JOHN HANCOCK TRUST AMENDMENT TO AMENDED AND RESTATED ADVISORY AGREEMENT
XXXX XXXXXXX TRUST
AMENDMENT TO AMENDED AND RESTATED ADVISORY AGREEMENT
AMENDMENT TO AMENDED AND RESTATED ADVISORY AGREEMENT
AMENDMENT (the “Amendment”) made this 3rd day of May, 2010, to the Amended and Restated
Advisory Agreement dated September 30, 2008, between Xxxx Xxxxxxx Trust, a Massachusetts business
trust (the “Trust”) and Xxxx Xxxxxxx Investment Management Services, LLC, a Delaware limited
liability company (“JHIMS” or the “Adviser”). In consideration of the mutual covenants contained
herein, the parties agree as follows:
1. CHANGE IN APPENDIX A
Appendix A is amended to decrease the advisory fee for the following funds:
Alpha Opportunities Trust
Blue Chip Growth Trust
Equity-Income Trust
Natural Resources Trust
New Income Trust (formerly, the “Spectrum Income Trust”)
Small Cap Value Trust
Heritage Trust (formerly,”Vista Trust”)
(collectively, the “Portfolios”)
Blue Chip Growth Trust
Equity-Income Trust
Natural Resources Trust
New Income Trust (formerly, the “Spectrum Income Trust”)
Small Cap Value Trust
Heritage Trust (formerly,”Vista Trust”)
(collectively, the “Portfolios”)
2. EFFECTIVE DATE
The Amendment shall become effective with respect to the Portfolio on the later of:
(i) the date of its execution and (ii) approval by the Board of Trustees of the Trust of the
Amendment.
Xxxx Xxxxxxx Trust
By:
Xxxx Xxxxxxx Investment Management Services, LLC
By:
APPENDIX A
ADVISORY FEE SCHEDULE
The Adviser shall serve as investment adviser for each Portfolio of the Trust listed
below. The Trust will pay the Adviser, as full compensation for all services provided under this
Agreement with respect to each Portfolio, the fee computed separately for such Portfolio at an
annual rate as follows (the “Adviser Fee”).
The term Aggregate Net Assets in the chart below includes the net assets of a Portfolio of the
Trust. It also includes with respect to certain Portfolios as indicated in the chart the net
assets of one or more other portfolios, but in each case only for the period during which the
subadviser for the Portfolio also serves as the subadviser for the other portfolio(s) and only with
respect to the net assets of such other portfolio(s) that are managed by the subadviser.
For purposes of determining Aggregate Net Assets and calculating the Adviser Fee, the net
assets of the Portfolio and each other fund of the Trust are determined as of the close of business
on the previous business day of the Trust, and the net assets of each portfolio of each other fund
are determined as of the close of business on the previous business day of that fund.
The Adviser Fee for a Portfolio shall be based on the applicable annual fee rate for the
Portfolio which for each day shall be equal to (i) the sum of the amounts determined by applying
the annual percentage rates in the table to the applicable portions of Aggregate Net Assets divided
by (ii) Aggregate Net Assets (the “Applicable Annual Fee Rate”). The Adviser Fee for each Portfolio
shall be accrued and paid daily to the Adviser for each calendar day. The daily fee accruals will
be computed by multiplying the fraction of one over the number of calendar days in the year by the
Applicable Annual Fee Rate, and multiplying this product by the net assets of the Portfolio. Fees
shall be paid either by wire transfer or check, as directed by the Adviser.
If, with respect to any Portfolio, this Agreement becomes effective or terminates, or if the
manner of determining the Applicable Annual Fee Rate changes, before the end of any month, the fee
(if any) for the period from the effective date to the end of such month or from the beginning of
such month to the date of termination or from the beginning of such month to the date of such
change, as the case may be, shall be prorated according to the proportion which such period bears
to the full month in which such effectiveness or termination or change occurs.
2
Advisory Fee Schedules
Aggregate Net Assets Include the | ||||
Net Assets of the following funds in | ||||
addition to the | ||||
Trust Portfolio | Trust Portfolio | Advisory Fee of the Trust Portfolio- | ||
500 Index Trust
|
Index 500 Fund (JHF II) |
0.470% — first $500 million; and 0.460% — excess over $500 million. | ||
500 Index Trust B
|
Not applicable | 0.470% — first $500 million; and 0.460% — excess over $500 million. | ||
Active Bond Trust
|
Active Bond Fund (JHF II) |
0.600% — at all asset levels. | ||
All Cap Core Trust
|
All Cap Core Fund (JHF II) |
0.800% — first $500 million; and 0.750% — excess over $500 million. | ||
All Cap Value Trust
|
All Cap Value Fund (JHF II) |
0.850% — first $250 million; 0.800% — next $250 million; and 0.750% — excess over $500 million. | ||
Alpha Opportunities Trust
|
Alpha Opportunities Fund (JHF II) |
1.025% — first $250 million;
1.00%— next $250 million; 0.975% — next $500 million; and 0.950%— excess over $1 billion |
||
American Fundamental Holdings Trust |
See below | See below | ||
American Global Diversification Trust |
See below | See below | ||
Core Diversified Growth & Income Trust |
See below | See below | ||
Balanced Trust
|
Not applicable | 0.84% — first $250 million; and
0.81% — next $250 million; 0.80% — next $500 million; 0.78%— excess over $1 billion |
||
Blue Chip Growth Trust |
Blue Chip Growth Fund (JHF II) |
0.825% — first $1 billion; and
0.775% — excess over $1 billion.* *When Aggregate Net Assets exceed $1 billion on any day, the annual rate of advisory fee for that day is 0.800% on the first $1 billion of Aggregate Net Assets. |
||
Bond Trust
|
Not applicable | 0.65% — first $500 million;
0.60%— next $1 billion; 0.575%— next $1 billion; 0.55% — excess over $2.5 billion. |
3
Aggregate Net Assets Include the | ||||
Net Assets of the following funds in | ||||
addition to the | ||||
Trust Portfolio | Trust Portfolio | Advisory Fee of the Trust Portfolio- | ||
Capital Appreciation Trust
|
Capital Appreciation Fund (JHF II) |
0.850% — first $300 million; 0.800% — between $300 million and $500 million; 0.700% — between $500 million and $1 billion; and 0.670% — excess over $1 billion. | ||
Capital Appreciation Value Trust
|
Not applicable | See below | ||
Core Allocation Trust
|
See below | See below | ||
Core Allocation Plus Trust
|
Core Allocation Plus Fund (JHF II) |
0.915% — first $500 million; and 0.865% — excess over $500 million | ||
Core Balanced Trust
|
See below | See below | ||
Core Balanced Strategy Trust
|
See below | See below | ||
Core Bond Trust
|
Core Bond Fund (JHF II) |
0.690% — first $200 million; 0.640% — next $200 million; and 0.570% — excess over $400 million. | ||
Core Disciplined Diversification Trust |
See below | See below | ||
Core Fundamental Holdings Trust
|
See below | See below | ||
Core Global Diversification Trust
|
See below | See below | ||
Core Strategy Trust
|
See below | See below | ||
Disciplined Diversification Trust
|
Not applicable | 0.800% — first $100 million; 0.700% — next $900 million; and 0.650% — excess over $1 billion | ||
Emerging Markets Value Trust
|
Emerging Markets Value Fund (JHF II) | 1.00% — first $100 million; and
0.950% — excess over $100 million. |
||
Equity-Income Trust
|
Equity-Income Fund (JHF II) |
0.825% — first $1 billion; and
0.775% — excess over $1 billion.* *When Aggregate Net Assets exceed $1 billion on any day, the annual rate of advisory fee for that day is 0.800% on the first $1 billion of Aggregate Net Assets. |
||
Financial Services Trust
|
Financial Services Fund (JHF II) |
0.850% — first $50 million;
0.800% — next $450 million; and 0.750% — excess over $500 million. |
||
