0000928816-24-001564 Sample Contracts

Contract
Distributor’s Contract • September 26th, 2024 • Putnam Pennsylvania Tax Exempt Income Fund

PUTNAM NEW JERSEY TAX EXEMPT INCOME FUND AMENDED AND RESTATED DISTRIBUTOR’S CONTRACT Amended and Restated Distributor’s Contract dated August 2, 2024, by and between PUTNAM NEW JERSEY TAX EXEMPT INCOME FUND, a Massachusetts business trust (the “Fund”; each reference in this Contract or in the Terms and Conditions defined below to “a Fund” or “the Fund” is also deemed to be a reference to any existing series of the Fund, as appropriate in the particular context), and FRANKLIN DISTRIBUTORS, LLC, a Delaware limited liability company (“Franklin Distributors”). WHEREAS, the Fund and Franklin Distributors are desirous of entering into this agreement to provide for the distribution by Franklin Distributors of shares of the Fund; NOW, THEREFORE, in consideration of the mutual agreements contained in the Terms and Conditions of Amended and Restated Distributor’s Contract attached to and forming a part of this Contract (the “Terms and Conditions”), the Fund hereby appoints Franklin Distributors

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PUTNAM PENNSYLVANIA TAX EXEMPT INCOME FUND MANAGEMENT CONTRACT
Management Contract • September 26th, 2024 • Putnam Pennsylvania Tax Exempt Income Fund

This Management Contract is dated as of January 31, 2024 between PUTNAM PENNSYLVANIA TAX EXEMPT INCOME FUND, a Massachusetts business trust (the “Fund”), and PUTNAM INVESTMENT MANAGEMENT, LLC, a Delaware limited liability company (the “Manager”).

DEALER SERVICE AGREEMENT Between:
Dealer Service Agreement • September 26th, 2024 • Putnam Pennsylvania Tax Exempt Income Fund

We are pleased to inform you that, pursuant to the terms of this Dealer Service Agreement, we are authorized to pay you service fees in connection with the accounts of your customers that hold shares of Putnam Funds that have adopted distribution plans pursuant to Rule 12b-1 (the “12b-1 Funds”). Payment of the service fees is subject to your initial and continuing satisfaction of the following terms and conditions, which may be revised by us from time to time: (see Schedule1)

AMENDMENT NO. 10 TO CREDIT AGREEMENT
Credit Agreement • September 26th, 2024 • Putnam Pennsylvania Tax Exempt Income Fund

CREDIT AGREEMENT, dated as of September 24, 2015, among each trust listed on Schedule 2 hereto, the Banks (as hereinafter defined) party hereto from time to time, and STATE STREET BANK AND TRUST COMPANY, as agent for the Banks (in such capacity, the “Agent”).

AMENDMENT NO. 12 TO CREDIT AGREEMENT
Credit Agreement • September 26th, 2024 • Putnam Pennsylvania Tax Exempt Income Fund

AMENDMENT NO. 12 (this “Amendment”), dated as of April 30, 2024 to the Credit Agreement, dated as of September 24, 2015, among each trust listed on Schedule 2 hereto, the Banks and other lending institutions party thereto (the “Existing Banks”), and State Street Bank and Trust Company, as Agent (in such capacity the “Agent”), as amended, supplemented or otherwise modified by Joinder Agreement No. 1, dated as of August 29, 2016, Letter Agreement, dated as of August 29, 2016, Amendment No. 1 to Credit Agreement, dated as of September 22, 2016, Notice Letter, dated October 5, 2016, Notice Letter, dated February 22, 2017, Notice Letter, dated April 19, 2017, Amendment No. 2 to Credit Agreement, dated as of September 21, 2017, Amendment No. 3 to Credit Agreement, dated as of September 20, 2018, Consent No. 1, dated as of November 30, 2018, Notice Letter, dated May 31, 2019, Consent No. 2, dated as of June 24, 2019, Amendment No. 4 to Credit Agreement, dated as of September 19, 2019, Amendme

FINANCIAL INSTITUTION SALES CONTRACT Between: Distributor: Financial Institution:
Putnam Pennsylvania Tax Exempt Income Fund • September 26th, 2024 • Massachusetts

As general distributor of The Putnam Family of Mutual Funds (the “Funds”), we agree that you will make available to your customers, under an agency relationship with your customers, shares of beneficial interest issued by the Funds (the “Shares”), subject to any limitations imposed by any of the Funds and to confirmation by us in each transaction. By your acceptance hereof, you agree to all of the following terms and conditions:

amendment no. 12 and CONSENT NO. 4 TO CREDIT AGREEMENT
Credit Agreement • September 26th, 2024 • Putnam Pennsylvania Tax Exempt Income Fund

AMENDMENT NO. 12 AND CONSENT NO. 4 (this “Amendment”), dated as of December 7, 2023, to the uncommitted discretionary demand line of credit evidenced by that letter agreement, dated September 24, 2015, among each management investment company listed on Appendix I to the Credit Agreement (the “Borrowers”) and State Street Bank and Trust Company (the “Bank”) (as the same has been or may be further amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”).

