JOHN HANCOCK FUNDS II AMENDMENT TO ADVISORY AGREEMENT
XXXX XXXXXXX FUNDS II
AMENDMENT TO ADVISORY AGREEMENT
AMENDMENT made this 26th day of December, 2007, to the Advisory Agreement dated
October 17, 2005, as amended, between Xxxx Xxxxxxx Funds II, a Massachusetts business trust (the
“Trust”) and Xxxx Xxxxxxx Investment Management Services, LLC, a Delaware limited liability company
(“JHIMS” or the “Adviser”). In consideration of the mutual covenants contained herein, the parties
agree as follows:
1. | CHANGE IN APPENDIX A |
Appendix A is revised to
(a) change the advisory fees for the following funds:
Lifecycle 2010 Portfolio
Lifecycle 2015 Portfolio
Lifecycle 2020 Portfolio
Lifecycle 2025 Portfolio
Lifecycle 2030 Portfolio
Lifecycle 2035 Portfolio
Lifecycle 2040 Portfolio
Lifecycle 2045 Portfolio
Lifecycle 2050 Portfolio
Lifecycle Retirement Portfolio
Lifecycle 2015 Portfolio
Lifecycle 2020 Portfolio
Lifecycle 2025 Portfolio
Lifecycle 2030 Portfolio
Lifecycle 2035 Portfolio
Lifecycle 2040 Portfolio
Lifecycle 2045 Portfolio
Lifecycle 2050 Portfolio
Lifecycle Retirement Portfolio
(b) add the advisory fees for the following funds:
1. | Retirement Income Portfolio | ||
2. | Retirement Rising Income Portfolio | ||
3. | Floating Rate Income Fund | ||
4. | Global Asset Allocation Fund |
Collectively, the fund list above are referred to as the “Funds.”
2. | EFFECTIVE DATE |
This Amendment shall become effective with respect to the Fund on the later of:
(i) the date of its execution and (ii) approval by the Board of Trustees of the Trust of
this Amendment.
XXXX XXXXXXX FUNDS II
By:
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/s/ Xxxxx X. Xxxxxxxxx
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Title: President |
XXXX XXXXXXX INVESTMENT MANAGEMENT SERVICES, LLC
By:
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/s/ Xxxxx X. Xxxxx
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Title: Executive Vice President |
APPENDIX A
Floating Rate Income Fund
Global Asset Allocation Fund
Global Asset Allocation Fund
The Adviser shall serve as investment adviser for each Fund of the Trust listed below. The
Trust will pay the Adviser, as full compensation for all services provided under this Agreement
with respect to each Fund, the fee computed separately for such Fund at an annual rate as follows
(the “Adviser Fee”).
The term Aggregate Net Assets in the chart below includes the net assets of a Fund of the
Trust. It also includes with respect to certain Funds as indicated in the chart the net assets of
one or more other portfolios, but in each case only for the period during which the subadviser for
the Fund also serves as the subadviser for the other portfolio(s) and only with respect to the net
assets of such other portfolio(s) that are managed by the subadviser.
For purposes of determining Aggregate Net Assets and calculating the Adviser Fee, the net
assets of the Fund and each other fund of the Trust are determined as of the close of business on
the previous business day of the Trust, and the net assets of each portfolio of each other fund are
determined as of the close of business on the previous business day of that fund.
The Adviser Fee for a Fund shall be based on the applicable annual fee rate for the Fund which
for each day shall be equal to (i) the sum of the amounts determined by applying the annual
percentage rates in the table to the applicable portions of Aggregate Net Assets divided by (ii)
Aggregate Net Assets (the “Applicable Annual Fee Rate”). The Adviser Fee for each Fund shall be
accrued and paid daily to the Adviser for each calendar day. The daily fee accruals will be
computed by multiplying the fraction of one over the number of calendar days in the year by the
Applicable Annual Fee Rate, and multiplying this product by the net assets of the Fund. Fees shall
be paid either by wire transfer or check, as directed by the Adviser.
If, with respect to any Fund, this Agreement becomes effective or terminates, or if the manner
of determining the Applicable Annual Fee Rate changes, before the end of any month, the fee (if
any) for the period from the effective date to the end of such month or from the beginning of such
month to the date of termination or from the beginning of such month to the date of such change, as
the case may be, shall be prorated according to the proportion which such period bears to the full
month in which such effectiveness or termination or change occurs.
