EX-99.77(Q)(1) 10 d32323_ex99-77q1ad2014tra.htm EX-99.77(Q)(1)

JOHN HANCOCK FUNDS II

AMENDMENT TO ADVISORY AGREEMENT

 

AMENDMENT (the “Amendment”) made this 17th day of December, 2014, to the Advisory Agreement dated January 1, 2014, as amended, between John Hancock Funds II, a Massachusetts business trust (the “Trust”) and John Hancock Advisers, LLC, a Delaware limited liability company (“JHA” or the “Adviser”). In consideration of the mutual covenants contained herein, the parties agree as follows:

 

1.CHANGES IN APPENDIX A

 

Appendix A is amended to: (i) reduce the advisory fees for the Total Return Fund and (ii) reduce the advisory fees for the Alternative Asset Allocation Fund.

 

2.EFFECTIVE DATES

 

The Amendment shall become effective on January 1, 2015 following approval of the Amendment by the Board of Trustees of the Trust.

 

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John Hancock Funds II

 

By: /s/ Andrew G. Arnott  
Name: Andrew G. Arnott
Title: President

 

John Hancock Advisers, LLC

 

By: /s/ Leo Zerilli  
Name: Leo Zerilli
Title: Senior Vice President and Chief Investment Officer
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APPENDIX A

 

ADVISORY FEE SCHEDULES

 

The Adviser shall serve as investment adviser for each Fund of the Trust listed below. The Trust will pay the Adviser, as full compensation for all services provided under this Agreement with respect to each Fund, the fee computed separately for such Fund at an annual rate as follows (the “Adviser Fee”).

 

The term Aggregate Net Assets in the chart below includes the net assets of a Fund of the Trust. It also includes with respect to certain Funds as indicated in the chart the net assets of one or more other portfolios, but in each case only for the period during which the subadviser for the Fund also serves as the subadviser for the other portfolio(s) and only with respect to the net assets of such other portfolio(s) that are managed by the subadviser.

 

For purposes of determining Aggregate Net Assets and calculating the Adviser Fee, the net assets of the Fund and each other fund of the Trust are determined as of the close of business on the previous business day of the Trust, and the net assets of each portfolio of each other fund are determined as of the close of business on the previous business day of that fund.

 

The Adviser Fee for a Fund shall be based on the applicable annual fee rate for the Fund which for each day shall be equal to (i) the sum of the amounts determined by applying the annual percentage rates in the table to the applicable portions of Aggregate Net Assets divided by (ii) Aggregate Net Assets (the “Applicable Annual Fee Rate”). The Adviser Fee for each Fund shall be accrued and paid daily to the Adviser for each calendar day. The daily fee accruals will be computed by multiplying the fraction of one over the number of calendar days in the year by the Applicable Annual Fee Rate, and multiplying this product by the net assets of the Fund. Fees shall be paid either by wire transfer or check, as directed by the Adviser.

 

If, with respect to any Fund, this Agreement becomes effective or terminates, or if the manner of determining the Applicable Annual Fee Rate changes, before the end of any month, the fee (if any) for the period from the effective date to the end of such month or from the beginning of such month to the date of termination or from the beginning of such month to the date of such change, as the case may be, shall be prorated according to the proportion which such period bears to the full month in which such effectiveness or termination or change occurs.

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Advisory Fee Schedules

 

Trust Portfolio   Aggregate Net Assets Include
the Net Assets of the following
funds in addition to the Trust
Portfolio		   Advisory Fee of the Trust Portfolio
         
Active Bond Fund   Active Bond Trust (JHVIT)   0.600% first $2.5 billion;
0.575% next $2.5 billion; and
0.550% excess over $5 billion
         
All Cap Core Fund   All Cap Core Trust (JHVIT)   0.800% — first $500 million; and 0.750% — excess over $500 million.
         
Alpha Opportunities Fund   Alpha Opportunities Trust (JHVIT)   1.025% — first $250 million;
1.00% — next $250 million;
0.975% — next $500 million; and
0.950% — excess over $1 billion.
         
