Common use of Limitation of Liability and Indemnification of Agent Clause in Contracts

Limitation of Liability and Indemnification of Agent. 26 Section 1. Limitation of Liability 26 Section 2. Indemnification 27 Section 3. Insurance 29 Section 4. Derivative Actions 29 Section 5. Jurisdiction and Waiver of Jury Trial 30 Article VIII CERTAIN TRANSACTIONS 30 Section 1. Dissolution of Trust or Series 30 Section 2. Merger or Consolidation; Conversion; Reorganization 31 Section 3. Master Feeder Structure 33 Section 4. Absence of Appraisal or Dissenters' Rights 33 Article IX AMENDMENTS 34 Section 1. Amendments Generally 34 Article X MISCELLANEOUS 34 Section 1. References; Headings; Counterparts 34 Section 2. Applicable Law 34 Section 3. Provisions in Conflict with Law or Regulations 35 Section 4. Statutory Trust Only 35 Section 5. Use of the Names "Franklin," "Xxxxxxxxx," "Fiduciary Trust," and/or "Institutional Fiduciary Trust" 35

Limitation of Liability and Indemnification of Agent. 26 28 Section 1. Limitation of Liability 26 Liability. 28 Section 2. Indemnification 27 Indemnification. 29 Section 3. Insurance 29 Insurance. 30 Section 4. Derivative Actions 29 Section 5Actions. Jurisdiction and Waiver of Jury Trial 30 Article VIII ARTICLE VIII. CERTAIN TRANSACTIONS 30 31 Section 1. Dissolution of Trust or Series 30 Series. 31 Section 2. Merger or Consolidation; Conversion; Reorganization 31 Reorganization. 32 Section 3. Master Feeder Structure 33 Structure. 34 Section 4. Absence of Appraisal or Dissenters' Rights 33 Article IX ’ Rights. 34 ARTICLE IX. AMENDMENTS 34 Section 1. Amendments Generally Generally. 34 Article X ARTICLE X. MISCELLANEOUS 34 35 Section 1. References; Headings; Counterparts 34 Counterparts. 35 Section 2. Applicable Law 34 Law. 35 Section 3. Provisions in Conflict with Law or Regulations 35 Section 4Regulations. Statutory Trust Only 35 Section 5. Use of the Names "Franklin," "Xxxxxxxxx," "Fiduciary Trust," and/or "Institutional Fiduciary Trust" 3536

Limitation of Liability and Indemnification of Agent. 26 29 Section 1. Limitation of Liability 26 29 Section 2. Indemnification 27 30 Section 3. Insurance 29 31 Section 4. Derivative Actions 29 32 Section 5. Jurisdiction and Waiver of Jury Trial 30 Article VIII 32 ARTICLE VIII. CERTAIN TRANSACTIONS 30 33 Section 1. Dissolution of Trust or Series 30 33 Section 2. Merger or Consolidation; Conversion; Reorganization 31 34 Section 3. Master Feeder Structure 33 36 Section 4. Absence of Appraisal or Dissenters' ’ Rights 33 Article IX 36 ARTICLE IX. AMENDMENTS 34 37 Section 1. Amendments Generally 34 Article X 37 ARTICLE X. MISCELLANEOUS 34 37 Section 1. References; Headings; Counterparts 34 37 Section 2. Applicable Law 34 37 Section 3. Provisions in Conflict with Law or Regulations 35 Section 4. Statutory Trust Only 35 Section 5. Use of the Names "Franklin," "Xxxxxxxxx," "Fiduciary Trust," and/or "Institutional Fiduciary Trust" 3538

Limitation of Liability and Indemnification of Agent. 26 Section 1. Limitation of Liability Liability. 26 Section 2. Indemnification 27 28 Section 3. Insurance 29 Section 4. Derivative Actions 29 Section 5ARTICLE VIII. Jurisdiction and Waiver of Jury Trial 30 Article VIII CERTAIN TRANSACTIONS 30 Section 1. Dissolution of Trust or Series 30 Section 2. Merger or Consolidation; Conversion; Reorganization 31 Section 3. Master Feeder Structure 33 32 Section 4. Absence of Appraisal or Dissenters' ’ Rights 33 Article IX ARTICLE IX. AMENDMENTS 34 33 Section 1. Amendments Generally 34 Article X 33 ARTICLE X. MISCELLANEOUS 34 33 Section 1. References; Headings; Counterparts 34 33 Section 2. Applicable Law 34 Section 3. Provisions in Conflict with Law or Regulations 35 Section 4. Statutory Trust Only 35 Section 5. Use of the Names "Franklin," "Xxxxxxxxx," "Fiduciary Trust," and/or "Institutional Fiduciary Trust" 35

Limitation of Liability and Indemnification of Agent. 26 Section 1. Limitation of Liability Liability. 26 Section 2. Indemnification. 27 (a) Indemnification by Trust 27 (b) Exclusion of Indemnification 28 (c) Required Approval 28 (d) Advancement of Expenses 28 (e) Other Contractual Rights 28 (f) Fiduciaries of Employee Benefit Plan 28 Section 3. Insurance 29 Section 4. Derivative Actions 29 Section 5ARTICLE VIII. Jurisdiction and Waiver of Jury Trial 30 Article VIII - CERTAIN TRANSACTIONS 30 29 Section 1. Dissolution of Trust or Series 30 29 Section 2. Merger or Consolidation; Conversion; Reorganization. 30 (a) Merger or Consolidation 30 (b) Conversion 31 (c) Reorganization 31 Section 3. Master Feeder Structure 33 32 Section 4. Absence of Appraisal or Dissenters' Rights 33 Article IX 32 ARTICLE IX. - AMENDMENTS 34 32 Section 1. Amendments Generally 34 Article X 32 ARTICLE X. - MISCELLANEOUS 34 33 Section 1. References; Headings; Counterparts 34 33 Section 2. Applicable Law 34 33 Section 3. Provisions in Conflict with Law or Regulations 35 Regulations. 34 Section 4. Statutory Trust Only 35 34 Section 5. Use of the Names Name "Franklin,DFA" "Xxxxxxxxx," "Fiduciary Trust," and/or "Institutional Fiduciary Trust" 3534 APPENDIX A - SERIES AND CLASSES OF THE TRUST A-1