-Serif; margin: 0 0.05in 12pt 0; text-align: center"><B>TELEFACSIMILE TRANSFER FRAUD</B></P>

<P STYLE="font: 10.5pt/12.95pt Tahoma, Helvetica, Sans-Serif; margin: 0 0.05in 12pt 0">It is agreed that:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">The attached bond is amended by adding an Insuring Agreement (K) as follows:</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: center; text-indent: -0.5in"><B>TELEFACSIMILE
TRANSFER FRAUD</B></P>

<P STYLE="font: 10.5pt/12.95pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify">Loss resulting by reason
of the Insured having transferred, paid or delivered any funds or Property, established any credit, debited any account, or given
any value relying on any fraudulent instructions sent by a customer or financial institution by Telefacsimile transmission directed
to the Insured, authorizing or acknowledging the transfer, payment or delivery of funds or Property, the establishment of a credit,
debiting of any account, or the giving of value by the Insured, but only if such Telefacsimile instructions:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt/12.95pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">i)</TD><TD STYLE="text-align: justify">bear a valid test key exchanged between the Insured and a customer or another financial institution
with authority to use such test key for Telefacsimile instructions in the ordinary course of business, but which test key has been
wrongfully obtained by a person who was not authorized to initiate, make, validate or authenticate a test key arrangement; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt/12.95pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">ii)</TD><TD STYLE="text-align: justify">fraudulently purport to have been sent by such customer or financial institution, but which Telefacsimile
instructions were transmitted without the knowledge or consent of such customer or financial institution by a person other than
such customer or financial institution and which bear a forged signature.</TD></TR></TABLE>

<P STYLE="font: 10.5pt/12.95pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in; text-align: justify">&quot;Telefacsimile' means
a system of transmitting written documents by electronic signals over telephone lines to equipment maintained by the Insured within
its communication room for the purposes of reproducing a copy of said document. It does not mean an electronic communication sent
by telex, TWC, electronic mail or an Automated Clearing House.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">The Limit of Liability for the coverage provided by this Insuring Agreement shall be as shown on
the Declaration Page of this Bond.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">The Underwriter shall be liable hereunder for the amount by which one loss shall be in excess of
the Deductible Amount as shown on the Declaration Page of this Bond.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END
</I></B></FONT><B><I>8</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 8 (Continued)</B></P>

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">Nothing herein contained shall be held to vary, alter, waive or extend any of the terms, limitations,
conditions or agreements of the attached bond other than as above stated.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><IMG SRC="image_005.jpg" ALT="" STYLE="height: 73px; width: 147px"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">AUTHORIZED REPRESENTATIVE</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&copy; All rights reserved.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END
</I></B></FONT><B><I>8</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 9</B></P>

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt/11.55pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>AUTOMATED PHONE SYSTEMS</B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt">It is agreed that:</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0.65in 12pt 0">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
attached bond is amended by adding an Insuring Agreement (L) as follows:</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0.65in 12pt 0; text-align: center"><B>AUTOMATED PHONE SYSTEMS</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">I.</TD><TD STYLE="text-align: justify">Loss caused by an Automated Phone System (&quot;APS&quot;) Transaction, where the request for such
APS Transaction is unauthorized or fraudulent and is made with the manifest intent to deceive; provided, that the entity which
receives such request generally maintains and follows during the bond Period all APS Designated Procedures with respect to APS
Transactions. The unintentional isolated failure of such entity to maintain and follow a particular APS Designated Procedure in
a particular instance shall not preclude coverage under this Insuring Agreement, subject to the exclusions herein and in the Bond.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify"><U>Definitions.</U> The following terms used in this Insuring Agreement shall have the following
meanings:</TD></TR></TABLE>

<P STYLE="font: 10.5pt/normal Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">a.</TD><TD STYLE="text-align: justify">&quot;APS Transaction&quot; means any APS Redemption, APS Exchange or APS Election.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">b.</TD><TD STYLE="text-align: justify">&quot;APS Redemption&quot; means any redemption of shares issued by an Investment Company which
is requested over the telephone by means of information transmitted by an individual caller through use of a telephone keypad.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">c.</TD><TD STYLE="text-align: justify">&quot;APS Election&quot; means any election concerning dividend options available to fund shareholders
which is made over the telephone by means of information transmitted by an individual caller through use of a telephone keypad.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">d.</TD><TD STYLE="text-align: justify">&quot;APS Exchange&quot; means any exchange of shares in a registered account of one fund into
shares in an identically registered account of another fund in the same complex pursuant to exchange privileges of the two funds,
which exchange is requested over the telephone by means of information transmitted by an individual caller through use of a telephone
keypad.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 2in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 2in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
<FONT STYLE="letter-spacing: -1.7pt">9</FONT></I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 9 (Continued)</B></P>

<P STYLE="font: 10.5pt/12.6pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt/11.55pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0.5pt 0.7in 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">e.</TD><TD STYLE="text-align: justify">&quot;APS Designated Procedures&quot; means all of the following procedures:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify; padding-right: 0.05in"><U>Election in Application:</U> No APS Redemption shall be executed unless
the shareholder to whose account such an APS Redemption relates has previously elected by official designation to permit such APS
Redemption.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify; padding-right: 0.05in"><U>Logging:</U> All APS Transaction requests shall be logged or otherwise
recorded, so as to preserve all of the information transmitted by an individual caller through use of a telephone keypad in the
course of such a request, and the records shall be retained for at least six months.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify; padding-right: 0.05in">Information contained in the records shall be capable of being retrieved
through the following methods:</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0.05in 12pt 3in; text-align: justify">Procedures normally used
by the Insured</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify; padding-right: 0.05in">Information contained in the records shall be capable of being retrieved
and produced within a reasonable time after retrieval of specific information is requested, at a success rate of no less than 85
percent.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify; padding-right: 0.05in"><U>Identity
Test</U>: The identity of the caller in any request for an APS Transaction shall be tested before execution of that APS Transaction
by requiring the entry by the caller of a confidential personal identification number (&quot;PIN&quot;)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify; padding-right: 0.05in">Limited attempts to enter PIN: If the caller fails to enter a correct PIN
within three attempts, the caller must not be allowed additional attempts during the same (telephone call/twenty-four hour day)
to enter the PIN.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0.05in 12pt 2.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END
</I></B></FONT><B><I>9</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 9 (Continued)</B></P>

<P STYLE="font: 10.5pt/12.6pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt/11.55pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0.05in 12pt 2.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.5in">(4)</TD><TD STYLE="text-align: justify; padding-right: 0.05in"><U>Written Confirmation:</U> A written confirmation of any APS Transaction
shall be mailed to the shareholder(s) to whose account such APS Transaction relates, at the original record address, by the end
of the Insureds next regular processing cycle, but in no event later than five business days following such APS Transaction.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.5in">(5)</TD><TD STYLE="text-align: justify; padding-right: 0.05in"><U>Access to APS Equipment:</U> Access to the equipment which permits the
entity receiving the APS Transaction request to process and effect the transaction shall be limited in the following manner:</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0.05in 12pt 2.5in; text-align: justify">Procedures normally used
by the Insured</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify"><U>Exclusions.</U> It is further understood and agreed that this extension shall not cover:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">a.</TD><TD STYLE="text-align: justify">any loss covered under Insuring Agreement (A), FIDELITY, of this Bond;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">b.</TD><TD STYLE="text-align: justify">any loss resulting from:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify; padding-right: 0.05in">the redemption of shares, where the proceeds of such redemption are made
payable to other than</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify; padding-right: 0.05in">the shareholder of record; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify; padding-right: 0.05in">a person officially Designated to receive redemption proceeds; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.5in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify; padding-right: 0.05in">a bank account officially designated to receive redemption proceeds; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify; padding-right: 0.05in">the redemption of shares, where the proceeds of such redemption are paid
by check mailed to any address, unless such address has either been</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0.05in 12pt 2.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
9</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 9 (Continued)</B></P>

<P STYLE="font: 10.5pt/12.6pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt/11.55pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify; padding-right: 0.05in">designated by voice over the telephone or in writing without a signature
guarantee, in either case at least thirty (30) days prior to such redemption; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify; padding-right: 0.05in">officially designated; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2.5in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify; padding-right: 0.05in">verified by any other procedures which may be normally used by the Insured;
or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify; padding-right: 0.05in">the redemption of shares, where the proceeds of such redemption are paid
by wire transfer to other than the shareholder's officially Designated bank account; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.5in">(4)</TD><TD STYLE="text-align: justify; padding-right: 0.05in">the intentional failure to adhere to one or more APS Designated Procedures.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="padding-right: 0.65in">Nothing herein contained shall be held to vary, alter, waive, or extend any of the terms, limitations,
conditions or agreements of the attached bond other than as above stated.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0.65in 12pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0.65in 12pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0.65in 12pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><IMG SRC="image_005.jpg" ALT="" STYLE="height: 73px; width: 147px"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">AUTHORIZED REPRESENTATIVE</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0.65in 12pt 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 12pt"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&copy; All rights reserved.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END
</I></B></FONT><B><I>9</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 12pt">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 10</B></P>

<P STYLE="font: 10.5pt/12.6pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt/11.55pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 1.15pt 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 1.15pt 0 0; text-align: center"><B>AUTOMATIC COVERAGE</B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0.65in 12pt 0">It is agreed that:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">If the Insured shall, while this bond is in force, establish any new funds other than by consolidation
or merger with, purchase or acquisition of assets or liabilities of, another institution, such funds shall automatically be covered
hereunder from the date of such establishment without the payment of additional premium for the remainder of the premium period.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">If the Insured shall, while this bond is in force, require an increase in limits to comply with
SEC Reg. 17g-1, due to an increase in asset size of current funds insured under this bond or by the addition of new funds, such
increase in limits shall automatically be covered hereunder from the date of such increase without the payment of additional premium
for the remainder of the premium period.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">Nothing herein contained shall be held to vary, alter, waive or extend any of the terms, limitations,
conditions or agreements of the attached bond other than as above stated.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0.65in 12pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0.65in 12pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0.65in 12pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><IMG SRC="image_005.jpg" ALT="" STYLE="height: 73px; width: 147px"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">AUTHORIZED REPRESENTATIVE</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0.65in 12pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 12pt"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&copy; All rights reserved.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
10</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0.65in 12pt 0.5in; text-indent: -0.5in"></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 12pt">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 11</B></P>

