Exhibit 4(g)






SUB-ADVISORY AGREEMENT

     AGREEMENT dated as of November 1, 2010, between BlackRock Advisors, LLC, a Delaware limited liability company (“Adviser”), and BlackRock International Limited, a corporation organized under the laws of Scotland (“Sub-Adviser”).

     WHEREAS, Adviser has agreed to furnish investment advisory services to the portfolios named on Appendix A attached hereto (the “Portfolios”) of BlackRock Funds II (the “Fund”), an open-end, management investment company registered under the Investment Company Act of 1940 (“1940 Act”); and

     WHEREAS, Adviser wishes to retain Sub-Adviser to provide it with sub-advisory services as described below in connection with Adviser’s advisory activities on behalf of each Portfolio;

     WHEREAS, the investment advisory agreement between Adviser and the Fund dated May 31, 2007 (such Agreement or the most recent successor agreement between such parties relating to advisory services to each Portfolio is referred to herein as the “Advisory Agreement”) contemplates that Adviser may appoint a sub-adviser to perform investment advisory services with respect to the Portfolios;

     WHEREAS, this Agreement has been approved in accordance with the provisions of the 1940 Act, and Sub-Adviser is willing to furnish such services upon the terms and conditions herein set forth;

     NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, it is agreed between the parties hereto as follows:

     1. Appointment. Adviser hereby appoints Sub-Adviser to act as sub-adviser with respect to each Portfolio as provided in Section 2 of the Advisory Agreement. Sub-Adviser accepts such appointment and agrees to render the services herein set forth for the compensation herein provided.


     2. Services of
Sub-Adviser. Subject to the oversight and supervision of Adviser and the
Fund’s Board of Trustees, Sub-Adviser will supervise the day-to-day
operations of the Portfolios and perform the following services: (i) act as
investment adviser for and manage the investment and reinvestment of those
assets of the Portfolios as Adviser may from time to time request and in
connection therewith have complete discretion in purchasing and selling such
securities and other assets for the Portfolios and in voting, exercising
consents and exercising all other rights appertaining to such securities and
other assets on behalf of the Portfolios; (ii) provide investment research and
credit analysis concerning the Portfolios’ investments; (iii) assist
Adviser in determining what portion of the Portfolios’ assets will be
invested in cash and cash equivalents and money market instruments; (iv) place
orders for all purchases and sales of the investments made for the Portfolios;
and (v) maintain the books and records as are required to support Fund
operations (in conjunction with record-keeping and accounting functions
performed by Adviser). At the request of Adviser, Sub-Adviser will also, subject
to the oversight and supervision of Adviser and the direction and control of the
Fund’s Board of Trustees, provide to Adviser or the Fund any of the
facilities and equipment and perform any of the services described in Section 4
of the Advisory Agreement. In addition, Sub-Adviser will keep the Fund and
Adviser informed of developments materially affecting the Portfolios and shall,
on its own initiative, furnish to the Fund from time to time whatever
information Sub-Adviser believes appropriate for this purpose. Sub-Adviser will
periodically communicate to Adviser, at such times as Adviser may direct,
information concerning the purchase and sale of securities for the Portfolios,
including (i) the name of the issuer, (ii) the amount of the purchase or sale,
(iii) the name of the broker or dealer, if any, through which the purchase or
sale will be effected, (iv) the CUSIP number of the instrument, if any, and (v)
such other information as Adviser may reasonably require for purposes of
fulfilling its obligations to the Fund under the Advisory Agreement. Sub-Adviser
will provide the services rendered by it under this Agreement in accordance with
each Portfolio’s investment objective, policies and restrictions as stated
in such Portfolio’s prospectuses and statements of additional information
(as currently in effect and as they may be amended or supplemented from time to
time), and the resolutions of the Fund’s Board of Trustees.











