Amended Annex A

The compensation payable under Paragraph 5 of the Management Agreement between Goldman Sachs Trust and each of the undersigned shall be as follows:

Goldman Sachs Asset Management, L.P.

	Annual Rate
Goldman Sachs-Financial Square Prime Obligations Fund	0.205%
Goldman Sachs-Financial Square Money Market Fund	0.205%
Goldman Sachs-Financial Square Treasury Obligations Fund	0.205%
Goldman Sachs-Financial Square Treasury Instruments Fund	0.205%
Goldman Sachs-Financial Square Government Fund	0.205%
Goldman Sachs-Financial Square Federal Fund	0.205%
Goldman Sachs-Financial Square Tax-Free Money Market Fund	0.205%
Goldman Sachs Government Income Fund	0.54% on first $1 billion
	0.49% over $1 billion up to $2 billion
	0.47% over $2 billion up to $5 billion
	0.46% over $5 billion up to $8 billion
	0.45% over $8 billion
Goldman Sachs Municipal Income Fund	0.55% on first $1 billion
	0.50% over $1 billion up to $2 billion
	0.48% over $2 billion up to $5 billion
	0.47% over $5 billion up to $8 billion
	0.46% over $8 billion
Goldman Sachs High Yield Fund	0.70% on first $2 billion
	0.63% over $2 billion up to $5 billion
	0.60% over $5 billion up to $8 billion
	0.59% over $8 billion
Goldman Sachs Income Builder Fund	0.65% on first $1 billion
	0.59% over $1 billion up to $2 billion
	0.56% over $2 billion up to $5 billion
	0.55% over $5 billion up to $8 billion
	0.54% over $8 billion
Goldman Sachs Growth and Income Fund	0.70% on first $1 billion
	0.63% over $1 billion up to $2 billion
	0.60% over $2 billion up to $5 billion
	0.59% over $5 billion up to $8 billion
	0.58% over $8 billion
Goldman Sachs Mid Cap Value Fund	0.75% on first $2 billion
	0.68% over $2 billion up to $5 billion
	0.65% over $5 billion up to $8 billion
	0.64% over $8 billion

Goldman Sachs Small Cap Value Fund	1.00% on first $2 billion
	0.90% over $2 billion up to $5 billion
	0.86% over $5 billion up to $8 billion
	0.84% over $8 billion
Goldman Sachs Capital Growth Fund	1.00% on first $1 billion
	0.90% over $1 billion up to $2 billion
	0.80% over $2 billion
Goldman Sachs Structured U.S. Equity Fund	0.65% on first $1 billion
	0.59% over $1 billion up to $2 billion
	0.56% over $2 billion up to $5 billion
	0.55% over $5 billion up to $8 billion
	0.54% over $8 billion
Goldman Sachs Structured Large Cap Growth Fund	0.65% on first $1 billion
	0.59% over $1 billion up to $2 billion
	0.56% over $2 billion up to $5 billion
	0.55% over $5 billion up to $8 billion
	0.54% over $8 billion
Goldman Sachs Structured Small Cap Equity Fund1	0.85% on first $2 billion
	0.77% over $2 billion up to $5 billion
	0.73% over $5 billion up to $8 billion
	0.72% over $8 billion
Goldman Sachs Structured International Equity Fund1	0.85% on first $1 billion
	0.77% over $1 billion up to $2 billion
	0.73% over $2 billion up to $5 billion
	0.72% over $5 billion up to $8 billion
	0.71% over $8 billion
Goldman Sachs Real Estate Securities Fund1	1.00% on first $1 billion
	0.90% over $1 billion up to $2 billion
	0.86% over $2 billion up to $5 billion
	0.84% over $5 billion up to $8 billion
	0.82% over $8 billion
Goldman Sachs Structured Large Cap Value Fund3	0.60% on first $1 billion
	0.54% over $1 billion up to $2 billion
	0.51% over $2 billion up to $5 billion
	0.50% over $5 billion up to $8 billion
	0.49% over $8 billion
Goldman Sachs Strategic Growth Fund4	1.00% on first $1 billion
	0.90% over $1 billion up to $2 billion
	0.86% over $2 billion up to $5 billion
	0.84% over $5 billion up to $8 billion
	0.82% over $8 billion
Goldman Sachs Growth Opportunities Fund4	1.00% on first $2 billion
	0.90% over $2 billion up to $5 billion
	0.86% over $5 billion up to $8 billion
	0.84% over $8 billion
Goldman Sachs Technology Tollkeeper Fund5	1.00% on first $1 billion
	0.90% over $1 billion up to $2 billion
	0.86% over $2 billion up to $5 billion
	0.84% over $5 billion up to $8 billion
	0.82% over $8 billion

