Letter Agreement April 29, 2018
Energy Income Partners, LLC
Letter Agreement
April 29, 2018
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To:
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Board of Trustees
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00 Xxxxxx Xxxxxx
Westport, CT 06880
Dear Sirs:
You have engaged us to act as the sole investment advisor to the EIP Growth and Income Fund (the "Fund"), a series of the EIP Investment Trust, a Delaware statutory trust, pursuant to a Management Agreement approved by the Board of Trustees.
Effective April 29, 2018, we hereby agree to waive our management fee and/or reimburse expenses so that the Fund's total annual operating expenses, excluding: brokerage fees and commissions; borrowing costs (such as (i) interest and (ii) dividend expenses on securities sold short); taxes; any 12b-l fees or fees paid pursuant to an Administrative Services Plan; any indirect expenses such as acquired fund fees and expenses; and extraordinary expenses do not exceed 1.25% of the Fund's average daily net assets through April 29, 2019 . We understand that we may not terminate this Agreement prior to such date, except that we may voluntarily agree to lower the expense cap below 1.25%.
Any waiver or reimbursement by us is subject to repayment by the Fund in the three years following the date the particular waiver or reimbursement is due: provided that the Fund is able to make the repayment without exceeding the 1.25% expense limitation.
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Very truly yours,
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Energy Income Partners, LLC
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By: /s/ Xxx Xxx
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Name: Xxx Xxx
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Title: Partner
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Acceptance
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The foregoing Agreement is hereby accepted.
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By: /s/ Xxxxx Xxxxxxxxx
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Name: Xxxxx Xxxxxxxxx
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Title: Principal Accounting Officer
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