Common use of JXXX HXXXXXX MUNICIPAL SECURITIES TRUST Clause in Contracts

JXXX HXXXXXX MUNICIPAL SECURITIES TRUST. Jxxx Hxxxxxx High Yield Municipal Bond Fund Jxxx Hxxxxxx Tax-Free Bond Fund JXXX HXXXXXX SOVEREIGN BOND FUND Jxxx Xxxxxxx Xxxx Fund JXXX HXXXXXX STRATEGIC SERIES Jxxx Hxxxxxx Income Fund APPENDIX B Classes Expiration Date of Waiver/Limit Fund A B C R4 Balanced Fund N/A N/A N/A 0.15% 2/29/2016 Classic Value Fund N/A N/A N/A 0.15% 2/29/2016 Disciplined Value International Fund N/A N/A N/A 0.15% 2/29/2016 Emerging Markets Equity Fund N/A N/A N/A 0.15% 2/28/2017 Large Cap Equity Fund N/A N/A N/A 0.15% 2/29/2016 Bond Fund N/A N/A N/A 0.15% 9/30/2016 California Tax-Free Income Fund N/A 0.90% 0.90% N/A 9/30/20161 High Yield Municipal Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20161 Income Fund N/A N/A N/A 0.15% 9/30/20161 Investment Grade Bxxx Xxxx X/X X/X X/X 0.15% 9/30/2016 Tax-Free Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20161 Money Market Fund 0.15% N/A N/A N/A 7/31/20162 1 At the June 23-25, 2015 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution fees and/or service fees for the Funds set forth above to September 30, 2016, each effective upon the current expiration date of September 30, 2015. 2 At the March 10-12, 2015 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution and service fees of Class A shares of Money Market Fund to July 31, 2016, effective upon the current expiration date of July 31, 2015.

JXXX HXXXXXX MUNICIPAL SECURITIES TRUST. Jxxx Hxxxxxx High Yield Municipal Bond Fund Jxxx Hxxxxxx Tax-Free Bond Fund JXXX HXXXXXX SOVEREIGN BOND FUND Jxxx Xxxxxxx Xxxx Fund JXXX HXXXXXX STRATEGIC SERIES Jxxx Hxxxxxx Income Fund APPENDIX B Classes Fund Class A Class B Class C Class R4 Expiration Date of Waiver/Limit Fund A B C R4 Balanced Fund N/A N/A N/A 0.15% 2/29/2016 2/28/2017 Classic Value Fund N/A N/A N/A 0.15% 2/29/2016 2/28/2017 Disciplined Value International Fund N/A N/A N/A 0.15% 2/29/2016 2/28/20181 Emerging Markets Equity Fund N/A N/A N/A 0.15% 2/28/2017 Fundamental Large Cap Equity Core Fund N/A N/A N/A 0.15% 2/29/2016 2/28/2017 Bond Fund N/A N/A N/A 0.15% 9/30/2016 9/30/20172 California Tax-Free Income Fund N/A 0.90% 0.90% N/A 9/30/20161 9/30/20173 High Yield Municipal Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20161 9/30/20174 Income Fund N/A N/A N/A 0.15% 9/30/20161 9/30/20172 Investment Grade Bxxx Xxxx X/X X/X X/X 0.15% 9/30/2016 9/30/20172 Tax-Free Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20161 9/30/20174 Money Market Fund 0.15% N/A N/A N/A 7/31/20162 7/31/20175 1 At the June 20-23-25, 2015 2016 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution fees and/or service fees for Class R4 shares of Disciplined Value International Fund to February 28, 2018, effective upon the Funds set forth above current expiration date of February 28, 2017. 2 At the June 20-23, 2016 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the waivers and limits of the Rule 12b-1 distribution fees and/or service fees for Class R4 shares of Bond Fund, Income Fund and Investment Grade Bond Fund to September 30, 20162017, each effective upon the current expiration date of September 30, 20152016. 2 3 At the June 20-23, 2016 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the waivers and limits of the Rule 12b-1 distribution fees and/or service fees for Class B and Class C shares of California Tax-Free Income Fund to September 30, 2017, each effective upon the current expiration date of September 30, 2016. 4 At the June 20-23, 2016 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the waivers and limits of the Rule 12b-1 distribution fees and/or service fees for Class A, Class B and Class C shares of High Yield Municipal Bond Fund and Tax-Free Bond Fund to September 30, 2017, each effective upon the current expiration date of September 30, 2016. 5 At the March 8-10-12, 2015 2016 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution and service fees of Class A shares of Money Market Fund to July 31, 20162017, effective upon the current expiration date of July 31, 20152016.

