FEE WAIVER AGREEMENT
Exhibit h.5
This Agreement is effective as of January 25, 2011, between Equinox Fund Management, LLC (the “Adviser”) and Equinox Funds Trust (the “Trust”), on behalf of each of the series of the Trust set forth on Schedule A to this Agreement (each a “Fund,” and collectively, the “Funds”).
WHEREAS, the Adviser and the Trust, on behalf of each Fund, have entered into an investment advisory agreement pursuant to which the Adviser provides investment advisory services to each Fund for compensation based on the value of the average daily net assets of each Fund; and
WHEREAS, the Adviser has also entered into, or intends to enter into, separate investment advisory agreements on behalf of each Fund, with a wholly-owned subsidiary of each Fund organized under the laws of the Cayman Islands (each a “Subsidiary”), pursuant to which the Adviser provides investment advisory services to a Fund’s respective Subsidiary for compensation based on the value of the average daily net assets of such Subsidiary; and
WHEREAS, each Fund intends to invest a portion of its assets in its respective Subsidiary; and
WHEREAS, it is the intention of the parties that the Adviser collect investment advisory fees on the assets at the Fund level or assets at the Subsidiary level, but not both;
NOW, THEREFORE, the parties agree as follows:
Fee Waiver. To the extent a Fund invests assets in its respective Subsidiary, the Adviser will waive such Fund’s investment advisory fee in an amount equal to the investment advisory fee paid to the Adviser by such Fund’s Subsidiary pursuant to the investment advisory agreement between such Subsidiary and the Adviser.
Term. This agreement may not be discontinued by the Adviser with respect to a Fund as long as the investment advisory agreement between such Fund’s Subsidiary and the Adviser is in place.
Effective as of the date first set forth above.
| EQUINOX FUND MANAGEMENT, LLC | ||
| By: | /s/ Xxxxxx X. Xxxx | |
| Name: | Xxxxxx X. Xxxx | |
| Title: | President & CEO | |
| EQUINOX FUNDS TRUST On behalf of each Fund | ||
| By: | /s/ Xxxxxx X. Xxxx | |
| Name: | Xxxxxx X. Xxxx | |
| Title: | President | |
Schedule A
to the
Effective as of January 25, 2011
Between
Equinox Funds Trust and Equinox Fund Management, LLC
| Fund |
Effective Date | |
| Equinox Xxxxxxx Strategy Fund |
April 19, 2012 | |
| Equinox Chesapeake Strategy Fund |
April 19, 2012 | |
| Equinox Crabel Strategy Fund |
April 19, 2012 | |
| Equinox Eclipse Strategy Fund |
January 25, 2012 | |
| Equinox Xxxx Xxxxx Strategy Fund |
January 25, 2012 | |
| Equinox QCM Strategy Fund |
January 25, 2012 | |
| Equinox QIM/ WNTN Strategy Fund |
Commencement of Operations | |
| Equinox Tiverton Strategy Fund |
April 19, 2012 | |
| Equinox Absolute Return Plus Strategy Fund |
April 19, 2012 | |
| Equinox Commodity Strategy Fund |
January 25, 2011 | |
| Equinox Xxxxxxxx Strategy Fund |
Commencement of Operations |
This Schedule A to the Fee Waiver Agreement is effective with respect to each Fund as of the dates set forth above.
| EQUINOX FUND MANAGEMENT, LLC | ||
| By: | /s/ Xxxxxx X. Xxxx | |
| Name: | Xxxxxx X. Xxxx | |
| Title: | President & CEO | |
| EQUINOX FUNDS TRUST On behalf of each Fund | ||
| By: | /s/ Xxxxxx X. Xxxx | |
| Name: | Xxxxxx X. Xxxx | |
| Title: | President | |
