Matson Money Letterhead] December 31, 2014

EXHIBIT (d) (51)

[Xxxxxx Money Letterhead]

December 31, 2014

Xxxxxxxxx Xxxx

President

The RBB Fund, Inc.

Bellevue Park Corporate Center

000 Xxxxxxxx Xxxxxxx

Wilmington, DE  19809

Re: The RBB Fund, Inc. - Xxxxxx Money, Inc., Xxxxxx Money U.S. Equity VI Portfolio, Xxxxxx Money International Equity VI Portfolio, and Xxxxxx Money Fixed Income VI Portfolio (the “Portfolios”)

Dear Xx. Xxxx:

By our execution of this letter agreement (this “Agreement”), intending to be legally bound hereby, Xxxxxx Money, Inc. (the “Adviser”) agrees that in order to maintain the established expense ratios of the Portfolios of The RBB Fund, Inc., the Adviser shall, until further notice, but in no event terminating before December 31, 2015, waive all or a portion of its investment advisory fees and/or reimburse expenses (other than brokerage commissions, extraordinary items, interest and taxes) in an aggregate amount equal to the amount by which each Portfolio’s total operating expenses (other than brokerage commissions, extraordinary items, interest and taxes) exceed a total operating expense ratio (other than brokerage commissions, extraordinary items, interest and taxes) of 1.13%, 1.35%, and 1.00% of the average daily net assets of the Xxxxxx Money, Inc. Xxxxxx Money U.S. Equity VI Portfolio, Xxxxxx Money International Equity VI Portfolio, and Xxxxxx Money Fixed Income VI Portfolio, respectively.

The Adviser acknowledges that (1) it shall not be entitled to collect on or make a claim for waived fees at any time in the future, and (2) it shall not be entitled to collect on or make a claim for reimbursed Fund expenses at any time in the future.

XXXXXX MONEY, INC.

By:

Name:

Title:

Your signature below acknowledges

acceptance of this Agreement:

By:

Xxxxxxxxx Xxxx

President

The RBB Fund, Inc.