EX-99.H3B 15 ex99_h3b.htm

SCHEDULE B
TO THE SHAREHOLDER SERVICING AGREEMENT
(Amended as of November 16, 2006)

Money Market Funds

Current Name Former Name Share Class Shareholder Servicing Fee*
(annual rate expressed as a
percentage of the average daily
net assets of each Class of Shares)
JPMorgan 100% U.S. Treasury Securities Money Market Fund JPMorgan 100% U.S. Treasury Securities Money Market Fund Capital 0.05%
    Institutional 0.10%
    Agency 0.15%
    Premier 0.30%
    Morgan 0.35%
    Reserve 0.30%
JPMorgan California Municipal Money Market Fund JPMorgan California Tax Free Money Market Fund Morgan 0.35%
    E*TRADE 0.30%
JPMorgan Federal Money Market Fund JPMorgan Federal Money Market Fund Institutional 0.10%
    Agency 0.15%
    Premier 0.30%
    Morgan 0.35%
    Reserve 0.30%
JPMorgan Liquid Assets Money Market Fund One Group Prime Money Market Fund Capital 0.05%
    Institutional 0.10%
    Agency 0.15%
    Premier 0.30%
    Investor 0.35%
    Morgan 0.35%
    Reserve 0.30%
    Class B 0.25%
    Class C 0.25%
    Service 0.30%
JPMorgan Michigan Municipal Money Market Fund One Group Michigan Municipal Money Market Fund Premier 0.30%
    Morgan 0.35%
    Reserve 0.30%
JPMorgan Municipal Money Market Fund One Group Municipal Money Market Fund Institutional 0.10%
    Agency 0.15%
    Premier 0.30%
    Morgan 0.35%
    Reserve 0.30%
    Service 0.30%
    E*TRADE 0.30%

B - 1


Current Name Former Name Share Class Shareholder Servicing Fee*
(annual rate expressed as a
percentage of the average daily
net assets of each Class of Shares)
JPMorgan New York Municipal Money Market Fund JPMorgan New York Tax Free Money Market Fund Morgan 0.35%
    Reserve 0.30%
    E*TRADE 0.30%
JPMorgan Ohio Municipal Money Market Fund One Group Ohio Municipal Money Market Fund Premier 0.30%
    Morgan 0.35%
    Reserve 0.30%
JPMorgan Prime Money Market Fund JPMorgan Prime Money Market Fund Capital 0.05%
    Institutional 0.10%
    Agency 0.15%
    Premier 0.30%
    Morgan 0.35%
    Reserve 0.30%
    Class B 0.25%
    Class C 0.25%
    Cash Management 0.30%
JPMorgan Tax Free Money Market Fund JPMorgan Tax Free Money Market Fund Institutional 0.10%
    Agency 0.15%
    Premier 0.30%
    Morgan 0.35%
    Reserve 0.30%
JPMorgan U.S. Government Money Market Fund One Group Government Money Market Fund Capital 0.05%
    Institutional 0.10%
    Agency 0.15%
    Premier 0.30%
    Morgan 0.35%
    Reserve 0.30%
    Service 0.30%
JPMorgan U.S. Treasury Plus Money Market Fund One Group U.S. Treasury Securities Money Market Fund Institutional 0.10%
    Agency 0.15%
    Premier 0.30%
    Investor 0.35%
    Morgan 0.35%
    Reserve 0.30%
    Class B 0.25%
    Class C 0.25%

