ADVANCED SERIES TRUST AMENDMENT NO. 10 TO MANAGEMENT AGREEMENT

ADVANCED SERIES TRUST
 

AMENDMENT NO. 10 TO MANAGEMENT AGREEMENT 

Amendment No. 10 to Management Agreement made this 22^nd day of November, 2022, by and between Advanced Series Trust (AST), on behalf of each series listed on Schedule A hereto (collectively, the Portfolios) and PGIM Investments LLC (PGIM Investments or the Manager).  

WHEREAS, the Manager has entered into a Management Agreement (the Management Agreement) dated February 25, 2013 with AST for the Portfolios, as amended from time to time, pursuant to which PGIM Investments acts as Manager of AST; and 

WHEREAS, AST and the Manager have mutually agreed to revise Schedule A of the Management Agreement in order to include the AST X.X. Xxxxxx Fixed Income Central Portfolio as a new series of AST (the New Portfolio), and whereby the New Portfolio compensates the Manager for the services provided by the Manager to the New Portfolio under the Management Agreement; and  

NOW THEREFORE, the parties mutually agree as follows: 

1.  The management fee rate schedule for the Portfolios appearing in Schedule A of the Management Agreement is hereby deleted in its entirety and is replaced with the attached Schedule A. 

IN WITNESS WHEREOF, the parties hereto have caused this instrument to be executed by their officers designated below as of the day and year first above written.  

ADVANCED SERIES TRUST

By: /s/ Xxxxxxx X. Xxxxxx
Name: Xxxxxxx X. Xxxxxx
Title:   President


PGIM INVESTMENTS LLC

By: /s/ Xxxxxxx X. Xxxxxx
Name: Xxxxxxx X. Xxxxxx 

Title:  Senior Vice President 

ADVANCED SERIES TRUST Schedule “A”
Portfolio	Contractual Fee Rate
AST Prudential Flexible Multi-Strategy Portfolio (effective as of April 27, 2020)	0.7825% of average daily net assets to $300 million; 0.7725% on next $200 million of average daily net assets; 0.7625% on next $250 million of average daily net assets; 0.7525% on next $2.5 billion of average daily net assets; 0.7425% on next $2.75 billion of average daily net assets; 0.7125% on next $4 billion of average daily net assets; 0.6925% over $10 billion of average daily net assets
AST Franklin 85/15 Diversified Allocation Portfolio (formerly, AST Xxxx Xxxxx Diversified Growth Portfolio)	0.7325% of average daily net assets to $300 million; 0.7225% on next $200 million of average daily net assets; 0.7125% on next $250 million of average daily net assets; 0.7025% on next $2.5 billion of average daily net assets; 0.6925% on next $2.75 billion of average daily net assets; 0.6625% on next $4 billion of average daily net assets; 0.6425% over $10 billion of average daily net assets
AST X. Xxxx Price Diversified Real Growth Portfolio	0.7325% of average daily net assets to $300 million; 0.7225% on next $200 million of average daily net assets; 0.7125% on next $250 million of average daily net assets; 0.7025% on next $2.5 billion of average daily net assets; 0.6925% on next $2.75 billion of average daily net assets; 0.6625% on next $4 billion of average daily net assets; 0.6425% over $10 billion of average daily net assets
AST Bond Portfolio 2026*	0.4925% of average daily net assets to $500 million; 0.4725% on next $4.5 billion of average daily net assets; 0.4625% on next $5 billion of average daily net assets; 0.4525% over $10 billion of average daily net assets
AST Bond Portfolio 2027*	0.4925% of average daily net assets to $500 million; 0.4725% on next $4.5 billion of average daily net assets; 0.4625% on next $5 billion of average daily net assets; 0.4525% over $10 billion of average daily net assets
AST Bond Portfolio 2028*	0.4925% of average daily net assets to $500 million; 0.4725% on next $4.5 billion of average daily net assets; 0.4625% on next $5 billion of average daily net assets; 0.4525% over $10 billion of average daily net assets
AST Bond Portfolio 2029*	0.4925% of average daily net assets to $500 million; 0.4725% on next $4.5 billion of average daily net assets; 0.4625% on next $5 billion of average daily net assets; 0.4525% over $10 billion of average daily net assets
AST Bond Portfolio 2030*	0.4925% of average daily net assets to $500 million; 0.4725% on next $4.5 billion of average daily net assets; 0.4625% on next $5 billion of average daily net assets; 0.4525% over $10 billion of average daily net assets
AST Bond Portfolio 2031*	0.4925% of average daily net assets to $500 million; 0.4725% on next $4.5 billion of average daily net assets; 0.4625% on next $5 billion of average daily net assets; 0.4525% over $10 billion of average daily net assets
AST Bond Portfolio 2032*	0.4925% of average daily net assets to $500 million; 0.4725% on next $4.5 billion of average daily net assets; 0.4625% on next $5 billion of average daily net assets; 0.4525% over $10 billion of average daily net assets
AST Bond Portfolio 2033*	0.4925% of average daily net assets to $500 million; 0.4725% on next $4.5 billion of average daily net assets; 0.4625% on next $5 billion of average daily net assets; 0.4525% over $10 billion of average daily net assets
AST Target Maturity Central Portfolio**	0.00% of average daily net assets
AST PGIM Fixed Income Central Portfolio+	0.00% of average daily net assets
AST X. Xxxx Price Fixed Income Central Portfolio++	0.00% of average daily net assets
AST X.X. Xxxxxx Fixed Income Central Portfolio+++	0.00% of average daily net assets
AST QMA International Core Equity Portfolio	0.7325% of average daily net assets to $300 million; 0.7225% on next $200 million of average daily net assets; 0.7125% on next $250 million of average daily net assets; 0.7025% on next $2.5 billion of average daily net assets; 0.6925% on next $2.75 billion of average daily net assets; 0.6625% on next $4 billion of average daily net assets; 0.6425% over $10 billion of average daily net assets
AST Global Bond Portfolio (formerly, AST Wellington Management Global Bond Portfolio)	0.64% of average daily net assets to $300 million; 0.63% on next $200 million of average daily net assets; 0.62% on next $250 million of average daily net assets; 0.61% on next $2.5 billion of average daily net assets; 0.60% on next $2.75 billion of average daily net assets; 0.57% on next $4 billion of average daily net assets; 0.55% over $10 billion of average daily net assets
AST American Funds Growth Allocation Portfolio	0.6825% of average daily net assets to $300 million; 0.6725% on next $200 million of average daily net assets; 0.6625% on next $250 million of average daily net assets; 0.6525% on next $2.5 billion of average daily net assets; 0.6425% on next $2.75 billion of average daily net assets; 0.6125% on next $4 billion of average daily net assets; 0.5925% over $10 billion of average daily net assets
AST BlackRock 60/40 Target Allocation ETF Portfolio	0.525% of average daily net assets to $300 million; 0.515% on next $200 million of average daily net assets; 0.505% on next $250 million of average daily net assets; 0.495% on next $2.5 billion of average daily net assets; 0.485% on next $2.75 billion of average daily net assets; 0.455% on next $4 billion of average daily net assets; 0.435% over $10 billion of average daily net assets
AST BlackRock 80/20 Target Allocation ETF Portfolio	0.525% of average daily net assets to $300 million; 0.515% on next $200 million of average daily net assets; 0.505% on next $250 million of average daily net assets; 0.495% on next $2.5 billion of average daily net assets; 0.485% on next $2.75 billion of average daily net assets; 0.455% on next $4 billion of average daily net assets; 0.435% over $10 billion of average daily net assets