Alternative Asset Allocation Fund   N/A   See below
         
Asia Pacific Total Return Bond Fund (formerly Asia Pacific Total Return Bond Fund)   N/A   0.725% --- first $250 million;
0.700% --- next $250 million; and
0.600% --- excess over $500 million.
         
Blue Chip Growth Fund   Blue Chip Growth Trust (JHVIT)   0.825% — first $1 billion; and
0.775% — excess over $1 billion.*
*When Aggregate Net Assets exceed $1 billion on any day, the annual rate of advisory fee for that day is 0.800% on the first $1 billion of Aggregate Net Assets.
         
Capital Appreciation Fund   Capital Appreciation Trust (JHVIT)   0.850% — first $300 million; 0.800% — between $300 million and $500 million; 0.700% — between $500 million and $1 billion; and 0.670% — excess over $1 billion.
         
Capital Appreciation Value Fund   Capital Appreciation Value Trust (JHVIT)   See below
         
Emerging Leaders Fund (formerly China Emerging   Emerging Markets Value Trust (JHVIT); Emerging Markets   1.00% — first $100 million; 0.950% - excess over $100 million.
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Leaders Fund)   Fund    
         
Core Bond Fund   Core Bond Trust (JHVIT)   0.690% — first $200 million; 0.640% — next $200 million; and 0.570% — excess over $400 million.
         
Absolute Return Currency Fund (formerly Currency Strategies Fund)   Currency Strategies Trust (JHVIT)   0.950% — first $250 million;
0.900% — next $250 million; and
0.850% — excess over $500 million.
         
Diversified Strategies Fund   N/A   1.000% — first $500 million; and
0.950% — excess over $500 million.
         
Emerging Markets Fund   Emerging Markets Value Trust (JHVIT); Emerging Leaders Fund   1.00% — first $100 million; 0.950% - excess over $100 million
         
Emerging Markets Debt Fund   Not applicable   0.725% — first $250 million; 0.700% — next $500 million; and 0.675% — excess over $750 million.
         
Equity-Income Fund   Equity-Income Trust (JHVIT)   0.825% — first $1 billion; and
0.775% — excess over $1 billion.*
*When Aggregate Net Assets exceed $1 billion on any day, the annual rate of advisory fee for that day is 0.800% on the first $1 billion of Aggregate Net Assets.
         
Financial Services Fund   Financial Services Trust (JHVIT)   0.800% — first $50 million;
0.775% — next $450 million; and
0.750% — excess over $500 million.
         
Floating Rate Income Fund   N/A   0.700% — first $1.1 billion;
0.675% — next $0.90 billion;

0.650% — next $1.5 billion; and
0.600% — excess over $3.5 billion..
         
Fundamental All Cap Core Fund   Fundamental All Cap Core Trust (JHVIT)   0.675% — first $2.5 billion;
0.650% — excess over $2.5 billion.
         
Fundamental Global Franchise Fund   N/A   0.800% --- first $1 billion; and
0.780% --- excess over $1 billion.
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Fundamental Large Cap Core Fund   N/A   0.725% — first $500 million; 0.700% — next $500 million; 0.675% — next $500 million; and 0.650% — excess over $1.5 billion.
         
Fundamental Large Cap Value Fund   Fundamental Large Cap Value Trust (JHVIT);
Fundamental Value Trust (JHVIT)		   0.70% — first $500 million; 0.65% — next $500 million; and 0.60% — excess over $1 billion.
         
Fundamental Value Fund   Fundamental Value Trust (JHVIT)   0.800% — first $50 million; 0.775% — next $450 million; and 0.750% — excess over $500 million.
         
Global Absolute Return Strategies Fund   N/A   1.300% --- first $200 million;
1.250% --- next $300 million;
1.200% --- next $2.5 billion*;
1.150% --- next $2.5 billion;
1.120% --- next $1.5 billion;
1.100% --- next $3.0 billion; and
1.070% --- excess over $10.0 billion.

* Once aggregate net assets exceed $500 million, the rate applies retroactively to all assets at or below $3.0 billion.
         
Global Bond Fund   Global Bond Trust (JHVIT)   0.700% — at all asset levels.
         
