Document:

msci-ex1085_142.htm

 

Exhibit 10.85

 

*** INDICATES CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT THAT HAVE BEEN OMITTED PURSUANT TO ITEM 601(B) OF REGULATION S-K BECAUSE THE IDENTIFIED CONFIDENTIAL PORTIONS (I) ARE NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED.

 

A.N.: 130339 

AMD_00123218.0

 

BlackRock Institutional Trust Company, N.A. 

Attention: Tim Meyer

400 Howard Street

San Francisco, California 94105

 

March 18, 2014

Dear Mr. Meyer:

Reference is hereby made to the Amendment (MSCI reference: AMD_00105603.0) dated December 10, 2013 (“Amendment”) to the Index License Agreement for Funds dated March 18, 2000 (“Agreement”) 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”). All capitalized terms used but not defined herein shall have the meanings ascribed to them in the Amendment or the Agreement, as the case may be.

MSCI and Licensee hereby agree to modify the Amendment as follows:

	
 
	
1.
	
In Section 1 of the Amendment, the parties agree to add the following Indexes:

 

	
 
	
•
	
MSCI EMU 100% Hedged to USD Index

	
 
	
•
	
MSCI Emerging Markets 100% Hedged to USD Index

	
 
	
2.
	
In Section 2 of the Amendment, the parties agree to add the following Hedged ETFs:

	
 
	
•
	
iShares Currency Hedged MSCI EMU ETF

	
 
	
•
	
iShares Currency Hedged MSCI Emerging Markets ETF

	
 
	
3.
	
In the definition of ****************** in Section 3(a) of the Amendment, the parties agree to add the following ************** for the corresponding *********** specified below:

*******************

*******************

 

This letter modifies and operates in conjunction with the Amendment. Together this letter, the Amendment and the Agreement constitute the complete and exclusive statement of the agreement between the parties with respect to the subject matter hereof and supersede in full all prior proposals and understandings, oral or written, relating to such subject matter. To the extent that any terms of this letter conflict with any terms of the Amendment or the Agreement, the terms of this letter shall control. This letter 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.

Please indicate your agreement with the foregoing by countersigning and returning a copy of this letter. Very truly yours,

MSCI Inc.

 

	
By:
	
/s/ David Kinzelberg 

	
Name:
	
David Kinzelberg

	
Title:
	
Executive Director

 

ACCEPTED AND AGREED:

Black Rock Institutional Trust Company, N.A. 

 

	
By:
	
/s/ Paul C. Lohrey 

	
Name:
	
Paul C. Lohrey 

	
Title:
	
Managing Director

 

	
	
1/2msci-ex1088_4301.htm

 

Exhibit 10.88

 

Non-Employee Director Compensation(1)

 

		
	
Committee Chair

	
Audit Committee
	
$30,000

	
Compensation and Talent Management Committee
	
$25,000

	
Strategy and Finance Committee
	
$25,000

	
Nominating and Corporate Governance Committee
	
$20,000

	
Committee Member

	
Audit Committee
	
$10,000

	
Compensation and Talent Management Committee
	
$10,000

	
Strategy and Finance Committee
	
$10,000

	
Nominating and Corporate Governance Committee
	
$10,000

	
Annual Compensation

	
Annual Cash Retainer
	
$80,000

	
Annual Restricted Stock Units (non-Lead Director)(2)
	
$165,000

	
Annual Restricted Stock Units (Lead Director) (2)
	
$215,000

 

(1) Each Board term commences on May 1st of the then-current year and concludes on April 30th of the following year. Accordingly, retainer fees are paid and restricted stock units are granted on May 1st of each year. Restricted stock units vest on the first anniversary of the grant date.  Awards are prorated and vesting schedules adjusted for new directors joining in advance of the Annual Shareholders’ Meeting.

(2) The aggregate fair market value of the restricted stock units is based on the closing price of MSCI Inc.’s common stock as reported by The New York Stock Exchange on the date prior to the date of grant.

Members of the Board of Directors are subject to the Non-Employee Director Stock Ownership Guidelines, which are described in the MSCI Inc. Corporate Governance Policies available on the Investor Relations section of MSCI website’s (http://ir.msci.com). Information contained on our website is not deemed part of or incorporated by reference into this Annual Report on Form 10-K or any other report filed with the SEC. Additional information regarding MSCI Inc.’s non-employee director compensation program is available in its proxy statement for its annual meeting of shareholders.msci-ex1089_141.htm

 

Exhibit 10.89

*** INDICATES CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT THAT HAVE BEEN OMITTED PURSUANT TO ITEM 601(B) OF REGULATION S-K BECAUSE THE IDENTIFIED CONFIDENTIAL PORTIONS (I) ARE NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED.

