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FEDERAL INSURANCE COMPANY
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Endorsement No.
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14
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Bond Number:
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81906724
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NAME OF ASSURED: JOHN HANCOCK FUNDS
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REVISE ITEM 2. ENDORSEMENT
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It is agreed that this Bond is amended by deleting ITEM 2. in its entirety on the DECLARATIONS and
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substituting the following:
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ITEM 2. LIMITS OF LIABILITY-DEDUCTIBLE AMOUNTS:
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If "Not Covered" is inserted below opposite any specified INSURING CLAUSE, such INSURING CLAUSE
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and any other reference to such INSURING CLAUSE in this Bond shall be deemed to be deleted. There
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shall be no deductible applicable to any loss under INSURING CLAUSE 1 sustained by any
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Investment Company.
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SINGLE LOSS
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DEDUCTIBLE
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INSURING CLAUSE
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LIMIT OF LIABILITY
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AMOUNT
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1
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.
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Employee
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$
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15,000,000
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$
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0
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2
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.
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On Premises
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$
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15,000,000
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$
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150,000
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3
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.
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In Transit
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$
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15,000,000
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$
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150,000
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4
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.
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Forgery or Alteration
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$
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15,000,000
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$
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150,000
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5
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.
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Extended Forgery
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$
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15,000,000
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$
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150,000
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6
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.
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Counterfeit Money
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$
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15,000,000
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$
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150,000
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7
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.
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Threats to Person
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$
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15,000,000
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$
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150,000
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8
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.
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Computer System
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$
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15,000,000
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$
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150,000
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9
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.
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Voice Initiated Funds Transfer Instruction
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$
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15,000,000
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$
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150,000
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10
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.
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Uncollectible Items of Deposit
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$
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15,000,000
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$
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150,000
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11
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.
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Audit Expense
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$
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150,000
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$
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0
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12
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.
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Unauthorized Signature Endt
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$
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15,000,000
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$
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150,000
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13
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.
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Automated Telephone Transaction Endt
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$
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15,000,000
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$
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150,000
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14
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.
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Telefacsimile Instruction Fraud Endt
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$
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15,000,000
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$
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150,000
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15
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.
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Stop Payment Order or Refusal To Pay Check Endt
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$
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15,000,000
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$
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150,000
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16
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.
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Extended Computer Systems Endt
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$
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15,000,000
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$
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150,000
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This Endorsement applies to loss discovered after 12:01 a.m. on December 31, 2019.
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ALL OTHER TERMS AND CONDITIONS OF THIS BOND REMAIN UNCHANGED.
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Date: March 23, 2020
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By
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/s/ Paul N. Morrissette
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Authorized Representative
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ICAP Bond
Form 17-02-1582 (Ed. 5-98)
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Page 1
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IMPORTANT NOTICE TO POLICYHOLDERS
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All of the members of the Chubb Group of Insurance companies doing business in the United
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States (hereinafter “Chubb”) distribute their products through licensed insurance brokers and agents
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(“producers”). Detailed information regarding the types of compensation paid by Chubb to producers on
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US insurance transactions is available under the Producer Compensation link located at the bottom of
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the page at www.chubb.com, or by calling 1-866-588-9478. Additional information may be available from
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your producer.
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Thank you for choosing Chubb.
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10-02-1295 (ed. 6/2007)
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Important Notice:
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The SEC Requires Proof of Your Fidelity Insurance Policy
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Your company is now required to file an electronic copy
of your fidelity insurance coverage (Chubb’s ICAP Bond policy)
to the Securities and Exchange Commission (SEC), according to rules adopted by the SEC on June 12, 2006.
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Chubb is in the process of providing
your agent/broker with an electronic copy of your insurance policy as well as instructions on how to submit this proof of
fidelity insurance coverage to the SEC. You can expect to receive this information from your agent/broker shortly.
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The electronic copy of your policy
is provided by Chubb solely as a convenience and does not affect the terms and conditions of coverage as set forth in the
paper policy you receive by mail. The terms and conditions of the policy mailed to you, which are the same as those set forth
in the electronic copy, constitute the entire agreement between your company and Chubb.
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If you have any questions, please contact your agent or broker.
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Form 14-02-12160 (ed. 7/2006)
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
1401 H St. NW
Washington DC 20005
INVESTMENT COMPANY BLANKET BOND
(EXCESS)
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
1401 H St. NW
Washington, DC 20005
DECLARATIONS
NOTICE
This policy is issued by your risk retention
group. Your risk retention group may not be subject to all of the insurance laws and regulations of your state. State insurance
insolvency guaranty funds are not available for your risk retention group.