Floating Rate Income Trust
|
Floating Rate Income Fund (JHF II) | 0.700% — first $1.1 billion; 0.675% — next $0.90 billion; and 0.650% — excess over $2 billion. | ||
Franklin Xxxxxxxxx Founding Allocation Trust |
See below | See below |
4
Aggregate Net Assets Include the | ||||
Net Assets of the following funds in | ||||
addition to the | ||||
Trust Portfolio | Trust Portfolio | Advisory Fee of the Trust Portfolio- | ||
Fundamental Value Trust
|
Fundamental Value Fund (JHF II) | 0.850% — first $50 million; 0.800% — next $450 million; and 0.750% — excess over $500 million. | ||
Global Bond Trust
|
Global Bond Fund (JHF II) |
0.700% — at all asset levels. | ||
Global Trust
|
See Next Column | 0.850% — first $1 billion; and
0.800% — excess over $1 billion. (Aggregate Net Assets include the net assets of the Global Trust, a series of JHT, the Global Fund, a series of JHF II, the International Value Fund, a series of JHF II and the International Value Trust, a series of JHT.) |
||
Growth Equity Trust
|
Rainier Growth Fund (JHF III) |
0.750% — first 3 billion; 0.725% — next $3 billion; and 0.700% — excess over $6 billion. | ||
Health Sciences Trust
|
Not applicable | 1.050% — first $500 million; and 1.000% — excess over $500 million. | ||
Heritage Trust (formerly, Vista Trust) |
Heritage Fund (JHF II) |
0.850% — first $400 million;
0.825% — next $600 million; and 0.800% — excess over $1 billion. |
||
High Income Trust
|
High Income Fund (JHF II) |
0.725% — first $150 million; 0.675% — between $150 million and $500 million; 0.650% — between $500 million and $2.5 billion; and 0.600% — excess over $2.5 billion. | ||
High Yield Trust
|
High Yield Fund (JHF II) |
0.700% — first $500 million; and 0.650% — excess over $500 million. | ||
Income Trust
|
See Next Column | 1.075% — first $50 million; 0.915%
— between $50 million and $200
million; 0.825% — between $200
million and $500 million; and
0.800% — excess over $500 million.
(Aggregate Net Assets include the net assets of the Income Fund, a series of JHF II, the Income Trust, a series of JHT, the International Value Fund, a series of JHF II, the International Value Trust, a series of JHT, the International Small Cap Fund, a series of JHF II, the Global Trust, a series of JHT, the Global Fund, a series of JHF II, the Mutual Shares Trust, a series of JHT and the Mutual Shares Fund, a series of JHF II.) |
||
International Core Trust
|
International Core Fund (JHF III) |
0.92% — first $100 million; 0.895% — next $900 million; 0.88% — next $1 billion; 0.85% — next $1 billion; 0.825% — next $1 billion; 0.800% — excess over $4 billion. | ||
International Equity Index Trust A
|
International Equity Index Fund (JHF II) | 0.550% — first $100 million; and 0.530% — excess over $100 million. |
5
Aggregate Net Assets Include the | ||||
Net Assets of the following funds in | ||||
addition to the | ||||
Trust Portfolio | Trust Portfolio | Advisory Fee of the Trust Portfolio- | ||
International Equity Index Trust B
|
Not applicable | 0.550% — first $100 million; and 0.530% — excess over $100 million. | ||
International Index Trust
|
Not applicable | 0.49% — first $500 million; 0.475% — excess over $500 million. | ||
International Opportunities Trust
|
International Opportunities Fund (JHF II) | 0.900% — first $750 million; 0.850% — between $750 million and $1.5 billion; and 0.800% — excess over $1.5 billion. | ||
International Small Company Trust
|
International Small Company Fund (JHF II) | 1.000% first $100 million; 0.950% excess over $100 million | ||
International Value Trust
|
See Next Column | 0.950% — first $200 million;
0.850% — next $300 million; and
0.800% — excess over $500 million.