JXXX HXXXXXX MUNICIPAL SECURITIES TRUST. Jxxx Hxxxxxx High Yield Municipal Bond Fund Jxxx Hxxxxxx Tax-Free Bond Fund JXXX HXXXXXX SOVEREIGN BOND FUND Jxxx Xxxxxxx Xxxx Fund JXXX HXXXXXX STRATEGIC SERIES Jxxx Hxxxxxx Income Fund APPENDIX XXXXXXXX X Fund Class A Class B Classes Class C Class R4 Expiration Date of Waiver/Limit Fund A B C R4 Balanced Fund N/A N/A N/A 0.15% 2/29/2016 2/28/20181 Classic Value Fund N/A N/A N/A 0.15% 2/29/2016 2/28/20181 Disciplined Value International Fund N/A N/A N/A 0.15% 2/29/2016 2/28/2018 Emerging Markets Equity Fund N/A N/A N/A 0.15% 2/28/2017 2/28/20181 Fundamental Large Cap Equity Core Fund N/A N/A N/A 0.15% 2/29/2016 Bond Fund N2/28/20181 Bxxx Xxxx X/A NX X/A NX X/A X 0.15% 9/30/2016 9/30/2017 California Tax-Free Income Fund N/A 0.90% 0.90% N/A 9/30/20161 9/30/2017 High Yield Municipal Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20161 9/30/2017 Income Fund N/A N/A N/A 0.15% 9/30/20161 9/30/2017 Investment Grade Bxxx Xxxx X/X X/X X/X 0.15% 9/30/2016 9/30/2017 Tax-Free Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20161 9/30/2017 Money Market Fund 0.15% N/A N/A N/A 7/31/20162 7/31/2017 1 At the June 23December 6-258, 2015 2016 meeting of the Board of Trustees of the Trusts, the Distributor Adviser notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution fees and/or service fees for the Funds set forth above Class R4 shares of Balanced Fund, Classic Value Fund, Emerging Markets Equity Fund and Fundamental Large Cap Core Fund to September 30February 28, 20162018, each effective upon the current expiration date of September 30February 28, 2015. 2 At the March 10-12, 2015 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution and service fees of Class A shares of Money Market Fund to July 31, 2016, effective upon the current expiration date of July 31, 20152017.

