INVESTMENT MANAGEMENT AGREEMENTInvestment Management Agreement • September 25th, 2008 • Franklin Municipal Securities Trust
This Addendum dated January 1, 2008, is to the Investment Management Agreement made as of February 26, 1992, as amended May 1, 2005 and August 1, 1995, (the “Agreement”) by and between Franklin Municipal Securities Trust, a Delaware statutory trust (the “Trust”), on behalf of Franklin California High Yield Municipal Bond Fund and Franklin Tennessee Municipal Bond Fund (the “Funds”), and Franklin Advisers, Inc., a California corporation, (the “Manager”).