Item 1.
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Name of Insured (the “Insured”)
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Bond Number:
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John Hancock Funds
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87142119B
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Principal Office:
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Mailing Address:
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200 Berkeley Street
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C/O Aon Financial Services Group
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Boston, MA 02116
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One Federal Street
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Boston, MA 02210
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Item 2.
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Bond Period: from 12:01 a.m. on December 31, 2019,
to 12:01 a.m. on December 31, 2020, or the earlier effective date of the termination of this Bond, standard time at the
Principal Office as to each of said dates.
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Item 3.
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Limit of Liability—
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LIMIT OF LIABILITY
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DEDUCTIBLE AMOUNT 1
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1. EMPLOYEE
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$15,000,000
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$15,000,000
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2. ON PREMISES
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$15,000,000
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$15,000,000
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3. IN TRANSIT
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$15,000,000
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$15,000,000
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4. FORGERY OR ALTERATION
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$15,000,000
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$15,000,000
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5. EXTENDED FORGERY
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$15,000,000
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$15,000,000
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6. COUNTERFEIT CURRENCY
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$15,000,000
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$15,000,000
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7. THREATS TO PERSONS
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$15,000,000
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$15,000,000
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8. COMPUTER SYSTEM
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$15,000,000
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$15,000,000
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9. VOICE-INITIATED FUNDS TRANSFER INSTRUCTION
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$15,000,000
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$15,000,000
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10. UNCOLLECTIBLE ITEMS OF DEPOSIT
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$15,000,000
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$15,000,000
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1 Plus
the applicable deductible of the Primary Bond
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Item 4.
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PRIMARY BOND –Federal Insurance Company Bond No. 81906724
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Item 5.
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The liability of ICI Mutual Insurance Company, a Risk Retention Group (the “Underwriter”)
is subject to the terms of the following Riders attached hereto:
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Riders: 1
and
of all Riders applicable to this Bond issued during the Bond Period.
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By:
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/s/ Maggie Sullivan
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By:
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/s/ John T. Mulligan
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Authorized Representative
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Authorized Representative
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Bond (6/18)
NOTICE
This policy is issued by your
risk retention group. Your risk retention group may not be subject to all of the insurance laws and regulations of your state.
State insurance insolvency guaranty funds are not available for your risk retention group.
ICI Mutual Insurance
Company, a Risk Retention Group (“Underwriter”), in consideration of the required premium, and in reliance on the
application and all other information furnished to the Underwriter by the Insured, and subject to and in accordance with the
Declarations, General Agreements, Provisions, Conditions and Limitations of this bond, agrees to indemnify the Insured for
loss, discovered during the Bond Period, which would otherwise have been paid under the Primary Bond but for the fact
that the loss exceeds the limit of liability of such Primary Bond. Coverage under this bond shall follow the terms and
conditions of the Primary Bond, except with respect to:
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a.
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Any coverage exceptions specified by riders attached to this bond;
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b.
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The deductible amounts and limits of liability as stated in ITEM 3. of the Declarations; and
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c.
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The General Agreements, Provisions, Conditions and Limitations set forth herein.
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GENERAL AGREEMENTS
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A.
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CHANGE OR MODIFICATION OF PRIMARY BOND
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If after the inception date
of this bond the Primary Bond is changed or modified, written notice of any such change or modification shall be given to
the Underwriter as soon as practicable, not to exceed thirty (30) days after such change or modification, together with such information
as the Underwriter may request. There shall be no coverage under this bond for any loss arising from or in any way related to such
change or modification until such time as the Underwriter is advised of and specifically agrees by written endorsement to provide
coverage for such change or modification.
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B.
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LOSS--NOTICE--PROOF--LEGAL PROCEEDINGS
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This bond is for the use
and benefit only of the Insured and the Underwriter shall not be liable hereunder for loss sustained by anyone other than the Insured
(except that if the Insured includes such other loss in the Insured’s proof of loss, the Underwriter shall consider its liability
therefor.) As soon as practicable and not more than sixty (60) days after discovery of any loss covered hereunder, the Insured
shall give the Underwriter written notice thereof and, as soon as practicable and within one year after such discovery, shall also
furnish to the Underwriter affirmative proof of loss with full particulars. The Underwriter may extend the sixty day notice period
or the one year proof of loss period if the Insured requests an extension and shows good cause therefor.