B - 2


Equity Funds
Current Name Former Name Share Class Shareholder Servicing Fee*
(annual rate expressed as a
percentage of the average daily
net assets of each Class of Shares)
Highbridge Statistical Market Neutral Fund N/A Class A 0.25%
    Class C 0.25%
    Select 0.25%
    Institutional 0.10%
JPMorgan Asia Equity Fund JPMorgan Fleming Asia Equity Fund Class A 0.25%
    Select 0.25%
    Institutional 0.10%
JPMorgan Capital Growth Fund JPMorgan Capital Growth Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan China Region Fund N/A Class A 0.25%
    Class C 0.25%
    Select 0.25%
    R Class 0.05%
JPMorgan Disciplined Equity Fund JPMorgan Disciplined Equity Fund Class A 0.25%
    Select 0.25%
    Institutional 0.10%
JPMorgan Diversified Fund JPMorgan Diversified Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
    Institutional 0.10%
JPMorgan Intrepid Mid Cap Fund One Group Diversified Mid Cap Fund and JPMorgan
Diversified Mid Cap Fund
Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan Diversified Mid Cap Growth Fund One Group Mid Cap Growth Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan Diversified Mid Cap Value Fund One Group Mid Cap Value Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%

B - 3


Current Name Former Name Share Class Shareholder Servicing Fee*
(annual rate expressed as a
percentage of the average daily
net assets of each Class of Shares)
JPMorgan Dynamic Small Cap Fund JPMorgan Dynamic Small Cap Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan Emerging Markets Equity Fund JPMorgan Fleming Emerging Markets Equity Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
    Institutional 0.10%
JPMorgan Equity Income Fund One Group Equity Income Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan Equity Index Fund One Group Equity Index Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan Global Focus Fund (effective upon the
effectiveness of the Fund’s registration statement)
N/A Class A 0.25%
    Class C 0.25%
    Select 0.25%
    R Class 0.05%
JPMorgan Global Strategic Appreciation Fund (effective
upon the effectiveness of the Fund’s registration
statement)
N/A Class A 0.25%
    Class C 0.25%
    Select 0.25%
    R Class 0.05%
JPMorgan Global Strategic Preservation Fund (effective
upon the effectiveness of the Fund’s registration
statement)
N/A Class A 0.25%
    Class C 0.25%
    Select 0.25%
    R Class 0.05%
JPMorgan Growth and Income Fund JPMorgan Growth and Income Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%

B - 4


Current Name Former Name Share Class Shareholder Servicing Fee*
(annual rate expressed as a
percentage of the average daily
net assets of each Class of Shares)
JPMorgan India Fund (effective upon the effectiveness of
the Fund’s registration statement)
N/A Class A 0.25%
    Class C 0.25%
    Select 0.25%
    R Class 0.05%
JPMorgan International Equity Fund JPMorgan Fleming International Equity Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
    Institutional 0.10%
    R Class 0.05%
JPMorgan International Equity Index Fund One Group International Equity Index Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan International Growth Fund JPMorgan Fleming International Growth Fund Class A 0.25%
    Class B 0.25%
JPMorgan International Opportunities Fund JPMorgan Fleming International Opportunities Fund Class A 0.25%
    Class B 0.25%
    Select 0.25%
    Institutional 0.10%
JPMorgan International Small Cap Equity Fund JPMorgan Fleming International Small Cap Equity Fund Class A 0.25%
    Class B 0.25%
    Select 0.25%
    Institutional 0.10%
JPMorgan International Realty Fund N/A Class A 0.25%
    Class C 0.25%
    Select 0.25%
    R Class 0.05%
JPMorgan International Value Fund JPMorgan Fleming International Value Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
    Institutional 0.10%

B - 5


Current Name Former Name Share Class Shareholder Servicing Fee*
(annual rate expressed as a
percentage of the average daily
net assets of each Class of Shares)
JPMorgan Intrepid America Fund JPMorgan Intrepid America Fund Class A 0.25%
    Class C 0.25%
    Select 0.25%
    R Class 0.05%
JPMorgan Intrepid Multi Cap Fund JPMorgan Intrepid Investor Fund and JPMorgan Intrepid
Contrarian Fund (name effective until 4/10/06)
Class A 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan Intrepid European Fund JPMorgan Fleming Intrepid European Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
    Institutional 0.10%
JPMorgan Intrepid Growth Fund JPMorgan Intrepid Growth Fund Class A 0.25%
    Class C 0.25%
    Select 0.25%
    R Class 0.05%
JPMorgan Intrepid Long/Short Fund N/A Class A 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan Intrepid Value Fund JPMorgan Intrepid Value Fund Class A 0.25%
    Class C 0.25%
    Select 0.25%
    R Class 0.05%
JPMorgan Investor Balanced Fund One Group Investor Balanced Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan Investor Conservative Growth Fund One Group Investor Conservative Growth Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan Investor Growth Fund One Group Investor Growth Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%

