Document:

msci-ex10204_806.htm

 

Exhibit 10.204

 

AMD_00256606.0

THIS AMENDMENT (this “Amendment”) dated as of March 1, 2019 (the “Amendment Effective Date”) is made to the Previous Amendment (as defined below) 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 Previous Amendment or the Agreement (as defined below), as the case may be.

WHEREAS, MSCI and Licensee entered into the Amendment (internal MSCI reference number: ADD_01420) dated as of December 15, 2009 (the “Previous Amendment”), which amends the Index License Agreement for Funds (internal MSCI reference number: IXF_00040) dated as of March 18, 2000 (the “Agreement”) by and between MSCI and Licensee; and

WHEREAS, on a date which is expected to occur on or about May 31, 2019 (the “Conversion Date”), Licensee and MSCI wish to replace MSCI Indonesia Investable Market Index with MSCI Indonesia IMI 25/50 Index as the underlying index for iShares MSCI Indonesia ETF.

NOW, THEREFORE, in consideration of the mutual covenants set forth herein, each of MSCI and Licensee hereby agree to amend the Previous Amendment as follows:

	
1.
	
Commencing on the Conversion Date, Section 1 of the Previous Amendment is hereby amended so that all references to the “MSCI Indonesia Investable Market Index” shall be deleted and replaced with the following index: “MSCI Indonesia IMI 25/50 Index.”

	
2.
	
This Amendment amends and operates in conjunction with the Previous Amendment.  This Amendment, the Previous 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 the terms of this Amendment conflict with the terms of the Previous Amendment, or the Agreement, the terms of this Amendment shall control.

	
3.
	
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.

	
4.
	
This Amendment may be executed in counterparts, which taken together, shall constitute one Amendment and each party hereto may execute this Amendment by signing such counterpart; provided that no party shall be bound hereby until the Amendment has been executed and delivered by all parties hereto.  A facsimile or PDF signature of either party to this Amendment shall be deemed an original signature of such party and shall manifest such party’s intention to be bound by this Amendment.

IN WITNESS WHEREOF, the parties have caused this Amendment to be executed as of the Amendment Effective Date set forth above.

 

	
MSCI Inc.
	
 
	
BlackRock Fund Advisors

	
 
	
 
	
 
	
 
	
 

	
By
	
/s/ Alex Gil
	
 
	
By
	
/s/ Ruth Weiss

	
 
	
 
	
 
	
 
	
 

	
Name
	
Alex Gil
	
 
	
Name
	
Ruth Weiss

	
 
	
 
	
 
	
 
	
 

	
Title
	
Executive Director
	
 
	
Title
	
Managing Director

 

1msci-ex10205_805.htm

 

Exhibit 10.205

 

***** 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_00257453.0

AMENDMENT

Date of Amendment: April 1, 2019

AMENDMENT to the Index License Agreement for Funds (internal MSCI reference IXF_00040) dated as of March 18, 2000 (as amended, the “Agreement”) by and between MSCI Inc. (formerly known as Morgan Stanley Capital International Inc.) (“MSCI”) and BlackRock Fund Advisors (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.

WHEREAS, pursuant to the terms of the Amendment (internal MSCI reference AMD_00208225.0) between MSCI and Licensee dated June 15, 2016 (the “Previous Amendment”), MSCI granted Licensee the right to use the MSCI index identified below as the basis for the Licensee Fund identified below: 

	
 
	
•
	
iShares MSCI USA ESG Optimized ETF, which seeks to track the investment results of the MSCI USA ESG Focus Index

WHEREAS, pursuant to the terms of the Amendment (internal MSCI reference AMD_00243265.0) between MSCI and Licensee dated May 15, 2018, MSCI and Licensee mutually agreed to replace the MSCI Index name with the following: 

	
 
	
•
	
MSCI USA Extended ESG Focus Index

WHEREAS, pursuant to the terms of the Amendment (internal MSCI reference AMD_00250009.0) between MSCI and Licensee dated September 1, 2018, MSCI and Licensee mutually agreed to replace the Fund name with the following: 

	
 
	
•
	
iShares ESG MSCI USA ETF

(The term “Fund” as used herein shall have the meaning ascribed to it in the Previous Amendment)

WHEREAS, the parties wish to further amend the Agreement to allow for the cross‐listing of the Licensee Fund identified above, as set forth below.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

	
1.
	
