November 30, 2005 JPMorgan Trust I 522 Fifth Avenue New York, NY 10036 Dear Sirs:
Exhibit 99(h)(5)(c)
November 30, 2005
JPMorgan Trust I
000 Xxxxx Xxxxxx
Xxx Xxxx, XX 00000
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 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 dividend expenses on securities sold short, interest, taxes, extraordinary expenses and expenses related to the JPMorgan Funds’ deferred compensation plan.
In addition, X.X. Xxxxxx Investment Management Inc. xxxxxx agrees to waive fees to which it is entitled or to reimburse the Fund listed on Schedule B for the time periods so indicated.
The JPMorgan Service Providers understand and intend that the Funds will rely on this agreement in preparing and filings 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. | ||
/s/ Xxxxxx
X.X. Xxxxx By: Xxxxxx X.X. Xxxxx, Director |
/s/ Xxxxx X. Xxxxxx By: Xxxxx X. Xxxxxx |
||
Accepted By: JPMorgan Trust I | |||
/s/ Xxxxxx X. Xxxxx By: Xxxxxx X. Xxxxx |
SCHEDULE A
Fund Name | Class | Fiscal Year End |
Expense Cap | Expense Cap Period End |
|||||
---|---|---|---|---|---|---|---|---|---|
Highbridge Statistical | Class A | October 31 | 1.95 | % | February 28, 2007 | ||||
Market Neutral Fund | Class C | 2.45 | % | ||||||
Select | 1.70 | % | |||||||
Institutional | 1.55 | % |
SCHEDULE B
Fund Name | Fiscal Year End |
Advisory Fee Cap |
Advisory Fee Cap Period | ||||
---|---|---|---|---|---|---|---|
Highbridge Statistical | October 31 | 1.50% | Until the Fund commences with the | ||||
Market Neutral Fund | borrowing of money from banks for | ||||||
investment purposes |