0000928816-17-001953 Sample Contracts

PUTNAM INVESTMENT FUNDS MANAGEMENT CONTRACT
Management Contract • August 16th, 2017 • Putnam Investment Funds

This Management Contract is dated as of July 26, 2017 and amended and, between PUTNAM INVESTMENT FUNDS, a Massachusetts business trust (the “Fund”), and PUTNAM INVESTMENT MANAGEMENT, LLC, a Delaware limited liability company (the “Manager”).

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MASTER INTERFUND LENDING AGREEMENT
Master Interfund Lending Agreement • August 16th, 2017 • Putnam Investment Funds • 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”).

AMENDED & RESTATED INVESTOR SERVICING AGREEMENT — OPEN-END FUNDS
Investor Servicing Agreement • August 16th, 2017 • Putnam Investment Funds • Massachusetts

This AGREEMENT is made as of the 1st day of July, 2013, between each of the Putnam Funds listed in Appendix A hereto (as the same may from time to time be amended to add one or more additional Putnam Funds or to delete one or more of such Funds), each of such Funds acting severally on its own behalf and not jointly with any of such other Funds (each of such Funds being hereinafter referred to as the “Fund”), and Putnam Investment Management, LLC (the “Manager”), a Delaware limited liability company, and Putnam Investor Services, Inc. (the “Agent”), a Massachusetts corporation, and amends and restates the Amended and Restated Investor Servicing Agreement dated as of January 1, 2009 between each of the Funds, the Manager, and the Agent.

PUTNAM FUNDS SUBADVISORY Agreement
Subadvisory Agreement • August 16th, 2017 • Putnam Investment Funds • Massachusetts

This Subadvisory Agreement is dated as of July 26, 2017 between PUTNAM INVESTMENT MANAGEMENT, LLC, a Delaware limited liability company (the “Adviser”) and PANAGORA ASSET MANAGEMENT, INC., a Delaware corporation (the “Subadviser”).

MANAGEMENT CONTRACT
Management Contract • August 16th, 2017 • Putnam Investment Funds

This Management Contract is dated as of July 26, 2017 between PUTNAM PANAGORA RISK PARITY LTD., a Cayman Islands exempted company (the “Company”) and wholly owned subsidiary of PUTNAM PANAGORA RISK PARITY FUND, a series of PUTNAM INVESTMENT FUNDS, a Massachusetts business trust (the “Fund”), and PUTNAM INVESTMENT MANAGEMENT, LLC, a Delaware limited liability company (the “Manager”).

Putnam Funds One Post Office Square Boston, Massachusetts 02109 Ladies and Gentlemen: Putnam Investment Management, LLC (the “Manager”) agrees to waive its fees under the Management Contract with Putnam Investment Funds (the “Fund”), dated as of July...
Fee Waiver Agreement • August 16th, 2017 • Putnam Investment Funds

This agreement can only be terminated or amended upon the approval of the Fund’s Board of Trustees and is automatically terminated if the Manager resigns as the Fund’s or a Subsidiary’s investment manager or is otherwise no longer a service provider to the Fund or its applicable Subsidiary, or if the Fund or a Subsidiary is liquidated and dissolved.

SUBADVISORY AGREEMENT
Subadvisory Agreement • August 16th, 2017 • Putnam Investment Funds • Massachusetts

This Subadvisory Agreement is dated as of July 26, 2017 between PUTNAM INVESTMENT MANAGEMENT, LLC, a Delaware limited liability company (the “Adviser”) and PANAGORA ASSET MANAGEMENT, INC., a Delaware corporation (the “Subadviser”).

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