Common use of TRUSTS and Funds Clause in Contracts

TRUSTS and Funds. XXXX XXXXXXX XXXX TRUST Government Income Fund High Yield Fund Investment Grade Bond Fund XXXX XXXXXXX CALIFORNIA TAX-FREE INCOME FUND California Tax-Free Income Fund XXXX XXXXXXX CAPITAL SERIES Classic Value Fund U.S. Global Leaders Growth Fund XXXX XXXXXXX CURRENT INTEREST Money Market Fund XXXX XXXXXXX INVESTMENT TRUST Balanced Fund Global Opportunities Fund Large Cap Equity Fund Small Cap Intrinsic Value Fund Sovereign Investors Fund XXXX XXXXXXX INVESTMENT TRUST II Financial Industries Fund Regional Bank Fund Small Cap Equity Fund XXXX XXXXXXX INVESTMENT TRUST III Greater China Opportunities Fund XXXX XXXXXXX MUNICIPAL SECURITIES TRUST High Yield Municipal Bond Fund Tax-Free Bond Fund XXXX XXXXXXX SERIES TRUST Mid Cap Equity Fund XXXX XXXXXXX SOVEREIGN BOND FUND Bond Fund XXXX XXXXXXX STRATEGIC SERIES Strategic Income Fund XXXX XXXXXXX TAX-EXEMPT SERIES FUND Massachusetts Tax-Free Income Fund New York Tax-Free Income Fund APPENDIX B Classes Expiration Date of Fund A B C R4 Waiver/Limit Balanced Fund N/A N/A N/A 0.15% 2/28/20141 Classic Value Fund N/A N/A N/A 0.15% 2/28/20141 Large Cap Equity Fund N/A N/A N/A 0.15% 2/28/20141 Money Market Fund 0.15% N/A N/A N/A 7/31/2013 California Tax-Free Income Fund N/A 0.90% 0.90% N/A 9/30/20132 High Yield Municipal Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20132 Massachusetts Tax-Free Income Fund 0.15% 0.90% 0.90% N/A 9/30/20132 New York Tax-Free Income Fund 0.15% 0.90% 0.90% N/A 9/30/20132 Strategic Income Fund N/A N/A N/A 0.15% 9/30/20131 Tax-Free Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20132 1 At the June 3-5, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds to the extent necessary to achieve the aggregate distribution and service fees set forth above with the respective expiration dates listed above, each effective as of June 5, 2012. 2 At the June 3-5, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds set forth above to September 30, 2013, each effective upon the current expiration date of September 30, 2012.

TRUSTS and Funds. XXXX XXXXXXX XXXX TRUST Government Income Fund High Yield Fund Investment Grade Bond Fund XXXX XXXXXXX CALIFORNIA TAX-FREE INCOME FUND California Tax-Free Income Fund XXXX XXXXXXX CAPITAL SERIES Classic Value Fund U.S. U. S. Global Leaders Growth Fund XXXX XXXXXXX CURRENT INTEREST Money Market Fund XXXX XXXXXXX INVESTMENT TRUST Balanced Fund Global Opportunities Fund Large Cap Equity Fund Small Cap Intrinsic Value Fund Sovereign Investors Fund XXXX XXXXXXX INVESTMENT TRUST II Financial Industries Fund Regional Bank Fund Small Cap Equity Fund XXXX XXXXXXX INVESTMENT TRUST III Greater China Opportunities Fund XXXX XXXXXXX MUNICIPAL SECURITIES TRUST High Yield Municipal Bond Fund Tax-Free Bond Fund XXXX XXXXXXX SERIES TRUST Mid Cap Equity Fund XXXX XXXXXXX SOVEREIGN BOND FUND Bond Fund XXXX XXXXXXX STRATEGIC SERIES Strategic Income Fund XXXX XXXXXXX TAX-EXEMPT SERIES FUND Massachusetts Tax-Free Income Fund New York Tax-Free Income Fund APPENDIX B Classes Expiration Date of Fund A B C R4 Waiver/Limit Balanced Fund N/A N/A N/A 0.15% 2/28/20141 Classic Value Fund N/A N/A N/A 0.15% 2/28/20141 Large Cap Equity Fund N/A N/A N/A 0.15% 2/28/20141 Money Market Fund 0.150.15 % N/A N/A N/A 7/31/2013 1 High Yield Municipal Bond Fund 0.15 % 0.90 % 0.90 % 9/30/2012 Tax-Free Bond Fund 0.15 % 0.90 % 0.90 % 9/30/2012 California Tax-Free Income Fund N/A 0.900.90 % 0.900.90 % N/A 9/30/20132 High Yield Municipal Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20132 9/30/2012 Massachusetts Tax-Free Income Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 9/30/2012 New York Tax-Free Income Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 Strategic Income Fund N/A N/A N/A 0.15% 9/30/20131 Tax-Free Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20132 9/30/2012 1 At the June 3March 4-5, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds to the extent necessary to achieve the aggregate distribution and service fees set forth above with the respective expiration dates listed above, each effective as of June 5, 2012. 2 At the June 3-57, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution fees and/or and service fees of the Funds Class A shares of Money Market Fund set forth above to September 30July 31, 2013, each effective upon the current expiration date of September 30July 31, 2012.

