EX-10.95



 Exhibit 10.95 
 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_00145581.0 
 AMENDMENT 

Date of Amendment: September 22, 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 MSCI 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 Index: 

  

	 	•	 	 MSCI ACWI Low Carbon Target Index 


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

	2.	Licensee may use the Index 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 ACWI Low Carbon Target ETF 


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

	3.	Licensee shall pay MSCI a ********* 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 ***************************************************************************************************** *********. 

 

	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 Agreement. 

  

	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 constructed in accordance with, the laws of the State of New York without regard to its conflict or choice of laws principles.


 ACKNOWLEDGED AND AGREED 
  

									
	LICENSED 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



  
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