April 1, 2000
Atlas Advisers, Inc.
000 Xxxxx Xxxxxx
Xxx Xxxxxxx, XX 00000
Ladies and Gentlemen:
This will confirm our agreement with respect to the reduction by you in the
operating expenses for the various series (each a "Fund") of Atlas Assets, Inc.
(the "Company").
You have agreed that, during the Company's fiscal year ending December 31,
2000, you will waive investment management fees and reimburse other operating
expenses of each Fund to the extent necessary to ensure that the total
operating expenses of each Fund do not exceed the percentage set forth in
Exhibit A of the average daily net assets of the Fund (the "Expense Cap").
This letter supersedes all prior agreements between us with respect to such
Expense Caps.
Please sign this letter below to confirm our agreement regarding this matter.
Very truly yours,
ATLAS ASSETS, INC.
By: /s/ Xxxxx X. XxXxxxx
----------------------
Xxxxx X. XxXxxxx
Group Senior Vice President
Chief Operating Officer
Agreed to this 1st day of April 2000:
ATLAS ADVISERS, INC.
By: /s/ Xxxxx X. XxXxxxx
---------------------------
Xxxxx X. XxXxxxx
Group Senior Vice President
Chief Operating Officer
EXHIBIT A
EXPENSE CAP SCHEDULE
EXPENSE
FUND CAP SCHEDULE
---- ------------
Atlas U.S. Treasury Money Fund (Class A) 0.69%
Atlas National Municipal Money Fund 0.73%
Atlas California Municipal Money Fund 0.63%
Atlas U.S. Treasury Money Fund (Class B) 1.44%
