AMENDED AND RESTATED EXPENSE WAIVER AND REIMBURSEMENT AGREEMENT
Exhibit (h)(xv)
AMENDED AND RESTATED EXPENSE WAIVER AND REIMBURSEMENT AGREEMENT
THIS AMENDED AND RESTATED EXPENSE WAIVER AND REIMBURSEMENT AGREEMENT (this “Agreement”) is made as of this 30th day of September, 2014, between The Arbitrage Funds, a Delaware trust (the “Trust”), and Water Island Capital, LLC, a Delaware limited liability company (hereinafter referred to as the “Adviser”).
WHEREAS, the Adviser has entered into an Investment Advisory Agreement with the Trust, as may be amended or modified from time to time (the “Advisory Agreement”), pursuant to which the Adviser has agreed to provide, or arrange for the provision of, investment advisory services to the Trust on behalf of the Trust’s series, The Arbitrage Event-Driven Fund (the “Fund”); and
WHEREAS, the Trust and the Adviser believe that capping the total expenses, excluding taxes, interest, dividends on short positions, brokerage commissions, acquired fund fees and expenses (as defined in Form N-1A under the Investment Company Act of 1940, as amended, or any successor form thereto) and other costs incurred in connection with the purchase or sale of portfolio securities, of shares of the Fund, will enable the Fund to target niches within the load and no-load product market and will benefit the Fund.
NOW, THEREFORE, the parties hereto do hereby agree as follows:
4. DURATION AND TERMINATION. This Agreement shall remain in effect until September 30, 2015, and shall continue in effect thereafter unless terminated by either of the parties hereto upon written notice to the other of not less than five days. This Agreement shall automatically terminate upon the termination of the Advisory Agreement.
5. This Agreement represents the entire agreement between the parties regarding its subject matter and supersedes the Amended and Restated Expense Reimbursement Agreement between the parties with respect to the Fund dated as of May 31, 2013.
THE ARBITRAGE FUNDS
|
|
WATER ISLAND CAPITAL, LLC
|
|
|||||
By /s/ Xxxx X. Xxxxxx
|
|
By /s/ Xxxx X. Xxxxxx
|
|
|||||
Name:
|
Xxxx X. Xxxxxx
|
|
Name:
|
Xxxx X. Xxxxxx
|
|
|||
Title:
|
President
|
|
Title:
|
President
|
|