Exhibit 10.119

 

CONFIDENTIAL TREATMENT REQUESTED. *********** INDICATES OMITTED MATERIAL THAT IS
THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST FILED SEPARATELY WITH THE
COMMISSION. THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE COMMISSION.
  

 

A.N.: 130339

AMD_00178569.0

AMENDMENT

Date of Amendment: August 3, 2015

AMENDMENT (this “Amendment”) to the Index License Agreement for Funds (internal
MSCI reference: IXF_00040) dated as of March 18, 2000 (the “Agreement”) by and
between MSCI Inc. (formerly known as Morgan Stanley Capital International Inc.)
(“MSCI”) and BlackRock Fund Advisors, a California corporation (as successor to
Barclays Global Investors, NA.) (“Licensee”).

The parties acknowledge that the Agreement was previously amended by, among
other amendments, that certain Amendment (internal MSCI reference:
AMD_00135107.0) dated as of August 15, 2014 (the “Previous Amendment”). This
Amendment shall supplement and operate in conjunction with the Previous
Amendment. Capitalized terms used but not defined in this Amendment shall have
the meanings ascribed to them in the Agreement or the Previous Amendment, as the
case may be.

 

1. Exhibit A of the Agreement is hereby amended to add the following Indexes:

 

  •   MSCI Europe Small Cap 100% Hedged to USD Index

Or such other names as agreed by Licensee and MSCI in writing.

 

2. Licensee may use the Indexes set forth in Section 1 above solely with respect
to the following Funds (each, a “Hedged ETF” and each Hedged ETF shall also be a
“Fund” as such term is defined in the Agreement):

 

  •   iShares Currency Hedged MSCI Europe Small-Cap ETF

Or such other names as agreed by Licensee and MSCI in writing.

The Hedged ETFs shall be exchange traded index funds listed on a national
securities exchange located in the United States.

 

3. Fees payable with respect to the Hedged ETFs:

a. Definitions:

As used in this Amendment, the following terms shall have the meanings set forth
below:

“Un-Hedged ETF” means, for each ***********, the
*********************************************** set forth in the following
table:

**************************

**************************

“Expense Ratio” means the ***********. obtained when dividing
*************************************

***********************************
*****************************************************************

************************************************************************************************

****************************.

“AUM” means the *******************************************************
*********************************.

“Reinvested AUM” means, for each ***************************************
******************************************************************************************************.

 

 

1

--------------------------------------------------------------------------------

A.N.: 130339

AMD_00178569.0

“Unreinvested AUM” means, for each
***********************************************
*********************************************************************************************.

For the avoidance of doubt, the total of the *********** and the *********** of
any *********** during any relevant period must equal the total
*****************************************.

 

b. Calculation of Fees:

Each *********** during the term, and for each ***********, Licensee shall pay
to MSCI the *********** set forth to the table below *******************
*********************************************************.

*****************************

*****************************

*****************************

*****************************

For the avoidance of doubt, the *********** shall be calculated ***********. For
example,
********************************************************************************************

********************************************************************************************

********************************************************************************************

********************************************************************************************

********************************************************************************************

***********************************************************.

For the avoidance of doubt, there shall be no *********** fees due or payable
under the ***********with respect to the ***********or the ***********.

 

c. Reporting:

Within *********** days of the end of each *********** Licensee shall report to
MSCI (i) the AUM, the
*******************************************************************************************

********************************************************************************************

********************************************************************************************

********************************************************************************************

********************************************************************************************

*******************************************************************************************.

 

4. Special Conditions:

 

a. To the extent that this Amendment conflicts with the Agreement or the
Previous Amendment, this Amendment shall control. No right or license of any
kind is granted to Licensee except as expressly provided in the Agreement, the
Previous Amendment and this Amendment.

 

b. MSCI may terminate this Amendment with respect to any Index set forth in
Section 1 if, within one (1) year of the date of this Amendment, Licensee does
not list a Hedged ETF that is based on such Index.

 

c. If Licensee delists any Hedged ETF or changes the underlying Index for such
Hedged ETF, Licensee’s right to use the relevant Index set forth in Section 1
with respect to such Hedged ETF shall automatically and immediately terminate.

 

d. This Amendment shall be governed by, and construed in accordance with, the
laws of the State of New York without regard to its conflict or choice of laws
principles.

 

2

--------------------------------------------------------------------------------

A.N.: 130339

AMD_00178569.0

 

ACKNOWLEDGED AND AGREED     LICENSEE: BlackRock Fund Advisors     MSCI INC. By  
/s/ Manish Mehta     By   /s/ Alex Gil Name   Manish Mehta     Name   Alex Gil
Title   Managing Director     Title   Executive Director Date   September 25,
2015     Date   Nov 12, 2015

 

3