AMENDMENT TO SUBADVISORY AGREEMENT
AMENDMENT TO
SUBADVISORY AGREEMENT
This Amendment, dated as of May 13, 2020, is to each Subadvisory Agreement, as amended and/or restated to date (each, an “Agreement”), by and between each Investment Manager (each, an “Investment Manager”) and corresponding Subadvisor (each, a “Subadvisor”) identified on Schedule A, each a registered investment adviser, with respect to 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 corresponding Subadvisor, 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 each Investment Company, including a majority of Trustees 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.]
|
|
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
TEMPLETON 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 Subadvisor 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
FRANKLIN XXXXXXXXX INVESTMENT MANAGEMENT LIMITED
By: /s/XXXXXX X. XXXXXX
Name: Xxxxxx X. Xxxxxx
Title: Chief Executive Officer
|
2 |
|
4391246v.2 |
Schedule A
|
Investment Company and Series |
Investment Manager |
Subadvisor |
|
|
|
|
|
Franklin Xxxxxxxxx SMACS: Series XX |
Xxxxxxxxx Asset Management Ltd. |
Franklin Xxxxxxxxx Investment Management Limited |
|
Templeton Global Balanced Fund |
Xxxxxxxxx Global Advisors Limited |
Franklin Advisers, Inc. |
|
|
|
|
|
Templeton Global Smaller Companies Fund |
Xxxxxxxxx Investment Counsel, LLC |
Franklin Xxxxxxxxx Investments Corp. |
|
|
|
4391246v.2 |
