FEE WAIVER AGREEMENT NATIONWIDE GOVERNMENT MONEY MARKET FUND
EX-16.13.l
NATIONWIDE GOVERNMENT MONEY MARKET FUND
THIS FEE WAIVER AGREEMENT, effective as of July 1, 2020, by and between NATIONWIDE FUND ADVISORS (“NFA”) and
NATIONWIDE MUTUAL FUNDS, a Delaware statutory trust (the “Trust”), on behalf of the Nationwide Government Money Market Fund (the “Fund”).
WHEREAS, the Trust is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management company
of the series type, and the Fund is a separate series of the Trust; and
WHEREAS, NFA serves as investment adviser to the Trust, including the Fund, pursuant to an investment advisory
agreement, dated May 1, 2007, between NFA and the Trust, under which the Trust pays fees to NFA as specified therein (“Advisory Fees”); and
WHEREAS, NFA has replaced the Fund’s previous subadviser with a new subadviser, Dreyfus Cash Investment Strategies, a
division of BNY Mellon Investment Adviser, Inc. (“Dreyfus”), resulting in a reduction in the fee amount NFA must pay to subadvisers to subadvise the Fund (“New Subadvisory Fee Rate”), resulting in financial savings to NFA; and
WHEREAS, NFA desires to share such financial savings resulting from the New Subadvisory Fee Rate with shareholders of
the Fund.
NOW, THEREFORE, the parties hereto agree as follows:
1. Fee Waiver Amount:
1.1 NFA agrees to waive an amount of
Advisory Fees in respect of the Fund equal to 0.027% per annum, calculated monthly based on the Fund’s average daily net assets. NFA
acknowledges that it shall not be entitled to collect on, or make a claim for, Advisory Fees waived hereunder at any time in the future.
2. Term and Termination of Agreement:
2.1 This
Agreement shall continue in effect until either (i) the termination of Dreyfus as the Fund’s subadviser; or (ii) the addition to the Fund of a new subadviser that would cause an increase to the New Subadvisory Fee Rate, provided that any such
termination or addition be approved by the Board of Trustees.
3. Miscellaneous:
3.1 Captions. The captions in this Agreement are included for convenience of reference only and in no other way define or delineate any of the provisions hereof or
otherwise affect their construction or effect.
3.2 Interpretation. Nothing herein contained shall be deemed to require the Trust or the Fund to take any action contrary to the Trust’s Agreement and Declaration
of Trust or By-Laws, or any applicable statutory or regulatory requirement to which the Trust or the Fund is subject or by which the
Trust or the Fund is bound, or to relieve or deprive the Trust’s Board of Trustees of the Board’s responsibility for and control of the
conduct of the affairs of the Trust or the Fund.
IN WITNESS WHEREOF, the parties have caused this Agreement to be signed by their respective officers thereunto duly
authorized as of the day and year first above written.
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By: /s/ Xxxxxxx X. Xxxxxxxx
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Name: Xxxxxxx X. Xxxxxxxx
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Title: President
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NATIONWIDE FUND ADVISORS
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By: /s/ Xxxxxxx X. Xxxxxxxx
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Name: Xxxxxxx X. Xxxxxxxx
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Title: President
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