EX 99.h.1
EXPENSE LIMITATION AGREEMENT
This EXPENSE LIMITATION AGREEMENT is made as of the 31st day of
OCTOBER, 1999 by and between BT INVESTMENT FUNDS, a Massachusetts Business trust
(the "Trust"), INTERNATIONAL EQUITY PORTFOLIO and BT INVESTMENT PORTFOLIOS, each
a New York trust (each a "Portfolio Trust"), and BANKERS TRUST COMPANY, a New
York corporation (the "Adviser"), with respect to the following:
WHEREAS, the Adviser serves as International Equity Portfolio's and BT
Investment Portfolios' Investment Adviser pursuant to Investment Advisory
Agreements dated June 4, 1999, and the Adviser serves as the Trust's,
International Equity Portfolio's and BT Investment Portfolios' Administrator
pursuant to Administration and Services Agreements dated October 28, 1992, April
8, 1992 and April 28, 1993, respectively (collectively, the "Agreements").
NOW, in consideration of the mutual covenants herein contained and
other good and valuable consideration, the receipt whereof is hereby
acknowledged, the parties hereto agree as follows:
1. The Adviser agrees to waive its fees and reimburse expenses
for the period from October 31, 1999 to March 1, 2001 to the
extent necessary so that the total annual operating expenses
for each of the Trust's series with fiscal year ends of
October 31 (each a "Fund") do not exceed the percentage of
average daily net assets set forth on Exhibit A.
2. Upon the termination of any of the Agreements, this Agreement
shall automatically terminate.
3. Any question of interpretation of any term or provision of
this Agreement having a counterpart in or otherwise derived
from a term or provision of the Investment Company Act of
1940, as amended (the "1940 Act") shall be resolved by
reference to such term or provision of the 1940 Act and to
interpretations thereof, if any, by the United States Courts
or in the absence of any controlling decision of any such
court, by rules, regulations or orders of the Securities and
Exchange Commission ("SEC") issued pursuant to said Act. In
addition, where the effect of a requirement of the 1940 Act
reflected in any provision of this Agreement is revised by
rule, regulation or order of the SEC, such provision shall be
deemed to incorporate the effect of such rule, regulation or
order. Otherwise the provisions of this Agreement shall be
interpreted in accordance with the laws of Massachusetts.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed in duplicate by their respective officers as of the day and year first
above written.
BT INVESTMENT FUNDS
Attest: /s/Xxx X. Xxxxxx By: /s/Xxxxxx X. Xxxxxx
-------------------------- -----------------------------
Name: Xxx X. Xxxxxx Name: Xxxxxx X. Xxxxxx
Title: Secretary
INTERNATIONAL EQUITY PORTFOLIO
Attest: /s/Xxx X. Xxxxxx By: /s/Xxxxxx X. Xxxxxx
-------------------------- -----------------------------
Name: Xxx X. Xxxxxx Name: Xxxxxx X. Xxxxxx
Title: Secretary
BT INVESTMENT PORTFOLIOS
Attest: /s/Xxx X. Xxxxxx By: /s/Xxxxxx X. Xxxxxx
-------------------------- -----------------------------
Name: Xxx X. Xxxxxx Name: Xxxxxx X. Xxxxxx
Title: Secretary
BANKERS TRUST COMPANY
Attest: /s/Xxx X. Xxxxxx By: /s/Xxxx Xxxxxxxx
-------------------------- -----------------------------
Name: Xxx X. Xxxxxx Name: Xxxx Xxxxxxxx
Title: Managing Director
Exhibit A
Total Fund Operating Expenses
Fund (as a percentage of average daily net assets)
---- ---------------------------------------------
International Equity Fund 1.50%
Latin American Equity Fund 1.90%
Pacific Basin Equity Fund 1.75%