TRUSTS and Funds. XXXX XXXXXXX XXXX TRUST Government Income Fund High Yield Fund Investment Grade Bond Fund XXXX XXXXXXX CALIFORNIA TAX-FREE INCOME FUND California Tax-Free Income Fund XXXX XXXXXXX CAPITAL SERIES Classic Value Fund U.S. U. S. Global Leaders Growth Fund XXXX XXXXXXX CURRENT INTEREST Money Market Fund XXXX XXXXXXX INVESTMENT TRUST Balanced Fund Global Opportunities Fund Large Cap Equity Fund Small Cap Intrinsic Value Fund Sovereign Investors Fund XXXX XXXXXXX INVESTMENT TRUST II Financial Industries Fund Regional Bank Fund Small Cap Equity Fund XXXX XXXXXXX INVESTMENT TRUST III Greater China Opportunities Fund XXXX XXXXXXX MUNICIPAL SECURITIES TRUST High Yield Municipal Bond Fund Tax-Free Bond Fund XXXX XXXXXXX SERIES TRUST Mid Cap Equity Fund XXXX XXXXXXX SOVEREIGN BOND FUND Bond Fund XXXX XXXXXXX STRATEGIC SERIES Strategic Income Fund XXXX XXXXXXX TAX-EXEMPT SERIES FUND Massachusetts Tax-Free Income Fund New York Tax-Free Income Fund APPENDIX B Classes Expiration Date of Waiver/Limit Fund A B C R4 Waiver/Limit Balanced Fund N/A N/A N/A 0.15% 2/28/20141 Classic Value Fund N/A N/A N/A 0.15% 2/28/20141 Large Cap Equity Fund N/A N/A N/A 0.15% 2/28/20141 Money Market Fund 0.15% N/A N/A N/A 7/31/2013 7/31/2012[1] High Yield Municipal Bond Fund 0.15% 0.90% 0.90% 9/30/2012[2] Tax-Free Bond Fund 0.15% 0.90% 0.90% 9/30/20122 California Tax-Free Income Fund N/A 0.90% 0.90% N/A 9/30/20132 High Yield Municipal Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20132 9/30/20122 Massachusetts Tax-Free Income Fund 0.15% 0.90% 0.90% N/A 9/30/20132 9/30/20122 New York Tax-Free Income Fund 0.15% 0.90% 0.90% N/A 9/30/20132 Strategic Income Fund N/A N/A N/A 0.15% 9/30/20131 Tax-Free Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20132 1 9/30/20122 [1] At the June 35-57, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds to the extent necessary to achieve the aggregate distribution and service fees set forth above with the respective expiration dates listed above, each effective as of June 5, 2012. 2 At the June 3-5, 2012 2011 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution and service fees of Class A shares of Money Market Fund set forth above to July 31, 2012, effective upon the current expiration date of July 31, 2011. [2] At the June 5-7, 2011 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of for the Funds to the extent necessary to achieve the aggregate distribution and service fees set forth above to September 30, 20132012, each effective upon the current expiration date of September 30August 1, 20122011.

TRUSTS and Funds. XXXX XXXXXXX XXXX TRUST Government Income Fund High Yield Fund Investment Grade Bond Fund XXXX XXXXXXX CALIFORNIA TAX-FREE INCOME FUND California Tax-Free Income Fund XXXX XXXXXXX CAPITAL SERIES Classic Value Fund U.S. Global Leaders Growth Fund XXXX XXXXXXX CURRENT INTEREST Money Market Fund XXXX XXXXXXX INVESTMENT TRUST Balanced Fund Global Opportunities Fund Large Cap Equity Fund Small Cap Intrinsic Value Fund Sovereign Investors Fund XXXX XXXXXXX INVESTMENT TRUST II Financial Industries Fund Regional Bank Fund Small Cap Equity Fund XXXX XXXXXXX INVESTMENT TRUST III Greater China Opportunities Fund XXXX XXXXXXX MUNICIPAL SECURITIES TRUST High Yield Municipal Bond Fund Tax-Free Bond Fund XXXX XXXXXXX SERIES TRUST Mid Cap Equity Fund XXXX XXXXXXX SOVEREIGN BOND FUND Bond Fund XXXX XXXXXXX STRATEGIC SERIES Strategic Income Fund XXXX XXXXXXX TAX-EXEMPT SERIES FUND Massachusetts Tax-Free Income Fund New York Tax-Free Income Fund APPENDIX B Classes Expiration Date of Fund A B C R4 Waiver/Limit Balanced Fund N/A N/A N/A 0.150.15 % 2/28/20141 2/28/2014 1 Classic Value Fund N/A N/A N/A 0.150.15 % 2/28/20141 2/28/2014 1 Large Cap Equity Fund N/A N/A N/A 0.150.15 % 2/28/20141 2/28/2014 1 Money Market Fund 0.150.15 % NX/A NX X/A NX X/A 7/31/2013 California X 0/00/0000 Xxxxxxxxxx Tax-Free Income Fund N/A 0.900.90 % 0.900.90 % N/A 9/30/20132 9/30/2013 2 High Yield Municipal Bond Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 9/30/2013 2 Massachusetts Tax-Free Income Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 9/30/2013 2 New York Tax-Free Income Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 9/30/2013 2 Strategic Income Fund N/A N/A N/A 0.150.15 % 9/30/20131 9/30/2013 1 Tax-Free Bond Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 9/30/2013 2 1 At the June 3-5, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds to the extent necessary to achieve the aggregate distribution and service fees set forth above with the respective expiration dates listed above, each effective as of June 5, 2012. 2 At the June 3-5, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds set forth above to September 30, 2013, each effective upon the current expiration date of September 30, 2012.

TRUSTS and Funds. XXXX XXXXXXX XXXX TRUST Government Income Fund High Yield Fund Investment Grade Bond Fund XXXX XXXXXXX CALIFORNIA TAX-FREE INCOME FUND California Tax-Free Income Fund XXXX XXXXXXX CAPITAL SERIES Classic Value Fund U.S. Global Leaders Growth Fund XXXX XXXXXXX CURRENT INTEREST Money Market Fund XXXX XXXXXXX INVESTMENT TRUST Balanced Fund Global Opportunities Fund Large Cap Equity Fund Small Cap Intrinsic Value Fund Sovereign Investors Fund XXXX XXXXXXX INVESTMENT TRUST II Financial Industries Fund Regional Bank Fund Small Cap Equity Fund XXXX XXXXXXX INVESTMENT TRUST III Greater China Opportunities Fund XXXX XXXXXXX MUNICIPAL SECURITIES TRUST High Yield Municipal Bond Fund Tax-Free Bond Fund XXXX XXXXXXX SERIES TRUST Mid Cap Equity Fund XXXX XXXXXXX SOVEREIGN BOND FUND Bond Fund XXXX XXXXXXX STRATEGIC SERIES Strategic Income Fund XXXX XXXXXXX TAX-EXEMPT SERIES FUND Massachusetts Tax-Free Income Fund New York Tax-Free Income Fund APPENDIX B Classes Expiration Date of Fund A B C R4 Waiver/Limit Balanced Fund N/A N/A N/A 0.150.15 % 2/28/20141 2/28/2014 1 Classic Value Fund N/A N/A N/A 0.150.15 % 2/28/20141 2/28/2014 1 Large Cap Equity Fund N/A N/A N/A 0.150.15 % 2/28/20141 2/28/2014 1 Money Market Fund 0.150.15 % N/A N/A N/A 7/31/2013 California Tax-Free Income Fund N/A 0.900.90 % 0.900.90 % N/A 9/30/20132 9/30/2013 2 High Yield Municipal Bond Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 9/30/2013 2 Massachusetts Tax-Free Income Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 9/30/2013 2 New York Tax-Free Income Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 9/30/2013 2 Strategic Income Fund N/A N/A N/A 0.150.15 % 9/30/20131 9/30/2013 1 Tax-Free Bond Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 9/30/2013 2 1 At the June 3-5, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds to the extent necessary to achieve the aggregate distribution and service fees set forth above with the respective expiration dates listed above, each effective as of June 5, 2012. 2 At the June 3-5, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds set forth above to September 30, 2013, each effective upon the current expiration date of September 30, 2012.

