Exhibit (d)(v)
April 30, 2004
Xxxxxxx X. Xxxx,
President and Chief Executive Officer,
Schwab Capital Trust and Schwab Investments
000 Xxxxxxxxxx Xxxxxx
Xxx Xxxxxxxxx, XX 00000
Re: Schwab Annuity Portfolios
Dear Xx. Xxxx:
This letter will confirm our agreement to limit net operating expenses of the
following portfolios, as noted in the table below and described in the funds'
registration statements filed with the Securities and Exchange Commission.
PORTFOLIO NET OPERATING GUARANTEED
EXPENSE LIMIT LIMIT
SCHWAB MONEY MARKET
PORTFOLIO 50 bp expires 4/30/2005
SCHWAB MARKETTRACK
GROWTH PORTFOLIO II 50 bp expires 4/30/2005
SCHWAB S&P 500
PORTFOLIO 28 bp expires 4/30/2005
Sincerely,
/s/ Xxxxxxx X. Xxxx /s/ Xxxxxx Xxxxxxxx
------------------- -------------------
Xxxxxxx X. Xxxx, Xxxxxx Xxxxxxxx,
Senior Vice President and Chief Senior Vice President, AMPS Development
Investment Xxxxxxx, Xxxxxxx Xxxxxx and Distribution Xxxxxxx Xxxxxx & Co.,
Investment Management, Inc. Inc.
CC: Xxxxxxx Xxxxxxx-Xxxxxx
Xxxxxxxxxxx Xxxx
Xxxxxx Xxxxxxxxx
Tai-Xxxx Xxxx
Xxxxxx Xxxxx
