AMENDMENT TO OPERATING EXPENSES AGREEMENT
AMENDMENT TO OPERATING EXPENSES AGREEMENT
This Amendment, effective as of April 30, 2013, is made by and between Xxxxxxxx International Funds (the “Trust”) and Xxxxxxxx International Capital Management, LLC (“Xxxxxxxx,” and together with the Trust, the “Parties”).
Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Operating Expenses Agreement, dated as of November 4, 2003, as amended August 12, 2005, August 11, 2006, April 23, 2007, September 15, 2008, November 30, 2009, May 19, 2011, and November 30, 2011, by and between the Trust and Xxxxxxxx (the “Agreement”).
WITNESSETH THAT:
WHEREAS, the Parties originally entered into this Agreement, wherein Xxxxxxxx agreed to provide certain services to the Trust;
WHEREAS, the Parties wish to amend Appendix A of the Agreement to provide for the addition of two separate series of the Trust with an initial term until August 31, 2015;
NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein, the Parties hereto, intending to be legally bound, do hereby agree as follows:
| a) | The addition of the Xxxxxxxx Asia Focus Fund and Xxxxxxxx Emerging Asia Fund on the attached amended Appendix A. |
| b) | Paragraph 5 of the Agreement is hereby amended in its entirety to read as follows: |
5. Term. This Agreement shall become effective on the date specified herein and shall remain in effect until August 31, 2004, unless sooner terminated as provided in Paragraph 6 of this Agreement. This Agreement shall continue in effect thereafter for additional periods not exceeding one (1) year so long as such continuation is approved for each Fund at least annually by the Board of Trustees of the Trust (and separately by the disinterested Trustees of the Trust); provided, however, that the Expense Cap with respect to Xxxxxxxx Asia Growth Fund, Xxxxxxxx Pacific Tiger Fund, Xxxxxxxx Asian Growth and Income Fund, Xxxxxxxx Asia Science and Technology Fund, Xxxxxxxx China Fund, Xxxxxxxx India Fund, Xxxxxxxx Japan Fund, Xxxxxxxx Korea Fund, Xxxxxxxx Asia Dividend Fund and Xxxxxxxx Asia Small Companies Fund shall remain in effect until August 31, 2012 unless earlier terminated in accordance with Paragraph 6 hereof, renewable thereafter for additional periods not exceeding one (1) year so long as such continuation is approved for such Funds at least annually by the Board of Trustees of the Trust (and separately by the disinterested Trustees of the Trust); provided, further, that the Expense Cap with respect to Xxxxxxxx China Dividend Fund shall remain in effect until August 31, 2013 unless earlier terminated in accordance with Paragraph 6 hereof, renewable thereafter for additional periods not exceeding one (1) year so long as such continuation is approved for such Fund at least annually by the Board of Trustees of the Trust (and separately by the disinterested Trustees of the Trust); provided, further, that the Expense Cap with respect to Xxxxxxxx China Small Companies Fund and Xxxxxxxx Asia Strategic Income Fund shall remain in effect until August 31, 2014 unless earlier terminated in accordance with Paragraph 6 hereof, renewable thereafter for additional periods not exceeding one (1) year so long as such continuation is approved for such Funds at least annually by the Board of Trustees of the Trust (and separately by the disinterested Trustees of the Trust); and provided, further, that the Expense Cap with respect to Xxxxxxxx Asia Focus Fund and Xxxxxxxx Emerging Asia Fund shall remain in effect until August 31, 2015 unless earlier terminated in accordance with Paragraph 6 hereof, renewable thereafter for additional periods not exceeding one (1) year so long as such continuation is approved for such Funds at least annually by the Board of Trustees of the Trust (and separately by the disinterested Trustees of the Trust).
IN WITNESS WHEREOF, the Parties hereto have caused this Amendment, including the amended Appendix A attached hereto, to be signed by their duly authorized officers as of the date set forth below.
| XXXXXXXX INTERNATIONAL FUNDS | XXXXXXXX INTERNATIONAL | |||||
| CAPITAL MANAGEMENT, LLC | ||||||
| By | /s/ Xxxx X. XxXxxxx | By | /s/ Xxxxxxx X. Xxxxxxx | |||
| Name: | Xxxx X. XxXxxxx | Name: | Xxxxxxx X. Xxxxxxx | |||
| Title: | Vice President | Title: | Chief Executive Officer | |||
| Date: | April 30, 2013 | Date: | April 30, 0000 | |||
Xxxxxxxx A
(updated April 30, 2013)
| Fund | Operating Expense Limit |
Effective Date | |||
| · | Xxxxxxxx Asia Growth Fund | 1.90% | October 31, 2003 | ||
| · | Xxxxxxxx Asia Dividend Fund | 1.50% | August 11, 2006 | ||
| · | Xxxxxxxx Pacific Tiger Fund | 1.90% | September 12, 1994 | ||
| · | Xxxxxxxx Asian Growth and Income Fund | 1.90% | September 12, 1994 | ||
| · | Xxxxxxxx Asia Science and Technology Fund | 2.00% | December 27, 1999 | ||
| · | Xxxxxxxx China Fund | 2.00% | February 19, 1998 | ||
| · | Xxxxxxxx India Fund | 2.00% | Xxxxxx 00, 0000 | ||
| · | Xxxxxxxx Xxxxx Fund | 2.00% | December 31, 1998 | ||
| · | Xxxxxxxx Korea Fund | 2.00% | April 3, 2002 | ||
| · | Xxxxxxxx Asia Small Companies Fund | 2.00% | September 15, 2008 | ||
| · | Xxxxxxxx China Dividend Fund | 1.50% | November 30, 2009 | ||
| · | Xxxxxxxx China Small Companies Fund | 2.00% | May 31, 2011 | ||
| · | Xxxxxxxx Asia Strategic Income Fund – Institutional Class | 1.25% | November 30, 2011 | ||
| · | Xxxxxxxx Asia Strategic Income Fund – Investor Class | 1.25%1 | November 30, 2011 | ||
| · | Xxxxxxxx Asia Focus Fund – Institutional Class | 1.75% | April 30, 2013 | ||
| · | Xxxxxxxx Asia Focus Fund – Investor Class | 1.75%1 | April 30, 2013 | ||
| · | Xxxxxxxx Emerging Asia Fund – Institutional Class | 2.00% | April 30, 2013 | ||
| · | Xxxxxxxx Emerging Asia Fund – Investor Class | 2.00%1 | April 30, 2013 | ||
1 Operating Expense Limit for the Investor Class of the Xxxxxxxx Strategic Income Fund, Xxxxxxxx Asia Focus Fund and Xxxxxxxx Emerging Asia Fund excludes those certain shareholder servicing fees payable by these Funds to third party intermediaries that exceed the amount of those fees (expressed as a difference in the total operating expenses percentage) incurred by the Institutional Class of these Funds. For example, if those fees are 0.07% for the Institutional Class and 0.22% for the Investor Class, then that 0.15% difference would increase the expense cap to 1.40% (1.25% plus 0.15%), 1.90% (1.75% plus 0.15%) and 2.15% (2.00% plus 0.15%) for the Investor Class of the Xxxxxxxx Strategic Income Fund, Xxxxxxxx Asia Focus Fund and Xxxxxxxx Emerging Asia Fund, respectively.