The Underwriter shall not
be liable hereunder for loss of Securities unless each of the Securities is identified in such proof of loss by a certificate or
bond number or by such identification means as the Underwriter may require. The Underwriter shall have a reasonable period after
receipt of a proper affirmative proof of loss within which to investigate the claim, but where the loss is of Securities and is
clear and undisputed, settlement shall be made within forty-eight (48) hours even if the loss involves Securities of which duplicates
may be obtained.
The Insured shall not bring
legal proceedings against the Underwriter to recover any loss hereunder prior to sixty (60) days after filing such proof of loss
or subsequent to twenty-four (24) months after the discovery of such loss or, in the case of a legal proceeding to recover hereunder
on account of
any judgment against the
Insured in or settlement of any suit or to recover court costs or attorneys’ fees paid in any such suit, twenty-four (24)
months after the date of the final judgment in or settlement of such suit. If any limitation in this bond is prohibited by any
applicable law, such limitation shall be deemed to be amended to be equal to the minimum period of limitation permitted by such
law.
Notice hereunder shall be
given to Manager, Professional Liability Claims, ICI Mutual Insurance Company, 1401 H St. NW, Washington, DC 20005.
PROVISIONS, CONDITIONS AND LIMITATIONS
SECTION 1. DEFINITIONS
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a.
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Deductible Amount means the amount stated in ITEM 3. of the Declarations, applicable to
each Single Loss. In no event shall this Deductible Amount be reduced for any reason, including but not limited to, the
non-existence, invalidity, insufficiency or uncollectibility of any Underlying Bond(s), including the insolvency or dissolution
of any Insurer providing coverage under any Underlying Bond(s).
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b.
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Primary Bond means the bond scheduled in ITEM 4. of the Declarations or any bond that may
replace or substitute for such bond.
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(1)
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all loss resulting from any one actual or attempted theft committed by one person, or
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(2)
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all loss caused by any one act (other than a theft or a dishonest or fraudulent act) committed
by one person, or
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(3)
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all loss caused by dishonest or fraudulent acts committed by one person, or
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(4)
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all expenses incurred with respect to any one audit or examination, or
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(5)
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all loss caused by any one occurrence or event other than those specified in subsections (1) through
(4) above.
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d.
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Underlying Bond means the Primary Bond and all other insurance coverage referred
to in ITEM 4. of the Declarations.
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SECTION 2. SINGLE LOSS LIMIT
OF LIABILITY
The Underwriter’s liability
for each Single Loss shall not exceed the Limit of Liability as stated in ITEM 3. of the Declarations.
SECTION 3. DISCOVERY
For all purposes under this
bond, a loss is discovered, and discovery of a loss occurs, when the Insured
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(1)
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becomes aware of facts, or
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(2)
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receives notice of an actual or potential claim by a third party which alleges that the Insured
is liable under circumstances, which would cause a reasonable person to assume that loss covered by this bond has been or is likely
to be incurred even though the exact amount or details of loss may not be known.
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SECTION
4. ASSIGNMENT OF RIGHTS
Upon payment to the Insured
hereunder for any loss, the Underwriter shall be subrogated to the extent of such payment to all of the Insured’s rights
and claims in connection with such loss; provided, however, that the Underwriter shall not be subrogated to any such rights or
claims one named Insured under this bond may have against another named Insured under this bond. At the request of the Underwriter,
the Insured shall execute all assignments or other documents and take such action as the Underwriter may deem necessary or desirable
to secure and perfect such rights and claims, including the execution of documents necessary to enable the Underwriter to bring
suit in the name of the Insured.
Assignment of any rights
or claims under this bond shall not bind the Underwriter without the Underwriter’s written consent.
SECTION 5. COOPERATION OF INSURED
At the Underwriter’s
request and at reasonable times and places designated by the Underwriter the Insured shall:
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a.
|
submit to examination by the Underwriter and subscribe to the same under oath, and
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|
b.
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produce for the Underwriter’s examination all pertinent records, and
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c.
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cooperate with the Underwriter in all matters pertaining to the loss.
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The Insured shall execute
all papers and render assistance to secure for the Underwriter the rights and causes of action provided for under this bond. The
Insured shall do nothing after loss to prejudice such rights or causes of action.
SECTION 6. TERMINATION
The Underwriter may terminate
this bond as to any Insured or all Insureds only by written notice to such Insured or Insureds and, if this bond is terminated
as to any investment company registered under the Investment Company Act of 1940, to each such investment company terminated thereby
and to the Securities and Exchange Commission, Washington, D.C., in all cases not less than sixty (60) days prior to the effective
date of termination specified in such notice.
