Common use of Establishment and Designation of Sub-Trusts Clause in Contracts

Establishment and Designation of Sub-Trusts. Without limiting the authority of the Trustees set forth in Section 4.1 to establish and designate any further Sub-Trusts, the Trustees hereby establish and designate the following Sub-Trusts: 2010 Strategy Fund 2015 Strategy Fund 2020 Strategy Fund 2025 Strategy Fund 2030 Strategy Fund 2035 Strategy Fund 2040 Strategy Fund 2045 Strategy Fund 2050 Strategy Fund In Retirement Fund 2017 Accelerated Distribution Fund – A Shares 2017 Retirement Distribution Fund – A Shares 2027 Extended Distribution Fund – A Shares 2017 Accelerated Distribution Fund – S Shares 2017 Retirement Distribution Fund – S Shares 2027 Extended Distribution Fund – S Shares Conservative Strategy Fund Moderate Strategy Fund Balanced Strategy Fund Equity Growth Strategy Fund Growth Strategy Fund ▇▇▇▇▇▇▇ Tax-Managed Global Equity Fund ▇▇▇▇▇▇▇ U.S. Core Equity Fund ▇▇▇▇▇▇▇ U.S. Quantitative Equity Fund ▇▇▇▇▇▇▇ U.S. Growth Fund ▇▇▇▇▇▇▇ U.S. Value Fund ▇▇▇▇▇▇▇ U.S. Small & Mid Cap Fund ▇▇▇▇▇▇▇ International Developed Markets Fund ▇▇▇▇▇▇▇ Global Equity Fund ▇▇▇▇▇▇▇ Emerging Markets Fund ▇▇▇▇▇▇▇ Tax-Managed U.S. Large Cap Fund ▇▇▇▇▇▇▇ Tax-Managed U.S. Mid & Small Cap Fund ▇▇▇▇▇▇▇ Strategic Bond Fund ▇▇▇▇▇▇▇ Investment Grade Bond Fund ▇▇▇▇▇▇▇ ▇▇▇▇▇ Duration Bond Fund ▇▇▇▇▇▇▇ Tax Exempt Bond Fund ▇▇▇▇▇▇▇ Real Estate Securities Fund ▇▇▇▇▇▇▇ Money Market Fund ▇▇▇▇▇▇▇ Flex Equity Fund Shares of the above-referenced Sub-Trusts and any Shares of any further Sub-Trusts that may from time to time be established and designated by the Trustees shall (unless the Trustees otherwise determine with respect to some further Sub-Trust at the time of establishing and designating the same) have the following relative rights and preferences, and the power of the Trustees to establish relative rights and preferences of Sub-Trusts pursuant to this Section 4.2 shall not detract from or limit the power of the Trustees under Section 4.1 to determine and set the relative rights and preferences of any Class thereof:

Establishment and Designation of Sub-Trusts. Without limiting the authority of the Trustees set forth in Section 4.1 to establish and designate any further Sub-Trusts, the Trustees hereby establish and designate the following Sub-Trusts: 2010 Strategy Fund 2015 Strategy Fund 2020 Strategy Fund 2025 Strategy Fund 2030 Strategy Fund 2035 Strategy Fund 2040 Strategy Fund 2045 Strategy Fund 2050 Strategy Fund In Retirement Fund 2017 Accelerated Distribution Fund – A Shares 2017 Retirement Distribution Fund – A Shares 2027 Extended Distribution Fund – A Shares 2017 Accelerated Distribution Fund – S Shares 2017 Retirement Distribution Fund – S Shares 2027 Extended Distribution Fund – S Shares Conservative Strategy Fund Moderate Strategy Fund Balanced Strategy Fund Growth Strategy Fund (formerly Aggressive Strategy Fund) Equity Growth Strategy Fund Growth (formerly Equity Aggressive Strategy Fund ▇▇▇▇▇▇▇ and prior to that, Equity Balanced Strategy Fund) 2010 Strategy Fund 2020 Strategy Fund 2030 Strategy Fund 2040 Strategy Fund 2007 Retirement Distribution Fund 2007 Accelerated Distribution Fund 2007 Extended Distribution Fund Equity I Fund Equity Q Fund Equity II Fund International Fund Fixed Income I Fund Fixed Income III Fund Real Estate Securities Fund Emerging Markets Fund Short Duration Bond Fund (formerly Short-Term Bond Fund and prior to that, formerly Fixed Income II Fund and survivor and by merger