TRUSTS and Funds. XXXX XXXXXXX XXXX TRUST Government Income Fund High Yield Fund Investment Grade Bond Fund XXXX XXXXXXX CALIFORNIA TAX-FREE INCOME FUND California Tax-Free Income Fund XXXX XXXXXXX CAPITAL SERIES Classic Value Fund U.S. U. S. Global Leaders Growth Fund XXXX XXXXXXX CURRENT INTEREST Money Market Fund XXXX XXXXXXX INVESTMENT TRUST Balanced Fund Global Opportunities Fund Large Cap Equity Fund Small Cap Intrinsic Value Fund Sovereign Investors Fund XXXX XXXXXXX INVESTMENT TRUST II Financial Industries Fund Regional Bank Fund Small Cap Equity Fund XXXX XXXXXXX INVESTMENT TRUST III Greater China Opportunities Fund XXXX XXXXXXX MUNICIPAL SECURITIES TRUST High Yield Municipal Bond Fund Tax-Free Bond Fund XXXX XXXXXXX SERIES TRUST Mid Cap Equity Fund XXXX XXXXXXX SOVEREIGN BOND FUND Bond Fund XXXX XXXXXXX STRATEGIC SERIES Strategic Income Fund XXXX XXXXXXX TAX-EXEMPT SERIES FUND Massachusetts Tax-Free Income Fund New York Tax-Free Income Fund APPENDIX B Classes Expiration Date of Classes Waiver/Limit Fund A B C R4 Waiver/Limit Balanced Fund N/A N/A N/A 0.15% 2/28/20141 Classic Value Fund N/A N/A N/A 0.15% 2/28/20141 Large Cap Equity Fund N/A N/A N/A 0.15% 2/28/20141 Money Market Fund 0.150.15 % N/A N/A N/A 7/31/2013 7/31/2012 1 High Yield Municipal Bond Fund 0.15 % 0.90 % 0.90 % 9/30/2012 2 Tax-Free Bond Fund 0.15 % 0.90 % 0.90 % 9/30/2012 2 California Tax-Free Income Fund N/A 0.900.90 % 0.900.90 % N/A 9/30/20132 High Yield Municipal Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20132 9/30/2012 2 Massachusetts Tax-Free Income Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 9/30/2012 2 New York Tax-Free Income Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 Strategic Income Fund N/A N/A N/A 0.15% 9/30/20131 Tax-Free Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20132 9/30/2012 2 1 At the June 35-57, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds to the extent necessary to achieve the aggregate distribution and service fees set forth above with the respective expiration dates listed above, each effective as of June 5, 2012. 2 At the June 3-5, 2012 2011 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution and service fees of Class A shares of Money Market Fund set forth above to July 31, 2012, effective upon the current expiration date of July 31, 2011. 2 At the June 5-7, 2011 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of for the Funds to the extent necessary to achieve the aggregate distribution and service fees set forth above to September 30, 20132012, each effective upon the current expiration date of September 30August 1, 20122011.

TRUSTS and Funds. XXXX JOHN XXXXXXX XXXX TRUST XXXXT Government Income Fund High Yield Fund Investment Grade Bond Fund XXXX XXXXXXX CALIFORNIA JOHN XXXXOXX XXXXFORNIA TAX-FREE INCOME FUND California Tax-Free Income Fund XXXX XXXXXXX CAPITAL JOHN XXXXOXX XXXXTAL SERIES Classic Value Fund U.S. U. S. Global Leaders Growth Fund XXXX XXXXXXX CURRENT JOHN XXXXOXX XXXXENT INTEREST Money Market Fund XXXX XXXXXXX INVESTMENT JOHN XXXXOXX XXXXSTMENT TRUST Balanced Fund Global Opportunities Fund Large Cap Equity Fund Small Cap Intrinsic Value Fund Sovereign Investors Fund XXXX XXXXXXX INVESTMENT JOHN XXXXOXX XXXXSTMENT TRUST II Financial Industries Fund Regional Bank Fund Small Cap Equity Fund XXXX XXXXXXX INVESTMENT JOHN XXXXOXX XXXXSTMENT TRUST III Greater China Opportunities Fund XXXX XXXXXXX MUNICIPAL JOHN XXXXOXX XXXXCIPAL SECURITIES TRUST High Yield Municipal Bond Fund Tax-Free Bond Fund XXXX XXXXXXX SERIES JOHN XXXXOXX XXXXES TRUST Mid Cap Equity Fund XXXX XXXXXXX SOVEREIGN JOHN XXXXOXX XXXXREIGN BOND FUND Bond Fund XXXX XXXXXXX STRATEGIC JOHN XXXXOXX XXXXTEGIC SERIES Strategic Income Fund XXXX XXXXXXX TAXJOHN XXXXOXX XXX-EXEMPT SERIES FUND Massachusetts Tax-Free Income Fund New York Tax-Free Income Fund APPENDIX B Classes Expiration Date of Fund A B C R4 Waiver/Limit Balanced Fund N/A N/A N/A 0.15% 2/28/20141 Classic Value Fund N/A N/A N/A 0.15% 2/28/20141 Large Cap Equity Fund N/A N/A N/A 0.15% 2/28/20141 Money Market Fund 0.15% N/A N/A N/A 7/31/2013 7/31/20131 High Yield Municipal Bond Fund 0.15% 0.90% 0.90% 9/30/2012 Tax-Free Bond Fund 0.15% 0.90% 0.90% 9/30/2012 California Tax-Free Income Fund N/A 0.90% 0.90% N/A 9/30/20132 High Yield Municipal Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20132 9/30/2012 Massachusetts Tax-Free Income Fund 0.15% 0.90% 0.90% N/A 9/30/20132 9/30/2012 New York Tax-Free Income Fund 0.15% 0.90% 0.90% N/A 9/30/20132 Strategic Income Fund N/A N/A N/A 0.15% 9/30/20131 Tax-Free Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20132 9/30/2012 1 At the June 3March 4-5, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds to the extent necessary to achieve the aggregate distribution and service fees set forth above with the respective expiration dates listed above, each effective as of June 5, 2012. 2 At the June 3-57, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution fees and/or and service fees of the Funds Class A shares of Money Market Fund set forth above to September 30July 31, 2013, each effective upon the current expiration date of September 30July 31, 2012.

