September 26, 2002
Xx. Xxxxxxx X. Xxxxxxx, Chairman
Stonebridge Funds Trust
0000 Xxxxxxx Xxxx Xxxx, Xxxxx 0000
Xxx Xxxxxxx, Xxxxxxxxxx 00000
Re: Stonebridge Funds Trust (the "Trust")
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Dear Xx. Xxxxxxx:
By our execution of this letter agreement (the "Agreement"), Stonebridge Capital
Management ("Stonebridge Capital"), to improve the performance of the Trust's
portfolios, hereby waives a portion of the advisory fees it is entitled to
receive pursuant to Section 6 of the Investment Advisory Agreements, both dated
as of November 2, 1998 between the Trust and Stonebridge Capital, on behalf of
the Aggressive Growth and Growth Funds, as follows for the fiscal year ending
October 31, 2003:
CONTRACTUAL NET
ADVISORY ADVISORY ADVISORY
PORTFOLIO FEE FEE WAIVER FEE
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Aggressive Growth Fund 1.00% .50% .50%
Growth Fund .75% .25% .50%
Stonebridge Capital acknowledges that it will not be entitled to collect on or
make a claim for waived fees at any time in the future. Stonebridge Capital
agrees to continue such waivers for the portfolios through the end of the fiscal
year (October 31, 2003).
STONEBRIDGE CAPITAL MANAGEMENT
By: /s/ Xxxxx X. Xxxxxx
----------------------------
Name: Xxxxxx X. Xxxxxx
Title: Chief Financial Officer
Your signature below acknowledges Acceptance of this Agreement:
By: /s/ Xxxxxxx X. Xxxxxxx
----------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chairman,
Stonebridge Funds Trust
