American Century Mutual Funds, Inc.

AMENDMENT NO. 7 TO RESTATED MANAGEMENT AGREEMENT

THIS AMENDMENT NO. 7 TO RESTATED MANAGEMENT AGREEMENT (“Amendment”) is effective as of the 1^st day of August, 2018 (the “Effective Date”), by and between AMERICAN CENTURY MUTUAL FUNDS, INC., a Maryland corporation (hereinafter called the “Corporation”), and AMERICAN CENTURY INVESTMENT MANAGEMENT, INC., a Delaware corporation (hereinafter called the “Investment Manager”).

WHEREAS, the Corporation and the Investment Manager are parties to a certain Restated Management Agreement effective as of August 1, 2011, and amended effective as of September 30, 2011, July 26, 2013, August 1, 2014, December 1, 2016, April 10, 2017 and July 31, 2017 (“Agreement”) and

WHEREAS, the parties hereto desire to enter into this Amendment to reflect management fee changes for the Adaptive Equity Fund and Sustainable Equity Fund.

NOW, THEREFORE, IN CONSIDERATION of the mutual promises and agreements herein contained, the parties agree as follows:

1.    Amendment of Schedule A. Schedule A to the Agreement is hereby amended by deleting it in its entirety and replacing it with the Schedule A attached hereto.

2.    Ratification and Confirmation of Agreement. In the event of a conflict between the terms of this Amendment and the Agreement, it is the intention of the parties that the terms of this Amendment shall control and the Agreement shall be interpreted on that basis. To the extent the provisions of the Agreement have not been amended by this Amendment, the parties hereby confirm and ratify the effectiveness of those provisions of the Agreement.

3.Full Force and Effect. Except as expressly supplemented, amended or consented to hereby, the representations, warranties, terms, covenants and conditions of the Agreement shall remain unamended and shall continue to be in full force and effect.

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American Century Mutual Funds, Inc.

IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed by their respective duly authorized officers as of the Effective Date.

American Century Investment Management, Inc.	American Century Mutual Funds, Inc.
/s/ Otis H. Cowan	/s/ Charles A. Etherington
Otis H. Cowan Vice President	Charles A. Etherington Senior Vice President

2

American Century Mutual Funds, Inc.

Schedule A

Fee Schedules

Series	Investment Strategy Assets	Fee Schedule by Class
		Investor	I	A	C	R	R6	R5	Y
Ultra Fund	First $4 billion	0.990%	0.790%	0.990%	0.990%	0.990%	0.640%	0.790%	0.640%
	Next $4 billion	0.970%	0.770%	0.970%	0.970%	0.970%	0.620%	0.770%	0.620%
	Next $4 billion	0.950%	0.750%	0.950%	0.950%	0.950%	0.600%	0.750%	0.600%
	Next $4 billion	0.930%	0.730%	0.930%	0.930%	0.930%	0.580%	0.730%	0.580%
	Next $4 billion	0.910%	0.710%	0.910%	0.910%	0.910%	0.560%	0.710%	0.560%
	Next $5 billion	0.890%	0.690%	0.890%	0.890%	0.890%	0.540%	0.690%	0.540%
	Over $25 billion	0.800%	0.600%	0.800%	0.800%	0.800%	0.450%	0.600%	0.450%
Heritage Fund	All Assets	1.000%	0.800%	1.000%	1.000%	1.000%	0.650%	0.800%	0.650%
All Cap Growth Fund	All Assets	1.000%	0.800%	1.000%	1.000%	1.000%	n/a	n/a	n/a
New Opportunities Fund	First $250 million	1.500%	1.300%	1.500%	1.500%	1.500%	n/a	n/a	n/a
	Next $250 million	1.250%	1.050%	1.250%	1.250%	1.250%	n/a	n/a	n/a
	Next $250 million	1.150%	0.950%	1.150%	1.150%	1.150%	n/a	n/a	n/a
	Over $750 million	1.100%	0.900%	1.100%	1.100%	1.100%	n/a	n/a	n/a
Growth Fund	First $4 billion	0.990%	0.790%	0.990%	0.990%	0.990%	0.640%	0.790%	0.640%
	Next $4 billion	0.970%	0.770%	0.970%	0.970%	0.970%	0.620%	0.770%	0.620%
	Next $4 billion	0.950%	0.750%	0.950%	0.950%	0.950%	0.600%	0.750%	0.600%
	Next $4 billion	0.930%	0.730%	0.930%	0.930%	0.930%	0.580%	0.730%	0.580%
	Next $4 billion	0.910%	0.710%	0.910%	0.910%	0.910%	0.560%	0.710%	0.560%
	Next $5 billion	0.890%	0.690%	0.890%	0.890%	0.890%	0.540%	0.690%	0.540%
	Over $25 billion	0.800%	0.600%	0.800%	0.800%	0.800%	0.450%	0.600%	0.450%