<P STYLE="font: 10.5pt/12.6pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt/11.55pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0.4pt 0 0; text-align: center">AMEND SECTION 13., TERMINATION</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0.65in 12pt 0.5in; text-indent: -0.5in">It is agreed that:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="padding-right: 0.65in">The attached bond is hereby amended by deleting Section 13., TERMINATION, in its entirety and
substituting the following:</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify">The Underwriter may terminate
this bond as an entirety by furnishing written notice specifying the termination date which cannot be prior to 90 days after the
receipt of such written notice by each Investment Company named as Insured and the Securities and Exchange Commission, Washington,
DC. The Insured may terminate this bond as an entirety by furnishing written notice to the Underwriter. When the Insured cancels,
the Insured shall furnish written notice to the Securities and Exchange Commission, Washington, DC prior to 90 days before the
effective date of termination. The Underwriter shall notify all other Investment Companies named as Insured of the receipt of such
termination notice and the termination cannot be effective prior to 90 days after receipt of written notice by all other Investment
Companies. Premiums are earned until the termination date as set forth herein.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify">This bond will terminate as
to any one Insured, (other than a registered management investment company), immediately upon taking over of such Insured by a
receiver or other liquidator or by State or Federal officials, or immediately upon the filing of a petition under any State or
Federal statute relative to bankruptcy or reorganization of the Insured, or assignment for the benefit of creditors of the Insured,
or immediately upon such Insured ceasing to exist, whether through merger into another entity, or by disposition of all of its
assets.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify">This bond will terminate as
to any registered management investment company upon the expiration of 90 days after written notice has been given to the Securities
and Exchange Commission, Washington, DC.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify">The Underwriter shall refund
the unearned premium computed at short rates in accordance with the standard short rate cancellation tables if terminated by the
Insured or pro rata if terminated for any other reason.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
11</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0"></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 11 (Continued)</B></P>

<P STYLE="font: 10.5pt/12.6pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt/11.55pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0.05pt 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in">This bond shall terminate:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">a</TD><TD STYLE="text-align: justify">as to any Employee as soon as any partner, officer or supervisory Employee of the Insured, who
is not in collusion with such Employee, shall learn of any dishonest or fraudulent act(s), including Larceny or Embezzlement, on
the part of such Employee without prejudice to the loss of any Property then in transit in the custody of such Employee and upon
the expiration of 90 days after written notice has been given to the Securities and Exchange Commission, Washington, DC (see Section
16(d)) and to the Insured Investment Company; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">b.</TD><TD>as to any Employee 90 days after receipt by each Insured and by the Securities and Exchange Commission of a written notice
from the Underwriter of its desire to terminate this bond as to such Employee; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">c.</TD><TD STYLE="text-align: justify">as to any person, who is a partner, officer or employee of any electronic data processor covered
under this bond, from and after the time that the Insured or any partner or officer thereof not in collusion with such person shall
have knowledge or information that such person has committed any dishonest or fraudulent act(s), including Larceny or Embezzlement,
in the service of the Insured or otherwise, whether such act be committed before or after the time this bond is effective and upon
the expiration of 90 days after written notice has been given by the Underwriter to the Securities and Exchange Commission, Washington,
DC and to the insured Investment Company.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD>Upon the detection by any Insured that an Employee has committed any dishonest or fraudulent act(s) or theft, the Insured shall
immediately remove such Employee from a position that may enable such Employee to cause the Insured to suffer a loss by any subsequent
dishonest or fraudulent act(s) or theft. The Insured, within forty-eight (48) hours of such detection, shall notify the Underwriter
with full and complete particulars of the detected dishonest or fraudulent act(s) or theft.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">Nothing herein contained shall be held to vary, alter, waive or extend any of the terms, limitations,
conditions or agreements of the attached bond other than as above stated.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><IMG SRC="image_005.jpg" ALT="" STYLE="height: 73px; width: 147px"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">AUTHORIZED REPRESENTATIVE</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&copy; All rights reserved.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
11</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in"></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 12</B></P>

<P STYLE="font: 10.5pt/12.6pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt/11.55pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>COSURETY RIDER</B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">It is agreed
that:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">The term &quot;Underwriter&quot; as used in the attached bond shall be construed to mean, unless
otherwise specified in this rider, all the Companies executing the attached bond.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">Each of said Companies shall be liable only for such proportion of any Single Loss under the attached
bond as the amount underwritten by such Company, as specified in the Schedule forming a part hereof, bears to the Aggregate Limit
of Liability of the attached bond, but in no event shall any of said Companies be liable for an amount greater than that underwritten
by it.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">In the absence of a request from any of said Companies to pay premiums directly to it, premiums
for the attached bond may be paid to the Controlling Company for the account of all of said Companies.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">In the absence of a request from any of said Companies that notice of claim and proof of loss be
given to or filed directly with it, the giving of such notice to and the filing of such proof with, the Controlling Company shall
be deemed to be in compliance with the conditions of the attached bond for the giving of notice of loss and the filing of proof
of loss, if given and filed in accordance with said conditions.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify">The Controlling Company may give notice in accordance with the terms of the attached bond, terminating
or cancelling the attached bond as an entirety or as to any Employee, and any notice so given shall terminate or cancel the liability
of all of said Companies as an entirety or as to such Employee, as the case maybe.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.</TD><TD STYLE="text-align: justify">Any Company other than the Controlling Company may give notice in accordance with the terms of
the attached bond, terminating or canceling the entire liability of such other Company under the attached bond or as to any Employee.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">7.</TD><TD STYLE="text-align: justify">In the absence of a request from any of said Companies that notice of termination or cancellation
by the Insured of the attached bond in its entirety be given to or filed directly with it, the giving of such notice in accordance
with the terms of the attached bond to the Controlling Company shall terminate or cancel the liability of all of said Companies
as an entirety. The Insured may terminate or cancel the entire liability of any Company, other than the Controlling Company, under
the attached bond by giving notice of such termination or cancellation to such other Company, and shall send copy of such notice
to the Controlling Company.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0.95pt 0 0 0.55in; text-align: justify; text-indent: -0.55in">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
12</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0.95pt; margin-bottom: 0; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0.95pt 0 0 0.55in; text-align: justify; text-indent: -0.55in">&nbsp;</P>

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 12 </B>(Continued)</P>

<P STYLE="font: 10.5pt/12.6pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt/11.55pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0.95pt 0 0 0.55in; text-align: justify; text-indent: -0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0.95pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.55in">8.</TD><TD STYLE="text-align: justify">In the event of the termination or cancellation of the attached bond as an entirety, no Company
shall be liable to the Insured for a greater proportion of any return premium due the Insured than the amount underwritten by such
Company bears to the Aggregate Limit of Liability of the attached bond.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 12.85pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.55in">9.</TD><TD STYLE="padding-right: 0.25in">In the event of termination or cancellation of the attached bond as to any Company, such Company
alone shall be liable to the Insured for any return premium due the Insured on account of such termination or cancellation. The
termination or cancellation of the attached bond as to any Company other than the Controlling Company shall not terminate, cancel
or otherwise affect the liability of the other Companies under the attached bond.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 12.4pt 0 0 0.5in">Underwritten for the sum of</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0.3pt 0 0 0.5in"><B>$20,000,000</B>, part of <B>$50,000,000</B></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 5%; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="margin-top: 0; margin-bottom: 0"></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;<FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">by:</FONT></P></TD>
    <TD STYLE="vertical-align: bottom; width: 43%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">National Union Fire Insurance Company</P>
        <P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">of Pittsburgh, Pa.</P>
        <P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">Controlling Company</P></TD>
    <TD STYLE="vertical-align: top; width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 25.85pt 0 0 0.5in">Underwritten for the sum of</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0.3pt 0 38.8pt 0.5in"><B>$15,000,000</B>, part of <B>$50,000,000</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 7%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">by:</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 38%; padding-right: 5.4pt; padding-left: 5.4pt">
<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 0.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD>
    <TD STYLE="vertical-align: top; width: 5%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">Continental Insurance Company</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
12</I></B></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0 0 12pt"></P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 12pt">&nbsp;</P>


<!-- Field: Page; Sequence: 47 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 12 </B>(Continued)</P>

<P STYLE="font: 10.5pt/12.6pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0.1pt 0 24pt">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 30pt 0.5in">Underwritten for the sum of<BR>
<B>$10,000,000</B>, part of <B>$50,000,000</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 7%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">by:</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 41%; padding-right: 5.4pt; padding-left: 5.4pt">
<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 0.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD>
    <TD STYLE="vertical-align: top; width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">U.S. Specialty Insurance Company</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 24pt 0.5in">Underwritten for the sum of<BR>
<B>$5,000,000</B>, part of <B>$50,000,000</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 7%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">by:</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 41%; padding-right: 5.4pt; padding-left: 5.4pt">
<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 0.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD>
    <TD STYLE="vertical-align: top; width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">Berkley Regional Insurance Company</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><IMG SRC="image_005.jpg" ALT="" STYLE="height: 73px; width: 147px"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">AUTHORIZED REPRESENTATIVE</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 0"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&copy; All rights reserved.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
12</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0"></P>


<!-- Field: Page; Sequence: 48 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 13</B></P>

<P STYLE="font: 10.5pt/12.6pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: bold 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center">NOTICE OF CLAIM<BR>
(REPORTING BY E-MAIL)</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 6pt">In consideration of the premium charged, it is hereby understood
and agreed as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify"><I>Email Reporting of Claims: </I>In addition to the postal address set forth for any Notice of
Claim Reporting under this policy, such notice may also be given in writing pursuant to the policy's other terms and conditions
to the Insurer by email at the following email address:</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify">c-claim@<FONT STYLE="color: windowtext">AIG.com
</FONT></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify">Your email must reference the
policy number for this policy. The date of the Insurer's receipt of the emailed notice shall constitute the date of notice.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify">In addition to Notice of Claim
Reporting via email, notice may also be given to the Insurer by mailing such notice to: AIG, Financial Lines Claims, P.O. Box 25947,
Shawnee Mission, KS 66225 or faxing such notice to (866) 227- 1750.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify"><I>Definitions: </I>For this endorsement only, the following definitions shall apply:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">&quot;Insurer&quot; means the &quot;Insurer,&quot; &quot;Underwriter&quot; or &quot;Company&quot;
or other name specifically ascribed in this policy as the insurance company or underwriter for this policy.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">&quot;Notice of Claim Reporting&quot; means &quot;notice of claim / circumstance,&quot; &quot;notice
of loss&quot; or other reference in the policy designated for reporting of claims, loss or occurrences or situations that may
give rise or result in loss under this policy.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">&quot;Policy&quot; means the policy, bond or other insurance product to which this endorsement
is attached.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3</TD><TD STYLE="text-align: justify">This endorsement does not apply to any
Kidnap &amp; Ransom / Extortion Coverage Section, if any, provided by this policy.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 29.4pt 0 0">ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><IMG SRC="image_005.jpg" ALT="" STYLE="height: 73px; width: 147px"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">AUTHORIZED REPRESENTATIVE</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&copy; All rights reserved.</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
13</I></B></P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><B><I>&nbsp;</I></B></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 14</B></P>

