Exhibit 99(g)(2)
Execution
AMENDMENT TO CUSTODY AGREEMENT
This Amendment (the “Amendment”) is entered into and effective as of the 8th day of December, 2025 (the “Effective Date”) amending the Custody Agreement dated September 1, 2025 (as amended, modified and supplemented through the Effective Date, the “Agreement”), by and between each entity identified on Appendix A thereto (the “Client”) and STATE STREET BANK AND TRUST COMPANY (the “Custodian”).
W I T N E S S E T H:
WHEREAS, the Custodian provides certain custodial services to the Client pursuant to the terms of the Agreement; and
WHEREAS, the Client and the Custodian wish to amend the Agreement as set forth below.
NOW, THEREFORE, in further consideration of the promises and mutual covenants contained herein and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:
| 1. | Amendments: |
| a. | The preamble of the Agreement is hereby deleted in its entirety and replaced with the following: |
“This Agreement (the “Agreement”) is made as of September 1, 2025 (the “Effective Date”) between:
| 1) | Each trust entity identified on Appendix A hereto, whose jurisdiction of formation is identified opposite its name, on behalf of itself and its underlying funds identified on Appendix A hereto (each, the “Client” and collectively, the “Clients”); and |
| 2) | STATE STREET BANK AND TRUST COMPANY, a bank and trust company organized under the laws of The Commonwealth of Massachusetts, U.S.A. (the “Custodian”).” |
| b. | In accordance with Section 29.15 of the Agreement, the following entities (each, a “New Client”) are hereby added as “Clients” under the Agreement: |
SCM Trust
Shelton Funds
Green California Tax-Free Income Fund
Shelton S&P 500 Index Fund
Shelton S&P MidCap Index Fund
S&P SmallCap Index Fund
Information Classification: Limited Access
Shelton Equity Income Fund
Nasdaq-100 Index Fund
U.S. Government Securities Fund
The United States Treasury Trust
Shelton Sustainable Equity Fund
ICON Consumer Select Fund
ICON Equity Fund
ICON Equity Income Fund
ICON Flexible Bond Fund
ICON Health and Information Technology Fund
ICON Natural Resources and Infrastructure Fund
ICON Utilities and Income Fund
Shelton Emerging Markets Fund
Shelton International Select Equity Fund
Shelton Tactical Credit Fund
By execution of this Amendment, each New Client hereby agrees (a) to become bound by all of the terms and conditions and provisions of the Agreement as a Client including, without limitation, the representations and warranties set forth therein and (b) adopts the Agreement with the same force and effect as if the New Client was originally a party thereto.
For purposes of clarity, Appendix A to the Agreement is hereby deleted in its entirety and replaced with the Appendix A attached hereto.
| 2. | Miscellaneous: |
| a. | Defined Terms. Terms used in this Amendment but not defined herein shall have the meaning ascribed to them in the Agreement. |
| b. | One Agreement. Except as amended herein, no other terms or provisions of the Agreement are amended or modified by this Amendment. Upon the execution of this Amendment, this Amendment and the Agreement shall form one agreement. |
| c. | Counterparts. This Amendment may be executed in several counterparts, each of which shall be deemed to be an original, and all such counterparts taken together shall constitute one and the same Amendment. Counterparts may be executed in either original or electronically transmitted form (e.g., faxes or emailed portable document format (PDF) form), and the Parties hereby adopt as original any signatures received via electronically transmitted form. |
| d. | Governing Law. This Amendment shall be governed by, and construed in accordance with, the choice of law set forth in the Agreement (excluding the law thereof which requires the application of or reference to the law of any other jurisdiction). |
Information Classification: Limited Access
IN WITNESS WHEREOF, this Amendment has been executed for and on behalf of the undersigned as of the day and year first written above.
| SCM TRUST | |||
| ON BEHALF OF ITSELF AND ITS FUNDS LISTED ON | |||
| APPENDIX A | |||
| By: | |
||
| Name: Steve Rogers | |||
| Title: President and Chairman | |||
| SHELTON FUNDS | |||
| ON BEHALF OF ITSELF AND ITS FUNDS LISTED ON | |||
| APPENDIX A | |||
| By: | |
||
| Name: Steve Rogers | |||
| Title: President and Chairman | |||
| STATE STREET BANK AND TRUST COMPANY | |||
| By: |  |
||
| Name: Andrea E. Sharp | |||
| Title: Managing Director | |||
Information Classification: Limited Access
Appendix A
List of Client Entities
| Trust Name | Jurisdiction of Formation |
| SCM Trust | Massachusetts |
| Shelton Funds | Delaware |
| FUND NAME | TRUST COMPLEX |
| Shelton Equity Premium Income ETF | SCM Trust |
| ICON Consumer Select Fund | SCM Trust |
| ICON Equity Fund | SCM Trust |
| ICON Equity Income Fund | SCM Trust |
| ICON Flexible Bond Fund | SCM Trust |
| ICON Health and Information Technology Fund | SCM Trust |
| ICON Natural Resources and Infrastructure Fund | SCM Trust |
| ICON Utilities and Income Fund | SCM Trust |
| Shelton Emerging Markets Fund | SCM Trust |
| Shelton International Select Equity Fund | SCM Trust |
| Shelton Tactical Credit Fund | SCM Trust |
| Green California Tax-Free Income Fund | Shelton Funds |
| Shelton S&P 500 Index Fund | Shelton Funds |
| Shelton S&P MidCap Index Fund | Shelton Funds |
| S&P SmallCap Index Fund | Shelton Funds |
| Shelton Equity Income Fund | Shelton Funds |
| Nasdaq-100 Index Fund | Shelton Funds |
| U.S. Government Securities Fund | Shelton Funds |
| The United States Treasury Trust | Shelton Funds |
| Shelton Sustainable Equity Fund | Shelton Funds |
Information Classification: Limited Access