PRINCIPAL FUNDS, INC. CONTRACTUAL FEE WAIVER AGREEMENT AGREEMENT made this 31st day of January, 2011 by and between Principal Funds, Inc. (the The Advisor has contractually agreed to limit the Fund’s expenses (excluding interest the Funds incur in...


       
PRINCIPAL FUNDS, INC.
 
CONTRACTUAL FEE WAIVER AGREEMENT
 
 
AGREEMENT made this 31st day of January, 2011 by and between Principal Funds, Inc. (the 
“Fund”) and Principal Management Corporation (the “Advisor”) (together, the “Parties”). 
 
The Advisor has contractually agreed to limit the Fund’s expenses (excluding interest the Funds 
incur in connection with investments they make) on certain share classes of certain of the Funds. 
The reductions and reimbursements are in amounts that maintain total operating expenses at or 
below certain limits. The limits are expressed as a percentage of average daily net assets 
attributable to each respective class on an annualized basis. The expenses borne by the Advisor 
are subject to reimbursement by the Funds through the Expiration Date, provided no 
reimbursement will be made if it would result in the Funds’ exceeding the total operating expense 
limits. The operating expense limits are as follows:     
 
Series Class Total Operating Expenses Date
Bond Market Index Fund  R-1  1.18%  12/31/2011 
  R-2  1.05%  12/31/2011 
  R-3  0.87%  12/31/2011 
  R-4  0.68%  12/31/2011 
  R-5  0.56%  12/31/2011 
  I  0.30%  12/31/2011 
Bond & Mortgage Securities Fund  A  0.94%  02/29/2012 
  B  1.60%  02/29/2012 
  C  1.75%  02/29/2012 
California Municipal Fund  B  1.82%  02/29/2012 
Disciplined LargeCap Blend Fund  C  1.82%  02/29/2012 
  B  2.20%  02/29/2012 
Diversified International Fund  C  2.08%  02/29/2012 
  B  2.47%  02/29/2012 
Diversified Real Asset Fund  A  1.25%  12/31/2012 
  C  2.00%  12/31/2012 
  I  0.95%  12/31/2012 
Equity Income Fund  B  1.97%  02/29/2012 
Global Diversified Income Fund  A  1.25%  02/29/2012 
  C  2.00%  02/29/2012 
  J  1.40%  02/29/2012 
  I  0.90%  02/29/2012 
Global Real Estate Securities Fund  A  1.45%  02/29/2012 
  C  2.20%  02/29/2012 
  I  0.95%  02/29/2012 
Government & High Quality Bond Fund  A  0.88%  02/29/2012 
  B  1.65%  02/29/2012 
  C  1.63%  02/29/2012 
  J  1.00%  02/29/2012 
  R-1  1.29%  02/29/2012 
  R-2  1.16%  02/29/2012 
  R-3  0.98%  02/29/2012 
  R-4  0.79%  02/29/2012 
  R-5  0.67%  02/29/2012 

 


       
Series Class Total Operating Expenses Date
High Yield Fund  B  1.92%  02/29/2012 
Income Fund  J  1.10%  02/29/2012 
  B  1.90%  02/29/2012 
Inflation Protection Fund  A  0.90%  02/29/2012 
  C  1.65%  02/29/2012 
  J  1.15%  02/29/2012 
International Emerging Markets Fund  C  2.80%  02/29/2012 
  B  2.78%  02/29/2012 
International Equity Index Fund  R-1  1.28%  12/31/2011 
  R-2  1.15%  12/31/2011 
  R-3  0.97%  12/31/2011 
  R-4  0.78%  12/31/2011 
  R-5  0.66%  12/31/2011 
  I  0.40%  12/31/2011 
International Growth Fund  A  1.54%  02/29/2012 
  C  2.35%  02/29/2012 
International Value Fund I  I  1.10%  02/29/2012 
LargeCap Growth Fund  B  2.25%  02/29/2012 
LargeCap S&P 500 Index Fund  C  1.30%  02/29/2012 
  A  0.70%  02/29/2012 
LargeCap Value Fund  C  1.70%  02/29/2012 
  B  2.00%  02/29/2012 
MidCap Blend Fund  A  0.01%  02/28/2011 
  B  0.05%  02/28/2011 
  C  1.95%  02/29/2012 
MidCap Value Fund I  J  1.73%  02/29/2012 
MidCap Value Fund III  I  0.70%  02/29/2012 
Money Market Fund  C  1.79%  02/29/2012 
  B  1.55%  02/29/2012 
Principal Capital Appreciation Fund  B  1.99%  02/29/2012 
Principal LifeTime 2010 Fund  A  0.41%  02/29/2012 
Principal LifeTime 2015 Fund  I  0.08%  02/29/2012 
Principal LifeTime 2020 Fund  A  0.41%  02/29/2012 
  B  1.16%  02/29/2012 
Principal LifeTime 2025 Fund  I  0.08%  02/29/2012 
Principal LifeTime 2030 Fund  A  0.41%  02/29/2012 
  B  1.16%  02/29/2012 
Principal LifeTime 2035 Fund  I  0.08%  02/29/2012 
Principal LifeTime 2040 Fund  A  0.41%  02/29/2012 
  B  1.16%  02/29/2012 
Principal LifeTime 2045 Fund  I  0.08%  02/29/2012 
  R-1  0.96%  02/28/2011 
  R-2  0.83%  02/28/2011 
  R-3  0.65%  02/28/2011 
  R-4  0.46%  02/28/2011 
  R-5  0.34%  02/28/2011 
Principal LifeTime 2050 Fund  A  0.41%  02/29/2012 
  B  1.16%  02/29/2012 

