Exhibit 23(h)(2)
December 5, 2002
The Board of Trustees
Century Capital Management Trust
Xxx Xxxxxxx Xxxxxx
Xxxxxx, Xxxxxxxxxxxxx 00000
Re: Fee Waiver
Gentlemen:
Century Capital Management, Inc. herewith confirms our agreement with
you as follows:
1. Pursuant to an Investment Advisory and Management Services Agreement dated as
of December 13, 1999 (the "Advisory Agreement"), you have employed us to manage
the investment and reinvestment of the assets of Century Small Cap Select Fund
(the "Fund"), an authorized series of Century Capital Management Trust.
2. We hereby agree that, notwithstanding any provision to the contrary contained
in the Advisory Agreement, we shall limit, by waiver of the fees payable to us
pursuant to the Advisory Agreement or reimbursement, the aggregate expenses of
every character incurred by you, excluding brokerage commissions, taxes interest
and litigation, indemnification and other extraordinary expenses (the
"Limitation"). Under the Limitation, we agree that, through February 28, 2004,
such expenses shall not exceed a percentage of your average daily net assets
equal to, on an annualized basis, 1.80% in the case of the Investor Shares of
the Fund and 1.45% in the case of the Institutional Shares of the Fund.
Very truly yours,
CENTURY CAPITAL MANAGEMENT, INC.
By: /s/ Xxxxxxxxx X. Xxxxxxxxx
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Xxxxxxxxx X. Xxxxxxxxx
Managing Director