TRUSTS and Funds. XXXX JOHN XXXXXXX XXXX TRUST XXXXT Government Income Fund High Yield Fund Investment Grade Bond Fund XXXX XXXXXXX CALIFORNIA JOHN XXXXOXX XXXXFORNIA TAX-FREE INCOME FUND California Tax-Free Income Fund XXXX XXXXXXX CAPITAL JOHN XXXXOXX XXXXTAL SERIES Classic Value Fund U.S. U. S. Global Leaders Growth Fund XXXX XXXXXXX CURRENT JOHN XXXXOXX XXXXENT INTEREST Money Market Fund XXXX XXXXXXX INVESTMENT JOHN XXXXOXX XXXXSTMENT TRUST Balanced Fund Global Opportunities Fund Large Cap Equity Fund Small Cap Intrinsic Value Fund Sovereign Investors Fund XXXX XXXXXXX INVESTMENT JOHN XXXXOXX XXXXSTMENT TRUST II Financial Industries Fund Regional Bank Fund Small Cap Equity Fund XXXX XXXXXXX INVESTMENT JOHN XXXXOXX XXXXSTMENT TRUST III Greater China Opportunities Fund XXXX XXXXXXX MUNICIPAL JOHN XXXXOXX XXXXCIPAL SECURITIES TRUST High Yield Municipal Bond Fund Tax-Free Bond Fund XXXX XXXXXXX SERIES JOHN XXXXOXX XXXXES TRUST Mid Cap Equity Fund XXXX XXXXXXX SOVEREIGN JOHN XXXXOXX XXXXREIGN BOND FUND Bond Fund XXXX XXXXXXX STRATEGIC JOHN XXXXOXX XXXXTEGIC SERIES Strategic Income Fund XXXX XXXXXXX TAXJOHN XXXXOXX XXX-EXEMPT SERIES FUND Massachusetts Tax-Free Income Fund New York Tax-Free Income Fund APPENDIX B Classes Expiration Date of Fund A B C R4 Waiver/Limit Balanced Fund N/A N/A N/A 0.15% 2/28/20141 Classic Value Fund N/A N/A N/A 0.15% 2/28/20141 Large Cap Equity Fund N/A N/A N/A 0.15% 2/28/20141 Money Market Fund 0.150.15 % N/A N/A N/A 7/31/2013 7/31/2012 1 High Yield Municipal Bond Fund 0.15 % 0.90 % 0.90 % 9/30/2012 2 Tax-Free Bond Fund 0.15 % 0.90 % 0.90 % 9/30/2012 2 California Tax-Free Income Fund N/A 0.900.90 % 0.900.90 % N/A 9/30/20132 High Yield Municipal Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20132 9/30/2012 2 Massachusetts Tax-Free Income Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 9/30/2012 2 New York Tax-Free Income Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 Strategic Income Fund N/A N/A N/A 0.15% 9/30/20131 Tax-Free Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20132 9/30/2012 2 1 At the June 35-57, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds to the extent necessary to achieve the aggregate distribution and service fees set forth above with the respective expiration dates listed above, each effective as of June 5, 2012. 2 At the June 3-5, 2012 2011 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution and service fees of Class A shares of Money Market Fund set forth above to July 31, 2012, effective upon the current expiration date of July 31, 2011. 2 At the June 5-7, 2011 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of for the Funds to the extent necessary to achieve the aggregate distribution and service fees set forth above to September 30, 20132012, each effective upon the current expiration date of September 30August 1, 20122011.

TRUSTS and Funds. XXXX JOHN XXXXXXX XXXX TRUST XXXXT Government Income Fund High Yield Fund Investment Grade Bond Fund XXXX XXXXXXX CALIFORNIA JOHN XXXXOXX XXXXFORNIA TAX-FREE INCOME FUND California Tax-Free Income Fund XXXX XXXXXXX CAPITAL JOHN XXXXOXX XXXXTAL SERIES Classic Value Fund U.S. Global Leaders Growth Fund XXXX XXXXXXX CURRENT JOHN XXXXOXX XXXXENT INTEREST Money Market Fund XXXX XXXXXXX INVESTMENT JOHN XXXXOXX XXXXSTMENT TRUST Balanced Fund Global Opportunities Fund Large Cap Equity Fund Small Cap Intrinsic Value Fund Sovereign Investors Fund XXXX XXXXXXX INVESTMENT JOHN XXXXOXX XXXXSTMENT TRUST II Financial Industries Fund Regional Bank Fund Small Cap Equity Fund XXXX XXXXXXX INVESTMENT JOHN XXXXOXX XXXXSTMENT TRUST III Greater China Opportunities Fund XXXX XXXXXXX MUNICIPAL JOHN XXXXOXX XXXXCIPAL SECURITIES TRUST High Yield Municipal Bond Fund Tax-Free Bond Fund XXXX XXXXXXX SERIES JOHN XXXXOXX XXXXES TRUST Mid Cap Equity Fund XXXX XXXXXXX SOVEREIGN JOHN XXXXOXX XXXXREIGN BOND FUND Bond Fund XXXX XXXXXXX STRATEGIC JOHN XXXXOXX XXXXTEGIC SERIES Strategic Income Fund XXXX XXXXXXX TAXJOHN XXXXOXX XXX-EXEMPT SERIES FUND Massachusetts Tax-Free Income Fund New York Tax-Free Income Fund APPENDIX B Classes Expiration Date of Fund A B C R4 Waiver/Limit Balanced Fund N/A N/A N/A 0.150.15 % 2/28/20141 Classic Value Fund N/A N/A N/A 0.150.15 % 2/28/20141 Large Cap Equity Fund N/A N/A N/A 0.150.15 % 2/28/20141 Money Market Fund 0.150.15 % N/A N/A N/A 7/31/2013 California Tax-Free Income Fund N/A 0.900.90 % 0.900.90 % N/A 9/30/20132 High Yield Municipal Bond Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 Massachusetts Tax-Free Income Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 New York Tax-Free Income Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 Strategic Income Fund N/A N/A N/A 0.150.15 % 9/30/20131 Tax-Free Bond Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 1 At the June 3-5, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds to the extent necessary to achieve the aggregate distribution and service fees set forth above with the respective expiration dates listed above, each effective as of June 5, 2012. 2 At the June 3-5, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds set forth above to September 30, 2013, each effective upon the current expiration date of September 30, 2012.

