EXPENSE LIMITATION AGREEMENT NEUBERGER BERMAN EQUITY FUNDS
EXPENSE LIMITATION AGREEMENT
XXXXXXXXX XXXXXX EQUITY FUNDS
XXXXXXXXX XXXXXX CENTURY FUND
000 Xxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000-0000
April 3, 2009
Xxxxxxxxx Xxxxxx Management LLC
000 Xxxxx Xxxxxx, 0xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000-0000
Dear Ladies and Gentlemen:
Xxxxxxxxx Xxxxxx Century Fund (the “Fund”) is a series of Xxxxxxxxx Xxxxxx Equity Funds, a Delaware statutory trust (“Trust”).
You hereby agree during the respective period noted on Schedule A (“Limitation Period”), to forgo current payment of fees and/or >reimburse annual operating expenses of each Class of the Fund noted on Schedule A (excluding interest, taxes, brokerage commissions, and extraordinary expenses of the Fund) (“Operating Expenses”), so that the Operating Expenses of that Class are limited to the rate per annum of its average daily net assets noted on Schedule A (“Expense Limitation”).
The Fund agrees to repay you out of assets attributable to each Class noted on Schedule A for any fees forgone by you under the Expense Limitation or any Operating Expenses you reimburse in excess of the Expense Limitation, provided the repayments do not cause that Class’ total operating expenses (exclusive of interest, taxes, brokerage commissions and extraordinary expenses) to exceed the respective annual rate of average daily net assets noted on Schedule A and the repayments are made within three years after the year in which you incurred the expense.
You understand that you shall look only to the assets attributable to the respective Class of the Fund for performance of this Agreement and for payment of any claim you may have hereunder, and neither any other series of the Trust or Class of the Fund, nor any of the Trust’s trustees, officers, employees, agents, or shareholders, whether past, present or future, shall be personally liable therefor.
This Agreement is made and to be performed principally in the State of New York, and except insofar as the Investment Company Act of 1940, as amended, or other federal laws and regulations may be controlling, this Agreement shall be governed by, and construed and enforced in accordance with, the internal laws of the State of New York. Any amendment to this Agreement shall be in writing signed by the parties hereto. This Agreement supersedes any prior agreement with respect to the subject matter hereof.
If you are in agreement with the foregoing, please sign the form of acceptance on the enclosed counterpart hereof and return the same to us.
|
Very truly yours, |
|
|
XXXXXXXXX XXXXXX EQUITY FUNDS, on behalf of |
|
|
By: /s/ Xxxxxx Xxxxx |
|
|
Title: President |
The foregoing Agreement is herebyaccepted as of April 3, 2009.
XXXXXXXXX XXXXXX MANAGEMENT LLC
By: /s/ Xxxxx Xxxxxxx
Title: Vice President
SCHEDULE A
|
Fund |
Class |
Limitation Period |
Expense Limitation |
|
Xxxxxxxxx Xxxxxx Century Fund |
A |
08/31/2013 |
1.11% |
|
C |
08/31/2013 |
1.86% |
|
|
Institutional |
08/31/2013 |
0.75% |
|
|
Investor* |
08/31/2015 |
1.11% |
* The Investor Class’ contractual expense limitation is 1.50% of average net assets until August 31, 2019 pursuant to an agreement dated as of December 19, 2008. Effective April 9, 2009, the contractual expense limitation of the Investor Class will be as shown above.