<P STYLE="font: 10.5pt/12.6pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0.3pt 0 0 1.2in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0.3pt 0 0 1.2in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>RELIANCE UPON OTHER CARRIER'S APPLICATION
RIDER</B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0.3pt 0 0 1.2in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">It is agreed that:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">In granting coverage under this bond, the Underwriter has relied upon the statements and representations
contained in the below referenced application (including materials submitted thereto and, if such application is a renewal application,
all such previous bond applications and their attachments and materials, for which this bond is a renewal or succeeds in time)
as being accurate and complete.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">The Insured warrants and represents to the Underwriter that the statements and representations
made in such application were accurate on the date such representations and statements were so given and that in connection therewith
the Insured reaffirms each and every statement made in the application to <I>ICI Mutual Insurance Company </I>as accurate as of
<I>April 11, 2012 </I>as if it was made to the Underwriter on such date. All such statements and representations shall be deemed
to be material to the risk assumed by the Underwriter, and are the basis of this bond and are deemed to be considered as incorporated
into this bond.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 28%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif"><U>Type of Bond Application</U></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 36%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif"><U>Carrier</U></FONT></TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 23%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif"><U>Date Signed</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">Alternative Renewal Application</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">ICI Mutual Insurance Company</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">04/10/2018</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">Nothing contained here shall be held to vary, alter, waive or extend any of the terms, limitations,
conditions, or agreements of the attached bond other than as above stated.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><IMG SRC="image_005.jpg" ALT="" STYLE="height: 73px; width: 147px"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">AUTHORIZED REPRESENTATIVE</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&copy; All rights reserved.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END
</I></B></FONT><B><I>14</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 15</B></P>

<P STYLE="font: 10.5pt/12.6pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0.7pt 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center">NEW YORK AMENDATORY ENDORSEMENT</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Wherever used in this endorsement:
1) &quot;Insurer&quot; means the insurance company which issued this policy; and 2) &quot;Insured&quot; means the Named Corporation,
Named Organization, Named Sponsor, Named Insured, Named Entity or Insured stated in the declarations page;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The policy is hereby amended as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">I.</TD><TD STYLE="text-align: justify">The Cancellation and When We Do Not Renew provisions are deleted and replaced by the following:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">CANCELLATION BY THE INSURED</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in; text-align: justify">This policy may be cancelled by
the Insured by surrender of this policy to the Insurer or by giving written notice to the Insurer stating when thereafter such
cancellation shall be effective. The Policy Period terminates at the date and hour specified in such notice, or at the date and
time of surrender.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">CANCELLATION, NONRENEWAL AND CONDITIONAL RENEWAL BY THE INSURER</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">If this policy has been in effect for sixty (60) or fewer days when cancellation notice is mailed,
and this policy is not a renewal of a policy issued by the Insurer, then this policy may be cancelled by the Insurer by mailing
or delivering to the Insured, and to his authorized insurance agent or broker, written notice stating when not less than twenty
(20) days thereafter (fifteen (15) days thereafter if cancellation is because of one of the reasons for cancellation set forth
in subsection (ii) below) the cancellation shall be effective. Notice of cancellation issued by the Insurer shall specify the grounds
for cancellation.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">If this policy has been in effect for more than sixty (60) days when notice of cancellation is
mailed, or if this policy is a renewal of a policy issued by the Insurer, then this policy may be cancelled by the Insurer by
mailing or delivering to the Insured, and to his authorized insurance agent or broker, written notice stating when not less than
fifteen (15) days thereafter the cancellation shall be effective; however, such cancellation must be based on one or more of the
following:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">nonpayment of premium, provided, however, that a notice of cancellation on this ground shall inform
the first Named Insured of the amount due;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">conviction of a crime arising out of acts increasing the hazard insured against;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify">discovery of fraud or material misrepresentation in the obtaining of the policy or in the presentation
of a claim thereunder;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(D)</TD><TD STYLE="text-align: justify">after issuance of the policy or after the last renewal date, discovery of an act or omission, or
a violation of any policy condition, that substantially and materially increases the hazard insured against, and which occurred
subsequent to inception of the current Policy Period;</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center; text-indent: 20pt"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&copy; All rights reserved.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
15</I></B></P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"></P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><B><I>&nbsp;</I><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><U>ENDORSEMENT#
</U></FONT></B><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">15 (continued)</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(E)</TD><TD STYLE="text-align: justify">material change in the nature or extent of the risk, occurring after issuance or last annual renewal
anniversary date of the policy, which causes the risk of loss to be substantially and materially increased beyond that contemplated
at the time the policy was issued or last renewed;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(F)</TD><TD STYLE="text-align: justify">required pursuant to a determination by the New York Superintendent of Insurance that continuation
of the present premium volume of the Insurer would jeopardize the Insurer's solvency or be hazardous to the interests of Insureds
of the Insurer, its creditors or the public;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(G)</TD><TD STYLE="text-align: justify">a determination by the New York Superintendent of Insurance that the continuation of the policy
would violate, or would place the Insurer in violation of, any provision of the New York Insurance Law;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(H)</TD><TD STYLE="text-align: justify">revocation or suspension of an Insured's license to practice his profession; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(I)</TD><TD STYLE="text-align: justify">where the Insurer has reason to believe that there is a probable risk or danger that the Insured
will destroy or perm it the destruction of the insured property for the purpose of collecting the insurance proceeds, provided,
however, that:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">a notice of cancellation on this ground shall inform the Insured in plain language that the Insured
must act within ten days if review by the department of the ground for cancellation is desired pursuant to item (3) of this subparagraph
(I);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">notice of cancellation on this ground shall be provided simultaneously by the Insurer to the department;
and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">upon written request of the Insured made to the department within ten days from the Insured's receipt
of notice of cancellation on this ground, the department shall undertake a review of the ground for cancellation to determine whether
or not the Insurer has satisfied the criteria for cancellation specified in this subparagraph; if after such review the department
finds no sufficient cause for cancellation on this ground, the notice of cancellation on this ground shall be deemed null and void.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">Notice of cancellation
by the Insurer shall specify the grounds for cancellation.</TD></TR>
</TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 180pt; text-align: justify; text-indent: -0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">The Insurer shall mail to the Insured, and to his authorized insurance agent or broker, written
notice indicating the Insurer's intention:</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">not to renew this policy;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">to condition its renewal upon change of limits, change in type of coverage, reduction of coverage,
increased deductible or addition of exclusions or upon increased premiums in excess of ten percent; (exclusive of any premium
increase generated as a result of increased exposure units or as a result of experience rating, Loss rating, or audit);</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center; text-indent: 20pt"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&copy; All rights reserved.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
15</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><B><I>&nbsp;</I><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><U>ENDORSEMENT#
</U></FONT></B><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">15 (continued)</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">that the policy will not be renewed or will not be renewed upon the same terms, conditions or rates;
such alternative renewal notice must be mailed or delivered on a timely basis and advise the Insured that a second notice shall
be mailed at a later date indicating the Insurer's intention as specified in subparagraph (1) or (2) of this paragraph (A) and
that coverage shall continue on the same terms, conditions and rates as expiring, until the later of the expiration date or sixty
(60) days after the second notice is mailed or delivered; such alternative renewal notice also shall advise the insured of the
availability of loss information and, upon written request, the request, the insurer shall furnish such loss information within
ten (10) days to the insured.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">A nonrenewal notice as specified in subparagraph (1), a conditional renewal notice as specified
in subparagraph (2), and the second notice described in subparagraph (3) of paragraph (A) of this subsection (iii) shall contain
the specific reason or reasons for nonrenewal or conditional renewal, and set forth the amount of any premium increase and nature
of any other proposed changes.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(C)</TD><TD STYLE="text-align: justify">The notice required by paragraph (A) of this subsection (iii) shall be mailed at least sixty (60)
but not more than one hundred twenty (120) days in advance of the end of the Policy Period.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(D)</TD><TD STYLE="text-align: justify"></TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">If the Insurer employs an alternative renewal notice as authorized by subparagraph (3) of paragraph
(A) of this subsection (iii), the Insurer shall provide coverage on the same terms, conditions, and rates as the expiring policy,
until the later of the expiration date or sixty (60) days after the mailing of the second notice described in such subparagraph.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">Prior to the expiration date of the policy, in the event that an incomplete or late conditional
renewal notice or a late nonrenewal notice is provided by the Insurer, the Policy Period shall be extended, at the same terms
and conditions as the expiring policy, except that the annual aggregate limit of the expiring policy shall be increased in proportion
to the policy extension, and at the lower of the current rates or the prior period's rates, until sixty (60) days after such notice
is mailed, unless the Insured elects to cancel sooner.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 2in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">In the event that a late conditional renewal notice or a late nonrenewal notice is provided by
the insurer on or after the expiration date of the policy, coverage shall remain in effect on the same terms and conditions of
the expiring policy for another required policy period, and at the lower of the current rates or the prior period's rates unless
the insured during the additional required policy period has replaced the coverage or elects to cancel, in which event such cancellation
shall be on a pro rata premium basis.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">Nothing herein shall be construed to limit the grounds for which the Insurer may lawfully rescind
this policy or decline to pay a claim under this policy.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center; text-indent: 20pt"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&copy; All rights reserved.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END
</I></B></FONT><B><I>15</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center"></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><B><I>&nbsp;</I><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><U>ENDORSEMENT#
</U></FONT></B><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">15 (continued)</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">Notice required herein to be mailed to the Insured shall be mailed to the Insured at the address
shown in Item 1 of the Declarations.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1.5in; text-align: justify">Notice required herein to be
m ailed by the Insurer shall be sent by registered, certified or other first class mail. Delivery of written notice shall be equivalent
to mailing.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1.5in; text-align: justify">Proof of mailing of such notice
as aforesaid shall be sufficient proof of notice. The Policy Period shall terminate at the effective date and hour of cancellation
or nonrenewal specified in such notice.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(vi)</TD><TD STYLE="text-align: justify">If this policy shall be cancelled by the Insured, the Insurer shall retain the customary short
rate proportion of the premium hereon.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1.5in; text-align: justify">If this policy shall be cancelled
by the Insurer, the Insurer shall retain the pro rata proportion of the premium hereon.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1.5in; text-align: justify">Payment or tender of any unearned
premium by the Insurer shall not be a condition of cancellation, but such payment shall be made as soon as practicable.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">ALL OTHER
TERMS, CONDITIONS AND EXCLUSIONS REMAIN UNCHANGED.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><IMG SRC="image_005.jpg" ALT="" STYLE="height: 73px; width: 147px"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">AUTHORIZED REPRESENTATIVE</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&copy; All rights reserved.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END
</I></B></FONT><B><I>15</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 16</B></P>

