JOHN HANCOCK FUNDS II AMENDMENT TO ADVISORY AGREEMENT
XXXX XXXXXXX FUNDS II
AMENDMENT TO ADVISORY
AGREEMENT
AMENDMENT (the “Amendment”) made this 17th day of December, 2014, to the Advisory Agreement dated January 1, 2014, as amended, between Xxxx Xxxxxxx Funds II, a Massachusetts business trust (the “Trust”) and Xxxx Xxxxxxx Advisers, LLC, a Delaware limited liability company (“XXX” or the “Adviser”). In consideration of the mutual covenants contained herein, the parties agree as follows:
1. | CHANGES IN APPENDIX A |
Appendix A is amended to: (i) reduce the advisory fees for the Total Return Fund and (ii) reduce the advisory fees for the Alternative Asset Allocation Fund. | |
2. | EFFECTIVE DATES |
The Amendment shall become effective on January 1, 2015 following approval of the Amendment by the Board of Trustees of the Trust. |
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Xxxx Xxxxxxx Funds II
By: | /s/ Xxxxxx X. Xxxxxx |
Name: | Xxxxxx X. Xxxxxx |
Title: | President |
Xxxx Xxxxxxx Advisers, LLC
By: | /s/ Xxx Xxxxxxx |
Name: | Xxx Xxxxxxx |
Title: | Senior Vice President and Chief Investment Officer |
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APPENDIX A
ADVISORY FEE SCHEDULES
The Adviser shall serve as investment adviser for each Fund 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 Fund, the fee computed separately for such Fund at an annual rate as follows (the "Adviser Fee").
The term Aggregate Net Assets in the chart below includes the net assets of a Fund of the Trust. It also includes with respect to certain Funds 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 Fund 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 Fund 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 Fund shall be based on the applicable annual fee rate for the Fund 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 Fund 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 Fund. Fees shall be paid either by wire transfer or check, as directed by the Adviser.
If, with respect to any Fund, 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.
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Advisory Fee Schedules
Aggregate Net Assets Include | ||||
the Net Assets of the following | ||||
funds in addition to the Trust | ||||
Trust Portfolio | Portfolio | Advisory Fee of the Trust Portfolio | ||
Active Bond Fund | Active Bond Trust (JHVIT) | 0.600% first $2.5 billion; | ||
0.575% next $2.5 billion; and | ||||
0.550% excess over $5 billion. | ||||
All Cap Core Fund | All Cap Core Trust (JHVIT) | 0.800% — first $500 million; and 0.750% — excess | ||
over $500 million. | ||||
Alpha Opportunities Fund | Alpha Opportunities Trust | 1.025% — first $250 million; | ||
(JHVIT) | 1.00% — next $250 million; | |||
0.975% — next $500 million; and | ||||
0.950% — excess over $1 billion. | ||||
Alternative Asset Allocation | N/A | See below | ||
Fund | ||||
Asia Pacific Total Return Bond | N/A | 0.725% --- first $250 million; | ||
Fund (formerly Asia Pacific | 0.700% --- next $250 million; and | |||
Total Return Bond Fund) | 0.600% --- excess over $500 million. | |||
Blue Chip Growth Fund | Blue Chip Growth Trust | 0.825% — first $1 billion; and | ||
(JHVIT) | 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. | ||||
Capital Appreciation Fund | Capital Appreciation Trust | 0.850% — first $300 million; 0.800% — between | ||
(JHVIT) | $300 million and $500 million; 0.700% — between | |||
$500 million and $1 billion; and 0.670% — excess | ||||
over $1 billion. | ||||
Capital Appreciation Value Fund | Capital Appreciation Value | See below | ||
Trust (JHVIT) | ||||
Emerging Leaders Fund | Emerging Markets Value Trust | 1.00% — first $100 million; 0.950% - excess over | ||
(formerly China Emerging | (JHVIT); Emerging Markets | $100 million. | ||
