AMENDMENT TO
INVESTMENT MANAGEMENT AGREEMENT
This Amendment dated as of May 1, 2004, is to the Investment Management
Agreement made as of the 30th day of October, 1992 and amended and restated as
of the 25th day of February, 1994 and the 1st day of January, 2001 (the
"Agreement") by and between Xxxxxxxxx Investment Counsel, LLC, a U.S. registered
investment adviser and a Delaware limited liability company (the "Manager") and
Templeton Global Opportunities Trust (the "Fund").
WITNESSETH:
WHEREAS, both the Manager and the Fund wish to amend Paragraph 4 of the
Agreement; and
WHEREAS, the Board of Trustees of the Fund, including a majority of the
Independent Trustees of the Fund present in person, approved the following
amendment at a meeting called for such purpose on April 20, 2004.
NOW, THEREFORE, in consideration of the foregoing premises, the parties
hereto agree as follows:
The Fund agrees to pay to the Manager a monthly fee in dollars, at the
annual rate of the Fund's daily net assets, as listed below, payable at the end
of each calendar month:
0.75%, up to and including $1 billion
0.73% over $1 billion, up to and including $5 billion
0.71% over $5 billion, up to and including $10 billion
0.69% over $10 billion, up to and including $15 billion
0.67% over $15 billion, up to and including $20 billion
0.65% over $20 billion
IN WITNESS WHEREOF, this Amendment has been executed on behalf of each
party as of the date set forth above.
XXXXXXXXX INVESTMENT COUNSEL, LLC
By:/s/ XXXXXXX X. XXXXXXX
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Xxxxxxx X. XxXxxxx
Executive Vice President
TEMPLETON GLOBAL OPPORTUNITIES TRUST
By:/s/XXXXXX X. XXXXXXX
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Xxxxxx X. Xxxxxxx
Vice President and Assistant Secretary