TRUSTS and Funds. XXXX XXXXXXX XXXX TRUST Government Income Fund High Yield Fund Investment Grade Bond Fund XXXX XXXXXXX CALIFORNIA TAX-FREE INCOME FUND California Tax-Free Income Fund XXXX XXXXXXX CAPITAL SERIES Classic Value Fund U.S. U. S. Global Leaders Growth Fund XXXX XXXXXXX CURRENT INTEREST Money Market Fund XXXX XXXXXXX INVESTMENT TRUST Balanced Fund Global Opportunities Fund Large Cap Equity Fund Small Cap Intrinsic Value Fund Sovereign Investors Fund XXXX XXXXXXX INVESTMENT TRUST II Financial Industries Fund Regional Bank Fund Small Cap Equity Fund XXXX XXXXXXX INVESTMENT TRUST III Greater China Opportunities Fund XXXX XXXXXXX MUNICIPAL SECURITIES TRUST High Yield Municipal Bond Fund Tax-Free Bond Fund XXXX XXXXXXX SERIES TRUST Mid Cap Equity Fund XXXX XXXXXXX SOVEREIGN BOND FUND Bond Fund XXXX XXXXXXX STRATEGIC SERIES Strategic Income Fund XXXX XXXXXXX TAX-EXEMPT SERIES FUND Massachusetts Tax-Free Income Fund New York Tax-Free Income Fund APPENDIX B Classes Expiration Date of Classes Waiver/Limit Fund A B C R4 Waiver/Limit Balanced Fund N/A N/A N/A 0.15% 2/28/20141 Classic Value Fund N/A N/A N/A 0.15% 2/28/20141 Large Cap Equity Fund N/A N/A N/A 0.15% 2/28/20141 Money Market Fund 0.150.15 % N/A N/A N/A 7/31/2013 7/31/20131 High Yield Municipal Bond Fund 0.15 % 0.90 % 0.90 % 9/30/2012 Tax-Free Bond Fund 0.15 % 0.90 % 0.90 % 9/30/2012 California Tax-Free Income Fund N/A 0.900.90 % 0.900.90 % N/A 9/30/20132 High Yield Municipal Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20132 9/30/2012 Massachusetts Tax-Free Income Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 9/30/2012 New York Tax-Free Income Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 Strategic Income Fund N/A N/A N/A 0.15% 9/30/20131 Tax-Free Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20132 9/30/2012 1 At the June 3March 4-5, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds to the extent necessary to achieve the aggregate distribution and service fees set forth above with the respective expiration dates listed above, each effective as of June 5, 2012. 2 At the June 3-57, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution fees and/or and service fees of the Funds Class A shares of Money Market Fund set forth above to September 30July 31, 2013, each effective upon the current expiration date of September 30July 31, 2012.

TRUSTS and Funds. XXXX XXXXXXX XXXX TRUST Government Income Fund High Yield Fund Investment Grade Bond Fund XXXX XXXXXXX CALIFORNIA TAX-FREE INCOME FUND California Tax-Free Income Fund XXXX XXXXXXX CAPITAL SERIES Classic Value Fund U.S. Global Leaders Growth Fund XXXX XXXXXXX CURRENT INTEREST Money Market Fund XXXX XXXXXXX INVESTMENT TRUST Balanced Fund Global Opportunities Fund Large Cap Equity Fund Small Cap Intrinsic Value Fund Sovereign Investors Fund XXXX XXXXXXX INVESTMENT TRUST II Financial Industries Fund Regional Bank Fund Small Cap Equity Fund XXXX XXXXXXX INVESTMENT TRUST III Greater China Opportunities Fund XXXX XXXXXXX MUNICIPAL SECURITIES TRUST High Yield Municipal Bond Fund Tax-Free Bond Fund XXXX XXXXXXX SERIES TRUST Mid Cap Equity Fund XXXX XXXXXXX SOVEREIGN BOND FUND Bond Fund XXXX XXXXXXX STRATEGIC SERIES Strategic Income Fund XXXX XXXXXXX TAX-EXEMPT SERIES FUND Massachusetts Tax-Free Income Fund New York Tax-Free Income Fund APPENDIX B Classes Expiration Date of Classes Waiver/Limit Fund A B C R4 Waiver/Limit Balanced Fund N/A N/A N/A 0.15% 2/28/20141 Classic Value Fund N/A N/A N/A 0.15% 2/28/20141 Large Cap Equity Fund N/A N/A N/A 0.15% 2/28/20141 Money Market Fund 0.15% N/A N/A N/A 7/31/2013 California Tax-Free Income Fund N/A 0.90% 0.90% N/A 9/30/20132 High Yield Municipal Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20132 Massachusetts Tax-Free Income Fund 0.15% 0.90% 0.90% N/A 9/30/20132 New York Tax-Free Income Fund 0.15% 0.90% 0.90% N/A 9/30/20132 Strategic Income Fund N/A N/A N/A 0.15% 9/30/20131 Tax-Free Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20132 1 At the June 3-5, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds to the extent necessary to achieve the aggregate distribution and service fees set forth above with the respective expiration dates listed above, each effective as of June 5, 2012. 2 At the June 3-5, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds set forth above to September 30, 2013, each effective upon the current expiration date of September 30, 2012.