Leaders Fund) | Fund |
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Core Bond Fund | Core Bond Trust (JHVIT) | 0.690% — first $200 million; 0.640% — next $200 | ||
million; and 0.570% — excess over $400 million. | ||||
Absolute Return Currency Fund | Currency Strategies Trust | 0.950% — first $250 million; | ||
(formerly Currency Strategies | (JHVIT) | 0.900% — next $250 million; and | ||
Fund) | 0.850% — excess over $500 million. | |||
Diversified Strategies Fund | N/A | 1.000% — first $500 million; and | ||
0.950% — excess over $500 million. | ||||
Emerging Markets Fund | Emerging Markets Value Trust | 1.00% — first $100 million; 0.950% - excess over | ||
(JHVIT); Emerging Leaders | $100 million. | |||
Fund | ||||
Emerging Markets Debt Fund | Not applicable | 0.725% — first $250 million; 0.700% — next $500 | ||
million; and 0.675% — excess over $750 million. | ||||
Equity-Income Fund | Equity-Income Trust (JHVIT) | 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 | ||||
on the first $1 billion of Aggregate Net Assets. | ||||
Financial Services Fund | Financial Services Trust | 0.800% — first $50 million; | ||
(JHVIT) | 0.775% — next $450 million; and | |||
0.750% — excess over $500 million. | ||||
Floating Rate Income Fund | N/A | 0.700% — first $1.1 billion; | ||
0.675% — next $0.90 billion; | ||||
0.650% — next $1.5 billion; and | ||||
0.600% — excess over $3.5 billion. | ||||
Fundamental All Cap Core Fund | Fundamental All Cap Core | 0.675% — first $2.5 billion; | ||
Trust (JHVIT) | 0.650% — excess over $2.5 billion. | |||
Fundamental Global Franchise | N/A | 0.800% --- first $1 billion; and | ||
Fund | 0.780% --- excess over $1 billion. |
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Fundamental Large Cap Core | N/A | 0.725% — first $500 million; 0.700% — next $500 | ||
Fund | million; 0.675% — next $500 million; and 0.650% — | |||
excess over $1.5 billion. | ||||
Fundamental Large Cap Value | Fundamental Large Cap Value | 0.70% — first $500 million; 0.65% — next $500 | ||
Fund | Trust (JHVIT); | million; and 0.60% — excess over $1 billion. | ||
Fundamental Value Trust | ||||
(JHVIT) | ||||
Fundamental Value Fund | Fundamental Value Trust | 0.800% — first $50 million; 0.775% — next $450 | ||
(JHVIT) | million; and 0.750% — excess over $500 million. | |||
Global Absolute Return | N/A | 1.300% --- first $200 million; | ||
Strategies Fund | 1.250% --- next $300 million; | |||
1.200% --- next $2.5 billion*; | ||||
1.150% --- next $2.5 billion; | ||||
1.120% --- next $1.5 billion; | ||||
1.100% --- next $3.0 billion; and | ||||
1.070% --- excess over $10.0 billion. | ||||
* Once aggregate net assets exceed $500 million, | ||||
the rate applies retroactively to all assets at or | ||||
below $3.0 billion. | ||||
Global Bond Fund | Global Bond Trust (JHVIT) | 0.700% — at all asset levels. | ||
Global Equity Fund | N/A | 0.825% First $500 million; and | ||
0.800% Excess over $500 million.* | ||||
* When Aggregate Net Assets exceed $500 million, | ||||
the advisory fee is 0.800% on all asset levels. | ||||
Global Income Fund (formerly | N/A | 0.785% — first $250 million; | ||
Global High Yield Fund) | 0.770% — next $500 million; and | |||
0.750% — excess over $750 million. | ||||
Global Real Estate Fund | N/A | 0.900% — first $500 million; | ||
0.875% — next $250 million; and | ||||
0.850% — excess over $750 million. | ||||
Health Sciences Fund | Health Sciences Trust (JHVIT) | 1.050% --- first $500 million; | ||
1.000% --- next $250 million; and | ||||
0.950% --- excess over $750 million. | ||||
*When Aggregate Net Assets exceed $750
million, the advisory fee is 0.95% on all net assets. |
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High Yield Fund | High Yield Trust (JHVIT) | 0.700% — first $500 million; and 0.650% — excess | ||
