EXPENSE LIMITATION AGREEMENT
EXPENSE LIMITATION AGREEMENT made as of the 1st day of August 2014 by and between RidgeWorth Funds (the “Trust”), a Massachusetts business trust, RidgeWorth Capital Management LLC (the “Adviser”) and each investment subadviser listed on Schedule B (“Sub-Adviser”) with respect to the series of the Trust (the “Funds”) set forth on Schedule A.
The Adviser and each Sub-Adviser hereby agree to waive their fees, in the proportion set forth in the applicable subadvisory agreement relating to each Fund, and reimburse expenses to the extent necessary to limit total operating expenses, based on a percentage of the average daily net assets of each Fund (excluding interest, taxes, brokerage commissions, substitute dividend expenses on securities sold short, extraordinary expenses, estimated indirect expenses attributable to investments in other investment companies, and other expenses not incurred in the ordinary course of business) for each share class of the Funds as set forth on Schedule A until August 1, 2015.
If at any point before August 1, 2017, it becomes unnecessary for the Adviser or Sub-Adviser to waive fees and make reimbursements for a particular Fund, the Adviser and the Sub-Adviser may retain the difference between the Total Annual Fund Operating Expenses of that Fund and the applicable expense cap set forth on Schedule A to recapture any of its prior waivers or reimbursements.
This Agreement shall terminate with respect to a Fund, without payment of any penalty, upon: (1) termination of the applicable Investment Advisory Agreement with the Adviser or (2) written notice to the Adviser by the Trust.
IN WITNESS WHEREOF, the parties hereto have caused this Expense Limitation Agreement to be executed as of the day and year first written above.
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RIDGEWORTH CAPITAL MANAGEMENT LLC
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| By: | /s/ Xxxxx X. Short |
By: | /s/ Xxxx Xxxxxxxx | |||||
| Name: | Xxxxx X. Short | Name: | Xxxx Xxxxxxxx | |||||
| Title: | President and CEO | Title: | Managing Director and CFO | |||||
Pursuant to each of the Funds listed in Schedule B for which they are the respective Subadviser:
| CERTIUM ASSET MANAGEMENT LLC
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| By: | /s/ Ashi Xxxxxx Ashi Xxxxxx CEO | |||
| Name: | ||||
| Title: | ||||
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CEREDEX VALUE ADVISORS LLC
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| By: | /s/ Ashi Xxxxxx Ashi Xxxxxx CEO | |||
| Name: | ||||
| Title: | ||||
| SEIX INVESTMENT ADVISORS LLC
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| By: | /s/ Xxx Xxxxxx | |||
| Name: | Xxx Xxxxxx | |||
| Title: | CIO and CEO | |||
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SILVANT CAPITAL MANAGEMENT LLC
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| By: | /s/ Ashi Xxxxxx | |||
| Name: | Ashi Xxxxxx CEO | |||
| Title: | ||||
| XXXXXXXXXXX CAPITAL INVESTMENTS LLC
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| By: | /s/ Xxxxxx Xxxxx Xxxxxx Xxxxx Managing Director | |||
| Name: | ||||
| Title: | ||||
SCHEDULE A
| FUND NAME | SHARE CLASS | EXPENSE LIMITATION | ||
| Allocation Strategies |
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| Aggressive Growth Allocation Strategy |
I | 0.50% | ||
| Aggressive Growth Allocation Strategy |
A | 0.70% | ||
| Aggressive Growth Allocation Strategy |
C | 1.30% | ||
| Conservative Allocation Strategy |
I | 0.30% | ||
| Conservative Allocation Strategy |
A | 0.60% | ||
| Conservative Allocation Strategy |
C | 1.30% | ||
| Growth Allocation Strategy |
I | 0.50% | ||
| Growth Allocation Strategy |
A | 0.70% | ||
| Growth Allocation Strategy |
C | 1.30% | ||
| Moderate Allocation Strategy |
I | 0.50% | ||
| Moderate Allocation Strategy |
A | 0.70% | ||
| Moderate Allocation Strategy |
C | 1.30% | ||
| Equity Funds |
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| Large Cap Value Equity |
IS | 0.85% | ||
| Large Cap Value Equity |
I | 0.97% | ||
| Large Cap Value Equity |
A | 1.27% | ||
| Large Cap Value Equity |
C | 1.97% | ||
| Mid-Cap Value Equity |
IS | 0.95% | ||
| Mid-Cap Value Equity |
I | 1.15% | ||
| Mid-Cap Value Equity |
A | 1.40% | ||
| Mid-Cap Value Equity |
C | 2.00% | ||
| Small Cap Value Equity |
I | 1.30% | ||
| Small Cap Value Equity |
A | 1.55% | ||
| Small Cap Value Equity |
C | 2.15% | ||
| International Equity |
I | 1.37% | ||
| International Equity |