<P STYLE="font: 10.5pt/12.6pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0.7pt 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center">NEW YORK AMENDATORY ENDORSEMENT
&ndash; NY STATUTE 3420</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Wherever used in this endorsement:
1) &ldquo;we&rdquo;, &quot;us&quot;, &quot;our' and &quot;Insurer&quot; mean the insurance company which issued this policy; 2)
&quot;you&quot;, &quot;your&rdquo; &quot;Insured&quot; and &quot;first Named Insured&quot; mean the Named Corporation, Named Entity,
Named Organization, Named Sponsor, Named Insured, or Insured stated in the declarations page; 3) &quot;other insured(s)&quot; means
all other persons or entities afforded coverage under the policy; 4) &quot;Discovery Period&quot; means Discovery Period or Extended
Reporting Period, as defined in the policy; and 5) &quot;Claim &quot; means Claim or Suit as defined in the policy.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">It is hereby understood and agreed
that the policy is amended as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">A.</TD><TD STYLE="text-align: justify">The following provisions are hereby added to the policy:</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify"><B>FAILURE TO GIVE NOTICE
WITHIN PRESCRIBED TIME:</B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in; text-align: justify">Failure to give any notice required
to be given by this policy, or any policy of which this is a renewal, within the prescribed time shall not invalidate any Claim
made against an Insured if:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">it shall be shown not to have been reasonably possible to give notice within the prescribed time
and that notice was given as soon as was reasonably possible thereafter; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">the failure to provide timely notice has not prejudiced the Insurer.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in; text-align: justify">Any such Claim shall be deemed
to have been first made against the Insured and noticed to the Insurer within the Policy Period or Discovery Period of the policy
issued by the Insurer (the &quot;Noticed Policy&quot;) in which the Insurer received notice of the Claim; provided that the coverage
afforded with respect to the Noticed Policy shall be in an amount <U>not greater than</U> the amount of coverage afforded with
respect to the Policy Period of the policy issued by the Insurer (the &quot;Former Policy&quot;) in which the Claim was actually
first made against the Insured. The foregoing sentence may result in (but not be limited to): (1) reducing the limit of liability
available for such a Claim to the available limit of liability applicable to the Former Policy; (2) increasing the applicable
retention amount to that retention amount applicable to the Former Policy; or (3) reducing or eliminating coverage due to exclusions
or other restrictions appearing in the Former Policy but eliminated, in part or in whole, in the Noticed Policy. No coverage
shall be afforded under this endorsement if there was not in existence a Former Policy at the time the Claim was actually first
made against the Insured.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in; text-align: justify">With respect to subsection (b)
above, any such Claim must be noticed during the Policy Period or Discovery Period of a Noticed Policy which is a renewal or extension
of the Former Policy.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in; text-align: justify">Nothing in this endorsement shall
be construed to provide coverage for a Claim under more than one Policy Period or Discovery Period.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify"><B>PREJUDICE</B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center; text-indent: 20pt"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&copy; All rights reserved.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
<FONT STYLE="letter-spacing: -1.7pt">0</FONT>16</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in">Page 1 of
2</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 16 </B>(continued)</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in; text-align: justify">In the event that the Insurer
alleges that it was prejudiced as a result of a failure to give notice within the time required under the policy, the burden of
proof shall be on:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">the Insurer to prove that it has been prejudiced, if the notice was provided within two years of
the time required under the policy; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">the Insured to prove that the Insurer has not been prejudiced, if the notice was provided more
than two years after the time required under the policy.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in; text-align: justify">The Insurer's rights shall not
be deemed prejudiced unless the failure to timely provide notice materially impairs the ability of the Insurer to investigate or
defend the Claim.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in; text-align: justify">Notwithstanding the above, an
irrebuttable presumption of prejudice shall apply if, prior to the notice, the Insured's liability has been determined by a court
of competent jurisdiction or by a binding arbitration; or if the Insured has resolved the Claim by settlement or other compromise.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify"><B>NOTICE TO AGENT:</B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in; text-align: justify">Notice given by or on behalf of
the Insured, or written notice by or on behalf of the injured party or any other claimant, to any licensed agent of the Insurer
in the state of New York, with particulars sufficient to identify the Insured, shall be deemed notice to the Insurer.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify"><B>INSOLVENCY/ BANKRUPTCY OF
INSURED:</B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in; text-align: justify">The insolvency or bankruptcy of
the Insured shall not relieve the Insurer of its obligations under this policy as long as all policy requirements are met by Insured,
its trustee or receiver in bankruptcy. Should a covered judgment be rendered against an insolvent or bankrupt Insured, the Insurer
shall be liable for the amount of such judgment not to exceed the applicable limit of liability under this policy.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">B.</TD><TD STYLE="text-align: justify">The Clause entitled, &quot;Action Against Us&quot; or &quot;Action Against Company&quot; is deleted
in its entirety and replaced with the following:</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in; text-align: justify">No one may bring an action against
us unless there has been full compliance with all the terms of this policy and the amount of the Insured's obligation to pay has
been finally determined either by:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">judgment against the Insured which remains unsatisfied at the expiration of thirty (30) days from
the service of notice of entry of the judgment upon the Insured and upon us; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">2</TD><TD STYLE="text-align: justify">written agreement of the Insured, the claimant and us.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in; text-align: justify">Any person or organization or
legal representative thereof who has secured such judgment or written agreement shall thereafter be entitled to recover under this
policy to the extent of the insurance afforded by this policy. We may not be impleaded by the Insured or its legal representative
in any legal action brought against the Insured by any person or organization.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS
REMAIN UNCHANGED.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><IMG SRC="image_005.jpg" ALT="" STYLE="height: 73px; width: 147px"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">AUTHORIZED REPRESENTATIVE</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; text-align: center; text-indent: 20pt"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&copy; All rights reserved.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
<FONT STYLE="letter-spacing: -1.7pt">0</FONT>16</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in">Page 2 of
2</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 12pt; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 17</B></P>

<P STYLE="font: 10.5pt/12.6pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>AMENDED INSURED RIDER</B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In consideration of the premium charged,
it is hereby understood and agreed that Item 1. Declarations page, Name of Insured is amended to include the following entities,
however, solely with respect those individuals meeting the requirements in subparagraph (9) in the definition of Employee;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD>AllianceBernstein L.P.,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD>AllianceBernstein Holding L.P.,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD>AllianceBernstein Corporation,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.</TD><TD>AllianceBernstein Investments, Inc.,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.</TD><TD>AllianceBernstein Global Derivatives Corporation,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.</TD><TD>AllianceBernstein Investor Services, Inc., and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">7.</TD><TD>Sanford C. Bernstein &amp; Co., LLC.</TD></TR></TABLE>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">Nothing herein contained shall be
held to vary, alter, waive or extend any of the terms, limitations, conditions or agreements of the attached bond other than as
above stated.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 12.75pt 0.35in 0 0.15in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><IMG SRC="image_005.jpg" ALT="" STYLE="height: 73px; width: 147px"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">AUTHORIZED REPRESENTATIVE</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 12.75pt 0.35in 0 0.15in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 12.75pt 0.35in 0 0.15in">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 12.75pt; text-align: center; margin-bottom: 0; text-indent: 20pt"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&copy; All rights reserved.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
17</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 12.75pt; text-align: center; margin-bottom: 0"></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 18</B></P>

<P STYLE="font: 10.5pt/12.6pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>SPECIFIC ENTITY EXCLUSION</B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">In consideration of the premium charged,
it is hereby understood and agreed that this bond does not cover any loss of AllianceBernstein U.S. Real Estate (Employee) Fund
II, L.P. (including any subsidiary or employee thereof).</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS
REMAIN UNCHANGED.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 26.1pt 0 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><IMG SRC="image_005.jpg" ALT="" STYLE="height: 73px; width: 147px"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">AUTHORIZED REPRESENTATIVE</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 26.1pt; text-align: center; margin-bottom: 0"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&copy; All rights reserved.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
<FONT STYLE="letter-spacing: -1.7pt">18</FONT></I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 26.1pt; text-align: center; margin-bottom: 0"></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 19</B></P>

<P STYLE="font: 10.5pt/12.6pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0.25pt 0 13.65pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>FORMS INDEX ENDORSEMENT</B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The contents of the Policy is comprised
of the following forms:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10.5pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">FORM NUMBER</FONT></TD>
    <TD STYLE="width: 17%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">EDITION DATE</FONT></TD>
    <TD STYLE="width: 65%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">FORM TITLE</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">MNSCPT</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">INVESTMENT COMPANY BLANKET BOND - DECLARATIONS</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">41206</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">09/84</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">INVESTMENT COMPANY BLANKET BOND GUTS</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">SR 6180b</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">12/93</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">NEW YORK STATUTORY RIDER</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">MNSCPT</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">NAMED INSUREDS</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">MNSCPT</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">AMENDED INSURING AGREEMENT (A) FIDELITY</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">MNSCPT</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">AMENDED INSURING AGREEMEN (B) AUDIT EXPENSE</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">119679</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">09/15</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">ECONOMIC SANCTIONS ENDORSEMENT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">MNSCPT</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">AMENDED INSURING AGREEMENT (G) COUNTERFEIT CURRENCY</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">MNSCPT</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">COMPUTER SYSTEMS</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">MNSCPT</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">TELEFACSIMILE TRANSFER FRAUD</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">MNSCPT</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">AUTOMATED PHONE SYSTEMS</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">MNSCPT</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">AUTOMATIC COVERAGE</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">MNSCPT</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">AMEND SECTION 13., TERMINATION</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">MNSCPT</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">COSURETY RIDER</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">99758</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">08/08</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">NOTICE OF CLAIM (REPORTING BY E-MAIL)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">MNSCPT</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">RELIANCE UPON OTHER CARRIER'S APPLICATION RIDER</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">69898</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">09/06</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">NEW YORK AMENDATORY - CANCELLATION/NONRENEWAL</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">83231</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">01/09</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">NEW YORK LAW 3420 AMENDATORY ENDORSEMENT</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">MNSCPT</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">AMENDED INSURED RIDER</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">MNSCPT</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">SPECIFIC ENTITY EXCLUSION</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">78859</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">10/01</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">FORMS INDEX ENDORSEMENT</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&copy; All rights reserved.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
<FONT STYLE="letter-spacing: -1.7pt">0</FONT>19</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in">Page 1 of
2</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 0"></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/12.6pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center"><B><U>ENDORSEMENT#</U> 19</B></P>

<P STYLE="font: 10.5pt/12.6pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">This endorsement, effective</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>12:01 am</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>May 15, 2018</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">forms a part of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">policy number</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">issued to:</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>AllianceBernstein Complex of Registered Investment Companies</I></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt">by</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 9pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0.25pt 0 13.65pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>FORMS INDEX ENDORSEMENT</B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: justify">The contents of the Policy is comprised
of the following forms:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10.5pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">FORM NUMBER</FONT></TD>
    <TD STYLE="width: 17%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">EDITION DATE</FONT></TD>
    <TD STYLE="width: 65%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">FORM TITLE</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">ALL OTHER TERMS, CONDITIONS AND EXCLUSIONS REMAINED UNCHANGED.</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 26.1pt 0 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10.5pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><IMG SRC="image_005.jpg" ALT="" STYLE="height: 73px; width: 147px"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">AUTHORIZED REPRESENTATIVE</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 0"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0; text-align: center">&copy; All rights reserved.</P>

<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Univers ATT,sans-serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in"><FONT STYLE="letter-spacing: 0.1pt"><B><I>END</I></B></FONT><B><I>
<FONT STYLE="letter-spacing: -1.7pt">0</FONT>19</I></B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 1in; text-align: center; text-indent: -0.5in">Page 2 of
2</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10.5pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><IMG SRC="image_002.jpg" ALT="" STYLE="height: 75px; width: 118px"></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>CLAIM REPORTING FORM</B></P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10.5pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">Issuing Company:</FONT></TD>
    <TD STYLE="width: 80%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 12pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10.5pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 39%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">Reported undedr Policy/Bond Number:</FONT></TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 29%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">Date:</FONT></TD>
    <TD STYLE="width: 20%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10.5pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 21%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">Type of Coverage:</FONT></TD>
    <TD STYLE="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 10pt">D&amp;O</FONT></TD>
    <TD STYLE="width: 5%">____</TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt"></TD>
    <TD STYLE="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt">E<FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">&amp;O</FONT></TD>
    <TD STYLE="width: 6%">____</TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 8%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">Fidelity</FONT></TD>
    <TD STYLE="width: 5%">____</TD>
    <TD STYLE="width: 39%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">(complete
    the Fidelity Supplemental on the next page)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0pt">&nbsp;&nbsp;Insured&rsquo;s name, as given on Policy Declarations (Face Page):</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt 0.5in; text-align: justify"><I><U>AllianceBernstein Complex
of Registered Investment Companies</U></I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10.5pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">Contact Person:</FONT></TD>
    <TD COLSPAN="12" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">Title:</FONT></TD>
    <TD COLSPAN="15" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">Phone:</FONT></TD>
    <TD COLSPAN="7" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">(&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">Ext
</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">eMail:</FONT></TD>
    <TD COLSPAN="9" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">@</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="6" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="16" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">Case or Claimant Name:</FONT></TD>
    <TD COLSPAN="11" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="16" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">If
    the party involved is different from &ldquo;Insured&rdquo; Name (as given on Policy Declarations) state relationship:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="16" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="6" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt; letter-spacing: -0.2pt">Insurance </FONT><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">Broker/Agent:</FONT></TD>
    <TD COLSPAN="11" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 12pt"><I>AON RISK SERVICES NORTHEAST INC</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">Address:</FONT></TD>
    <TD COLSPAN="13" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 12pt"><I>199 WATER ST, NEW YORK, NY 10038-3526</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">Address:</FONT></TD>
    <TD COLSPAN="13" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">Contact:</FONT></TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 12pt"><I>CARA LATORRE</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">Phone:</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">Ext</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">eMail:</FONT></TD>
    <TD COLSPAN="13" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 12pt">Cara.latorre@aon.ars.com</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="16" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="6" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="16" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="height: 0px">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 26%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10.5pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">Send Notice of Claims to:</FONT></TD>
    <TD STYLE="width: 32%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">AIG</FONT></TD>
    <TD STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">Phone:</FONT></TD>
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">(888) 602-5246</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">Financial Lines Claims</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">Fax:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">(866) 227-1750</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">P.O. Box 25947</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">Email:</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt; color: #00007F">c-Claim@AIG.com</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt; letter-spacing: -0.25pt">Shawnee </FONT><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt; letter-spacing: -0.15pt">Mission, </FONT><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">KS 66225</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 197px; width: 579px">&nbsp;</P>

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<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10.5pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><IMG SRC="image_002.jpg" ALT="" STYLE="height: 75px; width: 118px"></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0 0 12pt; text-align: center"><B>CLAIM REPORTING FORM</B><BR>
<B>FIDELITY SUPPLEMENTAL</B><BR>
(Only complete this supplemental if the Claim is being reported under Fidelity Coverage)</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10.5pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">Issuing Company:</FONT></TD>
    <TD STYLE="width: 80%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif; font-size: 12pt"><B><I>National Union Fire Insurance Company of Pittsburgh, Pa.</I></B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10.5pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 39%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif">Reported under Policy/Bond Number:</FONT></TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 29%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Tahoma, Helvetica, Sans-Serif"><B><I>01-421-20-69</I></B></FONT></TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10.5pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 33%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Tahoma, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10.5pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 17%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 9pt">Date
    of Discovery:</FONT></TD>
    <TD STYLE="width: 29%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 4%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 24%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 9pt">Estimated
    Amount of loss:</FONT></TD>
    <TD STYLE="width: 26%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10.5pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 17%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">Cause of Loss:</FONT></TD>
    <TD STYLE="width: 26%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">Employee Dishonesty</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 7%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 19%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">Computer Fraud</FONT></TD>
    <TD STYLE="width: 7%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">Funds Transfer</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">Robbery/Burglary</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">ID Theft</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">Forgery</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">Client Property</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">In Transit</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt; letter-spacing: -0.15pt">ERISA</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 9pt">Credit
    Card Forgery</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt; letter-spacing: -0.15pt">Other</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Univers ATT,sans-serif; font-size: 10pt">if <FONT STYLE="letter-spacing: -0.2pt">Other,</FONT> describe:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
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<P STYLE="font: 14pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right">Exhibit B&nbsp;</P>

<P STYLE="font: 14pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-variant: small-caps">Registered
Investment Companies Joint Fidelity Bond Agreement</FONT></P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">Agreement</FONT>
made as of May 14, 2018, by and among AB Bond Fund, Inc., AB Cap Fund, Inc., AB Core Opportunities Fund, Inc., AB Corporate Shares,
AB Discovery Growth Fund, Inc., AB Equity Income Fund, Inc., AB Fixed-Income Shares, Inc., AB Global Bond Fund, Inc., AB Global
Real Estate Investment Fund, Inc., AB Global Risk Allocation Fund, Inc., AB High Income Fund, Inc., AB Institutional Funds, Inc.,
AB Large Cap Growth Fund, Inc., AB Municipal Income Fund, Inc., AB Municipal Income Fund II, AB Relative Value Fund, Inc., AB Sustainable
Global Thematic Fund, Inc., AB Sustainable International Thematic Fund, Inc., AB Trust, AB Unconstrained Bond Fund, Inc., AB Variable
Products Series Fund, Inc., Sanford C. Bernstein Fund II, Inc., The AB Portfolios, AllianceBernstein Global High Income Fund, Inc.,
AllianceBernstein National Municipal Income Fund, Inc., Alliance California Municipal Income Fund, Inc., AB Multi-Manager Alternative
Fund, Bernstein Fund, Inc., Sanford C. Bernstein Fund, Inc., (collectively, the &#8220;<U>investment companies</U>&#8221;) and
AllianceBernstein L.P. (&#8220;<U>AB</U>&#8221;)</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">Whereas</FONT>,
the investment companies that are parties to this Agreement are management investment companies registered under the Investment
Company Act of 1940, as amended (the &#8220;<U>Act</U>&#8221;); and</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">Whereas</FONT>,
AB provides investment advisory services and/or certain administrative and financial services to the investment companies; and</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">Whereas</FONT>,
pursuant to Rule 17g-1, as amended, promulgated under the Act, registered management investment companies must provide and maintain
fidelity bonds covering larceny and embezzlement by certain of their officers and employees in amounts no less than stated minimums
based upon the gross assets of such registered management investment companies; and</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">Whereas</FONT>,
pursuant to Rule 17g-1(b) under the Act, registered management investment companies that are managed and/or whose shares are distributed
by the same person may obtain joint coverage as insureds under a single fidelity bond (a &#8220;<U>joint fidelity bond</U>&#8221;);
and</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">Whereas</FONT>,
the investment companies are registered management investment companies managed by AB; and</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">Whereas</FONT>,
the investment companies desire to obtain coverage under one joint fidelity bond; and</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">Whereas</FONT>,
the Board of Directors of the Sanford C. Bernstein Fund, Inc. (&#8220;<U>SCB Fund</U>&#8221;) and the Bernstein Fund, Inc. (&#8220;<U>Bernstein
Fund</U>&#8221; and, together with SCB Fund, &#8220;<U>SCB Funds</U>&#8221;) elects to calculate the required amounts of fidelity
bond coverage on a basis that treats each portfolio of either SCB Fund or Bernstein Fund as a separate registered management investment
company for purposes of Rule 17g-1, even though not required to do so under the Rule; and</P>