over $500 million. | ||||
Income Allocation Fund | N/A | See below | ||
Income Fund | JHVIT | 1.075% first $50 million; | ||
Income Trust | 0.915% next $150 million; | |||
International Value Trust | 0.825% next $300 million; and | |||
Global Trust | 0.800% excess over $500 million. | |||
Mutual Shares Trust | ||||
When Aggregate Net Assets exceed $500 million, the | ||||
JHF II | advisory fee is 0.800% on all net assets of the Income | |||
International Small Cap Fund | Fund. | |||
International Value Fund | ||||
Global Fund | ||||
Mutual Shares Fund | ||||
International Growth Equity | N/A | 0.85% — first $750 million of aggregate net assets; | ||
Fund | 0.80% — next $500 million of aggregate net assets; | |||
and | ||||
0.75% — excess over $1.25 billion of aggregate net | ||||
assets. | ||||
International Growth | N/A | 0.975% --- first $100 million; | ||
Opportunities Fund | 0.850% --- next $300 million; and | |||
0.750% --- excess over $400 million. | ||||
International Growth Stock Fund | International Growth Stock | 0.850% — first $250 million; | ||
Trust (JHVIT) | 0.800% — next $500 million; and | |||
0.750% — excess over $750 million. | ||||
International Small Cap Fund | N/A | 1.050% — first $200 million; 0.950% — next $300 | ||
million; and 0.850% — excess over $500 million. | ||||
International Small Company | International Small Company | 0.950% — at all asset levels. | ||
Fund | Trust (JHVIT) |
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International Value Fund | JHVIT | 0.950% first $150 million; | ||
Global Trust | 0.850% next $150 million; and | |||
Income Trust | 0.800% excess over $300 million. | |||
International Value Trust | ||||
Mutual Shares Trust | When Aggregate Net Assets exceed $300 million, the | |||
advisory fee rate is 0.800% on all net assets. | ||||
JHF II | ||||
Global Fund | ||||
Income Fund | ||||
International Small Cap Fund | ||||
Mutual Shares Fund | ||||
Investment Quality Bond Fund | Investment Quality Bond Trust | 0.600% — first $500 million; and | ||
(JHVIT) | 0.550% — excess over $500 million. | |||
Retirement Living Portfolios | Lifecycle Trusts (JHVIT) | See below | ||
Retirement Choices | ||||
Retirement Living II | ||||
Retirement Living II Portfolios | Lifecycle Trusts (JHVIT) | See below | ||
Retirement Choices | ||||
Retirement Living | ||||
Lifestyle Portfolios | Lifestyle Trusts (JHVIT) | See below | ||
Lifestyle PS Series (JHVIT) | ||||
Lifestyle II Portfolios | ||||
Lifestyle II Portfolios | Lifestyle Trusts (JHVIT) | See below | ||
Lifestyle PS Series (JHVIT) | ||||
Lifestyle Portfolios | ||||
Mid Cap Growth Index Fund | N/A | 0.530% -- first $50 million; 0.510% -- next $50 | ||
million; and | ||||
0.490% — excess over $100 million. | ||||
Mid Cap Stock Fund | Mid Cap Stock Trust (JHVIT) | 0.875% — first $200 million; 0.850% — next $300 | ||
million; and 0.825% — excess over $500 million. | ||||
Mid Cap Value Index Fund | N/A | 0.530% -- first $50 million; 0.510% -- next $50 | ||
million; and | ||||
0.490% — excess over $100 million. | ||||
Mid Value Fund | Mid Value Trust (JHVIT) | 1.050% — first $50 million; | ||
1.00% — excess over $50 million. |
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Short Duration Credit | N/A | 0.740% — first $250 million; | ||
Opportunities Fund (formerly | 0.700% — next $500 million; and | |||
Multi Sector Bond Fund) | 0.675% — excess over $750 million. | |||
Mutual Shares Fund | Mutual Shares Trust (JHVIT) | 0.960% first $750 million; | ||
0.920% excess over $750 million.# | ||||
#When Aggregate Net Assets for the JHVIT Mutual | ||||
Shares Trust and JHF II Mutual Shares Fund exceed | ||||
$750 million, the advisory fee is 0.92% on all net assets | ||||
of the Mutual Shares Fund. | ||||
