AMENDMENT TO INVESTMENT MANAGEMENT AGREEMENT
AMENDMENT TO
INVESTMENT MANAGEMENT AGREEMENT
This Amendment, dated as of May 14, 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, the 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 of the Investment Company, including a majority of Trustees who are not interested persons (as defined in the Investment Company Act of 1940, as amended) of the Investment Company, approved the following amendment at a meeting on May 14, 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.]
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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 Mutual Advisers, LLC
By: /s/ Xxxxx Xxxxxxxxx
Name:
Xxxxx Xxxxxxxxx
Title: Executive Vice President
K2/D&S Management Co., L.L.C.
By: /s/ Xxxxx X. Xxxxx
Name:
Xxxxx X. Xxxxx
Title: Chief Compliance Officer
Each
Investment Company and, as applicable, each Series listed on Schedule A
By: /s/ Xxxxxx X. Xxxx
Name:
Xxxxxx X. Xxxx
Title: Vice President and Secretary
2
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Schedule A
|
Investment Company and Series |
Investment Manager |
|
Franklin Value Investors Trust |
|
|
Franklin MicroCap Value Fund |
Franklin Mutual Advisers, LLC |
|
Franklin Mutual U.S. Value Fund |
Franklin Mutual Advisers, LLC |
|
Franklin Small Cap Value Fund |
Franklin Mutual Advisers, LLC |
|
|
|
|
|
|
|
Franklin Mutual Beacon Fund |
Franklin Mutual Advisers, LLC |
|
Franklin Mutual European Fund |
Franklin Mutual Advisers, LLC |
|
Franklin Mutual Financial Services Fund |
Franklin Mutual Advisers, LLC |
|
Franklin Mutual Global Discovery Fund |
Franklin Mutual Advisers, LLC |
|
Franklin Mutual Quest Fund |
Franklin Mutual Advisers, LLC |
|
Franklin Mutual Shares Fund |
Franklin Mutual Advisers, LLC |
|
|
|
|
Franklin Alternative Strategies Funds |
|
|
Franklin K2 Alternative Strategies Fund |
K2/D&S Management Co., L.L.C. |
|
Franklin K2 Long Short Credit Fund |
K2/D&S Management Co., L.L.C. |
A-1
4391252v.1