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<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">Whereas</FONT>,
the AB Multi-Manager Alternative Fund (&#8220;<U>MMA Fund</U>&#8221;) is composed of a single portfolio; and</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">Whereas</FONT>,
the Boards of Directors or Trustees of each investment company that is a party to this Agreement other than SCB Fund, Bernstein
Fund and MMA Fund (each such investment company, an &#8220;<U>AB Fund</U>&#8221;, and together, the &#8220;<U>AB Funds</U>&#8221;)
that has multiple portfolios elects to calculate the required amounts of fidelity bond coverage on a basis that treats such an
investment company as a single registered management investment company for purposes of Rule 17g-1; and</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">Whereas</FONT>,
the Board of Directors or Trustees of each of the investment companies which are parties to this Agreement, including a majority
of the Directors or Trustees, as applicable, who are not &#8220;interested persons&#8221; of such investment company as defined
by Section 2(a)(19) of the Act (&#8220;<U>Disinterested Directors/Trustees</U>&#8221;), has approved coverage under one joint
fidelity bond with each of the other investment companies that are parties to this Agreement in the respective amounts set forth
in Schedule A to this Agreement.</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">Now</FONT>,
<FONT STYLE="font-variant: small-caps">Therefore</FONT>, it is agreed as follows:</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">1. That
the investment companies that are parties to this Agreement and AB will be named as insureds and will be covered under a joint
fidelity bond with National Union Fire Insurance Co., U.S. Specialty Insurance Company, Continental Insurance Company, Berkley
Regional Insurance Company and Crum &amp; Forster Insurance Company (each, a &#8220;<U>fidelity insurance company</U>&#8221; and
collectively, the &#8220;<U>fidelity insurance companies</U>&#8221;) in the aggregate amount of $70,950,000 at a total annual
cost of $218,995, each such investment company having specific coverage in accordance with Rule 17g-1(d). The required coverage
amount (calculated pursuant to the elections of the respective Boards) for each investment company is also shown opposite the
name of each investment company in a separate column on Schedule A. For the avoidance of doubt, the amount of coverage under the
joint fidelity bond shall at all times be at least equal in amount to the total amount of coverage which each investment company
would have been required to provide and maintain individually pursuant to the schedule set forth in paragraph (d)(i) of Rule 17g-1
under the Act had each investment company not been named an insured under the joint fidelity bond.</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">2. No premium
shall be paid by an investment company under the joint fidelity bond unless that investment company&#8217;s Board of Directors
or Trustees, as applicable, including a majority of the Disinterested Directors/Trustees, shall have approved the portion of the
premium to be paid by that investment company. The premium payable on the joint fidelity bond shall be allocated among the investment
companies in the respective amounts set forth opposite the name of each investment company listed on Schedule A in the column entitled
&#8220;Allocated Cost&#8221;.</P>


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<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">3. AB has
been named an insured under the joint fidelity bond for administrative convenience. The parties agree that in no event shall AB
be entitled to retain any recovery payable under the joint fidelity bond, although it may receive payments which will be distributed
to one or more investment companies to facilitate the administration of the joint fidelity bond.</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">4. (a) In
the event that one or more of the investment companies sustains a loss for which recovery is received under the joint fidelity
bond, each such investment company shall receive that portion of the recovery which is sufficient in amount to indemnify that party
in full for the loss sustained by it (other than the portion thereof subject to a deductible), unless the recovery is inadequate
to fully indemnify all investment companies for such losses by them (other than the portions thereof subject to deductibles).</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 67.5pt">(b) If the
recovery is inadequate to indemnify fully each such investment company for losses sustained by it (other than the portion thereof
subject to a deductible), the recovery shall be allocated as follows, to the extent applicable:</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(i) The AB
Funds shall be allocated an aggregate amount equal to the lesser of (A) their actual aggregate loss (net of any deductibles) and
(B) the sum of $41,400,000 plus the difference between: (1) $28,300,000 and the amount of the loss recovered by the SCB Funds under
clause (ii), and (3) $1,250,000 and the amount of the loss recovered by the MMA Fund under clause (iii). Such amount shall be allocated
among the AB Funds on an equitable and proportionate basis as determined by their respective Boards of Directors or Trustees, but
each AB Fund shall be allocated an amount at least equal to the amount which it would have received had it procured and maintained
a single insured bond with the minimum coverage required by Rule 17g-1(d)(1).</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(ii) The SCB
Funds shall be allocated an aggregate amount equal to the lesser of (A) their actual aggregate loss (net of any deductibles) and
(B) the sum of $28,300,000 plus the difference between: (1) $41,400,000 and the amount of the loss recovered by the AB Funds under
clause (i) and (2) $1,250,000 and the amount of the loss recovered by the MMA Fund under clause (iii). Such amounts shall be allocated
among the portfolios of the SCB Fund on an equitable and proportionate basis as determined by the Board of Directors of the SCB
Fund, but each such portfolio shall be allocated an amount at least equal to the amount which it would have received had it procured
and maintained a single insurance bond with the minimum coverage required by Rule 17g-1(d)(1), assuming that each such portfolio
would be deemed a separate registered investment company for such purposes.</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(iii) MMA Fund
shall be allocated an aggregate amount equal to the lesser of (A) its actual loss (net of any deductibles) and (B) the sum of $1,250,000
plus the difference between: (1) $41,400,000 and the amount of the loss recovered by the AB Funds under clause (i) and (2) $28,300,000
and the amount of the loss recovered by the SCB Funds under clause (ii). Such amount shall be at least equal to the amount which
MMA Fund would have received had it procured and maintained a single insurance bond with the minimum coverage required by Rule
17g-1(d)(1).</P>


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<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(iv) Where
a compromise results in recovery by any or all of the investment companies of less than the full amount of its (or their) actual
aggregate loss covered by the joint fidelity bond, the recovery shall be allocated consistent with clauses (i), (ii) and (iii)
above among the investment companies that sustained such loss, without regard to the proportion of the actual aggregate loss recovered,
and with the $41,400,000, $28,300,000 and $1,250,000 amounts being reduced proportionate to any reduction to the $70,950,000 total
insured bond as a result of such compromise unless the compromise was based on facts and circumstances particular to one or more,
but fewer than all, insured parties seeking to recover, in which case any or all of the $41,400,000, $28,300,000 or $1,250,000
amounts will be adjusted in an equitable manner taking into account the particular facts and circumstances and the principles reflected
above.</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">5. This Agreement
may not be amended or modified in any manner except by a written agreement executed by all parties hereto.</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">6. This Agreement
shall be governed by and construed in accordance with the laws of the State of New York.</P>


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<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">IN WITNESS
WHEREOF, each of the parties has caused this Agreement to be executed in its name and on its behalf by its authorized representative
effective as of the day and year first written above.</P>

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<TR>
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    <TD STYLE="vertical-align: bottom; width: 52%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 30%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.5pt solid">/s/ Emilie D. Wrapp</P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0">Emilie D. Wrapp</P>
        <P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0">Secretary for each of the Investment Companies</P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

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<TR>
    <TD STYLE="vertical-align: top; width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 52%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 30%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.5pt solid">/s/ David M. Lesser</P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0">David M. Lesser</P>
        <P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0">Corporate Secretary for AllianceBernstein L.P.</P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>


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<P STYLE="font: 12pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"></P>