Natural Resources Fund | N/A | 1.000% - first $500 million; | ||
0.950% - next $500 million; | ||||
0.900% - next $1 Billion; and | ||||
0.850% - excess over $2 Billion. | ||||
Real Estate Equity Fund | N/A | 0.875% — first $250 million; 0.850% — next $250 | ||
million; and 0.825% — excess over $500 million. | ||||
Real Estate Securities Fund | Real Estate Securities Trust | 0.700% — at all asset levels. | ||
(JHVIT) | ||||
Real Return Bond Fund | Real Return Bond Trust | 0.700% — first $1 billion; and 0.650% — excess over | ||
(JHVIT) | $1 billion. | |||
Redwood Fund | N/A | 1.200% --- first $100 million; | ||
1.150% --- next $100 million; | ||||
1.100% --- above $200 million, retroactive to prior | ||||
asset levels; and | ||||
1.050% --- excess over $500 million. | ||||
Retirement Choices Portfolios | Lifecycle Trusts (JHVIT) | See below | ||
Retirement Living | ||||
Retirement Living II | ||||
Science & Technology Fund | Science & Technology Trust | 1.050% — first $500 million; and 1.000% — excess | ||
(JHVIT) | over $500 million. | |||
Short Term Government Income | Short Term Government | 0.570% — first $250 million; and | ||
Fund | Income Trust (JHVIT) | 0.550% — excess over $250 million. | ||
Small Cap Growth Fund | Small Cap Growth Trust | 1.100% — first $100 million; | ||
1.050% — next $400 million; and | ||||
1.000% — excess over $500 million. |
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Small Cap Opportunities Fund | Small Cap Opportunities Trust | 1.000% — first $500 million; | ||
(JHVIT) | 0.950% — next $500 million; | |||
0.900% — next $1 billion.; and | ||||
0.850% — excess over $2 billion. | ||||
Small Cap Value Fund | Small Cap Value Trust (JHVIT) | 1.100% — first $100 million; | ||
1.050% — next $500 million; and | ||||
1.000% — excess over $600 million. | ||||
Small Company Growth Fund | JHVIT | 1.050% — first $250 million; and | ||
Small Company Growth Trust | 1.000% — excess over $250 million. | |||
Small Cap Opportunities Trust | ||||
International Growth Stock | The applicable rate is 1.000% on all net assets of the | |||
Trust | Small Company Growth Fund when the Aggregate | |||
Value Trust | Net Assets exceed $1 billion. | |||
JHF II | ||||
Small Cap Opportunities Fund | ||||
International Growth Stock | ||||
Fund | ||||
Value Fund | ||||
Small Company Value Fund | Small Company Value Trust | 1.050% — first $500 million; and 1.000% — excess | ||
(JHVIT) | over $500 million. | |||
Spectrum Income Fund | New Income Trust (JHVIT) | 0.800% — first $250 million; and 0.725% — excess | ||
over $250 million. | ||||
Strategic Equity Allocation Fund | Strategic Equity Allocation | 0.675% -- first $2.5 billion; | ||
Trust (JHVIT) | 0.650% -- next $5 billion; | |||
0.625% -- next $2.5 billion; and | ||||
0.600% -- excess over $10 billion. | ||||
Strategic Income Opportunities | JHF II | 0.700% first $500 million; | ||
Fund | Income Allocation Fund, only | 0.650% next $3 billion; and | ||
with respect to the assets of | 0.600% excess over $3.5 billion. | |||
Income Allocation Fund | ||||
managed according to the | ||||
subadviser’s strategic income | ||||
opportunities strategy | ||||
JHVIT | ||||
Strategic Income Opportunities | ||||
Trust |
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Technical Opportunities Fund | N/A | 1.20% first $250 million; and | ||
1.15% excess over $250 million. | ||||
Total Return Fund | Total Return Trust (JHVIT) | See below | ||
U.S. High Yield Bond Fund | N/A | 0.750% — first $200 million; and | ||
0.720% — excess over $200 million. | ||||
U.S. Equity Fund | U.S. Equity Trust (JHVIT) | 0.780% — first $500 million; 0.760% — next $500 | ||
million; and 0.740% — excess over $1 billion. | ||||
Value Fund | Value Trust (JHVIT) | 0.750% — first $200 million; 0.725% — next $300 | ||
