OPERATING EXPENSE LIMITATION AGREEMENT, dated May 23, 2014 (Amended – August 25, 2014) Appendix A

OPERATING EXPENSE LIMITATION AGREEMENT, dated May 23, 2014

(Amended – August 25, 2014)

Appendix A

Fund/Share Class TCG Daily Liquidity Government Money Market Fund	Operating Expense Limit
Institutional Shares	.25%
Service Shares	.30%
Investor A Shares	.35%
Investor B Shares	.40%
Investor C Shares	.45%

TCG Financial Series Trust II on behalf of TCG Daily Liquidity Government Money Market Fund   By:   /s/Xxxxx Xxxxxx Name:       Xxxxx Xxxxxx Title: President TCG Financial Services, LLC       By: /s/ Xxxxxx Xxxxxx Name:       Xxxxxx Xxxxxx Title:President

Dated: August 25, 2014