B - 6


Current Name Former Name Share Class Shareholder Servicing Fee*
(annual rate expressed as a
percentage of the average daily
net assets of each Class of Shares)
JPMorgan Investor Growth & Income Fund One Group Investor Growth & Income Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan Japan Fund JPMorgan Fleming Japan Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan Large Cap Growth Fund One Group Large Cap Growth Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan Large Cap Value Fund One Group Large Cap Value Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
    R Class 0.05%
JPMorgan Latin America Fund (effective upon the
effectiveness of the Fund’s registration statement)
N/A Class A 0.25%
    Class C 0.25%
    Select 0.25%
    R Class 0.05%
JPMorgan Market Expansion Index Fund One Group Market Expansion Index Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan Market Neutral Fund JPMorgan Market Neutral Fund Class A 0.25%
    Class B 0.25%
    Institutional 0.10%
JPMorgan Micro Cap Fund N/A Class A 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan Mid Cap Equity Fund JPMorgan Mid Cap Equity Fund Class A 0.25%
    Select 0.25%
JPMorgan Growth Advantage Fund JPMorgan Mid Cap Growth Fund (change effective 8/17/05) Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%

B - 7


Current Name Former Name Share Class Shareholder Servicing Fee*
(annual rate expressed as a
percentage of the average daily
net assets of each Class of Shares)
JPMorgan Mid Cap Value Fund JPMorgan Mid Cap Value Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
    Institutional 0.10%
JPMorgan Multi-Cap Market Neutral Fund One Group Market Neutral Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan Multi-Manager Small Cap Growth Fund JPMorgan Multi-Manager Small Cap Growth Fund No Class 0.25%
    Designation
JPMorgan Multi-Manager Small Cap Value Fund JPMorgan Multi-Manager Small Cap Value Fund No Class 0.25%
    Designation
JPMorgan Russia Fund (effective upon the effectiveness of
the Fund’s registration statement)
N/A Class A 0.25%
    Class C 0.25%
    Select 0.25%
    R Class 0.05%
JPMorgan Small Cap Core Fund JPMorgan Trust Small Cap Equity Fund Select 0.25%
JPMorgan Small Cap Equity Fund JPMorgan Small Cap Equity Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
    R Class 0.05%
JPMorgan Small Cap Growth Fund One Group Small Cap Growth Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
    Institutional 0.10%
JPMorgan Small Cap Value Fund One Group Small Cap Value Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
    R Class 0.05%
JPMorgan SmartRetirement Income Fund N/A Class A 0.25%
    Class C 0.25%
    Select 0.25%
    Institutional 0.10%

B - 8


Current Name Former Name Share Class Shareholder Servicing Fee*
(annual rate expressed as a
percentage of the average daily
net assets of each Class of Shares)
JPMorgan SmartRetirement 2010 Fund N/A Class A 0.25%
    Class C 0.25%
    Select 0.25%
    Institutional 0.10%
JPMorgan SmartRetirement 2015 Fund N/A Class A 0.25%
    Class C 0.25%
    Select 0.25%
    Institutional 0.10%
JPMorgan SmartRetirement 2020 Fund N/A Class A 0.25%
    Class C 0.25%
    Select 0.25%
    Institutional 0.10%
JPMorgan SmartRetirement 2030 Fund N/A Class A 0.25%
    Class C 0.25%
    Select 0.25%
    Institutional 0.10%
JPMorgan SmartRetirement 2040 Fund N/A Class A 0.25%
    Class C 0.25%
    Select 0.25%
    Institutional 0.10%
JPMorgan Strategic Small Cap Value Fund N/A Class A 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan Tax Aware Core Equity Fund N/A Select 0.25%
JPMorgan Tax Aware Disciplined Equity Fund JPMorgan Tax Aware Disciplined Equity Fund Institutional 0.10%
JPMorgan Tax Aware Diversified Equity Fund N/A Select 0.25%
JPMorgan Tax Aware International Fund N/A Select 0.25%
JPMorgan Intrepid International Fund JPMorgan Fleming Tax Aware International Opportunities Fund and JPMorgan Tax Aware International Opportunities Fund Class A 0.25%
    Class C 0.25%
    Select 0.25%
    Institutional 0.10%
JPMorgan Tax Aware Large Cap Growth Fund JPMorgan Tax Aware Large Cap Growth Fund Select 0.25%
JPMorgan Equity Income II Fund JPMorgan Tax Aware Large Cap Value Fund (this name effective until 9/15/06) Select 0.25%