A-1

American Century Mutual Funds, Inc.

Series	Investment Strategy Assets	Fee Schedule by Class
		Investor	I	A	C		R		R6	R5		Y
Select Fund	First $4 billion	0.990%	0.790%	0.990%	0.990%		0.990%		0.640%	0.790%		0.640%
	Next $4 billion	0.970%	0.770%	0.970%	0.970%		0.970%		0.620%	0.770%		0.620%
	Next $4 billion	0.950%	0.750%	0.950%	0.950%		0.950%		0.600%	0.750%		0.600%
	Next $4 billion	0.930%	0.730%	0.930%	0.930%		0.930%		0.580%	0.730%		0.580%
	Next $4 billion	0.910%	0.710%	0.910%	0.910%		0.910%		0.560%	0.710%		0.560%
	Next $5 billion	0.890%	0.690%	0.890%	0.890%		0.890%		0.540%	0.690%		0.540%
	Over $25 billion	0.800%	0.600%	0.800%	0.800%		0.800%		0.450%	0.600%		0.450%
Small Cap Growth Fund	First $250 million	1.500%	1.300%	1.500%	1.500%		1.500%		1.150%	1.300%		1.150%
	Next $250 million	1.250%	1.050%	1.250%	1.250%		1.250%		0.900%	1.050%		0.900%
	Next $250 million	1.150%	0.950%	1.150%	1.150%		1.150%		0.800%	0.950%		0.800%
	Over $750 million	1.100%	0.900%	1.100%	1.100%		1.100%		0.750%	0.900%		0.750%
Adaptive Equity Fund	First $500 million	1.150%	0.950%	1.150%	n/a		1.150%		0.800%	n/a		n/a
(f/k/a Veedot Fund)	Next $500 million	1.100%	0.900%	1.100%	n/a		1.100%		0.750%	n/a		n/a
	Over $1 billion	1.000%	0.800%	1.000%	n/a		1.000%		0.650%	n/a		n/a
Balanced Fund	First $1 billion	0.900%	0.700%	n/a		n/a		n/a	n/a		0.700%	n/a
	Over $1 billion	0.800%	0.600%	n/a		n/a		n/a	n/a		0.600%	n/a
Capital Value Fund	First $500 million	1.100%	0.900%	1.100%		n/a		n/a	n/a		n/a	n/a
	Next $500 million	1.000%	0.800%	1.000%		n/a		n/a	n/a		n/a	n/a
	Over $1 billion	0.900%	0.700%	0.900%		n/a		n/a	n/a		n/a	n/a
Sustainable Equity Fund	First $25 billion	0.840%	0.640%	0.840%		0.840%		0.840%	n/a		0.640%	0.490%
(f/k/a Fundamental Equity Fund)	Over $25 billion	0.800%	0.600%	0.800%		0.800%		0.800%	n/a		0.600%	0.450%

A-2

American Century Mutual Funds, Inc.

Series	Investment Strategy Assets	Fee Schedule by Class
		G
NT Growth Fund	First $4 billion	0.640%
	Next $4 billion	0.620%
	Next $4 billion	0.600%
	Next $4 billion	0.580%
	Next $4 billion	0.560%
	Next $5 billion	0.540%
	Over $25 billion	0.450%
NT Heritage Fund	All Assets	0.650%

A-3