PUTNAM FUNDS SUB-MANAGEMENT CONTRACT
Putnam Funds Sub-Management Contract • September 26th, 2024 • Putnam Pennsylvania Tax Exempt Income Fund

This Sub-Management Contract is dated as of January 1, 2024 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”).

July 1, 2024
Putnam Pennsylvania Tax Exempt Income Fund • September 26th, 2024

Putnam Investment Management, LLC (“PIM”) and, upon effectiveness of the new management contracts for the funds listed in Schedule A, Franklin Advisers, Inc. (“FAV”), hereby contractually agree, as of the date hereof, with respect to the funds specified below or in Schedule B, Schedule C, or Schedule D, to waive fees and reimburse certain expenses in the manner provided below:

DEALER SALES CONTRACT
Dealer Sales Contract • September 26th, 2024 • Putnam Pennsylvania Tax Exempt Income Fund • Massachusetts

As general distributor of The Putnam Family of Mutual Funds (the “Funds”), we agree to sell you shares of beneficial interest issued by the Funds (the “Shares”), subject to any limitations imposed by any of the Funds and to confirmation by us in each instance of such sales. By your acceptance hereof, you agree to all of the following terms and conditions:

PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND MANAGEMENT CONTRACT
Income Fund Management Contract • September 26th, 2024 • Putnam Pennsylvania Tax Exempt Income Fund

This Management Contract is dated as of January 31, 2024 between PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND, a Massachusetts business trust (the “Fund”), and PUTNAM INVESTMENT MANAGEMENT, LLC, a Delaware limited liability company (the “Manager”).

SUBCONTRACT FOR FUND ADMINISTRATIVE SERVICES
Subcontract for Fund Administrative Services • September 26th, 2024 • Putnam Pennsylvania Tax Exempt Income Fund • California

This Subcontract, dated as of June 1, 2024, is between Putnam Investment Management, LLC, a Delaware limited liability company (the “Investment Manager”), and Franklin Templeton Services, LLC (the “Administrator”).

ASSIGNMENT AND ASSUMPTION AGREEMENT
Assignment and Assumption Agreement • September 26th, 2024 • Putnam Pennsylvania Tax Exempt Income Fund

This Assignment and Assumption Agreement is made as of July 15, 2024, by and between Franklin Advisers, Inc. (“FAV”), Putnam Investment Management, LLC (“PIM”), Putnam Investments Limited (“PIL”) and The Putnam Advisory Company, LLC (“PAC”), each an indirect, wholly-owned subsidiary of Franklin Resources, Inc.

AMENDMENT NO. 11 AND CONSENT NO. 6 to CREDIT AGREEMENT
Credit Agreement • September 26th, 2024 • Putnam Pennsylvania Tax Exempt Income Fund

AMENDMENT NO. 11 AND CONSENT NO. 6 (this “Amendment”), dated as of December 7, 2023, to the Credit Agreement, dated as of September 24, 2015, among each trust listed on Schedule 2 to the Credit Agreement (defined below), the Banks and other lending institutions party, and State Street Bank and Trust Company, as Agent (in such capacity the “Agent”), as amended, supplemented or otherwise modified by Joinder Agreement No. 1, dated as of August 29, 2016, Letter Agreement, dated as of August 29, 2016, Amendment No. 1 to Credit Agreement, dated as of September 22, 2016, Notice Letter, dated October 5, 2016, Notice Letter, dated February 22, 2017, Notice Letter, dated April 19, 2017, Amendment No. 2 to Credit Agreement, dated as of September 21, 2017, Amendment No. 3 to Credit Agreement, dated as of September 20, 2018, Consent No. 1, dated as of November 30, 2018, Notice Letter, dated May 31, 2019, Consent No. 2, dated as of June 24, 2019, Amendment No. 4 to Credit Agreement, dated as of Sept

PUTNAM MINNESOTA TAX EXEMPT INCOME FUND MANAGEMENT CONTRACT
Exempt Income Fund Management Contract • September 26th, 2024 • Putnam Pennsylvania Tax Exempt Income Fund

This Management Contract is dated as of January 31, 2024 between PUTNAM MINNESOTA TAX EXEMPT INCOME FUND, a Massachusetts business trust (the “Fund”), and PUTNAM INVESTMENT MANAGEMENT, LLC, a Delaware limited liability company (the “Manager”).

FINANCIAL INSTITUTION SERVICE AGREEMENT Between:
Financial Institution Service Agreement • September 26th, 2024 • Putnam Pennsylvania Tax Exempt Income Fund

We are pleased to inform you that, pursuant to the terms of this Financial Institution Service Agreement, we are authorized to pay you service fees in connection with the accounts of your customers that hold shares of certain Putnam Funds listed in Schedule 1 that have adopted distribution plans pursuant to Rule 12b-1 (the “12b-1 Funds”). Payment of the service fees is subject to your initial and continuing satisfaction of the following terms and conditions which may be revised by us from time to time: (see Schedule 1)

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