FORM OF EXPENSE LIMITATION AGREEMENT
Exhibit H(10)
FORM OF
This EXPENSE LIMITATION AGREEMENT (the “Agreement”) is between Massachusetts Mutual Life Insurance Company, a Massachusetts corporation (the “Manager”), and MassMutual Select Funds, a Massachusetts business trust (the “Trust”), effective as of the 1st day of April, 2011.
WHEREAS, the Trust is an open-end diversified management investment company registered as such with the Securities and Exchange Commission pursuant to the Investment Company Act of 1940, as amended;
WHEREAS, MassMutual Select BlackRock Global Allocation Fund, MassMutual Select Indexed Equity Fund, MassMutual Select Blue Chip Growth Fund, MassMutual Select Diversified International Fund, MassMutual Select Destination Retirement 2015 Fund, MassMutual Select Destination Retirement 2025 Fund, MassMutual Select Destination Retirement 2035 Fund, MassMutual Select Destination Retirement 2045 Fund, and MassMutual Select Destination Retirement 2050 Fund (the “Funds”) are each a series of the Trust;
WHEREAS, the Manager is an investment adviser registered with the Commission as such under the Investment Advisers Act of 1940, as amended; and
WHEREAS, the Trust has appointed the Manager as its investment manager for the Funds and the Manager has agreed to act in such capacity upon the terms set forth in the relevant Investment Management Agreements;
NOW THEREFORE, the Trust and the Manager hereby agree as follows:
1. | Expense Limitation |
The Manager agrees to: (i) waive administrative and shareholder service fees, or (ii) cap the fees and expenses of each Fund (other than extraordinary litigation and legal expenses, short sale dividend and loan expense, Acquired Fund fees and expenses, or other non-recurring or unusual expenses such as, for example, organizational expenses and shareholder meeting expenses) through March 31, 2012 at the following amounts. This agreement can only be terminated by mutual consent of the Board of Trustees of the Trust on behalf of the Funds and the Manager.
MassMutual Select BlackRock Global Allocation Fund | ||
Expense Cap | ||
Class S shares |
.86% | |
Class Y shares |
.96% | |
Class L shares |
1.11% | |
Class A shares |
1.36% | |
Class N shares |
1.66% | |
MassMutual Select Indexed Equity Fund | ||
Waiver | ||
Class N shares |
.20% | |
Class A shares |
.20% | |
Class L shares |
.20% |
MassMutual Select Blue Chip Growth Fund | ||
Expense Cap | ||
Class S shares |
0.76% | |
Class Y shares |
0.82% | |
Class L shares |
0.98% | |
Class A shares |
1.19% | |
Class N shares |
1.51% | |
MassMutual Select Diversified International Fund | ||
Expense Cap | ||
Class S shares |
0.99% | |
Class Y shares |
1.09% | |
Class L shares |
1.17% | |
Class A shares |
1.42% | |
Class N shares |
1.72% | |
MassMutual Select Destination Retirement 2015 Fund | ||
Expense Cap | ||
Class S shares |
.10% | |
Class Y shares |
.15% | |
Class L shares |
.25% | |
Class A shares |
.50% | |
Class N shares |
.80% | |
MassMutual Select Destination Retirement 2025 Fund | ||
Expense Cap | ||
Class S shares |
.10% | |
Class Y shares |
.15% | |
Class L shares |
.25% | |
Class A shares |
.50% | |
Class N shares |
.80% | |
MassMutual Select Destination Retirement 2035 Fund | ||
Expense Cap | ||
Class S shares |
.10% | |
Class Y shares |
.15% | |
Class L shares |
.25% | |
Class A shares |
.50% | |
Class N shares |
.80% |
MassMutual Select Destination Retirement 2045 Fund | ||
Expense Cap | ||
Class S shares |
.10% | |
Class Y shares |
.15% | |
Class L shares |
.25% | |
Class A shares |
.50% | |
Class N shares |
.80% | |
MassMutual Select Destination Retirement 2050 Fund | ||
Expense Cap | ||
Class S shares |
.10% | |
Class Y shares |
.15% | |
Class L shares |
.25% | |
Class A shares |
.50% | |
Class N shares |
.80% |
IN WITNESS WHEREOF, the Trust and the Manager have caused this Agreement to be executed on the 31st day of March, 2011.
MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY | ||
By: |
| |
Xxxx Xxxxxxx, Senior Vice President |
on behalf of each of the Funds | ||
By: |
| |
Xxxxxxxx X. Xxxxxxxxx, CFO and Treasurer |