Expense Limitation Agreement
To: Multi-Strategy Growth & Income Fund
00 Xxxxx Xxxxx
Hauppauge, NY 11788
August 4, 2017
Dear Board Members:
You have engaged us to act as the sole investment adviser to Multi-Strategy Growth & Income Fund (the “Trust,” or the “Fund”), pursuant to an Investment Advisory Agreement dated as of August 4, 2017.
Effective from the date hereof until at least August 4, 2019, we agree to reduce our fees and/or absorb expenses of the Fund to ensure that total fund operating expenses after fee waiver and/or reimbursement (excluding any front-end or contingent deferred loads, brokerage fees and commissions, acquired fund fees and expenses, fees and expenses associated with instruments in other collective investment vehicles or derivative instruments (including, for example, options and swap fees and expenses), borrowing costs (such as interest and dividend expense on securities sold short), taxes and extraordinary expenses, such as litigation expenses (which may include indemnification of Fund officers and Trustees and contractual indemnification of Fund service providers (other than the adviser)) will not exceed 1.95% of Class A shares’ net assets, 2.45% of Class L shares’ net assets, 2.70% of Class C shares’ net assets, and 1.70% of Class I shares’ net assets.
Additionally, this Expense Limitation Agreement may not be terminated by LCM Investment Management, LLC but may be terminated by the Fund’s Board of Trustees, on 60 days written notice to LCM Investment Management, LLC.
Any waiver or reimbursement by us is subject to repayment by the Fund within three years from the date we waived any payment or reimbursed any expense, provided that the Fund is able to make the repayment without exceeding the expense limitation in place at the time of waiver or the current expense limitation and the repayment is approved by the Board of Trustees.
Yours very truly,
LCM INVESTMENT MANAGEMENT, LLC
By: /s/ Xxxxxx Xxxxx
Name: Xxxxxx Xxxxx
Title: President
Date: 08/04/2017
ACCEPTANCE:
The foregoing Agreement is hereby accepted.
MULTI-STRATEGY GROWTH & INCOME FUND
By: /s/ Xxxxxxx X. Xxxxx Xx.
Name: Xxxxxxx X. Xxxxx Xx.
Title: President
Date: 08/04/2017
