AMENDMENT TO INVESTMENT MANAGEMENT AGREEMENT
AMENDMENT TO
INVESTMENT MANAGEMENT AGREEMENT
This Amendment, dated as of May 13, 2020, is to each Investment Management Agreement, as amended and/or restated to date (each, an “Agreement”), by and between each Investment Manager identified on Schedule A, each a registered investment adviser (the “Investment Manager”), and each registered investment company (each, an “Investment Company”), on behalf of itself and, as applicable, its separate series (each, a “Series”) identified opposite the Investment Manager’s name on Schedule A.
WITNESSETH:
WHEREAS, each Investment Manager and each Investment Company, on behalf of itself and, as applicable, each Series, wish to amend the applicable Agreement as provided herein; and
WHEREAS, the Board of Trustees/Directors of each Investment Company, including a majority of Trustees/Directors who are not interested persons (as defined in the Investment Company Act of 1940, as amended) of each Investment Company, approved the following amendment at a meeting on May 13, 2020.
NOW, THEREFORE, in consideration of the foregoing premises, the parties hereto agree that each Agreement is amended to include a new appropriately numbered paragraph/section, as applicable, at the end of the Agreement as follows:
Where the effect of a requirement of the 1940 Act reflected in any provision of the Agreement is revised by rule, interpretation or order of the SEC, such provision shall be deemed to incorporate the effect of such rule, interpretation or order.
[Signature page follows.]
4391243v.2
IN WITNESS WHEREOF, this Amendment has been executed on behalf of each party as of the date set forth above.
Each Investment Manager listed on Schedule A
FRANKLIN
ADVISERS, INC.
By: /s/ Xxxxxx X. Xxxxx
Name: Xxxxxx X. Xxxxx
Title: President
FRANKLIN
XXXXXXXXX INVESTMENTS CORP.
By: /s/ Xxxxx Xxxxx
Name: Xxxxx Xxxxx
Title: Chairman, President & CEO
XXXXXXXXX
ASSET MANAGEMENT LTD.
By: /s/ Xxxxxx Xxxxx Xxxxxx
Name: Xxxxxx Xxxxx Xxxxxx
Title: Co-Chief Executive Officer
XXXXXXXXX
GLOBAL ADVISORS LIMITED
By: /s/Xxxx Xxxxxxxx
Name: Xxxx Xxxxxxxx
Title: President
XXXXXXXXX
INVESTMENT COUNSEL, LLC
By: /s/ Xxxxxxx Xxxxx
Name: Xxxxxxx Xxxxx
Title: President
Each
Investment Company and, as applicable, each Series listed on Schedule A
By: /s/ Xxxx X. Xxxxx
Name: Xxxx X. Xxxxx
Title: Vice President and Secretary
2
4391243v.2
Schedule A
|
Investment Company and Series |
Investment Manager |
|
Templeton China World Fund |
Xxxxxxxxx Asset Management Ltd. |
|
|
|
|
Xxxxxxxxx Developing Markets Trust |
Xxxxxxxxx Asset Management Ltd. |
|
|
|
|
Templeton Dragon Fund, Inc. |
Xxxxxxxxx Asset Management Ltd. |
|
|
|
|
Xxxxxxxxx Emerging Markets Fund |
Xxxxxxxxx Asset Management Ltd. |
|
|
|
|
Xxxxxxxxx Emerging Markets Income Fund |
Franklin Advisers, Inc. |
|
|
|
|
Xxxxxxxxx Funds |
|
|
Templeton Foreign Fund |
Xxxxxxxxx Global Advisors Limited |
|
Xxxxxxxxx International Climate Change Fund |
Franklin Xxxxxxxxx Investments Corp. |
|
Templeton World Fund |
Xxxxxxxxx Global Advisors Limited |
|
|
|
|
Templeton Global Income Fund |
Franklin Advisers, Inc. |
|
|
|
|
Templeton Global Investment Trust |
|
|
Franklin Xxxxxxxxx SMACS: Series XX |
Xxxxxxxxx Asset Management Ltd. |
|
Xxxxxxxxx Emerging Markets Small Cap Fund |
Xxxxxxxxx Asset Management Ltd. |
|
Templeton Global Balanced Fund |
Xxxxxxxxx Global Advisors Limited |
|
|
|
|
Xxxxxxxxx Investment Counsel, LLC |
|
|
|
|
|
Templeton Growth Fund, Inc. |
Xxxxxxxxx Global Advisors Limited |
|
|
|
|
Templeton Income Trust |
|
|
Xxxxxxxxx Emerging Markets Bond Fund |
Franklin Advisers, Inc. |
|
Templeton Global Bond Fund |
Franklin Advisers, Inc. |
|
Templeton Global Total Return Fund |
Franklin Advisers, Inc. |
|
Xxxxxxxxx International Bond Fund |
Franklin Advisers, Inc. |
|
|
|
|
Templeton Institutional Funds |
|
|
Foreign Smaller Companies Series |
Xxxxxxxxx Investment Counsel, LLC |
|
International Equity Series |
Xxxxxxxxx Investment Counsel, LLC |
|
|
|
A-1
4391243v.2