Global Equity Fund   N/A   0.825% First $500 million; and
0.800% Excess over $500 million.*
* When Aggregate Net Assets exceed $500 million, the advisory fee is 0.800% on all asset levels.
         
Global Income Fund (formerly Global High Yield Fund)   N/A   0.785% — first $250 million;
0.770% — next $500 million; and
0.750% — excess over $750 million.
         
Global Real Estate Fund   N/A   0.900% — first $500 million;
0.875% — next $250 million; and
0.850% — excess over $750 million.
         
Health Sciences Fund   Health Sciences Trust (JHVIT)   1.050% --- first $500 million;
1.000% --- next $250 million; and
0.950% --- excess over $750 million.
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        *When Aggregate Net Assets exceed $750 million, the advisory fee is 0.95% on all net assets
         
High Yield Fund   High Yield Trust (JHVIT)   0.700% — first $500 million; and 0.650% — excess over $500 million.
         
Income Allocation Fund   N/A   See below
         
Income Fund   JHVIT
Income Trust
International Value Trust
Global Trust
Mutual Shares Trust

JHF II
International Small Cap Fund
International Value Fund
Global Fund
Mutual Shares Fund		   1.075% first $50 million;
0.915% next $150 million;
0.825% next $300 million; and
0.800% excess over $500 million

When Aggregate Net Assets exceed $500 million, the advisory fee is 0.800% on all net assets of the Income Fund.
         
International Growth Equity Fund   N/A   0.85% — first $750 million of aggregate net assets;
0.80% — next $500 million of aggregate net assets; and
0.75% — excess over $1.25 billion of aggregate net assets.
         
International Growth Opportunities Fund   N/A   0.975% --- first $100 million;
0.850% --- next $300 million; and
0.750% --- excess over $400 million.
         
International Growth Stock Fund   International Growth Stock Trust (JHVIT)   0.850% — first $250 million;
0.800% — next $500 million; and
0.750% — excess over $750 million.
         
International Small Cap Fund   N/A   1.050% — first $200 million; 0.950% — next $300 million; and 0.850% — excess over $500 million.
         
International Small Company Fund   International Small Company Trust (JHVIT)   0.950% — at all asset levels.
         
International Value Fund   JHVIT   0.950% first $150 million;
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    Global Trust
Income Trust
International Value Trust
Mutual Shares Trust

JHF II
Global Fund
Income Fund
International Small Cap Fund
Mutual Shares Fund		   0.850% next $150 million; and
0.800% excess over $300 million

When Aggregate Net Assets exceed $300 million, the advisory fee rate is 0.800% on all net assets.
         
Investment Quality Bond Fund   Investment Quality Bond Trust (JHVIT)   0.600% — first $500 million; and
0.550% — excess over $500 million.
         
Retirement Living Portfolios   Lifecycle Trusts (JHVIT)
Retirement Choices
Retirement Living II		   See below
         
Retirement Living II Portfolios   Lifecycle Trusts (JHVIT)
Retirement Choices
Retirement Living		   See below
         
Lifestyle Portfolios   Lifestyle Trusts (JHVIT)
Lifestyle PS Series (JHVIT)
Lifestyle II Portfolios		   See below
         
Lifestyle II Portfolios   Lifestyle Trusts (JHVIT)
Lifestyle PS Series (JHVIT)
Lifestyle Portfolios		   See below
         
Mid Cap Growth Index Fund   N/A   0.530% -- first $50 million; 0.510% -- next $50 million; and
0.490% — excess over $100 million.
         
Mid Cap Stock Fund   Mid Cap Stock Trust (JHVIT)   0.875% — first $200 million; 0.850% — next $300 million; and 0.825% — excess over $500 million.
         
Mid Cap Value Index Fund   N/A   0.530% -- first $50 million; 0.510% -- next $50 million; and
0.490% — excess over $100 million.
         
Mid Value Fund   Mid Value Trust (JHVIT)   1.050% — first $50 million;
1.00% — excess over $50 million.
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Short Duration Credit Opportunities Fund (formerly Multi Sector Bond Fund)   N/A   0.740% — first $250 million;
0.700% — next $500 million; and
0.675% — excess over $750 million.
         
