Exhibit (14)(d)
Xxxxxxxx-Xxxxxxxxx Institutional Funds
000 Xxxx Xxxxxxxx, 00xx Xxxxx
Xxx Xxxxx, Xxxxxxxxxx 00000
May 17, 2002
Xxxxxxxx-Xxxxxxxxx Capital Management
000 Xxxx Xxxxxxxx, 00xx Xxxxx
Xxx Xxxxx, Xxxxxxxxxx 00000
Ladies and Gentlemen:
This will confirm our agreement pursuant to which Xxxxxxxx-Xxxxxxxxx Capital
Management (the "Adviser") will waive its fees and absorb other operating
expenses of various series of the Xxxxxxxx-Xxxxxxxxx Institutional Funds so
that total operating expenses, excluding taxes, interest, brokerage and the
expenses incurred from the creation and operation of the Mauritius entity, do
not exceed the percentages set forth on the following page through March 31,
2003. In subsequent years, overall operating expenses for each series will
not fall below the applicable percentage limitation until the Adviser has
been fully reimbursed for fees foregone and expenses paid under this
Agreement, as each series will reimburse the Adviser in subsequent years when
operating expenses (before reimbursement) are less than the applicable
percentage limitation.
Very truly yours,
----------------------
Xxxxxxx X. Xxxxxx
Assistant Secretary
AGREED:
Xxxxxxxx-Xxxxxxxxx Capital Management
By: ____________________________
Xxxxxxx X. Xxxxx, Xx.
Deputy General Counsel
EXPENSE LIMITATIONS
Emerging Growth Class I 1.25%
Class R 1.50%
U.S. Equity Growth Class I 1.00%
Class R 1.25%
U.S. Large Cap Select Growth Class I 0.90%
Class R 1.15%
Large Cap Value Class I 0.85
Class R 1.10%
Emerging Countries Class I 1.50%
Class R 1.75%
International Core Growth Class I 1.15%
Class R 1.40%
Growth Discovery Class I 1.56%
Global Technology Class I 1.40%
International Growth Opportunities Class I 1.40%
Class R 1.65%
Worldwide Growth Class I 1.00%
Class R 1.25%
Convertible Class I 1.00%
Global Select Class I 1.05%
Class R 1.30%
Global Health Care Class I 1.40%
High Yield Bond Class I 0.75%
Class R 1.00%
International Structured Class I 1.25%
Value Opportunities Class I 1.30%
Xxxxxxxx-Xxxxxxxxx Institutional Funds
000 Xxxx Xxxxxxxx, 00xx Xxxxx
Xxx Xxxxx, Xxxxxxxxxx 00000
November 8, 2002
Xxxxxxxx-Xxxxxxxxx Capital Management
000 Xxxx Xxxxxxxx, 00xx Xxxxx
Xxx Xxxxx, Xxxxxxxxxx 00000
Ladies and Gentlemen:
This will confirm our agreement pursuant to which Xxxxxxxx-Xxxxxxxxx Capital
Management (the "Adviser") will waive its fees and absorb other operating
expenses of the various series of the Xxxxxxxx-Xxxxxxxxx Institutional Funds so
that total operating expenses, excluding taxes, interest, brokerage, the
expenses incurred from the creation and operation of the Mauritius entity,
extraordinary expenses and expenses paid by directed brokerage and other offset
arrangements, do not exceed the percentages set forth on the following page
through March 31, 2003. In subsequent years, overall operating expenses for each
series will not fall below the applicable percentage limitation until the
Adviser has been fully reimbursed for fees foregone and expenses paid under this
agreement, as each series will reimburse the Adviser in subsequent years when
operating expenses (before reimbursement) are less than the applicable
percentage limitation.
Very truly yours,
-----------------------
Xxxxxxx X. Xxxxxx
Assistant Secretary
AGREED:
Xxxxxxxx-Xxxxxxxxx Capital Management
By: ____________________________
Xxxxxxx X. Xxxxx, Xx.
Deputy General Counsel
FUND SHARE CLASS EXPENSE LIMITATION
U.S. Large Cap Select Growth I 1.005%
U.S. Large Cap Select Growth II 0.90%
U.S. Large Cap Select Growth III 0.80%
U.S. Large Cap Select Growth IV 0.70%
U.S. Large Cap Select Growth R 1.25%
Large Cap Value I 1.00%
Large Cap Value II 0.90%
Large Cap Value III 0.80%
Large Cap Value IV 0.70%
Large Cap Value R 1.25%
U.S. Equity Growth I 1.00%
U.S. Equity Growth II 0.95%
U.S. Equity Growth III 0.90%
U.S. Equity Growth IV 0.85%
U.S. Equity Growth R 1.25%
Emerging Growth I 1.25%
Emerging Growth R 1.50%
Growth Discovery I 1.40%
High Yield Bond I 0.80%
High Yield Bond II 0.70%
High Yield Bond III 0.65%
High Yield Bond IV 0.60%
Convertible I 1.00%
Convertible II 0.90%
Convertible III 0.85%
Convertible IV 0.80%
Value Opportunities I 1.30%
International Core Growth I 1.15%
International Core Growth II 1.00%
International Core Growth III 0.90%
International Core Growth IV 0.75%
International Core Growth V 0.65%
International Core Growth R 1.40%
International Growth Opportunities I 1.40%
International Growth Opportunities II 1.25%
International Growth Opportunities III 1.20%
International Growth Opportunities IV 1.15%
International Growth Opportunities V 1.10%
Worldwide Growth I 1.25%
Worldwide Growth II 1.00%
Worldwide Growth III 0.95%
Worldwide Growth IV 0.85%
Worldwide Growth V 0.75%
Global Select I 1.10%
Global Select II 1.05%
Global Select III 1.00%
FUND SHARE CLASS FEE
Global Select IV 0.95%
International Structured I 1.25%
International Structured II 1.10%
International Structured III 1.00%
International Structured IV 0.90%
Emerging Countries I 1.65%
Emerging Countries II 1.50%
Emerging Countries III 1.40%
Emerging Countries IV 1.30%
Emerging Countries V 1.25%