Goldman Sachs Large Cap Value Fund6	0.75% on first $1 billion
	0.68% over $1 billion up to $2 billion
	0.65% over $2 billion up to $5 billion
	0.64% over $5 billion up to $8 billion
	0.63% over $8 billion
Goldman Sachs High Yield Municipal Fund7	0.55% on first $2 billion
	0.50% over $2 billion up to $5 billion
	0.48% over $5 billion up to $8 billion
	0.47% over $8 billion
Goldman Sachs Structured Tax–Managed Equity Fund7	0.70% on first $1 billion
	0.63% over $1 billion up to $2 billion
	0.60% over $2 billion up to $5 billion
	0.59% over $5 billion up to $8 billion
	0.58% over $8 billion
Goldman Sachs Enhanced Income Fund8	0.25% on first $1 billion
	0.23% over $1 billion up to $2 billion
	0.22% over $2 billion up to $5 billion
	0.22% over $5 billion up to $8 billion
	0.22% over $8 billion
Goldman Sachs Concentrated Growth Fund9	1.00% on first $1 billion
	0.90% over $1 billion up to $2 billion
	0.86% over $2 billion up to $5 billion
	0.84% over $5 billion up to $8 billion
	0.82% over $8 billion
Goldman Sachs Emerging Markets Debt Fund10	0.80% on first $2 billion
	0.72% over $2 billion up to $5 billion
	0.68% over $5 billion up to $8 billion
	0.67% over $8 billion
Goldman Sachs U.S. Mortgages Fund11	0.40% on first $1 billion
	0.36% over $1 billion up to $2 billion
	0.34% over $2 billion up to $5 billion
	0.33% over $5 billion up to $8 billion
	0.32% over $8 billion
Goldman Sachs Investment Grade Credit Fund11	0.40% on first $1 billion
	0.36% over $1 billion up to $2 billion
	0.34% over $2 billion up to $5 billion
	0.33% over $5 billion up to $8 billion
	0.32% over $8 billion
Goldman Sachs Small/Mid-Cap Growth Fund12	1.00% on the first $2 billion
	0.90% over $2 billion up to $5 billion
	0.86% over $5 billion up to $8 billion
	0.84% over $8 billion
Goldman Sachs U.S. Equity Dividend and Premium Fund13	0.75% on first $1 billion
	0.68% over $1 billion up to $2 billion
	0.65% over $2 billion up to $5 billion
	0.64% over $5 billion up to $8 billion
	0.63% over $8 billion

Goldman Sachs International Real Estate Securities Fund14	1.05% on first $2 billion
	0.95% over $2 billion up to $5 billion
	0.90% over $5 billion up to $8 billion
	0.88% over $8 billion
Goldman Sachs Core Plus Fixed Income Fund15	0.45% on first $1 billion
	0.41% over $1 billion up to $2 billion
	0.39% over $2 billion up to $5 billion
	0.38% over $5 billion up to $8 billion
	0.37% over $8 billion
Goldman Sachs Structured Small Cap Value Fund16	0.85% on first $2 billion
	0.77% over $2 billion up to $5 billion
	0.73% over $5 billion up to $8 billion
	0.72% over $8 billion
Goldman Sachs Structured Small Cap Growth Fund16	0.85% on first $2 billion
	0.77% over $2 billion up to $5 billion
	0.73% over $5 billion up to $8 billion
	0.72% over $8 billion
Goldman Sachs Commodity Strategy Fund17	0.50% up to $2 billion
	0.45% over $2 billion up to $5 billion
	0.43% over $5 billion up to $8 billion
	0.42% over $8 billion
Goldman Sachs Structured Emerging Markets Equity Fund18	1.00% on first $2 billion
	0.90% over $2 billion up to $5 billion
	0.86% over $5 billion up to $8 billion
	0.84% over $8 billion
Goldman Sachs Structured International Small Cap Fund18	0.85% on first $2 billion
	0.77% over $2 billion up to $5 billion
	0.73% over $5 billion up to $8 billion
	0.72% over $8 billion
Goldman Sachs Structured International Tax-Managed Equity Fund18	0.85% on first $1 billion 0.77% over $1 billion up to $2 billion 0.73% over $2 billion up to $5 billion 0.72% over $5 billion up to $8 billion 0.71% over $8 billion
Goldman Sachs International Equity Dividend and Premium Fund18	0.81% on first $1 billion
	0.73% over $1 billion up to $2 billion
	0.69% over $2 billion up to $5 billion
	0.68% over $5 billion up to $8 billion
	0.67% over $8 billion
Goldman Sachs Inflation Protected Securities Fund19	0.33% on first $1 billion
	0.30% over $1 billion up to $2 billion
	0.28% over $2 billion up to $5 billion
	0.27% over $5 billion up to $8 billion
	0.26% over $8 billion
Goldman Sachs Absolute Return Tracker Fund20	1.15% on first $1 billion
	1.04% over $1 billion up to $2 billion
	0.99% over $2 billion up to $5 billion
	0.97% over $5 billion up to $8 billion
	0.95% over $8 billion

