0000928816-20-000088 Sample Contracts

PUTNAM FUNDS SUB-MANAGEMENT CONTRACT
Sub-Management Contract • January 27th, 2020 • Putnam Asset Allocation Funds

This Sub-Management Contract is dated as of February 27, 2014 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 ASSET ALLOCATION FUNDS MANAGEMENT CONTRACT
Management Contract • January 27th, 2020 • Putnam Asset Allocation Funds

This Management Contract is dated as of February 27, 2014 between PUTNAM ASSET ALLOCATION FUNDS, a Massachusetts business trust (the “Fund”), and PUTNAM INVESTMENT MANAGEMENT, LLC, a Delaware limited liability company (the “Manager”).

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PUTNAM FUNDS SUB-ADVISORY CONTRACT
Sub-Advisory Contract • January 27th, 2020 • Putnam Asset Allocation Funds

This Sub-Advisory Contract is dated as of February 27, 2014 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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