EX-10.96



 Exhibit 10.96 
  

			
	CONFIDENTIAL TREATMENT GRANTED. *********** INDICATES OMITTED MATERIAL THAT HAS BEEN GRANTED CONFIDENTIAL TREATMENT BY THE COMMISSION. THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE COMMISSION.	  	  
 A.N.: 130339

AMD_00146453.0


  
 AMENDMENT 

Date of Amendment: October 30, 2014 
 AMENDMENT (this
“Amendment”) to the Index License Agreement for Funds (MSCI reference number IXF_00040) dated as of March 18, 2000 (as previously amended, the “Agreement”) is made by and between MSC1 Inc. (formerly known as
Morgan Stanley Capital International Inc.) (“MSCI”) and BlackRock Fund Advisors, a California corporation (as successor to Barclays Global Investors, N.A.) (“Licensee”). Capitalized terms used but not defined herein
shall have the meanings ascribed to them in the Agreement. 
  

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

  

	 	•	 	************************************************ 

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

	2.	Licensee may use the ***** set forth in Section 1 above solely with respect to the following Licensee fund (which shall be a “Fund” as such term is defined in the Agreement): 


 

	 	•	 	iShares MSCI Emerging Workforce ETF 

 Or such other names as agreed by Licensee and MSCI in
writing. 
 The Fund shall be ************************ fund listed on a national securities exchange located in the United States. 

 

	3.	Licensee shall pay MSCI *********** license fee based on the Fund’s *************************************************, which fee shall be calculated and payable on a ********* basis. The ********* license fee shall
be calculated ************************************************************************************* ************************************************************************************** ***********************, as follows: 


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

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

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

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

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

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

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

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







 “Expense Ratio” shall mean the ********************************* obtained when dividing
******************************************************************************* 

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

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

Notwithstanding anything to the contrary contained herein, if the Fund does not have an ************* or if a Fund’s **********************************
or if a Fund has an *********************, the ********* licensee fee for such Fund shall equal ***********************************************************************************. 

 

	4.	Special Conditions: 

  

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


  

	 	b.	MSCI may terminate this Amendment with respect to the Index set forth in Section 1 if, within one (1) year of the date of this Amendment, Licensee does not list the Fund and/or the Fund is not based on the
Index. 

  

	 	c.	If Licensee delists the Fund or changes the underlying MSCI index for the Fund, then Licensee’s right to use the Index with respect to the Fund 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. 


ACKNOWLEDGED AND AGREED 
  

									
	LICENSEE: BlackRock Fund Advisors	  		  	MSCI Inc.
					
	By  	 	 /s/ Paul C. Lohrey
	  		  	By  	 	 /s/ David Kinzelberg

	Name Paul C. Lohrey	  		  	Name David Kinzelberg
	Title Managing Director	  		  	Title Executive Director
			
	Date 10/29/2014	  		  	Date Nov 3, 2014