Goldman Sachs Local Emerging Markets Debt Fund21	0.90% on first $2 billion
	0.81% over $2 billion up to $5 billion
	0.77% over $5 billion up to $8 billion
	0.75% over $8 billion
Goldman Sachs Flexible Cap Growth Fund21	1.00% on first $1 billion
	0.90% over $1 billion up to $2 billion
	0.86% over $2 billion up to $5 billion
	0.84% over $5 billion up to $8 billion
	0.82% over $8 billion
Goldman Sachs U.S. Equity Fund22	0.70% on first $1 billion
	0.63% over $1 billion up to $2 billion
	0.60% over $2 billion up to $5 billion
	0.59% over $5 billion up to $8 billion
	0.58% over $8 billion
Goldman Sachs Dynamic Allocation Fund22	0.90% on first $1 billion
	0.81% over $1 billion up to $2 billion
	0.77% over $2 billion up to $5 billion
	0.75% over $5 billion up to $8 billion
	0.74% over $8 billion
Goldman Sachs Strategic Income Fund23	0.60% on first $1 billion
	0.54% over $1 billion up to $2 billion
	0.51% over $2 billion up to $5 billion
	0.50% over $5 billion up to $8 billion
	0.49% over $8 billion
Goldman Sachs High Yield Floating Rate Fund24	0.60% on first $1 billion
	0.54% over $1 billion up to $2 billion
	0.51% over $2 billion up to $5 billion
	0.50% over $5 billion up to $8 billion
	0.49% over $8 billion
Goldman Sachs Managed Futures Strategy Fund25	1.00% on first $1 billion
	0.90% over $1 billion up to $2 billion
	0.86% over $2 billion up to $5 billion
	0.84% over $5 billion up to $8 billion
	0.82% over $8 billion
Goldman Sachs Rising Dividend Growth Fund25	0.75% on first $1 billion
	0.68% over $1 billion up to $2 billion
	0.64% over $2 billion up to $5 billion
	0.63% over $5 billion up to $8 billion
	0.62% over $8 billion
Goldman Sachs Focused Growth Fund26	1.00% on first $1 billion
	0.90% over $1 billion up to $2 billion
	0.86% over $2 billion up to $5 billion
	0.84% over $5 billion up to $8 billion
	0.82% over $8 billion

