Document:

msci-ex1049_161.htm

 

Exhibit 10.49

*** 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.

WFNIA/CA SCA-11043

Schedule No. 11043 to the

Master Index License Agreement for Index Based Funds between

MSCI Inc. (“MSCI”) and

BlackRock Institutional Trust Company, N.A. (formerly, Barclays Global Investors, N.A.)

(“Licensee”)

dated as of March 18, 2000 (the “Agreement”)

Effective Date of this Schedule No. 11043 is September 1, 2010. This Schedule shall not be effective until signed by both parties.

	
I.
	
NAME OF THE INDEX(ES):

MSCI KLD Social 400 Index MSCI USA ESG Select Index

	
II.
	
DESCRIPTION OF THE FUND(S)

Licensee may use the Index and Marks solely with respect to the Fund(s) listed in this Schedule No. 11043.

The Fund(s) are to be issued, sold and traded on a public basis in accordance with the applicable rules of the exchange(s) below and all applicable securities laws, rules and regulations.

The Funds(s) shall be limited to: United States domestic unit trust shares, whose interests may be listed and traded on national securities exchanges or stock markets.

The Fund(s) shall be exchange traded. They must be listed and traded on a U.S. regulated securities exchange, automated quote system or other regulated U.S. securities market.

Neither the Agreement nor this Schedule gives Licensee the right to create or offer any futures, options or other derivatives based on the Indexes. Notwithstanding the foregoing, Licensee may hold futures, options or other derivative securities as constituent holdings of the Fund(s).

A copy of the relevant prospectus or offering document of the Fund(s) is attached hereto as Exhibit 1. The Fund(s) may not contain any share class other than those specified in the relevant prospectus or offering documents attached hereto.

 

 

A-1

 

 

Name and Detailed Description of the Fund(s):

iShares MSCI USA ESG Select Social Index Fund 

iShares MSCI KLD 400 Social Index Fund

Each of the funds seeks to provide exposure to the appropriate underlying index before fees and expenses.

Each Fund will be named or identified as indicated above. Licensee may not materially change the name or description of any of the Fund(s) above without the prior written consent of MSCI.

MSCI acknowledges and agrees that the Licensee marks are and will remain the exclusive property of Licensee, and that all goodwill that attaches to the Licensee marks as a result of their use in the Composite Marks will redound to the exclusive benefit of Licensee. Licensee acknowledges and agrees that the MSCI Marks are and will remain the exclusive property of MSCI, and that all goodwill that attaches to the MSCI Marks as a result of their use by Licensee including, without limitation, in the Composite Marks, will redound to the exclusive benefit of MSCI. The Composite Marks will be owned neither by Licensee nor MSCI. Neither party will register or apply for registration of the Composite Marks. Upon termination of this Schedule, neither party will have ownership of or the right to use the Composite Marks. However, the parties’ respective ownership rights will persist in the constituent MSCI Marks and Licensee Marks that together comprise the Composite Marks.

	
III.
	
LICENSE FEES:

If Licensee is the only ETF licensee in the United States for the specified index below, the following annual license fees will apply:

MSCI USA ESG Select Index

Licensee will pay an annual License Fee ***********.

MSCI KLD Social 400 Index

 

		
	
AUM of the Relevant Fund
	
Annual License Fee

	
***********

***********

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

***********

***********

 

For each index above, in the event that Licensee is not the sole licensee for ETFs in the United States based on the index, Licensee will pay an annual License Fee ***********.

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

For purposes of this Schedule, “AUM” shall mean a Fund’s average daily assets under management during the relevant period. “Expense Ratio” shall mean the amount of a Fund’s assets used to pay its expenses during a given time period, expressed as a percentage of the Fund’s average daily net assets over the same time period, including without limitation, the total management fee, rule 12b-1 fees (or the equivalent) and all other Fund expenses. A Fund’s Expense Ratio shall be the Fund’s “Total Fund Operating Expense” as published by a Fund for the relevant period. Notwithstanding anything to the contrary contained herein, ***********.

For purposes of clarity, the fees are calculated per Fund and not in aggregate.

	
IV.
	
SPECIAL CONDITIONS:

Licensee acknowledges and agrees that:

	
•
	
MSCI is the owner or licensor of the Services under this Schedule and all title and ownership rights in and to the Services, and all rights therein and legal protections with respect thereto, remain exclusively with

 

 

A-2

 

 

MSCI and/or its licensors, if any. Licensee will not challenge or contest, or assist any third party in challenging or contesting the validity of MSCI’s and/or its licensors’ rights in or to the Services.