A | 1.57% | ||
| International Equity Index |
I | 0.68% | ||
| International Equity Index |
A | 1.02% | ||
| Large Cap Growth Stock |
IS | 0.85% | ||
| Large Cap Growth Stock |
I | 0.97% | ||
| Large Cap Growth Stock |
A | 1.25% | ||
| Large Cap Growth Stock |
C | 1.95% | ||
| Select Large Cap Growth Stock |
I | 1.10% | ||
| Select Large Cap Growth Stock |
A | 1.35% | ||
| Select Large Cap Growth Stock |
C | 2.05% | ||
| Small Cap Growth Stock |
IS | 1.05% | ||
| Small Cap Growth Stock |
I | 1.30% | ||
| Small Cap Growth Stock |
A | 1.55% | ||
| Small Cap Growth Stock |
C | 2.20% | ||
| FUND NAME | SHARE CLASS | EXPENSE LIMITATION | ||
| Aggressive Growth Stock |
I | 1.30% | ||
| Aggressive Growth Stock |
A | 1.50% | ||
| Fixed Income Funds | ||||
| Core Bond1 |
I | 0.50% | ||
| Core Bond1 |
A | 0.75% | ||
| Core Bond1 |
R | 1.05% | ||
| Corporate Bond |
I | 0.70% | ||
| Corporate Bond |
A | 0.95% | ||
| Corporate Bond |
C | 1.65% | ||
| Intermediate Bond |
I | 0.50% | ||
| Intermediate Bond |
A | 0.75% | ||
| Intermediate Bond |
R | 1.05% | ||
| Limited Duration |
I | 0.35% | ||
| Limited-Term Federal Mortgage Securities |
I | 0.70% | ||
| Limited-Term Federal Mortgage Securities |
A | 0.90% | ||
| Limited-Term Federal Mortgage Securities |
C | 1.65% | ||
| Total Return Bond |
IS | 0.40% | ||
| Total Return Bond |
I | 0.50% | ||
| Total Return Bond |
A | 0.75% | ||
| Total Return Bond |
R | 1.05% | ||
| U.S. Government Securities |
I | 0.75% | ||
| U.S. Government Securities |
A | 0.95% | ||
| U.S. Government Securities |
C | 1.70% | ||
| High Income |
IS | 0.70% | ||
| High Income |
I | 0.80% | ||
| High Income |
A | 1.05% | ||
| High Income |
R | 1.50% | ||
| Seix Floating Rate High Income |
I | 0.70% | ||
| Seix Floating Rate High Income |
A | 1.00% | ||
| Seix Floating Rate High Income |
C | 1.60% | ||
| Seix High Yield |
I | 0.65% | ||
| Seix High Yield |
A | 0.90% | ||
| Seix High Yield |
C | 1.30% | ||
| Georgia Tax-Exempt Bond |
I | 0.65% | ||
| Georgia Tax-Exempt Bond |
A | 0.80% | ||
| High Grade Municipal Bond |
I | 0.65% | ||
| High Grade Municipal Bond |
A | 0.80% | ||
| Investment Grade Tax-Exempt Bond |
I | 0.65% | ||
| Investment Grade Tax-Exempt Bond |
A | 0.80% | ||
| Short-Term Municipal Bond2 |
I | 0.55% | ||
| Short-Term Municipal Bond2 |
A | 0.70% | ||
| FUND NAME | SHARE CLASS | EXPENSE LIMITATION | ||
| North Carolina Tax-Exempt Bond |
I | 0.65% | ||
| North Carolina Tax-Exempt Bond |
A | 0.80% | ||
| Virginia Intermediate Municipal Bond |
I | 0.65% | ||
| Virginia Intermediate Municipal Bond |
A | 0.80% | ||
| Short-Term Bond |
I | 0.60% | ||
| Short-Term Bond |
A | 0.80% | ||
| Short-Term Bond |
R | 1.60% | ||
| Ultra-Short Bond |
I | 0.46% | ||
| U.S. Government Securities Ultra-Short Bond |
I | 0.46% | ||
| 1 | Formerly known as “Investment Grade Bond Fund” |
| 2 | Formerly known as “Maryland Municipal Bond Fund” |
SCHEDULE B
FUND NAME ADVISER/SUBADVISER
| Allocation Strategies |
ADVISER | |
| Aggressive Growth Allocation Strategy Conservative Allocation Strategy Growth Allocation Strategy Moderate Allocation Strategy |
RidgeWorth Capital Management LLC RidgeWorth Capital Management LLC RidgeWorth Capital Management LLC RidgeWorth Capital Management LLC | |
| Equity Funds |
SUBADVISER | |
| Large Cap Value Equity Fund Mid-Cap Value Equity Fund Small Cap Value Equity Fund Large Cap Growth Stock Fund Select Large Cap Growth Stock Fund Small Cap Growth Stock Fund Aggressive Growth Stock Fund International Equity Index Fund International Equity Fund |
Ceredex Value Advisors LLC Ceredex Value Advisors LLC Ceredex Value Advisors LLC Silvant Capital Management LLC Silvant Capital Management LLC Silvant Capital Management LLC Xxxxxxxxxxx Capital Investments LLC Certium Asset Management LLC Certium Asset Management LLC | |
| Fixed Income Funds |
SUBADVISER | |
| Core Bond Fund Corporate Bond Fund High Income Fund Intermediate Bond Fund Limited Duration Fund Limited-Term Federal Mortgage Securities Fund Seix Floating Rate High Income Fund Seix High Yield Fund Total Return Bond Fund U.S. Government Securities Fund Georgia Tax-Exempt Bond Fund High Grade Municipal Bond Fund Investment Grade Tax-Exempt Bond Fund North Carolina Tax-Exempt Bond Fund Short-Term Bond Fund Short-Term Municipal Bond Fund Ultra-Short Bond Fund U.S. Government Securities Ultra-Short Bond Fund Virginia Intermediate Municipal Bond Fund |
Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC Seix Investment Advisors LLC |