<P STYLE="font: 14pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-variant: small-caps"><U>Schedule
A</U></FONT></P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Registered Management Investment Companies </FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Allocated Cost ($)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Bond Amount ($)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">AB Bond Fund, Inc. </FONT></TD>
    <TD STYLE="width: 24%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">7,716.53</FONT></TD>
    <TD STYLE="width: 4%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 23%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">2,500,000</FONT></TD>
    <TD STYLE="width: 4%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">AB Cap Fund, Inc.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">7,716.53</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">2,500,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">AB Core Opportunities Fund, Inc.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">2,314.96</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">750,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">AB Corporate Shares </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">5,864.56</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">1,900,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">AB Discovery Growth Fund, Inc. </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">5,247.24</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">1,700,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">AB Equity Income Fund, Inc.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">2,777.95</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">900,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">AB Fixed-Income Shares, Inc.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">7,716.53</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">2,500,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">AB Global Bond Fund, Inc.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">7,716.53</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">2,500,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">AB Global Real Estate Investment Fund, Inc. </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">1,851.97</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">600,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">AB Global Risk Allocation Fund, Inc.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">2,314.96</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">750,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">AB High Income Fund, Inc. </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">7,716.53</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">2,500,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">AB Institutional Funds, Inc. </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">2,314.96</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">750,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">AB Large Cap Growth Fund, Inc.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">7,716.53</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">2,500,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">AB Municipal Income Fund, Inc. </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">7,716.53</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">2,500,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">AB Municipal Income Fund, II</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">3,858.26</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">1,250,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">AB Relative Value Fund, Inc.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">4,629.92</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">1,500,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">AB Sustainable Global Thematic Fund, Inc.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">3,858.26</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">1,250,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">AB Sustainable International Thematic Fund, Inc.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">2,314.96</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">750,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">AB Trust </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">7,099.20</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">2,300,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">AB Unconstrained Bond Fund, Inc.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">2,314.96</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">750,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">AB Variable Products Series Fund, Inc.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">7,716.53</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">2,500,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Sanford C. Bernstein Fund II, Inc. </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">3,086.61</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">1,000,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">The AB Portfolios</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">7,716.53</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">2,500,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">AllianceBernstein Global High Income Fund, Inc. </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">3,858.26</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">1,250,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">AllianceBernstein National Municipal Income Fund, Inc. </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">2,777.95</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">900,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Alliance California Municipal Income Fund, Inc.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">1,851.97</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">600,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Bernstein Fund, Inc.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Small Cap Portfolio</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">3,086.61</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">1,000,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">International Small Cap Portfolio</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">3,858.26</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">1,250,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">International Strategic Equities Portfolio</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">7,716.53</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">2,500,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Sanford C. Bernstein Fund, Inc.</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">California Municipal Portfolio </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">3,858.26</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">1,250,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Diversified Municipal Portfolio</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">7,716.53</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">2,500,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Emerging Markets Portfolio</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">4,629.92</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">1,500,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Intermediate Duration Portfolio </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">7,716.53</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">2,500,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">International Portfolio </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">4,629.92</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">1,500,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">New York Municipal Portfolio </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">4,629.92</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">1,500,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; line-height: 115%; width: 45%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Short Duration Diversified Municipal Portfolio</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%; width: 24%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">1,851.97</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%; width: 4%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%; width: 23%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">600,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%; width: 4%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Short Duration Portfolio </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">2,314.96</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">750,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Tax-Managed International Portfolio </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">7,716.53</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">2,500,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Overlay A Portfolio </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">5,247.24</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">1,700,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Overlay B Portfolio </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">3,858.26</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">1,250,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Tax-Aware Overlay A Portfolio </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">7,716.53</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">2,500,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Tax-Aware Overlay B Portfolio </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">5,247.24</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">1,700,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Tax-Aware Overlay C Portfolio </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">2,777.95</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">900,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Tax-Aware Overlay N Portfolio </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">2,777.95</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">900,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">AB Multi-Manager Alternative Fund</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">3,858.26</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">1,250,000</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Totals</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><B>$218,995.00</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><B>$70,950,000</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 115%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Courier New, Courier, Monospace; margin: 0">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt/normal Courier New, Courier, Monospace; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Exhibit C-1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 12pt">CERTIFICATE OF ASSISTANT SECRETARY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">THE AB FUNDS*</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Regarding Fidelity Bond</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.45in">The undersigned, being duly elected
and qualified Assistant Secretary of the Funds listed on Schedule A (attached hereto), hereby certifies that attached hereto is
a true and complete copy of the resolutions that were approved by the Board of Directors/Trustees of the Funds at a meeting held
on May 1-3, 2018, at which a quorum was present and voted in favor thereof, and that said resolutions have not been revoked or
amended and are now in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt 0; text-indent: 0.45in">IN WITNESS WHEREOF, the undersigned
has executed this Certificate as Assistant Secretary of the above-referenced Funds on this 24th day of May, 2018.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; text-align: left">
    <TD STYLE="width: 48%; padding-right: 53pt; padding-bottom: 12pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 31%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 9.9pt">/s/Stephen J. Laffey</TD>
    <TD STYLE="width: 21%; padding-right: 53pt; padding-bottom: 12pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 53pt; padding-bottom: 12pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.9pt 12pt 0">Stephen J. Laffey<BR>
Assistant Secretary</P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 53pt; padding-bottom: 12pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 53pt 12pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1.1in 12pt 3.65in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.05in 12pt 0; text-indent: 0.5in">RESOLVED, that the Board of Directors/Trustees
hereby determines that participation by the Funds in a joint fidelity bond underwritten by National Union Fire Insurance Company,
U.S. Specialty Insurance Company, Continental Insurance Company, Berkley Regional Insurance Company and Crum &amp; Forster Insurance
Company, covering officers and employees of each Fund (and employees of service providers to each Fund if and to the extent such
persons are included in the definition of &quot;Employee&quot; in the joint fidelity bond) in accordance with the requirements
of Rule 17g-1 promulgated by the Securities and Exchange Commission under Section 17(g) of the Investment Company Act of 1940,
as amended (the &quot;Act&quot;) in the amount of $70,950,000 is reasonable in form and amount, after having given due consideration
to the value of the aggregate assets of the Funds to which any such covered person may have access, the type and terms of the arrangements
made for the custody and safekeeping of such assets and the nature of the securities in the Funds' portfolios;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.05in 12pt 0; text-indent: 0.5in">RESOLVED, that the Board of Directors/Trustees,
including a majority of the disinterested Directors/Trustees, hereby approves, ratifies and authorizes the payment by the Treasurer
of the Funds of an amount approximately equal to _______ * _______ representing the portion of 2018 annual premium on such joint
insured fidelity bond allocable to the each Fund based on its coverage under such bond after giving due consideration to all relevant
factors, including the number of other parties named as the insured, the nature of the business activities of such other parties,
the $70,950,000 aggregate amount of coverage under the joint insured bond, the aggregate 2018 annual cost of such bond of $218,995,
the ratable allocation of the cost among all parties named as insureds and the extent to which the share of the cost allocated
to each Fund is less than the cost such Fund would have to pay if it maintained a single insured bond with an aggregate limit equal
to that of the joint bond;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.05in 12pt 0; text-indent: 0.5in">RESOLVED, that the Board of Directors/Trustees,
including a majority of the disinterested Directors/Trustees, hereby confirms, ratifies and approves in all respects the execution
by the appropriate officers of the Funds of an agreement among each Fund and all of the other named insureds under the joint fidelity
bond, which agreement provides that in the event recovery is received under the bond as a result of a loss sustained by a Fund
and one or more named insureds, such Fund shall receive an equitable and proportionate share of the recovery, but at least equal
to the amount which it would have received had it maintained a single insured bond with the minimum coverage required by paragraph
(d)(1) of Rule 17g-1 promulgated under the Act; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.05in 12pt 0; text-indent: 0.5in">RESOLVED, that the Secretary and
each Assistant Secretary of the Funds be, and each of them hereby is, designated to make all filings with the Securities and Exchange
Commission and to give all notices on behalf of the Funds required by paragraph (g) of Rule 17g-1 promulgated under the Investment
Company Act of 1940.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">Schedule A --*</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 80%; padding-left: 3.9pt"><FONT STYLE="font-size: 10pt; color: #444444"><U>AB Funds</U></FONT></TD>
    <TD STYLE="width: 20%; padding-left: 15pt"><FONT STYLE="font-size: 10pt; color: #444444"><U>Allocated Costs</U></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 3.9pt">&nbsp;</TD>
    <TD STYLE="padding-left: 15pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 3.9pt"><FONT STYLE="font-size: 10pt; color: #444444">AB Bond Fund, Inc.</FONT></TD>
    <TD STYLE="padding-left: 15pt"><FONT STYLE="font-size: 10pt; color: #444444">$7,716.53</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 3.7pt"><FONT STYLE="font-size: 10pt; color: #444444">AB Cap Fund, Inc.</FONT></TD>
    <TD STYLE="padding-left: 14.75pt"><FONT STYLE="font-size: 10pt; color: #444444">$7,716.53</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 3.7pt"><FONT STYLE="font-size: 10pt; color: #444444">AB Core Opportunities Fund, Inc.</FONT></TD>
    <TD STYLE="padding-left: 14.75pt"><FONT STYLE="font-size: 10pt; color: #444444">$2,314.96</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 3.7pt"><FONT STYLE="font-size: 10pt; color: #444444">AB Corporate Shares</FONT></TD>
    <TD STYLE="padding-left: 14.75pt"><FONT STYLE="font-size: 10pt; color: #444444">$5,864.56</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 3.7pt"><FONT STYLE="font-size: 10pt; color: #444444">AB Discovery Growth Fund, Inc.</FONT></TD>
    <TD STYLE="padding-left: 14.75pt"><FONT STYLE="font-size: 10pt; color: #444444">$5,247.24</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 3.45pt"><FONT STYLE="font-size: 10pt; color: #444444">AB Equity Income Fund, Inc.</FONT></TD>
    <TD STYLE="padding-left: 14.5pt"><FONT STYLE="font-size: 10pt; color: #444444">$2,777.95</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 3.45pt"><FONT STYLE="font-size: 10pt; color: #444444">AB Fixed-Income Shares, Inc.</FONT></TD>
    <TD STYLE="padding-left: 14.5pt"><FONT STYLE="font-size: 10pt; color: #444444">$7,716.53</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 3.45pt"><FONT STYLE="font-size: 10pt; color: #444444">AB Global Bond Fund, Inc.</FONT></TD>
    <TD STYLE="padding-left: 14.5pt"><FONT STYLE="font-size: 10pt; color: #444444">$7,716.53</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 3.45pt"><FONT STYLE="font-size: 10pt; color: #444444">AB Global Real Estate Investment Fund, Inc.</FONT></TD>
    <TD STYLE="padding-left: 14.5pt"><FONT STYLE="font-size: 10pt; color: #444444">$1,851.97</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 3.45pt"><FONT STYLE="font-size: 10pt; color: #444444">AB Global Risk Allocation Fund, Inc.</FONT></TD>
    <TD STYLE="padding-left: 14.5pt"><FONT STYLE="font-size: 10pt; color: #444444">$2,314.96</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 3.45pt"><FONT STYLE="font-size: 10pt; color: #444444">AB High Income Fund, Inc.</FONT></TD>
    <TD STYLE="padding-left: 14.3pt"><FONT STYLE="font-size: 10pt; color: #444444">$7,716.53</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 3.2pt"><FONT STYLE="font-size: 10pt; color: #444444">AB Institutional Funds, Inc.</FONT></TD>
    <TD STYLE="padding-left: 14.3pt"><FONT STYLE="font-size: 10pt; color: #444444">$2,314.96</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 3.2pt"><FONT STYLE="font-size: 10pt; color: #444444">AB Large Cap Growth Fund, Inc.</FONT></TD>
    <TD STYLE="padding-left: 14.3pt"><FONT STYLE="font-size: 10pt; color: #444444">$7,716.53</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 3.2pt"><FONT STYLE="font-size: 10pt; color: #444444">AB Municipal Income Fund, Inc.</FONT></TD>
    <TD STYLE="padding-left: 14.3pt"><FONT STYLE="font-size: 10pt; color: #444444">$7,716.53</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 3.2pt"><FONT STYLE="font-size: 10pt; color: #444444">AB Municipal Income Fund, Inc. II</FONT></TD>
    <TD STYLE="padding-left: 14.3pt"><FONT STYLE="font-size: 10pt; color: #444444">$3,858.26</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 3.2pt"><FONT STYLE="font-size: 10pt; color: #444444">AB Relative Value Fund, Inc.</FONT></TD>
    <TD STYLE="padding-left: 14.05pt"><FONT STYLE="font-size: 10pt; color: #444444">$4,629.92</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 3.2pt">AB <FONT STYLE="font-size: 10pt; color: #444444">Sustainable Global Thematic Fund,
    Inc.</FONT></TD>
    <TD STYLE="padding-left: 14.05pt"><FONT STYLE="font-size: 10pt; color: #444444">$3,858.26</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 2.95pt"><FONT STYLE="font-size: 10pt; color: #444444">AB Sustainable International Thematic Fund, Inc.</FONT></TD>
    <TD STYLE="padding-left: 14.05pt"><FONT STYLE="font-size: 10pt; color: #444444">$2,314.96</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 2.95pt"><FONT STYLE="font-size: 10pt; color: #444444">AB Trust</FONT></TD>
    <TD STYLE="padding-left: 14.05pt"><FONT STYLE="font-size: 10pt; color: #444444">$7,099.20</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 2.95pt"><FONT STYLE="font-size: 10pt; color: #444444">AB Unconstrained Bond F<FONT STYLE="letter-spacing: 1.35pt">u</FONT>nd, Inc.</FONT></TD>
    <TD STYLE="padding-left: 14.05pt"><FONT STYLE="font-size: 10pt; color: #444444">$2,314.96</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 2.95pt"><FONT STYLE="font-size: 10pt; color: #444444">AB Variable Products Series Fund, Inc.</FONT></TD>
    <TD STYLE="padding-left: 14.05pt"><FONT STYLE="font-size: 10pt; color: #444444">$7,716.53</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 2.95pt"><FONT STYLE="font-size: 10pt; color: #444444">Sanford C. Bernstein Fund II, Inc.</FONT></TD>
    <TD STYLE="padding-left: 13.8pt"><FONT STYLE="font-size: 10pt; color: #444444">$3,086.61</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 2.95pt"><FONT STYLE="font-size: 10pt; color: #444444">The AB Portfolios</FONT></TD>
    <TD STYLE="padding-left: 13.8pt"><FONT STYLE="font-size: 10pt; color: #444444">$7,716.53</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 2.95pt"><FONT STYLE="font-size: 10pt; color: #444444">AllianceBernstein <FONT STYLE="letter-spacing: 0.05pt">&nbsp;</FONT>Global High Income Fund, Inc.</FONT></TD>
    <TD STYLE="padding-left: 13.8pt"><FONT STYLE="font-size: 10pt; color: #444444">$3,858.26</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 2.95pt"><FONT STYLE="font-size: 10pt; color: #444444">Alliance California Municipal Income Fund, Inc.</FONT></TD>
    <TD STYLE="padding-left: 13.8pt"><FONT STYLE="font-size: 10pt; color: #444444">$1,851.97</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 2.75pt"><FONT STYLE="font-size: 10pt; color: #444444">AllianceBernstein National Municipal Income Fund, Inc.</FONT></TD>
    <TD STYLE="padding-left: 13.55pt"><FONT STYLE="font-size: 10pt; color: #444444">$2,777.95</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0; text-align: right">Exhibit C-2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 122.8pt 0 119.95pt; text-align: center; color: #4F4F4F">CERTIFICATE
OF ASSISTANT SECRETARY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 122.05pt 0 119.95pt; text-align: center; color: #4F4F4F">SANFORD
C.  BERNSTEIN FUND, INC. <BR>
BERNSTEIN FUND, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 122.65pt 0 119.95pt; text-align: center; color: #4F4F4F">Regarding
Fidelity Bond</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.05pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.45pt 12pt 5.85pt; text-indent: 35.25pt; color: #4F4F4F">The undersigned,
being the duly elected and qualified Assistant Secretary of the above-referenced Funds, hereby certifies that attached hereto is
a true and complete copy of the resolutions that were approved by the Board of Directors of the Funds by written consent on May
14, 2018, and that said resolutions have not been revoked or amended and are now in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.45pt 12pt 6.1pt; text-indent: 35.7pt; color: #4F4F4F">IN WITNESS
WHEREOF, the undersigned has executed this Certificate of Secretary of the above-referenced Funds on this 24th day of May 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 48%; padding-right: 53pt; padding-bottom: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 33%; border-bottom: Black 1pt solid; padding-right: 10.1pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/Nancy E. Hay</FONT></TD>
    <TD STYLE="vertical-align: top; width: 19%; padding-right: 53pt; padding-bottom: 12pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 53pt; padding-bottom: 12pt">&nbsp;</TD>
    <TD STYLE="padding-right: 10.1pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Nancy E. Hay</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif">Assistant Secretary</FONT></TD>
    <TD STYLE="padding-right: 53pt; padding-bottom: 12pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.1pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt/10pt Times New Roman, Times, Serif; margin: 0 0 0 301.6pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 62.2pt 12pt 39.65pt; text-align: justify; text-indent: 35.7pt; color: #4B4B4B">Resolved,
that the Board of Directors hereby determines that participation by SCB Fund and Bernstein Fund (together, the
&quot;Funds&quot;) in a joint fidelity bond underwritten by National Union Fire Insurance Company, U.S. Specialty Insurance
Company, Continental Insurance Company, Berkley Regional Insurance Company and Crum &amp; Forster Insurance Company, covering
officers and employees of the Funds (and employees of service providers to the Funds if and to the extent such persons are
included in the definition of &quot;Employee&quot; in the joint fidelity bond) in accordance with the requirements of Rule
17g-1 promulgated by the Securities and Exchange Commission under Section 17(g) of the Investment Company Act of 1940, as
amended (the &quot;1940 Act&quot;), in the amount of $23,550,000 for SCB Fund and $4,750,000 for Bernstein Fund is reasonable
in form and amount, after having given due consideration to the value of the aggregate assets of the Funds to which any such
covered person may have access, the type and terms of the arrangements made for the custody and safekeeping of such assets
and the nature of the securities in the Funds' portfolios; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 61.95pt 12pt 40.35pt; text-align: justify; text-indent: 35.45pt; color: #4B4B4B">Further
Resolved, that the Board of Directors, including a majority of the Independent Directors, hereby approves, ratifies and authorizes
the payment by the Treasurer of the Funds of an amount equal to approximately $72,700 as it relates to SCB Fund and $14,700 as
it relates to Bernstein Fund, representing the respective portion of the 2018 annual premium on such joint insured fidelity bond
allocable to the Funds based on their coverage under such bond after giving due consideration to all relevant factors, including
the number of other parties named as insured, the nature of the business activities of such other parties, the $70,950,000 aggregate
amount of coverage under the joint insured bond, the aggregate 2018 annual cost of such bond of approximately $219,000, the ratable
allocation of the cost among all parties named as insured and the extent to which the share of the cost allocated to the Funds
is less than the cost the Funds would have to pay if they maintained a single insured bond with an aggregate limit equal to that
of the joint bond; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 61.65pt 12pt 40.85pt; text-align: justify; text-indent: 35.25pt; color: #4B4B4B">Further
Resolved, that the Board of Directors, including a majority of the Independent Directors, hereby confirms, ratifies and approves
in all respects the execution by the appropriate officers of the Funds of an agreement among SCB Fund, Bernstein Fund and all of
the other named insureds under the joint fidelity bond, which agreement provides that in the event recovery is received under the
bond as a result of a loss sustained by one or more named insureds, each of SCB Fund and Bernstein Fund shall receive an equitable
and proportionate share of the recovery, but at least equal to the amount which such Fund would have received had it maintained
a single insured bond with the minimum coverage required by paragraph (d)(l ) of Rule 17g-1 promulgated under the 1940 Act; and</P>


