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Exhibit 4(d)


   BLACKROCK FUNDS II

   Addendum No. 2 to the Investment Advisory Agreement

        This Addendum dated as of the       day of February, 2010 is entered into by and between BLACKROCK FUNDS II, a Massachusetts business trust (the “Fund”), and BLACKROCK ADVISORS, LLC, a
Delaware limited liability company (the “Adviser”).

      WHEREAS, the Fund and the Adviser have entered into an Investment Advisory Agreement dated as of May 31, 2007 (the “Advisory Agreement”) pursuant to which the Fund appointed the
Adviser to act as investment adviser to certain investment portfolios of the Fund; and

      WHEREAS, Section 1(b) of the Advisory Agreement provides that in the event the Fund establishes one or more additional investment portfolios with respect to which it desires to retain the
Adviser to act as investment adviser under the Advisory Agreement, the Fund shall so notify the Adviser in writing and if the Adviser is willing to render such services it shall so notify the Fund in writing; and

      WHEREAS, pursuant to Section 1(b) of the Advisory Agreement, the Fund has notified the Adviser that it is establishing the BlackRock Multi-Sector Bond Portfolio (the “New Portfolio”),
and that it desires to retain the Adviser to act as the investment adviser therefor, and the Adviser has notified the Fund that it is willing to serve as investment adviser to the New Portfolio;
        NOW,
    THEREFORE, the parties hereto, intending to be legally bound, hereby agree
    as follows:

  	    	 1.      	 Appointment. The Fund hereby appoints
          the Adviser to act as investment adviser to the New Portfolio for the
          period and on the terms set forth in the Advisory Agreement. The Adviser
          hereby accepts such appointment and agrees to render the services set
          forth in the Advisory Agreement with respect to the New Portfolio for
          the compensation herein provided.

	 	 	 
	 	 2.      	 Compensation.

	 	 	 
	 	 	 The Adviser [shall receive any compensation
          from the Fund at the annual rates set forth on Appendix A for the services
          provided and the expenses assumed pursuant to the Advisory Agreement.]

	 	 	 
	 	 3.      	 Capitalized Terms. From and after
          the date hereof, the term “Portfolio” as used in the Advisory
          Agreement shall be deemed to include the BlackRock Multi-Sector Bond
          Portfolio.

	 	 	 
	 	 4.      	 Miscellaneous. Except to the extent
          supplemented hereby, the Advisory Agreement shall remain unchanged and
          in full force and effect, and is hereby ratified and confirmed in all
          respects as supplemented hereby. Without limiting the generality of
          the foregoing, it is understood that the Adviser may employ one or more
          sub-advisers for the New Portfolio pursuant to Section 2 of the Advisory
          Agreement.

	 	 	 
	 	 5.      	 Release. “BlackRock Funds II”
          and “Trustees of BlackRock Funds II” refer respectively to
          the trust created and the Trustees, as trustees but not individually
          or personally, acting from time to time under a Declaration of Trust
          dated April 26, 2007, which is hereby referred to and a copy of which
          is on file at the office of the State Secretary of the Commonwealth
          of Massachusetts and at the principal office of the Fund. The obligations
          of “BlackRock Funds II” entered into in the name or on behalf
          thereof by any of the Trustees, officers, representatives or agents
          are made not individually, but in such














    

  	     	         	 capacities, and are not binding upon any of the Trustees,
          shareholders, officers, representatives or agents of the Fund personally,
          but bind only the Trust Property (as defined in the Declaration of Trust),
          and all persons dealing with any class of shares of the Fund must look
          solely to the Trust Property belonging to such class for the enforcement
          of any claims against the Fund.



   [End of Text]












      IN WITNESS WHEREOF, the parties hereto have caused this Addendum No. 2 to the Advisory Agreement to be executed by their officers designated below as of the day and year first above written.



    		
	     	 BLACKROCK FUNDS II
	 	  
	 	 By: ______________________
	 	 Name:
	 	 Title:
	 	  
	 	 BLACKROCK ADVISORS, LLC
	 	  
	 	 By: ______________________
	 	 Name:
	 	 Title:


  
 









Appendix A

Fees 

BlackRock Multi-Sector Bond Portfolio



  		
	 Advisory Fee (as a percentage 

          of average daily net assets)
          
	 First $1 billion	 0.500%
	 $1 billion – $2 billion	 0.450%
	 $2 billion – $3 billion	 0.425%
	 Greater than $3 billion	 0.400%