Mutual agreement

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F.7 MUTUAL AGREEMENT PURCHASE: Subject to sections 95, 96 and 97 of the Business Corporations Act, the Corporation may, without taking into account the other classes of shares, purchase by mutual agreement all or part of the fully paid Class "F" shares that it issued. However, the Corporation cannot purchase these shares for a price higher than their previously fixed redemption price. The Corporation must, within 30 days of the purchase by mutual agreement it has made of outstanding Class “F” shares, notify its other shareholders. This notice indicates the number of shares acquired, the name of the shareholders from whom the Corporation acquired these shares, the price paid for these shares and any balance due to the shareholders; if the consideration is not in cash, the notice must indicate the nature of the consideration and its value. The Corporation is not required to send this notice if all the shareholders, whether or not their shares carry the right to vote, renounce receiving it. The Corporation sends a notice to shareholders who have not informed it in writing of their desire not to receive it. The Corporation must provide, free of charge, to any shareholder who requests it, a copy of the agreement under which it acquired the Class “F” shares. The Corporation's purchase of these shares results in their cancellation. In addition, the Corporation reduces the subdivision of its issued and paid-up share capital account for these shares by the amount provided for in section 72 of the Business Corporations Act.

B.7 MUTUAL AGREEMENT PURCHASE: Subject to sections 95, 96 and 97 of the Business Corporations Act, the Corporation may, without taking into account the other classes of shares, purchase by mutual agreement all or part of the Class "B" shares that it issued. The Corporation must, within 30 days of the acquisition it has made of outstanding Class “B” shares, notify its other shareholders. This notice indicates the number of shares acquired, the name of the shareholders from whom the Corporation acquired these shares, the price paid for these shares and any balance due to the shareholders; if the consideration is not in cash, the notice must indicate the nature of the consideration and its value. The Corporation is not required to send this notice if all shareholders, whether or not their shares carry the right to vote, renounce receiving it. The Corporation sends a notice to shareholders who have not informed it in writing of their desire not to receive it. The Corporation must provide, free of charge, to any shareholder who requests it, a copy of the agreement under which it acquired the Class “B” shares. The Corporation's purchase of these shares results in their cancellation. In addition, the Corporation reduces the subdivision of its issued and paid-up share capital account for these shares by the amount provided for in section 72 of the Business Corporations Act.

The Adviser contractually agrees to waive its advisory fees and/or reimburse certain Expenses including underlying fund expenses ("Acquired fund fees") to reduce the total annual fund operating expenses of the funds listed below. This expense limitation expires on December 31, 2016, (December 31, 2017, for Retirement Living through 2060 Portfolio, Retirement Living through II 2060 Portfolio and Retirement Choices at 2060 Portfolio) unless renewed by mutual agreement of the funds listed below and the Adviser based upon a determination that this is appropriate under the circumstances at that time.

For the following Funds the current expense limitation agreement expires on December 31, 2016 (April 30, 2017 in the case of Lifestyle Aggressive Portfolio, Lifestyle Balanced Portfolio, Lifestyle Growth Portfolio, Lifestyle Moderate Portfolio, and Lifestyle Conservative Portfolio, November 30, 2016 in the case of Fundamental All Cap Core Fund, and December 31, 2017 in the case of Retirement Living through 2060, Retirement Living through II 2060, and Retirement Choices at 2060), unless renewed by mutual agreement of the Fund and the Adviser based upon a determination that this is appropriate under the circumstances at that time.

Santiago, Chile, hereinafter indistinctly called as “Li3” or the “Debtor”. MSB and Li3 hereinafter jointly called the “Parties”. The people appearing before me, all of legal age, whom I know, since they credited their identity with the aforementioned identification cards and thereby expound as follows: TITLE ONE. CLAUSE ONE: Background Information. One) The Parties are the current and only shareholders of Minera Li Energy SpA, company dealing in the business of its trade name, single taxing No. 76,102,972- K, whose equity is divided into 100 regular shares, nominative, of a single class or series and without a nominal value, being its current shareholding structure as follows: a) MSB is shareholder and title holder of 51 shares; and b) Li3 is shareholder and title holder of the remaining 49 shares. Two) January 27, 2014, the Parties acting as shareholders of Minera Li Energy SpA subscribed a shareholders’ agreement, hereinafter, the “Shareholders’ Agreement”, in which it was agreed, among other matters, the following: a) In Clause 11, 11.1, letter b) MSB’s obligation of granting Li3 a credit for the sum of $1,800,000 Dollars of the United States of America was established, for which MSB will open a financing account for the referred to sum in favor of Li3; that the Parties will subscribe in separate instruments, constituting liens without displacement over one share of Li3 in Minera Li Energy SpA, for each 100,000 Dollars of the United States of America that MSB gives to Li3; and, that the amount delivered by MSB will be paid by Li3 to MSB within the time period of 18 months starting from the subscription of the instrument that the respective mutual agreement contract contains; and, b) In Clause 11 No. 11.2.1, MSB was forced to pay Li3 a sum of one million Dollars of the United States of America for taking control of Minera Li SpA, already individualized herein. This obligation will be accrued once some of the conditions established in the Shareholders’ Agreement is complied with or no later than on January 27, 2016. Three) In compliance with Clause 11 No. 11.1 letter b) of the Shareholders’ Agreement, the Parties subscribed the following Mutual Agreement

