Exhibit (d)(2) EXPENSE LIMITATION AGREEMENT
Exhibit (d)(2)
AGREEMENT made this 1st day of May, 2007 by and between STI Classic Variable Trust (the “Trust”),
a Massachusetts business trust, and Trusco Capital Management Inc. (the “Adviser”) (together, the
“Parties”).
The Adviser hereby agrees to waive its fee and/or reimburse expenses to the extent necessary to
limit total operating expenses for the Funds set forth on Schedule A to the levels set forth on
Schedule A until May 1, 2008.
If at any point before May 1, 2010 it becomes unnecessary for the Adviser to make reimbursements,
the Adviser may retain the difference between the Total Annual Fund Operating Expenses of the Fund
and its expense cap to recapture any of its prior reimbursements.
The Trust acknowledges that the Adviser may engage in brokerage transactions using Fund assets with
brokers who agree to pay a portion of the Fund’s expenses, and that the Adviser’s guarantee of Fund
expense ratios takes into account these expenses-limiting arrangements.
IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed as of the day and
year first written above.
| STI CLASSIC VARIABLE TRUST | TRUSCO CAPITAL MANAGEMENT INC. | |||||||
By:
|
/s/ Xxxxx X. Short | By: | /s/ Xxxxxxx X. Xxxxxxxxx | |||||
Title:
|
President | Title: | CCO | |||||
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SCHEDULE A
| TOTAL | ||||
| OPERATING | ||||
| EXPENSE | ||||
| FUND | LIMITATIONS | |||
Large Cap Core Equity Fund (formerly, Large Cap Relative Value
Fund)* |
1.00 | % | ||
Large Cap Growth Stock Fund (formerly, Capital Appreciation Fund)* |
1.05 | % | ||
Large Cap Value Equity Fund |
0.95 | % | ||
Mid-Cap Core Equity Fund (formerly, Mid-Cap Equity Fund)* |
1.10 | % | ||
Small Cap Value Equity Fund |
1.20 | % | ||
| * | Name change effective May 31, 2007. |
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