John Hancock BOND Trust on behalf of John Hancock Government Income Fund; John Hancock High Yield Fund; and John Hancock Investment Grade Bond Fund John Hancock Investment Trust on behalf of John Hancock Balanced Fund; and John Hancock Fundamental...
Exhibit 99.(d).2
Xxxx Xxxxxxx XXXX Trust
on behalf of Xxxx Xxxxxxx Government Income Fund;
Xxxx Xxxxxxx High Yield Fund; and
Xxxx Xxxxxxx Investment Grade Bond Fund
Xxxx Xxxxxxx Investment Trust
on behalf of Xxxx Xxxxxxx Balanced Fund; and
Xxxx Xxxxxxx Fundamental Large Cap Core Fund
Xxxx Xxxxxxx Sovereign Bond fund
on behalf of Xxxx Xxxxxxx Xxxx Fund
Xxxx Xxxxxxx Strategic series
on behalf of Xxxx Xxxxxxx Income Fund
AMENDMENT TO SUB-ADVISORY AGREEMENT
AMENDMENT made as of the 23rd day of March, 2017 to the Sub-Advisory Agreement dated December 31, 2005, as amended (the “Agreement”), among Xxxx Xxxxxxx Advisers, LLC, a Delaware limited liability company, Xxxx Xxxxxxx Asset Management a division of Manulife Asset Management (US) LLC (formerly, Sovereign Asset Management, LLC), a Delaware limited liability company, and each of the investment companies that is a signatory to the Agreement, including (i.) Xxxx Xxxxxxx Xxxx Trust; (ii.) Xxxx Xxxxxxx Investment Trust; (iii.) Xxxx Xxxxxxx Sovereign Bond Fund; and (iv.) Xxxx Xxxxxxx Strategic Series. In consideration of the mutual covenants contained herein, the parties agree as follows:
1. SECTION 3 - COMPENSATION OF SUB-ADVISER AND APPENDIX A
Appendix A of the Agreement, which relates to Section 3 of the Agreement, “COMPENSATION OF SUB-ADVISER,” is hereby amended to reflect the following fee schedules for (i.) Xxxx Xxxxxxx Government Income Fund; (ii.) Xxxx Xxxxxxx High Yield Fund, (iii.) Xxxx Xxxxxxx Investment Grade Bond Fund; (iv.) Xxxx Xxxxxxx Balanced Fund; (v.) Xxxx Xxxxxxx Fundamental Large Cap Core Fund (formerly known as Xxxx Xxxxxxx Large Cap Equity Fund); (vi.) Xxxx Xxxxxxx Xxxx Fund (formerly known as Xxxx Xxxxxxx Strategic Income Fund); and (vii.) Xxxx Xxxxxxx Income Fund and any contrary fee schedule information is hereby superseded:
SUBADVISORY FEE SCHEDULES
The Subadviser shall serve as an investment subadviser for each Fund of the Trust listed below. The Adviser will pay the Subadviser, 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 set forth in the chart below (the “Subadviser 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 Subadviser 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.
A Subadviser Fee based on Aggregate Net Assets 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 Subadviser Fee for each Fund shall be accrued and paid daily to the Subadviser for each calendar day. The daily fee accruals for Subadviser Fees based on Aggregate Net Assets 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 Subadviser.
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.
XXXX XXXXXXX XXXX TRUST
|
Fund |
First $300 Million of Average Daily Net Assets |
Next $700 Million of Average Daily Net Assets |
Excess Over $1 Billion of Average Daily Net Assets |
|
| Xxxx Xxxxxxx Government Income Fund | [ ]% | [ ]% | [ ]% | |
|
Fund |
First $150 Million of Average Daily Net Assets |
Next $350 Million of Average Daily Net Assets |
Next $2 Billion of Average Daily Net Assets |
Excess Over $2.5 Billion of Average Daily Net Assets |
| Xxxx Xxxxxxx High Yield Fund | [ ]% | [ ]% | [ ]% | [ ]% |
| Fund |
First $500 Million of Average Daily Net Assets |
Next $500 Million of Average Daily Net Assets |
Next $500 Million of Average Daily Net Assets |
Excess Over $1.5 Billion of Average Daily Net Assets |
| Xxxx Xxxxxxx Investment Grade Bond Fund | [ ]% | [ ]% | [ ]% | [ ]% |
XXXX XXXXXXX Investment TRUST
|
Fund |
First $2 Billion of Average Daily Net Assets |
Excess Over $2 Billion of Average Daily Net Assets |
||
| Xxxx Xxxxxxx Balanced Fund | [ ]% | [ ]% |
| Trust Portfolio | Aggregate Net Assets Include the Net Assets of the following Fund(s) in addition to the Trust Portfolio |
Subadvisory Fee of the Trust Portfolio |
| Xxxx Xxxxxxx Fundamental Large Cap Core Fund | Large Cap Equity Fund, a sub-fund of Xxxx Xxxxxxx Worldwide Investors, PLC. |
[ ]%- First $3.0 billion of Aggregate Net Assets [ ]%- Excess over $3.0 billion of Aggregate Net Assets |
XXXX XXXXXXX Sovereign Bond Fund
| Trust Portfolio | Aggregate Net Assets Include the Net Assets of the following Funds in addition to the Trust Portfolio |
Sub-advisory Fee of the Trust Portfolio |
| Xxxx Xxxxxxx Xxxx Fund |
Income Allocation Fund, a portfolio series of Xxxx Xxxxxxx Funds II (only with respect to the assets of Income Allocation Fund managed according to the subadviser’s bond strategy for Xxxx Xxxxxxx Xxxx Fund)
|
[ ]%- First $500 million of Aggregate Net Assets [ ]%- Next $500 million of Aggregate Net Assets [ ]%- Next $500 million of Aggregate Net Assets [ ]%- Next $500 million of Aggregate Net Assets [ ]%- Excess over $2 billion of Aggregate Net Assets |
XXXX XXXXXXX Strategic series
|
Fund |
First $500 Million of Average Daily Net Assets |
Next $500 Million of Average Daily Net Assets |
Excess Over $1 Billion of Average Daily Net Assets |
| Xxxx Xxxxxxx Income Fund | [ ]% | [ ]% | [ ]% |
2. EFFECTIVE DATE
This Amendment shall become effective as of January 1, 2017.
| 3. | DEFINED TERMS |
Unless otherwise defined herein, capitalized terms used herein have the meanings specified in or pursuant to the Agreement.
4. OTHER TERMS OF THE AGREEMENT
Except as specifically amended hereby, all of the terms and conditions of the Agreement shall continue to be in full force and effect and shall be binding upon the parties in accordance with their respective terms.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed under seal by their duly authorized officers as of the date first mentioned above.
| XXXX XXXXXXX ADVISERS, LLC | ||||
| By: | /s/ Xxx Xxxxxxx | |||
| Xxx Xxxxxxx | ||||
| Senior Vice President and Chief Investment Officer | ||||
| XXXX XXXXXXX ASSET MANAGEMENT A DIVISION OF MANULIFE ASSET MANAGEMENT (US) LLC | ||||
| By: | /s/ Xxxxx X. Xxxxxxx | |||
| Name: | Xxxxx X. Xxxxxxx | |||
| Title: | President | |||
|
XXXX XXXXXXX XXXX TRUST
XXXX XXXXXXX INVESTMENT TRUST
XXXX XXXXXXX SOVEREIGN BOND FUND
XXXX XXXXXXX STRATEGIC SERIES | ||||
| By: | /s/ Xxxxxx X. Xxxxxx | |||
| Xxxxxx X. Xxxxxx | ||||
| President | ||||
