Closed-End Funds
- Product Update - August 28, 2008
- Webinar on Evergreen’s Closed End Funds – May 1, 2008
- Conference Call on Auction Rate Securities - March 24, 2008
- Product Update - February 26, 2008
- Policy for the Consideration of Trustee Nominees
- Policy Concerning Trustee Attendance at Annual Meetings of Shareholders
- Process for Delivering Shareholder Communications to the Board of Trustees
Policy for the Consideration of Trustee Nominees
Last Approved: December 6, 2007
Last Revised: November 1, 2007
The following Policy for the Consideration of Trustee Nominees (the "Policy") shall be followed by the Executive Committee (the "Committee") of each Evergreen Trust in filling vacancies on the Boards of Trustees or when Trustees are to be nominated for election by shareholders.
Minimum Nominee Qualifications
- With respect to nominations for Trustees who are not interested persons of a Fund as defined by Section 2(a)(19) of the Investment Company Act of 1940 (the “1940 Act”) (“Disinterested Trustees”), nominees shall be independent of the Fund’s investment adviser and other principal service providers. The Committee shall also consider the effect of any relationship beyond those delineated in the 1940 Act that might impair independence, such as business, financial or family relationships with the investment adviser or its affiliates.
- All nominees must qualify under all applicable laws and regulations.
- The proposed nominee may not be within five years of the Fund’s retirement age for Trustees unless he or she is nominated for re-election.
- The Committee may also consider such other factors as it may determine to be relevant.
Other Qualifications
- With respect to all proposed nominees, the Committee shall consider whether the proposed nominee serves on boards of or is otherwise affiliated with competing financial service organizations or their related fund complexes or companies in which the Evergreen Funds may invest.
- The Committee shall consider whether the proposed nominee is able to and intends to commit the time necessary for the performance of Trustee duties.
- The Committee shall consider the integrity and character of the proposed nominee, and the proposed nominee’s compatibility with the current Trustees.
- The Committee may require an interview with the proposed nominee.
Nominees Recommended by Shareholders
- The Committee shall consider nominations for openings on the Board of Trustees from shareholders who have separately or as a group held for at least one full year 5% of the shares of a Fund.
- The Committee shall give candidates recommended by shareholders the same consideration as any other candidate.
- Shareholder recommendations should be sent to the attention of the Committee in care of the Fund’s Secretary and should include biographical information, including business experience for the past ten years and a description of the qualifications of the proposed nominee, along with a statement from the proposed nominee that he or she is willing to serve and meets the requirements to be a Disinterested Trustee, if applicable.
Process for Identifying and Evaluating Trustee Nominees
- When identifying and evaluating prospective nominees for openings on the Board of Trustees, the Committee shall review all recommendations in the same manner, including those received from shareholders.
- The Committee shall first determine if the prospective nominee meets the minimum qualifications set forth above. Those proposed nominees meeting the minimum qualifications will then be considered by the Committee with respect to the other qualifications listed above, and any other qualifications deemed to be important by the Committee.
- Those nominees selected by the Committee shall be recommended to the Boards of Trustees.