AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT

AMENDED AND RESTATED

 

EXPENSE LIMITATION AGREEMENT

 

THIS AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT, dated February 28, 2012, between The MainStay Funds, MainStay Funds Trust, Eclipse Funds, and Eclipse Funds Inc. (each a “Company” and collectively, the “Companies”), on behalf of each series of the Companies (each a “Fund” and collectively, “Funds”), and New York Life Investment Management LLC (the “Adviser”)(“Agreement”).

 

WHEREAS, the Adviser has been appointed the investment advisor of each of the Funds pursuant to an Investment Management Agreement between each Company, on behalf of the Funds, and the Adviser; and

 

WHEREAS, each Company and the Adviser desire to enter into the arrangements described herein relating to certain expenses of the Funds;

 

NOW, THEREFORE, each Company and the Adviser hereby agrees as follows:

 

1.The Adviser hereby agrees to waive fees and/or reimburse Fund expenses, excluding taxes, interest, litigation, extraordinary expenses, brokerage and other transaction expenses relating to the purchase or sale of portfolio investments, and acquired (underlying) fund fees and expenses), to the extent necessary to maintain Total Annual Operation Expenses specified for the class of shares of each Fund listed on Schedule A for the period commencing February 28, 2012 through February 28, 2013.

 

2.The waivers and/or reimbursements described in Section 1 above are not subject to recoupment by the Adviser.

 

3.The Adviser understand and intends that the Funds will rely on this Agreement (1) in preparing and filing amendments to the registration statements for the Companies on Form N-1A with the Securities and Exchange Commission, (2) in accruing each Fund’s expenses for purposes of calculating its net asset value per share and (3) for certain other purposes and expressly permits the Funds to do so.

 

4.This Agreement may only be amended or terminated prior to its termination date by action of the applicable Board of Trustees/Directors.

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

 

 

 
 

 

ECLIPSE FUNDS

 

By: /s/ Xxxx X. Xxxxxxxxxx

Name: Xxxx X. Xxxxxxxxxx

Title: Treasurer and Principal Financial and Accounting Officer

 

ECLIPSE FUNDS INC.

 

By:/s/ Xxxx X. Xxxxxxxxxx

Name: Xxxx X. Xxxxxxxxxx

Title: Treasurer and Principal Financial and Accounting Officer

 

 

THE MAINSTAY FUNDS

 

By:/s/ Xxxx X. Xxxxxxxxxx

Name: Xxxx X. Xxxxxxxxxx

Title: Treasurer and Principal Financial and Accounting Officer

 

 

MAINSTAY FUNDS TRUST

 

By: /s/ Xxxx X. Xxxxxxxxxx

Name: Xxxx X. Xxxxxxxxxx

Title: Treasurer and Principal Financial and Accounting Officer

 

 

NEW YORK LIFE INVESTMENT MANAGEMENT LLC

 

By: /s/ Xxxxxxx X. Xxxxxx

Name: Xxxxxxx X. Xxxxxx

Title: Senior Managing Director

 

 
 

  

SCHEDULE A

 

FUND Total Annual Operating Expense Limit (as a percent of average daily net asset)
Tax Free Bond Fund

Class A: 0.82%

Class B: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Class C: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Class I: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.

Investor Class: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.

U.S. Small Cap Fund

Class A: 1.53%

Class B: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Class C: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Class I: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Investor Class: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.

Epoch International Small Cap Fund Class A: 1.65%
Class C: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Class I: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Investor Class: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Large Cap Growth Fund

Class A: None

Class B: None

Class C: None

Class I: 0.88%
Investor Class: None

Class R1: None

Class R2: None

Class R3: None

Epoch U.S. All Cap Fund

Class A: None

Class B: None

Class C: None

Class I: None

Investor Class: None

Global High Income Fund

Class A: None

Class B: None

Class C: None

Class I: None

Investor Class: None

 
 

 

FUND Total Annual Operating Expense Limit (as a percent of average daily net asset)
MAP Fund

Class A: None

Class B: None

Class C: None

Class I: None

Investor Class: None

130/30 Core Fund Class A: 1.50%
Class C: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Class I: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.