JXXX HXXXXXX MUNICIPAL SECURITIES TRUST. Jxxx Hxxxxxx High Yield Municipal Bond Fund Jxxx Hxxxxxx Tax-Free Bond Fund JXXX HXXXXXX SOVEREIGN BOND FUND Jxxx Xxxxxxx Xxxx Fund JXXX HXXXXXX STRATEGIC SERIES Jxxx Hxxxxxx Income Fund JXXX HXXXXXX TAX-EXEMPT SERIES FUND Jxxx Hxxxxxx Massachusetts Tax-Free Income Fund Jxxx Hxxxxxx New York Tax-Free Income Fund APPENDIX B Classes Expiration Date of Waiver/Limit Fund A B C R4 Waiver/Limit Balanced Fund N/A N/A N/A 0.15% 2/29/2016 2/28/2015 Classic Value Fund N/A N/A N/A 0.15% 2/29/2016 2/28/2015 Disciplined Value International Fund N/A N/A N/A 0.15% 2/29/2016 Emerging Markets Equity Fund N/A N/A N/A 0.15% 2/28/2017 2/29/20161 Large Cap Equity Fund N/A N/A N/A 0.15% 2/29/2016 Bond Fund N/A N/A N/A 0.15% 9/30/2016 2/28/2015 California Tax-Free Income Fund N/A 0.90% 0.90% N/A 9/30/20161 9/30/20152 High Yield Municipal Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20161 9/30/20152 Income Fund N/A N/A N/A 0.15% 9/30/20161 Investment Grade Bxxx Xxxx X/X X/X X/X 9/30/20152 Massachusetts Tax-Free Income Fund 0.15% 9/30/2016 0.90% 0.90% N/A 9/30/20152 New York Tax-Free Income Fund 0.15% 0.90% 0.90% N/A 9/30/20152 Tax-Free Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20161 9/30/20152 Money Market Fund 0.15% N/A N/A N/A 7/31/20162 7/31/20153 1 At the June 23-25, 2015 2014 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the waiver and limit of the Rule 12b-1 distribution fees and/or service fees set forth above for Class R4 shares of Disciplined Value International Fund with an expiration date of February 29, 2016, effective as of the commencement of operations of the Fund’s Class R4 shares. 2 At the June 23-25, 2014 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution fees and/or service fees for the Funds set forth above to September 30, 20162015, each effective upon the current expiration date of September 30, 20152014. 2 3 At the March 10-1213, 2015 2014 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution and service fees of Class A shares of Money Market Fund to July 31, 20162015, effective upon the current expiration date of July 31, 20152014.

JXXX HXXXXXX MUNICIPAL SECURITIES TRUST. Jxxx Hxxxxxx High Yield Municipal Bond Fund Jxxx Hxxxxxx Tax-Free Bond Fund JXXX HXXXXXX SOVEREIGN BOND FUND Jxxx Xxxxxxx Xxxx Fund JXXX HXXXXXX STRATEGIC SERIES Jxxx Hxxxxxx Income Fund JXXX HXXXXXX TAX-EXEMPT SERIES FUND Jxxx Hxxxxxx Massachusetts Tax-Free Income Fund Jxxx Hxxxxxx New York Tax-Free Income Fund APPENDIX B Fund Classes A B C R4 Expiration Date of Waiver/Limit Fund A B C R4 Balanced Fund N/A N/A N/A 0.15% 2/29/2016 2/29/20161 Classic Value Fund N/A N/A N/A 0.15% 2/29/2016 2/29/20161 Disciplined Value International Fund N/A N/A N/A 0.15% 2/29/2016 Emerging Markets Equity Fund N/A N/A N/A 0.15% 2/28/2017 Large Cap Equity Fund N/A N/A N/A 0.15% 2/29/2016 Bond Fund N2/29/20161 Bxxx Xxxx X/A NX X/A NX X/A X 0.15% 9/30/2016 9/30/20162 California Tax-Free Income Fund N/A 0.90% 0.90% N/A 9/30/20161 9/30/2015 High Yield Municipal Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20161 9/30/2015 Income Fund N/A N/A N/A 0.15% 9/30/20161 9/30/2015 Investment Grade Bxxx Xxxx XBond Fund N/X XA N/X XA N/X A 0.15% 9/30/2016 9/30/20162 Massachusetts Tax-Free Income Fund 0.15% 0.90% 0.90% N/A 9/30/2015 New York Tax-Free Income Fund 0.15% 0.90% 0.90% N/A 9/30/2015 Tax-Free Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20161 9/30/2015 Money Market Fund 0.15% N/A N/A N/A 7/31/20162 7/31/20153 1 At the June 23December 15-2517, 2015 2014 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution fees and/or service fees for the Funds set forth above to September 30February 29, 2016, each effective upon the current expiration date of September 30February 28, 2015. 2 At the December 15-17, 2014 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the waiver and limit of the Rule 12b-1 distribution fees and/or service fees for set forth above for Class R4 shares of the Funds set forth above with an expiration date of September 30, 2016, each effective as of the commencement of operations of the applicable Fund’s Class R4 shares. 3 At the March 10-1213, 2015 2014 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution and service fees of Class A shares of Money Market Fund to July 31, 20162015, effective upon the current expiration date of July 31, 20152014.