B - 9


Current Name Former Name Share Class Shareholder Servicing Fee*
(annual rate expressed as a
percentage of the average daily
net assets of each Class of Shares)
JPMorgan Tax Aware U.S. Equity Fund JPMorgan Tax Aware U.S. Equity Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
    Institutional 0.10%
JPMorgan U.S. Equity Fund JPMorgan U.S. Equity Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
    Institutional 0.10%
    R Class 0.05%
JPMorgan U.S. Large Cap Core Plus Fund N/A Class A 0.25%
    Class C 0.25%
    Select 0.25%
    R Class 0.05%
JPMorgan U.S. Real Estate Fund One Group Real Estate Fund Class A 0.25%
    Class C 0.25%
    Select 0.25%
    R Class 0.05%
JPMorgan U.S. Small Company Fund JPMorgan U.S. Small Company Fund Select 0.25%
    Institutional 0.10%
JPMorgan Value Advantage Fund N/A Class A 0.25%
    Class C 0.25%
    Select 0.25%
    Institutional 0.10%
Undiscovered Managers Small Cap Growth Fund UM Small Cap Growth Fund Class A 0.25%
    Institutional 0.10%
Undiscovered Managers Behavioral Growth Fund Undiscovered Managers Behavioral Growth Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Institutional 0.10%
    Investor Class 0.35%(1)
Undiscovered Managers Behavioral Value Fund Undiscovered Managers Behavioral Value Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Institutional 0.10%
(1) This amount represents the combined amount that may be paid by the Investor Shares of the Fund under the Distribution Plan and the Shareholder Servicing Agreement.

B - 10


Current Name Former Name Share Class Shareholder Servicing Fee*
(annual rate expressed as a
percentage of the average daily
net assets of each Class of Shares)
JPMorgan Realty Income Fund Undiscovered Managers REIT Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Institutional 0.10%
    R Class 0.05%

Fixed Income Funds

Current Name Former Name Share Class Shareholder Servicing Fee*
(annual rate expressed as a
percentage of the average daily
net assets of each Class of Shares)
JPMorgan Arizona Municipal Bond Fund One Group Arizona Municipal Bond Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan Bond Fund JPMorgan Bond Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
    Institutional 0.10%
JPMorgan California Tax Free Bond Fund JPMorgan California Bond Fund Class A 0.25%
    Class C 0.25%
    Select 0.25%
    Institutional 0.10%
JPMorgan Core Bond Fund One Group Bond Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
    R Class 0.05%
JPMorgan Core Plus Bond Fund One Group Income Bond Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan Enhanced Income Fund JPMorgan Enhanced Income Fund Institutional 0.10%