All | ||||
Aggregate Net | ||||
Fund | Assets* | |||
Floating
Rate Income Fund |
.700 | % |
* | Aggregate Net Assets include the net assets of the Floating Rate Bond Trust, a series of Xxxx Xxxxxxx Trust, and the Floating Rate Bond Fund, a series of Xxxx Xxxxxxx Funds II. |
First | Excess Over | |||||||
$500 Million | $500 Million | |||||||
of Aggregate | of Aggregate | |||||||
Trust | Net Assets* | Net Assets* | ||||||
Global Asset Allocation Fund |
.915 | % | .865 | % |
* | Aggregate Net Assets include the net assets of the Global Asset Allocation Trust, a series of Xxxx Xxxxxxx Trust, and the Global Asset Allocation Fund, a series of Xxxx Xxxxxxx Funds II. |
A-1
Retirement Distribution Portfolio
Retirement Rising Distribution Portfolio
Retirement Rising Distribution Portfolio
The Adviser shall serve as investment adviser for each Portfolio listed below.
Retirement Distribution Portfolio
Retirement Rising Distribution Portfolio
(collectively, the “Retirement Portfolios”)
Retirement Rising Distribution Portfolio
(collectively, the “Retirement Portfolios”)
The Trust will pay the Adviser, as full compensation for all services provided under this
Agreement with respect to each Retirement Portfolio, a fee computed separately for each Retirement
Portfolio as follows (the “Adviser Fee”).
The Adviser Fee has two components: (a) a fee on net assets invested in Affiliated Funds
(“Affiliated Fund Assets”) and (b) a fee on net assets not invested in Affiliated Funds (“Other
Assets”). Affiliated Funds are any fund of Xxxx Xxxxxxx Funds II and Xxxx Xxxxxxx Funds III.
(a) The fee on Affiliated Fund Assets is stated as an annual percentage of the current value
of the aggregate net assets of all the Retirement Portfolios determined in accordance with the
following schedule and that rate is applied to the Affiliated Fund Assets of each Retirement
Portfolio.
Advisory Fee on Affiliated Fund Assets
Aggregate Net Assets of Retirement Portfolios
First | Excess over | |||
$500 million | $500 million | |||
0.060% |
0.050 | % |
(b) The fee on Other Assets is stated as an annual percentage of the current value of the
aggregate net assets of all the Retirement Portfolios determined in accordance with the following
schedule, and that rate is applied to the Other Assets of each Retirement Portfolio.
Advisory Fee on Other Assets
Aggregate Net Assets of Retirement Portfolios
First | Excess over | |||
$500 million | $500 million | |||
0.510% |
0.500 | % |
With respect to each Retirement Portfolio, the term “Aggregate Net Assets of Retirement
Portfolios” in the schedules above include the net assets of the particular Retirement Portfolio.
These terms also includes the net assets of each of the other Retirement Portfolios, but in each
case only for the period during which the subadviser for the particular Retirement Portfolio also
serves as the subadviser for the other Retirement Portfolios and only with respect to the net
assets of such other Retirement Portfolios that are managed by the subadviser.
For purposes of determining Aggregate Net Assets of Retirement Portfolios and calculating the
fee on Affiliated Fund Assets and the fee on Other Assets, the net assets of each Retirement
Portfolio, the net assets of each Retirement Portfolio invested in Affiliated Funds and the net
assets of each Retirement Portfolio invested in Other Assets are determined as of the close of
business on the previous business day of the Trust.
A-2
The fee on Affiliated Fund Assets for each Retirement Portfolio shall be based on the
applicable annual Affiliated Funds fee rate for the Retirement Portfolios which for each day shall
be equal to (i) the sum of the amounts determined by applying the annual percentage rates in the
Fee Table for Affiliated Funds to the applicable portions of Aggregate Net Assets of Retirement
Portfolios divided by (ii) Aggregate Net Assets of Retirement Portfolios (the “Applicable Annual
Affiliated Funds Fee Rate”).