TRUSTS and Funds. XXXX XXXXXXX XXXX TRUST Government Income Fund High Yield Fund Investment Grade Bond Fund XXXX XXXXXXX CALIFORNIA TAX-FREE INCOME FUND California Tax-Free Income Fund XXXX XXXXXXX CAPITAL SERIES Classic Value Fund U.S. Global Leaders Growth Fund XXXX XXXXXXX CURRENT INTEREST Money Market Fund XXXX XXXXXXX INVESTMENT TRUST Balanced Fund Global Opportunities Fund Large Cap Equity Fund Small Cap Intrinsic Value Fund Sovereign Investors Fund XXXX XXXXXXX INVESTMENT TRUST II Financial Industries Fund Regional Bank Fund Small Cap Equity Fund XXXX XXXXXXX INVESTMENT TRUST III Greater China Opportunities Fund XXXX XXXXXXX MUNICIPAL SECURITIES TRUST High Yield Municipal Bond Fund Tax-Free Bond Fund XXXX XXXXXXX SERIES TRUST Mid Cap Equity Fund XXXX XXXXXXX SOVEREIGN BOND FUND Bond Fund XXXX XXXXXXX STRATEGIC SERIES Strategic Income Fund XXXX XXXXXXX TAX-EXEMPT SERIES FUND Massachusetts Tax-Free Income Fund New York Tax-Free Income Fund APPENDIX B Classes Expiration Date of Classes Waiver/Limit Fund A B C R4 Waiver/Limit Balanced Fund N/A N/A N/A 0.15% 2/28/20141 Classic Value Fund N/A N/A N/A 0.15% 2/28/20141 Large Cap Equity Fund N/A N/A N/A 0.15% 2/28/20141 Money Market Fund 0.15% N/A N/A N/A 7/31/2013 California Tax-Free Income Fund N/A 0.90% 0.90% N/A 9/30/20132 Fund High Yield Municipal Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20132 Fund Massachusetts Tax-Free Income Fund 0.15% 0.90% 0.90% N/A 9/30/20132 Income Fund New York Tax-Free Income Fund 0.15% 0.90% 0.90% N/A 9/30/20132 Fund Strategic Income Fund N/A N/A N/A 0.15% 9/30/20131 Tax-Free Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20132 1 At the June 3-5, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds to the extent necessary to achieve the aggregate distribution and service fees set forth above with the respective expiration dates listed above, each effective as of June 5, 2012. 2 At the June 3-5, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds set forth above to September 30, 2013, each effective upon the current expiration date of September 30, 2012.

TRUSTS and Funds. XXXX XXXXXXX XXXX TRUST Government Income Fund High Yield Fund Investment Grade Bond Fund XXXX XXXXXXX CALIFORNIA TAX-FREE INCOME FUND California Tax-Free Income Fund XXXX XXXXXXX CAPITAL SERIES Classic Value Fund U.S. Global Leaders Growth Fund XXXX XXXXXXX CURRENT INTEREST Money Market Fund XXXX XXXXXXX INVESTMENT TRUST Balanced Fund Global Opportunities Fund Large Cap Equity Fund Small Cap Intrinsic Value Fund Sovereign Investors Fund XXXX XXXXXXX INVESTMENT TRUST II Financial Industries Fund Regional Bank Fund Small Cap Equity Fund XXXX XXXXXXX INVESTMENT TRUST III Greater China Opportunities Fund XXXX XXXXXXX MUNICIPAL SECURITIES TRUST High Yield Municipal Bond Fund Tax-Free Bond Fund XXXX XXXXXXX SERIES TRUST Mid Cap Equity Fund XXXX XXXXXXX SOVEREIGN BOND FUND Bond Fund XXXX XXXXXXX STRATEGIC SERIES Strategic Income Fund XXXX XXXXXXX TAX-EXEMPT SERIES FUND Massachusetts Tax-Free Income Fund New York Tax-Free Income Fund APPENDIX B Classes Expiration Date of Classes Waiver/Limit Fund A B C R4 Waiver/Limit Balanced Fund N/A N/A N/A 0.150.15 % 2/28/20141 Classic Value Fund N/A N/A N/A 0.150.15 % 2/28/20141 Large Cap Equity Fund N/A N/A N/A 0.150.15 % 2/28/20141 Money Market Fund 0.150.15 % NX/A NX X/A NX X/A 7/31/2013 California X 0/00/0000 Xxxxxxxxxx Tax-Free Income Fund N/A 0.900.90 % 0.900.90 % N/A 9/30/20132 High Yield Municipal Bond Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 Massachusetts Tax-Free Income Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 New York Tax-Free Income Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 Strategic Income Fund N/A N/A N/A 0.150.15 % 9/30/20131 Tax-Free Bond Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 1 At the June 3-5, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds to the extent necessary to achieve the aggregate distribution and service fees set forth above with the respective expiration dates listed above, each effective as of June 5, 2012. 2 At the June 3-5, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds set forth above to September 30, 2013, each effective upon the current expiration date of September 30, 2012.

TRUSTS and Funds. XXXX XXXXXXX XXXX TRUST Government Income Fund High Yield Fund Investment Grade Bond Fund XXXX XXXXXXX CALIFORNIA TAX-FREE INCOME FUND California Tax-Free Income Fund XXXX XXXXXXX CAPITAL SERIES Classic Value Fund U.S. Global Leaders Growth Fund XXXX XXXXXXX CURRENT INTEREST Money Market Fund XXXX XXXXXXX INVESTMENT TRUST Balanced Fund Global Opportunities Fund Large Cap Equity Fund Small Cap Intrinsic Value Fund Sovereign Investors Fund XXXX XXXXXXX INVESTMENT TRUST II Financial Industries Fund Regional Bank Fund Small Cap Equity Fund XXXX XXXXXXX INVESTMENT TRUST III Greater China Opportunities Fund XXXX XXXXXXX MUNICIPAL SECURITIES TRUST High Yield Municipal Bond Fund Tax-Free Bond Fund XXXX XXXXXXX SERIES TRUST Mid Cap Equity Fund XXXX XXXXXXX SOVEREIGN BOND FUND Bond Fund XXXX XXXXXXX STRATEGIC SERIES Strategic Income Fund XXXX XXXXXXX TAX-EXEMPT SERIES FUND Massachusetts Tax-Free Income Fund New York Tax-Free Income Fund APPENDIX B Classes Expiration Date of Fund A B C R4 Waiver/Limit Balanced Fund N/A N/A N/A 0.150.15 % 2/28/20141 Classic Value Fund N/A N/A N/A 0.150.15 % 2/28/20141 Large Cap Equity Fund N/A N/A N/A 0.150.15 % 2/28/20141 Money Market Fund 0.15% N/A N/A N/A 7/31/2013 California Tax-Free Income Fund N/A 0.90% 0.90% N/A 9/30/20132 High Yield Municipal Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20132 Massachusetts Tax-Free Income Fund 0.15% 0.90% 0.90% N/A 9/30/20132 New York Tax-Free Income Fund 0.15% 0.90% 0.90% N/A 9/30/20132 Strategic Income Fund N/A N/A N/A 0.150.15 % 9/30/20131 Tax-Free Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20132 1 At the June 3-5, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds to the extent necessary to achieve the aggregate distribution and service fees set forth above with the respective expiration dates listed above, each effective as of June 5, 2012. 2 At the June 3-5, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds set forth above to September 30, 2013, each effective upon the current expiration date of September 30, 2012.