(Aggregate Net Assets include the net assets of the International Value Trust, a series of JHT, the International Value Fund, a series of JHF II, the Global Fund, a series of JHF II and the Global Trust, a series of JHT.) |
||
Investment Quality Bond Trust
|
Investment Quality Bond Fund (JHF II) | 0.600% — first $500 million; and 0.550% — excess over $500 million. | ||
Large Cap Trust
|
Large Cap Fund (JHF II) |
0.780% — first $250 million; 0.730% — next $250 million; 0.680% — next $250 million; and 0.650% — excess over $750 million. | ||
Large Cap Value Trust
|
Large Cap Value Fund (JHF II) |
0.825% — first $500 million; 0.800% — next $500 million; 0.775% — next $500 million; 0.720% — next $500 million; and 0.700% — excess over $2 billion | ||
Lifecycle Trusts
|
See below | See below | ||
Lifestyle Trusts
|
See below | See below | ||
Mid Cap Index Trust
|
Mid Cap Index Fund (JHF II) |
0.490% — first $250 million; 0.480% — next $250 million; and 0.460% — excess over $500 million. | ||
Mid Cap Stock Trust
|
Mid Cap Stock Fund (JHF II |
0.875% — first $200 million; 0.850% — next $300 million; and 0.825% — excess over $500 million. | ||
Mid Cap Value Equity Trust
|
Mid Cap Value Equity Fund (JHF II) | 0.875% — first $250 million; and 0.850% — next $250 million; 0.825% — next $500 million; and 0.800% — excess over $1 billion. | ||
Mid Value Trust
|
Mid Value Fund (JHF II) |
1.050% — first $50 million; and
0.950% — excess over $50 million. |
||
Money Market Trust
|
Money Market Fund (JHF II) |
0.500% — first $500 million; and 0.470% — excess over $500 million. |
6
Aggregate Net Assets Include the | ||||
Net Assets of the following funds in | ||||
addition to the | ||||
Trust Portfolio | Trust Portfolio | Advisory Fee of the Trust Portfolio- | ||
Money Market Trust B
|
Not applicable | 0.500% — first $500 million; and 0.470% — excess over $500 million. | ||
Mutual Shares Trust
|
Mutual Shares Fund (JHF II) |
0.960% — at all asset levels. | ||
Natural Resources Trust
|
Natural Resources Fund (JHF II) |
1.000% — first $1 billion;
0.975% — next $1 billion; 0.950% — excess over $2 billion. |
||
New Income Trust (formerly, “Spectrum Income Trust”) |
Not Applicable | 0.800% — first $50 million*;
0.750% — next $50 million*#; 0.675% — next $150 million*; 0.625% — next $250 million*; and 0.600% — excess over $500 million*. |
||
*The annual rate of the advisory fee on all the net assets of the New Income Trust on any day shall not exceed 0.725%. | ||||
#When net assets of the New Income Trust exceed $100 million on any day, the annual rate of advisory fee for that day is 0.750% on the first $100 million of net assets of the New Income Trust. | ||||
Optimized All Cap Trust
|
Not applicable | 0.675% — first $2.50 billion; and 0.650% — excess over $2.50 billion. | ||
Optimized Value Trust
|
Optimized Value Fund (JHF II) |
0.700% — first $500 million; 0.650% — next $500 million; and 0.600% — excess over $1 billion. | ||
Real Estate Securities Trust
|
Real Estate Securities Fund (JHF II) | 0.700% — at all asset levels. | ||
Real Return Bond Trust
|
Real Return Bond Fund (JHF II) |
0.700% — first $1 billion; and 0.650% — excess over $1 billion. | ||
Science & Technology Trust
|
Science & Technology Fund (JHF II) | 1.050% — first $500 million; and 1.000% — excess over $500 million. | ||
Short Term Government Income Trust |
Short Term Government Income Fund (JHF II) |
0.570% — first $250 million; and 0.550% — excess over $250 million. | ||
Small Cap Growth Trust
|
Small Cap Growth Fund (JHF II) |
1.100% — first $100 million;
1.050% — excess over $100 million. |
||
Small Cap Index Trust
|
Small Cap Index Fund JHF II) |
0.490% — first $250 million; 0.480% — next $250 million; and 0.460% — excess over $500 million. |
7
Aggregate Net Assets Include the | ||||
Net Assets of the following funds in | ||||
addition to the | ||||
Trust Portfolio | Trust Portfolio | Advisory Fee of the Trust Portfolio- | ||
Small Cap Opportunities Trust
|
Small Cap Opportunities Fund (JHF II) | 1.000% — first $500 million;