Goldman Sachs Short Duration Income Fund27	0.40% on first $1 billion
	0.36% over $1 billion up to $2 billion
	0.34% over $2 billion up to $5 billion
	0.33% over $5 billion up to $8 billion
	0.32% over $8 billion
Goldman Sachs Retirement Portfolio Completion Fund28	0.45% on first $1 billion
	0.41% over $1 billion up to $2 billion
	0.38% over $2 billion up to $5 billion
	0.37% over $5 billion up to $8 billion
	0.36% over $8 billion
Goldman Sachs Asset Management International
Goldman Sachs Global Income Fund	0.65% on first $1 billion
	0.59% over $1 billion up to $2 billion
	0.56% over $2 billion up to $5 billion
	0.55% over $5 billion up to $8 billion
	0.54% over $8 billion
Goldman Sachs Concentrated International Equity Fund	1.00% on first $1 billion
	0.90% over $1 billion up to $2 billion
	0.86% over $2 billion up to $5 billion
	0.84% over $5 billion up to $8 billion
	0.82% over $8 billion
Goldman Sachs Emerging Markets Equity Fund	1.20% on first $2 billion
	1.08% over $2 billion up to $5 billion
	1.03% over $5 billion up to $8 billion
	1.01% over $8 billion
Goldman Sachs Asia Equity Fund	1.00% on first $1 billion
	0.90% over $1 billion up to $2 billion
	0.86% over $2 billion up to $5 billion
	0.84% over $5 billion up to $8 billion
	0.82% over $8 billion
Goldman Sachs International Small Cap Fund2	1.10% on first $2 billion
	0.99% over $2 billion up to $5 billion
	0.94% over $5 billion up to $8 billion
	0.92% over $8 billion
Goldman Sachs BRIC Fund14	1.30% on the first $2 billion
	1.17% over $2 billion up to $5 billion
	1.11% over $5 billion up to $8 billion
	1.09% over $8 billion
Goldman Sachs Strategic International Equity Fund16	0.85% on first $1 billion
	0.77% over $1 billion up to $2 billion
	0.73% over $2 billion up to $5 billion
	0.72% over $5 billion up to $8 billion
	0.71% over $8 billion
Goldman Sachs Brazil Equity Fund24	1.10% on first $1 billion
	0.99% over $1 billion up to $2 billion
	0.94% over $2 billion up to $5 billion
	0.92% over $5 billion up to $8 billion
	0.90% over $8 billion

Goldman Sachs China Equity Fund24	1.10% on first $1 billion
	0.99% over $1 billion up to $2 billion
	0.94% over $2 billion up to $5 billion
	0.92% over $5 billion up to $8 billion
	0.90% over $8 billion
Goldman Sachs India Equity Fund24	1.10% on first $1 billion
	0.99% over $1 billion up to $2 billion
	0.94% over $2 billion up to $5 billion
	0.92% over $5 billion up to $8 billion
	0.90% over $8 billion
Goldman Sachs Korea Equity Fund24	1.10% on first $1 billion
	0.99% over $1 billion up to $2 billion
	0.94% over $2 billion up to $5 billion
	0.92% over $5 billion up to $8 billion
	0.90% over $8 billion
Goldman Sachs N-11 Equity Fund24	1.30% on first $2 billion
	1.24% over $2 billion up to $5 billion
	1.21% over $5 billion up to $8 billion
	1.19% over $8 billion
Goldman Sachs World Bond Fund	0.65% on first $1 billion
	0.59% over $1 billion up to $2 billion
	0.56% over $2 billion up to $5 billion
	0.54% over $5 billion up to $8 billion
	0.53% over $8 billion

PURSUANT TO AN EXEMPTION FROM THE COMMODITIES FUTURES TRADING COMMISSION (“CFTC”) IN CONNECTION WITH ACCOUNTS OF QUALIFIED ELIGIBLE CLIENTS, THIS ACCOUNT DOCUMENT IS NOT REQUIRED TO BE, AND HAS NOT BEEN FILED WITH THE CFTC. THE CFTC DOES NOT PASS UPON THE MERITS OF PARTICIPATING IN A TRADING PROGRAM OR UPON THE ADEQUACY OR ACCURACY OR COMMODITY TRADING ADVISOR DISCLOSURE. CONSEQUENTLY, THE CFTC HAS NOT REVIEWED OR APPROVED THE TRADING PROGRAM ADOPTED HEREUNDER OR ANY BROCHURE OR ACCOUNT DOCUMENT.

Dated: October 18, 2012	GOLDMAN SACHS TRUST
	By:	/s/ James McNamara
	Name: James McNamara
	Title: President

GOLDMAN SACHS ASSET MANAGEMENT, L.P.		GOLDMAN SACHS ASSET MANAGEMENT INTERNATIONAL
By:	/s/ Kenneth Topping	By:	/s/ Theodore Sotir
Name: Kenneth Topping		Name: Theodore Sotir
Title: Managing Director		Title: Managing Director

1 This Management Agreement was approved on behalf of the Structured Small Cap Equity Fund (formerly CORE Small Cap Equity Fund), Structured International Equity Fund (formerly, CORE International Equity Fund) and Real Estate Securities Fund at the July 21, 1997 Goldman Sachs Trust Board Meeting.

2 This Management Agreement was approved on behalf of the International Small Cap Fund at the April 23, 1998 Goldman Sachs Trust Board Meeting.

3 This Management Agreement was approved on behalf of the Structured Large Cap Value Fund (formerly, CORE Large Cap Value Fund) at the November 3, 1998 Goldman Sachs Trust Board Meeting.