Mutual Shares Fund   Mutual Shares Trust (JHVIT)   0.960% first $750 million;
0.920% excess over $750 million.#

#When Aggregate Net Assets for the JHVIT Mutual Shares Trust and JHF II Mutual Shares Fund exceed $750 million, the advisory fee is 0.92% on all net assets of the Mutual Shares Fund.
         
Natural Resources Fund   N/A   1.000% - first $500 million;
0.950% - next $500 million;
0.900% - next $1 Billion; and
0.850% - excess over $2 Billion
         
Real Estate Equity Fund   N/A   0.875% — first $250 million; 0.850% — next $250 million; and 0.825% — excess over $500 million.
         
Real Estate Securities Fund   Real Estate Securities Trust (JHVIT)   0.700% — at all asset levels.
         
Real Return Bond Fund   Real Return Bond Trust (JHVIT)   0.700% — first $1 billion; and 0.650% — excess over $1 billion.
         
Redwood Fund   N/A   1.200% --- first $100 million;
1.150% --- next $100 million;
1.100% --- above $200 million, retroactive to prior asset levels; and
1.050% --- excess over $500 million.
         
Retirement Choices Portfolios   Lifecycle Trusts (JHVIT)
Retirement Living
Retirement Living II		   See below
         
Science & Technology Fund   Science & Technology Trust (JHVIT)   1.050% — first $500 million; and 1.000% — excess over $500 million.
         
Short Term Government Income Fund   Short Term Government Income Trust (JHVIT)   0.570% — first $250 million; and
0.550% — excess over $250 million.
         
Small Cap Growth Fund   Small Cap Growth Trust   1.100% — first $100 million;
1.050% — next $400 million; and
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        1.000% — excess over $500 million.
         
Small Cap Opportunities Fund   Small Cap Opportunities Trust (JHVIT)   1.000% — first $500 million;
0.950% — next $500 million;
0.900% — next $1 billion.; and
0.850% — excess over $2 billion
         
Small Cap Value Fund   Small Cap Value Trust (JHVIT)   1.100% — first $100 million;
1.050% — next $500 million; and
1.000% — excess over $600 million
         
Small Company Growth Fund   JHVIT
Small Company Growth Trust
Small Cap Opportunities Trust
International Growth Stock Trust
Value Trust

JHF II
Small Cap Opportunities Fund
International Growth Stock Fund
Value Fund		   1.050% — first $250 million; and
1.000% — excess over $250 million.

The applicable rate is 1.000% on all net assets of the Small Company Growth Fund when the Aggregate Net Assets exceed $1 billion.
         
Small Company Value Fund   Small Company Value Trust (JHVIT)   1.050% — first $500 million; and 1.000% — excess over $500 million.
         
Spectrum Income Fund   New Income Trust (JHVIT)   0.800% — first $250 million; and 0.725% — excess over $250 million.
         
Strategic Equity Allocation Fund   Strategic Equity Allocation Trust (JHVIT)   0.675% -- first $2.5 billion;
0.650% -- next $5 billion;
0.625% -- next $2.5 billion; and
0.600% -- excess over $10 billion
         
Strategic Income Opportunities Fund   JHF II
Income Allocation Fund, only with respect to the assets of Income Allocation Fund managed according to the subadviser’s strategic income opportunities strategy
JHVIT
Strategic Income Opportunities Trust		   0.700% first $500 million;
0.650% next $3 billion; and
0.600% excess over $3.5 billion
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Technical Opportunities Fund   N/A   1.20% first $250 million; and
1.15% excess over $250 million..
         
Total Return Fund   Total Return Trust (JHVIT)   See below
         
U.S. High Yield Bond Fund   N/A   0.750% — first $200 million; and
0.720% — excess over $200 million.
         
U.S. Equity Fund   U.S. Equity Trust (JHVIT)   0.780% — first $500 million; 0.760% — next $500 million; and 0.740% — excess over $1 billion.
         