The fee on Other Assets for each Retirement Portfolio shall be based on the applicable annual
Other Assets fee rate for the Retirement Portfolios which for each day shall be equal to (i) the
sum of the amounts determined by applying the annual percentage rates in the Fee Table for Other
Assets to the applicable portions of Aggregate Net Assets of Retirement Portfolios divided by (ii)
Aggregate Net Assets of Retirement Portfolios (the “Applicable Annual Other Assets Fee Rate”).
The fee on Affiliated Fund Assets for each Retirement Portfolio shall be accrued and paid
daily to the Adviser for each calendar day. The daily fee accruals will be computed by multiplying
the fraction of one over the number of calendar days in the year by the Applicable Annual
Affiliated Funds Fee Rate, and multiplying this product by the Affiliated Fund Assets of the
Retirement Portfolio. Fees shall be paid either by wire transfer or check, as directed by the
Adviser.
The fee on Other Assets for each Retirement Portfolio shall be accrued and paid daily to the
Adviser for each calendar day. The daily fee accruals will be computed by multiplying the fraction
of one over the number of calendar days in the year by the Applicable Annual Other Assets Fee Rate,
and multiplying this product by the Other Assets of the Retirement Portfolio. Fees shall be paid
either by wire transfer or check, as directed by the Adviser.
The daily Adviser Fee for each Retirement Portfolio shall be the sum of the daily fee on
Affiliated Fund Assets and the daily fee on Other Assets.
If, with respect to any Retirement Portfolio, this Agreement becomes effective or terminates,
or if the manner of determining the Applicable Annual Affiliated Funds Fee Rate or the Applicable
Annual Other Assets Fee Rate changes, before the end of any month, the fee (if any) for the period
from the effective date to the end of such month or from the beginning of such month to the date of
termination or from the beginning of such month to the date such change, as the case may be, shall
be prorated according to the proportion which such period bears to the full month in which such
effectiveness or termination or change occurs.
A-3
Lifecycle Portfolios
The Adviser shall serve as investment adviser for each Portfolio listed below.
Lifecycle 2010 Portfolio
Lifecycle 2015 Portfolio
Lifecycle 2020 Portfolio
Lifecycle 2025 Portfolio
Lifecycle 2030 Portfolio
Lifecycle 2035 Portfolio
Lifecycle 2040 Portfolio
Lifecycle 2045 Portfolio
Lifecycle 2050 Portfolio
Lifecycle Retirement Portfolio
(collectively, the “Lifecycle Portfolio”)
Lifecycle 2015 Portfolio
Lifecycle 2020 Portfolio
Lifecycle 2025 Portfolio
Lifecycle 2030 Portfolio
Lifecycle 2035 Portfolio
Lifecycle 2040 Portfolio
Lifecycle 2045 Portfolio
Lifecycle 2050 Portfolio
Lifecycle Retirement Portfolio
(collectively, the “Lifecycle Portfolio”)
The Trust will pay the Adviser, as full compensation for all services provided under this
Agreement with respect to each Lifecycle Portfolio, a fee computed separately for each Lifecycle
Portfolio as follows (the “Adviser Fee”).
The Adviser Fee has two components: (a) a fee on net assets invested in Affiliated Funds
(“Affiliated Fund Assets”) and (b) a fee on net assets not invested in Affiliated Funds (“Other
Assets”). Affiliated Funds are any fund of Xxxx Xxxxxxx Funds II and Xxxx Xxxxxxx Funds III.
(a) The fee on Affiliated Fund Assets is stated as an annual percentage of the current value
of the aggregate net assets of all the Lifecycle Portfolios and all the Lifecycle Funds of Xxxx
Xxxxxxx Trust (as listed below) determined in accordance with the following schedule and that rate
is applied to the Affiliated Fund Assets of each Lifecycle Portfolio.
The Lifecycle Funds of Xxxx Xxxxxxx Trust are as follows: Lifecycle 2010 Portfolio, Lifecycle 2015
Portfolio, Lifecycle 2020 Portfolio, Lifecycle 2025 Portfolio, Lifecycle 2030 Portfolio, Lifecycle
2035 Portfolio, Lifecycle 2040 Portfolio, Lifecycle 2045 Portfolio, Lifecycle 2050 Portfolio,
Lifecycle Retirement Portfolio (the “JHT Lifecycle Funds”).
