AGREEMENT made this 1st day of March, 2001, by and between The Advisors' Inner
Circle Fund, a Massachusetts business trust (the "Trust"), and HGK Asset
Management (the "Adviser")(together, the "Parties").
The Adviser hereby agrees to waive its fee and/or reimburse expenses to the
extent necessary to limit the total operating expenses at the following levels
for a period of one year from the date of this Agreement for the following fund:
Fund Total Operating Expenses
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HGK Equity Value Portfolio 1.50%
The Trust acknowledges that the Adviser may engage in brokerage transactions
using Fund assets with brokers who agree to pay a portion of the Fund's
expenses, and that the Adviser's guarantee of Fund expense ratios takes into
account these expense-limiting arrangements.
This Agreement shall be renewable at the end of each one-year period for an
additional one-year period upon the written agreement of the Parties hereto.
IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed
as of the day and year first written above.
THE ADVISORS' INNER CIRCLE FUND HGK ASSET MANAGEMENT
By: /s/ Xxxxx X. Xxxxx By: /s/ Xxxxxxxx X. Xxxxxxxx
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Name: Xxxxx X. Xxxxx Name: Xxxxxxxx X. Xxxxxxxx
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Title: President Title: Chief Operating Officer
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