Contract
Exhibit (h)( 1)(vii)
AMENDMENT NO. 7
TO THE
MUTUAL FUNDS SERVICE AGREEMENT
AMENDMENT NO. 7, dated as of December 5, 2019 (“Amendment No. 7”), to the Mutual Funds Service Agreement dated September 1, 2014 (the “Agreement”) between 1290 Funds, a Delaware statutory trust (“Trust”), and AXA Equitable Funds Management Group, LLC d/b/a 1290 Asset Managers, a Delaware limited liability company (“FMG LLC” or “Administrator”).
The Trust and FMG LLC agree to modify the Agreement as follows:
| 1. | Section 4 (b)(ii) of the Agreement is hereby replaced in its entirety with the following Section 4(b)(ii): In connection with providing the services identified above, FMG LLC will also: provide, without additional remuneration from or other cost to the Trust except for out-of-pocket expenses, the services of individuals to serve as officers of the Trust who will be designated by FMG LLC and elected by the Board subject to reasonable Board approval, provided, that this provision shall not be construed in a manner that would prohibit the Trust from paying any portion of the compensation of the Trust’s Chief Compliance Officer. |
Except as modified and amended hereby, the Agreement is hereby ratified and confirmed in full force and effect in accordance with its terms.
IN WITNESS WHEREOF, the parties have executed and delivered this Amendment No. 7 as of the date first above set forth.
| 1290 FUNDS | AXA EQUITABLE FUNDS MANAGEMENT GROUP, LLC d/b/a 1290 ASSET MANAGERS | |||||||
| By: | /s/ Xxxxx Xxxxx Xxxxx Xxxxx Chief Financial Officer and Treasurer |
By: |
/s/ Xxxxxx Xxxx Xxxxxx Xxxx Director, Senior Vice President and Chief Operating Officer | |||||
SCHEDULE A
AMENDMENT NO. 7
MUTUAL FUNDS SERVICE AGREEMENT
Fees and Expenses
Trust Administration, Accounting and Compliance Fees
| Fund(s) |
Fee | |
| 1290 Convertible Securities 1290 DoubleLine Dynamic Allocation 1290 GAMCO Small/Mid Cap Value 1290 Low Volatility Global Equity Fund 1290 Global Talents Fund 1290 High Yield Bond 1290 Multi-Alternative Strategies 1290 SmartBeta Equity 1290 Diversified Bond Fund
1290 Retirement 2020 Fund 1290 Retirement 2025 Fund 1290 Retirement 2030 Fund 1290 Retirement 2035 Fund 1290 Retirement 2040 Fund 1290 Retirement 2045 Fund 1290 Retirement 2050 Fund 1290 Retirement 2055 Fund 1290 Retirement 2060 Fund |
The greater of 0.15% of each Fund’s average daily net assets, or $30,000 per Fund (or $30,000 for each allocated portion (or sleeve) of a Fund). |