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<P STYLE="font: 10pt/102% Times New Roman, Times, Serif; margin: 2.45pt 62.1pt 0 41.55pt; text-align: justify; text-indent: 35.4pt; color: #525252">Further
Resolved, that the respective Secretary and Assistant Secretary of SCB Fund and Bernstein Fund be, and each of them hereby is,
designated to make all filings with the Securities and Exchange Commission and to give all notices on behalf of each Fund required
by paragraph (g) of Rule 17g-1 promulgated under the 1940 Act.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right">Exhibit C-3</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>AB Multi-Manager Alternative Fund<BR>
Certificate of Assistant Secretary</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.1in 12pt 0; text-align: justify; text-indent: 0.5in">I, Eric C.
Freed, the undersigned Assistant Secretary of AB Multi-Manager Alternative Fund (a Delaware statutory trust), DO HEREBY CERTIFY
that the following resolutions were approved by the Board of Trustees of the Trust by written consent on May 14, 2018 and that
said resolutions have not been revoked or amended and are now in full force and effect:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1.05in 12pt 0.5in; text-align: justify; text-indent: 0.45in"><FONT STYLE="letter-spacing: -0.1pt">RESOLVED,
that the Board of Trustees hereby determines that participation by AB Multi-Manager Alterative Fund (&quot;MMA Fund&quot;) in a
joint fidelity bond underwritten by National Union Fire Insurance Company, U.S. Specialty Insurance Company, Continental Insurance
Company, Berkley Regional Insurance Company and Crum &amp; Forster Insurance Company, covering officers and employees of the Funds
(and employees of service providers to the Funds if and to the extent such persons are included in the definition of &quot;Employee&quot;
in the joint fidelity bond) in accordance with the requirements of Rule 17g-1 promulgated by the Securities and Exchange Commission
under Section 17(g) of the Investment Company Act of 1940, as amended (the &quot;1940 Act&quot;), in the amount of $1,250,000 for
MMA Fund is reasonable in form and amount, after having given due consideration to the value of the aggregate assets of MMA Fund
to which any such covered person may have access, the type and terms of the arrangements made for the custody and safekeeping of
such assets and the nature of the securities in the Funds' portfolios; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1.05in 12pt 0.5in; text-align: justify; text-indent: 0.45in">FURTHER
RESOLVED, that the Board of Trustees, including a majority of the Independent Directors, hereby approves, ratifies and authorizes
the payment by the Treasurer of MMA Fund of an amount equal to approximately $3,900, representing MMA Fund's portion of the 2018
annual premium on such joint insured fidelity bond allocable to MMA Fund based on its coverage under such bond after giving due
consideration to all relevant factors, including the number of other parties named as insured, the nature of the business activities
of such other parties, the $70,950,000 aggregate amount of coverage under the joint insured bond, the aggregate 2018 annual cost
of such bond of approximately $219,000, the ratable allocation of the cost among all parties named as insured and the extent to
which the share of the cost allocated to MMA Fund is less than the cost MA Fund would have to pay if it maintained a single insured
bond with an aggregate limit equal to that of the joint bond; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1.05in 12pt 0.5in; text-align: justify; text-indent: 0.45in"><FONT STYLE="letter-spacing: -0.05pt">FURTHER
RESOLVED, that the Board of Trustees, including a majority of the Independent Directors, hereby confirms, ratifies and approves
in all respects the execution by the appropriate officers of MMA Fund of an agreement among MMA Fund, SCB Fund, Bernstein Fund
and all of the other named insureds under the joint fidelity bond, which agreement provides that
in the event recovery is received under the bond as a result of a loss sustained by one or more named insureds, MMA Fund shall
receive an equitable and proportionate share of the recovery, but at least equal to the amount which MMA Fund would have received
had it maintained a single insured bond with the minimum coverage required by paragraph (d)(1) of Rule 17g-1 promulgated under
the 1940 Act; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1.05in 12pt 0.5in; text-align: justify; text-indent: 0.45in"><FONT STYLE="letter-spacing: -0.05pt">&nbsp;</FONT></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt/13.65pt Times New Roman, Times, Serif; margin: 0.35pt 0.8in 0 0; text-align: justify"> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12.15pt 0.8in 12pt 40pt; text-align: justify; text-indent: 40pt">FURTHER
RESOLVED, that the respective Secretary and Assistant Secretary of MMA Fund be, and each of them hereby is, designated to make
all filings with the Securities and Exchange Commission and to give all notices on behalf of each Fund required by paragraph (g)
of Rule 17g-1 promulgated under the 1940 Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 -20pt 12pt 40pt"><FONT STYLE="letter-spacing: 0.2pt">IN WITNESS
WHEREOF, I have executed this Certificate this 24th day of May 2018. </FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 48%; padding-right: 53pt; padding-bottom: 12pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 31%; border-bottom: Black 1pt solid; padding-right: 10.1pt; padding-left: 5.4pt">/s/Eric C. Freed</TD>
    <TD STYLE="vertical-align: top; width: 21%; padding-right: 53pt; padding-bottom: 12pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 53pt; padding-bottom: 12pt">&nbsp;</TD>
    <TD STYLE="padding-right: 10.1pt; padding-left: 5.4pt">Eric C. Freed<BR>
Assistant Secretary</TD>
    <TD STYLE="padding-right: 53pt; padding-bottom: 12pt">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/10pt Times New Roman, Times, Serif; margin: 0"></P>


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<DOCUMENT>
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