AMENDMENT NO. 1 TO INVESTMENT ADVISORY AGREEMENTS
AMENDMENT NO. 1 TO INVESTMENT ADVISORY AGREEMENTS
This AMENDMENT NO. 1, effective as of October 1, 2019, (this "Amendment") to each Investment Advisory Agreement by and between each investment company (each, a "Trust") listed on Schedule A hereto ("Schedule A"), on behalf of its respective series listed on Schedule A (each, a "Fund"), and Wellington Management Company LLP (the "Advisor").
WITNESSETH:
WHEREAS, the parties hereto have entered into each Investment Advisory Agreement listed on Schedule A, dated as of the respective date listed on Schedule A (each, an "Agreement"), pursuant to which the Advisor has agreed to render investment advisory services to the respective Fund; and
WHEREAS, each Agreement may be amended by mutual consent; and
WHEREAS, the parties desire to modify each Agreement's Proxy Policy section listed on Schedule A (each, a "Proxy Policy Section");
NOW, THEREFORE, in consideration of the mutual covenants contained herein, the parties hereto, intending to be legally bound, hereby agree as follows:
1.Defined Terms. Unless otherwise defined herein, capitalized terms in this Amendment shall have the meanings assigned in the respective Agreement.
2.Amendment of Agreement. As of the date of this Amendment, or such later date as may be determined by a Fund, the language following "Proxy Policy." in each Proxy Policy Section of each Agreement is hereby deleted and replaced with the following:
The Advisor shall vote proxies solicited by or with respect to the issuers of securities in which the Wellington Management Portfolio may be invested in accordance with the Advisor's proxy voting policies and procedures in a manner that complies with applicable law and regulations, and any additional operating policies or procedures that the Fund communicates to the Advisor in writing.
3.No Other Modifications. Except as specifically modified hereby, each Agreement remains in full force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed as of the date first set forth herein.
WELLINGTON MANAGEMENT COMPANY LLP
By: ____________________________________
Name:
Title:
VANGUARD EXPLORER FUND
VANGUARD FENWAY FUNDS
VANGUARD FIXED INCOME SECURITIES FUNDS
VANGUARD MALVERN FUNDS
VANGUARD SPECIALIZED FUNDS
VANGUARD TRUSTEES' EQUITY FUND
VANGUARD VARIABLE INSURANCE FUND
VANGUARD WELLESLEY INCOME FUND
VANGUARD WHITEHALL FUNDS
VANGUARD WINDSOR FUNDS
VANGUARD WELLINGTON FUND
EACH ON BEHALF OF ITS SERIES
SET FORTH ON EXHIBIT A ATTACHED HERETO
By: ____________________________________
Name: Xxxxxxxx X. Xxxxxxx
Title: Chairman and Chief Executive Officer
Schedule A-- Investment Advisory Agreements
|
|
|
Proxy Policy |
Dated |
Trust |
Fund |
Section |
2/1/2011 |
Vanguard Explorer Fund |
Vanguard Explorer Fund |
13 |
|
|
|
|
4/1/2015 |
Vanguard Fenway Funds |
Vanguard Equity Income Fund |
13 |
|
|
|
|
5/1/2005 |
Vanguard Fixed Income |
Vanguard GNMA Fund |
12 |
|
Securities Funds |
|
|
5/1/2005 |
Vanguard Fixed Income |
Vanguard Long-Term |
12 |
|
Securities Funds |
Investment-Grade Fund |
|
5/1/2005 |
Vanguard Fixed Income |
Vanguard High-Yield Corporate |
12 |
|
Securities Funds |
Fund |
|
1/1/2013 |
Vanguard Malvern Funds |
Vanguard Capital Value Fund |
13 |
|
|
|
|
7/27/2018 |
Vanguard Specialized |
Vanguard Global Capital Cycles |
13 |
|
Funds |
Fund (f/k/a Vanguard Precious |
|
|
|
Metals and Mining Fund) |
|
8/1/2010 |
Vanguard Specialized |
Vanguard Energy Fund |
13 |
|
Funds |
|
|
5/1/2014 |
Vanguard Specialized |
Vanguard Health Care Fund |
13 |
|
Funds |
|
|
2/1/2016 |
Vanguard Specialized |
Vanguard Dividend Growth |
13 |
|
Funds |
Fund |
|
8/1/2013 |
Vanguard Trustees' |
Vanguard Emerging Markets |
13 |
|
Equity Fund |
Select Stock Fund |
|
4/1/2007 |
Vanguard Variable |
Balanced Portfolio |
13 |
|
Insurance Fund |
|
|
10/7/2010 |
Vanguard Variable |
Growth Portfolio |
13 |
|
Insurance Fund |
|
|
4/1/2008 |
Vanguard Variable |
Equity Income Portfolio |
13 |
|
Insurance Fund |
|
|
4/1/2007 |
Vanguard Variable |
High Yield Bond Portfolio |
13 |
|
Insurance Fund |
|
|
10/1/2014 |
Vanguard Wellesley |
Vanguard Wellesley Income |
13 |
|
Income Fund |
Fund |
|
12/1/2013 |
Vanguard Wellington |
Vanguard Wellington Fund |
13 |
|
Fund |
|
|
6/7/2010 |
Vanguard Whitehall |
Vanguard International Explorer |
13 |
|
Funds |
Fund |
|
12/17/2018 |
Vanguard Whitehall |
Vanguard Mid-Cap Growth |
14 |
|
Funds |
Fund |
|
5/1/2007 |
Vanguard Windsor Funds |
Vanguard Windsor Fund |
13 |
|
|
|
|
10/7/2010 |
Vanguard U.S. Growth Fund |
13 |
11/1/2017 |
Vanguard Global Wellington |
13 | |
|
|
Fund |
|
11/1/2017 |
Vanguard Global Wellesley |
13 | |
|
|
Income Fund |
|
