Document:

msci-ex1091_139.htm

 

 

Exhibit 10.91

 

*** 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_00135107.0

AMENDMENT

 

Date of Amendment: August 15, 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 (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 Europe Small Cap 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 an exchange traded fund that is known, as of the date of this Amendment, as the “iShares Developed Small-Cap ex North America ETF” (NASDAQ: IFSM), provided that, as soon as reasonably practicable after the date of this Amendment, Licensee (i) replaces the non-MSCI index that such fund tracked as of the date of this Amendment with the MSCI Index identified above, and (ii) causes such fund to adopt and use only the following name:

	
 
	
•
	
iShares MSCI Europe Small-Cap ETF

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

Such fund shall be a “Fund” (as such term is defined in the Agreement) and it shall be an exchange traded index fund listed on a national securities exchange located in the United States.

	
3.
	
Beginning on the ************** and continuing through each **************** during the term of the Agreement, Licensee shall pay to MSCI a ********* license fee (the “License Fee”)

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

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

***************. The ********* License Fee shall be due and payable on a ****************** basis in *******. “AUM” means, for any applicable period, the Fund’s ***************************************** during such period.

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

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

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

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

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

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

“Expense Ratio” means 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 **************************************************************************************************.

***********************************************, Licensee shall provide to MSCI a written report identifying Licensee’s

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

Where necessary to align any relevant payment schedule with the ****************, the License Fee shall be pro-rated using a calculation method reasonably determined by MSCI.

	
4.
	
Special Conditions:

 

	
	
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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 (l) year of the date of this Amendment, Licensee does not replace the non-MSCI index used by the iShares Developed Small-Cap ex North America ETF (NASDAQ: IFSM, soon-to-be changed to IEUS) with the MSCI Europe Small Cap Index or such other index as agreed by Licensee and MSCI in writing.

	
 
	
c.
	
If Licensee delists the Fund or changes the underlying index for the Fund to a non-MSCI index, Licensee’s right to use the Index set forth in Section 1 with respect to the Fund 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/ Paul C. Lohrey
	
 
	
By
	
/s/ David Kinzelberg

	
 
	
 
	
 
	
 
	
 

	
Name
	
Paul C. Lohrey
	
 
	
Name
	
David Kinzelberg

	
 
	
 
	
 
	
 
	
 

	
Title
	
Managing Director
	
 
	
Title
	
Executive Director

	
 
	
 
	
 
	
 
	
 

	
Date
	
8/13/2014
	
 
	
Date
	
Aug 29, 2014

	
 
	
 
	
 
	
 
	
 

 

 

	
	
2/2msci-ex1092_138.htm

 

 

Exhibit 10.92

 

*** 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 00136364.0

AMENDMENT

Date of Amendment: September 9, 2014

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 World ex USA Momentum Index

	
 
	
•
	
MSCI World ex USA Sector Neutral Quality 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 (each, a “World ex U SA Factor ETF” and each World ex USA Factor ETF shall also be a “Fund” as such term is defined in the Agreement):

	
 
	
•
	
iShares MSCI International Developed Momentum Factor ETF

	
 
	
•
	
iShares MSCI International Developed Quality Factor ETF 

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

The World ex USA Factor ETFs shall be exchange traded index funds listed on a national securities exchange located in the United States.

	
 
	
3.
	
Licensee shall pay MSCI a ********* license fee per Fund based on each Fund’s

*********************************************, which fee shall be calculated and payable on a ********* basis. 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 ***************************************************** 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 except as expressly provided in the Agreement and this Amendment.

 

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

 

	
 
	
(c)
	
 If Licensee, delists a particular World ex USA Factor ETF or changes the underlying Index for such World ex USA Factor ETF, Licensee’s right to use the relevant Index set forth in Section 1 with respect to such World ex USA Factor 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

Name    Ravi Goutam

Title       Managing Director

Date10/9/14
	
 
	
By/s/ David Kinzelberg

Name David Kinzelberg

Title    Executive Director

Date 10/11/2014

 

 

	
	
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