 

A.N.:130339 

AMD_00134673.0

 

AMENDMENT

 

Date of Amendment: July 9, 2014

This 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 Emerging Markets Horizon Index

Or such other index(es) 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 Fund. This fund shall also be a “Fund” as such term is defined in the Agreement:

	
 
	
•
	
iShares MSCI Emerging Markets Horizon ETF

Or such other name(s) as agreed by Licensee and MSCI in writing.

 

The iShares MSCI Emerging Markets Horizon ETF 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 for the Fund based on the Fund’s

********************************** ***********, which fee shall be due and payable on a

************************. The ********* license fee shall be calculated

********************************************************************************************************

********************************************************************************************************, as follows:

*********************

***********************

*********************

 

For the avoidance of doubt, the ********* license fees shall be calculated *************. For example,

***********************************************************************************************************

***********************************************************************************************************

***********************************************************************************************************

***********************************************************************************************************

***********************************************************************************************************.

 

 

	
	
1/2

 
 

 

 

 

“Expense Ratio” shall mean the ********************************* obtained when dividing

***********************************************************************************************************

***********************************************************************************************************

**************************** *************.

 

Notwithstanding anything to the contrary contained herein, if any Fund does not have an ************* or if a Fund’s

********************************** or if a Fund has an *********************, the ********* licensee fee for such Fund shall equal

***********************************************************************************.

 

	
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 expect as expressly provided in the Agreement and this Amendment.

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 iShares MSCI Emerging Markets Horizon ETF that is based on the MSCI Emerging Markets Horizon Index.

c.If Licensee delists the iShares MSCI Emerging Markets Horizon ETF, or changes the underlying Index for the iShares MSCI Emerging Markets Horizon ETF, Licensee’s right to use the relevant Index set forth in Section 1 with respect to such iShares MSCI Emerging Markets Horizon ETF shall automatically and immediately terminate.

d.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.

 

	
ACKNOWLEDGED AND AGREED:
	
 
	
 

	
 
	
 
	
 

	
LICENSEE: BlackRock Fund Advisors
	
 
	
 

	
 
	
 
	
MSCI Inc.

	
 
	
 
	
 
	
 

	
By
	
/s/ Ravi Goutam
	
 
	
By
	
/s/ David Kinzelberg

	
 
	
 
	
 
	
 
	
 

	
Name
	
Ravi Goutam
	
 
	
Name
	
David Kinzelberg

	
 
	
 
	
 
	
 
	
 

	
Title
	
Managing Director
	
 
	
Title
	
Executive Director

	
 
	
 
	
 
	
 
	
 

	
Date
	
 
	
 
	
Date
	
August 8, 2014

 

	
	
2/2msci-ex1090_140.htm

 

Exhibit 10.90

 

*** INDICATES CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT THAT HAVE BEEN OMITTED PURSUANT TO ITEM 601(B) OF REGULATION S-K BECAUSE THE IDENTIFIED CONFIDENTIAL PORTIONS (I) ARE NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED.

A.N.:130339 

AMD_00133694.0

AMENDMENT

 

Date of Amendment: July 16, 2014

This AMENDMENT (the “A   mendment”) 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 China A International Index

Or such other index(es) 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 Fund. This fund shall also be a “Fund” as such term is defined in the Agreement:

	
 
	
•
	
iShares MSCI China A ETF

Or such other names(s) as agreed by Licensee and MSCI in writing.

The iShares MSCI China A ETF 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 for the Fund based on the Fund’s

*********************************************, which fee shall be due and payable on a ************************. The

********* license fee shall be calculated ***************************************************************

****************************************************************************************************

**********************************, as follows:

 

*********************

**********************

*********************

 

For the avoidance of doubt, the ********* license fees shall be calculated *************. For example,

****************************************************************************************************************

****************************************************************************************************************

****************************************************************************************************************

****************************************************************************************************************

******************************************************************.

 

 

1/2

 

 

“Expense Ratio” shall mean the ********************************* obtained when dividing

*****************************************************************************************************

*****************************************************************************************************

*****************************************************.

Notwithstanding anything to the contrary contained herein, if any Fund does not have an ************* or if a Fund’s

************* cannot be calculated or if a Fund has an ************* of zero, 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 Amendment.

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 iShares MSCI China A ETF that is based on the MSCI China A International Index.

c.If Licensee delists the iShares MSCI China A ETF, or changes the underlying Index for the iShares MSCI China A ETF, Licensee’s right to use the relevant Index set forth in Section 1 with respect to such iShares MSCI China A ETF shall automatically and immediately terminate.

d.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.

 

							
	
ACKNOWLEDGED AND AGREED
	
 
	
 

	
LICENSEE: BlackRock Fund Advisors
	
 
	
MSCI INC.

	
By
	
/s/ Ravi Goutam
	
 
	
 
	
By
	
/s/ David Kinzelberg
	
 

	
Name
	
Ravi Goutam
	
 
	
Name
	
David Kinzelberg

	
Title
	
Managing Director
	
 
	
Title
	
Executive Director

	
Date
	
 
	
 
	
Date
	
Aug 7, 2014

 

 

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