The Insured may terminate
this bond only by written notice to the Underwriter not less than sixty (60) days prior to the effective date of the termination
specified in such notice. Notwithstanding the foregoing, when the Insured terminates this bond as to any investment company registered
under the Investment Company Act of 1940, the effective date of termination shall be not less than sixty (60) days from the date
the Underwriter provides written notice of the termination to each such investment company terminated thereby and to the Securities
and Exchange Commission, Washington, D.C.
This bond will terminate
as to any Insured entity that is not an investment company registered under the Investment Company Act of 1940 immediately and
without notice upon (1) the takeover of such Insured’s business by any State or Federal official or agency, or by any receiver
or liquidator, or (2) the filing of a petition under any State or Federal statute relative to bankruptcy or reorganization of the
Insured, or assignment for the benefit of creditors of the Insured.
Premiums are earned until
the effective date of termination. The Underwriter shall refund the unearned premium computed at short rates in accordance with
the Underwriter’s standard short rate cancellation tables if this bond is terminated by the Insured or pro rata if this bond
is terminated by the Underwriter.
Upon the detection by any
Insured that an employee (as defined in the Primary Bond) has committed any dishonest or fraudulent act(s) or theft, the
Insured shall immediately remove such employee from a position that may enable such employee to cause the Insured to suffer a loss
by any subsequent dishonest or fraudulent act(s) or theft. The Insured, within two (2) business days of such detection, shall notify
the Underwriter with full and complete particulars of the detected dishonest or fraudulent act(s) or theft.
For purposes of this section,
detection occurs when any partner, officer, or supervisory employee of any Insured, who is not in collusion with such employee,
becomes aware that the employee has committed any dishonest or fraudulent act(s) or theft.
This bond shall terminate
as to any employee (as defined in the Primary Bond) by written notice from the Underwriter to each Insured and, if such
employee is an employee of an Insured investment company registered under the Investment Company Act of 1940, to the Securities
and Exchange Commission, in all cases not less than sixty (60) days prior to the effective date of termination specified in such
notice.
SECTION 7. CONFORMITY
If any limitation within
this bond is prohibited by any law controlling this bond’s construction, such limitation shall be deemed to be amended so
as to equal the minimum period of limitation provided by such law.
SECTION 8. CHANGE OR MODIFICATION
This bond may only be modified
by written Rider forming a part hereof over the signature of the Underwriter’s authorized representative. Any Rider which
modifies the coverage provided by Insuring Agreement A, Fidelity (or the equivalent insuring agreement) of the Primary Bond in
a manner which adversely affects the rights of an Insured investment company registered under the Investment Company Act of 1940
shall not become effective until at least sixty (60) days after the Underwriter has given written notice thereof to the Securities
and Exchange Commission, Washington, D.C., and to each Insured investment company registered under the Investment Company Act of
1940 affected thereby.
SECTION 9. DEDUCTIBLE AMOUNT; LIMIT OF LIABILITY
The Underwriter shall not
be liable under any Insuring Agreement unless the amount of the loss covered thereunder, after deducting the net amount of all
reimbursement and/or recovery received by the Insured with respect to such loss (other than from the Primary Bond or from
any other bond, suretyship or insurance policy), shall exceed the applicable Deductible Amount; in such case the Underwriter
shall be liable only for such excess, subject to the applicable Limit of Liability and other agreements, provisions, conditions
and limitations of this bond.
The maximum liability of
the Underwriter for any Single Loss covered by any Insuring Agreement under this bond shall be the Limit of Liability applicable
to such Insuring Agreement, subject to the
applicable Deductible
Amount and the other agreements, provisions, conditions and limitations of this bond.
SECTION 10. COMPLIANCE WITH
APPLICABLE TRADE AND ECONOMIC SANCTIONS
This bond shall not be deemed
to provide any coverage, and the Underwriter shall not be required to pay any loss or provide any benefit hereunder, to the extent
that the provision of such coverage, payment of such loss or provision of such benefit would cause the Underwriter to be in violation
of any applicable trade or economic sanctions, laws or regulations, including, but not limited to, any sanctions, laws or regulations
administered and enforced by the U.S. Department of Treasury Office of Foreign Assets Control (OFAC).
