0000928816-16-002669 Sample Contracts

MASTER INTERFUND LENDING AGREEMENT
Master Interfund Lending Agreement • April 28th, 2016 • Putnam Variable Trust • Massachusetts

This Master Interfund Lending Agreement (as amended, restated, supplemented or otherwise modified from time to time, the “Master Agreement”), dated as of July 16, 2010 (the “Effective Date”), is by and among each investment company listed on Schedule A or Schedule B hereto (collectively, the “Trusts,” and each portfolio series of a Trust (or if the relevant Trust has no portfolio series, then the relevant Trust) shall be referred to herein as a “Fund” and collectively as the “Funds”) and Putnam Investment Management, LLC (the “Adviser”).

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INDEMNIFICATION AGREEMENT
Indemnification Agreement • April 28th, 2016 • Putnam Variable Trust • Massachusetts

This Indemnification Agreement (the “Agreement”) is made as of the date set forth on the signature page by and between the Massachusetts business trusts comprising The Putnam Funds listed on Exhibit A hereto (as the same may from time to time be amended to add one or more additional trusts comprising The Putnam Funds or delete one or more of such trusts) (each, a “Trust”), each of such Trusts acting severally on its own behalf and not jointly with any of such other Trusts, and the Trustee of each Trust whose name is set forth on the signature page (the “Trustee”).

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