million; and 0.650% — excess over $500 million. |
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Capital Appreciation Value Fund
If net assets are less than $500 million, the following fee schedule shall apply:
First $250 | |
million of | |
Aggregate Net | Excess Over $250 million |
Assets | of Aggregate Net Assets |
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 Aggregate | Excess Over $1 billion of |
Net Assets | Aggregate Net Assets |
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 | |
Aggregate Net | Excess Over $500 million |
Assets | of Aggregate Net Assets |
0.850% | 0.800% |
If net assets equal or exceed $3 billion, the following fee schedule shall apply:
All Asset |
Levels |
0.800% |
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Total Return Fund
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
First | Excess Over | |||
$1 Billion | $1 Billion | |||
of Total Return | of Total Return | |||
Portfolio | Net Assets** | Net Assets** | ||
Total Return Fund | 0.700% | 0.650% |
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 Fund | 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 Trust, a series of Xxxx Xxxxxxx Variable Insurance Trust but only for the period during which the subadviser for the Portfolio also serves as the subadviser for the Total Return Trust. 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.
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Funds of Funds
The Adviser shall serve as investment adviser for each Portfolio listed below (each a “Fund of Funds”).
Lifestyle Aggressive Portfolio | Retirement Living through 2010 Portfolio |
Lifestyle Balanced Portfolio | Retirement Living through 2015 Portfolio |
Lifestyle Conservative Portfolio | Retirement Living through 2020 Portfolio |
Lifestyle Growth Portfolio | Retirement Living through 2025 Portfolio |
Lifestyle Moderate Portfolio | Retirement Living through 2030 Portfolio |
(collectively, the “Lifestyle Portfolios”) | Retirement Living through 2035 Portfolio |
Retirement Living through 2040 Portfolio | |
Retirement Living through 2045 Portfolio | |
Retirement Choices at 2010 Portfolio | Retirement Living through 2050 Portfolio |
Retirement Choices at 2015 Portfolio | Retirement Living through 2055 Portfolio |
Retirement Choices at 2020 Portfolio | (collectively, the “Retirement Living Portfolios”) |
Retirement Choices at 2025 Portfolio | |
Retirement Choices at 2030 Portfolio | |
Retirement Choices at 2035 Portfolio | Retirement Living through II 2010 Portfolio |
Retirement Choices at 2040 Portfolio | Retirement Living through II 2015 Portfolio |
Retirement Choices at 2045 Portfolio | Retirement Living through II 2020 Portfolio |
Retirement Choices at 2050 Portfolio | Retirement Living through II 2025 Portfolio |
Retirement Choices at 2055 Portfolio | Retirement Living through II 2030 Portfolio |
(collectively, the “Retirement Choices Portfolios”) | Retirement Living through II 2035 Portfolio |
Retirement Living through II 2040 Portfolio | |
Retirement Living through II 2045 Portfolio | |
Lifestyle II Aggressive Portfolio | Retirement Living through II 2050 Portfolio |
Lifestyle II Balanced Portfolio | Retirement Living through II 2055 Portfolio |
Lifestyle II Conservative Portfolio | (collectively, the “Retirement Living II Portfolios”) |
Lifestyle II Growth Portfolio | |
Lifestyle II Moderate Portfolio | Alternative Asset Allocation Fund |
(collectively, the “Lifestyle II Portfolios”) | Income Allocation Fund |
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 (“JHVIT”), Xxxx Xxxxxxx Funds II (“JHF II”) or Xxxx Xxxxxxx Funds III (“JHF III”), excluding the following funds of JHVIT: the Money Market Trust B, 500 Index Trust B, International Equity Index Trust B and Total Bond Market Trust B.