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
(EXCESS BOND)
RIDER NO. 1
John Hancock Funds
|
|
87142119B
|
EFFECTIVE DATE
|
BOND PERIOD
|
AUTHORIZED REPRESENTATIVE
|
|
|
|
December 31, 2019
|
December
31, 2019 to December 31, 2020
|
/s/
Maggie Sullivan
|
Most property and casualty insurers,
including ICI Mutual Insurance Company, a Risk Retention Group (“ICI Mutual”), are subject to the requirements of the
Terrorism Risk Insurance Act of 2002, as amended (the “Act”). The Act establishes a federal insurance backstop under
which ICI Mutual and these other insurers may be partially reimbursed by the United States Government for future “insured
losses” resulting from certified “acts of terrorism.” (Each of these bolded terms is defined
by the Act.) The Act also places certain disclosure and other obligations on ICI Mutual and these other insurers.
Pursuant to the Act, any future losses
to ICI Mutual caused by certified “acts of terrorism” may be partially reimbursed by the United Sates government
under a formula established by the Act. Under this formula, the United States government would generally reimburse ICI Mutual for
the Federal Share of Compensation of ICI Mutual’s “insured losses” in excess of ICI Mutual’s “insurer
deductible” until total “insured losses” of all participating insurers reach $100 billion (the “Cap
on Annual Liability”). If total “insured losses” of all property and casualty insurers reach the Cap on
Annual Liability in any one calendar year, the Act limits U.S. Government reimbursement and provides that the insurers will not
be liable under their policies for their portions of such losses that exceed such amount. Amounts otherwise payable under this
Bond may be reduced as a result.
This Bond has no express exclusion for
“acts of terrorism.” However, coverage under this Bond remains subject to all applicable terms, conditions,
and limitations of the Bond (including exclusions) that are permissible under the Act.
The portion of the premium that is attributable
to any coverage potentially available under the Bond for “acts of terrorism” is one percent (1%) and does not
include any charges for the portion of loss that may be covered by the U.S. Government under the Act
As used herein, “Federal Share
of Compensation” shall mean 85% in calendar year 2015 and shall be reduced by 1% per calendar year until equal to 80%.
Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of this Bond.
RN0053.1-00 (07/18) sp
|
DECLARATIONS
EXCESS INSURANCE POLICY
|
ACCOUNT NUMBER
|
319423
|
COVERAGE PROVIDED BY (hereafter Insurer)
|
Continental Casualty Company
|
POLICY NUMBER
|
652075432
|
Item 1: NAMED ENTITY AND PRINCIPAL ADDRESS
|
PRODUCER
|
John Hancock Funds, LLC
601 Congress St
Boston, MA 02210
|
AON RISK SERVICES NORTHEAST INC
53 STATE ST FL 22
BOSTON, MA 02109
|
Attn:
|
|
Alexander Minier
|
Item 2.
|
Policy Period:
|
12/31/2019 To 12/31/2020
12:01 a.m. Standard Time at the Principal Address stated in
Item 1.
|
Item 3. Limit of Liability
$6,000,000 maximum aggregate Limit of Liability under the Policy
|
Item 4.
|
Schedule of Underlying Insurance:
|
|
A. Followed Policy
|
|
Name of Carrier
|
Policy No
|
Limits
|
Ded/Ret Amount
|
|
Federal Insurance Company
|
81906724
|
$15,000,000
|
$150,000
|
|
B. Underlying Excess Policies: *** SEE ATTACHED
SCHEDULE ***
|
Item 5.
|
Policy Premium
|
$18,000
|
|
|
|
|
|
Item 6.
|
Notices of Claims:
|
All other Notices:
|
CNA – Claims Reporting
P.O Box 8317
Chicago, IL 60680-8317
Email address: SpecialtyNewLoss@cna.com
Fax Number: 866-773-7504
|
Open Brokerage Global Specialty Lines
CNA Insurance Company
125 Broad Street – 8th
Floor
New York, NY 10004
|
Item 7.
|
Endorsements forming a part of this Policy at inception:
|
|
|
|
|
|
|
|
|
|
|
|
These Declarations, along with the
completed and signed Application, the Policy, and any written endorsements attached thereto shall constitute the contract between
the Insureds and the Insurer.
Authorized Representative:
|
/s/ Dino
Robusto
|
|
Date:
|
February 3, 2020
|
|
|
|
|
|
G-22076-B(c) (ED. 06-10)
|
1
|
|
|
|
|
|
© CNA All Rights Reserved.
|
|
UNDERLYING EXCESS POLICY SCHEDULE
Name of Carrier
|
Policy No.
|
Limits
|
Excess of
|
ICI Mutual Insurance
|
87142118B
|
$15,000,000
|
$15,000,000
|
G-22076-B(c) (ED. 06-10)
|
2
|
|
|
|
|
|
© CNA All Rights Reserved.
|
|
|
EXCESS INSURANCE POLICY
|
Words
defined in the Followed Policy have the same meaning in this Policy even if not defined herein. In consideration of
the payment of the premium and in reliance upon the applications submitted to the Insurer or any insurer of the Underlying Insurance,
and any other material submitted in connection with such applications (all of which are deemed attached hereto and made a part
hereof) the Insurer and the Insureds agree as follows:
I.
|
FOLLOW FORM EXCESS COVERAGE
|
The Insurer shall provide coverage in accordance with
all of the terms, conditions and limitations (including, but not limited to the exclusions and notice requirements) of the policy
scheduled in Item 4.A. of the Declarations (hereafter “Followed Policy”) except as otherwise set forth herein.
