JANUS HENDERSON U.S. DIVIDEND INCOME FUND
Exhibit (h)(151)
XXXXX XXXXXXXXX U.S. DIVIDEND INCOME FUND
December 12, 2022
000 Xxxxxxx Xxxxxx
Denver, Colorado 80206
Ladies and Gentlemen:
As you know, Section 5 of our Investment Advisory Agreement provides for compensation payable to Xxxxx Xxxxxxxxx Investors US LLC (the “Adviser”) with respect to Janus U.S. Dividend Income Fund (the “Fund”). This letter is to inform you that the Adviser will waive all or a portion of its management fee (or otherwise reimburse/waive class specific expenses), as applicable, until January 31, 2024, under the following conditions:
In the event the operating expenses allocated to any class of the Fund, including the amount payable to the Adviser pursuant to Section 5 of the Investment Advisory Agreement, for any fiscal year ending on a date on which this Agreement is in effect, exceed 0.75% of average daily net assets, the Adviser shall reduce its fee payable with respect to the Fund by the extent of such excess, and/or shall reimburse the Fund (or class as applicable) by the amount of such excess; provided, however, there shall be excluded from such expenses the fees payable by a share class of the Fund pursuant to a Rule 12b-1 Plan; shareholder servicing fees, such as transfer agency fees (including out of pocket costs), administrative services fees and any networking/omnibus fees payable by any share class; the “Performance Adjustment” if the Fund has a performance-based investment advisory fee; as well as the amount of any items not normally considered operating expenses such as acquired fund fees and expenses, interest, dividends, taxes, brokerage commissions and extraordinary expenses (including, but not limited to, legal claims and liabilities and litigation costs, and any indemnification related thereto), paid or payable by the Fund. Operating expenses shall be calculated net of balance credits and similar offset arrangements (excluding any directed brokerage arrangements). Whenever the expenses allocated to any class of the Fund exceed a pro rata portion of the applicable annual expense limitations, the estimated amount of reimbursement under such limitations shall be offset against the monthly payment of the fee due to the Adviser and/or by the Adviser to the Fund (or applicable class). The waiver or reimbursement shall be allocated to each class of the Fund in the same manner as the underlying expenses or fees were allocated.
For any reimbursement paid by the Adviser to the Fund or any fee reduction by the Adviser pursuant to this letter, for a three year period commencing with operations of the Fund, the Adviser shall be permitted to recoup such reimbursement or fee reduction from the Fund, provided that at no time during the term of this letter shall the expenses allocated to the
|
|
Xxxxx Xxxxxxxxx Investors 000 Xxxxxxx Xx, Xxxxxx, XX 00000 T x0(000) 000 0000 F x0(000) 000 0000 W xxxxxxxxxxxxxx.xxx |
Fund, with the exceptions noted above, exceed 0.75% of average daily net assets, and as otherwise noted in this Agreement. This provision survives the term of this letter.
This waiver/reimbursement will continue in effect until January 31, 2024, unless otherwise terminated, revised or extended. This waiver/reimbursement is applicable only to the Fund and shall not be applicable to any other series of Janus Investment Fund, whether now existing or hereafter created.
| XXXXX XXXXXXXXX INVESTORS US LLC |
||||||||
| By: |
/s/ Xxxxxx Xxxxxxxx |
|
By: |
/s/ Xxxxxxx Xxxxxx | ||||
| Xxxxxx Xxxxxxxx Vice President and Head of US Fund Administration |
Xxxxxxx Xxxxxx Vice President, Secretary, and Chief Legal Officer | |||||||
2
