EXPENSE LIMITATION AGREEMENT
THIS AGREEMENT is effective as of the 11th day of December 2009, between
FAF Advisors, Inc., as investment advisor (the "Advisor"), and First American
Strategy Funds, Inc. ("FASF").
WHEREAS, FASF includes the investment portfolios set forth in Exhibit A
hereto (each a "Fund" and, collectively, the "Funds"), each of which offers one
or more classes of shares; and
WHEREAS, the Advisor wishes to contractually limit fees and reimburse
expenses for the Funds through December 31, 2010; and
WHEREAS, it is in the interests of both the Advisor and the shareholders of
the Fund to limit Fund expenses as set forth herein.
NOW, THEREFORE, in consideration of the foregoing, the parties hereto agree
that the Advisor will limit its fees and/or reimburse Fund expenses to the
extent necessary to limit the annual operating expenses net of acquired fund
fees and expenses of the Fund to the amounts set forth in Exhibit A hereto
(which limits are set forth for the Fund on a class-by-class basis). The Advisor
agrees that it may not be reimbursed by FASF for the fees waived by the Advisor
under the terms of the agreement. The Advisor agrees to continue the foregoing
expense limits through December 31, 2010. Thereafter, any expense limit may be
changed upon prior notice to FASF's Board of Directors.
IN WITNESS WHEREOF, the parties have signed this agreement as of the day
and year first above written.
FAF ADVISORS, INC. FIRST AMERICAN STRATEGY FUNDS, INC.
By: /s/ Xxxxxx X. Xxxxx III By: /s/ Xxxxxxx X. Xxxxxxxxx, Xx.
--------------------------------- ------------------------------------
Name: Xxxxxx X. Xxxxx III Name: Xxxxxxx X. Xxxxxxxxx, Xx.
Title: Chief Financial Officer Title: Treasurer
FIRST AMERICAN STRATEGY FUNDS, INC.
EXHIBIT A
TO
EXPENSE LIMITATION AGREEMENT DATED DECEMBER 11, 2009
EFFECTIVE DECEMBER 11, 2009
ANNUAL OPERATING EXPENSE
LIMITATION (NET OF ACQUIRED FUND FEES
AND EXPENSES)
AS A PERCENTAGE OF
AVERAGE DAILY NET ASSETS
-------------------------------------
STRATEGY AGGRESSIVE ALLOCATION FUND
Class A 0.4000%
Class B 1.1500%
Class C 1.1500%
Class R 0.6500%
Class Y 0.1500%
STRATEGY GROWTH ALLOCATION FUND
Class A 0.4000%
Class B 1.1500%
Class C 1.1500%
Class R 0.6500%
Class Y 0.1500%
STRATEGY BALANCED ALLOCATION FUND
Class A 0.4000%
Class B 1.1500%
Class C 1.1500%
Class R 0.6500%
Class Y 0.1500%
STRATEGY CONSERVATIVE ALLOCATION FUND
Class A 0.4000%
Class B 1.1500%
Class C 1.1500%
Class R 0.6500%
Class Y 0.1500%