B - 11


Current Name Former Name Share Class Shareholder Servicing Fee*
(annual rate expressed as a
percentage of the average daily
net assets of each Class of Shares)
JPMorgan Emerging Markets Debt Fund JPMorgan Fleming Emerging Markets Debt Fund Select 0.25%
    Class A 0.25%
    Class C 0.75%
    R Class 0.05%
JPMorgan Strategic Income Fund JPMorgan Global Strategic Income Fund (name effective until 6/16/06) Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
    Institutional 0.10%
    Class M 0.30%
JPMorgan Government Bond Fund One Group Government Bond Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan High Yield Bond Fund One Group High Yield Bond Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
    R Class 0.05%
JPMorgan Intermediate Bond Fund One Group Intermediate Bond Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan Intermediate Tax Free Bond Fund JPMorgan Intermediate Tax Free Income Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
    Institutional 0.10%
JPMorgan International Currency Income Fund (effective upon the effectiveness of the Fund’s registration statement) N/A Class A 0.25%
    Class C 0.25%
    Select 0.25%
    R Class 0.05%
JPMorgan Kentucky Municipal Bond Fund One Group Kentucky Municipal Bond Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%

B - 12


Current Name Former Name Share Class Shareholder Servicing Fee*
(annual rate expressed as a
percentage of the average daily
net assets of each Class of Shares)
JPMorgan Louisiana Municipal Bond Fund One Group Louisiana Municipal Bond Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan Michigan Municipal Bond Fund One Group Michigan Municipal Bond Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan Mortgage-Backed Securities Fund One Group Mortgage-Backed Securities Fund Class A 0.25%
    Select 0.25%
JPMorgan Municipal Income Fund One Group Municipal Income Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan New York Tax Free Bond Fund JPMorgan New York Intermediate Tax Free Income Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
    Institutional 0.10%
JPMorgan Ohio Municipal Bond Fund One Group Ohio Municipal Bond Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan Real Return Fund N/A Class A 0.25%
    Class C 0.25%
    Select 0.25%
    Institutional 0.10%
JPMorgan Short Duration Bond Fund One Group Short-Term Bond Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan Short Term Bond Fund JPMorgan Short Term Bond Fund Class A 0.25%
    Select 0.25%
    Institutional 0.10%
JPMorgan Short Term Bond Fund II JPMorgan Short Term Bond Fund II Class A 0.25%
    Select 0.25%
    Class M 0.25%

B - 13


Current Name Former Name Share Class Shareholder Servicing Fee*
(annual rate expressed as a
percentage of the average daily
net assets of each Class of Shares)
JPMorgan Short Term Municipal Bond Fund One Group Short-Term Municipal Bond Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan Tax Aware Enhanced Income Fund JPMorgan Tax Aware Enhanced Income Fund Class A 0.25%
    Select 0.25%
    Institutional 0.10%
JPMorgan Tax Aware Real Return Fund N/A Class A 0.25%
    Class C 0.25%
    Select 0.25%
    Institutional 0.10%
JPMorgan Tax Aware Short-Intermediate Income Fund JPMorgan Tax Aware Short-Intermediate Income Fund Select 0.25%
    Institutional 0.10%
JPMorgan Tax Free Bond Fund One Group Tax-Free Bond Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan Treasury & Agency Fund One Group Treasury & Agency Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan Ultra Short Duration Bond Fund One Group Ultra Short-Term Bond Fund and JPMorgan Ultra Short Term Bond Fund (name change effective 7/1/06) Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan West Virginia Municipal Bond Fund One Group West Virginia Municipal Bond Fund Class A 0.25%
    Class B 0.25%
    Class C 0.25%
    Select 0.25%
JPMorgan World Income Builder Fund (effective upon the effectiveness of the Fund’s registration statement) N/A Class A 0.25%
    Class C 0.25%
    Select 0.25%

* Up to 0.25% of this fee may be for the Shareholder Services described in Section 2.2 of this Agreement.

B - 14


*  *  *  *

  J.P. Morgan Fleming Mutual Fund Group, Inc.
J.P. Morgan Mutual Fund Group
J.P. Morgan Mutual Fund Investment Trust
JPMorgan Trust I
JPMorgan Trust II
J.P. Morgan Fleming Series Trust
Undiscovered Managers Funds
    On behalf of themselves and each of their Funds

 
  By: _______________________________________________

  Name: _______________________________________________

  Title: _______________________________________________

  JPMorgan Distribution Services, Inc.

 
  By: _______________________________________________

  Name: _______________________________________________

  Title: _______________________________________________

B - 15