First Amendment
To
Amended and Restated Expense Limitation Agreement
THIS FIRST AMENDMENT TO THE AMENDED AND RESTATED EXPENSE LIMITATION
AGREEMENT ("Amendment") for the XXXXXXX PARTNERS FIXED INCOME TRUST ("Fund") is
made and entered into this 12 day of December 2005, by and between XXXXXXX
PARTNERS, LLC (the "Advisor") and THE NOTTINGHAM INVESTMENT TRUST II (the
"Trust") on behalf of the XXXXXXX PARTNERS FIXED INCOME TRUST.
WITNESSETH:
WHEREAS, the Advisor and the Trust wish to amend that certain Amended and
Restated Expense Limitation Agreement ("Agreement") dated July 21, 2005 between
XXXXXXX Partners Limited, LLC and the Trust;
WHEREAS, the XXXXXXX Partners Limited, LLC has merged with and into the
Advisor;
WHEREAS, the change of advisor does not result in a change of actual
control or management and does not constitute an assignment for purposes of
Section 15(a)(4) of the Investment Company Act of 1940, as amended; and
WHEREAS, the Trust and Advisor wish to amend the Agreement to reflect the
change of advisor.
NOW THEREFORE, in consideration of the mutual covenants herein contained,
the parties hereto agree to amend and modify the Agreement effective December
__, 2005 as follows:
1. All references made to XXXXXXX Partners Limited, LLC shall now be replaced
by reference to the Advisor.
2. This First Amendment may be executed in one or more counterparts, each of
which when so executed will be deemed to be an original, but the
counterparts will together constitute one and the same instrument.
3. Except as expressly modified or amended by this First Amendment, all other
terms and provisions of the Agreement shall remain in full force and
effect.
4. The Advisor hereby accepts and unconditionally assumes the obligation to
perform and to comply with, and to be bound by, all of the covenants,
liabilities, representations, warranties and contractual obligations of
XXXXXXX Partners Limited, LLC under the Agreement, including, without
limitation, all such covenants, liabilities, representations, warranties
and contractual obligations that existed under the Agreement on or before
the date that XXXXXXX Partners Limited, LLC merged with and into the
Advisor, in the same manner and with the same force and effect as if the
Advisor had signed and executed the original version of the Agreement as
the investment advisor to the Trust.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
signed by their duly authorized officers effective as of the date indicated
above.
THE NOTTINGHAM INVESTMENT
TRUST II
By: /s/ Xxxx X. Xxxxxxx
_________________________________
Xxxx X. Xxxxxxx.
Chairman
XXXXXXX PARTNERS, LLC
By: /s/ Xxxx X. Xxxxx
_________________________________
Xxxx X. Xxxxx
CEO and Partner
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