EXHIBIT (D)(2)
EXPENSE LIMITATION AGREEMENT
AGREEMENT made as of the 1st day of August 2006 by and between STI Classic Funds
(the "Trust"), a Massachusetts business trust, and Trusco Capital Management
Inc. (the "Adviser").
The Adviser hereby agrees to waive its fee and/or reimburse expenses to the
extent necessary to limit total operating expenses for the series of the Trust
(the "Funds") set forth on Schedule A to the levels set forth on Schedule A
until August 1, 2007.
If at any point before August 1, 2009, it becomes unnecessary for the Adviser to
make reimbursements for a particular Fund, the Adviser may retain the difference
between the Total Annual Fund Operating Expenses of that Fund and the applicable
expense cap to recapture any of its prior reimbursements.
The Trust acknowledges that the Adviser may engage in brokerage transactions
using Fund assets with brokers who agree to pay a portion of the Fund's
expenses, and that the Adviser's guarantee of Fund expense ratios takes into
account these expenses-limiting arrangements.
IN WITNESS WHEREOF, the parties hereto have caused this Expense Limitation
Agreement to be executed as of the day and year first written above.
STI CLASSIC FUNDS TRUSCO CAPITAL MANAGEMENT INC.
By: /s/ R. Xxxxxxx Xxxxx By: Xxxxxxx X. Xxxxxxxxx
--------------------------------- ------------------------------------
Title: President Title: Chief Compliance Officer
EXPENSE LIMITATION AGREEMENT
SCHEDULE A
EXPENSE
FUND SHARE CLASS LIMITATION
---- --------------- ----------
North Carolina Tax-Exempt Bond I 0.71%
North Carolina Tax-Exempt Bond A 0.86%
North Carolina Tax-Exempt Bond C 1.71%
Seix Floating Rate High Income I 0.55%
Seix Floating Rate High Income A 0.85%
Virginia Intermediate Municipal Bond I 0.60%
Virginia Intermediate Municipal Bond A 0.75%
Virginia Intermediate Municipal Bond C 1.60%
Classic Institutional Cash
Management Money Market Institutional 0.17%
Classic Institutional Municipal Cash
Reserve Money Market Institutional 0.20%
Classic Institutional U.S. Government
Securities Money Market Institutional 0.20%
Classic Institutional U.S. Treasury
Securities Money Market Institutional 0.20%
Classic Institutional U.S. Treasury
Securities Money Market Corporate Trust 0.45%
Life Vision Aggressive Growth I 0.20%
Life Vision Aggressive Growth A 0.50%
Life Vision Aggressive Growth B 0.95%
Life Vision Aggressive Growth C 1.20%
Life Vision Conservative Growth I 0.20%
Life Vision Conservative Growth A 0.50%
Life Vision Conservative Growth B 0.95%
Life Vision Conservative Growth C 1.20%
Life Vision Growth & Income I 0.20%
Life Vision Growth & Income A 0.50%
Life Vision Growth & Income B 0.95%
Life Vision Growth & Income C 1.20%
EXPENSE LIMITATION AGREEMENT
SCHEDULE A
(CONTINUED)
EXPENSE
FUND SHARE CLASS LIMITATION
---- --------------- ----------
Life Vision Moderate Growth I 0.20%
Life Vision Moderate Growth A 0.50%
Life Vision Moderate Growth B 0.95%
Life Vision Moderate Growth C 1.20%
Life Vision Target Date 2015 I 0.20%
Life Vision Target Date 2015 A 0.50%
Life Vision Target Date 2015 C 1.20%
Life Vision Target Date 2025 I 0.20%
Life Vision Target Date 2025 A 0.50%
Life Vision Target Date 2025 C 1.20%
Life Vision Target Date 2035 I 0.20%
Life Vision Target Date 2035 A 0.50%
Life Vision Target Date 2035 C 1.20%
