JOHN HANCOCK FUNDS AMENDMENT TO SUB-ADVISORY AGREEMENT John Hancock Asset Management a division of Manulife Asset Management (US) LLC
Exhibit 99.(d).3
▇▇▇▇ ▇▇▇▇▇▇▇ FUNDS
AMENDMENT TO SUB-ADVISORY AGREEMENT
▇▇▇▇ ▇▇▇▇▇▇▇ Asset Management a division of
Manulife Asset Management (US) LLC
AMENDMENT made as of this 17th day of May, 2013 to the Sub-Advisory Agreement dated December 31, 2005, as amended (the “Agreement”), among ▇▇▇▇ ▇▇▇▇▇▇▇ Advisers, LLC, a Delaware limited liability company (the “Adviser”), ▇▇▇▇ ▇▇▇▇▇▇▇ Asset Management a division of Manulife Asset Management (US) LLC (formerly, Sovereign Asset Management, LLC), a Delaware limited liability company (the “Sub-adviser”), and each of the investment companies that is a signatory to the Agreement. In consideration of the mutual covenants contained herein, the parties agree as follows:
1. Section 2.c is amended and restated as follows:
The Sub-adviser will select brokers, dealers, futures commission merchants and other counterparties to effect all transactions for each Fund, including without limitation, with respect to transactions in securities, derivatives, foreign currency exchange, commodities and/or any other investments. The Sub-adviser will place all orders with brokers, dealers, counterparties or issuers, and will negotiate brokerage commissions, spreads and other financial and non-financial terms, as applicable. The Sub-adviser will always seek the best possible price and execution in the circumstances in all transactions. Subject to the foregoing, the Sub-adviser is directed at all times to seek to execute transactions for each Fund in accordance with its trading policies, as disclosed by the Sub-adviser to the Fund from time to time, but in all cases subject to policies and practices established by the Fund and described in the applicable Trust’s registration statement. Notwithstanding the foregoing, the Sub-adviser may pay a broker-dealer that provides research and brokerage services a higher spread or commission for a particular transaction than otherwise might have been charged by another broker-dealer to the extent permitted by Section 28(e) of the Securities Exchange Act of 1934 and by the applicable Trust’s registration statement, if the Sub-adviser determines that the higher spread or commission is reasonable in relation to the value of the brokerage and research services that such broker-dealer provides, viewed in terms of either the particular transaction or the Sub-adviser’s overall responsibilities with respect to accounts managed by the Sub-adviser. The Sub-adviser may use for the benefit of the Sub-adviser’s other clients, or make available to companies affiliated with the Sub-adviser or to its directors for the benefit of its clients, any such brokerage and research services that the Sub-adviser obtains from brokers or dealers.
2. Effective Date
This Amendment shall become effective upon the later to occur of: (i) approval of the Amendment by the Board of Trustees of the ▇▇▇▇ ▇▇▇▇▇▇▇ trusts that are a signatory hereto, and (ii) execution of the Amendment.
3. Miscellaneous
Except as set forth herein, all provisions of the Agreement shall remain in full force and effect. This Amendment may be executed in two or more counterparts, each of which shall be deemed to be an original but all of which together shall constitute one and the same Amendment.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed under seal by their duly authorized officers as of the date first mentioned above.
▇▇▇▇ ▇▇▇▇▇▇▇ ADVISERS, LLC
| By: | /s/ ▇▇▇ ▇▇▇▇▇▇▇ | |||
| Name: | ▇▇▇ ▇▇▇▇▇▇▇ | |||
| Title: | Senior Vice President and Chief Investment Officer |
▇▇▇▇ ▇▇▇▇▇▇▇ ASSET MANAGEMENT A DIVISION OF
MANULIFE ASSET MANAGEMENT (US) LLC
| By: | /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ | |||
| Name: | ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ | |||
| Title: | Chief Administrative Officer |
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed under seal by their duly authorized officers as of the date first mentioned above.
▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ TRUST
on behalf of
▇▇▇▇ ▇▇▇▇▇▇▇ Government Income Fund
▇▇▇▇ ▇▇▇▇▇▇▇ High Yield Fund
▇▇▇▇ ▇▇▇▇▇▇▇ Investment Grade Bond Fund
▇▇▇▇ ▇▇▇▇▇▇▇ CALIFORNIA TAX-FREE INCOME FUND
▇▇▇▇ ▇▇▇▇▇▇▇ CURRENT INTEREST
on behalf of
▇▇▇▇ ▇▇▇▇▇▇▇ Money Market Fund
▇▇▇▇ ▇▇▇▇▇▇▇ INVESTMENT TRUST
on behalf of
▇▇▇▇ ▇▇▇▇▇▇▇ Balanced Fund
▇▇▇▇ ▇▇▇▇▇▇▇ Global Opportunities Fund
▇▇▇▇ ▇▇▇▇▇▇▇ Large Cap Equity Fund
▇▇▇▇ ▇▇▇▇▇▇▇ Small Cap Intrinsic Value Fund
▇▇▇▇ ▇▇▇▇▇▇▇ Sovereign Investors Fund
▇▇▇▇ ▇▇▇▇▇▇▇ INVESTMENT TRUST II
on behalf of
▇▇▇▇ ▇▇▇▇▇▇▇ Financial Industries Fund
▇▇▇▇ ▇▇▇▇▇▇▇ Regional Bank Fund
▇▇▇▇ ▇▇▇▇▇▇▇ Small Cap Equity Fund
▇▇▇▇ ▇▇▇▇▇▇▇ MUNICIPAL SECURITIES TRUST
on behalf of
▇▇▇▇ ▇▇▇▇▇▇▇ High Yield Municipal Bond Fund
▇▇▇▇ ▇▇▇▇▇▇▇ Tax-Free Bond Fund
▇▇▇▇ ▇▇▇▇▇▇▇ SERIES TRUST
on behalf of
▇▇▇▇ ▇▇▇▇▇▇▇ Mid Cap Equity Fund
▇▇▇▇ ▇▇▇▇▇▇▇ SOVEREIGN BOND FUND
on behalf of
▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ Fund
▇▇▇▇ ▇▇▇▇▇▇▇ STRATEGIC SERIES
on behalf of
▇▇▇▇ ▇▇▇▇▇▇▇ Income Fund
▇▇▇▇ ▇▇▇▇▇▇▇ TAX-EXEMPT SERIES FUND
on behalf of
▇▇▇▇ ▇▇▇▇▇▇▇ Massachusetts Tax-Free Income Fund
▇▇▇▇ ▇▇▇▇▇▇▇ New York Tax-Free Income Fund
▇▇▇▇ ▇▇▇▇▇▇▇ FINANCIAL OPPORTUNITIES FUND
▇▇▇▇ ▇▇▇▇▇▇▇ INCOME SECURITIES TRUST
▇▇▇▇ ▇▇▇▇▇▇▇ INVESTORS TRUST
▇▇▇▇ ▇▇▇▇▇▇▇ PREFERRED INCOME FUND
▇▇▇▇ ▇▇▇▇▇▇▇ PREFERRED INCOME FUND II
▇▇▇▇ ▇▇▇▇▇▇▇ PREFERRED INCOME FUND III
▇▇▇▇ ▇▇▇▇▇▇▇ PREMIUM DIVIDEND FUND
▇▇▇▇ ▇▇▇▇▇▇▇ STRATEGIC DIVERSIFIED INCOME FUND
▇▇▇▇ ▇▇▇▇▇▇▇ TAX-ADVANTAGED DIVIDEND INCOME FUND
Executed on behalf of each Trust and its relevant
Series referenced above:
| By: | /s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇ | |||
| Name: | ▇▇▇▇ ▇▇▇▇▇▇▇▇ | |||
| Title: | President | |||