	
•
	
The Services do not constitute an offer to sell (or a solicitation of an offer to buy), or a promotion or recommendation of, any security, financial product or other investment vehicle or any trading strategy, and MSCI and its affiliates and information and service providers for the Services do not endorse, approve or otherwise express any opinion regarding any issuer, security, financial product or instrument or trading strategy. The Services are not, and are not intended to constitute, investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.

IN WITNESS WHEREOF, the parties hereto have executed this Schedule No. 11043 as of the effective date set forth above.

 

						
	
MSCI Inc.
	
 
	
BlackRock Institutional Trust Company, N.A.

	
 
	
 
	
 
	
 
	
(formerly, Barclays Global Investors, N.A.)

	
 
	
 
	
 
	
 
	
 
	
 

	
By:
	
 
	
/s/ Paul Friedman
	
 
	
By:
	
/s/ GD Flynn

	
Name:
	
 
	
Paul Friedman
	
 
	
Name:
	
GD Flynn

	
Title:
	
 
	
Executive Director
	
 
	
Title:
	
MD

	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
BlackRock Institutional Trust Company, N.A. (formerly, Barclays Global Investors, N.A.)

	
 
	
 
	
 
	
 

	
 
	
 
	
By:
	
/s/ Mark Roberts

	
 
	
 
	
Name:
	
Mark Roberts

	
 
	
 
	
Title:
	
Director

 

 

 

A-3

 

 

EXHIBIT 1 TO SCHEDULE NO. 11043

[copy of relevant prospectus or offering document]

 

 

A-4

 

 

Exhibit B

DATA LICENSE

(document attached)msci-ex1050_160.htm

Exhibit 10.50

 

*** 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.

AMD_00292

Client Code/Reference No: WFNIA/CA

AMENDMENT 2

Date of Amendment: N ovember 19, 2010

AMENDMENT to the Index License Agreement for Funds (the “Agreement”), dated as of March 18, 2000, by and between MSCI Inc. (“MSCI”), a Delaware corporation, and Barclays Global Investors, N.A. (“Licensee”). Capitalized terms used herein but not otherwise defined herein shall have the meanings ascribed in the Agreement.

	
1.
	
Exhibit B is hereby amended to allow the Funds to be additionally listed and traded on the Chilean domiciled stock or securities exchanges (herein referred to as the “Chilean Listed Funds”). All Listed Funds must be issued, sold and traded on a public basis in accordance with the applicable Chilean securities law. All other terms and restrictions contained in Exhibit B shall apply to the Chilean Listed Funds. Notwithstanding anything to the contrary in Exhibit A, the Chilean Listed Funds may only be based on the following Indexes:

 

		
	
MSCI ACWI ex US Consumer Discretionary Sector Index

MSCI ACWI ex US Consumer Staples Sector Index

MSCI ACWI ex US Energy Sector Index

MSCI ACWI ex US Financials Index

MSCI ACWI ex US Health Care Sector Index

MSCI ACWI ex US Industrials Sector Index

MSCI ACWI ex US Information Technology Sector Index

MSCI ACWI ex US Materials Sector Index

MSCI ACWI ex US Telecommunications Services Sector Index

MSCIMM ACWI ex US Utilities Sector Index

MSCI All Country Asia ex Japan Index

MSCI All Country World

MSCI All Country World ex-US

MSCI All Peru Capped Index

MSCI Australia Index

***********

***********

MSCI Brazil Index

MSCI Brazil Small Cap Index

MSCI BRIC Index

MSCI Canada Index

MSCI Chile Investable Market Index

MSCIM China Small Cap Index

MSCI EAFE Index

MSCI EAFE Small Cap Index

MSCI Emerging Markets Eastern Europe Index

***********

MSCI Emerging Markets Index

***********

MSCI EMU Index
	
***********

***********

MSCI France Index

MSCI Germany Index

MSCI Hong Kong Index

***********

MSCI Ireland Capped Index

MSCI Israel Capped Investable Market Index

MSCI Italy Index

MSCI Japan Index

MSCI Malaysia Index

MSCIMM Mexico Investable Market Index

MSCI Netherland Investable Market Index

MSCI New Zealand Investable Market Index

MSCI Pacific ex-Japan Index

MSCI Philippines Investable Market Index

***********

MSCI Russia Capped Index

MSCI Singapore Index

MSCI South Africa Index

MSCI South Korea Index

MSCI Spain Index

***********

MSCI Switzerland Index

MSCI Taiwan Index

***********

***********

MSCI United Kingdom Index

***********

 

 

 

For the avoidance of doubt, the license fees set forth in the Agreement as amended, shall apply with respect to all Chilean Listed Funds. For clarity, there shall be no separate licensee fees for the Chilean Listed Funds but any additional assets from the Chilean Listed Funds shall be included in the average daily net assets of the applicable Funds for purposed of calculating license fees.