Coverage hereunder shall attach only after all of the aggregate Limits of Liability, as set forth in Item 4. of the Declarations
have been exhausted through payment of covered loss under all policies scheduled in Item 4. of the Declarations (hereafter “Underlying
Insurance”) by or on behalf of the insurers of such Underlying Insurance, or by or on behalf of the Insureds.
The risk of uncollectibility of any Underlying Insurance (in whole or in part), whether because of financial impairment
or insolvency of an underlying insurer or for any other reason, is expressly retained by the Insureds and is not insured by or
assumed by the Insurer.
The amount set forth in Item 3. of the Declarations shall
be the maximum aggregate Limit of Liability of the Insurer for all loss under this Policy, regardless of the number of claims made
against the Insureds or the time of payment and regardless of whether or not an extended reporting period applies. If the Limit
of Liability under this Policy is exhausted by payment of loss, the Insurer’s obligations under this Policy shall be deemed
completely fulfilled and extinguished.
III.
|
CHANGES TO UNDERLYING INSURANCE/DEPLETION OF SUB-LIMITS
|
If, subsequent to the inception date
of this Policy, there is a change to any Underlying Insurance which expands coverage, then this Policy shall become subject
to such change only if the Insurer agrees thereto by written endorsement to this Policy. If any loss under any Underlying Insurance
is subject to a sub-limit, then this Policy provides no coverage excess of such Underlying Insurance sub-limit, but the
Underlying Insurance shall be deemed depleted by payment of any such sub-limit.
IV.
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INSURER RIGHTS/COOPERATION CLAUSE
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The Insurer has the same rights and protections as has
the insurer of the Followed Policy and has the right, but not the obligation, at its sole discretion, to elect to participate
in the investigation, settlement, prosecution or defense of any claim reasonably likely to attach to and be covered under this
Policy or any Underlying Insurance, even if the Underlying Insurance has not been exhausted. The Insureds shall cooperate
with the Insurer in such investigation, settlement, prosecution or defense and shall do nothing that prejudices the Insurer’s
position or rights of recovery.
Where notice is permitted or required
by the Followed Policy, the Insureds have the same rights and obligations to notify the Insurer under this Policy, except
that such notice shall be given to the Insurer at the applicable address specified in Item 6. of the Declarations.
IN WITNESS WHEREOF, the Insurer has caused
this Policy to be executed by its Chairman and Secretary, but this Policy shall not be binding upon us unless completed by the
attachment of the Declarations:
Chairman
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Secretary
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/s/ Dino Robusto
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G-22076-B(c) (ED. 06-10)
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- 1 -
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© CNA All Rights Reserved.