Value Fund   Value Trust (JHVIT)   0.750% — first $200 million; 0.725% — next $300 million; and 0.650% — excess over $500 million.
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Capital Appreciation Value Fund

 

If net assets are less than $500 million, the following fee schedule shall apply:

 

First $250
million of
Aggregate Net
Assets		   Excess Over $250 million
of Aggregate Net Assets
0.950%   0.850%

 

If net assets equal or exceed $500 million but are less than $2 billion, the following fee schedule shall apply:

 

First $1 billion
of Aggregate
Net Assets		   Excess Over $1 billion
of Aggregate Net Assets
0.850%   0.800%

 

If net assets equal or exceed $2 billion but are less than $3 billion, the following fee schedule shall apply:

 

First $500
million of
Aggregate Net
Assets		   Excess Over $500 million
of Aggregate Net Assets
0.850%   0.800%

 

If net assets equal or exceed $3 billion, the following fee schedule shall apply:

 

All Asset
Levels
0.800%
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Total Return Fund

 

The Adviser shall serve as investment adviser for the Portfolio of the Trust listed below. The Trust will pay the Adviser, as full compensation for all services provided under this Agreement with respect to the Portfolio, the fee computed separately for the Portfolio at an annual rate as follows (the “Adviser Fee”).

 

Pacific Investment Management Company (“PIMCO”) is the Subadviser to the Portfolio

 

Portfolio   First
$1 Billion
of Total Return
Net Assets**		   Excess Over
$1 Billion
of Total Return
Net Assets**
Total Return Fund   0.700%   0.650%

 

PIMCO is not the Subadviser to the Portfolio

 

If PIMCO is not the subadviser to the Portfolio, the following fee schedule shall apply:

 

Portfolio   First
$1 Billion
of Total Return
Net Assets**		   Excess Over
$1 Billion
of Total Return
Net Assets**
Total Return Fund   0.700%   0.675%

 

**The term Total Return Net Assets includes the net assets of the Portfolio. It also includes with respect to the Portfolio the net assets of the Total Return Trust, a series of John Hancock Variable Insurance Trust but only for the period during which the subadviser for the Portfolio also serves as the subadviser for the Total Return Trust. For purposes of determining Total Return Net Assets and calculating the Advisory Fee, the net assets of the Portfolio are determined as of the close of business on the previous business day of the Trust, and the net assets of the Total Return Trust are determined as of the close of business on the previous business day of that fund.

 

The Adviser Fee for a Portfolio shall be based on the applicable annual fee rate for the Portfolio which for each day shall be equal to (i) the sum of the amounts determined by applying the annual percentage rates in the table to the applicable portions of Total Return Net Assets divided by (ii) Total Return Net Assets (the “Applicable Annual Fee Rate”). The Adviser Fee for each Portfolio shall be accrued and paid daily to the Adviser for each calendar day. The daily fee accruals will be computed by multiplying the fraction of one over the number of calendar days in the year by the Applicable Annual Fee Rate, and multiplying this product by the net assets of the Portfolio. Fees shall be paid either by wire transfer or check, as directed by the Adviser.

 

If, with respect to any Portfolio, this Agreement becomes effective or terminates, or if the manner of determining the Applicable Annual Fee Rate changes, before the end of any month, the fee (if any) for the period from the effective date to the end of such month or from the beginning of such month to the date of termination or from the beginning of such month to the date such change, as the case may be, shall be prorated according to the proportion which such period bears to the full month in which such effectiveness or termination or change occurs.

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Funds of Funds

 

The Adviser shall serve as investment adviser for each Portfolio listed below (each a “Fund of Funds”).

 