0.950% — next $500 million; 0.900% — next $1 billion; 0.850%— excess over $2 billion; |
||
Small Cap Value Trust
|
Small Cap Value Fund (JHF II) |
1.100% — first $100 million;
1.050% — next $500 million; and 1.000% — excess over $600 million. |
||
Small Company Growth Trust
|
See next column | 1.050% — first $250 million; and 1.000% — excess over $250 million. | ||
(Aggregate Net Assets include the net assets of the Small Company Growth Trust. However, the applicable rate is 1.000% of all net assets of the Fund when the Aggregate Net Assets of the following funds exceed $1 billion: the Small Company Growth Trust, a series of JHT and the Small Company Growth Fund, a series of JHF II.) | ||||
Small Company Value Trust
|
Small Company Value Fund (JHF II) |
1.050% — first $500 million; and 1.000% — excess over $500 million. | ||
Smaller Company Growth Trust
|
Smaller Company Growth Fund (JHF II) |
1.100% — first $125 million;
1.050%— next $250 million; 1.00%— next $625 million; and |
||
0.950% — excess over $1 billion. | ||||
Strategic Bond Trust
|
Strategic Bond Fund (JHF II) |
0.700% — first $500 million; and 0.650% — excess over $500 million. | ||
Strategic Income Opportunities Trust |
Strategic Income Opportunities Fund (JHF II) |
0.725% — first $500 million; and 0.650% — excess over $500 million. | ||
Total Bond Market Trust A
|
Not applicable | 0.470% — all asset levels. | ||
Total Bond Market Trust B
|
Not applicable | 0.470% — all asset levels | ||
Total Return Trust
|
Total Return Fund (JHF II) |
See below | ||
Total Stock Market Index Trust
|
Total Stock Market Index Fund (JHF II) |
0.490% — first $250 million; 0.480% — next $250 million; and 0.460% — excess over $500 million. | ||
U.S. High Yield Bond Trust
|
U.S. High Yield Bond Fund (JHF II) | 0.750% — first $200 million; and 0.720% — excess over $200 million. |
8
Aggregate Net Assets Include the | ||||
Net Assets of the following funds in | ||||
addition to the | ||||
Trust Portfolio | Trust Portfolio | Advisory Fee of the Trust Portfolio- | ||
U.S. Multi Sector Trust
|
U.S. Multi Sector Fund (JHF II) | 0.780% — first $500 million; 0.760% — next $500 million; 0.750% — next $1.5 billion; and 0.740% — excess over $2.5 billion. | ||
Utilities Trust
|
Utilities Fund (JHF II) |
0.825% — first $600 million; 0.800% — next $300 million; 0.775% — next $600 million; and 0.700% — excess over $1.5 billion. | ||
Value & Restructuring Trust
|
Value & Restructuring Fund (JHF II) |
0.825% — first $500 million; 0.800% — next $500 million; and 0.775% — excess over $1 billion. | ||
Value Trust
|
Value Fund (JHF II) |
0.750% — first $200 million; 0.725% — next $300 million; and 0.650% — excess over $500 million. |
9
Capital Appreciation Value Trust
If net assets are less than $500 million, the following fee schedule shall apply:
First $250 million of | Excess Over $250 million of | |||||||
Portfolio | Net Assets | Net Assets | ||||||
Capital Appreciation Value Trust |
0.950 | % | 0.850 | % |
If net assets equal or exceed $500 million but are less than $2 billion, the following fee schedule
shall apply:
First $1 billion of | Excess Over $1 billion of Net | |||||||
Portfolio | Net Assets | Assets | ||||||
Capital Appreciation Value Trust |
0.850 | % | 0.800 | % |
If net assets equal or exceed $2 billion but are less than $3 billion, the following fee schedule
shall apply:
First $500 million of | Excess Over $500 million of | |||||||
Portfolio | Net Assets | Net Assets | ||||||
Capital Appreciation Value Trust |
0.850 | % | 0.800 | % |
If net assets equal or exceed $3 billion, the following fee schedule shall apply:
Portfolio | All Asset Levels | |||
Capital Appreciation Value Trust |
0.800 | % |
10
Total Return Trust
The Adviser shall serve as investment adviser for the Portfolio of the Trust listed below.
The Trust will pay the Adviser, as full compensation for all services provided under this Agreement
with respect to the Portfolio, the fee computed separately for the Portfolio at an annual rate as
follows (the “Adviser Fee”).