annually. In addition, in the same instrument, and in conformance to Law 20,190 and its regulation, Li3 constituted in favor of MSB a lien without displacement over two shares that Li3 is title holder in Minera Li Energy SpA, such lien was constituted with a general guarantee clause with faithful, integral and timely compliance of all and each one of the obligations of Li3 in favor of MSB and that are directly or indirectly are related with the mutual agreement contract subscribed. The lien referred to herein above was inscribed September 3, 2014 under digest number 181,540-14 of the register of liens without displacement of the Civil Register. Similarly, it was agreed and registered a prohibition to give in lien and transfer the shares given in lien, unless MSB authorizes LI3 in writing to do so; d) Through deed dated August 27, 2014, digest number 22,464-2014, MSB delivered to Li3 the sum of $200,000 Dollars of the United States of America, LI3 being forced to return such sum in Dollars on February 27, 2016, accruing an interest rate of 8.5% annually. In addition, in the same instrument, and in conformance to Law 20,190 and its regulation, Li3 constituted in favor of MSB a lien without displacement over two shares that Li3 is title holder in Minera Li Energy SpA, such lien was constituted with a general guarantee clause with faithful, integral and timely compliance of all and each one of the obligations of Li3 in favor of MSB and that are directly or indirectly are related with the mutual agreement contract subscribed. The lien referred to herein above was inscribed on October 27, 2014 under digest number 220,097-14 of the register of liens without displacement of the Civil Register. Similarly, it was agreed and registered a prohibition to give in lien and transfer the shares given in lien, unless MSB authorizes LI3 in writing to do so; e) Through deed dated October 21, 2014, digest number 27,893- 2014, MSB delivered to Li3 the sum of $200,000 Dollars of the United States of America, LI3 being forced to return such sum in Dollars on April 15, 2016, accruing an interest rate of 8.5% annually. In addition, in the same instrument, and in conformance to Law 20,190 and its regulation, Li3 constituted in favor

Contracts and constituting liens: a) Through deed dated May 27, 2014, digest number 12.969-2014, MSB delivered to Li3 the sum of $100,000 Dollars of the United States of America, LI3 being forced to return such sum in Dollars on November 27, 2015, accruing an interest rate of 8.5% annually. In addition, in the same instrument, and in conformance to Law 20,190 and its regulation, Li3 constituted in favor of MSB a lien without displacement over one share that Minera Li Energy SpA is title holder of, such lien was constituted with a general guarantee clause with faithful, integral and timely compliance of all and each one of the obligations of Li3 in favor of MSB and that are directly or indirectly are related with the mutual agreement contract subscribed. Similarly, a prohibition to levy and transfer the share pledged in lien was agreed to and registered, unless MSB authorizes LI3 in writing to do so; b) Through deed dated June 11, 2014, digest number 14.597-2014, MSB delivered to Li3 the sum of $140,000 Dollars of the United States of America, LI3 being forced to return such sum in Dollars on December 10, 2015, accruing an interest rate of 8.5% annually. In addition, in the same instrument, and in conformance to Law 20,190 and its regulation, Li3 constituted in favor of MSB a lien without displacement over two shares that Li3 is title holder in Minera Li Energy SpA, such lien was constituted with a general guarantee clause with faithful, integral and timely compliance of all and each one of the obligations of Li3 in favor of MSB and that are directly or indirectly are related with the mutual agreement contract subscribed. The lien referred to herein above was inscribed on July 3, 2014 under digest number 137,737-14, of the register of liens without displacement of the Civil Register. Similarly, it was agreed and registered a prohibition to give in lien and transfer the shares given in lien, unless MSB authorizes LI3 in writing to do so; c) Through deed dated July 23, 2014, digest number 18,798-2014, MSB delivered to Li3 the sum of $200,000 Dollars of the United States of America, LI3 being forced to return such sum in Dollars on January 23, 2016, accruing an interest rate of 8.5%

