The JPMT II Advisory Agreement can be terminated for a particular Fund at any time within 60 days. written notice without penalty by the Trustees, by a vote of the majority of the outstanding shares of that Fund, or by the Fund Advisor, as the case may be. JPMIA Consulting Agreement Also Ends automatically in the event of a transfer within the meaning of the 1940 law.

In remuneration for services rendered and related expenses, such as advisers’ salaries personnel supported by JPMIM, under the JPMT II Advisory Agreement, applicable trusts, on behalf of the Funds, have agreed to pay JPMIM a commission, which is calculated daily and may be paid monthly, equal to the annual rate of the average daily net assets of each Fund as described in the applicable Prospectuses.

The JPMT II Advisory Agreement provides that the advisor will not be liable for any error in judgment or error of law or for any loss suffered by the Trust in the performance of the respective investment advisory contract, with the exception of a loss resulting from a breach of a fiduciary duty with with respect to the receipt of compensation for services or loss resulting from willful misconduct, bad faith, or gross negligence on the part of the Advisor in the performance of his duties, or through reckless negligence by it of its duties and obligations arising therefrom.

JP Morgan Private Investments, Inc.

(“JPMPI”). JPMPI was contracted by JPMIM to serve as investment sub-advisor of the JPMorgan Access Balanced Fund and the JPMorgan Access Growth Fund (the “JPMPI Sub-Advisor Agreement”). JPMPI is a wholly owned subsidiary of JPMorgan Chase & Co. JPMPI is located at 383 Madison Avenue, New York, NY 10179.

JPMPI receives monthly by JPMIM a commission equal to a percentage of the daily average net assets of the JPMorgan Access Balanced Fund and JPMorgan Access Growth Fund. The overall annual rate of the fees payable by JPMIM to JPMPI are 0.75% of the portion of each of the JPMorgan Access Balanced Fund and the average daily net assets of JPMorgan Access Growth Fund managed by JPMPI.

The JPMPI Sub-Advisor Agreement will remain in effect for a period of two years from the date of its execution, unless it is terminated earlier. It can be renewed from year to year thereafter, provided that
the extension is expressly approved at least once a year in accordance with the requirements of the 1940 Act.

The JPMPI sub-advisor agreement provides that it will terminate in the event of “assignment” (as defined in the 1940 law), and can be terminated without penalty at any time by either party at 60 days of written notice, or upon termination of the JPMIM consulting contract. According to the
JPMPI Sub-Advisory Agreement, JPMPI is not responsible to JPMIM, the JPMorgan Access Balanced Fund or the JPMorgan Access Growth Fund, or their shareholders, for any error in judgment or error of law or
for any loss suffered by JPMIM, the JPMorgan Access Balanced Fund or the JPMorgan Access Growth Funds or their shareholders, except in cases of willful misconduct, bad faith, gross negligence of JPMPI or an irresponsible breach of obligations or duties under the JPMPI Sub-Advisor Agreement.

Fuller & Thaler Asset Management, Inc. (“Fuller & Thaler”). Fuller & Thaler served as sub-advisor of the Undiscovered Managers Behavioral Value Fund (the “Behavioral Value Fund”) for Life of the Fund. As a sub-advisor, Fuller & Thaler ensures the day-to-day management of the Fund’s portfolio. Fuller & Thaler is located at 411 Borel Avenue, Suite 300, San Mateo, CA 94402.

The Behavioral Value Fund’s investment portfolio is managed on a day-to-day basis by the Behavioral Value Fund sub-advisor of the Value Fund pursuant to a sub-advisor agreement. The sub-advisor is considered for the purposes of the 1940 Act as being controlled by the following person, who is a principal of the company and owns more
over 25% of the company’s voting securities: Russell J. Fuller (Fuller & Thaler).

Under the Behavioral Value Fund Sub-Advisory Agreement between JPMIM and the Sub-advisor of the Behavioral Value Fund, the sub-advisor is entitled to a fee, payable at least quarterly per JPMIM on the fees that JPMIM collects, a certain percentage of the average daily net asset value of the
Behavioral Value Fund. For the Behavioral Value Fund, JPMIM will pay the sub-advisor a fee at the annual rate of 0.55% of the average daily net assets of the Fund. For a description of these charges, see “The “Management and administration of funds” section of the fund prospectuses.

The Fuller & Thaler Sub-Advisor Agreement will remain in effect for a period of two years from the date of its execution, unless it is terminated earlier. It can be renewed from year to year thereafter, provided that as the continuation is specifically approved at least once a year in accordance with the requirements of the 1940
Act.

The Fuller & Thaler Sub-Advisor Agreement provides that it may be terminated without penalty by JPMIM, by vote of the Board of Trustees of the Trust or by vote of the majority of outstanding securities Fund concerned, with 60 days written notice and will be automatically terminated in the event of