Exhibit (d)(ix)
EXPENSE LIMITATION AGREEMENT
This EXPENSE LIMITATION AGREEMENT is made as of the 1st day of January,
2003 by and between DEUTSCHE INVESTORS FUNDS, INC., a Maryland Corporation (the
"Corporation") on behalf of GLOBAL BIOTECHNOLOGY FUND, (the "Fund"), and
INVESTMENT COMPANY CAPITAL CORP., a Maryland corporation ("ICCC"), with respect
to the following:
WHEREAS, ICCC serves as the Fund's Investment Advisor (the "Advisor")
pursuant to an Investment Advisory Agreement dated March 28, 2001, and the
Fund's Administrator pursuant to a Master Services Agreement dated September 1,
2000, as amended through September 3, 2002, (collectively, the "Agreements").
NOW, in consideration of the mutual covenants herein contained and
other good and valuable consideration, the receipt whereof is hereby
acknowledged, the parties hereto agree as follows:
1. ICCC, in its capacity as the Fund's Advisor and Fund's
Administrator, agrees to waive its fees and/ or reimburse
expenses to the extent necessary so that the ordinary annual
operating expenses for each of the classes set forth on
Exhibit A, as may be amended from time to time, do not exceed
the percentage of average daily net assets set forth on
Exhibit A for the period January 1, 2003 through December 31,
2003. For the purposes of this Agreement, ordinary operating
expenses for a Fund generally consist of costs not
specifically borne by the Advisor, Administrator or a Fund's
principal underwriter, including investment advisory fees,
administration and services fees, fees for necessary
professional services, amortization of organizational expenses
and costs associated with regulatory compliance and
maintaining legal existence and shareholder relations, but
excluding: (a) transactions costs (such as brokerage
commissions and dealer and underwriter spreads); (b) interest
charges on fund borrowings; (c) taxes; (d) litigation and
indemnification costs; and (e) extraordinary expenses.
Extraordinary expenses are those that are unusual or expected
to recur only infrequently, including, but not limited to (i)
expenses of the reorganization, restructuring or merger of a
Fund or class or the acquisition of all or substantially all
of the assets of another fund or class; (ii) expenses of
holding, and soliciting proxies for, a meeting of shareholders
of a Fund or class (except to the extent relating to routine
items such as the election of trustees or the approval of
independent public accountants); and (iii) expenses of
converting to a new custodian, transfer agent or other service
provider.
2. This Agreement shall be effective as to the Fund as of the
date the Fund commence operations after this Agreement shall
have been approved by the Board of Directors of the
Corporation with respect to the Fund and, unless sooner
terminated as provided herein, shall continue in effect as to
the Fund for the stated period and may be extended for another
period, provided such continuance is specifically approved at
least annually by the vote of a majority of the Board of
Directors of the Corporation. Upon the termination of any of
the Agreements, this Agreement shall automatically terminate
with respect to the Fund.
3. Any question of interpretation of any term or provision of
this Agreement having a counterpart in or otherwise derived
from a term or provision of the Investment Company Act of
1940, as amended (the "1940 Act") shall be resolved by
reference to such term or provision of the 1940 Act and to
interpretations thereof, if any, by the United States Courts
or in the absence of any controlling decision of any such
court, by rules, regulations or orders of the Securities and
Exchange Commission ("SEC") issued pursuant to said Act. In
addition, where the effect of a requirement of the 1940 Act
reflected in any provision of this Agreement is revised by
rule, regulation or order of the SEC, such provision shall be
deemed to incorporate the effect of such rule, regulation or
order. Otherwise the provisions of this Agreement shall be
interpreted in accordance with the laws of Maryland.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed in duplicate by their respective officers as of the day and year first
above written.
DEUTSCHE INVESTORS FUNDS, INC.
On behalf of Global Biotechnology Fund
By: /s/ Xxxxx X. Xxxxxxxxx
--------------------------
Name: Xxxxx X. Xxxxxxxxx
Title: Assistant Secretary
INVESTMENT COMPANY CAPITAL CORP.
By: /s/ Xxxxxxx X. Xxxxxxxxx
--------------------------
Name: Xxxxxxx X. Xxxxxxxxx
Title: Assistant Secretary
Exhibit A
Ordinary Fund Operating
Expenses
Fund (as a percentage of average
daily net assets)
Global Biotechnology Fund - Class A Shares 1.50%
Global Biotechnology Fund - Class B Shares 2.25%
Global Biotechnology Fund - Class C Shares 2.25%
