0001193125-25-292862 Sample Contracts

SUBADVISORY AGREEMENT
Subadvisory Agreement • November 24th, 2025 • Putnam Target Date Funds

THIS SUBADVISORY AGREEMENT (the “Agreement”) is made as of November 1, 2024 by and between FRANKLIN ADVISERS, INC., a corporation organized and existing under the laws of the State of California (hereinafter called “FAV”), and FRANKLIN TEMPLETON INVESTMENT MANAGEMENT LIMITED (“FTIML”), a corporation existing under the laws of the United Kingdom.

EIGHTH JOINDER TO GLOBAL CUSTODY AGREEMENT
Joinder to Global Custody Agreement • November 24th, 2025 • Putnam Target Date Funds • New York

EIGHTH JOINDER (“Joinder”) to the GLOBAL CUSTODY AGREEMENT, dated March 1, 2020, among each of the Customers listed on Annex B thereto (each a “Customer”) and J.P. MORGAN CHASE BANK, N.A (“J.P. Morgan”), as amended from time to time (the “Agreement”), is made and entered into as of May 6, 2024, between each New Customer (as defined below) and J.P. Morgan.

SUBADVISORY AGREEMENT
Subadvisory Agreement • November 24th, 2025 • Putnam Target Date Funds

THIS SUBADVISORY AGREEMENT made as of July 15, 2024 by and between FRANKLIN ADVISERS, INC., a corporation organized and existing under the laws of the State of California (hereinafter called “FAV”), and PUTNAM INVESTMENT MANAGEMENT, LLC, a limited liability company organized and existing under the laws of the State of Delaware (“PIM”).