4 This Management Agreement was approved on behalf of the Strategic Growth Fund and Growth Opportunities Fund at the April 28, 1999 Goldman Sachs Trust Board Meeting.

5 This Management Agreement was approved on behalf of the Technology Tollkeeper Fund (formerly, Tollkeeper Fund) at the July 27, 1999 Goldman Sachs Trust Board Meeting.

6 This Management Agreement was approved on behalf of the Large Cap Value Fund at the October 26, 1999 Goldman Sachs Trust Board Meeting.

7 This Management Agreement was approved on behalf of the High Yield Municipal Fund and the Structured Tax-Managed Equity Fund (formerly, CORE Tax-Managed Equity Fund) at the February 3, 2000 Goldman Sachs Trust Board Meeting.

8 This Management Agreement was approved on behalf of the Goldman Sachs Enhanced Income Fund at the April 26, 2000 Goldman Sachs Trust Board Meeting.

9 This Management Agreement was approved on behalf of the Concentrated Growth Fund at the August 1, 2002 Goldman Sachs Trust Board Meeting.

10 This Management Agreement was approved on behalf of the Emerging Markets Debt Fund at the July 31, 2003 Goldman Sachs Trust Board Meeting.

11 This Management Agreement was approved on behalf of the U.S. Mortgages Fund and Investment Grade Credit Fund at the October 30, 2003 Goldman Sachs Trust Board Meeting.

12 This Management Agreement was approved on behalf of the Small/Mid-Cap Growth Fund at the May 12, 2005 Goldman Sachs Trust Board Meeting.

13 This Management Agreement was approved on behalf of the U.S. Equity Dividend and Premium Fund at the June 16, 2005 Goldman Sachs Trust Board Meeting.

14 This Management Agreement was approved on behalf of the International Real Estate Securities Fund and BRIC Fund at the May 11, 2006 Goldman Sachs Trust Board Meeting.

15 This Management Agreement was approved on behalf of the Core Plus Fixed Income Fund at the August 10, 2006 Goldman Sachs Trust Board Meeting.

16 This Management Agreement was approved on behalf of the Structured Small Cap Value, Structured Small Cap Growth and Strategic International Equity Funds at the November 9, 2006 Goldman Sachs Trust Board Meeting.

17 This Management Agreement was approved on behalf of the Commodity Strategy Fund (formerly, Commodity Exposure Fund) at the December 14, 2006 Goldman Sachs Trust Board Meeting.

18 This Management Agreement was approved on behalf of the Structured Emerging Markets Equity Fund, Structured International Small Cap Fund, Structured International Tax-Managed Equity Fund and International Equity Dividend and Premium Fund at the May 10, 2007 Goldman Sachs Trust Board Meeting.

19 This Management Agreement was approved on behalf of the Inflation Protected Securities Fund at the June 14, 2007 Goldman Sachs Trust Board Meeting.

20 This Management Agreement was approved on behalf of the Absolute Return Tracker Fund at the November 8, 2007 Goldman Sachs Trust Board Meeting.

21 This Management Agreement was approved on behalf of the Local Emerging Markets Debt Fund and Flexible Cap Growth Fund (formerly, All Cap Growth Fund) at the December 13, 2007 Goldman Sachs Trust Board Meeting.

22 This Management Agreement was approved on behalf of the U.S. Equity Fund and Dynamic Allocation Fund at the November 19, 2009 Goldman Sachs Trust Board Meeting.

23 This Management Agreement was approved on behalf of the Strategic Income Fund at the June 17, 2010 Goldman Sachs Trust Board Meeting.

24 This Management Agreement was approved on behalf of the Brazil Equity Fund, China Equity Fund, India Equity Fund, Korea Equity Fund, N-11 Equity Fund and High Yield Floating Rate Fund at the February 10, 2011 Goldman Sachs Trust Board Meeting.

25 This Management Agreement was approved on behalf of the Managed Futures Strategy Fund and Rising Dividend Growth Fund at the October 20, 2011 Goldman Sachs Trust Board Meeting.

26 This Management Agreement was approved on behalf of the Focused Growth Fund at the December 15, 2011 Goldman Sachs Trust Board Meeting.

27 This Management Agreement was approved on behalf of the Short Duration Income Fund at the February 16, 2012 Goldman Sachs Trust Board Meeting.

28 This Management Agreement was approved on behalf of the Retirement Portfolio Completion Fund at the August 16, 2012 Goldman Sachs Trust Board Meeting.