PUTNAM FUNDS TRUST AMENDED AND RESTATED MANAGEMENT CONTRACTManagement Contract • March 30th, 2020 • Putnam Funds Trust
Emerging Markets Equity Fund’s Base Fee computed in accordance with Schedule B will be adjusted, on a monthly basis, upward or downward, as the case may be, by an amount computed by applying the Performance Adjustment Rate to the Combined Average Net Assets of the Fund for the Performance Period and dividing the result by twelve (such adjusted fee, the “Current Management Fee”); provided, however, that if the use of the Combined Average Net Assets in calculating the Current Management Fee results in the Fund paying a higher management fee than would have been paid using the Average Net Assets of the Fund for periods prior to the Effective Date, Average Net Assets shall be used for purposes of this calculation. Combined Average Net Assets means the average of all of the determinations of (i) the sum of the net asset value of International Growth Fund and Putnam Emerging Markets Equity Fund at the close of business on each business day during any portion of a Performance Period prior to
March 20, 2020 The Putnam Funds 100 Federal Street Boston, Massachusetts 02110 Ladies and Gentlemen:Fee Waiver Agreement • March 30th, 2020 • Putnam Funds Trust
Putnam Investment Management, LLC (“PIM”) hereby contractually agrees, as of the date hereof, with respect to the funds specified below or in Schedule A, Schedule B, or Schedule C, to waive fees and reimburse certain expenses in the manner provided below:
