November 1, 2012 JPMorgan Trust I
November 1, 2012
000 Xxxx Xxxxxx
New York, NY 10017
Dear Sirs:
X.X. Xxxxxx Investment Management Inc., JPMorgan Funds Management, Inc. and JPMorgan Distribution Services, Inc. (collectively, “JPMorgan Service Providers”) hereby agree to waive fees owed to each JPMorgan Service Provider or to reimburse each Fund listed on Schedule A for the time periods so indicated. The JPMorgan Service Providers will waive fees or reimburse expenses to the extent total operating expenses exceed the rate of average daily net assets also indicated on Schedule A. This expense limitation does not include acquired fund fees and expenses, dividend expenses on securities sold short, interest, taxes, expenses related to litigation and potential litigation, extraordinary expenses not incurred in the ordinary course of the Funds’ business and expenses related to the X.X. Xxxxxx Funds’ Board of Trustees deferred compensation plan.
The JPMorgan Service Providers understand and intend that the Funds will rely on this agreement in preparing and filing their registration statements on Form N-1A and in accruing the Funds’ expenses for purposes of calculating net asset value and for other purposes, and expressly permit the Funds to do so.
Please acknowledge acceptance on the enclosed copy of this letter.
Very truly yours,
X.X. Xxxxxx Investment Management Inc.
JPMorgan Funds Management, Inc.
JPMorgan Distribution Services, Inc.
By: |
Accepted by: |
JPMorgan Trust I |
By: |
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SCHEDULE A
Fund Name |
Class | Fiscal Year End | Expense Cap | Expense Cap Period End | ||||
SmartRetirement Income Fund |
Class A Class C Select Institutional Class R2 |
June 30 | 0.27% 0.92% 0.17% 0.02% 0.52% |
October 31, 2013 | ||||
SmartRetirement 2010 Fund |
Class A Class C Select Institutional Class R2 |
June 30 | 0.28% 0.93% 0.18% 0.03% 0.53% |
October 31, 2013 | ||||
SmartRetirement 2015 Fund |
Class A Class C Select Institutional Class R2 |
June 30 | 0.28% 0.93% 0.18% 0.03% 0.53% |
October 31, 2013 | ||||
SmartRetirement 2020 Fund |
Class A Class C Select Institutional Class R2 |
June 30 | 0.28% 0.93% 0.18% 0.03% 0.53% |
October 31, 2013 | ||||
SmartRetirement 2025 Fund |
Class A Class C Select Institutional Class R2 |
June 30 | 0.29% 0.94% 0.19% 0.04% 0.54% |
October 31, 2013 | ||||
SmartRetirement 2030 Fund |
Class A Class C Select Institutional Class R2 |
June 30 | 0.29% 0.94% 0.19% 0.04% 0.54% |
October 31, 2013 | ||||
SmartRetirement 2035 Fund |
Class A Class C Select Institutional Class R2 |
June 30 | 0.29% 0.94% 0.19% 0.04% 0.54% |
October 31, 2013 | ||||
SmartRetirement 2040 Fund |
Class A Class C Select Institutional Class R2 |
June 30 | 0.29% 0.94% 0.19% 0.04% 0.54% |
October 31, 2013 | ||||
SmartRetirement 2045 Fund |
Class A Class C Select Institutional Class R2 |
June 30 | 0.29% 0.94% 0.19% 0.04% 0.54% |
October 31, 2013 | ||||
SmartRetirement 2050 Fund |
Class A Class C Select Institutional Class R2 |
June 30 | 0.29% 0.94% 0.19% 0.04% 0.54% |
October 31, 2013 | ||||
SmartRetirement 2050 Fund |
Class A Class C Select Institutional Class R2 |
June 30 | 0.29% 0.94% 0.19% 0.04% 0.54% |
October 31, 2013 |
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