FEE REDUCTION AGREEMENT

Exhibit (h)(1)(b)

                                          FEE REDUCTION AGREEMENT

AGREEMENT made as of this 28^th day of July 2006, between Xxxxx Xxxxx Growth Trust
(the “Trust”), on behalf of Xxxxx Xxxxx Global Growth Fund (the “Fund”), and Xxxxx Xxxxx
Management (“Xxxxx Xxxxx”).

WHEREAS, the Trust, on behalf of the Fund and certain other series of the Trust, has
entered into a certain Management Contract with Xxxxx Xxxxx dated June 23, 1997 (“Management
Contract”), which Management Contract provides that Xxxxx Xxxxx shall be entitled to receive an
asset-based fee payable at a certain rate; and

WHEREAS, with respect to the Fund, Xxxxx Xxxxx has offered to reduce such asset-
based fee rate, and the Trust, on behalf of the Fund, has accepted such fee reduction, such fee
reduction being effective as of July 28, 2006; and

WHEREAS, Xxxxx Xxxxx and the Trust wish to memorialize said fee reduction in
writing;

NOW, THEREFORE, in consideration of the mutual covenants and agreements
contained herein and for other good and valuable consideration, receipt of which is hereby
acknowledged, the Trust, on behalf of the Fund, and Xxxxx Xxxxx hereby agree as follows:

1. For so long as the Management Contract shall remain in effect, notwithstanding any
provisions of the Management Contract to the contrary, Xxxxx Xxxxx will reduce its
asset-based fee for the Fund by 0.125% annually.

2. This Agreement may only be terminated or amended upon the mutual written consent of
the Trust and Xxxxx Xxxxx, as applicable; provided, however, that no termination or
amendment of this Agreement shall be effective unless approved by the majority vote of
those Trustees of the Trust who are not interested persons of Xxxxx Xxxxx and the Trust.

3. This instrument is executed under seal and shall be governed by Massachusetts law.

IN WITNESS WHEREOF, this Agreement has been executed as of the date set forth
above by a duly authorized officer of each party.

Xxxxx Xxxxx Growth Trust, on behalf of
Xxxxx Xxxxx Global Growth Fund
By:		/s/Xxxxxx X. Xxxxx Xx.
		President
Xxxxx Xxxxx Management
By:		/s/Xxxx X. Xxxxxx
		Vice President