Amendment to the AMERICAN BEACON FUNDS AMERICAN BEACON MILEAGE FUNDS AMERICAN BEACON SELECT FUNDS AMERICAN BEACON MASTER TRUST MANAGEMENT AGREEMENT
Amendment
to
the
AMERICAN
BEACON MILEAGE FUNDS
AMERICAN
BEACON SELECT FUNDS
AMERICAN
BEACON MASTER TRUST
The attached amended Schedule A
replaces Schedule A of the Management Agreement dated September 12, 2008 (the
“Agreement”) by and between the American Beacon Funds, the American Beacon
Mileage Funds, the American Beacon Select Funds and the American Beacon Master
Trust, each a Massachusetts business trust (each, a “Trust”), on behalf of each
Fund of a Trust listed on Schedule A hereto, as may be amended from time to time
(each, a “Fund”), and American Beacon Advisors, Inc., a Delaware corporation
(“Manager”).
Dated:
March __, 2010
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AMERICAN
BEACON MILEAGE FUNDS
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AMERICAN
BEACON SELECT FUNDS
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AMERICAN
BEACON MASTER TRUST
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By:
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Xxxxxxxx
X. Xxxxx
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Vice
President and Secretary
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AMERICAN
BEACON ADVISORS, INC.
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By:
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Xxxxxxx
X. Xxxxx
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Executive
Chairman
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Amended
Schedule
A
to
the
AMERICAN
BEACON MILEAGE FUNDS
AMERICAN
BEACON SELECT FUNDS
AMERICAN
BEACON MASTER TRUST
I. Management
Fees
As compensation pursuant to Paragraph 7
of the Management Agreement for services rendered pursuant to such Agreement
(other than the securities lending services set forth in Paragraph 2(b) of the
Agreement, the American Beacon Funds shall pay to the Manager a fee, computed
daily and paid monthly, at the following annual rates as a percentage of each
Fund’s average daily net assets plus (with respect to
those Funds listed in subsection (1) immediately below) all fees payable by the
Manager with respect to such Funds pursuant to agreements entered into with
Subadvisers pursuant to Paragraph 2(f) of the Management Agreement:
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(1)
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Balanced
Fund
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0.05%
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Emerging
Markets Fund
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0.05%
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Enhanced
Income Fund
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0.05%
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High
Yield Bond Fund
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0.05%
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International
Equity Fund
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0.05%
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International
Equity Index Fund
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0.05%
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Large
Cap Growth Fund
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0.05%
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Large
Cap Value Fund
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0.05%
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Mid-Cap
Value Fund
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0.05%
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S&P
500 Index Fund
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0.05%
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Small
Cap Index Fund
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0.05%
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Small
Cap Value Fund
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0.05%
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Small
Cap Value Opportunity Fund
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0.05%
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Treasury
Inflation Protected Securities Fund
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0.05%
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Global
Real Estate Fund
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0.05%
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To the extent and for such periods of
time that a Fund invests all of its investable assets (i.e., securities and
cash) in another registered investment company pursuant to a master-feeder
arrangement, then such Fund will not pay the Manager a fee pursuant to the
schedule set forth immediately above.
B. American Beacon Mileage
Funds
As compensation pursuant to Paragraph 7
of the Management Agreement for services rendered pursuant to that Agreement
(other than the securities lending services set forth in Paragraph 2(b) of that
Agreement), the American Beacon Mileage Funds shall pay to the Manager, computed
daily and paid monthly, at the following annual rates as percentages of each
Fund’s average daily net assets:
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Money
Market Fund
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0.09%
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To the extent and for such periods of
time that a Fund invests all of its investable assets (i.e., securities and
cash) in another registered investment company pursuant to a master-feeder
arrangement, then such Fund shall not pay the Manager a fee pursuant to the
schedule set forth immediately above.
C. American Beacon Select
Funds
As compensation pursuant to Paragraph 7
of the Management Agreement for services rendered pursuant to that Agreement
(other than the securities lending services set forth in Paragraph 2(b) of that
Agreement), the American Beacon Select Funds shall pay to the Manager a fee,
computed daily and paid monthly, at the following annual rates as a percentage
of each Fund’s average daily net assets:
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Money
Market Fund
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0.09%
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U.S.
Government Money Market Select Fund
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0.09%
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To the extent and for such periods that
a Fund invests all of its investable assets (i.e., securities and cash) in
another registered investment company pursuant to a master-feeder arrangement,
then such Fund shall not pay the Manager a fee pursuant to the schedule set
forth immediately above.
D. American Beacon Master
Trust
As compensation pursuant to Paragraph 7
of the Management Agreement for services rendered pursuant to that Agreement
(other then the securities lending services set forth in Paragraph 2(b) of that
Agreement), the American Beacon Master Trust shall pay to the Manager a fee,
computed daily and paid monthly, at the following annual rates as a percentage
of each Fund’s average daily net assets:
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Money
Market Portfolio
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0.09%
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U.S.
Government Money Market Portfolio
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0.09%
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II. Advisory
Fees
As compensation pursuant to Paragraph 7
of the Management Agreement for direct portfolio management of a portion of a
Fund’s assets (which is in addition to the direct portfolio management services
of a Fund’s short-term cash assets) rendered pursuant to such Agreement (other
than the management services set forth in Paragraph 7 and the securities lending
services set forth in Paragraph 2(b) of that Agreement), the American Beacon
Funds shall pay to the Manager an advisory fee, computed daily and paid monthly,
at the following annual rates as a percentage of the portion of the Fund’s
average daily net assets managed by the Manager:
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Balanced
Fund
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0.15%
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Enhanced
Income Fund
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0.15%
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III. Securities Lending
Fees
As compensation for services provided
by the Manager in connection with securities lending activities of each Fund of
a Trust, a lending Fund shall pay to the Manager, with respect to cash
collateral posted by borrowers, a fee of up to 25% of the net monthly interest
income (the gross interest income earned by the investment of cash collateral,
less the amount paid to borrowers as well as related expenses) from such
activities and, with respect to loan fees paid by borrowers when a borrower
posts collateral other than cash, a fee up to 25% of such loan
fees.
Dated: March
__, 2010