Pacific Investment Management Company (“PIMCO”) is the Subadviser to the Portfolio
During the period during which PIMCO is the subadviser to the Portfolio, if Relationship Net
Assets* equal or exceed $3 Billion, the following fee schedule shall apply:
First | Excess Over | |||||||
$1 Billion | $1 Billion | |||||||
of Total Return | of Total Return | |||||||
Portfolio | Net Assets** | Net Assets** | ||||||
Total Return Trust |
0.700 | % | 0.675 | % |
If Relationship Net Assets* are less than $3 Billion, the following fee schedule shall apply:
Portfolio | All Asset Levels | |||
Total Return Trust |
0.700 | % |
* | The term Relationship Net Assets shall mean the aggregate net assets of all portfolios of the Xxxx Xxxxxxx Trust and the Xxxx Xxxxxxx Funds II that are subadvised by PIMCO. These funds currently include the Total Return Trust, the Real Return Bond Trust and the Global Bond Trust, each a series of the Trust, and the Total Return Fund, the Real Return Bond Fund and the Global Bond Fund, each a series of Xxxx Xxxxxxx Funds II. |
PIMCO is not the Subadviser to the Portfolio
If PIMCO is not the subadviser to the Portfolio, the following fee schedule shall apply:
First | Excess Over | |||||||
$1 Billion | $1 Billion | |||||||
of Total Return | of Total Return | |||||||
Portfolio | Net Assets** | Net Assets** | ||||||
Total Return Trust |
0.700 | % | 0.675 | % |
** | The term Total Return Net Assets includes the net assets of the Portfolio. It also includes with respect to the Portfolio the net assets of the Total Return Fund, a series of Xxxx Xxxxxxx Funds II but only for the period during which the subadviser for the Portfolio also serves as the subadviser for the Total Return Fund. For purposes of determining Total Return Net Assets and calculating the Advisory Fee, the net assets of the Portfolio are determined as of the close of business on the previous business day of the Trust, and the net assets of the Total Return Trust are determined as of the close of business on the previous business day of that fund. |
The Adviser Fee for a Portfolio shall be based on the applicable annual fee rate for the
Portfolio which for each day shall be equal to (i) the sum of the amounts determined by applying
the annual percentage rates in the table to the applicable portions of Total Return Net Assets
divided by (ii) Total Return Net Assets (the “Applicable Annual Fee Rate”). The Adviser Fee for
each Portfolio shall be accrued and paid daily to the Adviser for each calendar day. The daily fee
accruals will be computed by multiplying the fraction of one over the number of calendar days in
the year by the Applicable Annual Fee Rate, and multiplying this product by the net assets of the
Portfolio. Fees shall be paid either by wire transfer or check, as directed by the Adviser.
If, with respect to any Portfolio, this Agreement becomes effective or terminates, or if the
manner of determining the Applicable Annual Fee Rate changes, before the end of any month, the fee
(if any) for the period from the effective date to the end of such month or from the beginning of
such month to the date of termination or from the beginning of such month to the date such change,
as the case may be, shall be prorated according to the proportion which such period bears to the
full month in which such effectiveness or termination or change occurs.
11
Funds of Funds
The Adviser shall serve as investment adviser for each of the Trusts named below (each a “Fund
of Funds”):
Core Allocation Trust
|
Lifecycle 2035 Trust | |
Core Balanced Trust
|
Lifecycle 2040 Trust | |
Core Balanced Strategy Trust
|
Lifecycle 2045 Trust | |
Core Disciplined Diversification Trust
|
Lifecycle 2050 Trust | |
Core Fundamental Holdings Trust
|
(collectively, the “Lifecycle Trusts”) | |
Core Global Diversification Trust |
||
Core Strategy Trust
|
Lifestyle Aggressive Trust | |
Franklin Xxxxxxxxx Founding Allocation Trust
|
Lifestyle Balanced Trust | |
Lifestyle Conservative Trust | ||
Lifecycle 2010 Trust
|
Lifestyle Growth Trust | |
Lifecycle 2015 Trust
|
Lifestyle Moderate Trust | |
Lifecycle 2020 Trust
|
(collectively, the “Lifestyle Trusts”) | |
Lifecycle 2025 Trust |
||
Lifecycle 2030 Trust |
Certain Definitions:
“Affiliated Fund Assets” means the net assets or Aggregate Net Assets (as
applicable) of a Fund of Funds that are invested in Affiliated Funds.
“Affiliated Funds” are any fund of Xxxx Xxxxxxx Trust (“JHT”), Xxxx Xxxxxxx Funds II
(“JHF II”) or Xxxx Xxxxxxx Funds III (“JHF III”), excluding the following funds of JHT: the Money
Market Trust B, 500 Index Trust B, International Equity Index Trust B and Total Bond Market Trust
B. In the case of Core Fundamental Holdings Trust and Core Global Diversification Trust,
Affiliated Funds also includes the funds of American Fund Insurance Series.