 


       
Series Class Total Operating Expenses Date
Principal LifeTime 2055 Fund  I  0.08%  02/29/2012 
  R-1  0.96%  02/29/2012 
  R-2  0.83%  02/29/2012 
  R-3  0.65%  02/29/2012 
  R-4  0.46%  02/29/2012 
  R-5  0.34%  02/29/2012 
Principal LifeTime Strategic Income Fund  A  0.41%  02/29/2012 
  B  1.16%  02/29/2012 
Real Estate Securities Fund  A  1.45%  02/29/2012 
  B  2.20%  02/29/2012 
  C  2.20%  02/29/2012 
XXX Balanced Portfolio  J  0.95%  02/29/2012 
  B  1.70%  02/28/2012 
XXX Conservative Balanced Portfolio  J  0.95%  02/29/2012 
  B  1.69%  02/28/2012 
XXX Conservative Growth Portfolio  J  0.95%  02/29/2012 
  B  1.71%  02/28/2012 
XXX Flexible Income Portfolio  J  0.95%  02/29/2012 
  B  1.69%  02/28/2012 
XXX Strategic Growth Portfolio  J  0.95%  02/29/2012 
  B  1.75%  02/28/2012 
Short-Term Income Fund  A  0.95%  02/29/2012 
  C  1.67%  02/29/2012 
  J  1.07%  02/29/2012 
  R-1  1.30%  02/29/2012 
  R-2  1.18%  02/29/2012 
  R-3  0.99%  02/29/2012 
  R-4  0.79%  02/29/2012 
  R-5  0.68%  02/29/2012 
SmallCap Blend Fund  A  1.63%  02/29/2012 
  B  2.38%  02/29/2012 
  C  2.20%  02/29/2012 
SmallCap Growth Fund  A  1.58%  02/29/2012 
  B  2.33%  02/29/2012 
  C  2.21%  02/29/2012 
SmallCap Growth Fund II  J  1.58%  02/29/2012 
SmallCap Value Fund  A  1.35%  02/29/2012 
  B  2.29%  02/29/2012 
  C  2.08%  02/29/2012 
  I  0.80%  02/29/2012 
SmallCap Value Fund II  J  1.926%  02/29/2012 
Tax-Exempt Bond Fund I  A  0.85%  02/29/2012 
  B  1.60%  02/29/2012 
  C  1.60%  02/29/2012 
 
The Advisor has contractually agreed to waive a portion of the management fee it receives from 
certain Funds through the Date of Expiration. The waiver is expressed as a percentage of average 
daily net assets. The management fee waivers are as follows:   
 
Series  Waiver  Date   
International Fund I  0.026%  02/29/2012 

 


       
       
Series Waiver Date  
International Value Fund I  0.03%  02/29/2012   
LargeCap Blend Fund II  0.018%  02/29/2012   
LargeCap Growth Fund I  0.016%  02/29/2012   
LargeCap Growth Fund II  0.014%  02/29/2012   
LargeCap Value Fund I  0.014%  02/29/2012   
LargeCap Value Fund III  0.012%  02/29/2012   
MidCap Growth Fund III  0.022%  02/29/2012   
MidCap Value Fund I  0.02%  02/29/2012   
MidCap Value Fund III  0.014%  02/29/2012   
SmallCap Growth Fund I  0.022%  02/29/2012   
SmallCap Growth Fund II  0.02%  02/29/2012   
SmallCap Value Fund I  0.02%  02/29/2012   
SmallCap Value Fund II  0.024%  02/29/2012   

 

   
The Agreement embodies the entire agreement of the Parties relating to the subject matter hereof. 
This Agreement supersedes all prior agreement and understandings, and all rights and obligations 
thereunder are hereby cancelled and terminated. No amendment or modification of this 
Agreement will be valid or binding unless it is in writing by the Parties 
 
IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed as of 
the day and year first written above.   
 
 
PRINCIPAL FUNDS, INC.  PRINCIPAL MANAGEMENT CORPORATION 
 
 
            /s/ Xxxx Xxxxxxx                                                                                          /s/ Xxxx Xxxx
By: __________________________________________ By: __________________________________________
     Xxxx Xxxxxxx, CEO and President        Xxxx Xxxx, Executive Vice President 

 

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Filed: October 12th, 2011
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