130/30 International Fund Class A: 1.60%
Class C: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Class I: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Investor Class: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Balanced Fund

Class A: None
Class B: None Class

C: None

Class I: None

Investor Class: None

Cash Reserves Fund Class I: 0.50%
Sweep: 1.00%
Common Stock Fund

Class A: None

Class B: None

Class C: None

Class I: None

Investor Class: None

Conservative Allocation Fund Class A: 0.50%
Class B: 1.30%
Class C: 1.30%
Class I: 0.25%
Investor Class: 0.55%
Flexible Bond Opportunities Fund

Class A: None

Class B: None Class C: None Class I: None Investor Class: None

 
 

 

FUND Total Annual Operating Expense Limit (as a percent of average daily net asset)
Epoch Global Choice Fund Class A: 1.54%
Class C: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Class I: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Investor Class: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Epoch Global Equity Yield Fund Class A: None Class C: None Class I: None Investor Class: None
Epoch U.S. Equity Fund Class A: None Class C: None Class I: None
Investor Class: None
Equity Index Fund Class A: 0.60%
Government Fund Class A: 1.03%
Class B: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Class C: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Class I: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Investor Class: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Growth Allocation Fund Class A: 0.50%
Class B: 1.30%
Class C: 1.30%
Class I: 0.25%
Investor Class: 0.55%
High Yield Municipal Bond Fund

Class A: 0.85%

Class C: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Class I: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Investor Class: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.

High Yield Opportunities Fund

Class A: 1.30%
Class C: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Class I: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.

Investor Class: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.

 
 

 

FUND Total Annual Operating Expense Limit (as a percent of average daily net asset)
ICAP Equity Fund

Class A: None

Class C: None

Class I: 0.90%
Investor Class: None

Class R1: None

Class R2: None

ICAP Global Fund Class A: 1.15%
Class C: 1.95%
Class I: 0.90%
Investor Class: 1.20%
ICAP International Fund

Class A: None
Class C: None

Class I: 0.95%
Investor Class: None

Class R1: None

Class R2: None

ICAP Select Equity Fund

Class A: 1.18%
Class B: None

Class C: None

Class I: 0.90%
Investor Class: None

Indexed Bond Fund

Class A: 0.82%

Class I: 0.43%
Investor Class: 0.92%

Intermediate Term Bond Fund

Class A: None

Class B: None

Class C: None

Class I: 0.60%
Investor Class: None

International Equity Fund

Class A: None

Class B: None

Class C: None

Class I: None

Investor Class: None

Class R1: None

Class R2: None

Class R3: None

Moderate Allocation Fund Class A: 0.50%
Class B: 1.30%
Class C: 1.30%
Class I: 0.25%
Investor Class: 0.55%
 
 

 

FUND Total Annual Operating Expense Limit (as a percent of average daily net asset)
Moderate Growth Allocation Fund Class A: 0.50%
Class B: 1.30%
Class C: 1.30%
Class I: 0.25%
Investor Class: 0.55%
Money Market Fund Class A: 0.70%
Class B: 0.80%
Class C: 0.80%
Investor Class: 0.80%
Principal Preservation Fund Class I: 0.30%
Retirement 2010 Fund Class A: 0.375%
Class I: 0.125%
Investor Class: 0.475%
Class R1: 0.225%
Class R2: 0.475%
Class R3: 0.725%
Retirement 2020 Fund Class A: 0.375%
Class I: 0.125%
Investor Class: 0.475%
Class R1: 0.225%
Class R2: 0.475%
Class R3: 0.725%
Retirement 2030 Fund Class A: 0.375%
Class I: 0.125%
Investor Class: 0.475%
Class R1: 0.225%
Class R2: 0.475%
Class R3: 0.725%
Retirement 2040 Fund Class A: 0.375%
Class I: 0.125%
Investor Class: 0.475%
Class R1: 0.225%
Class R2: 0.475%
Class R3: 0.725%
Retirement 2050 Fund

Class A: 0.375%
Class I: 0.125%
Investor Class: 0.475%
Class R1: 0.225%
Class R2: None

Class R3: None

S&P 500 Index Fund Class A: 0.60%
Class I: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Investor Class: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
 
 

 

FUND Total Annual Operating Expense Limit (as a percent of average daily net asset)
Short Term Bond Fund Class A: 0.93%
Class I: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Investor Class: The Adviser will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.
Convertible Fund

Class A: None

Class B: None

Class C: None

Class I: None

Investor Class: None

Floating Rate Fund

Class A: None

Class B: None

Class C: None

Class I: None

Investor Class: None

Growth Equity Fund

Class A: None

Class B: None

Class C: None

Class I: None

Investor Class: None

High Yield Corporate Bond Fund

Class A: None

Class B: None

Class C: None

Class I: None

Investor Class: None

R2: None

Income Builder Fund

Class A: None

Class B: None

Class C: None

Class I: None

Investor Class: None

 

 

 

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Filed: February 28th, 2013
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