of Volatility Constrained Bond Fund) Diversified Equity Fund Quantitative Equity Fund Global Equity Fund Tax-Managed Large Cap Fund (formerly Equity T Fund) Special Growth Fund Tax-Managed Mid & Small Cap Fund (formerly Tax-Managed Small Cap Fund) International Securities Fund Diversified Bond Fund Multistrategy Bond Fund Tax Exempt Bond Fund (formerly Limited Volatility Tax Free Fund) Select Growth Fund Select Value Fund Tax-Managed Global Equity Fund ▇▇▇▇▇▇▇ U.S. Core Equity Fund ▇▇▇▇▇▇▇ U.S. Quantitative Equity Fund ▇▇▇▇▇▇▇ U.S. Growth Fund ▇▇▇▇▇▇▇ U.S. Value Fund ▇▇▇▇▇▇▇ U.S. Small & Mid Cap Fund ▇▇▇▇▇▇▇ International Developed Markets Fund ▇▇▇▇▇▇▇ Global Equity Fund ▇▇▇▇▇▇▇ Emerging Markets Fund ▇▇▇▇▇▇▇ (formerly Tax-Managed Equity Aggressive Strategy Fund) Money Market Fund Tax Free Money Market Fund U.S. Large Cap Fund ▇▇▇▇▇▇▇ Tax-Managed U.S. Mid & Small Cap Fund ▇▇▇▇▇▇▇ Strategic Bond Fund ▇▇▇▇▇▇▇ Investment Grade Bond Fund ▇▇▇▇▇▇▇ ▇▇▇▇▇ Duration Bond Fund ▇▇▇▇▇▇▇ Tax Exempt Bond Fund ▇▇▇▇▇▇▇ Real Estate Securities Fund ▇▇▇▇▇▇▇ Government Money Market Fund ▇▇▇▇▇▇▇ Flex Equity Multi-Manager Principal Protected Fund • The Shares of the above-referenced Sub-Trusts and any Shares of any further Sub-Trusts that may from time to time Global Equity Fund shall be established and designated by as follows: Global Equity Fund A, C, E, S • Without limiting the Trustees shall (unless the Trustees otherwise determine with respect to some further Sub-Trust at the time of establishing and designating the same) have the following relative rights and preferences, and the power authority of the Trustees set forth in Section 4.1 of the Agreement to establish relative and designate any further classes of any Sub-Trusts, and without affecting the rights and preferences of any existing Sub-Trusts pursuant to this Section 4.2 shall not detract from Trust or limit class of any existing Sub-Trust, the power Trustees hereby establish and designate a new Class A Shares for the for the existing Diversified Equity, Quantitative Equity, Special Growth, Real Estate Securities, International Securities, Emerging Markets, Short Duration Bond and Multistrategy Bond Funds. In furtherance thereof, the Trustees direct that new Class A Shares of the Trustees under Section 4.1 to determine existing Diversified Equity, Quantitative Equity, Special Growth, Real Estate Securities, International Securities, Emerging Markets, Short Duration Bond and set Multistrategy Bond Funds shall have all the relative rights and preferences set forth in Section 4.2 and 4.3 of any Class thereofthe Agreement, shall represent an equal proportionate interest in the underlying assets and liabilities of the Sub-Trusts, and shall generally have identical voting, dividend, liquidation and other rights, preferences, powers, restrictions, limitations, obligations, qualifications and terms and conditions as all other Shares of such Sub-Trust, except as set forth in the Agreement. • In order to clarify the current Classes of the Sub-Trusts which the Trustees have established and designated and remove references to Classes of Sub-Trusts previously established and designated which never commenced operations, Section 4.3 is hereby amended and restated in its entirety as follows:

Establishment and Designation of Sub-Trusts. Without limiting the authority of the Trustees set forth in Section 4.1 to establish and designate any further Sub-Trusts, the Trustees hereby establish and designate the following eleven Sub-Trusts: 2010 ; the "Precious Metals and Minerals Fund," the "Cornerstone Strategy Fund 2015 Fund," the "International Fund," the "Growth and Tax Strategy Fund 2020 Fund," the "Treasury Money Market Trust," the "GNMA Trust," the "World Growth Fund," the "Emerging Markets Fund," the "Growth Strategy Fund 2025 Fund," the "Income Strategy Fund 2030 Strategy Fund 2035 Strategy Fund 2040 Strategy Fund 2045 Strategy Fund 2050 Strategy Fund In Retirement Fund 2017 Accelerated Distribution Fund – A Shares 2017 Retirement Distribution Fund – A Shares 2027 Extended Distribution Fund – A Shares 2017 Accelerated Distribution Fund – S Shares 2017 Retirement Distribution Fund – S Shares 2027 Extended Distribution Fund – S Shares Conservative Strategy Fund Moderate Strategy Fund Fund," and the "Balanced Strategy Fund Equity Fund." The Precious Metals and Minerals Fund, Cornerstone Strategy Fund, International Fund, Growth and Tax Strategy Fund, Treasury Money Market Trust, GNMA Trust, World Growth Fund, Emerging Markets Fund, Growth Strategy Fund Growth Fund, Income Strategy Fund ▇▇▇▇▇▇▇ Tax-Managed Global Equity Fund ▇▇▇▇▇▇▇ U.S. Core Equity Fund ▇▇▇▇▇▇▇ U.S. Quantitative Equity Fund ▇▇▇▇▇▇▇ U.S. Growth Fund ▇▇▇▇▇▇▇ U.S. Value Fund ▇▇▇▇▇▇▇ U.S. Small & Mid Cap Fund ▇▇▇▇▇▇▇ International Developed Markets Fund ▇▇▇▇▇▇▇ Global Equity Fund ▇▇▇▇▇▇▇ Emerging Markets Fund ▇▇▇▇▇▇▇ Tax-Managed U.S. Large Cap Fund ▇▇▇▇▇▇▇ Tax-Managed U.S. Mid & Small Cap Fund ▇▇▇▇▇▇▇ Strategic Bond Fund ▇▇▇▇▇▇▇ Investment Grade Bond Fund ▇▇▇▇▇▇▇ ▇▇▇▇▇ Duration Bond Fund ▇▇▇▇▇▇▇ Tax Exempt Bond Fund ▇▇▇▇▇▇▇ Real Estate Securities Fund ▇▇▇▇▇▇▇ Money Market Fund ▇▇▇▇▇▇▇ Flex Equity Fund Shares of the above-referenced Sub-Trusts Fund, and Balanced Strategy Fund, and any Shares of any further Sub-Trusts that may from time to time be established and designated by the Trustees shall (unless the Trustees otherwise determine with respect to some further Sub-Trust at the time of establishing and designating the same) have the following relative rights and preferences, :" 2. AMENDMENT TO SECTION 4.2(D). The last sentence of Section 4.2(d) of the Agreement is hereby deleted and the power following is substituted therefor: The liquidation of any particular Sub-Trust may be authorized by vote of majority of the Trustees to establish relative rights and preferences then in office without the approval of shareholders of such Sub-Trusts pursuant to this Section 4.2 shall not detract from or limit Trust; provided, however, that the power liquidation of the Trustees under Growth and Tax Strategy Fund, Cornerstone Strategy Fund, Emerging Markets Fund, Precious Metals and Minerals Fund, International Fund, World Growth Fund, GNMA Trust and Treasury Money Market Trust shall be subject to the approval of a majority of the outstanding voting Shares of the Sub-Trust, as defined in the 1940 Act. 3. AMENDMENT TO SECTION 7.2. Section 4.1 to determine 7.2 of the Agreement is hereby deleted in its entirety and set the relative rights and preferences of any Class thereoffollowing is substituted therefor:

Establishment and Designation of Sub-Trusts. Without limiting the authority of the Trustees set forth in Section 4.1 of the Agreement to establish and designate any further sub-trusts, and without affecting rights and preferences of the existing sub-trusts or class of any Sub-Trust, the Trustees hereby re-designate the following sub-trusts: 2017 Moderate Distribution Strategy Fund – A Shares 2007 Retirement Distribution Fund 2017 Enhanced Distribution Strategy Fund – A Shares 2007 Accelerated Distribution Fund 2027 Moderate Distribution Strategy Fund – A Shares 2007 Extended Distribution Fund And amend Article IV to delete each of the following names in each place where such names appear: 2017 Moderate Distribution Strategy Fund – S Shares 2017 Enhanced Distribution Strategy Fund – S Shares 2027 Moderate Distribution Strategy Fund – S Shares • Without limiting the authority of the Trustees set forth in Section 4.1 of the Agreement to establish and designate any further Sub-Trusts, and without affecting the rights and preferences of any existing Sub-Trust or class of any existing Sub-Trust, the Trustees hereby establish and designate the following Sub-Trusts: 2010 Strategy Fund 2015 Strategy Fund 2020 Strategy Fund 2025 Strategy Fund 2030 Strategy Fund 2035 Strategy Fund 2040 Strategy Fund 2045 Strategy Fund 2050 Strategy Fund In Retirement Fund 2017 Accelerated Distribution Fund – A Shares 2017 Retirement Distribution Fund – A Shares 2027 Extended Distribution Fund – A Shares 2017 Accelerated Distribution Fund – S Shares 2017 Retirement Distribution Fund – S Shares 2027 Extended Distribution Fund – S Shares Conservative Strategy Fund Moderate Strategy Fund Balanced Strategy Fund Equity Growth Strategy Fund Growth Strategy Fund ▇▇▇▇▇▇▇ Tax-Managed Global Equity Fund ▇▇▇▇▇▇▇ U.S. Core Equity Fund ▇▇▇▇▇▇▇ U.S. Quantitative Equity Fund ▇▇▇▇▇▇▇ U.S. Growth Fund ▇▇▇▇▇▇▇ U.S. Value Fund ▇▇▇▇▇▇▇ U.S. Small & Mid Cap Fund ▇▇▇▇▇▇▇ International Developed Markets Fund ▇▇▇▇▇▇▇ Global Equity Fund ▇▇▇▇▇▇▇ Emerging Markets Fund ▇▇▇▇▇▇▇ Tax-Managed U.S. Large Cap Fund ▇▇▇▇▇▇▇ Tax-Managed U.S. Mid & Small Cap Fund ▇▇▇▇▇▇▇ Strategic Bond Fund ▇▇▇▇▇▇▇ Investment Grade Bond Fund ▇▇▇▇▇▇▇ ▇▇▇▇▇ Duration Bond Fund ▇▇▇▇▇▇▇ Tax Exempt Bond Fund ▇▇▇▇▇▇▇ Real Estate Securities Fund ▇▇▇▇▇▇▇ Money Market Fund ▇▇▇▇▇▇▇ Flex Equity Fund Shares of the above-referenced Sub-Trusts and any Shares of any further Sub-Trusts that may from time to time be established and designated by the Trustees shall (unless the Trustees otherwise determine with respect to some further one additional Sub-Trust at designated as the time of establishing and designating the same) have the following relative rights and preferences, and the power of the Trustees to establish relative rights and preferences of Global Equity Fund. This Sub-Trusts pursuant to this Section 4.2 Trust shall not detract from or limit the power of the Trustees under Section 4.1 to determine and set have all the relative rights and preferences granted by the Agreement to the existing Sub-Trusts including those listed in Section 4.2 of any Class the Agreement. In furtherance thereof, the Trustees direct that the new Shares shall have all the relative rights and preferences set forth in Section 4.2 of the Agreement, shall represent an equal proportionate interest in the underlying assets and liabilities of that Sub-Trust, and shall generally have identical voting, dividend, liquidation and other rights, preferences, powers, restrictions, limitations, obligations, qualifications and terms and conditions as all other Shares of such Sub-Trust, except as set forth in the Amended and Restated Master Trust Agreement. • In order to clarify the current Sub-Trusts which the Trustees have established and designated and remove references to Sub-Trusts previously established and designated which never commenced operations, the first paragraph of Section 4.2 is hereby amended and restated in its entirety as follows: