FIRST AMENDMENT TO AMERICAN BEACON FUNDS
Exhibit 99.(d)(2)(L)(ii)
FIRST AMENDMENT TO
This Amendment to the American Beacon Funds Investment Advisory Agreement (“Amendment”) is made this 1st day of July, 2018 by and among American Beacon Funds, a Massachusetts Business Trust (the “Trust”), American Beacon Advisors, Inc., a Delaware Corporation (the “Manager”), and Xxxxxxxx Investment Management Group, LLC (the “Adviser”);
WHEREAS, the Manager and Adviser entered into an Investment Advisory Agreement dated as of April 30, 2015 (as amended, supplemented, restated or otherwise modified, the “Agreement”), and
WHEREAS, the parties desire to amend certain provisions of the Agreement, as more particularly set for the below.
NOW, THEREFORE, in consideration of mutual covenants herein contained, the parties hereto agree as follows:
| 1. | Amendment to Schedule A of the Agreement |
For the American Beacon Xxxxxxxx Mid-Cap Growth Fund, the compensation to the Adviser table is deleted and replaced with a flat fee of 0.45% per annum on average assets.
| 2. | Miscellaneous |
(a) Except as expressly amended by this Amendment, all provisions of the Agreement shall remain in full force and effect. Capitalized terms used herein without definition shall have the meanings ascribed thereto in the Agreement.
(b) This Amendment may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the day and year first written above.
| Xxxxxxxx Investment Management Group, LLC | American Beacon Advisors, Inc. | |||
| /s/ J. Xxxxxx Xxxxxxx | /s/ Xxxxxxx X. Xxxxxxxx | |||
| By: | J. Xxxxxx Xxxxxxx | By: | Xxxxxxx X. Xxxxxxxx | |
| Title: | President | Title | President and Chief Operating Officer | |
| American Beacon Funds | ||||
| /s/ Xxxx X. Needles, Jr. | ||||
| By: | Xxxx X. Needles, Jr. | |||
| Title: | President | |||
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