AMERICAN BEACON FUNDS AMERICAN BEACON SELECT FUNDS TENTH AMENDMENT TO Management Agreement
Exhibit 99.(d)(4)
AMERICAN BEACON FUNDS
TENTH AMENDMENT TO Management Agreement
The attached amended and restated Schedule B to add the American Beacon Continuous Capital Emerging Markets Fund,the American Beacon Tocqueville International Value Fund, the American Beacon AHL TargetRisk Fund, and the American Beacon SSI Alternative Income Fund, and to remove the American Beacon Flexible Bond Fund is hereby incorporated into the Management Agreement dated April 4, 2016, as amended, by and between the American Beacon Funds and the American Beacon Select Funds, each a Massachusetts business trust (each, a “Trust”), on behalf of each Fund of a Trust listed on Schedule B hereto, as may be amended from time to time (each, a “Fund”), and American Beacon Advisors, Inc., a Delaware corporation, and supersedes any prior Schedule B to the Agreement.
Dated: December 6, 2018
| AMERICAN BEACON FUNDS | AMERICAN BEACON ADVISORS, INC. | |||
| AMERICAN BEACON SELECT FUNDS | ||||
| By: | /s/ ▇▇▇▇ ▇. Needles, Jr. | By: | /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ | |
| ▇▇▇▇ ▇. Needles, Jr. | ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ | |||
| President | Chief Operating Officer | |||
AMERICAN BEACON FUNDS
SCHEDULE B
| Fund | Effective Date | Fee Schedule | Grandfathered Fund |
| American Beacon Balanced Fund | 5/29/2016 | Traditional - Multiple Manager | Yes |
| American Beacon International Equity Fund | 5/29/2016 | Traditional - Multiple Manager | Yes |
| American Beacon Large Cap Value Fund | 5/29/2016 | Traditional - Multiple Manager | Yes |
| American Beacon Mid-Cap Value Fund | 5/29/2016 | Traditional - Multiple Manager | Yes |
| American Beacon Small Cap Value Fund | 5/29/2016 | Traditional - Multiple Manager | Yes |
| American Beacon Frontier Markets Income Fund | 6/19/2018 | Traditional - Multiple Manager | n/a |
| American Beacon Alpha Quant Core Fund | 3/22/2017 | Traditional - Single Manager | n/a |
| American Beacon Alpha Quant Dividend Fund | 3/22/2017 | Traditional - Single Manager | n/a |
| American Beacon Alpha Quant Quality Fund | 3/22/2017 | Traditional - Single Manager | n/a |
| American Beacon Alpha Quant Value Fund | 3/22/2017 | Traditional - Single Manager | n/a |
| American Beacon Acadian Emerging Markets Managed Volatility Fund | 5/29/2016 | Traditional - Single Manager | n/a |
| American Beacon AHL TargetRisk Fund | 12/31/2018 | Traditional – Single Manager | n/a |
| American Beacon ARK Transformational Innovation Fund | 1/27/2017 | Traditional - Single Manager | n/a |
| American Beacon ▇▇▇▇ & ▇▇▇▇▇▇ Small Cap Growth Fund | 5/29/2016 | Traditional - Single Manager | n/a |
| American Beacon Bridgeway Large Cap Growth Fund | 5/29/2016 | Traditional - Single Manager | n/a |
| American Beacon Bridgeway Large Cap Value Fund | 5/29/2016 | Traditional - Single Manager | n/a |
| American Beacon Continuous Capital Emerging Markets Fund | 12/03/2018 | Traditional – Single Manager | n/a |
| American Beacon Crescent Short Duration High Income Fund | 5/29/2016 | Traditional - Single Manager | n/a |
| American Beacon ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Quality Bond Fund | 4/4/2016 | Traditional - Single Manager | n/a |
| American Beacon GLG Total Return Fund | 5/20/2016 | Traditional - Single Manager | n/a |
| American Beacon SGA Global Growth Fund | 5/29/2016 | Traditional - Single Manager | n/a |
| American Beacon ▇▇▇▇▇▇▇ Equity Opportunities Fund | 9/12/2017 | Traditional - Single Manager | n/a |
| American Beacon ▇▇▇▇▇▇▇ ▇▇▇▇ Cap Equity Fund | 9/12/2017 | Traditional - Single Manager | n/a |
| American Beacon SiM High Yield Opportunities Fund | 5/29/2016 | Traditional - Single Manager | n/a |
| American Beacon Sound Point Floating Rate Income Fund | 5/29/2016 | Traditional - Single Manager | n/a |
| American Beacon ▇▇▇▇▇▇▇▇ Mid-Cap Growth Fund | 5/29/2016 | Traditional - Single Manager | n/a |
| American Beacon SSI Alternative Income Fund | 03/01/2019 | Traditional – Single Manager | n/a |
| American Beacon ▇▇▇▇▇▇▇▇ Small Cap Growth Fund | 5/29/2016 | Traditional - Single Manager | n/a |
| American Beacon The London Company Income Equity Fund | 5/29/2016 | Traditional - Single Manager | n/a |
| American Beacon Tocqueville International Value Fund | 1/16/2019 | Traditional - Single Manager | n/a |
| American Beacon TwentyFour Strategic Income Fund | 4/3/2017 | Traditional - Single Manager | n/a |
| American Beacon Zebra Small Cap Equity Fund | 5/29/2016 | Traditional - Single Manager | n/a |
| American Beacon AHL Managed Futures Strategy Fund | 5/29/2016 | Alternative Investments | Yes |
| American Beacon Ionic Strategic Arbitrage Fund | 5/29/2016 | Alternative Investments | Yes |
| American Beacon Numeric Integrated Alpha Fund | 11/01/2016 | Alternative Investments | n/a |
| American Beacon Grosvenor Long/Short Fund | 5/29/2016 | Grosvenor Fund | n/a |
Dated: December 6, 2018
| B-1 |