SCHEDULE A WELLS CAPITAL MANAGEMENT INCORPORATED INVESTMENT SUB-ADVISORY AGREEMENT FEE AGREEMENT WELLS FARGO FUNDS TRUST
SCHEDULE A
XXXXX CAPITAL MANAGEMENT INCORPORATED
INVESTMENT SUB-ADVISORY AGREEMENT
FEE AGREEMENT
XXXXX FARGO FUNDS TRUST
This fee agreement is made as of the 27th day of March, 2009, and is amended as of the 28th day of May, 2020, by and between Xxxxx Fargo Funds Management, LLC (the “Adviser”) and Xxxxx Capital Management Incorporated (the “Sub-Adviser”); and
WHEREAS, the parties and Xxxxx Fargo Funds Trust (the “Trust”) have entered into an Investment Sub-Advisory Agreement (“Sub-Advisory Agreement”) whereby the Sub-Adviser provides investment management advice to each series of the Trust as listed in Appendix A to the Sub-Advisory Agreement (each a “Fund” and collectively the “Funds”).
WHEREAS, the Sub-Advisory Agreement provides that the fees to be paid to the Sub-Adviser are to be as agreed upon in writing by the parties.
NOW THEREFORE, the parties agree that the fees to be paid to the Sub-Adviser under the Sub-Advisory Agreement shall be calculated as follows on a monthly basis by applying the annual rates described in this Schedule A to Appendix A for each Fund listed in Appendix A.
The Sub-Adviser shall receive a fee as described in this Schedule A to Appendix A of the assets of the Growth Balanced Fund and Moderate Balanced Fund and from each WealthBuilder Fund for providing services with respect to which Master Trust Portfolios (or, in the case of the WealthBuilder Funds, other unaffiliated funds) these Funds will invest in and the percentage to allocate to each Master Portfolio or unaffiliated fund in reliance on Section 12(d)(1)(G) under the Act, the rules thereunder, or order issued by the Commission exempting the Fund from the provisions of Section 12(d)(1)(A) under the Act (a “Fund of Funds structure”).
The net assets under management against which the foregoing fees are to be applied are the net assets as of the first business day of the month. If this fee agreement becomes effective subsequent to the first day of a month or shall terminate before the last day of a month, compensation for that part of the month this agreement is in effect shall be subject to a pro rata adjustment based on the number of days elapsed in the current month as a percentage of the total number of days in such month. If the determination of the net asset value is suspended as of the first business day of the month, the net asset value for the last day prior to such suspension shall for this purpose be deemed to be the net asset value on the first business day of the month.
SCHEDULE A
XXXXX CAPITAL MANAGEMENT INCORPORATED
INVESTMENT SUB-ADVISORY AGREEMENT
FEE AGREEMENT
XXXXX FARGO FUNDS TRUST
|
Funds Trust Funds |
Fee as % of Avg. Daily Net Assets |
||
|
Adjustable Rate Government Fund |
First 100M Next 200M Next 200M Over 500M |
0.20 0.175 0.15 0.10 |
|
|
Alternative Risk Premia Fund1 |
First 100M Next 200M Next 200M Over 500M |
0.20 0.175 0.15 0.10 |
|
|
Asset Allocation Fund |
First 250M Over 250M |
0.10 0.05 |
|
|
California Limited-Term Tax-Free Fund |
First 100M Next 200M Over 300M |
0.15 0.10 0.05 |
|
|
California Tax-Free Fund |
First 100M Next 200M Next 200M Over 500M |
0.20 0.175 0.15 0.10 |
|
|
Cash Investment Money Market Fund |
First 1B Next 2B Next 3B Over 6B |
0.05 0.03 0.02 0.01 |
|
|
Classic Value Fund |
First 250M Next 2B Over 4.5B |
0.35 0.325 0.30 0.275 0.25 |
|
|
Common Stock Fund |
First 100M Next 100M Over 200M |
0.45 0.40 0.30 |
|
|
Conservative Income Fund |
First 100M Next 200M Over 300M |
0.10 0.08 0.05 |
|
|
Core Plus Bond Fund |
First 100M Next 200M Next 200M Over 500M |
0.20 0.175 0.15 0.10 |
|
|
Disciplined Small Cap Fund |
First 100M Next 200M Over 300M |
0.35 0.30 0.25 |
|
|
Disciplined U.S. Core Fund |
First 100M Next 200M Over 300M |
0.25 0.20 0.15 |
|
|
Discovery Fund |
First 100M Next 100M Over 200M |
0.45 0.40 0.35 |
|
|
Diversified Capital Builder Fund |
First 100M Next 200M Next 200M Over 500M |
0.35 0.30 0.25 0.20 |
|
|
Diversified Income Builder Fund |
First 100M Next 200M Next 200M Over 500M |
0.35 0.30 0.25 0.20 |
|
|
Diversified International Fund2 |
First 200M Over 200M |
0.45 0.40 |
|
|
Dynamic Target Today Fund |
First 200M Next 300M Over 500M |
0.10 0.08 0.06 |
|
|
Dynamic Target 2015 Fund |
First 200M Next 300M Over 500M |
0.10 0.08 0.06 |
|
|
Dynamic Target 2020 Fund |
First 200M Next 300M Over 500M |
0.10 0.08 0.06 |
|
|
Dynamic Target 2025 Fund |
First 200M Next 300M Over 500M |
0.10 0.08 0.06 |
|
|
Dynamic Target 2030 Fund |
First 200M Next 300M Over 500M |
0.10 0.08 0.06 |
|
|
Dynamic Target 2035 Fund |
First 200M Next 300M Over 500M |
0.10 0.08 0.06 |
|
|
Dynamic Target 2040 Fund |
First 200M Next 300M Over 500M |
0.10 0.08 0.06 |
|
|
Dynamic Target 2045 Fund |
First 200M Next 300M Over 500M |
0.10 0.08 0.06 |
|
|
Dynamic Target 2050 Fund |
First 200M Next 300M Over 500M |
0.10 0.08 0.06 |
|
|
Dynamic Target 2055 Fund |
First 200M Next 300M Over 500M |
0.10 0.08 0.06 |
|
|
Dynamic Target 2060 Fund |
First 200M Next 300M Over 500M |
0.10 0.08 0.06 |
|
|
Emerging Markets Equity Fund |
First 100M Next 100M Over 200M |
0.65 0.55 0.45 |
|
|
Emerging Markets Equity Income Fund |
First 100M Next 100M Over 200M |
0.65 0.55 0.45 |
|
|
Endeavor Select Fund |
First 100M Next 200M Next 500M Over 800M |
0.30 0.275 0.25 0.20 |
|
|
Enterprise Fund |
First 100M Next 100M Over 200M |
0.45 0.40 0.30 |
|
|
Fundamental Small Cap Growth Fund |
First 100M Next 100M Over 200M |
0.55 0.50 0.40 |
|
|
Global Investment Grade Credit Fund |
First 100M Next 200M Next 200M Over 500M |
0.10 0.0875 0.075 0.050 |
|
|
Global Small Cap Fund |
First 100M Next 100M Over 200M |
0.55 0.50 0.40 |
|
|
Government Money Market Fund |
First 1B Next 2B Next 3B Over 6B |
0.05 0.03 0.02 0.01 |
|
|
Government Securities Fund |
First 100M Next 200M Next 200M Over 500M |
0.20 0.175 0.15 0.10 |
|
|
Growth Balanced Fund |
First 250M Over 250M |
0.10 0.05 |
|
|
Growth Fund |
First 100M Next 100M Next 300M Over 500M |
0.45 0.40 0.35 0.30 |
|
|
Heritage Money Market Fund |
First 1B Next 2B Next 3B Over 6B |
0.05 0.03 0.02 0.01 |
|
|
High Yield Bond Fund |
First 100M Next 200M Next 200M Over 500M |
0.35 0.30 0.25 0.20 |
|
|
High Yield Corporate Bond Fund |
0.00 |
||
|
High Yield Municipal Bond Fund |
First 100M Next 200M Next 200M Over 500M |
0.35 0.30 0.25 0.20 |
|
|
Index Asset Allocation Fund |
First 100M Next 100M Over 200M |
0.15 0.125 0.10 |
|
|
Intermediate Tax/AMT-Free Fund |
First 100M Next 200M Next 200M Over 500M |
0.20 0.175 0.15 0.10 |
|
|
International Equity Fund |
First 200M Over 200M |
0.45 0.40 |
|
|
Intrinsic Small Cap Value Fund |
First 100M Next 100M Over 200M |
0.55 0.50 0.40 |
|
|
Intrinsic World Equity Fund |
First 250M Next 750M Over 1B |
0.35 0.275 0.20 |
|
|
Large Cap Core Fund |
First 1B Over 1B |
0.35 0.30 |
|
|
Large Cap Growth Fund |
First 100M Next 200M Next 500M Over 800M |
0.30 0.275 0.25 0.20 |
|
|
Large Company Value Fund |
First 100M Next 200M Over 300M |
0.25 0.20 0.15 |
|
|
Low Volatility U.S. Equity Fund |
First 750M Over 750M |
0.20 0.12 |
|
|
Managed Account CoreBuilder Shares – Series M |
0.00 |
||
|
Managed Account CoreBuilder Shares – Series SM3 |
0.00 |
||
|
Minnesota Tax-Free Fund |
First 100M Next 200M Next 200M Over 500M |
0.20 0.175 0.15 0.10 |
|
|
Moderate Balanced Fund |
First 250M Over 250M |
0.10 0.05 |
|
|
Money Market Fund |
First 1B Next 2B Next 3B Over 6B |
0.05 0.03 0.02 0.01 |
|
|
Municipal Bond Fund |
First 100M Next 200M Next 200M Over 500M |
0.20 0.175 0.15 0.10 |
|
|
Municipal Cash Management Money Market Fund |
First 1B Next 2B Next 3B Over 6B |
0.05 0.03 0.02 0.01 |
|
|
Municipal Sustainability Fund |
First 100M Next 200M Next 200M Over 500M |
0.20 0.175 0.15 0.10 |
|
|
National Tax-Free Money Market Fund |
First 1B Next 2B Next 3B Over 6B |
0.05 0.03 0.02 0.01 |
|
|
Omega Growth Fund |
First 100M Next 100M Next 300M Over 500M |
0.45 0.40 0.35 0.30 |
|
|
Opportunity Fund |
First 100M Next 100M Next 300M Over 500M |
0.45 0.40 0.35 0.30 |
|
|
Pennsylvania Tax-Free Fund |
First 100M Next 200M Next 200M Over 500M |
0.20 0.175 0.15 0.10 |
|
|
Precious Metals Fund |
First 100M Next 100M Over 200M |
0.40 0.35 0.30 |
|
|
Premier Large Company Growth Fund |
First 100M Next 100M Next 300M Over 500M |
0.35 0.325 0.30 0.275 |
|
|
Short Duration Government Bond Fund |
First 100M Next 200M Over 300M |
0.15 0.10 0.05 |
|
|
Short-Term Bond Fund4 |
First 100M Next 200M Over 300M |
0.15 0.10 0.05 |
|
|
Short-Term High Yield Bond Fund |
First 100M Next 200M Next 200M Over 500M |
0.35 0.30 0.25 0.20 |
|
|
Short-Term Municipal Bond Fund |
First 100M Next 200M Over 300M |
0.15 0.10 0.05 |
|
|
Special International Small Cap Fund |
First 100M Next 100M Over 200M |
0.55 0.50 0.40 |
|
|
Special Mid Cap Value Fund |
First 100M Next 100M Over 200M |
0.45 0.40 0.30 |
|
|
Special Small Cap Value Fund |
First 100M Next 100M Over 200M |
0.55 0.50 0.40 |
|
|
Strategic Income Fund5,6 |
First 100M Next 200M Next 200M Over 500M |
0.30 0.25 0.20 0.15 |
|
|
Strategic Municipal Bond Fund |
First 100M Next 200M Next 200M Over 500M |
0.20 0.175 0.15 0.10 |
|
|
Target Today Fund |
First 200M Next 300M Over 500M |
0.05 0.04 0.03 |
|
|
Target 2010 Fund |
First 200M Next 300M Over 500M |
0.05 0.04 0.03 |
|
|
Target 2015 Fund |
First 200M Next 300M Over 500M |
0.05 0.04 0.03 |
|
|
Target 2020 Fund |
First 200M Next 300M Over 500M |
0.05 0.04 0.03 |
|
|
Target 2025 Fund |
First 200M Next 300M Over 500M |
0.05 0.04 0.03 |
|
|
Target 2030 Fund |
First 200M Next 300M Over 500M |
0.05 0.04 0.03 |
|
|
Target 2035 Fund |
First 200M Next 300M Over 500M |
