NEW COVENANT FUNDS EXPENSE LIMITATION AGREEMENT
Exhibit 99.H.VII
THIS AGREEMENT, dated as of June 30, 2007, is made and entered into by and
between the New Covenant Funds, a Delaware statutory trust (the “Trust”), on behalf of each of its
investment series set forth on Schedule A attached hereto (the “Funds”), and the NCF Investment
Department of New Covenant Trust Company,
N.A. (the “Adviser”).
WHEREAS, the Adviser serves as investment adviser to the Funds pursuant to
the terms of an Amended and Restated Investment Advisory Agreement entered into
between the Adviser and the Trust on behalf of the Funds (the “Advisory
Agreement”); and
WHEREAS, the Trust has been authorized to enter into Shareholder Services
Agreements pursuant to which each Fund may pay shareholder services fees to
various types of authorized service providers for providing administrative
services with respect to shares of the Funds attributable to or held in the name
of each authorized service provider for its clients or other parties with whom
it has a servicing relationship; and
WHEREAS, in connection with the implementation of the Shareholder Services
Agreements, the Adviser wishes to reimburse each Fund to the extent of the
amount of shareholder services fees paid by each Fund in order to limit the
total operating expenses of the Fund.
NOW, THEREFORE, the Trust, on behalf of the Funds, and the Adviser, hereby
agree as follows:
Until June 30, 2008, the Adviser agrees to reimburse each Fund to the extent of any fees paid
by the Fund pursuant to any Shareholder Services Agreements entered into by
the Trust on behalf of the Fund.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the date first above written.
| NEW COVENANT FUNDS | THE NCF INVESTMENT DEPARTMENT OF NEW COVENANT TRUST COMPANY, N.A. | |||||||||
By:
|
/s/ Xxxxx Xxxxxxx
|
By: | /s/ Xxxxxx X. Xxx III
|
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| Name: Xxxxx Xxxxxxx | Name: Xxxxxx X. Xxx III | |||||||||
| Title: Vice President | Title: Senior Vice President and Chief Investment Officer | |||||||||
SCHEDULE A
Fund Name
New Covenant Growth Fund
New Covenant Income Fund
