VTL Associates, LLC One Commerce Square
Exhibit 99.d.1
VTL Associates, LLC
Xxx Xxxxxxxx Xxxxxx
0000 Xxxxxx Xxxxxx, Suite 2020
Philadelphia, PA 19103
July 30, 2009
Xxx Xxxxxxxx Xxxxxx
0000 Xxxxxx Xxxxxx, Suite 2020
Philadelphia, PA 19103
Re: Expense Limitations
Ladies and Gentlemen:
By our execution of this letter agreement (the “Agreement”), intending to be legally bound hereby, VTL Associates, LLC (the “Adviser”), agrees that, with respect to the funds listed on Schedule A hereto (each, a “Fund” and collectively, the “Funds”), which are series of the RevenueShares ETF Trust, the Adviser shall, from October 31, 2009 through October 31, 2011, waive all or a portion of its investment advisory fees and/or reimburse expenses (excluding any taxes, interest, brokerage fees, certain insurance costs and extraordinary expenses) in an aggregate amount equal to the amount by which a Fund’s total operating expenses (excluding any taxes, interest, brokerage fees, certain insurance costs and extraordinary expenses) exceeds the amount opposite such Fund’s name on Schedule A hereto (excluding any taxes, interest, brokerage fees, certain insurance costs and extraordinary expenses).
The Adviser acknowledges that it: (1) shall not be entitled to collect on, or make a claim for, waived fees at any time in the future; and (2) shall not be entitled to collect on, or make a claim for, reimbursed Fund expenses at any time in the future.
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VTL Associates, LLC |
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By: |
/s/ Xxxxxxx X. Xxxxx |
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Xxxxxxx X. Xxxxx |
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Chief Executive Officer |
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Date: July 30, 2009 |
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Your signature below acknowledges |
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acceptance of this Agreement: |
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By: |
/s/ Xxxxxxx X. Xxxxx |
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Xxxxxxx X. Xxxxx |
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President |
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Date: July 30, 2009 |
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SCHEDULE A
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Funds |
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Expense Limitation (as a |
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RevenueShares Large Cap Fund |
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0.49 |
% |
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RevenueShares Mid Cap Fund |
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0.54 |
% |
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RevenueShares Small Cap Fund |
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0.54 |
% |
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RevenueShares Consumer Discretionary Sector Fund |
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0.49 |
% |
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RevenueShares Consumer Staples Sector Fund |
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0.49 |
% |
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RevenueShares Energy Sector Fund |
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0.49 |
% |
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RevenueShares Financials Sector Fund |
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0.49 |
% |
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RevenueShares Health Care Sector Fund |
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0.49 |
% |
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RevenueShares Industrials Sector Fund |
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0.49 |
% |
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RevenueShares Information Technology Sector Fund |
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0.49 |
% |
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RevenueShares Materials Sector Fund |
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0.49 |
% |
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RevenueShares Utilities Sector Fund |
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0.49 |
% |
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RevenueShares Navellier Overall A-100 Fund |
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0.60 |
% |
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RevenueShares ADR Fund |
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0.49 |
% |
