SSgA Funds Management, Inc. State Street Financial Center One Lincoln Street Boston, MA 02111-2900
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SSgA Funds Management, Inc. State Street Financial Center Xxx Xxxxxxx Xxxxxx Xxxxxx, XX 00000-0000 |
May 1, 2014
Xx. Xxxxx X. Dell
Treasurer and Principal Financial Officer
c/o State Street Corporation
0 Xxxxxx, 0xx Xxxxx
Xxxxxx, Xxxxxxxxxxxxx 00000
| RE: | SSgA Funds Waiver and Reimbursement Agreement |
Dear Xxxxx:
SSgA Funds Management, Inc. (“SSgA FM”), as advisor to the SSgA Funds (the “Funds”), agrees until December 31, 2015 to (i) waive up to the full amount of the advisory fee payable by a Fund, and (ii) to reimburse the Fund (exclusive of non-recurring account fees, extraordinary expenses, acquired fund fees and Distribution, Shareholder Servicing and Sub-Transfer Agency Fees, as measured on an annualized basis) to the level of the expense limitation for each Fund stated below:
| SSgA Fund Name |
Expense Limitation | Expiration Date | ||||||
| SSgA Clarion Real Estate Fund |
0.75 | % | December 31, 2015 | |||||
| SSgA IAM SHARES Fund |
0.60 | % | December 31, 2015 | |||||
| SSgA Emerging Markets Fund |
1.00 | % | December 31, 2015 | |||||
| SSgA International Stock Selection Fund |
0.75 | % | December 31, 2015 | |||||
| SSgA Dynamic Small Cap Fund |
0.85 | % | December 31, 2015 | |||||
| SSgA Enhanced Small Cap Fund |
0.50 | % | December 31, 2015 | |||||
| SSgA High Yield Bond Fund |
0.50 | % | December 31, 2015 | |||||
| SSgA S&P 500 Index Fund |
0.13 | % | December 31, 2015 | |||||
| SSgA Money Market Fund |
0.32 | % | December 31, 2015 | |||||
| SSgA U.S. Government Money Market Fund |
0.32 | % | December 31, 2015 | |||||
| SSgA U.S. Treasury Money Market Fund |
0.16 | % | December 31, 2015 | |||||
| SSgA Prime Money Market Fund |
0.15 | % | December 31, 2015 | |||||
In addition, SSgA FM agrees to the following management fee waivers on an annual basis for certain Funds in the amounts and for the expiration dates shown in the table below.
| SSgA Fund Name |
Management Fee Waiver |
Expiration Date | ||||
| SSgA Prime Money Market Fund |
0.05% of 0.15% management fee | December 31, 2014 | ||||
| SSgA U.S. Treasury Money Market Fund |
0.05% of 0.15% management fee | December 31, 2014 | ||||
Prior to December 31, 2014 or December 31, 2015, as specified above, this agreement may not be terminated with respect to a Fund without the approval of the Board of Trustees. This agreement supersedes any prior voluntary waiver or reimbursement arrangements for the Funds specifically named above and may, at SSgA FM’s option, continue after the dates designated above.
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SSgA Funds Management, Inc. State Street Financial Center Xxx Xxxxxxx Xxxxxx Xxxxxx, XX 00000-0000 |
If this arrangement is acceptable to you, please sign below to indicate your acceptance and agreement and return a copy of this letter to me.
| Sincerely, |
| SSgA FUNDS MANAGEMENT, INC. |
| /s/ Xxxxx X. Xxxxxxx |
| By: |
| Xxxxx X. Xxxxxxx, Senior Managing Director and President |
| Accepted and Agreed: |
| SSgA Funds, on behalf of the Funds named above |
| /s/ Xxxxx X. Dell |
| By: |
| Xxxxx X. Dell |
| Treasurer and Principal Financial Officer |
