Common use of Contingent Deferred Sales Charges and Advance Commissions Payable to Financial Intermediary Clause in Contracts

Contingent Deferred Sales Charges and Advance Commissions Payable to Financial Intermediary. (a) Upon the purchase of certain Shares, JPMDS will pay Financial Intermediary an advance commission as described in the Fund’s Prospectus. This amount is not to be considered an initial sales load and will not be deducted from the public offering price of the Shares. A contingent deferred sales charge (“CDSC”) will be assessed upon the redemption of Shares, as described in the Prospectus. (b) In the event that Financial Intermediary notifies JPMDS in writing that Financial Intermediary elects to waive such advance commission, and if the Fund’s Prospectus permits such a waiver, the advance commission will not be paid and the CDSC will not be charged upon the redemption of the relevant Shares. Neither the Fund nor JPMDS shall have any responsibility to correct the assessment of an incorrect CDSC due to the failure of the Financial Intermediary to fulfill the foregoing obligation. (c) In the event that Financial Intermediary maintains an omnibus account with the Funds’ transfer agent, Financial Intermediary must be able to account for share ownership periods used in calculating the CDSC in order to receive advanced commissions from JPMDS.

Contingent Deferred Sales Charges and Advance Commissions Payable to Financial Intermediary. (a) Upon the purchase of certain SharesXxxxxx, JPMDS will pay Financial Intermediary an advance commission as described in the Fund’s ProspectusRegistration Statement. This amount is not to be considered an initial sales load and will not be deducted from the public offering price of the Shares. A contingent deferred sales charge (“CDSC”) will be assessed upon the redemption of Shares, as described in the ProspectusRegistration Statement. (b) In the event that Financial Intermediary notifies JPMDS in writing that Financial Intermediary elects to waive such advance commission, and if the Fund’s Prospectus Registration Statement permits such a waiver, the advance commission will not be paid and the CDSC will not be charged upon the redemption of the relevant Shares. Neither the Fund nor JPMDS shall have any responsibility to correct the assessment of an incorrect CDSC due to the failure of the Financial Intermediary to fulfill the foregoing obligation. (c) In the event that Financial Intermediary maintains an omnibus account with the Funds’ transfer agent, Financial Intermediary must be able to account for share ownership periods used in calculating the CDSC in order to receive advanced commissions from JPMDS.

Contingent Deferred Sales Charges and Advance Commissions Payable to Financial Intermediary. (a) Upon the purchase of certain Shares, JPMDS will pay Financial Intermediary an advance commission as described in the Fund’s Prospectus's current prospectus. This amount is not to be considered an initial sales load and will not be deducted from the public offering price of the Shares. A contingent deferred sales charge (“"CDSC”") will be assessed upon the redemption of Shares, as described in the Prospectus. (b) In the event that Financial Intermediary notifies JPMDS in writing that Financial Intermediary elects to waive such advance commission, and if the Fund’s Prospectus 's prospectus permits such a waiver, the advance commission will not be paid and the CDSC will not be charged upon the redemption of the relevant Shares. Neither the Fund nor JPMDS shall have any responsibility to correct the assessment of an incorrect CDSC due to the failure of the Financial Intermediary to fulfill the foregoing obligation. (c) In the event that Financial Intermediary maintains an omnibus account with the Funds’ transfer agent, Financial Intermediary must be able to account for share ownership periods used in calculating the CDSC in order to receive advanced commissions from JPMDS.

