ADDENDUM TO INVESTMENT ADVISORY AGREEMENT FISCAL YEAR-END 09/30/2017 Calvert Impact Fund, Inc.

ADDENDUM TO INVESTMENT ADVISORY AGREEMENT

FISCAL YEAR-END 09/30/2017

Xxxxxxx Impact Fund, Inc.

Xxxxxxx Investment Management, Inc. ("Xxxxxxx" or the "Advisor") is the investment advisor to the above­ referenced registered investment company ("Fund"). Xxxxxxx has agreed, with the Fund, to contractually limit (direct/ or direct ordinary) net annual fund operating expenses of the Fund through January 31, 2018, as follows. This expense limitation does not limit the acquired fund fees and expenses incurred by a shareholder. Under the terms of the contractual expense limitation, operating expenses do not include interest expense, brokerage commissions, extraordinary expenses, and taxes. To the extent any expense offset arrangement reduces Fund expenses, Xxxxxxx'x obligation under this agreement is reduced and Xxxxxxx shall also benefit from the expense offset arrangement. The below figures are expressed as a percentage of average net assets.

	Class A		Class C		Class I		Class Y
Xxxxxxx Impact Fund, Inc.
Xxxxxxx Global Water Fund	1.28	%	2.03	%	1.03	%	0.93	%

For Funds:	/s/ Xxxxxx X. Xxxxxxx	For Xxxxxxx:	/s/ Xxxxx X. Xxxxxxxx
	Xxxxxx X. Xxxxxxx, Assistant Vice		Xxxxx X. Xxxxxxxx, Executive Vice President,
	President and Assistant Secretary		Chief Financial Officer, Chief Administrative Officer
			And Treasurer
	Date: April 11, 2016		Date: April 11, 2016