TRUSTS and Funds. XXXX XXXXXXX XXXX TRUST Government Income Fund High Yield Fund Investment Grade Bond Fund XXXX XXXXXXX CALIFORNIA TAX-FREE INCOME FUND California Tax-Free Income Fund XXXX XXXXXXX CAPITAL SERIES Classic Value Fund U.S. Global Leaders Growth Fund XXXX XXXXXXX CURRENT INTEREST Money Market Fund XXXX XXXXXXX INVESTMENT TRUST Balanced Fund Global Opportunities Fund Large Cap Equity Fund Small Cap Intrinsic Value Fund Sovereign Investors Fund XXXX XXXXXXX INVESTMENT TRUST II Financial Industries Fund Regional Bank Fund Small Cap Equity Fund XXXX XXXXXXX INVESTMENT TRUST III Greater China Opportunities Fund XXXX XXXXXXX MUNICIPAL SECURITIES TRUST High Yield Municipal Bond Fund Tax-Free Bond Fund XXXX XXXXXXX SERIES TRUST Mid Cap Equity Fund XXXX XXXXXXX SOVEREIGN BOND FUND Bond Fund XXXX XXXXXXX STRATEGIC SERIES Strategic Income Fund XXXX XXXXXXX TAX-EXEMPT SERIES FUND Massachusetts Tax-Free Income Fund New York Tax-Free Income Fund APPENDIX B Classes Expiration Date of Waiver/Limit Fund A B C R4 Waiver/Limit Balanced Fund N/A N/A N/A 0.15% 2/28/20141 Classic Value Fund N/A N/A N/A 0.15% 2/28/20141 Large Cap Equity Fund N/A N/A N/A 0.15% 2/28/20141 Money Market Fund 0.15% N/A N/A N/A 7/31/2013 California Tax-Free Income Fund N/A 0.90% 0.90% N/A 9/30/20132 High Yield Municipal Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20132 Massachusetts Tax-Free Income Fund 0.15% 0.90% 0.90% N/A 9/30/20132 New York Tax-Free Income Fund 0.15% 0.90% 0.90% N/A 9/30/20132 Strategic Income Fund N/A N/A N/A 0.15% 9/30/20131 Tax-Free Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20132 1 At the June 3-5, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds to the extent necessary to achieve the aggregate distribution and service fees set forth above with the respective expiration dates listed above, each effective as of June 5, 2012. 2 At the June 3-5, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds set forth above to September 30, 2013, each effective upon the current expiration date of September 30, 2012.

TRUSTS and Funds. XXXX XXXXXXX XXXX TRUST Government Income Fund High Yield Fund Investment Grade Bond Fund XXXX XXXXXXX CALIFORNIA TAX-FREE INCOME FUND California Tax-Free Income Fund XXXX XXXXXXX CAPITAL SERIES Classic Value Fund U.S. U. S. Global Leaders Growth Fund XXXX XXXXXXX CURRENT INTEREST Money Market Fund XXXX XXXXXXX INVESTMENT TRUST Balanced Fund Global Opportunities Fund Large Cap Equity Fund Small Cap Intrinsic Value Fund Sovereign Investors Fund XXXX XXXXXXX INVESTMENT TRUST II Financial Industries Fund Regional Bank Fund Small Cap Equity Fund XXXX XXXXXXX INVESTMENT TRUST III Greater China Opportunities Fund XXXX XXXXXXX MUNICIPAL SECURITIES TRUST High Yield Municipal Bond Fund Tax-Free Bond Fund XXXX XXXXXXX SERIES TRUST Mid Cap Equity Fund XXXX XXXXXXX SOVEREIGN BOND FUND Bond Fund XXXX XXXXXXX STRATEGIC SERIES Strategic Income Fund XXXX XXXXXXX TAX-EXEMPT SERIES FUND Massachusetts Tax-Free Income Fund New York Tax-Free Income Fund APPENDIX B Classes Expiration Date of Fund A B C R4 Waiver/Limit Balanced Fund N/A N/A N/A 0.15% 2/28/20141 Classic Value Fund N/A N/A N/A 0.15% 2/28/20141 Large Cap Equity Fund N/A N/A N/A 0.15% 2/28/20141 Money Market Fund 0.150.15 % N/A N/A N/A 7/31/2013 7/31/2012 1 High Yield Municipal Bond Fund 0.15 % 0.90 % 0.90 % 9/30/2012 2 Tax-Free Bond Fund 0.15 % 0.90 % 0.90 % 9/30/2012 2 California Tax-Free Income Fund N/A 0.900.90 % 0.900.90 % N/A 9/30/20132 High Yield Municipal Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20132 9/30/2012 2 Massachusetts Tax-Free Income Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 9/30/2012 2 New York Tax-Free Income Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 Strategic Income Fund N/A N/A N/A 0.15% 9/30/20131 Tax-Free Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20132 9/30/2012 2 1 At the June 35-57, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds to the extent necessary to achieve the aggregate distribution and service fees set forth above with the respective expiration dates listed above, each effective as of June 5, 2012. 2 At the June 3-5, 2012 2011 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution and service fees of Class A shares of Money Market Fund set forth above to July 31, 2012, effective upon the current expiration date of July 31, 2011. 2 At the June 5-7, 2011 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of for the Funds to the extent necessary to achieve the aggregate distribution and service fees set forth above to September 30, 20132012, each effective upon the current expiration date of September 30August 1, 20122011.

