February 24, 2009 Randall W. Merk, President and Chief Executive Officer, Schwab Capital Trust Schwab Investments 101 Montgomery Street San Francisco, CA 94104 Re: Funds of Schwab Capital Trust and Schwab 1000 Fund Dear Mr. Merk:

Exhibit - (d)(xxii)

February 24, 2009

Xxxxxxx X. Xxxx,
President and Chief Executive Officer,
Schwab Capital Trust
Schwab Investments
000 Xxxxxxxxxx Xxxxxx
Xxx Xxxxxxxxx, XX 00000

Re: Funds of Schwab Capital Trust and Schwab 1000 Fund

Dear Xx. Xxxx:

This letter will confirm our agreement to limit net operating expenses of the following funds, as noted in the table below and described in the funds’ registration statements filed with the Securities and Exchange Commission.

		Net Operating
Fund		Expense limit		Guaranteed through:
Xxxxxx MarketTrack All Equity Portfolio – Investor Shares		50 bps		2/27/11
Xxxxxx MarketTrack Conservative Portfolio –Investor Shares		50 bps		2/27/11
Xxxxxx MarketTrack Balanced Portfolio – Investor Shares		50 bps		2/27/11
Xxxxxx MarketTrack Growth Portfolio – Investor Shares		50 bps		2/27/11
Xxxxxx MarketTrack Conservative Portfolio – P Shares		35 bps		2/27/11
Xxxxxx MarketTrack Growth Portfolio – P Shares		35 bps		2/27/11
Laudus U.S. MarketMasters Fund – Investor Shares		125 bps		2/27/11
Laudus U.S. MarketMasters Fund – Select Shares		107 bps		2/27/11
Laudus Small-Cap MarketMasters Fund – Investor Shares		146 bps		2/27/11

		Net Operating
Fund		Expense limit		Guaranteed through:
Laudus Small-Cap MarketMasters Fund – Select Shares		131 bps		2/27/11
Laudus International MarketMasters Fund – Investor Shares		165 bps		2/27/11
Laudus International MarketMasters Fund – Select Shares		147 bps		2/27/11
Schwab Large-Cap Growth Fund – Investor Shares		120 bps		2/27/11
Schwab Large-Cap Growth Fund – Select Shares		99 bps		2/27/11
Schwab Core Equity Fund		75 bps		2/27/11
Schwab S&P 500 Index Fund – Investor Shares		37 bps		2/27/11
Schwab S&P 500 Index Fund – Select Shares		19 bps		2/27/11
Schwab S&P 500 Index Fund – e. Shares		28 bps		2/27/11
Schwab 1000 Index Fund – Investor Shares		51 bps		2/27/11
Schwab 1000 Index Fund – Select Shares		36 bps		2/27/11
Schwab Small-Cap Index Fund – Investor Shares		60 bps		2/27/11
Schwab Small-Cap Index Fund – Select Shares		42 bps		2/27/11
Xxxxxx Total Stock Market Index Fund – Investor Shares		58 bps		2/27/11
Xxxxxx Total Stock Market Index Fund – Select Shares		39 bps		2/27/11
Schwab International Index Fund – Investor Shares		69 bps		2/27/11

		Net Operating
Fund		Expense limit		Guaranteed through:
Schwab International -Index Fund – Select Shares		50 bps		2/27/11
Schwab Dividend Equity Fund – Investors Shares		110 bps		2/27/11
Schwab Dividend Equity Fund – Select Shares		95 bps		2/27/11
Schwab Small-Cap Equity Fund – Investors Shares		130 bps		2/27/11
Schwab Small-Cap Equity Fund – Select Shares		112 bps		2/27/11
Schwab Hedged Equity Fund – Investor Shares		149 bps		2/27/11
Schwab Hedged Equity Fund – Select Shares		133 bps		2/27/11
Schwab Financial Services Fund		110 bps		2/27/11
Schwab Health Care Fund		110 bps		2/27/11
Schwab Institutional Select S&P 500 Fund		10 bps		2/27/11
Schwab Premier Equity Fund – Investor Shares		130 bps		2/27/11
Schwab Premier Equity Fund – Select Shares		115 bps		2/27/11
Schwab Balanced Fund (formerly, Schwab Viewpoints Fund, Laudus Balanced MarketMasters Fund – Investor Shares)		0 bps		2/27/11
Schwab Target 2010 Fund		6 bps		2/27/11
Schwab Target 2015 Fund		5bps		2/27/11
Schwab Target 2020 Fund		4 bps		2/27/11
Schwab Target 2025 Fund		4 bps		2/27/11
Schwab Target 2030 Fund		3 bps		2/27/11

		Net Operating
Fund		Expense limit		Guaranteed through:
Schwab Target 2035 Fund		2 bps		2/27/11
Schwab Target 2040 Fund		1 bps		2/27/11
Schwab Retirement Income Fund		10 bps		2/27/11
Xxxxxx Fundamental US Large Company Index Fund – Investor Shares		59 bps		2/27/11
Xxxxxx Fundamental US Large Company Index Fund – Select Shares		44 bps		2/27/11
Xxxxxx Fundamental US Large Company Index Fund – Institutional Shares		35 bps		2/27/11
Schwab Fundamental US Small-Mid Company Index Fund – Investor Shares		59 bps		2/27/11
Schwab Fundamental US Small-Mid Company Index Fund – Select Shares		44 bps		2/27/11
Schwab Fundamental US Small-Mid Company Index Fund – Institutional Shares		35 bps		2/27/11
Schwab Fundamental International Large Company Index Fund – Investor Shares		59 bps		2/27/11
Schwab Fundamental International Large Company Index Fund – Select Shares		44 bps		2/27/11
Schwab Fundamental International Large Company Index Fund – Institutional Shares		35 bps		2/27/11
Schwab Fundamental International Small-Mid Company Index Fund – Investor Shares		79 bps		2/27/19
Schwab Fundamental International Small-Mid Company Index Fund – Select Shares		64 bps		2/27/19
Schwab Fundamental International Small-Mid Company Index Fund – Institutional Shares		55 bps		2/27/19

		Net Operating
Fund		Expense limit		Guaranteed through:
Schwab Fundamental Emerging Markets Index Fund – Investor Shares		84 bps		2/27/19
Schwab Fundamental Emerging Markets Index Fund – Select Shares		69 bps		2/27/19
Schwab Fundamental Emerging Markets Index Fund – Institutional Shares		60 bps		2/27/19
Schwab International Core Equity Fund – Investor Shares		110 bps		2/27/11
Schwab International Core Equity Fund – Select Shares		95 bps		2/27/11
Schwab International Core Equity Fund – Institutional Shares		86 bps		2/27/11

Sincerely,

/s/ Xxxxxx Xxxxxxx   Xxxxxx Xxxxxxx
Chief Financial Xxxxxxx, Xxxxxxx
Xxxxxx Investment Management, Inc. /s/ Xxxxxxx Xxxx   Xxxxxxx Xxxx,
Vice President, Equity Product
Management

cc:
Xxxx Xxxxxx
Xxxxxxx Xxxxxxx
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Xxxxx Xxxx
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Zuogang Xxx
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