| John Hancock Investment Management Distributors LLC 200 Berkeley Street Boston, MA 02116 |
|
December 12, 2024
To the Trustees of
John Hancock Funds
200 Berkeley Street
Boston, MA 02116
Re: Form of Rule 12b-1 Fee Waiver Letter Agreement
With reference to each of the Distribution Plans entered into by and between John Hancock Investment Management Distributors LLC (the “Distributor”) and each of the trusts listed in Appendix A to this letter (each, a “Trust” and collectively, the “Trusts”), on behalf of each of their respective series listed in Appendix A (each, a “Fund” and collectively, the “Funds”), we hereby notify you as follows:
1. The Distributor agrees to contractually waive and limit its Rule 12b-1 distribution fees and/or service fees to the extent necessary to achieve the aggregate Rule 12b-1 distribution and service fees of each Fund as set forth in Appendix B hereto. The expense waiver agreements expire on the dates specified, unless renewed by mutual agreement of the Fund and the Distributor based upon a determination that this is appropriate under the circumstances at that time.
2. We understand and intend that the Trusts will rely on this undertaking in overseeing the preparation and filing of Post-effective Amendments to the Registration Statements on Form N-1A for the Trusts and the Funds with the Securities and Exchange Commission, in accruing each Fund’s expenses for purposes of calculating its net and gross asset value per share, and for other purposes permitted under Form N-1A and/or the Investment Company Act of 1940, as amended, and we expressly permit the Trusts so to rely.
| Sincerely, | ||
| JOHN HANCOCK INVESTMENT MANAGEMENT DISTRIBUTORS LLC | ||
| By: | ||
| Jeffrey H. Nataupsky | ||
| Chief Financial Officer | ||
Agreed and Accepted
on behalf of each applicable Trust listed in Appendix A
| John Hancock Investment Management Distributors LLC 200 Berkeley Street Boston, MA 02116 |
|
| By: | ||
| Fernando A. Silva | ||
| Chief Financial Officer |
A copy of the document establishing each Trust is filed with the Secretary of The Commonwealth of Massachusetts. This Agreement is executed by the officer in his capacity as such and not as an individual and is not binding upon any of the Trustees, officers or shareholders of the Trusts individually but only upon the assets of the Funds.
APPENDIX A
TRUSTS and Funds
JOHN HANCOCK BOND TRUST
John Hancock ESG Core Bond Fund
John Hancock Government Income Fund
John Hancock High Yield Fund
John Hancock Investment Grade Bond Fund
John Hancock Short Duration Bond Fund
JOHN HANCOCK CALIFORNIA TAX-FREE INCOME FUND
John Hancock California Municipal Bond Fund
JOHN HANCOCK CAPITAL SERIES
John Hancock Classic Value Fund
John Hancock U.S. Global Leaders Growth Fund
JOHN HANCOCK CURRENT INTEREST
John Hancock Money Market Fund
JOHN HANCOCK INVESTMENT TRUST
John Hancock Balanced Fund
John Hancock Disciplined Value International Fund
John Hancock Diversified Macro Fund
John Hancock Diversified Real Assets Fund
John Hancock Emerging Markets Equity Fund
John Hancock ESG International Equity Fund
John Hancock ESG Large Cap Core Fund
John Hancock Fundamental Equity Income Fund
John Hancock Fundamental Large Cap Core Fund
John Hancock Global Environmental Opportunities Fund
John Hancock Global Thematic Opportunities Fund
John Hancock Infrastructure Fund
John Hancock International Dynamic Growth Fund
John Hancock Mid Cap Growth Fund
John Hancock Seaport Long/Short Fund
John Hancock Small Cap Core Fund
JOHN HANCOCK INVESTMENT TRUST II
John Hancock Financial Industries Fund
John Hancock Regional Bank Fund
JOHN HANCOCK MUNICIPAL SECURITIES TRUST
John Hancock High Yield Municipal Bond Fund
John Hancock Municipal Opportunities Fund
John Hancock Short Duration Municipal Opportunities Fund
JOHN HANCOCK SOVEREIGN BOND FUND
John Hancock Bond Fund
JOHN HANCOCK STRATEGIC SERIES
John Hancock Income Fund
A-1
APPENDIX B
| Fund |
Class A | Class B | Class C | Class R4 | Expiration Date of Waiver/Limit |
|||||||||||||||
| Balanced Fund |
N/A | N/A | N/A | 0.15 | % | 2/28/2026 | 1 | |||||||||||||
| Disciplined Value International Fund |
N/A | N/A | N/A | 0.15 | % | 2/28/2026 | 1 | |||||||||||||
| Emerging Markets Equity Fund |
N/A | N/A | N/A | 0.15 | % | 2/28/2026 | 1 | |||||||||||||
| Fundamental Large Cap Core Fund |
N/A | N/A | N/A | 0.15 | % | 2/28/2026 | 1 | |||||||||||||
| Bond Fund |
N/A | N/A | N/A | 0.15 | % | 9/30/2025 | ||||||||||||||
| California Municipal Bond Fund (formerly, California Tax-Free Income Fund) |
N/A | N/A | 0.90 | % | N/A | 9/30/2025 | ||||||||||||||
| High Yield Municipal Bond Fund |
0.15 | % | N/A | 0.90 | % | N/A | 9/30/2025 | |||||||||||||
| Income Fund |
N/A | N/A | N/A | 0.15 | % | 9/30/2025 | ||||||||||||||
| Investment Grade Bond Fund |
N/A | N/A | N/A | 0.15 | % | 9/30/2025 | ||||||||||||||
| Municipal Opportunities Fund (formerly, Tax-Free Bond) |
0.15 | % | N/A | 0.90 | % | N/A | 9/30/2025 | |||||||||||||
| Money Market Fund |
0.00 | % | N/A | 0.00 | % | N/A | 7/31/2024 | |||||||||||||
| Short Duration Municipal Opportunities Fund |
0.15 | % | N/A | 0.90 | % | N/A | 9/30/2025 | |||||||||||||
| 1 | At the December 10-12, 2024 meeting of the Board of Trustees of the Trust, the Distributor notified the Board of, and the Board approved, the extension of the limit of the Rule 12b-1 distribution fees and/or services fees for Class R4 Shares (0.15%) of Balanced Fund, Disciplined Value International Fund, Emerging Markets Equity Fund, and Fundamental Large Cap Core Fund, each with an expiration date of February 28, 2026, each effective upon the current expiration date of February 28, 2025. |
B-1