Document:

msci-ex10121_207.htm

 

Exhibit 10.121

 

*** 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_00184380.0

BlackRock Fund Advisors

Attention: Jenni Lee

400 Howard Street

San Francisco, California 94105 

October 9, 2015

Dear Jenni:

Reference is hereby made to the Amendment (MSCI reference: AMD_00151505.0) dated April 20, 2015 (“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 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 to modify the Amendment as follows:

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

	
 
	
•
	
MSCI USA Energy Diversified Multiple-Factor Capped Index

	
 
	
•
	
MSCI USA Materials Diversified Multiple-Factor Capped Index

	
 
	
•
	
MSCI USA Industrials Diversified Multiple-Factor Capped Index

	
 
	
•
	
MSCI USA Consumer Discretionary Diversified Multiple-Factor Capped Index

	
 
	
•
	
MSCI USA Consumer Staples Diversified Multiple-Factor Capped Index

	
 
	
•
	
MSCI USA Health Care Diversified Multiple-Factor Capped Index

	
 
	
•
	
MSCI USA Financials Diversified Multiple-Factor Capped Index

	
 
	
•
	
MSCI USA Information Technology Diversified Multiple-Factor Capped Index

	
 
	
•
	
MSCI USA Utilities Diversified Multiple-Factor Capped Index

	
2.
	
In Section 2 of the Amendment, the parties agree to add the following Multi-Factor ETFs:

	
 
	
•
	
iShares FactorPlus MSCI Energy ETF

	
 
	
•
	
iShares FactorPlus MSCI Materials ETF

	
 
	
•
	
iShares FactorPlus MSCI Industrials ETF

	
 
	
•
	
iShares FactorPlus MSCI Consumer Discretionary ETF

	
 
	
•
	
iShares FactorPlus MSCI Consumer Staples ETF

	
 
	
•
	
iShares FactorPlus MSCI Health Care ETF

	
 
	
•
	
iShares FactorPlus MSCI Financials ETF

	
 
	
•
	
iShares FactorPlus MSCI Information Technology ETF

	
 
	
•
	
iShares FactorPlus MSCI Utilities ETF

	
3.
	
In Section 2 of the Amendment, the parties agree to add the following sentence:

If any ***********, for any of the Multi-Factor ETFs refer to ***********, Licensee shall

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

******************************************************. For the avoidance of doubt, the parties acknowledge that the

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

This letter modifies and operates in conjunction with the Amendment. Together this letter, the Amendment and the Agreement constitute 

 

A.N.: 130339 

AMD_00184380.0

 

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/ 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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7msci-ex10122_173.htm

 

Exhibit 10.122

 

*** 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_00190103.0

BlackRock Fund Advisors, a California corporation Attention: Jenni Lee

400 Howard Street

San Francisco, California 94105

 

December 17, 2015

 

Dear Ms. Lee:

Reference is hereby made to the Amendment (MSCI reference: AMD_00105603.0) dated December 10, 2013 (as amended from time to time, the “Amendment”) to the Index License Agreement for Funds (internal MSCI reference: IXF_00040) dated March 18, 2000 (“Agreement”) by and between MSCI Inc. (formerly known as Morgan Stanley Capital International Inc.) (“MSCI”) and BlackRock Fund Advisors, a California corporation (formerly known as Barclays Global Investors, NA.) (“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 further modify the Amendment as follows:

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

	
 
	
•
	
MSCI EAFE Adaptive Hedge to USD Index

	
 
	
•
	
MSCI EMU Adaptive Hedge to USD Index

	
 
	
•
	
MSCI Japan Adaptive Hodge to USD Index

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

	
 
	
•
	
iShares Adaptive Currency Hedged MSCI EAFE ETF

	
 
	
•
	
iShares Adaptive Currency Hedged MSCI Eurozone ETF

	
 
	
•
	
iShares Adaptive Currency Hedged MSCI Japan ETF

	
3.
	
In the definition of “***********” in Section 3(a) of the Amendment, the parties agree to add the following *********** for the

*********** specified below:

 

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

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

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

 

	
4.
	
The parties agree to add a new Section 3(d) to the Amendment, as follows:

d.Investments by more than one *********** into the same ***********:

For the avoidance of doubt, if more than one ********************************************, then the *********** fees for *********** shall be calculated by **********************************************************************

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

Notwithstanding the foregoing, if the ****************************************************************** for any reason in any ***********, or if any *********** ceases to exist or to be subject to the terms of the

********************************************* for any reason in any ***********, then the fees for each

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

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

 

A.N.: 130339 

AMD_00190103.0

 

 

1/2

 

 

 

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 to me. 

Very truly yours,

 

	
MSCI Inc.

	
 
	
 
	
 

	
By:
	
 
	
/s/ Joke Jacinto

	
 
	
 
	
 

	
Name:
	
 
	
Joke Jacinto

	
 
	
 
	
 

	
Title:
	
 
	
Vice President

	
 
	
 
	
 

	
 
	
 
	
ACCEPTED AND AGREED:

	
 
	
 
	
 

	
 
	
 
	
BlackRock Fund Advisors, a California corporation

	
 
	
 
	
 

	
By:
	
 
	
/s/ Paul C. Lohrey

	
 
	
 
	
 

	
Name:
	
 
	
Paul C. Lohrey

	
 
	
 
	
 

	
Title:
	
 
	
Managing Director

 

 

2/2msci-ex10127_196.htm

 

Exhibit 10.127

 

*** 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_00187225.0

AMENDMENT

Date of Amendment: January 28, 2016

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 ACWI Sustainable Impact Index

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

	
2.
	
Licensee may use the Index set forth in Section l above solely with respect to the following Licensee fund (the “Impact Investing ETF,” which shall also be a “Fund” as such term is defined in the Agreement):

	
 
	
•
	
iShares MSCI Global Impact ETF

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

The Impact Investing 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 based on * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *, which fee shall be calculated and payable on a * * * * * * * * * * * * * * *. The * * * * * * * * * license fee shall be calculated * * * * * * * ** * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *, as follows:

 

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

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

 

 

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

Notwithstanding anything to the contrary contained herein, if the Fund * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * or if the Fund’s * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * or if the Fund 

 

A.N.:  130339

AMD_00187225.0

 

has an * * * * * * * * * * * * * * * * * * * * *, the * * * * * * * * * licensee fee for the 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 Index set forth in Section I if, within one (1) year of the date of this Amendment, Licensee does not list the Impact Investing ETF that is based on such Index.

	
 
	
c.
	
If Licensee delists the Impact Investing ETF or changes the underlying index for the Impact Investing ETF, Licensee’s right to use the Index set forth in Section 1 with respect to the Impact Investing 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.

	
 
	
e.
	
MSCI shall not * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * any exchange traded fund listed in * * * * * * * * * * * * * * * * * that is based on * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * ** * * * * * * * * * * * * * * * * * * * * * * * * * ** * on which Licensee * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *. Notwithstanding the foregoing, at any time after * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * that is based on * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *.

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
	
2/4/2016
	
 
	
Date
	
Mar 1, 2016

 

2

 

Information Classification: GENERAL

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