John Hancock Invesment Mangement LLC 200 Berkeley Street Boston, MA 02116
EX 99(h)(5)
| Xxxx Xxxxxxx Invesment Mangement LLC 000 Xxxxxxxx Xxxxxx Xxxxxx, XX 00000 |
|
September 22, 2022
To the Trustees of
Xxxx Xxxxxxx Funds
000 Xxxxxxxx Xxxxxx
Boston, MA 02116
| Re: |
With reference to the Advisory Agreement approved by the Board or entered into by and between Xxxx Xxxxxxx Investment Management LLC (formerly, Xxxx Xxxxxxx Advisers, LLC) (the “Adviser”) and Xxxx Xxxxxxx Strategic Series (the “Trust”), on behalf of each of its respective series listed in Appendix A (each, a “Fund” and collectively, the “Funds”), we hereby notify you as follows:
1. The Adviser agrees to contractually waive or, to the extent necessary, reimburse its advisory fees and other expenses of each Fund (“Expenses”). “Expenses” means all the expenses of a Fund but excluding: (i) taxes; (ii) brokerage commissions; (iii) interest expense; (iv) litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the Fund’s business; (v) borrowing costs; and (vi) acquired fund fees and expenses paid indirectly. These contractual waivers expire on September 30, 2023 (for the Xxxx Xxxxxxx Managed Account Shares Investment-Grade Corporate Bond Portfolio, Xxxx Xxxxxxx Managed Account Shares Securitized Debt Portfolio, and Xxxx Xxxxxxx Managed Account Shares Non-Investment-Grade Corporate Bond Portfolio) and September 30, 2025 (for the Xxxx Xxxxxxx Managed Account Shares Non-Investment-Grade Municipal Bond Portfolio), unless renewed by mutual agreement of the fund and the advisor based upon a determination that this is appropriate under the circumstances at that time.
2. We understand and intend that the Trust will rely on this undertaking in overseeing the preparation and filing of Post-effective Amendments to the Registration Statement on Form N-1A for the Funds with the Securities and Exchange Commission, in accruing each Fund’s expenses for purposes of calculating its net and gross asset value per share, and for other purposes permitted under Form N-1A and/or the Investment Company Act of 1940, as amended, and we expressly permit the Trust so to rely.
3. A copy of the document establishing each Trust is filed with the Secretary of The Commonwealth of Massachusetts. This Agreement is executed by the officer in his or her capacity as such and not as an individual and is not binding upon any of the Trustees, officers or shareholders of the Trusts individually but only upon the assets of the Funds.
| Very truly yours, | ||
| XXXX XXXXXXX INVESTMENT MANAGEMENT LLC | ||
| By: | /s/ Xxxxxxx X. Xxxx | |
| Xxxxxxx X. Xxxx | ||
| Chief Financial Officer | ||
| Agreed and Accepted on behalf of each applicable Trust listed in Appendix A | ||
| By: | /s/ Xxxxxxx X. Xxxxx | |
| Xxxxxxx X. Xxxxx | ||
| Chief Financial Officer | ||
APPENDIX A
XXXX XXXXXXX STRATEGIC SERIES
| Fund | Expiration Date of Expense Waiver | |
| Xxxx Xxxxxxx Managed Account Shares Investment-Grade Corporate Bond Portfolio | 9/30/20231 | |
| Xxxx Xxxxxxx Managed Account Shares Securitized Debt Portfolio | 9/30/20231 | |
| Xxxx Xxxxxxx Managed Account Shares Non-Investment-Grade Corporate Bond Portfolio | 9/30/20231 | |
| Xxxx Xxxxxxx Managed Account Shares Non-Investment-Grade Municipal Bond Portfolio | 9/30/20252 |
1 This Agreement expires on September 30, 2023, unless renewed by mutual agreement of the fund and the advisor based upon a determination that this is appropriate under the circumstances at that time.
2 At the September 20-22, 2022 meeting of the Board of Trustees of the Trust, the Adviser notified the Board of, and the Board approved, the establishment of the contractual waiver on fund expenses for the Xxxx Xxxxxxx Managed Account Shares Non-Investment Grade Municipal Bond Portfolio (0.00%), with an expiration date of September 30, 2025, effective as of the commencement of operations of Xxxx Xxxxxxx Managed Account Shares Non-Investment-Grade Municipal Bond Portfolio.
