LETTER AGREEMENT ARCHER DIVIDEND GROWTH FUND November 1, 2023
XXXXXX DIVIDEND GROWTH FUND
November 1, 2023
To:
Xxxxxx Investment Series Trust
00000 Xxxxx Xxxxxxx Xxxxxx #000
Carmel, IN 46032
You have engaged us to act as the sole Investment Advisor of the Xxxxxx Dividend Growth Fund (the "Fund") pursuant to a Management Services Agreement approved by the Board of Trustees on January 28, 2010 (the "Agreement") and amended on September 8, 2010, May 19, 2016, December 1, 2019 and May 12, 2020.
Effective immediately through December 31, 2026 we hereby agree to waive our management fee and/or reimburse expenses of the Fund, but only to the extent necessary to maintain the Fund's annual net operating expenses (excluding brokerage fees and commissions; any 12b-1 fees; borrowing costs, such as (a) interest and (b) dividend expenses on securities sold short; taxes; any indirect expenses, such as expenses incurred by other investment companies in which the Fund may invest; and extraordinary expenses) at .98% of the Fund's daily net assets. Any waiver or reimbursement by us is subject to repayment by the Fund in the three (3) fiscal years following the fiscal year in which the particular waiver or reimbursement occurred; provided that the Fund is able to make the repayment without exceeding the .98% expense limitation.
Very truly yours,
XXXXXX INVESTMENT CORPORATION
By: /s/ Xxxx Xxxxxx
Xxxx Xxxxxx, Managing Director
ACCEPTANCE
The foregoing agreement is hereby accepted.
XXXXXX INVESTMENT SERIES TRUST
By: /s/ Xxxx Xxxxxx
Xxxx Xxxxxx, President
