Amendment to the Index License Agreement for Funds, dated as of Dec. 16, 2011



 Exhibit 10.67 
 AMD_00061392.0 
 Client Code/Reference No: 130339 

AMENDMENT 
 Effective Date
as of December 16, 2011 
 AMENDMENT to the Index License Agreement for Funds (the “Agreement”), dated as of May 18,
2000, by and between MSCI Inc. (formerly known as Morgan Stanley Capital International, Inc.) (“MSCI”) and BlackRock Institutional Trust Company, N.A. (formerly known as Barclays Global investors, N.A.)
(“Licensee”). Capitalized terms used herein but not otherwise defined herein shall have the meanings ascribed to them in the Agreement. 
  

	1.	Licensee may publish the following Fund and Index information at the following frequencies on its web sites within ishares.com, and in Licensee’s printed materials
regarding each Fund and Index: 

 Fund Information 

 

			
	Information	  	Frequency
	 Fund Holdings and aggregate weight
	  	Daily
	 Sector Diversification
	  	Daily
	 Country / Geographic Allocation
	  	Daily
	 Number of Securities
	  	Daily
	Financial Characteristics (aggregate level only): Median Market Capitalization, PE Ratio, PB Ratio, R-Squared, Beta, 30-Day Yield, ROE, Earnings Growth, Foreign Holdings, Turnover
Rate for most recent year.	  	Daily
	 Volatility Characteristics
	  	Daily
	 Performance Returns
	  	Daily                             
           

 Index
Information 
  

			
	Information	  	Frequency
	 Sector Diversification
	  	Monthly, 10 day delay
	 Country / Geographic Allocation
	  	Monthly, 10 day delay
	 Number of Constituents
	  	Monthly, 10 day delay
	Financial Characteristics (aggregate level only): Median Market Capitalization, PE Ratio, PB Ratio, ROE, Earnings Growth Rate, Foreign Holdings.	  	Monthly, 10 day delay
	 Volatility Measures
	  	Monthly, 10 day delay
	 Performance returns
	  	Same frequency as MSCI.com

 provided that each such web site and printed publication includes the disclaimers required by the
Agreement, as applicable, and each such page of the web site and printed publication containing any such data shall include the following additional disclaimer: 
 You agree not to reproduce, distribute or disseminate Fund holdings information, defined and limited to constituents, weights, valuation ratios, and volatility characteristics, or any Index holdings
information, in whole or in part, in any form without prior written permission from MSCI. All such information is provided on an “as is” basis, and MSCI makes no express or implied warranties or representations of any kind with respect to
any of the information contained herein (including, without limitation, with respect to the accuracy, completeness, reliability, merchantability or fitness for a particular purpose of any such information or any financial results








 
you may achieve from its use). In no event shall MSCI or its affiliates have any liability relating to the use of any such information. You may use this information solely for informational
purposes in order to review the holdings of your investment. You may not make any other use of this information, including, without limitation, in connection with or as the basis for any other financial product or index. 

In addition, notwithstanding anything to the contrary in the Agreement, Licensee may distribute daily through Licensee’s website,
with or without password protection, the relevant portfolio composition file (PCF) and PCF proof of the Fund’s portfolio, provided, any such website shall contain the disclaimers required by the Agreement and this Amendment, or otherwise agreed
to in writing by the parties. Upon written notice to Licensee, MSCI may withdraw any such distribution approval. 
 MSCI may
terminate this disclosure right upon written notice to Licensee if MSCI determines in its good faith reasonable discretion that such disclosure is cannibalizing or otherwise detrimentally affecting MSCI’s business, provided that the rights to
distribute the data cannot be revoked to the extent that it is required to be published pursuant to applicable law. 
 The above
disclosure rights shall only apply with respect to Funds that are traded on an exchange. 
  

	2.	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. No right or license of any kind is 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 or choice of laws principles. 


 

									
	BlackRock Institutional Trust Company, N.A.	 		 	MSCI INC.
					
	By	 	/s/ Jenni A. Lee         	 		 	By	 	/s/ David Dalpe        
	 Name and Title     Jenni A. Lee / Director
	 		 	Name and Title     David Dalpe
	       (printed)
	 		 	  (printed)     Vice President


  

			
	BlackRock Institutional Trust Company, N.A.
		
	By	 	/s/ Timothy M. Meyer        
	 Name and Title      Timothy M. Meyer / M. Director

	       (printed)