above appearance. Three) Enforceability. The Owed Sum will be enforceable on January 19, 2018. Four) Interests. Between the subscription date of this instrument and the effective payment day of the Owed Sum, the same will accrue interests at an annual rate equal to 8.5% annually. Therefore, as of January 19, 2018 – date in which it will be demandable – the interests will be equal to $77,439 Dollars of the United States of America. TITLE FOUR. Cancellation of the debt of a lien without displacement. CLAUSE FIVE: One) According to what is evident in the Mutual Agreement Contracts and in number Three) of Clause One of this instrument, Li3 constituted in favor of MSB liens without displacement over a total of thirteen shares that Li3 is title holder of, in Minera Li Energy SpA, already individualized. Such liens were constituted with a general guarantee clause with faithful, integral and timely compliance of all and each one of the obligations of Li3 in favor of MSB and that are directly or indirectly related to the Mutual Agreement Contracts. The inscription data of the liens constituted are evident in number Three) of Clause one of this instrument. Two) Through this act, MSB duly represented herein, eliminates debt and cancels all the liens without displacement and prohibitions constituted in the Mutual Agreement Contracts, cancels its respective inscriptions, already individualized in number Three) of Clause One of this deed, in such a way that the thirteen shares are released from such encumbrances and prohibitions, and declares that Li3 has complied with the overall total of the obligations guaranteed by the Mutual Agreement Contracts to date at its entire satisfaction, consequently considering them as fully and totally paid. Three) In virtue of the aforementioned and the compensation agreed to in Clause Two of this instrument, MSB grants Li3 the most extensive, total and complete termination of all the obligations derived from the Mutual Agreement Contracts and waives all the actions that could be derived from the same. TITLE FIVE. Line. CLAUSE SIX: One) Background Information on Debt Recognition. According to what is provided for in Clause Four above,

of MSB a lien without displacement over two shares that Li3 is title holder in Minera Li Energy SpA, such lien was constituted with a general guarantee clause with faithful, integral and timely compliance of all and each one of the obligations of Li3 in favor of MSB and that are directly or indirectly are related with the mutual agreement contract subscribed. The lien referred to herein above was inscribed on November 13, 2014 under digest number 232,448-14 of the register of liens without displacement of the Civil Register. Similarly, it was agreed and registered a prohibition to give in lien and transfer the shares given in lien, unless MSB authorizes LI3 in writing to do so; f) Through deed dated November 25, 2014, digest number 31,491-2014, MSB delivered to Li3 the sum of $180,000 Dollars of the United States of America, LI3 being forced to return such sum in Dollars on May 25, 2016, accruing an interest rate of 8.5% annually. In addition, in the same instrument, and in conformance to Law 20,190 and its regulation, Li3 constituted in favor of MSB a lien without displacement over two shares that Li3 is title holder in Minera Li Energy SpA, such lien was constituted with a general guarantee clause with faithful, integral and timely compliance of all and each one of the obligations of Li3 in favor of MSB and that are directly or indirectly are related with the mutual agreement contract subscribed. The lien referred to herein above was inscribed on December 19, 2014 under digest number 247,890-14 of the register of liens without displacement of the Civil Register. Similarly, it was agreed and registered a prohibition to give in lien and transfer the shares given in lien, unless MSB authorizes LI3 in writing to do so; y, g) Through deed dated February 3, 2015, digest number 3,442-2015, MSB delivered to Li3 the sum of $200,000 Dollars of the United States of America, LI3 being forced to return such sum in Dollars on August 3, 2016, accruing an interest rate of 8.5% annually. In addition, in the same instrument, and in conformance to Law 20,190 and its regulation, Li3 constituted in favor of MSB a lien without displacement over two shares that Li3 is title holder in Minera Li Energy SpA, such lien was

body, debts are demandable, up to the one of less occurrence, by compensation that operated by the sole ministry of the law, in this act the Parties expressly agree to a conventional compensation of the credits stated in numbers One) and Two) prior to this Clause, in accordance with what is provided for in the already mentioned articles of the Civil Code. Five) In virtue of the conventional compensation agreed to by the Parties in the prior number, the referred to debt of MSB in favor of Li3 have been totally paid for. Six) In turn, the debt that LI3 had in favor of MSB has been partially paid off up to the sum of $1,000,000 Dollars of the United States of America. Seven) As a result of the compensation that has operated among the Parties, these declare that Li3 owes to MSB the sum of $220,000 Dollars, plus accrued interests up to this date and agreed to in the Mutual Agreement Contracts, which amount to the sum of $134,901 Dollars of the United States of America. Therefore, the Parties declare that Li3 owes MSB the amount of $354,901 Dollars of the United States of America, sum that will be paid in conformance with what is provided for in the following clause. TITLE THREE. Debt recognition. CLAUSE FOUR: One) Recognition of debt by Li3. In this act, Li3 recognizes owing MSB, the amount equal to $354,901 Dollars of the United States of America, sum that is broken down in the following amounts: i) $354,901 Dollars of the United States of America, due to the partial compensation that is accounted for in the prior Clause; and, ii) $100,000 Dollars of the United States of America, that MSB delivers in this act to Li3, the later declaring that they have received such sum to their entire satisfaction. Two) Payment. Li3 declares that it will fully pay to MSB, or to whomever legally succeeds it, the sum of $484,901 Dollars of the United States of America, the “Owed Sum” corresponding to what is indicated in numbers One) and Two) above, in their equivalent in Pesos at the value of the observed dollar on the prior day informed by the Central Bank of Chile, in the checking account No. 847-01321-09 of Banco de Chile, on behalf of MSB or at the residence established in the