	
2.
	
Exhibit B is hereby further amended to allow the Funds to be additionally listed and traded on the Mexican domiciled stock or securities exchanges (herein referred to as the “Mexican Listed Funds”). All Listed Funds must be issued, sold and traded on a public basis in accordance with the applicable Mexican securities law. All other terms and restrictions contained in Exhibit B shall apply to the Mexican Listed Funds. Notwithstanding anything to the contrary In Exhibit A, the Mexican Listed Funds may only be based on the following Indexes:

1

 

 

 

		
	
MSCI ACWI ex US Consumer Discretionary Sector Index

MSCI ACWI ex US Consumer Staples Sector Index

MSCI ACWI ex US Energy Sector Index

MSCI ACWI ex US Financials Index

MSCI ACWI ex US Health Care Sector Index

MSCI ACWI ex US Index

MSCI ACWI ex US Industrials Sector Index

MSCI ACWI ex US Information Technology Sector Index

MSCI ACWI ex US Materials Sector Index

MSCI ACWI ex US Telecommunication Services Sector Index

MSCI ACWI ex US Utilities Sector Index

MSCI ACWI Index

MSCI All Country Asia ex Japan Index

MSCI All Peru Capped Index

MSCI Australia Index

MSCI Austria Investable Market Index

MSCI Belgium Investable Market Index

MSCI Brazil Index

MSCI Brazil Small Cap Index

MSCI BRIC Index

MSCI Canada Index

MSCI Chile Investable Market Index

MSCI China Small Cap Index

MSCI EAFE Growth Index

MSCI EAFE Index

MSCI EAFE Small Cap Index

MSCI EAFE Value Index

MSCI Emerging Markets Eastern Europe Index

MSCI Emerging Markets Index
	
MSCI EMU Index

MSCI France Index

MSCI Germany Index

MSCI Hong Kong Index

MSCI Indonesia Investable Market Index

MSCI Ireland Capped Investable Market Index

MSCI Israel Capped Investable Market Index

MSCI Italy Index

MSCI Japan Index

MSCI Japan Small Cap Index

MSCI Kokusai Index

MSCI Malaysia Index

MSCI Netherlands Investable Market Index

MSCI New Zealand Investable Market Index

MSCI Pacific ex-Japan Index

MSCI Philippines Investable Index

MSCI Poland Investable Market Index

MSCI Russia Cap Index

MSCI Singapore Index

MSCI South Africa Index

MSCI South Korea Index

MSCI Spain Index

MSCI Sweden Index

MSCI Switzerland Index

MSCI Taiwan Index

MSCI Thailand Investable Market Index

MSCI Turkey Investable Market Index

MSCI United Kingdom Index

MSCI USA Index

 

For the avoidance of doubt, the license fees set forth in the Agreement as amended, shall apply with respect to all Mexican Listed Funds. For clarity, there shall be no separate licensee fees for the Mexican Listed Funds but any additional assets from the Mexican Listed Funds shall be included in the average daily net assets of the applicable Funds for purposed of calculating license fees.

	
3.
	
This Amendment is intended to amend and operate in conjunction with the Agreement and together this Amendments 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. To the extent that any terms of this Amendment conflict with any terms of this Agreement, the terms of 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.

	
4.
	
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 law principles.

 

	
LICENSEE
	
 
	
MSCI INC.

	
By
	
/s/ Timothy M. Meyer
	
 
	
By
	
/s/ Paul E. Friedman

	
Name
	
Timothy M. Meyer
	
 
	
Name
	
Paul E. Friedman

	
 
	
(printed)
	
 
	
 
	
(printed)

	
Title
	
M. Director
	
 
	
Title
	
Executive Director

	
Date
	
December 1, 2010
	
 
	
Date
	
December 10, 2010

	
LICENSEE
	
 
	
 
	
 

	
By
	
/s/ Matthew R. Lewis
	
 
	
 
	
 

	
Name
	
Matthew R. Lewis
	
 
	
 
	
 

	
 
	
(printed)
	
 
	
 
	
 

	
Title
	
Director
	
 
	
 
	
 

	
Date
	
December 1, 2010
	
 
	
 
	
 

 

2

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