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“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 JHVIT, JHF II or JHF III, but only with respect to and for so long as such other Fund of Funds is 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 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 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, as applicable, 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, as applicable, 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 JHVIT for JHVIT 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.
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Fee Schedules:
Lifestyle Portfolios
Rates Applied to Aggregate Net Assets of the Fund of
Funds (1) | ||||||||
Affiliated Fund Assets | Other Assets | |||||||
First | Excess Over | First | Excess Over | |||||
Fund of Funds | $7.5 billion | $7.5 billion | $7.5 billion | $7.5 billion | ||||
Each Lifestyle Portfolio | 0.050% | 0.040% | 0.500% | 0.490% |
(1) Aggregate Net Assets. For each Lifestyle Portfolio, Aggregate Net Assets include the net assets of all the Lifestyle Portfolios, the net assets of all the Lifestyle II Portfolios, the net assets of all the JHVIT Lifestyle Trusts and the net assets of all the JHVIT Lifestyle PS Series. The JHVIT Lifestyle Trusts are: the Lifestyle Aggressive Trust, Lifestyle Balanced Trust, Lifestyle Conservative Trust, Lifestyle Growth Trust and Lifestyle Moderate Trust. The JHVIT Lifestyle PS Series are: the Lifestyle Aggressive PS Series, Lifestyle Balanced PS Series, Lifestyle Conservative PS Series, Lifestyle Growth PS Series and Lifestyle Moderate PS Series.
Rates Applied to Aggregate Net Assets of the Fund of
Funds (1) | ||||||||
Affiliated Fund Assets | Other Assets | |||||||
First | Excess Over | First | Excess Over | |||||
Fund of Funds | $7.5 billion | $7.5 billion | $7.5 billion | $7.5 billion | ||||
Each Lifestyle II Portfolio | 0.050% | 0.040% | 0.500% | 0.490% |
(1) Aggregate Net Assets. For each Lifestyle II Portfolio, Aggregate Net Assets include the net assets of all the Lifestyle II Portfolios, the net assets of all the Lifestyle Portfolios, the net assets of all the JHVIT Lifestyle Trusts and the net assets of all the JHVIT Lifestyle PS Series. The JHVIT Lifestyle Trusts are: the Lifestyle Aggressive Trust, Lifestyle Balanced Trust, Lifestyle Conservative Trust, Lifestyle Growth Trust and Lifestyle Moderate Trust. The JHVIT Lifestyle PS Series are: the Lifestyle Aggressive PS Series, Lifestyle Balanced PS Series, Lifestyle Conservative PS Series, Lifestyle Growth PS Series and Lifestyle Moderate PS Series.