Contingent Deferred Sales Charges and Advance Commissions Payable to Financial Intermediary. (a) Upon the purchase of certain Shares, JPMDS will pay Financial Intermediary an advance commission as described in the Fund’s Prospectuscurrent prospectus. This amount is not to be considered an initial sales load and will not be deducted from the public offering price of the Shares. A contingent deferred sales charge (“CDSC”) will be assessed upon the redemption of Shares, as described in the Prospectus. (b) In the event that Financial Intermediary notifies JPMDS in writing that Financial Intermediary elects to waive such advance commission, and if the Fund’s Prospectus prospectus permits such a waiver, the advance commission will not be paid and the CDSC will not be charged upon the redemption of the relevant Shares. Neither the Fund nor JPMDS shall have any responsibility to correct the assessment of an incorrect CDSC due to the failure of the Financial Intermediary to fulfill the foregoing obligation. (c) In the event that Financial Intermediary maintains an omnibus account with the Funds’ transfer agent, Financial Intermediary must be able to account for share ownership periods used in calculating the CDSC in order to receive advanced commissions from JPMDS.

Contingent Deferred Sales Charges and Advance Commissions Payable to Financial Intermediary. (a) Upon the purchase of certain Shares, JPMDS will pay Financial Intermediary an advance commission as described in the Fund’s Prospectus. This amount is not to be considered an initial sales load and will not be deducted from the public offering price of the Shares. A contingent deferred sales charge (“CDSC”) will be assessed upon the redemption of Shares, as described in the Prospectus. (b) In the event that Financial Intermediary notifies JPMDS in writing that Financial Intermediary elects to waive such advance commission, and if the Fund’s Prospectus permits such a waiver, the advance commission will not be paid and the CDSC will not be charged upon the redemption of the relevant Shares. Neither the Fund nor JPMDS shall have any responsibility to correct the assessment of an incorrect CDSC due to the failure of the Financial Intermediary to fulfill the foregoing obligation. (c) In the event that Financial Intermediary maintains an omnibus account with the Funds’ transfer agent, Financial Intermediary must be able to account for share ownership periods used in calculating the CDSC in order to receive advanced commissions from JPMDS.

Contingent Deferred Sales Charges and Advance Commissions Payable to Financial Intermediary. (a) Upon the purchase of certain Shares, JPMDS will pay Financial Intermediary an advance commission as described in the Fund’s ProspectusRegistration Statement. This amount is not to be considered an initial sales load and will not be deducted from the public offering price of the Shares. A contingent deferred sales charge (“CDSC”) will be assessed upon the redemption of Shares, as described in the ProspectusRegistration Statement. (b) In the event that Financial Intermediary notifies JPMDS in writing that Financial Intermediary elects to waive such advance commission, and if the Fund’s Prospectus Registration Statement permits such a waiver, the advance commission will not be paid and the CDSC will not be charged upon the redemption of the relevant Shares. Neither the Fund nor JPMDS shall have any responsibility to correct the assessment of an incorrect CDSC due to the failure of the Financial Intermediary to fulfill the foregoing obligation. (c) In the event that Financial Intermediary maintains an omnibus account with the Funds’ transfer agent, Financial Intermediary must be able to account for share ownership periods used in calculating the CDSC in order to receive advanced commissions from JPMDS.

Contingent Deferred Sales Charges and Advance Commissions Payable to Financial Intermediary. (a) Upon the purchase of certain Shares, JPMDS will pay Financial Intermediary an advance commission as described in the Fund’s Prospectus. This amount is not to be considered an initial sales load and will not be deducted from the public offering price of or the Shares. A contingent deferred sales charge (“CDSC”) will be assessed upon the redemption of Shares, as described in the Prospectus. (b) In the event that Financial Intermediary notifies JPMDS in writing that Financial Intermediary elects to waive such advance commission, and if the Fund’s Prospectus permits such a waiver, the advance commission will not be paid and the CDSC will not be charged upon the redemption of the relevant Shares. Neither the Fund nor JPMDS shall have any responsibility to correct the assessment of an incorrect CDSC due to the failure of the Financial Intermediary to fulfill the foregoing obligation. (c) In the event that Financial Intermediary maintains an omnibus account with the Funds’ transfer agent, Financial Intermediary must be able to account for share ownership periods used in calculating the CDSC in order to receive advanced commissions from JPMDS.