“Aggregate Net Assets” of a Fund of Funds means the net assets of the Fund of Funds
and the net assets of one or more other Funds of JHT, JHF II or JHF III, but only with respect to
and for so long as such other Fund or Funds are managed by the same subadviser as the Fund of
Funds.
“Other Assets” means the net assets or Aggregate Net Assets, as applicable, of
a Fund of Funds that are not invested in Affiliated Funds.
Adviser Fee:
The Trust will pay the Adviser, as full compensation for all services provided under this
Agreement with respect to each Fund of Funds , a fee computed separately for each Fund of Funds as
follows (the “Adviser Fee”).
The Adviser Fee for each Fund of Funds has two components: (a) a fee on Affiliated Fund
Assets; and (b) a fee on Other Assets. Each such fee shall each be accrued and paid daily to the Adviser for
each calendar day. The daily Adviser Fee for each Fund of Funds shall be the sum of the daily fee
on Affiliated Fund Assets and the daily fee on Other Assets. Fees shall be paid either by wire
transfer or check, as directed by the Adviser.
(a) Fee on Affiliated Fund Assets. The fee on Affiliated Fund Assets is stated as an
annual percentage of the current value of either the net assets or the Aggregate
Net Assets (as applicable) of the Fund of
12
Funds, in each case determined in accordance with the fee schedule set forth below for the Fund of
Funds, and that percentage rate (the “Applicable Annual Affiliated Funds Fee Rate”) is applied to
the Affiliated Fund Assets of the Fund of Funds. For each day the Applicable Annual Affiliated
Funds Fee Rate for the Fund of Funds shall be equal to (i) the sum of the amounts determined by
applying the annual percentage rates for Affiliated Fund Assets in the fee schedule to the
applicable portions of the net assets or Aggregate Net Assets of the Fund of Funds divided
by (ii) the net assets or Aggregate Net Assets, respectively, of the Fund of Funds. The
daily fee accrual on Affiliated Fund Assets will be computed by multiplying the fraction of one
over the number of calendar days in the year by the Applicable Annual Affiliated Funds Fee Rate,
and multiplying this product by the Affiliated Fund Assets of the Fund of Funds.
(b) Fee on Other Assets. The fee on Other Assets is stated as an annual percentage of
the current value of either the net assets or the Aggregate Net Assets (as
applicable) of the Fund of Funds, in each case determined in accordance with the fee schedule set
forth below for the Fund of Funds, and that percentage rate (the “Applicable Annual Other Assets
Fee Rate”) is applied to the Other Assets of the Fund of Funds. For each day the Applicable Annual
Other Assets Fee Rate for the Fund of Funds shall be equal to (i) the sum of the amounts determined
by applying the annual percentage rates for Other Assets in the fee schedule to the applicable
portions of the net assets or Aggregate Net Assets of the Fund of Funds, divided by (ii)
the net assets or Aggregate Net Assets, respectively, of the Fund of Funds. The daily fee
accrual on Other Assets will be computed by multiplying the fraction of one over the number of
calendar days in the year by the Applicable Annual Other Assets Fee Rate, and multiplying this
product by the Other Assets of the Fund of Funds.
Net assets, Aggregate Net Assets, Affiliated Fund Assets and Other Assets with respect to a
Fund of Funds shall be determined as of the close of business on the previous business day of JHT
for JHT Funds, as of the close of business on the previous business day of JHF II for JHF II Funds
and as of the close of business on the previous business day of JHF III for JHF III Funds.
If, with respect to any Fund of Funds, this Agreement becomes effective or terminates, or if
the manner of determining the Applicable Annual Affiliated Funds Fee Rate or the Applicable Annual
Other Assets Fee Rate changes, before the end of any month, the fee (if any) for the period from
the effective date to the end of such month or from the beginning of such month to the date of
termination or from the beginning of such month to the date such change, as the case may be, shall
be prorated according to the proportion which such period bears to the full month in which such
effectiveness or termination or change occurs.
