Document:

EX-10.119

 Exhibit 10.119 

 

			
	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_00178569.0

 AMENDMENT 

Date of Amendment: August 3, 2015 
 AMENDMENT (this
“Amendment”) to the Index License Agreement for Funds (internal MSCI reference: IXF_00040) dated as of March 18, 2000 (the “Agreement”) 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, NA.) (“Licensee”). 

The parties acknowledge that the Agreement was previously amended by, among other amendments, that certain Amendment (internal MSCI reference: AMD_00135107.0)
dated as of August 15, 2014 (the “Previous Amendment”). This Amendment shall supplement and operate in conjunction with the Previous Amendment. Capitalized terms used but not defined in this Amendment shall have the meanings
ascribed to them in the Agreement or the Previous Amendment, as the case may be. 
  

	1.	Exhibit A of the Agreement is hereby amended to add the following Indexes: 

  

	 	•	 	MSCI Europe Small Cap 100% Hedged to USD Index 

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

	2.	Licensee may use the Indexes set forth in Section 1 above solely with respect to the following Funds (each, a “Hedged ETF” and each Hedged ETF shall also be a “Fund” as such term is
defined in the Agreement): 

  

	 	•	 	iShares Currency Hedged MSCI Europe Small-Cap ETF 

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

	3.	Fees payable with respect to the Hedged ETFs: 

 a. Definitions: 

As used in this Amendment, the following terms shall have the meanings set forth below: 

“Un-Hedged ETF” means, for each ***********, the *********************************************** set forth in the following table: 

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

************************** 
 “Expense
Ratio” means the ***********. obtained when dividing ************************************* 

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

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

****************************. 
 “AUM” means the
******************************************************* *********************************. 
 “Reinvested AUM” means, for each
*************************************** ******************************************************************************************************. 
  

  
 1 

 A.N.: 130339 

AMD_00178569.0 
 “Unreinvested
AUM” means, for each *********************************************** *********************************************************************************************. 

For the avoidance of doubt, the total of the *********** and the *********** of any *********** during any relevant period must equal the total
*****************************************. 
  

	b.	Calculation of Fees: 

 Each *********** during the term, and for each ***********, Licensee shall pay to
MSCI the *********** set forth to the table below ******************* *********************************************************. 

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

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

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

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

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

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

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

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

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

For the avoidance of doubt, there shall be no *********** fees due or payable under the ***********with respect to the ***********or the ***********. 

 

	c.	Reporting: 

 Within *********** days of the end of each *********** Licensee shall report to MSCI
(i) the AUM, the ******************************************************************************************* 

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

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

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

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

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

 

	4.	Special Conditions: 

  

	a.	To the extent that this Amendment conflicts with the Agreement or the Previous Amendment, this Amendment shall control. No right or license of any kind is granted to Licensee except as expressly provided in the
Agreement, the Previous Amendment and this Amendment. 

  

	b.	MSCI may terminate this Amendment with respect to any Index set forth in Section 1 if, within one (1) year of the date of this Amendment, Licensee does not list a Hedged ETF that is based on such Index.

  

	c.	If Licensee delists any Hedged ETF or changes the underlying Index for such Hedged ETF, Licensee’s right to use the relevant Index set forth in Section 1 with respect to such Hedged 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. 

  
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 A.N.: 130339 

AMD_00178569.0 
  

									
	ACKNOWLEDGED AND AGREED	 		 	
			
	LICENSEE: BlackRock Fund Advisors	 		 	MSCI INC.
					
	By	 	/s/ Manish Mehta	 		 	By	 	/s/ Alex Gil
	Name	 	Manish Mehta	 		 	Name	 	Alex Gil
	Title	 	Managing Director	 		 	Title	 	Executive Director
					
	Date	 	September 25, 2015	 		 	Date	 	Nov 12, 2015

  
 3EX-10.120

 Exhibit 10.120 

 

			
	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_00178932.0

 BlackRock Fund Advisors 

Attention: Jenni Lee 
 400 Howard Street 

San Francisco, California 94105 
 August 3,
2015 
 Dear Jenni: 
 Reference is hereby made to the Amendment
(MSCI reference: AMD_00135107.0) dated August 15, 2014 (the “Amendment”) to the Index License Agreement for Funds (MSCI reference number IXF_00040) dated March 18, 2000 (the “Agreement”) 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”). 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 as follows: 
  

	1.	Effective commencing on August 3, 2015, the definition of “Expanded AUM” set forth in the Amendment shall be deleted and replaced with the following: 

“Expanded AUM” means, for any applicable period, the amount (if any) by which
************************************************************************************. 
  

	2.	Effective commencing on August 3, 2015, the following two definitions shall be added to Section 3 of the Amendment: 

“Qualified AUM” means, for any applicable period, an amount equal to ************************************************. 

“Reinvested AUM” means, for any applicable period, that *********** which is directly or indirectly
************************************************************************************************* 
 ************************************.

  

	3.	Effective commencing on August 3, 2015, the following paragraph shall be added to Section 3 of the Amendment: 

Within *********** days of the end of each *********** Licensee shall provide to MSCI a
****************************************************************************************************** 

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

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

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

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. 

  
 1 

 A.N.: 130339 

AMD_00178932.0 
 Please indicate your agreement
with the foregoing by countersigning and returning a copy of this letter. 
 Very truly yours, 

MSCI Inc. 
  

			
	By:	 	/s/ Alex Gil
	Name:	 	Alex Gil
	Title:	 	Executive Director

 ACCEPTED AND AGREED: 
 BlackRock
Fund Advisors 
  

			
	By:	 	/s/ Manish Mehta
	Name:	 	Manish Mehta
	Title:	 	Managing Director

  
 2

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