Exhibit (6)(b)
Form of
Expense Limitation Agreement
Expense Limitation Agreement made as of [ ], 2009 between Pioneer
Investment Management, Inc. ("PIM") and the investment companies (and series
thereof) listed on Annex A (each a "Fund").
Whereas PIM wishes to reduce the expenses of certain classes of each Fund
for a prescribed period after the consummation of the reorganization of a
Regions Xxxxxx Xxxxxx Select Fund into such Fund (each a "Reorganization"); and
Whereas each Fund wishes to have PIM enter into such an agreement.
Now therefore the parties agree as follows:
Section 1. PIM agrees to limit each Fund's ordinary operating expenses
(other than extraordinary expenses, such as litigation, taxes, brokerage
commissions, etc.) attributable to the Class A shares and Class Y shares (the
"Expense Limitation") to the percentage listed on Annex A of the Fund's average
daily net assets attributable to such class, until the second or third
anniversary date of the Reorganization relating to the Fund as specified by
Annex A. Such limitation shall be made by waiving or reimbursing transfer
agency fees and/or reimbursing expenses attributable to Class A shares or Class
Y shares. In the event that the waiver of transfer agency fees and expenses is
not sufficient, PIM shall waive other fees and/or reimburse the Fund for the
Fund's other ordinary operating expenses (other than extraordinary expenses,
such as litigation, taxes, brokerage commissions, etc.) so that the Expense
Limitation is satisfied with respect to Class A shares or Class Y shares, as
the case may be. PIM's obligations under this Section 1 with respect to each
Fund and class thereof are contingent on the consummation of the Reorganization
with respect to that Fund and class.
Section 2. PIM may not terminate or modify the duration or amount of this
Expense Limitation Agreement. PIM may otherwise modify this Agreement with the
approval of the Board of Trustees of each Fund.
Section 3. This Agreement automatically terminates without obligation by
the Fund upon termination of the Management Agreement between PIM and the Fund.
Section 4. This Agreement shall be governed by the laws of the State of
Delaware.
In witness whereof, the parties hereto have caused this Agreement to be
signed as of the [ ] day of [ ], 2009.
Each Fund listed on Annex A PIONEER INVESTMENT MANAGEMENT, INC.
By:--------------------------------- By:---------------------------------
Xxxxxx X. Xxxxxxxxx Xxxxx X. Xxxxxxx
Executive Vice President Chief Financial Officer
Annex A
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Class A Class Y
Fund Shares Shares Duration*
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Pioneer Fund 1.47% 1.22% 3 Years
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Pioneer Growth Fund (a series of Pioneer Series 1.25% 1.00% 3 Years
Trust I)
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Pioneer Cullen Value Fund (a series of Pioneer Series 1.26% 1.01% 3 Years
Trust III)
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Pioneer Mid Cap Value Fund 1.43% 1.18% 3 Years
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Pioneer Classic Balanced Fund (a series of Pioneer 1.33% 1.08% 3 Years
Series Trust IV)
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Pioneer Mid Cap Growth Fund II (a series of Pioneer 1.25% 1.00% 3 Years
Series Trust I)
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Pioneer Bond Fund 1.01% 0.76% 3 Years
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Pioneer Short Term Income Fund 1.04% 0.79% 3 Years
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Pioneer Intermediate Tax Free Income Fund (a series 0.93% 0.68% 3 Years
of Pioneer Series Trust I)
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Pioneer Cash Reserves Fund (a series of Pioneer 0.70% 0.45% 2 Years
Money Market Trust)
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Pioneer Treasury Reserves Fund (a series of Pioneer 0.65% N/A 2 Years
Series Trust IV)
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* From the closing date of the Reorganization into the Fund of a corresponding
Regions Xxxxxx Xxxxxx Select Fund.
