Exhibit (h)(17)
Xxxxxxxx-Xxxxxxxxx Institutional Funds
000 Xxxx Xxxxxxxx, 00xx Xxxxx
Xxx Xxxxx, Xxxxxxxxxx 00000
To Whom It May Concern:
This will confirm our agreement pursuant to which Xxxxxxxx-Xxxxxxxxx Capital
Management (the "Adviser") will waive its fees and absorb other operating
expenses of various series of the Xxxxxxxx-Xxxxxxxxx Institutional Funds so that
total operating expenses, excluding taxes, interest, brokerage and the expenses
incurred from the creation and operation of the Mauritius entity, do not exceed
the percentages set forth on the following page through March 31, 2002. In
subsequent years, overall operating expenses for each series will not fall below
the applicable percentage limitation until the Adviser has been fully reimbursed
for fees foregone and expenses paid under this Agreement, as each series will
reimburse the Adviser in subsequent years when operating expenses (before
reimbursement) are less than the applicable percentage limitation.
XXXXXXXX-XXXXXXXXX CAPITAL MANAGEMENT
By:__________________________________________
Xxxxxxx X. Xxxxx, Xx.
Deputy General Counsel
Accepted and Agreed to this
18th day of May 2001
XXXXXXXX-XXXXXXXXX INSTITUTIONAL FUNDS
By:_______________________________________
Xxxxxxx X. Xxxxx, Xx.
Secretary
EXPENSE LIMITATIONS
Small Cap Growth Class I 1.25%
Class R 1.50%
Mid Cap Growth Class I 1.00%
Class R 1.25%
Large Cap Growth Class I 1.00%
Class R 1.25%
Value Class I 1.00%
Class R 1.25%
Emerging Countries Class I 1.65%
Class R 1.90%
International Core Growth Class I 1.40%
Class R 1.65%
High Quality Bond Class I 0.45%
Class R 0.70%
Mini Cap Growth Class I 1.56%
Global Technology Class I 1.40%
International Small Cap Class I 1.40%
Worldwide Growth Class I 1.35%
Latin America Class I 1.65%
Pacific Rim Class I 1.40%
Convertible Class I 1.00%
Global Blue Chip Class I 1.20%
Global Health Care Class I 1.40%
High Yield Bond Class I 0.75%
Class R 1.00%
International Structured Class I 1.25%
Small Cap Value Class I 1.30%