Lifestyle Aggressive Portfolio   Retirement Living through 2010 Portfolio
Lifestyle Balanced Portfolio   Retirement Living through 2015 Portfolio
Lifestyle Conservative Portfolio   Retirement Living through 2020 Portfolio
Lifestyle Growth Portfolio   Retirement Living through 2025 Portfolio
Lifestyle Moderate Portfolio   Retirement Living through 2030 Portfolio
(collectively, the “Lifestyle Portfolios”)   Retirement Living through 2035 Portfolio
    Retirement Living through 2040 Portfolio
    Retirement Living through 2045 Portfolio
Retirement Choices at 2010 Portfolio   Retirement Living through 2050 Portfolio
Retirement Choices at 2015 Portfolio   Retirement Living through 2055 Portfolio
Retirement Choices at 2020 Portfolio   (collectively, the “Retirement Living Portfolios”)
Retirement Choices at 2025 Portfolio    
Retirement Choices at 2030 Portfolio    
Retirement Choices at 2035 Portfolio   Retirement Living through II 2010 Portfolio
Retirement Choices at 2040 Portfolio   Retirement Living through II 2015 Portfolio
Retirement Choices at 2045 Portfolio   Retirement Living through II 2020 Portfolio
Retirement Choices at 2050 Portfolio   Retirement Living through II 2025 Portfolio
Retirement Choices at 2055 Portfolio   Retirement Living through II 2030 Portfolio
(collectively, the “Retirement Choices Portfolios”)   Retirement Living through II 2035 Portfolio
    Retirement Living through II 2040 Portfolio
    Retirement Living through II 2045 Portfolio
Lifestyle II Aggressive Portfolio   Retirement Living through II 2050 Portfolio
Lifestyle II Balanced Portfolio   Retirement Living through II 2055 Portfolio
    (collectively, the “Retirement Living II Portfolios”)
Lifestyle II Conservative Portfolio    
Lifestyle II Growth Portfolio   Alternative Asset Allocation Fund
Lifestyle II Moderate Portfolio   Income Allocation Fund
     
(collectively, the “Lifestyle II Portfolios”)    

 

Certain Definitions:

 

“Affiliated Fund Assets” means the net assets or Aggregate Net Assets (as applicable) of a Fund of Funds that are invested in Affiliated Funds.

 

“Affiliated Funds” are any fund of John Hancock Trust (“JHVIT”), John Hancock Funds II (“JHF II”) or John Hancock Funds III (“JHF III”), excluding the following funds of JHVIT: the Money Market Trust B, 500 Index Trust B, International Equity Index Trust B and Total Bond Market Trust B.

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“Aggregate Net Assets” of a Fund of Funds means the net assets of the Fund of Funds and the net assets of one or more other Funds of JHVIT, JHF II or JHF III, but only with respect to and for so long as such other Fund of Funds is managed by the same subadviser as the Fund of Funds.

 

“Other Assets” means the net assets or Aggregate Net Assets, as applicable, of a Fund of Funds that are not invested in Affiliated Funds.

 

Adviser Fee:

 

The Trust will pay the Adviser, as full compensation for all services provided under this Agreement with respect to each Fund of Funds, a fee computed separately for each Fund of Funds as follows (the “Adviser Fee”).

 

The Adviser Fee for each Fund of Funds has two components: (a) a fee on Affiliated Fund Assets; and (b) a fee on Other Assets. Each such fee shall be accrued and paid daily to the Adviser for each calendar day. The daily Adviser Fee for each Fund of Funds shall be the sum of the daily fee on Affiliated Fund Assets and the daily fee on Other Assets. Fees shall be paid either by wire transfer or check, as directed by the Adviser.

 

(a) Fee on Affiliated Fund Assets. The fee on Affiliated Fund Assets is stated as an annual percentage of the current value of either the net assets or the Aggregate Net Assets (as applicable) of the Fund of Funds, in each case determined in accordance with the fee schedule set forth below for the Fund of Funds, and that percentage rate (the “Applicable Annual Affiliated Funds Fee Rate”) is applied to the Affiliated Fund Assets of the Fund of Funds. For each day, the Applicable Annual Affiliated Funds Fee Rate for the Fund of Funds shall be equal to (i) the sum of the amounts determined by applying the annual percentage rates for Affiliated Fund Assets in the fee schedule to the applicable portions of the net assets or Aggregate Net Assets of the Fund of Funds divided by (ii) the net assets or Aggregate Net Assets, as applicable, of the Fund of Funds. The daily fee accrual on Affiliated Fund Assets will be computed by multiplying the fraction of one over the number of calendar days in the year by the Applicable Annual Affiliated Funds Fee Rate, and multiplying this product by the Affiliated Fund Assets of the Fund of Funds.