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John Hancock Bond Trust
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John Hancock Investors Trust
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John Hancock California Tax-Free Income Fund
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John Hancock Municipal Securities Trust
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John Hancock Capital Series
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John Hancock Preferred Income Fund
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John Hancock Collateral Trust
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John Hancock Preferred Income Fund II
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John Hancock Current Interest
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John Hancock Preferred Income Fund III
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John Hancock Premium Dividend Fund
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John Hancock Exchange-Traded-Fund Trust
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John Hancock Sovereign Bond Fund
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John Hancock Financial Opportunities Fund
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John Hancock Strategic Series
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John Hancock Funds II
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John Hancock Tax-Advantaged Dividend Income Fund
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John Hancock Funds III
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John Hancock Tax-Advantaged Global Shareholder Yield Fund
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John Hancock Hedged Equity & Income Fund
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John Hancock Variable Insurance Trust
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John Hancock Income Securities Trust
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John Hancock Investment Trust
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John Hancock Investment Trust II
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John Hancock Investment Trust III
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(Collectively referred to as the “Trusts”
and the series are collectively referred to as the “Funds”)
2019-2020 Joint Financial Institutions
(Fidelity) Bond (the “Joint Bond”)
WHEREAS, Rule 17g-1 under the 1940 Act
governs the required bonding of the Trusts’ officers and employees under a joint fidelity bond;
WHEREAS, the Trustees desire to approve
the Joint Bond for a one- year term ending December 31, 2020; and
WHEREAS, the Trustees of the Trusts have
considered the allocation of premiums for the Joint Bond among the John Hancock Trusts and have determined that the allocation
should be based on the premium (including tax) of $116,706it is:
RESOLVED, that the Joint Bond issued
by Federal Insurance Company (Chubb), ICI Mutual Insurance Company and Continental Casualty Company, covering each officer and
employee of the Trusts against larceny and embezzlement, in the amount of $36 million for a one-year term ending December
31, 2020, and in the proposed form presented at this meeting, after consideration of all factors deemed relevant by the Board,
including, but not limited to: (i) the expected value of the aggregate assets of the Trusts to which any officer or employee of
such Trusts may have access; (ii) the type and terms of the arrangements made for the custody and safekeeping of such assets;
and (iii) the nature of the securities in the John Hancock Trusts’ portfolios, be, and it hereby is, determined to be reasonable
in form and amount, and hereby approved;
FURTHER RESOLVED, that the portion of the
premium for the Joint Bond to be paid by each Trust, in substantially the form presented at this Meeting, after consideration
of all factors deemed relevant by the Board, including, but not limited to: (i) the number of the other parties named as insureds;
(ii) the nature of the business activities of such other parties; (iii) the amount of the Joint Bond; (iv) the amount of the premium
for such Joint Bond; (v) the ratable allocation of the premium among all parties named as insureds; and (vi) the extent to which
the share of the premium allocated to each Trust is less than the premium such Trust would have had to pay if it had provided
and maintained a single insured bond, be, and it hereby is, approved; and
FURTHER RESOLVED, that the appropriate
officers of the Trusts be, and each hereby is, authorized to increase the amount of the Joint Bond coverage from time to time
to ensure adequate coverage based upon the value of the Trusts’ assets and to enable the Trusts to remain in compliance
with the 1940 Act and the rules promulgated thereunder;
FURTHER RESOLVED, that the Joint Insured
Bond Agreement among the Trusts (the “Joint Bond Agreement”), in substantially the form presented at this Meeting,
providing in substance that, in the event any recovery is received under the Joint Bond as a result of a loss sustained by the
Trusts and any one or more other named insureds, the Trusts shall receive an equitable and proportionate share of the recovery,
but in no event less than the amount it would have received had it provided and maintained a single bond with the minimum coverage
required by paragraph (d)(1) of Rule 17g-1 under the 1940 Act, be, and it hereby is, approved;
FURTHER RESOLVED, that the Secretary of the Trusts or his
delegate be, and each hereby is, authorized to make all necessary filings and give all notices and information with respect to
such Joint Bond and the Joint Bond Agreement required by paragraph (g) of Rule 17g-1 under the 1940 Act; and
FURTHER RESOLVED, that the appropriate
officers of the Trusts be, and each hereby is, authorized to make any and all payments and to do any and all such further acts,
in the name of the Trusts and on its behalf, as they, or any of them, may determine to be necessary or desirable and proper, with
the advice of counsel, in connection with or in furtherance of the foregoing resolutions.
Agreement
Relating to Joint Insured Bond
WHEREAS, each of the parties hereto is a named
insured under a “joint insured bond,” as that term is defined in Rule 17g-1 under the Investment Company Act of 1940
(the “1940 Act”); and
WHEREAS, Rule 17g-1(f) under the 1940 Act requires
an agreement between all the named insureds under a joint insured bond;
NOW, THEREFORE, the parties hereto hereby agree
as follows:
In the event recovery is received under the joint
insured bond as a result of a loss sustained by any two or more of the named insureds, each insured shall receive an equitable
and proportionate share of the recovery, but at least equal to the amount which it would have received had it provided and maintained
a single insured bond with the minimum coverage required by paragraph (d)(1) of Rule 17g-1 under the 1940 Act.
IN WITNESS WHEREOF, each of the parties hereto
has caused this Agreement to be executed on its behalf by the undersigned thereunto duly authorized on September 24, 2015.