constituted with a general guarantee clause with faithful, integral and timely compliance of all and each one of the obligations of Li3 in favor of MSB and that are directly or indirectly are related with the mutual agreement contract subscribed. The lien referred to herein above was inscribed on April 13, 2015 under digest number 73,282-15 of the register of liens without displacement of the Civil Register. Similarly, a prohibition to levy and transfer the share pledged in lien was agreed to and registered, unless MSB authorizes LI3 in writing to do so; All the deeds singularized in No. 3) of this Clause were subscribed in the Pubic Notary of Santiago of Eduardo Avello Concha, hereinafter the “Mutual Agreement Contracts”. TITLE TWO. Conventional Compensation. CLAUSE TWO: One) According to what is indicated in Clause One above, and specially according to the Mutual Agreement Contracts, Li3 owes MSB the amount of $1,220,000 Dollars of the United States of America. Compliance of the obligation considered in the contract individualized in letter a) of No. Three) of Clause One above is demandable on November 27, 2015 in reference to the obligations considered in the contracts singularized in letters b) to g) of the same number and clause already mentioned herein above, the Parties leave evidence that these will be demandable in the dates considered in each one of the respective contracts. Two) In turn, MSB owes Li3 the sum of $1,000,000 Dollars of the United States of America, according to what is evident in letter b) number Dos) of Clause One above. Compliance of this obligation will be demandable starting January 27, 2016. Three) In this act, the Parties waive the pending time periods, mentioned herein above. Due to the aforementioned waiving, the obligations of Li3 and MSB, indicated in numbers One) and Two) prior to this Clause, go on to be currently demandable. Four) In conformance with Articles 1655 and those that follow of the Civil Code and whereas that both Parties are Debtors in a reciprocal manner that such debts are liquid and currently demandable and without detriment of deeming that, in conformance with what is provided for in Article 1656 of the aforementioned legal

For the following Funds the current expense limitation agreement expires on December 31, 2016 (April 30, 2016 in the case of Lifestyle Aggressive Portfolio, Lifestyle Balanced Portfolio, Lifestyle Growth Portfolio, Lifestyle Moderate Portfolio, and Lifestyle Conservative Portfolio, and November 30, 2016 in the case of Fundamental All Cap Core Fund), unless renewed by mutual agreement of the Fund and the Adviser based upon a determination that this is appropriate under the circumstances at that time.

For the following Funds the current expense limitation agreement expires on December 31, 2015 (December 31, 2014 in the case of Lifestyle II Aggressive Portfolio, Lifestyle II Balanced Portfolio, Lifestyle II Growth Portfolio, Lifestyle II Moderate Portfolio and Lifestyle II Conservative Portfolio), unless renewed by mutual agreement of the Fund and the Adviser based upon a determination that this is appropriate under the circumstances at that time.

The Adviser contractually agrees to waive its advisory fees and/or reimburse certain Expenses including underlying fund expenses ("Acquired fund fees") to reduce the total annual fund operating expenses of the funds by the amounts listed below. These expense limitations expire on December 31, 2015, unless renewed by mutual agreement of the funds listed below and the Adviser based upon a determination that this is appropriate under the circumstances at that time.

The advisor has contractually agreed to reduce its management fee and/or make payment to the fund in an amount equal to the amount by which "Other expenses" of the fund exceed 0.05% of the average annual net assets (on an annualized basis) of the fund. "Other expenses" means all of the expenses of the fund, excluding certain expenses such as advisory fees, taxes, brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the fund's business, distribution and service (Rule 12b-1) fees, transfer agency and service fees, blue sky fees, printing and postage, underlying fund expenses (acquired fund fees), and short dividend expense. The current expense limitation agreement expires on December 31, 2015, unless renewed by mutual agreement of the fund and the advisor based upon a determination that this is appropriate under the circumstances at that time. The advisor may recapture operating expenses reimbursed or fees waived under previous expense limitation or waiver arrangements for a period of three years following the month in which the reimbursements or waivers occurred to the extent that the fund is below its expense limitation during this period.

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