Exhibit (d)(ix)
July 9, 2004
Xxxxxxx X. Xxxx,
President and Chief Executive Officer,
Schwab Capital Trust and Schwab Investments
000 Xxxxxxxxxx Xxxxxx
Xxx Xxxxxxxxx, XX 00000
Re: The Xxxxxxx Xxxxxx Family of Funds
Dear Xx. Xxxx:
This letter will confirm our agreement to limit net operating expenses of the
following funds, as noted in the table below and described in the funds'
registration statements filed with the Securities and Exchange Commission.
We also confirm that for a period of 90-days from each fund's respective
commencement of operations, we agree to waive fees and reimburse expenses, if
necessary, so that the funds' net 7-day yields are greater than the net 7-day
yield of the Schwab Money Market Fund, as described in the funds' registration
statements filed with the Securities and Exchange Commission.
NET OPERATING
FUND EXPENSE LIMIT GUARANTEED THROUGH
SCHWAB CASH RESERVES 0.69% 4/29/06
SCHWAB ADVISOR
CASH RESERVES -
SWEEP SHARE 0.69% 4/29/06
SCHWAB ADVISOR
CASH RESERVES -
PREMIER SWEEP SHARES 0.59% 4/29/06
Sincerely,
/s/ Xxxxxxx X. Xxxx /s/ Xxxxxx Xxxxxxxx
------------------- -------------------
Xxxxxxx X. Xxxx, Xxxxxx Xxxxxxxx,
Senior Vice President and Chief Senior Vice President, AMPS Development
Investment Xxxxxxx, Xxxxxxx Xxxxxx and Distribution Xxxxxxx Xxxxxx & Co., Inc.
Investment Management, Inc.
cc: Xxxxxx, Xxxx
Xxxxx, Mini
Xxxxxxxxxx, Xxxxxxx
Xxxxxx, Xxx
Xxxxxxx, Xxxxxxx
Xxxxxx, Xxxx
Xxxxxx, Xxxxxx
Xxxx, Xxx-Xxxx
