EXPENSE LIMITATION AGREEMENT
THIS EXPENSE LIMITATION AGREEMENT is made as of the 29th day of September,
2000, by and between BT INVESTMENT FUNDS, a Massachusetts Business trust (the
"Trust"), and BANKERS TRUST COMPANY, a New York corporation (the
"Administrator") with respect to the following:
WHEREAS, the Administrator serves as the Trust's Administrator pursuant to
an Administration and Services Agreement dated October 28, 1992 (the
"Agreement"); and
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 Administrator agrees to waive its fees and reimburse expenses for
the period from September 29, 2000 to December 31, 2001 to the extent
necessary so that each Fund's total annual operating expenses do not
exceed the percentage of average daily net assets set forth on Exhibit
A.
2. Upon the termination of the Administration Agreement, 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 (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 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
BANKERS TRUST COMPANY
Attest: /s/ Xxx X. Xxxxxx By: /s/ Xxxx X. Xxxxxxxx
Name: Xxx X. Xxxxxx Name: Xxxx X. Xxxxxxxx
Title: Managing Director
Exhibit A
Total Fund Operating Expenses
Fund (as a percentage of average daily net assets)
---- ---------------------------------------------
Communications - Investment Class 1.25%
Communications - Institutional Class 1.00%
