Exhibit (h)(4)(ii)
AMENDMENT NO. 1
AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT
AMENDMENT NO. 1 to the Amended and Restated Expense Limitation Agreement,
dated as of August 1, 2003, between The Equitable Life Assurance Society of the
United States ("Equitable" or the "Manager") and AXA Premier VIP Trust
("Trust").
The Manager and Trust hereby agree to modify and amend the Amended and
Restated Expense Limitation Agreement (the "Expense Limitation Agreement"),
dated as of June 1, 2002 between them as follows:
1. New Portfolios. The Manager and the Trust have determined to add the AXA
Conservative Allocation Portfolio, AXA Conservative-Plus Allocation
Portfolio, AXA Moderate Allocation Portfolio, AXA Moderate-Plus Allocation
Portfolio and AXA Aggressive Allocation Portfolio ("New Portfolios") to the
Agreement on the terms and conditions contained in the Agreement, and at
the level of the expense limitation applicable to the New Portfolios as set
forth in the attached schedule.
2. Paragraph 2.1 of the Agreement:
Reimbursement. If in any year in which the Management Agreement is
still in effect, the estimated aggregate Fund Operating Expenses of such
Fund for the fiscal year are less than the Maximum Annual Operating Expense
Limit for that year, the Manager shall be entitled to reimbursement by such
Fund, in whole or in part as provided below, of the investment management
fees waived or reduced and other payments remitted by the Manager to such
Fund pursuant to Section 1 hereof. The total amount of reimbursement to
which the Manager may be entitled ("Reimbursement Amount") shall equal, at
any time, the sum of all investment management fees previously waived or
reduced by the Manager and all other payments remitted by the Manager to
the Fund, pursuant to Section 1 hereof, during any of the previous three
(3) fiscal years, less any reimbursement previously paid by such Fund to
the Manager, pursuant to Section 2.2 hereof, with respect to such waivers,
reductions, and payments. The Reimbursement Amount shall not include any
additional charges or fees whatsoever, including, e.g., interest accruable
on the Reimbursement Amount.
1. Schedule A. Schedule A to the Agreement, which sets forth the Portfolios of
the Trust, is hereby replaced in its entirety by the Amendment No. 1 to
Schedule A attached hereto.
Except as modified and amended hereby, the Agreement is hereby ratified and
confirmed in full force and effect in accordance with its terms.
IN WITNESS WHEREOF, the parties have executed and delivered this Amendment
No. 1 as of the date first above set forth.
AXA PREMIER VIP TRUST THE EQUITABLE LIFE ASSURANCE
SOCIETY OF THE UNITED STATES
By: /s/ Xxxxxx X. Xxxxx By: /s/ Xxxxx X. Xxxxx
--------------------------------- ---------------------------------
Xxxxxx X. Xxxxx Xxxxx X. Xxxxx
President and Chief Executive Executive Vice President and
Officer Chief Investment Officer
AMENDMENT NO. 1
SCHEDULE A
MAXIMUM ANNUAL OPERATING EXPENSE LIMITS
This Agreement relates to the following Funds of the Trust:
Maximum Annual
Name of Fund Operating Expense Limit
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AXA Premier VIP Large Cap Core Equity Portfolio 1.10%
AXA Premier VIP Large Cap Growth Portfolio 1.10%
AXA Premier VIP Large Cap Value Portfolio 1.10%
AXA Premier VIP Small/Mid Cap Growth Portfolio 1.35%
AXA Premier VIP Small/Mid Cap Value Portfolio 1.35%
AXA Premier VIP International Equity Portfolio 1.55%
AXA Premier VIP Technology Portfolio 1.60%
AXA Premier VIP Health Care Portfolio 1.60%
AXA Premier VIP Core Bond Portfolio 0.70%
AXA Conservative Allocation Portfolio 0.10%
AXA Conservative-Plus Allocation Portfolio 0.10%
AXA Moderate Allocation Portfolio 0.10%
AXA Moderate-Plus Allocation Portfolio 0.10%
AXA Aggressive Allocation Portfolio 0.10%