JXXX HXXXXXX MUNICIPAL SECURITIES TRUST. Jxxx Hxxxxxx High Yield Municipal Bond Fund Jxxx Hxxxxxx Tax-Free Bond Fund JXXX HXXXXXX SOVEREIGN BOND FUND Jxxx Xxxxxxx Xxxx Fund JXXX HXXXXXX STRATEGIC SERIES Jxxx Hxxxxxx Income Fund APPENDIX B Classes Expiration Date of Waiver/Limit Fund A B C R4 Balanced Fund N/A N/A N/A 0.15% 2/29/2016 2/28/20171 Classic Value Fund N/A N/A N/A 0.15% 2/29/2016 2/28/20171 Disciplined Value International Fund N/A N/A N/A 0.15% 2/29/2016 2/28/20171 Emerging Markets Equity Fund N/A N/A N/A 0.15% 2/28/2017 Large Cap Equity Fund N/A N/A N/A 0.15% 2/29/2016 Bond Fund N2/28/20171 Bxxx Xxxx X/A NX X/A NX X/A X 0.15% 9/30/2016 California Tax-Free Income Fund N/A 0.90% 0.90% N/A 9/30/20161 9/30/2016 High Yield Municipal Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20161 9/30/2016 Income Fund N/A N/A N/A 0.15% 9/30/20161 9/30/2016 Investment Grade Bxxx Xxxx X/X X/X X/X 0.15% 9/30/2016 Tax-Free Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20161 9/30/2016 Money Market Fund 0.15% N/A N/A N/A 7/31/20162 1 At the June 23December 8-2510, 2015 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution fees and/or service fees for Class R4 shares of the Funds set forth above to September 30February 28, 20162017, each effective upon the current expiration date dates of September 30February 29, 20152016, or, for Disciplined Value International Fund, December 31, 2016. 2 At the March 10-12, 2015 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution and service fees of Class A shares of Money Market Fund to July 31, 2016, effective upon the current expiration date of July 31, 2015.

JXXX HXXXXXX MUNICIPAL SECURITIES TRUST. Jxxx Hxxxxxx High Yield Municipal Bond Fund Jxxx Hxxxxxx Tax-Free Bond Fund JXXX HXXXXXX SOVEREIGN BOND FUND Jxxx Xxxxxxx Xxxx Fund JXXX HXXXXXX STRATEGIC SERIES Jxxx Hxxxxxx Income Fund APPENDIX B Classes Expiration Date of Waiver/Limit Fund A B C R4 Balanced Fund N/A N/A N/A 0.15% 2/29/2016 2/28/2017 Classic Value Fund N/A N/A N/A 0.15% 2/29/2016 2/28/2017 Disciplined Value International Fund N/A N/A N/A 0.15% 2/29/2016 2/28/2017 Emerging Markets Equity Fund N/A N/A N/A 0.15% 2/28/2017 Fundamental Large Cap Equity Core Fund N/A N/A N/A 0.15% 2/29/2016 2/28/2017 Bond Fund N/A N/A N/A 0.15% 9/30/2016 California Tax-Free Income Fund N/A 0.90% 0.90% N/A 9/30/20161 9/30/2016 High Yield Municipal Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20161 9/30/2016 Income Fund N/A N/A N/A 0.15% 9/30/20161 9/30/2016 Investment Grade Bxxx Xxxx X/X X/X X/X 0.15% 9/30/2016 Tax-Free Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20161 9/30/2016 Money Market Fund 0.15% N/A N/A N/A 7/31/20162 7/31/20171 1 At the June 23March 8-25, 2015 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution fees and/or service fees for the Funds set forth above to September 30, 2016, each effective upon the current expiration date of September 30, 201510. 2 At the March 10-12, 2015 2016 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution and service fees of Class A shares of Money Market Fund to July 31, 20162017, effective upon the current expiration date of July 31, 20152016.

