AGREEMENT TO WAIVE FEES AND REIMBURSE EXPENSES DAVIS INTERNATIONAL FUND CLASS A, B, C, Y SHARES
Exhibit 23(h)(5)
THIS AGREEMENT is made this _8th day of December, 0000, xxxxxxx Xxxxx Xxx Xxxx Venture
Fund, Inc, a Maryland corporation (“DNYVF”) and Xxxxx Selected Advisers, L.P., a limited
partnership organized under the laws of Colorado (“DSA”).
RECITALS:
WHEREAS, DNYVF is a registered open-end management investment company with four authorized series
(Xxxxx New York Venture Fund, Xxxxx Research Fund, Xxxxx Global Fund, and Xxxxx International
Fund); and
WHEREAS, DNYVF and DSA have entered into an agreement dated September 19, 2006 whereby DSA agreed
to waive fees and reimburse expenses for Xxxxx International Fund Class A, B, and C, shares; and
WHEREAS, Xxxxx International Fund intends to offers four Classes of shares to the public (A, B, C
and Y,); and
WHEREAS, DSA serves as the investment adviser for DNYVF; and
WHEREAS, both DNYVF and DSA agree it is important that the actual expenses of Xxxxx International
Fund not exceed a specified percentage (Class A shares: 1.30%, Class B shares: 2.30%, Class C
shares: 2.30%, Class Y shares: 1.05% of net assets on an annual basis;.
NOW, THEREFORE, the parties hereby agree as follows:
1. Terminate Former Agreement The Agreement dated September 19, 2006 is hereby terminated
by mutual consent.
2. Expense Caps. DSA agrees to waive fees and reimburse the expenses of each authorized
Class of shares of Xxxxx International Fund to the extent it is necessary to ensure that the
actual expense incurred by any authorized Class of shares, after recognizing the benefits of
custody or other credits. fee waivers and expense reimbursements, not exceed (Class A shares:
1.30%, Class B shares: 2.30%, Class C shares: 2.30%, Class Y shares; 1.05%) of net assets.
| 1. | Duration of Agreement This Agreement shall be effective for an initial period beginning on the date above stated and ending on March 1, 2010. This Agreement shall automatically renew for additional one year periods if not terminated, in writing, by either party before March 1st of each year. |
IN WITNESS WHEREOF, the parties have duly executed and sealed this Agreement, all as of the date
first written above.
Xxxxx New York Venture Fund, Inc.
By: |
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| Vice President |
Xxxxx Selected Advisers, L.P.
By Xxxxx Investments, LLC (General Partner)
By Xxxxx Investments, LLC (General Partner)
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By: |
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| Vice President |
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