0001379491-16-003451 Sample Contracts

TERMINAL LINK MASTER CUSTODY AGREEMENT
Master Custody Agreement • April 27th, 2016 • Franklin Mutual Series Funds

The following is a list of the Investment Companies and their respective Series for which the Custodian shall serve under the Master Custody Agreement dated as of February 16, 1996.

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SUB-ADVISORY AGREEMENT FRANKLIN Mutual Series Funds On behalf of FRANKLIN mutual European fund
Sub-Advisory Agreement • April 27th, 2016 • Franklin Mutual Series Funds • Delaware

THIS SUB-ADVISORY AGREEMENT made as of the 1st day of May 2015, by and between FRANKLIN MUTUAL ADVISERS, LLC, a Delaware limited liability company (“FMA”), and FRANKLIN TEMPLETON INVESTMENT MANAGEMENT LIMITED, incorporated under the laws of England (“FTIML”).

FRANKLIN MUTUAL SERIES FUNDS on behalf of MUTUAL GLOBAL DISCOVERY FUND AMENDED AND RESTATED INVESTMENT MANAGEMENT AGREEMENT
Investment Management Agreement • April 27th, 2016 • Franklin Mutual Series Funds • Delaware

THIS INVESTMENT MANAGEMENT AGREEMENT, dated as of July 1, 2014, and amended as of July 1, 2015, is made between FRANKLIN MUTUAL SERIES FUNDS, a Delaware statutory trust (the “Trust”), on behalf of MUTUAL GLOBAL DISCOVERY FUND (the “Fund”), a series of the Trust, and FRANKLIN MUTUAL ADVISERS, LLC, a Delaware limited liability company (the “Adviser”), and amends and restates the prior Investment Management Agreement between the Trust, on behalf of the Fund, and the Adviser, dated as of May 1, 2008, and amended as of June 1, 2011.

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