JXXX HXXXXXX MUNICIPAL SECURITIES TRUST. Jxxx Hxxxxxx High Yield Municipal Bond Fund Jxxx Hxxxxxx Tax-Free Bond Fund JXXX HXXXXXX SOVEREIGN BOND FUND Jxxx Xxxxxxx Xxxx Fund JXXX HXXXXXX STRATEGIC SERIES Jxxx Hxxxxxx Income Fund APPENDIX B Classes XXXXXXXX X Class Class Class Class Expiration Date of Waiver/Limit Fund A B C R4 Waiver/Limit Balanced Fund N/A N/A N/A 0.15% 2/29/2016 2/28/20181 Classic Value Fund N/A N/A N/A 0.15% 2/29/2016 2/28/20181 Disciplined Value International Fund N/A N/A N/A 0.15% 2/29/2016 2/28/2018 Emerging Markets Equity Fund N/A N/A N/A 0.15% 2/28/2017 2/28/20181 Fundamental Large Cap Equity Core Fund N/A N/A N/A 0.15% 2/29/2016 Bond Fund N2/28/20181 Bxxx Xxxx X/A NX X/A NX X/A X 0.15% 9/30/2016 9/30/2017 California Tax-Free Income Fund N/A 0.90% 0.90% N/A 9/30/20161 9/30/2017 High Yield Municipal Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20161 9/30/2017 Income Fund N/A N/A N/A 0.15% 9/30/20161 9/30/2017 Investment Grade Bxxx Xxxx X/X X/X X/X 0.15% 9/30/2016 9/30/2017 Tax-Free Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20161 9/30/2017 Money Market Fund 0.15% N/A N/A N/A 7/31/20162 7/31/2017 1 At the June 23December 6-258, 2015 2016 meeting of the Board of Trustees of the Trusts, the Distributor Adviser notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution fees and/or service fees for the Funds set forth above Class R4 shares of Balanced Fund, Classic Value Fund, Emerging Markets Equity Fund and Fundamental Large Cap Core Fund to September 30February 28, 20162018, each effective upon the current expiration date of September 30February 28, 2015. 2 At the March 10-12, 2015 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution and service fees of Class A shares of Money Market Fund to July 31, 2016, effective upon the current expiration date of July 31, 20152017.

JXXX HXXXXXX MUNICIPAL SECURITIES TRUST. Jxxx Hxxxxxx High Yield Municipal Bond Fund Jxxx Hxxxxxx Tax-Free Bond Fund JXXX HXXXXXX SOVEREIGN BOND FUND Jxxx Xxxxxxx Xxxx Fund JXXX HXXXXXX STRATEGIC SERIES Jxxx Hxxxxxx Income Fund APPENDIX B Classes Fund Class Class Class Class Expiration Date of Waiver/Limit Fund A B C R4 Waiver/Limit Balanced Fund N/A N/A N/A 0.15% 2/29/2016 2/28/2017 Classic Value Fund N/A N/A N/A 0.15% 2/29/2016 2/28/2017 Disciplined Value International Fund N/A N/A N/A 0.15% 2/29/2016 2/28/20181 Emerging Markets Equity Fund N/A N/A N/A 0.15% 2/28/2017 Fundamental Large Cap Equity Core Fund N/A N/A N/A 0.15% 2/29/2016 2/28/2017 Bond Fund N/A N/A N/A 0.15% 9/30/2016 9/30/20172 California Tax-Free Income Fund N/A 0.90% 0.90% N/A 9/30/20161 9/30/20173 High Yield Municipal Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20161 9/30/20174 Income Fund N/A N/A N/A 0.15% 9/30/20161 9/30/20172 Investment Grade Bxxx Xxxx X/X X/X X/X 0.15% 9/30/2016 9/30/20172 Tax-Free Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20161 9/30/20174 Money Market Fund 0.15% N/A N/A N/A 7/31/20162 7/31/20175 1 At the June 20-23-25, 2015 2016 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution fees and/or service fees for Class R4 shares of Disciplined Value International Fund to February 28, 2018, effective upon the Funds set forth above current expiration date of February 28, 2017. 