Retirement Living Portfolios
Rates Applied to Aggregate Net Assets of the
Fund of Funds (1) | ||||||||
Affiliated Fund Assets | Other Assets | |||||||
First | Excess Over | First | Excess Over | |||||
Fund of Funds | $7.5 billion | $7.5 billion | $7.5 billion | $7.5 billion | ||||
Each Retirement Living Portfolio | 0.060% | 0.050% | 0.510% | 0.500% |
(1) Aggregate Net Assets. For each Retirement Living Portfolio, Aggregate Net Assets include the net assets of all the Retirement Living Portfolios, the net assets of all the Retirement Living II Portfolios, the net assets of all the Retirement Choices Portfolios, and the net assets of all the JHVIT Lifecycle Trusts. The JHVIT Lifecycle Trusts are: the Lifecycle 2010 Trust, Lifecycle 2015 Trust, Lifecycle 2020 Trust, Lifecycle 2025 Trust, Lifecycle 2030 Trust, Lifecycle 2035 Trust, Lifecycle 2040 Trust, Lifecycle 2045 Trust and Lifecycle 2050 Trust.
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Retirement Living II Portfolios
Rates Applied to Aggregate Net Assets of the
Fund of Funds (1) | ||||||||
Affiliated Fund Assets | Other Assets | |||||||
First | Excess Over | First | Excess Over | |||||
Fund of Funds | $7.5 billion | $7.5 billion | $7.5 billion | $7.5 billion | ||||
Each Retirement Living II Portfolio | 0.060% | 0.050% | 0.510% | 0.500% |
(1) Aggregate Net Assets. For each Retirement Living II Portfolio, Aggregate Net Assets include the net assets of all the Retirement Living II Portfolios, the net assets of all the Retirement Living Portfolios, the net assets of all the Retirement Choices Portfolios, and the net assets of all the JHVIT Lifecycle Trusts. The JHVIT Lifecycle Trusts are: the Lifecycle 2010 Trust, Lifecycle 2015 Trust, Lifecycle 2020 Trust, Lifecycle 2025 Trust, Lifecycle 2030 Trust, Lifecycle 2035 Trust, Lifecycle 2040 Trust, Lifecycle 2045 Trust and Lifecycle 2050 Trust.
Retirement Choices Portfolios
Rates Applied to Aggregate Net Assets of the
Fund of Funds (1) | ||||||||
Affiliated Fund Assets | Other Assets | |||||||
First | Excess Over | First | Excess Over | |||||
Fund of Funds | $7.5 billion | $7.5 billion | $7.5 billion | $7.5 billion | ||||
Each Retirement Choices Portfolio | 0.060% | 0.050% | 0.510% | 0.500% |
(1) Aggregate Net Assets. For each Retirement Choices Portfolio, Aggregate Net Assets include the net assets of all the Retirement Choices Portfolios, the net assets of all the Retirement Living Portfolios, the net assets of all the Retirement Living II Portfolios, and the net assets of all the JHVIT Lifecycle Trusts. The JHVIT Lifecycle Trusts are: the Lifecycle 2010 Trust, Lifecycle 2015 Trust, Lifecycle 2020 Trust, Lifecycle 2025 Trust, Lifecycle 2030 Trust, Lifecycle 2035 Trust, Lifecycle 2040 Trust, Lifecycle 2045 Trust and Lifecycle 2050 Trust.
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Alternative Asset Allocation Fund
Rates Applied to net assets of the Fund of
Funds | ||||||||
Affiliated Fund Assets | Other Assets | |||||||
First | Excess Over | First | Excess Over | |||||
Fund of Funds | $5.0 billion | $5.0 billion | $5.0 billion | $5.0 billion | ||||
Alternative Asset Allocation Fund | 0.100% | 0.075% | 0.550% | 0.525% |
Income Allocation Fund
Rates Applied to net assets of | Rates Applied to net assets of | |||||||
the Fund of Funds |
the Fund of
Funds | |||||||
Affiliated Fund Assets | Other Assets | |||||||
First | Excess Over | First | Excess Over | |||||
Fund of Funds | $5 billion | $5 billion | $5 billion | $5 billion | ||||
Income Allocation Fund | 0.200% | 0.175% | 0.650% | 0.625% |
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