 

(b) Fee on Other Assets. The fee on Other Assets is stated as an annual percentage of the current value of either the net assets or the Aggregate Net Assets (as applicable) of the Fund of Funds, in each case determined in accordance with the fee schedule set forth below for the Fund of Funds, and that percentage rate (the “Applicable Annual Other Assets Fee Rate”) is applied to the Other Assets of the Fund of Funds. For each day, the Applicable Annual Other Assets Fee Rate for the Fund of Funds shall be equal to (i) the sum of the amounts determined by applying the annual percentage rates for Other Assets in the fee schedule to the applicable portions of the net assets or Aggregate Net Assets of the Fund of Funds, divided by (ii) the net assets or Aggregate Net Assets, as applicable, of the Fund of Funds. The daily fee accrual on Other Assets will be computed by multiplying the fraction of one over the number of calendar days in the year by the Applicable Annual Other Assets Fee Rate, and multiplying this product by the Other Assets of the Fund of Funds.

 

Net assets, Aggregate Net Assets, Affiliated Fund Assets and Other Assets with respect to a Fund of Funds shall be determined as of the close of business on the previous business day of JHVIT for JHVIT Funds, as of the close of business on the previous business day of JHF II for JHF II Funds and as of the close of business on the previous business day of JHF III for JHF III Funds.

 

If, with respect to any Fund of Funds, this Agreement becomes effective or terminates, or if the manner of determining the Applicable Annual Affiliated Funds Fee Rate or the Applicable Annual Other Assets Fee Rate changes, before the end of any month, the fee (if any) for the period from the effective date to the end of such month or from the beginning of such month to the date of termination or from the beginning of such month to the date such change, as the

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case may be, shall be prorated according to the proportion which such period bears to the full month in which such effectiveness or termination or change occurs.

 

Fee Schedules:

 

Lifestyle Portfolios

   Rates Applied to Aggregate Net Assets of the Fund of Funds
(1)
Fund of Funds  Affiliated Fund Assets  Other Assets
   First
$7.5 billion		  Excess
Over $7.5
billion		  First
$7.5 billion		  Excess Over
$7.5 billion
Each Lifestyle Portfolio  0.050%  0.040%  0.500%  0.490%

 

 

(1) Aggregate Net Assets. For each Lifestyle Portfolio, Aggregate Net Assets include the net assets of all the Lifestyle Portfolios, the net assets of all the Lifestyle II Portfolios, the net assets of all the JHVIT Lifestyle Trusts and the net assets of all the JHVIT Lifestyle PS Series. The JHVIT Lifestyle Trusts are: the Lifestyle Aggressive Trust, Lifestyle Balanced Trust, Lifestyle Conservative Trust, Lifestyle Growth Trust and Lifestyle Moderate Trust. The JHVIT Lifestyle PS Series are: the Lifestyle Aggressive PS Series, Lifestyle Balanced PS Series, Lifestyle Conservative PS Series, Lifestyle Growth PS Series and Lifestyle Moderate PS Series.

 

   Rates Applied to Aggregate Net Assets of the Fund of Funds
(1)
Fund of Funds  Affiliated Fund Assets  Other Assets
   First
$7.5 billion		  Excess
Over $7.5
billion		  First
$7.5 billion		  Excess Over
$7.5 billion
Each Lifestyle II Portfolio  0.050%  0.040%  0.500%  0.490%

 

 

(1) Aggregate Net Assets. For each Lifestyle II Portfolio, Aggregate Net Assets include the net assets of all the Lifestyle II Portfolios, the net assets of all the Lifestyle Portfolios, the net assets of all the JHVIT Lifestyle Trusts and the net assets of all the JHVIT Lifestyle PS Series. The JHVIT Lifestyle Trusts are: the Lifestyle Aggressive Trust, Lifestyle Balanced Trust, Lifestyle Conservative Trust, Lifestyle Growth Trust and Lifestyle Moderate Trust. The JHVIT Lifestyle PS Series are: the Lifestyle Aggressive PS Series, Lifestyle Balanced PS Series, Lifestyle Conservative PS Series, Lifestyle Growth PS Series and Lifestyle Moderate PS Series.

