0000928816-08-001293 Sample Contracts

PUTNAM FUNDS SUB-MANAGEMENT CONTRACT
Putnam Funds • October 28th, 2008 • Putnam International Equity Fund /Ma/

This Sub-Management Contract is dated as of May 15, 2008 between PUTNAM INVESTMENT MANAGEMENT, LLC, a Delaware limited liability company (the “Manager”) and PUTNAM INVESTMENTS LIMITED, a company organized under the laws of England and Wales (the “Sub-Manager”).

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PUTNAM FUNDS SUB-ADVISORY CONTRACT
Putnam Funds Sub-Advisory Contract • October 28th, 2008 • Putnam International Equity Fund /Ma/

This Sub-Advisory Contract is dated as of May 15, 2008 between and among PUTNAM INVESTMENT MANAGEMENT, LLC, a Delaware limited liability company (the “Manager”), PUTNAM INVESTMENTS LIMITED, a company organized under the laws of England and Wales (“PIL”), and THE PUTNAM ADVISORY COMPANY, LLC, a Delaware limited liability company (the “Sub-Advisor”).

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