EX-99.d.3
VTL Associates, LLC
One Commerce Square
0000 Xxxxxx Xxxxxx, Xxxxx 0000
Xxxxxxxxxxxx, XX 00000
August 15, 2008
RevenueShares ETF Trust
Xxx Xxxxxxxx Xxxxxx
0000 Xxxxxx Xxxxxx, Xxxxx 0000
Xxxxxxxxxxxx, XX 00000
Re: Expense Limitations
Ladies and Gentlemen:
By our execution of this letter agreement (the "Agreement"), intending to
be legally bound hereby, VTL Associates, LLC (the "Adviser"), agrees that, with
respect to the funds listed on Schedule A hereto (each, a "Fund" and
collectively, the "Funds"), which are series of the RevenueShares ETF Trust, the
Adviser shall, from August 15, 2008 through September 30, 2009, waive all or a
portion of its investment advisory fees and/or reimburse expenses (excluding any
taxes, interest, brokerage fees, certain insurance costs and extraordinary
expenses) in an aggregate amount equal to the amount by which a Fund's total
operating expenses (excluding any taxes, interest, brokerage fees, certain
insurance costs and extraordinary expenses) exceeds the amount opposite such
Fund's name on Schedule A hereto (excluding any taxes, interest, brokerage fees,
certain insurance costs and extraordinary expenses).
The Adviser acknowledges that it: (1) shall not be entitled to collect on,
or make a claim for, waived fees at any time in the future; and (2) shall not be
entitled to collect on, or make a claim for, reimbursed Fund expenses at any
time in the future.
VTL Associates, LLC
By: /s/ Xxxxxxx X. Xxxxx
Xxxxxxx X. Xxxxx
Chief Executive Officer
Date:
Your signature below acknowledges
acceptance of this Agreement:
RevenueShares ETF Trust
By: /s/ Xxxxxxx X. Xxxxx
Xxxxxxx X. Xxxxx
President
Date:
SCHEDULE A
Funds Expense Limitation (as a
percentage of a Fund's
average daily net assets)
RevenueShares Consumer Discretionary Sector Fund 0.49%
RevenueShares Consumer Staples Sector Fund 0.49%
RevenueShares Energy Sector Fund 0.49%
RevenueShares Financials Sector Fund 0.49%
RevenueShares Health Care Sector Fund 0.49%
RevenueShares Industrials Sector Fund 0.49%
RevenueShares Information Technology Sector Fund 0.49%
RevenueShares Materials Sector Fund 0.49%
RevenueShares Utilities Sector Fund 0.49%
RevenueShares Navellier Overall A-100 Fund 0.60%
RevenueShares ADR Fund 0.49%