The Lifecycle Portfolios and JHT Lifecycle Funds are collectively referred to as the “Lifecycle
Trusts.”
Advisory Fee on Affiliated Fund Assets
Aggregate Net Assets of Lifecycle Trusts
First | Excess over | |||
$7.5 billion | $7.5 billion | |||
0.060% |
0.050 | % |
(b) The fee on Other Assets is stated as an annual percentage of the current value of the
aggregate net assets of all the Lifecycle Trusts determined in accordance with the following
schedule, and that rate is applied to the Other Assets of each Lifecycle Portfolio.
A-4
Advisory Fee on Other Assets
Aggregate Net Assets of Lifecycle Trusts
First | Excess over | |||
$7.5 billion | $7.5 billion | |||
0.510% |
0.500 |
With respect to each Lifecycle Portfolio, the term “Aggregate Net Assets of Lifecycle Trusts”
in the schedules above include the net assets of the particular Lifecycle Portfolio. These terms
also includes the net assets of each of the other Lifecycle Trusts, but in each case only for the
period during which the subadviser for the particular Lifecycle Trust also serves as the subadviser
for the other Lifecycle Trusts and only with respect to the net assets of such other Lifecycle
Trusts that are managed by the subadviser.
For purposes of determining Aggregate Net Assets of Lifecycle Trusts and calculating the fee
on Affiliated Fund Assets and the fee on Other Assets, the net assets of each Lifecycle Trust, the
net assets of each Lifecycle Portfolio invested in Affiliated Funds and the net assets of each
Lifecycle Portfolio invested in Other Assets are determined as of the close of business on the
previous business day of the Trust.
The fee on Affiliated Fund Assets for each Lifecycle Portfolio shall be based on the
applicable annual Affiliated Funds fee rate for the Lifecycle Trusts which for each day shall be
equal to (i) the sum of the amounts determined by applying the annual percentage rates in the Fee
Table for Affiliated Funds to the applicable portions of Aggregate Net Assets of Lifecycle Trusts
divided by (ii) Aggregate Net Assets of Lifecycle Trusts (the “Applicable Annual Affiliated Funds
Fee Rate”).
The fee on Other Assets for each Lifecycle Portfolio shall be based on the applicable annual
Other Assets fee rate for the Lifecycle Trusts which for each day shall be equal to (i) the sum of
the amounts determined by applying the annual percentage rates in the Fee Table for Other Assets to
the applicable portions of Aggregate Net Assets of Lifecycle Trusts divided by (ii) Aggregate Net
Assets of Lifecycle Trusts (the “Applicable Annual Other Assets Fee Rate”).
The fee on Affiliated Fund Assets for each Lifecycle Portfolio shall be accrued and paid daily
to the Adviser for each calendar day. The daily fee accruals will be computed by multiplying the
fraction of one over the number of calendar days in the year by the Applicable Annual Affiliated
Funds Fee Rate, and multiplying this product by the Affiliated Fund Assets of the Lifecycle
Portfolio. Fees shall be paid either by wire transfer or check, as directed by the Adviser.
The fee on Other Assets for each Lifecycle Portfolio shall be accrued and paid daily to the
Adviser for each calendar day. The daily fee accruals will be computed by multiplying the fraction
of one over the number of calendar days in the year by the Applicable Annual Other Assets Fee Rate,
and multiplying this product by the Other Assets of the Lifecycle Portfolio. Fees shall be paid
either by wire transfer or check, as directed by the Adviser.
The daily Adviser Fee for each Lifecycle Portfolio shall be the sum of the daily fee on
Affiliated Fund Assets and the daily fee on Other Assets.
If, with respect to any Lifecycle Portfolio, this Agreement becomes effective or terminates,
or if the manner of determining the Applicable Annual Affiliated Funds Fee Rate or the Applicable
Annual Other Assets Fee Rate changes, before the end of any month, the fee (if any) for the period
from the effective date to the end of such month or from the beginning of such month to the date of
termination or from the beginning of such month to the date such change, as the case may be, shall
be prorated according to the proportion which such period bears to the full month in which such
effectiveness or termination or change occurs.
A-5