Fee Schedules:
Rates Applied to Net Assets of the Fund of Funds | ||||||||||||||||
Fund of Funds | Affiliated Fund Assets | Other Assets | ||||||||||||||
First | Excess Over | First | Excess Over | |||||||||||||
$500 million | $500 million | $500 million | $500 million | |||||||||||||
Core Allocation Trust |
0.050 | % | 0.040 | % | 0.500 | % | 0.490 | % | ||||||||
Core Balanced Trust |
0.050 | % | 0.040 | % | 0.500 | % | 0.490 | % | ||||||||
Core Balanced Strategy Trust |
0.050 | % | 0.040 | % | 0.500 | % | 0.490 | % | ||||||||
Core Disciplined Diversification Trust |
0.050 | % | 0.040 | % | 0.500 | % | 0.490 | % | ||||||||
Core Fundamental Holdings Trust |
0.050 | % | 0.040 | % | 0.500 | % | 0.490 | % | ||||||||
Core Global Diversification Trust |
0.050 | % | 0.040 | % | 0.500 | % | 0.490 | % | ||||||||
Core Strategy Trust |
0.050 | % | 0.040 | % | 0.500 | % | 0.490 | % | ||||||||
Franklin Xxxxxxxxx Founding
Allocation Trust |
0.050 | % | 0.040 | % | 0.500 | % | 0.490 | % |
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Lifecycle Trusts
Rates Applied to Aggregate Net Assets of the Fund of Funds (1) | ||||||||||||||||
Fund of Funds | Affiliated Fund Assets | Other Assets | ||||||||||||||
First | Excess Over | First | Excess Over | |||||||||||||
$7.5 billion | $7.5 billion | $7.5 billion | $7.5 billion | |||||||||||||
Each Lifecycle Trust |
0.060 | % | 0.050 | % | 0.510 | % | 0.500 | % |
(1) | Aggregate Net Assets. For each Lifecycle Trust, Aggregate Net Assets include the net assets of all the JHT Lifecycle Trusts and the net assets of all the JHF II Lifecycle Portfolios. The JHF II Lifecycle Portfolios are: the Lifecycle 2010 Portfolio, Lifecycle 2015 Portfolio, Lifecycle 2020 Portfolio, Lifecycle 2025 Portfolio, Lifecycle 2030 Portfolio, Lifecycle 2035 Portfolio, Lifecycle 2040 Portfolio, Lifecycle 2045 Portfolio and Lifecycle 2050 Portfolio. |
Lifestyle Trusts
Rates Applied to Aggregate Net Assets of the Fund of Funds (1) | ||||||||||||||||
Fund of Funds | Affiliated Fund Assets | Other Assets | ||||||||||||||
First | Excess Over | First | Excess Over | |||||||||||||
$7.5 billion | $7.5 billion | $7.5 billion | $7.5 billion | |||||||||||||
Each Lifestyle Trust |
0.050 | % | 0.040 | % | 0.500 | % | 0.490 | % |
(1) | Aggregate Net Assets. For each Lifestyle Trust, Aggregate Net Assets include the net assets of all the JHT Lifestyle Trusts and the net assets of all the JHF II Lifestyle Portfolios. The JHF II Lifestyle Portfolios are: the Lifestyle Aggressive Portfolio, Lifestyle Balanced Portfolio, Lifestyle Conservative Portfolio, Lifestyle Growth Portfolio and Lifestyle Moderate Portfolio. |
14
American Fund of Funds
American Fundamental Holdings Trust
American Global Diversification Trust
Core Diversified Growth & Income Trust
American Global Diversification Trust
Core Diversified Growth & Income Trust
Advisory Fee
0.050%
— first $500 million of Aggregate Net Assets*
0.040% — excess over $500 million of Aggregate Net Assets*
0.040% — excess over $500 million of Aggregate Net Assets*
* | Aggregate Net Assets include the net assets of the following funds: |
Xxxx Xxxxxxx Trust
American Fundamental Holdings Trust
American Global Diversification Trust
Core Diversified Growth & Income Trust
American Fundamental Holdings Trust
American Global Diversification Trust
Core Diversified Growth & Income Trust
Xxxx Xxxxxxx Funds II
Core Fundamental Holdings Fund
Core Global Diversification Fund
Core Diversified Growth &Income Fund
Core Fundamental Holdings Fund
Core Global Diversification Fund
Core Diversified Growth &Income Fund
15