     3. Other Sub-Adviser Covenants. Sub-Adviser further agrees that it:

          (a) will comply with (i) the provisions of the 1940 Act and the Investment Advisers Act of 1940, as amended and all applicable rules and regulations of the Securities and Exchange Commission (the “SEC”), (ii) any other applicable provision of law and (iii) the provisions of this Agreement, the Declaration of Trust and the Code of Regulations of the Fund as such are amended from time to time;


          (b) will place orders
either directly with the issuer or with any broker or dealer. Subject to the
other provisions of this paragraph, in placing orders with brokers and dealers,
Sub-Adviser will attempt to obtain the best price and the most favorable
execution of its orders. In placing orders, Sub-Adviser will consider the
experience and skill of the firm’s securities traders as well as the
firm’s financial responsibility and administrative efficiency. Consistent
with this obligation, Sub-Adviser may, subject to the approval of the
Fund’s Board of Trustees, select brokers on the basis of the research,
statistical and pricing services they provide to a Portfolio and other clients
of Adviser or Sub-Adviser. Information and research received from such brokers
will be in addition to, and not in lieu of, the services required to be
performed by Sub-Adviser hereunder. A commission paid to such brokers may be
higher than that which another qualified broker would have charged for effecting
the same transaction, provided that Sub-Adviser determines in good faith
that such commission is reasonable in terms of either the transaction or the
overall responsibility of Adviser and Sub-Adviser to each Portfolio and their
other clients and that the total commissions paid by each Portfolio will be
reasonable in relation to the benefits to such Portfolio over the long-term. In
no instance, however, will a Portfolio’s securities be purchased from or
sold to Adviser, Sub-Adviser, the Fund’s distributor or any affiliated
person thereof, except to the extent permitted by the SEC or by applicable law.
Subject to the foregoing and the provisions of the 1940 Act, the Securities
Exchange Act of 1934, as amended, and other applicable provisions of law,
Sub-Adviser may select brokers and dealers with which it or the Fund is
affiliated;


          (c) will maintain or cause Adviser to maintain books and records with respect to each Portfolio’s securities transactions and will furnish Adviser and the Fund’s Board of Trustees such periodic and special reports as they may request;

          (d) will maintain a policy and practice of conducting its investment advisory services hereunder independently of the commercial banking operations of its affiliates. When Sub-Adviser makes investment recommendations for a Portfolio, its investment advisory personnel will not inquire or take into consideration whether the issuer of securities proposed for purchase or sale for the Portfolio’s account are customers of the commercial departments of its affiliates. In dealing with commercial customers of its affiliates, Sub-Adviser will not inquire or take into consideration whether securities of those customers are held by the Fund; and

          (e) will treat confidentially and as proprietary information of the Fund all records and other information relative to the Fund, any of the Portfolio’s and the Fund’s prior, current or potential shareholders, and will not use such records and information for any purpose other than performance of its responsibilities and duties hereunder, except after prior notification to and approval in writing by the Fund, which approval shall not be unreasonably withheld and may not be withheld where Sub-Adviser may be exposed to civil or criminal contempt proceedings for failure to comply, when requested to divulge such information by duly constituted authorities, or when so requested by the Fund.

     4. Services Not Exclusive. Sub-Adviser’s services hereunder are not deemed to be exclusive, and Sub-Adviser shall be free to render similar services to others so long as its services under this Agreement are not impaired thereby.

     5. Books and Records. In compliance with the requirements of Rule 31a-3 under the 1940 Act, Sub-Adviser hereby agrees that all records which it maintains for each Portfolio are the property of the Fund and further agrees to surrender promptly to the Fund any such records upon the Fund’s request. Sub-Adviser further agrees to preserve for the periods prescribed by Rule 31a-2 under the 1940 Act the records required to be maintained by Rule 31a-1 under the 1940 Act.

     6. Expenses. During the term of this Agreement, Sub-Adviser will bear all costs and expenses of its employees and any overhead incurred by Sub-Adviser in connection with its duties hereunder;









provided that the Board of Trustees of the Fund may approve reimbursement to Sub-Adviser of the pro rata portion of the salaries, bonuses, health insurance, retirement benefits and all similar employment costs for the time spent on Fund operations (including, without limitation, compliance matters) (other than the provision of investment advice required to be provided hereunder) of all personnel employed by Sub-Adviser who devote substantial time to Fund operations or the operations of other investment companies advised or sub-advised by Sub-Adviser.

     7. Compensation. For the services provided and the expenses assumed pursuant to this Agreement, Adviser will pay to Sub-Adviser a fee, computed daily and payable monthly, at the annual rates set forth on Appendix A attached hereto. For any period less than a month during which this Agreement is in effect, the fee shall be prorated according to the proportion which such period bears to a full month of 28, 29, 30 or 31 days, as the case may be.