 

Retirement Living Portfolios

   Rates Applied to Aggregate Net Assets of the Fund of Funds
(1)
Fund of Funds  Affiliated Fund Assets  Other Assets
   First
$7.5 billion		  Excess
Over $7.5
billion		  First
$7.5 billion		  Excess Over
$7.5 billion
Each Retirement Living Portfolio  0.060%  0.050%  0.510%  0.500%
16
 

(1) Aggregate Net Assets. For each Retirement Living Portfolio, Aggregate Net Assets include the net assets of all the Retirement Living Portfolios, the net assets of all the Retirement Living II Portfolios, the net assets of all the Retirement Choices Portfolios, and the net assets of all the JHVIT Lifecycle Trusts. The JHVIT Lifecycle Trusts are: the Lifecycle 2010 Trust, Lifecycle 2015 Trust, Lifecycle 2020 Trust, Lifecycle 2025 Trust, Lifecycle 2030 Trust, Lifecycle 2035 Trust, Lifecycle 2040 Trust, Lifecycle 2045 Trust and Lifecycle 2050 Trust.

 

Retirement Living II Portfolios

   Rates Applied to Aggregate Net Assets of the Fund of Funds
(1)
Fund of Funds  Affiliated Fund Assets  Other Assets
   First
$7.5 billion		  Excess
Over $7.5
billion		  First
$7.5 billion		  Excess Over
$7.5 billion
Each Retirement Living II Portfolio  0.060%  0.050%  0.510%  0.500%

 

 

(1) Aggregate Net Assets. For each Retirement Living II Portfolio, Aggregate Net Assets include the net assets of all the Retirement Living II Portfolios, the net assets of all the Retirement Living Portfolios, the net assets of all the Retirement Choices Portfolios, and the net assets of all the JHVIT Lifecycle Trusts. The JHVIT Lifecycle Trusts are: the Lifecycle 2010 Trust, Lifecycle 2015 Trust, Lifecycle 2020 Trust, Lifecycle 2025 Trust, Lifecycle 2030 Trust, Lifecycle 2035 Trust, Lifecycle 2040 Trust, Lifecycle 2045 Trust and Lifecycle 2050 Trust.

 

Retirement Choices Portfolios

   Rates Applied to Aggregate Net Assets of the Fund of Funds
(1)
Fund of Funds  Affiliated Fund Assets  Other Assets
   First
$7.5 billion		  Excess
Over $7.5
billion		  First
$7.5 billion		  Excess Over
$7.5 billion
Each Retirement Choices Portfolio  0.060%  0.050%  0.510%  0.500%

 

 

(1) Aggregate Net Assets. For each Retirement Choices Portfolio, Aggregate Net Assets include the net assets of all the Retirement Choices Portfolios, the net assets of all the Retirement Living Portfolios, the net assets of all the Retirement Living II Portfolios, and the net assets of all the JHVIT Lifecycle Trusts. The JHVIT Lifecycle Trusts are: the Lifecycle 2010 Trust, Lifecycle 2015 Trust, Lifecycle 2020 Trust, Lifecycle 2025 Trust, Lifecycle 2030 Trust, Lifecycle 2035 Trust, Lifecycle 2040 Trust, Lifecycle 2045 Trust and Lifecycle 2050 Trust.

17

Alternative Asset Allocation Fund

   Rates Applied to net assets of the Fund of Funds
    
Fund of Funds  Affiliated Fund Assets  Other Assets
   First
$5.0 billion		  Excess
Over $5.0
billion		  First
$5.0 billion		  Excess Over
$5.0 billion
Alternative Asset Allocation Fund  0.100%  0.075%  0.550%  0.525%

 

Income Allocation Fund

 

   Rates Applied to net
assets of the Fund of
Funds		  Rates Applied to net assets of
the Fund of Funds
       
Fund of Funds  Affiliated Fund Assets  Other Assets
   First
$5
billion		  Excess
Over
$5
billion		  First
$5 billion		  Excess
Over $5
billion
Income Allocation Fund  0.200%  0.175%  0.650%  0.625%
18