JOHN HANCOCK
VARIABLE INSURANCE TRUST
on behalf of
each of its Series
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JOHN HANCOCK
FUNDS II
on behalf of
each of its Series
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John HANCOCK
FUNDS III
on behalf of
each of its series
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JOHN HANCOCK
BOND TRUST
on behalf of
each of its series
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JOHN HANCOCK
CAPITAL SERIES
on behalf of
each of its series
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JOHN HANCOCK
CALIFORNIA TAX-FREE INCOME FUND
on behalf of
each of its series
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JOHN HANCOCK
COLLATERAL TRUST
On behalf of
each of its series
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JOHN HANCOCK
CURRENT INTEREST
on behalf of
each of its series
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JOHN HANCOCK
INVESTMENT TRUST
on behalf of
each of its series
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JOHN HANCOCK
INVESTMENT TRUST II
on behalf of
each of its series
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JOHN HANCOCK
INVESTMENT TRUST III
on behalf of
each of its series
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JOHN HANCOCK
MUNICIPAL SERIES TRUST
on behalf of
each of its series
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JOHN HANCOCK
SOVEREIGN BOND FUND
on behalf of
its of its series
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JOHN HANCOCK
STRATEGIC SERIES
on behalf of
each of its series
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JOHN HANCOCK
EMERGING MARKETS INCOME FUND
on behalf of
its of its series
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JOHN HANCOCK
EXCHANGE-TRADED FUND TRUST
on behalf of
each of its series
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JOHN HANCOCK
FINANCIAL OPPORTUNITIES FUND
on behalf of
each of its series
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JOHN HANCOCK
FLOATING RATE HIGH INCOME FUND
On behalf of
each of its series
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JOHN HANCOCK
HEDGED EQUITY & INCOME FUND
on behalf of
each of its series
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JOHN HANCOCK
INCOME SECURITIES TRUST
on behalf of
each of its series
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JOHN HANCOCK
INVESTORS TRUST
on behalf of
each of its series
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JOHN HANCOCK
PREFERRED INCOME FUND
on behalf of
each of its series
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JOHN HANCOCK
PREFERRED INCOME FUND II
on behalf of
each of its series
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JOHN HANCOCK
PREFERRED INCOME FUND III
on behalf of
each of its series
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JOHN HANCOCK
PREMIUM DIVIDEND FUND
on behalf of
each of its series
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JOHN HANCOCK
STRATEGIC DIVERSIFIED INCOME FUND
on behalf of
each if its series
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JOHN HANCOCK
TAX-ADVANTAGED DIVIDEND INCOME FUND
on behalf of
each of its series
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JOHN HANCOCK
TAX-ADVANTAGED GLOBAL SHAREHOLDER YIELD FUND
on behalf of
each of its series
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Executed on behalf of each Trust and its relevant Series referenced above:
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By:
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/s/ Betsy Anne Seel
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Name:
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Betsy Anne Seel
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Title:
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Assistant Secretary
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STATEMENT REGARDING SINGLE BOND AMOUNT
If the investment companies shown below had not been named as an
insured under this joint insured bond, they would have provided and maintained a single bond in the amount of at least:
John Hancock Bond Trust
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$1,900,000
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John Hancock California Tax-Free Income Fund
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$600,000
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John Hancock Capital Series
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$2,300,000
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John Hancock Collateral Trust
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$1,700,000
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John Hancock Current Interest
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$900,000
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John Hancock Emerging Markets Income Fund
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$50,000
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John Hancock Exchange-Traded Fund Trust
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$2,500,000
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John Hancock Financial Opportunities Fund
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$1,000,000
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John Hancock Floating Rate High Income Fund
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$50,000
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John Hancock Funds II
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$2,500,000
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John Hancock Funds III
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$2,500,000
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John Hancock Hedged Equity & Income Fund
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$600,000
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John Hancock Income Securities Trust
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$750,000
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John Hancock Investment Trust
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$2,500,000
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John Hancock Investment Trust II
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$1,700,000
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John Hancock Investment Trust III
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$50,000
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John Hancock Investors Trust
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$600,000
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John Hancock Municipal Securities Trust
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$900,000
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John Hancock Preferred Income Fund
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$1,000,000
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John Hancock Preferred Income Fund II
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$900,000
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John Hancock Preferred Income Fund III
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$1,000,000
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John Hancock Premium Dividend Fund
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$1,250,000
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John Hancock Sovereign Bond Fund
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$2,500,000
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John Hancock Strategic Diversified Income Fund
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$50,000
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John Hancock Strategic Series
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$1,500,000
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John Hancock Tax-Advantaged Dividend Income Fund
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$1,250,000
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John Hancock Tax-Advantaged Global Shareholder Yield Fund
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$450,000
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John Hancock Variable Insurance Trust
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$2,500,000
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PREMIUM PERIOD
Premiums have been paid for the period December 31, 2019 to December
31, 2020.