April 30, 2011 Marie Chandoha President and Chief Executive Officer of Charles Schwab Investment Management, Inc. 211 Main Street San Francisco, CA 94105 Re: The Charles Schwab Family of Funds Dear Ms. Chandoha:

Exhibit (d)(vii)

April 30, 2011

Xxxxx Xxxxxxxx
President and Chief Executive Officer of
Xxxxxxx Xxxxxx Investment Management, Inc.
000 Xxxx Xxxxxx
Xxx Xxxxxxxxx, XX 00000

Re: The Xxxxxxx Xxxxxx Family of Funds

Dear Xx. Xxxxxxxx:

This letter will confirm our agreement to limit net operating expenses of the following funds, as noted in the table below and described in the funds’ registration statements filed with the Securities and Exchange Commission.

		Net Operating		Guaranteed
Fund		Expense Limit		Through
Schwab Municipal Money Fund — Select Shares		35 bps		4/29/13
Schwab Municipal Money Fund — Institutional Shares		24 bps		4/29/13
Xxxxxx Value Advantage Money Fund — Select Shares		35 bps		4/29/13
Xxxxxx Value Advantage Money Fund — Institutional Shares		24 bps		4/29/13
Schwab Retirement Advantage Money Fund		49 bps		4/29/13
Xxxxxx Value Advantage Money Fund — Institutional Prime Shares		21 bps		4/29/13

Sincerely,

/s/ Xxxxxx Xxxxxxx		/s/ Xxxxxxxx Xxxxxx
Xxxxxx Xxxxxxx		Xxxxxxxx Xxxxxx
Senior Vice President,		Vice President,
Chief Financial Officer and		Client Solutions and
Chief Operating Officer		IMS Product Management
Xxxxxxx Xxxxxx Investment Management, Inc.		Xxxxxxx Xxxxxx & Co., Inc.

cc:

Xxxx, Xxxx
Xxxxxxxx, Xxxxx
Xxx, Xxxxxxx
Xxxxxx, Xxxxxx
Xxxxxx, Xxxxxxxx
Xxxx, Xxxxxxx
Xxx, Xxxxxx
Xxxxxx, Xxxxx
Xxxxxxxxx, Xxxxxxx
Xxxxxxxxxx, Xxxxx
Xxxxxxx, Xxxxxx
Xxxxxx, Xxx

Acknowledged:

/s/ Xxxxx Xxxxxxxx  

Xxxxx Xxxxxxxx 

President and Chief Executive Officer of
The Xxxxxxx Xxxxxx Family of Funds