0.05 0.04 0.03 |
|
|
Target 2040 Fund |
First 200M Next 300M Over 500M |
0.05 0.04 0.03 |
|
|
Target 2045 Fund |
First 200M Next 300M Over 500M |
0.05 0.04 0.03 |
|
|
Target 2050 Fund |
First 200M Next 300M Over 500M |
0.05 0.04 0.03 |
|
|
Target 2055 Fund |
First 200M Next 300M Over 500M |
0.05 0.04 0.03 |
|
|
Target 2060 Fund |
First 200M Next 300M Over 500M |
0.05 0.04 0.03 |
|
|
Treasury Plus Money Market Fund |
First 1B Next 2B Next 3B Over 6B |
0.05 0.03 0.02 0.01 |
|
|
Ultra Short-Term Income Fund |
First 100M Next 200M Over 300M |
0.15 0.10 0.05 |
|
|
Ultra Short-Term Municipal Income Fund |
First 100M Next 200M Over 300M |
0.15 0.10 0.05 |
|
|
U.S. Core Bond Fund |
0.00 |
||
|
Utility and Telecommunication Fund |
First 100M Next 200M Next 500M Over 800M |
0.30 0.275 0.25 0.20 |
|
|
WealthBuilder Conservative Allocation Fund |
0.15 |
||
|
WealthBuilder Equity Fund |
0.15 |
||
|
WealthBuilder Growth Allocation Fund |
0.15 |
||
|
WealthBuilder Growth Balanced Fund |
0.15 |
||
|
WealthBuilder Moderate Balanced Fund |
0.15 |
||
|
Wisconsin Tax-Free Fund |
First 100M Next 200M Next 200M Over 500M |
0.20 0.175 0.15 0.10 |
|
|
100% Treasury Money Market Fund |
First 1B Next 2B Next 3B Over 6B |
0.05 0.03 0.02 0.01 |
|
Schedule A amended: May 28, 2020
1. For portfolio management services, Xxxxx Capital Management (“WCM”) would receive this fee on the entirety of the Fund’s portfolio, covering both the assets in the sleeve managed solely by WCM and the assets in the sleeve that will be
co-managed with Xxxxx Fargo Asset Management (International), Limited (“WFAMI Ltd”). WCM’s services will not be duplicative of those to be provided by WFAMI Ltd.
2. The Fee is paid to 33.33% of the allocated sleeve of the Fund’s assets under management.
3. On May 28, 2020 the Board of Trustees of Xxxxx Fargo Funds Trust approved the establishment of the Managed Account CoreBuilder Shares – Series SM (“Fund”). The Fund is expected to commence operations in the third quarter 2020.
4. On May 28, 2020 the Board of Trustees of Xxxxx Fargo Funds Trust approved the name change to the Short-Term Bond Fund to the Short-Term Bond Plus Fund, effective on or about August 3, 2020.
5. The fees for the Strategic Income Fund are paid based on assets under management attributable to the portion of the Fund’s portfolio managed by Xxxxx Capital Management Incorporated (“WellsCap”). Please note that concurrently with the
termination of Xxxxx Fargo Asset Management (International) Limited as subadviser to the Strategic Income Fund on or about August 3, 2020, the portion of the Fund’s portfolio managed by WellsCap will effectively be the entire portfolio.
6. On May 28, 2020 the Board of Trustees of Xxxxx Fargo Funds Trust approved the name change to the Strategic Income Fund to the Income Plus Fund, effective on or about August 3, 2020.
The foregoing fee schedule is agreed to as of May 28, 2020 and shall remain in effect until changed in writing by the parties.
XXXXX FARGO FUNDS MANAGEMENT, LLC
By: _______________________________
Xxxx Xxxxx
Senior Vice President
XXXXX CAPITAL MANAGEMENT INCORPORATED
By: _______________________________
Name: Xxxxxx Xxxxxx
Title: Chief Administrative Officer - WFAM