2 At the June 20-23, 2016 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the waivers and limits of the Rule 12b-1 distribution fees and/or service fees for Class R4 shares of Bond Fund, Income Fund and Investment Grade Bond Fund to September 30, 20162017, each effective upon the current expiration date of September 30, 20152016. 2 3 At the June 20-23, 2016 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the waivers and limits of the Rule 12b-1 distribution fees and/or service fees for Class B and Class C shares of California Tax-Free Income Fund to September 30, 2017, each effective upon the current expiration date of September 30, 2016. 4 At the June 20-23, 2016 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the waivers and limits of the Rule 12b-1 distribution fees and/or service fees for Class A, Class B and Class C shares of High Yield Municipal Bond Fund and Tax-Free Bond Fund to September 30, 2017, each effective upon the current expiration date of September 30, 2016. 5 At the March 8-10-12, 2015 2016 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution and service fees of Class A shares of Money Market Fund to July 31, 20162017, effective upon the current expiration date of July 31, 20152016.

JXXX HXXXXXX MUNICIPAL SECURITIES TRUST. Jxxx Hxxxxxx High Yield Municipal Bond Fund Jxxx Hxxxxxx Tax-Free Bond Fund JXXX HXXXXXX SOVEREIGN BOND FUND Jxxx Xxxxxxx Xxxx Fund JXXX HXXXXXX STRATEGIC SERIES Jxxx Hxxxxxx Income Fund JXXX HXXXXXX TAX-EXEMPT SERIES FUND Jxxx Hxxxxxx Massachusetts Tax-Free Income Fund Jxxx Hxxxxxx New York Tax-Free Income Fund APPENDIX B Classes Expiration Date of Waiver/Limit Fund A B C R4 Balanced Fund N/A N/A N/A 0.15% 2/29/2016 2/28/20151 Classic Value Fund N/A N/A N/A 0.15% 2/29/2016 Disciplined Value International Fund N/A N/A N/A 0.15% 2/29/2016 Emerging Markets Equity Fund N/A N/A N/A 0.15% 2/28/2017 2/28/20151 Large Cap Equity Fund N/A N/A N/A 0.15% 2/29/2016 Bond Fund N/A N/A N/A 0.15% 9/30/2016 2/28/20151 California Tax-Free Income Fund N/A 0.90% 0.90% N/A 9/30/20161 9/30/2014 High Yield Municipal Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20161 9/30/2014 Income Fund N/A N/A N/A 0.15% 9/30/20161 Investment Grade Bxxx Xxxx X/X X/X X/X 9/30/2014 Massachusetts Tax-Free Income Fund 0.15% 9/30/2016 0.90% 0.90% N/A 9/30/2014 New York Tax-Free Income Fund 0.15% 0.90% 0.90% N/A 9/30/2014 Tax-Free Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20161 9/30/2014 Money Market Fund 0.15% N/A N/A N/A 7/31/20162 7/31/2014 1 At the June 23December 16-2518, 2015 2013 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution fees and/or service fees for the Funds set forth above to September 30February 28, 20162015, each effective upon the current expiration date of September 30February 28, 2015. 2 At the March 10-12, 2015 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution and service fees of Class A shares of Money Market Fund to July 31, 2016, effective upon the current expiration date of July 31, 20152014.