AMENDMENT TO SUB-ADVISORY AGREEMENT FRANKLIN TEMPLETON ETF TRUST
AMENDMENT TO
XXXXXXXX XXXXXXXXX ETF TRUST
On behalf of
FRANKLIN U.S. LARGE CAP MULTIFACTOR INDEX ETF
This Amendment, effective as of March 1, 2024, is to the Sub-Advisory Agreement (the “Agreement”) effective as of September 11, 2023, by and between FRANKLIN ADVISORY SERVICES, LLC, a Delaware limited liability company (“FASL”), and FRANKLIN XXXXXXXXX INSTITUTIONAL, LLC, a Delaware limited liability company (“FT Institutional”).
WITNESSETH:
WHEREAS, FASL has retained FT Institutional to furnish certain investment advisory services to Franklin U.S. Large Cap Multifactor Index ETF, a series of Franklin Xxxxxxxxx ETF Trust (the “Trust”), as set forth in the Agreement;
WHEREAS, both FASL and FT Institutional wish to amend the first sentence of Paragraph 3.(a) of the Agreement; and
WHEREAS, the Board of Trustees of the Trust, including a majority of the Independent Trustees of the Trust, approved the following amendment at a meeting called for such purpose on February 29, 2024.
NOW, THEREFORE, in consideration of the foregoing premises, the parties hereto agree that the first sentence of Paragraph 3.(a) of the Agreement is removed and replaced with the following:
FASL shall pay to FT Institutional a monthly fee in U.S. dollars equal to 50% of the net investment advisory fee payable by the Fund to FASL (the “Net Investment Advisory Fee”), calculated daily, as compensation for the services rendered and obligations assumed by FT Institutional during the preceding month.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on March 4, 2024.
FRANKLIN ADVISORY SERVICES, LLC
By: /s/ Xxxxxxx X’Xxxxxx
Name: Xxxxxxx X’Xxxxxx
Title: President and Chief Investment Officer
FRANKLIN XXXXXXXXX INSTITUTIONAL, LLC
By: /s/ Xxxxxx X. Xxxxxxxx
Name: Xxxxxx X. Xxxxxxxx
Title: Chief Legal Officer
