AMERICAN BEACON FUNDS AMERICAN BEACON MILEAGE FUNDS AMERICAN BEACON SELECT FUNDS AMERICAN BEACON MASTER TRUST AMENDMENT TO ADMINISTRATION AGREEMENT

AMERICAN BEACON FUNDS

AMERICAN BEACON MILEAGE FUNDS

AMERICAN BEACON SELECT FUNDS

AMERICAN BEACON MASTER TRUST

AMENDMENT TO

ADMINISTRATION AGREEMENT

The attached amended Schedule A is hereby incorporated into the Administration Agreement (“Agreement”) dated September 12, 2008, as amended on April 30, 2009 and July 24, 2009, by and among 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”), and American Beacon Advisors, Inc., a Delaware corporation (“ABA”).

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be signed by their respective officers thereunto duly authorized and their respective seals to be hereunto affixed, as of the day and year first above written.

Dated: March __, 2010

AMERICAN BEACON FUNDS

AMERICAN BEACON MILEAGE FUNDS

AMERICAN BEACON SELECT FUNDS

AMERICAN BEACON MASTER TRUST

Name:

Title:

AMERICAN BEACON ADVISORS, INC.

Name:

Title:

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AMENDED

SCHEDULE A

Administrative Services Fees

A.           American Beacon Funds

As compensation pursuant to Paragraph 9 of the Administration Agreement for services rendered pursuant to such Agreement, the American Beacon Funds shall pay to the ABA a fee, computed daily and paid monthly, at the following annual rates as a percentage of each Fund’s average daily net assets:

1.	Balanced Fund
		Institutional Class Shares		0.30%
		Investor Class Shares		0.30%
		Advisor Class Shares		0.30%
		Y Class		0.30%
		AMR Class Shares		0.05%
2.	Emerging Markets Fund
		Institutional Class Shares		0.30%
		Investor Class Shares		0.30%
		Y Class		0.30%
		AMR Class Shares		0.05%
3.	Enhanced Income Fund
		Investor Class Shares		0.30%
		Y Class		0.30%
4.	Global Real Estate Fund
		Y Class		0.30%
		Investor Class		0.30%
5.	High Yield Bond Fund
		Institutional Class Shares		0.30%
		Investor Class Shares		0.30%
		Y Class		0.30%
		AMR Class Shares		0.05%
6.	Intermediate Bond Fund
		Institutional Class Shares		0.05%
		Investor Class Shares		0.30%
		Y Class		0.30%

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7.	International Equity Fund
		Institutional Class Shares		0.30%
		Investor Class Shares		0.30%
		Advisor Class Shares		0.30%
		Retirement Class Shares		0.30%
		Y Class Shares		0.30%
		AMR Class Shares		0.05%
8.	International Equity Index Fund
		Institutional Class Shares		0.10%
9.	Large Cap Growth Fund
		Institutional Class Shares		0.30%
		Y Class		0.30%
		AMR Class Shares		0.05%
10.	Large Cap Value Fund
		Institutional Class Shares		0.30%
		Investor Class Shares		0.30%
		Advisor Class Shares		0.30%
		Retirement Class Shares		0.30%
		Y Class Shares		0.30%
		AMR Class Shares		0.05%
11.	Mid-Cap Value Fund
		Institutional Class Shares		0.30%
		Investor Class Shares		0.30%
		Advisor Class Shares		0.30%
		Y Class		0.30%
		AMR Class Shares		0.05%
12.	S&P 500 Index Fund
		Institutional Class Shares		0.10%
		Investor Class Shares		0.30%
13.	Short-Term Bond Fund
		Institutional Class Shares		0.05%
		Investor Class Shares		0.30%
		Y Class		0.30%
14.	Small Cap Index Fund
		Institutional Class Shares		0.10%
15.	Small Cap Value Fund
		Institutional Class Shares		0.30%
		Investor Class Shares		0.30%

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		Advisor Class Shares		0.30%
		Retirement Class Shares		0.30%
		Y Class Shares		0.30%
		AMR Class Shares		0.05%
16.	Treasury Inflation Protected Securities Fund
		Institutional Class Shares		0.15%
		Investor Class Shares		0.15%
		Y Class		0.15%

To the extent and for such periods of time that any of the American Beacon Fund invests all of its investable assets (i.e., securities and cash) in another registered investment company pursuant to a master-feeder arrangement, then the fee payable by such Fund pursuant to the foregoing fee schedule shall be reduced by 0.05% with respect to the International Equity Index Fund, the S&P 500 Index Fund and the Small Cap Index Fund.

B.           American Beacon Mileage Funds

As compensation pursuant to Paragraph 9 of the Administration Agreement for services rendered pursuant to such Agreement, the American Mileage Funds shall pay to the ABA a fee, computed daily and paid monthly, at the following annual rates as a percentage of each Fund’s average daily net assets:

1.	Money Market Fund
		Mileage Class Shares	0.11%

To the extent and for such periods of time that any of the American Beacon Mileage Funds invests all of its investable assets (i.e., securities and cash) in another registered investment company pursuant to a master-feeder arrangement, then the fee payable by such Fund pursuant to the foregoing fee schedule shall be reduced by 0.01%.

C.           American Beacon Select Funds

As compensation pursuant to Paragraph 9 of the Administration Agreement for services rendered pursuant to such Agreement, the American Beacon Select Funds shall pay to the ABA a fee, computed daily and paid monthly, at the following annual rates as a percentage of each Fund’s average daily net assets:

1.	Money Market Select Fund
		Select Class Shares		0.01%
2.	U.S. Government Money Market Select Fund
		Select Class Shares		0.01%

To the extent and for such periods of time that any of the American Beacon Select Funds invests all of its investable assets (i.e., securities and cash) in another registered investment

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company pursuant to a master-feeder arrangement, then the fee payable by such Fund pursuant to the foregoing schedule shall be reduced by 0.01%.

D.           American Beacon Master Trust

As compensation pursuant to Paragraph 9 of the Administration Agreement for services rendered pursuant to such Agreement, the American Beacon Master Trust shall pay to the ABA a fee, computed daily and paid monthly, at the following annual rates as a percentage of each Portfolio’s average daily net assets:

1. Money Market Portfolio 0.01%

Dated:  March ___, 2010

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