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**DEFERRED COMPENSATION PLAN**

(Amended and restated, effective as of March21, 2013)

**TABLE OF CONTENTS**

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**1. DEFINITIONS**

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	1.1.	Administrator. An individualdesignated by CRMC to process forms and receive Plan related communications from Plan Participants and otherwise assist the Committeein the administration of the Plan.

 

	1.2.	Beneficiary(ies). The personor persons last designated in writing by a Plan Participant in accordance with procedures established by the Committee to receivethe amounts payable under the Plan in the event of the Plan Participant’s death. A Plan Participant may designate a *PrimaryBeneficiary(ies)*to receive amounts payable under the Plan upon the Plan Participant’s death. A Plan Participant mayalso name a *Contingent Beneficiary(ies)* to receive amounts payable under the Plan upon the Participant’s death ifthere is no surviving Primary Beneficiary(ies).

 

	1.3.	Board(s). The Board of Directorsor Trustees of a Fund(s).

 

	1.4.	Committee. A group of IndependentBoard Members responsible for oversight and operation of the Plan. The Committee must consist of a minimum of three members, eachcurrently serving as an Independent Board Member of at least one Fund. Each Fund, by the affirmative vote of at least a majorityof its Board (including a majority of the Fund’s Independent Board Members) shall appoint the initial members of the Committee.Thereafter, the Committee shall determine its membership by majority vote.

 

	1.5.	CRMC. Capital Research andManagement Company.

 

	1.6.	Date of Crediting.

 

	1.7.	Deferred Payment Account(s).An account established in the name of the Plan Participant on the books of each Fund serviced by the Plan Participant. Such accountshall reflect the number of Phantom Shares credited to the Plan Participant under the Plan.

 

	1.8.	Disabledor Disability. A Plan Participant is disabled when he or she is unable to engage in any substantial gainful activity by reasonof any medically determinable physical or mental impairment which can be expected to result in death or can be expected to lastfor a continuous period of not less than 12 months.

	1.9.	Election Forms. The threeforms listed below as prescribed by the Administrator:

 

	1.10.	Fixed Dollar Installment Method.One of the two alternative methods to a lump-sum available for payments under the Plan other than for reasons of death, Disabilityor Unforeseeable Emergency. The amount of each installment shall equal the fixed dollar amount previously selected by the PlanParticipant on the Deferral Election Form. A Plan Participant’s Deferred Payment Account subject to the Fixed Dollar Installmentmethod shall be adjusted by the amount of each such installment payment by reducing the number of Phantom Shares of each Fund creditedto the Deferred Payment Account using the net asset values per Class A share as of the last day of the calendar quarter immediatelypreceding the date of payment. These reductions shall occur proportionately so that, with respect to each such Fund, the ratioof the value of all Phantom Shares of the Fund to the value of the Deferred Payment Account shall remain the same before and aftereach installment payment.

 

	1.11.	Fund(s). A mutual fund advisedby CRMC, collectively the “Funds.”

 

	1.12.	Independent Board Member(s).Directors or trustees, and as applicable, advisory board members and director or trustee emeriti who are not considered “interestedpersons” of any Participating Fund.

 

	1.13	Money Market Fund. Amutual fund managed by CRMC that invests solely in money market instruments and seeks to maintain a constant net asset value.

 

	1.14.	Participating Funds. Mutualfunds managed by CRMC that have adopted the Plan.

 

	1.15.	Permissible Payment Event.A Permissible Payment Event is any one of the following:

 

	1.16.	Phantom Shares. Fictionalshares of the Fund(s) that a Plan Participant has selected on the Rate of Return Election Form that have been credited to his orher Deferred Payment Account(s). Phantom Shares shall have the same economic characteristics as actual Class A shares in termsof mirroring changes in net asset value and reflecting corporate actions (including, without limitation,

receipt of dividends and capital gains distributions).However, because Phantom Shares are fictional, they shall not entitle any Plan Participant to vote on matters of any sort, includingthose affecting the Funds.

 

	1.17.	Plan or Deferred CompensationPlan. The deferred compensation plan adopted by the Participating Funds.

 

	1.18.	Plan Participant(s). AnIndependent Board Member who has elected to defer compensation under the Plan, or is receiving payments under the Plan in respectof prior service as an Independent Board Member.

 

	1.19.	Unforeseeable Emergency.The following events may constitute an Unforeseeable Emergency under the Plan: (i) severe financial hardship of the Plan Participantor his or her Beneficiary(ies) resulting from illness or accident of the Plan Participant or Beneficiary(ies) and such spousesor dependents of the Plan Participant or Beneficiary(ies); (ii) loss of the Plan Participant’s or Beneficiary(ies)’property due to casualty or (iii) similar extraordinary unforeseeable circumstances beyond the control of the Plan Participantor the Beneficiary(ies). The Committee, in its sole discretion, will determine if the Plan Participant has an Unforeseeable Emergency,after taking into account the extent to which such Unforeseeable Emergency is or may be relieved through reimbursement or compensationby insurance or otherwise or by liquidation of the Plan Participant's assets (to the extent the liquidation of such assets wouldnot itself cause an Unforeseeable Emergency).

 

	1.20.	Variable Dollar InstallmentMethod. One of the two alternative methods to a lump-sum available for payments under the Plan other than for reasons of death,Disability or Unforeseeable Emergency. The amount of each installment shall be determined for a Deferred Payment Account by multiplyingthe number of Phantom Shares of a Fund(s) allocated to the Deferred Payment Account by a fraction, the numerator of which shallbe one and the denominator of which shall be the then remaining number of unpaid installments (including the installment then tobe paid), and multiplying the resulting number of Phantom Shares by the net asset value per Class A share of such Fund(s) as ofthe last day of the calendar quarter immediately preceding the date of payment. A Plan Participant’s Deferred Payment Accountsubject to the Variable Dollar Installment method shall be adjusted by the amount of each such installment payment by reducingthe number of Phantom Shares of each Fund credited to the Deferred Payment Account. These reductions shall occur proportionatelyso that, with respect to each such Fund, the ratio of the value of all Phantom Shares of the Fund to the value of the DeferredPayment Account shall remain the same before and after each installment payment. For this purpose, net asset values per Class Ashare as of the last day of the calendar quarter immediately preceding the date of payment shall be used in calculating pre- andpost-payment values.

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**2. INTRODUCTION**

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With effect on January 1,2005, each Participating Fund has adopted, by the affirmative vote of at least a majority of its Board (including a majority ofits Board members who are not interested persons of the mutual fund), this Plan for Independent Board Members.

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**3. PLAN OVERSIGHT; ADMINISTRATIONAND AMENDMENT**

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	3.1.	Plan Oversight and Operation.The Committee shall enforce the Plan in accordance with its terms, shall be charged with the general administration of the Plan,and shall have all powers