EXPENSE LIMITATION AGREEMENT
Exhibit H(5)
This EXPENSE LIMITATION AGREEMENT (the “Agreement”) is between Massachusetts Mutual Life Insurance Company, a Massachusetts corporation (the “Manager”), and MassMutual Select Funds, a Massachusetts business trust (the “Trust”), effective as of the 1st day of April, 2008.
WHEREAS, the Trust is an open-end diversified management investment company registered as such with the Securities and Exchange Commission pursuant to the Investment Company Act of 1940, as amended;
WHEREAS, MassMutual Select Core Opportunities Fund, MassMutual Select Mid-Cap Value Fund, MassMutual Select Small Cap Value Equity Fund, MassMutual Select Small Cap Core Equity Fund, MassMutual Select Diversified International Fund, MassMutual Select Indexed Equity Fund and MassMutual Select Overseas Fund (the “Funds”) are each a series of the Trust;
WHEREAS, the Manager is an investment adviser registered with the Commission as such under the Investment Advisers Act of 1940, as amended; and
WHEREAS, the Trust has appointed the Manager as its investment manager for the Funds and the Manager has agreed to act in such capacity upon the terms set forth in the relevant Investment Management Agreements;
NOW THEREFORE, the Trust and the Manager hereby agree as follows:
1. | Expense Limitation |
The Manager agrees to: (i) waive administrative and shareholder service fees, or (ii) cap the fees and expenses of each Fund (other than extraordinary litigation and legal expenses, or other non-recurring or unusual expenses), excluding Acquired Fund fees and expenses, at the following amounts through March 31, 2009. This agreement cannot be terminated unilaterally by the Manager.
MassMutual Select Core Opportunities Fund | |||
Expense Cap | |||
Class S shares |
.90 | % | |
Class Y shares |
.95 | % | |
Class L shares |
1.10 | % | |
Class A shares |
1.35 | % | |
Class N shares |
1.65 | % | |
MassMutual Select Mid-Cap Value Fund |
|||
Expense Cap | |||
Class S shares |
0.88 | % | |
Class Y shares |
0.98 | % | |
Class L shares |
1.13 | % | |
Class A shares |
1.38 | % | |
Class N shares |
1.68 | % |
MassMutual Select Small Cap Value Equity Fund | |||
Expense Cap | |||
Class S shares |
.95 | % | |
Class Y shares |
1.00 | % | |
Class L shares |
1.15 | % | |
Class A shares |
1.40 | % | |
Class N shares |
1.70 | % | |
MassMutual Select Small Cap Core Equity Fund | |||
Expense Cap | |||
Class S shares |
.95 | % | |
Class Y shares |
1.00 | % | |
Class L shares |
1.15 | % | |
Class A shares |
1.40 | % | |
Class N shares |
1.70 | % | |
MassMutual Select Diversified International Fund | |||
Expense Cap | |||
Class S shares |
0.99 | % | |
Class Y shares |
1.09 | % | |
Class L shares |
1.17 | % | |
Class A shares |
1.42 | % | |
Class N shares |
1.72 | % | |
MassMutual Select Indexed Equity Fund | |||
Waiver | |||
Class N shares |
.20 | % | |
Class A shares |
.20 | % | |
Class L shares |
.20 | % | |
MassMutual Select Overseas Fund | |||
Waiver | |||
Class N shares |
.10 | % | |
Class A shares |
.10 | % | |
Class L shares |
.10 | % |
IN WITNESS WHEREOF, the Trust and the Manager have caused this Agreement to be executed on the 31st day of March, 2008.
MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY | ||
By: | /s/ Xxxx Xxxxxxx | |
Xxxx Xxxxxxx, Corporate Vice President | ||
on behalf of each of the Funds | ||
By: | /s/ Xxxxxxxx X. Xxxxxxxxx | |
Xxxxxxxx X. Xxxxxxxxx, CFO and Treasurer |