     For purposes of the fee rates set forth on Appendix A, the net assets of the Portfolios shall be calculated pursuant to the procedures adopted by resolutions of the Fund’s Board of Trustees for calculating the value of the Fund’s assets or delegating such calculations to third parties.

     If Adviser waives any or all of its advisory fee payable under the Advisory Agreement, or reimburses the Fund pursuant to Section 8(b) of that Agreement, with respect to any Portfolio, Sub-Adviser will bear its share of the amount of such waiver or reimbursement by waiving fees otherwise payable to it hereunder on a proportionate basis to be determined by comparing the aggregate fees that would otherwise be paid to it hereunder with respect to such Portfolio to the aggregate fees that would otherwise be paid by the Fund to Adviser under the Advisory Agreement with respect to such Portfolio. Adviser shall inform Sub-Adviser prior to waiving any advisory fees.

     8. Limitation of Liability. Sub-Adviser shall not be liable for any error of judgment or mistake of law or for any loss suffered by Adviser or by any Portfolio in connection with the performance of this Agreement, except a loss resulting from a breach of fiduciary duty with respect to the receipt of compensation for services or a loss resulting from willful misfeasance, bad faith or gross negligence on its part in the performance of its duties or from reckless disregard by it of its obligations or duties under this Agreement.


     9. Duration and
Termination. This Agreement will become effective as of the date hereof and,
unless sooner terminated with respect to a Portfolio as provided herein, shall
continue in effect with respect to the Portfolios until March 31, 2012.
Thereafter, if not terminated, this Agreement shall continue in effect with
respect to the Portfolios for successive annual periods ending on March 31,
provided such continuance is specifically approved at least annually (a)
by the vote of a majority of those members of the Fund’s Board of Trustees
who are not interested persons of any party to this Agreement, cast in person at
a meeting called for the purpose of voting on such approval, and (b) by the
Fund’s Board of Trustees or by a vote of a majority of the outstanding
voting securities of each Portfolio. Notwithstanding the foregoing, this
Agreement may be terminated with respect to each Portfolio at any time, without
the payment of any penalty, by the Fund (by vote of the Fund’s Board of
Trustees or by vote of a majority of the outstanding voting securities of such
Portfolio), or by Adviser or Sub-Adviser on sixty days’ written notice, and
will terminate automatically upon any termination of the Advisory Agreement
between the Fund and Adviser. This Agreement will also immediately terminate in
the event of its assignment. (As used in this Agreement, the terms
“majority of the outstanding voting securities,” “interested
person” and “assignment” shall have the same meanings as such
terms in the 1940 Act.)


     10. Notices. Any notice under this Agreement shall be in writing to the other party at such address as the other party may designate from time to time for the receipt of such notice and shall be deemed to be received on the earlier of the date actually received or on the fourth day after the postmark if such notice is mailed first class postage prepaid.

     11. Amendment of this Agreement. No provision of this Agreement may be changed, waived, discharged or terminated orally, but only by an instrument in writing signed by the party against which enforcement of the change, waiver, discharge or termination is sought. Any amendment of this Agreement shall be subject to the 1940 Act.









     12. Miscellaneous. The captions in this Agreement are included for convenience of reference only and in no way define or delimit any of the provisions hereof or otherwise affect their construction or effect. If any provision of this Agreement shall be held or made invalid by a court decision, statute, rule or otherwise, the remainder of this Agreement shall not be affected thereby. This Agreement shall be binding on, and shall inure to the benefit of the parties hereto and their respective successors.

     13. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware for contracts to be performed entirely therein without reference to choice of law principles thereof and in accordance with the applicable provisions of the 1940 Act.

     14. Counterparts. This Agreement may be executed in counterparts by the parties hereto, each of which shall constitute an original counterpart, and all of which, together, shall constitute one Agreement.









     IN WITNESS WHEREOF, the parties hereto have caused this instrument to be executed by their officers designated below as of the day and year first above written.

			
	 	BLACKROCK ADVISORS, LLC
	 	 	 
	 	 	 
	 	By:	 
	 	 	
      

    
	 	 	Name:
	 	 	Title:
	 	 	 
	 	BLACKROCK INTERNATIONAL LIMITED
	 	 	 
	 	 	 
	 	By:	 
	 	 	
      

    
	 	 	Name:
	 	 	Title:













Appendix A


Portfolios and Sub-Advisory Fees