*The assets for each of AST Bond Portfolio 2022, AST Bond Portfolio 2023, AST Bond Portfolio 2024, AST Bond Portfolio 2025, AST Bond Portfolio 2026, AST Bond Portfolio 2027, AST Bond Portfolio 2028, AST Bond Portfolio 2029, AST Bond Portfolio 2030, AST Bond Portfolio 2031, AST Bond Portfolio 2032, AST Bond Portfolio 2033 (collectively, the AST Target Maturity Bond Portfolios) and AST Investment Grade Bond Portfolio are aggregated for purposes of determining the fee rate applicable to each Portfolio. 

** Each of the Target Maturity Bond Portfolios invests in the AST Target Maturity Central Portfolio. PGIM Investments LLC will be compensated for services provided to the AST Target Maturity Central Portfolio pursuant to Investment Management fee for each of the AST Target Maturity Bond Portfolios that invest in the AST Target Maturity Central Portfolio. 

⁺ Certain Asset Allocation Portfolios (the Investing Portfolios) invest in the AST PGIM Fixed Income Central Portfolio. PGIM Investments LLC will be compensated for services provided to the AST PGIM Fixed Income Central Portfolio pursuant to Investment Management fee for each of the applicable Investing Portfolios that invest in the AST PGIM Fixed Income Central Portfolio. 

⁺⁺ Certain Asset Allocation Portfolios (the Investing Portfolios) invest in the AST X. Xxxx Price Fixed Income Central Portfolio. PGIM Investments LLC will be compensated for services provided to the AST X. Xxxx Price Fixed Income Central Portfolio pursuant to Investment Management fee for each of the applicable Investing Portfolios that invest in the AST X. Xxxx Price Fixed Income Central Portfolio. 

⁺⁺⁺ Certain Asset Allocation Portfolios (the Investing Portfolios) invest in the AST X.X. Xxxxxx Fixed Income Central Portfolio. PGIM Investments LLC will be compensated for services provided to the AST X.X. Xxxxxx Fixed Income Central Portfolio pursuant to Investment Management fee for each of the applicable Investing Portfolios that invest in the AST X.X. Xxxxxx Fixed Income Central Portfolio. 

As of November 22, 2022