TRUSTS and Funds. XXXX XXXXXXX XXXX TRUST Government Income Fund High Yield Fund Investment Grade Bond Fund XXXX XXXXXXX CALIFORNIA TAX-FREE INCOME FUND California Tax-Free Income Fund XXXX XXXXXXX CAPITAL SERIES Classic Value Fund U.S. Global Leaders Growth Fund XXXX XXXXXXX CURRENT INTEREST Money Market Fund XXXX XXXXXXX INVESTMENT TRUST Balanced Fund Global Opportunities Fund Large Cap Equity Fund Small Cap Intrinsic Value Fund Sovereign Investors Fund XXXX XXXXXXX INVESTMENT TRUST II Financial Industries Fund Regional Bank Fund Small Cap Equity Fund XXXX XXXXXXX INVESTMENT TRUST III Greater China Opportunities Fund XXXX XXXXXXX MUNICIPAL SECURITIES TRUST High Yield Municipal Bond Fund Tax-Free Bond Fund XXXX XXXXXXX SERIES TRUST Mid Cap Equity Fund XXXX XXXXXXX SOVEREIGN BOND FUND Bond Fund XXXX XXXXXXX STRATEGIC SERIES Strategic Income Fund XXXX XXXXXXX TAX-EXEMPT SERIES FUND Massachusetts Tax-Free Income Fund New York Tax-Free Income Fund APPENDIX B Classes Expiration Date of Fund A B C R4 Waiver/Limit Balanced Fund N/A N/A N/A 0.150.15 % 2/28/20141 Classic Value Fund N/A N/A N/A 0.150.15 % 2/28/20141 Large Cap Equity Fund N/A N/A N/A 0.150.15 % 2/28/20141 Money Market Fund 0.150.15 % NX/A NX X/A NX X/A 7/31/2013 California X 0/00/0000 Xxxxxxxxxx Tax-Free Income Fund N/A 0.900.90 % 0.90% N/A 9/30/20132 High Yield Municipal Bond Fund 0.150.15 % 0.900.90 % 0.90% N/A 9/30/20132 Massachusetts Tax-Free Income Fund 0.150.15 % 0.900.90 % 0.90% N/A 9/30/20132 New York Tax-Free Income Fund 0.150.15 % 0.900.90 % 0.90% N/A 9/30/20132 Strategic Income Fund N/A N/A N/A 0.150.15 % 9/30/20131 Tax-Free Bond Fund 0.150.15 % 0.900.90 % 0.90% N/A 9/30/20132 1 At the June 3-5, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds to the extent necessary to achieve the aggregate distribution and service fees set forth above with the respective expiration dates listed above, each effective as of June 5, 2012. 2 At the June 3-5, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds set forth above to September 30, 2013, each effective upon the current expiration date of September 30, 2012.

TRUSTS and Funds. XXXX JOHN XXXXXXX XXXX TRUST XXXXT Government Income Fund High Yield Fund Investment Grade Bond Fund XXXX XXXXXXX CALIFORNIA JOHN XXXXOXX XXXXFORNIA TAX-FREE INCOME FUND California Tax-Free Income Fund XXXX XXXXXXX CAPITAL JOHN XXXXOXX XXXXTAL SERIES Classic Value Fund U.S. U. S. Global Leaders Growth Fund XXXX XXXXXXX CURRENT JOHN XXXXOXX XXXXENT INTEREST Money Market Fund XXXX XXXXXXX INVESTMENT JOHN XXXXOXX XXXXSTMENT TRUST Balanced Fund Global Opportunities Fund Large Cap Equity Fund Small Cap Intrinsic Value Fund Sovereign Investors Fund XXXX XXXXXXX INVESTMENT JOHN XXXXOXX XXXXSTMENT TRUST II Financial Industries Fund Regional Bank Fund Small Cap Equity Fund XXXX XXXXXXX INVESTMENT JOHN XXXXOXX XXXXSTMENT TRUST III Greater China Opportunities Fund XXXX XXXXXXX MUNICIPAL JOHN XXXXOXX XXXXCIPAL SECURITIES TRUST High Yield Municipal Bond Fund Tax-Free Bond Fund XXXX XXXXXXX SERIES JOHN XXXXOXX XXXXES TRUST Mid Cap Equity Fund XXXX XXXXXXX SOVEREIGN JOHN XXXXOXX XXXXREIGN BOND FUND Bond Fund XXXX XXXXXXX STRATEGIC JOHN XXXXOXX XXXXTEGIC SERIES Strategic Income Fund XXXX XXXXXXX TAXJOHN XXXXOXX XXX-EXEMPT SERIES FUND Massachusetts Tax-Free Income Fund New York Tax-Free Income Fund APPENDIX B Classes Expiration Date of Fund A B C R4 Waiver/Limit Balanced Fund N/A N/A N/A 0.15% 2/28/20141 Classic Value Fund N/A N/A N/A 0.15% 2/28/20141 Large Cap Equity Fund N/A N/A N/A 0.15% 2/28/20141 Money Market Fund 0.150.15 % N/A N/A N/A 7/31/2013 1 High Yield Municipal Bond Fund 0.15 % 0.90 % 0.90 % 9/30/2012 Tax-Free Bond Fund 0.15 % 0.90 % 0.90 % 9/30/2012 California Tax-Free Income Fund N/A 0.900.90 % 0.900.90 % N/A 9/30/20132 High Yield Municipal Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20132 9/30/2012 Massachusetts Tax-Free Income Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 9/30/2012 New York Tax-Free Income Fund 0.150.15 % 0.900.90 % 0.900.90 % N/A 9/30/20132 Strategic Income Fund N/A N/A N/A 0.15% 9/30/20131 Tax-Free Bond Fund 0.15% 0.90% 0.90% N/A 9/30/20132 9/30/2012 1 At the June 3March 4-5, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the waiver and limit of the Rule 12b-1 distribution fees and/or service fees of the Funds to the extent necessary to achieve the aggregate distribution and service fees set forth above with the respective expiration dates listed above, each effective as of June 5, 2012. 2 At the June 3-57, 2012 meeting of the Board of Trustees of the Trusts, the Distributor notified the Board of, and the Board approved, the extension of the expiration date of the waiver and limit of the Rule 12b-1 distribution fees and/or and service fees of the Funds Class A shares of Money Market Fund set forth above to September 30July 31, 2013, each effective upon the current expiration date of September 30July 31, 2012.