RE: SSgA Funds Waiver and Reimbursement Agreement
Exhibit 28(d)(6)
December 18, 2013
Xx. Xxxxx X. Xxxx
Treasurer and Principal Financial Officer
c/o State Street Corporation
Xxx Xxxxxxx Xxxxxx
Boston, Massachusetts 02111
| RE: | SSgA Funds Waiver and Reimbursement Agreement |
Dear Xxxxx:
SSgA Funds Management, Inc. (“SSgA FM”), as advisor to the SSgA Funds (the “Funds”), agrees until December 31, 2014 to (i) waive up to the full amount of the advisory fee payable by a Fund, and (ii) to reimburse the Institutional Class of a Fund (exclusive of non-recurring account fees, extraordinary expenses and acquired fund fees and as measured on an annualized basis) to the level of the expense limitation for the Institutional Class of each Fund stated below:
| SSgA Fund Name |
Total Expense Reimbursement |
Expiration Date | ||
| Enhanced Small Cap | All expenses in excess of .75% | December 31, 2014 | ||
| Emerging Markets | All expenses in excess of 1.25% | December 31, 2014 | ||
| High Yield Bond | All expenses in excess of .75% | December 31, 2014 | ||
| IAM SHARES | All expenses in excess of .65% | December 31, 2014 | ||
| International Stock Selection | All expenses in excess of 1.00% | December 31, 2014 | ||
| Money Market | All expenses in excess of .40% | December 31, 2014 | ||
| Prime Money Market | All expenses in excess of .20% | December 31, 2014 | ||
| S&P 500 Index | All expenses in excess of .18% | December 31, 2014 | ||
| Dynamic Small Cap | All expenses in excess of 1.25% | December 31, 2014 | ||
| Clarion Real Estate | All expenses in excess of 1.00% | December 31, 2014 | ||
| U.S. Treasury Money Market | All expenses in excess of .20% | December 31, 2014 |
In addition, SSgA FM agrees to the following management fee waivers on an annual basis for certain Funds in the amounts and for the expiration dates shown in the table below.
| SSgA Fund Name |
Management Fee Waiver |
Expiration Date | ||
| Prime Money Market | .05% of .15% management fee | December 31, 2014 | ||
| U.S. Treasury Money Market | .05% of .15% management fee | December 31, 2014 |
Prior to December 31, 2014, this agreement may not be terminated with respect to a class of shares of a Fund without the approval of the Board of Trustees. This agreement supersedes any prior voluntary waiver or reimbursement arrangements for the Funds specifically named above and may, at SSgA FM’s option, continue after the dates designated above.
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, | ||
| SSgA FUNDS MANAGEMENT, INC. | ||
| By: | /s/ Xxxxx X. Xxxxxxx | |
| Xxxxx X. Xxxxxxx, Senior Managing Director and President | ||
| Accepted and Agreed: | ||
| SSgA Funds, on behalf of the portfolios named above | ||
| By: | /s/ Xxxxx X. Xxxx | |
| Xxxxx X. Xxxx | ||
| Treasurer and Principal Financial Officer | ||