Exhibit B of the Agreement is hereby amended to allow the Licensee Fund identified above to be listed and traded on the Mexican Stock Exchange (Bolsa Mexicana de Valores) (herein referred to as the “Mexican Listed Fund”) after such Fund is listed on a United States exchange.  The Mexican Listed Fund must be issued, sold and traded on a public basis in accordance with applicable Mexican securities law.  All other terms and restrictions contained in Exhibit B of the Agreement shall apply to the Mexican Listed Fund.  For the avoidance of doubt, the ************ set forth in the Previous Amendment shall apply with respect to ***********************.  For clarity, ************ *****  **********  ************ **.

	
2.
	
This Amendment is intended to amend and operate in conjunction with the Agreement and together this Amendment 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 the Agreement, the terms of 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.

1

 

 

	
3.
	
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. 

 

	
LICENSEE: BlackRock Fund Advisors
	
 
	
MSCI Inc.

	
 
	
 
	
 
	
 
	
 

	
By
	
/s/ Ruth Weiss
	
 
	
By
	
/s/ Alex Gil

	
 
	
 
	
 
	
 
	
 

	
Name
	
Ruth Weiss
	
 
	
Name
	
Alex Gil

	
 
	
(printed)
	
 
	
 
	
(printed)

	
Title
	
Managing Director
	
 
	
Title
	
Executive Director

	
 
	
 
	
 
	
 
	
 

 

2msci-ex10206_804.htm

 

Exhibit 10.206

 

***** 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_00251610.0

 

AMENDMENT

 

Date of Amendment: April 1, 2019 

 

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 Indexes:

 

	
 
	
•
	
MSCI Japan Investable Market Index

	
 
	
•
	
***************************************

 

or such other indexes 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 Licensee funds:

 

	
 
	
•
	
iShares MSCI Japan IMI ETF ********************

	
 
	
•
	
*************************************************************

 

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

 

The ************ and the ********** may be referred to collectively as the “Funds.”  The Funds shall be exchange traded index funds listed on a national securities exchange located in the United States.

 

	
3.
	
License Fees: 

 

	
a.
	
********* License Fees: 

 

The license fees set forth herein shall be calculated and payable on *****************.  During each ******** ******* and for ****************************, Licensee shall pay ********* license fees calculated in accordance with the ***********, subject to *********************:

 

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

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

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

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

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

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

 

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

 

“Expense Ratio” means the ratio (expressed as a percentage) obtained when dividing ********************* ***************************************** by *************.

 

Notwithstanding anything to the contrary, if during any relevant period any Fund ************************ ***** or ************************************************ or if any Fund has an ***************.

1

 

 

	
b.
	
Calculation of ********* License Fees to *************************: 

 

The ********* license fees for the ********** shall be determined by ******************************* **************************.

 

Except for the addition of the ******************************************************** during any applicable period, the calculation of ********* license fees payable in accordance *********************** shall ****************.  All ********* license fees with respect to the ************************* shall be due and payable in accordance ************************************.

 

For the avoidance of doubt, there shall be *******************************************************  ***********************************************.  By way of explanation, the parties believe that  *******************************.

 

The parties acknowledge and agree that ******************************************************* *********************************************************************************.

 

******************* ceases to exist or to be subject to the terms of this Amendment or any successor agreement for any reason in any ****************, then, notwithstanding anything to the contrary, *******.

 

	
c.
	
Reporting: 

 

On a ********* basis, Licensee shall report to MSCI (i) *********************************** ********************************** and (ii) ***************************. For the avoidance of doubt, if the inception date or the termination date of any of the Funds is any day other than the first day or last day (respectively) of ******************, then, in order to align any relevant payment schedule with *** ****************, the ********* license fees ******************.

 

	
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 any Index set forth in Section 1 if, within one (1) year of the date of this Amendment, Licensee does not list the applicable Fund that is based on such Index.

 

	
c.
	
If Licensee delists any of the Funds or changes the underlying Index for any of the Funds, Licensee’s right to use the relevant Index set forth in Section 1 with respect to such Funds 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/ Ruth Weiss
	
 
	
By
	
/s/ Alex Gil

	
 
	
 
	
 
	
 
	
 

	
Name
	
Ruth Weiss
	
 
	
Name
	
Alex Gil

	
 
	
 
	
 
	
 
	
 

	
Title
	
Managing Director
	
 
	
Title
	
Executive Director

	
 
	
 
	
 
	
 
	
 

	
Date
	
4.24.19
	
 
	
Date
	
May 1, 2019

 

2

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