Common use of Existing Agreements Superseded Clause in Contracts

Existing Agreements Superseded. In the case of each Fund, to the extent that this Agreement provides for expense limit arrangements for the same classes of the Fund to which an existing expense limit agreement relates (each an "Existing Agreement"), this Agreement shall supersede and replace the Existing Agreement. In witness whereof, the parties hereto have caused this Agreement to be signed as of the 15th day of September, 2006. Each of the Funds Listed on Annex A. By: /s/ Osbert M. Hood -------------------------- Name: Osbert M. Hood Title: Executive Vice President PIONEER INVESTMENT MANAGEMENT, INC.

Existing Agreements Superseded. In the case of each Fund, to the extent that this Agreement provides for expense limit arrangements for the same classes of the Fund to which an existing expense limit agreement relates (each an "Existing Agreement"), this Agreement shall supersede and replace the Existing Agreement. In witness whereof, the parties hereto have caused this Agreement to be signed as of the 15th 1st day of SeptemberNovember, 2006. Each of the Funds Listed on Annex A. By: /s/ Osbert M. Hood -------------------------- Name: Osbert M. Hood Title: Executive Vice President PIONEER INVESTMENT MANAGEMENT, INC.

Existing Agreements Superseded. In the case of each Fund, to the extent that this Agreement provides for expense limit arrangements for the same classes of the Fund to which an existing expense limit agreement relates (each an "Existing Agreement"), this Agreement shall supersede and replace the Existing Agreement. In witness whereof, the parties hereto have caused this Agreement to be signed as of the 15th [ ] day of September[ ], 20062007. Each of the Funds Listed on Annex A. By: /s/ Osbert M. Hood -------------------------- ----------------------------------- Name: Osbert M. Hood Title: Executive Vice President PIONEER INVESTMENT MANAGEMENT, INC.

Existing Agreements Superseded. In the case of each Fund, to the extent that this Agreement provides for expense limit arrangements for the same classes of the Fund to which an existing expense limit agreement relates (each an "Existing Agreement"), this Agreement shall supersede and replace the Existing Agreement. In witness whereof, the parties hereto have caused this Agreement to be signed as of the 15th 1st day of SeptemberDecember, 2006. Each of the Funds Listed on Annex A. By: /s/ Osbert M. Hood -------------------------- Name: Osbert M. Hood Title: Executive Vice President PIONEER INVESTMENT MANAGEMENT, INC.