Exhibit 10.116

 

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.
     AMD_00175670.0   

AMENDMENT

Effective Date as of August 1, 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”). Capitalized terms used but not
defined herein shall have the meanings ascribed to them in the Agreement.

For the avoidance of doubt, the Agreement and this Amendment relate solely to
“Funds” which are exchange traded fields (ETFs) listed in the United States.

MSCI and Licensee acknowledge and agree that, notwithstanding anything to the
contrary, all *********** applicable to the iShares MSCI USA ETF (which tracks
the performance of the MSCI USA Index) are intended to be, and shall at all
times be, *********** described in this Amendment which
********************************************.

 

1. MSCI USA Equal Weighted Index:

a. Before the Effective Date of this Amendment, and in accordance with the terms
of the Agreement, Licensee launched the iShares MSCI USA ETF, which tracks the
performance of the MSCI USA Index. On a date to be selected by Licensee
following the Effective Date of this Schedule (the “Conversion Date”), Licensee
shall cause the iShares MSCI USA ETF to (i) stop tracking the performance of the
MSCI USA Index and (ii) begin tracking the performance of the MSCI USA Equal
Weighted Index. Commencing on the Conversion Date, the iShares MSCI USA ETF
shall be renamed the “iShares MSCI USA Equal Weighted ETF.”

On the Conversion Date, the Agreement shall be amended by (i) deleting all
references therein to the MSCI USA Index and (ii) adding the MSCI USA Equal
Weighted Index to Exhibit A of the Agreement. For the avoidance of doubt,
Licensee shall have no right or license to use the MSCI USA Index under the
Agreement at any time on or after the Conversion Date.

Until to Conversion Date, all *********** for the iShares MSCI USA ETF shall be
*********** Section 2(c) of that certain Amendment (internal MSCI reference:
AMD_00058142.0) dated as of July 1, 2011 between MSCI and Licensee; provided,
however, that such ************************************************** Amendment
(internal MSCI reference: AMD_00058142.0) dated as of July 1, 2011 between MSCI
and Licensee).

Commencing on the Conversion Date, Licensee shall pay MSCI a *********** license
fee with respect to Licensee’s use of the MSCI USA Equal Weighted Index as
***********, the iShares MSCI USA Equal Weighted ETF. For the iShares MSCI USA
Equal Weighted ETF, the *********** license fee shall be as set forth in the
table below, but subject to a ***************************
**********************************************.

***********

***********

***********

***********

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

 

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AMD_ 00175670.0

 

b. Definitions: As used herein, the following terms shall have the meanings set
forth below:

“AUM” means, ***********, the aggregate ********************************* of
such Fund during any relevant period.

“Expense Ratio” means the *********** obtained when dividing
******************************************************
******************************************************************************.
Notwithstanding anything to the contrary, if a Fund *********** or if the Fund’s
********************** or if a Fund’s ***********, then the license fees for
such Fund shall be deemed to equal
******************************************************************************
**************.

c. Payment: The license fees set forth above shall be *********** to MSCI by the
*********** day of the following *********** and shall be accompanied by a
statement from Licensee stating that such license fees are accurate. Where
necessary, all license fees applicable to any Fund shall be
*********************************. Any license fees or other amounts due
hereunder that are not timely paid shall
********************************************, which ****** shall begin ****** on
the relevant due date and shall continue to ********
************************************.

d. Records: Licensee shall maintain detailed and accurate records with respect
to the ********************** to MSCI hereunder. During the term of the
Agreement and for a period of three (3) years after its termination, Licensee
shall, upon written request from MSCI, provide MSCI and/or an independent
accounting organization chosen and compensated by MSCI with access to such
records during normal business hours. Licensee shall promptly
******************************************************* for the period of time
during which **********************. If such audit reveals
**********************, then Licensee shall also **********************.

e. Taxes: Licensee shall promptly pay all federal, state and local sales,
personal property, ad valorem and other taxes of a similar nature arising as a
result of the Agreement, other than taxes based on MSCI’s income.

2. Miscellaneous:

a. Notwithstanding anything to the contrary, if the Conversion Date does not
occur on or before July 31, 2016, then MSCI may terminate this Amendment in its
entirety upon written notice to Licensee — with the effect that
******************************
***********************************************************************************************************
***********************************************************************************************************
******************************.

b. This Amendment is intended to amend and operate in conjunction with the
Agreement and, together, this Amendment and the Agreement constitute the
complete and exclusive statement of the agreement between the parties and
supersede in full all prior proposals and understandings, oral or written,
relating to the subject matter hereof. In the event of any conflict or
inconsistency between this Amendment and the Agreement (or any other amendment
to the Agreement), this Amendment shall control. No right or license of any kind
of granted to Licensee except as expressly provided in the Agreement and this
Amendment. This Amendment shall be governed by, and construed in accordance
with, the laws of the State of New York without regard to its conflict of laws
principles.

 

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AMD_ 00175670.0

ACCEPTED AND AGREED:

 

MSCI Inc.     BlackRock Fund Advisors By:   /s/ Alex Gil     By:   /s/ Manish
Mehta Name:   Alex Gil     Name:   Manish Mehta Title:   Executive Director    
Title:   Managing Director

 

 

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