November 3, 2011 Mr. Mark E. Swanson Treasurer Russell Exchange Traded Funds Trust
RET Factor 2000
through 07/29/14
November 3, 2011
Xx. Xxxx X. Xxxxxxx
Treasurer
Xxxxxxx Exchange Traded Funds Trust
0000 0xx Xxxxxx
Seattle, WA 98101
RE: Xxxxxxx Exchange Traded Funds Trust – Series listed on Appendix A (the “Funds”)
Dear Xx. Xxxxxxx:
Xxxxxxx Investment Management Company (“RIMCo”), as adviser of the Funds, agrees to waive, until July 29, 2014, 0.39% of its 0.69% management fee for each of the Funds.
This agreement (1) supersedes any prior waiver or reimbursement arrangements, (2) may not be terminated during the relevant period except at the Board’s discretion and (3) may, at RIMCo’s option, continue after July 29, 2014, but may be revised or eliminated at any time thereafter without notice.
If this arrangement is acceptable to you, please sign below to indicate your acceptance and agreement and return a copy of this letter to me.
Sincerely,
XXXXXXX INVESTMENT
MANAGEMENT COMPANY
| By: |
/s/ Xxxxx Xxxxxxx | |
| Xxxxx Xxxxxxx | ||
| President and Chief Executive Officer |
Accepted and Agreed: November 3, 2011
XXXXXXX EXCHANGE TRADED FUNDS TRUST
| By: |
/s/ Xxxx X. Xxxxxxx | |
| Xxxx X. Xxxxxxx | ||
| Treasurer and Chief Accounting Officer |
APPENDIX A
Xxxxxxx 2000 Low Beta ETF
Xxxxxxx 2000 High Beta ETF
Xxxxxxx 2000 Low Volatility ETF
Xxxxxxx 2000 High Volatility ETF
Xxxxxxx 2000 High Momentum ETF
