AMENDED AND RESTATED EXPENSE LIMITATION/REIMBURSEMENT AGREEMENT
Exhibit (h)(xiv)
AMENDED AND RESTATED
EXPENSE LIMITATION/REIMBURSEMENT AGREEMENT
THIS AGREEMENT is entered into as of the 20th day of June 2010, as amended and restated August 29, 2011, by and between XXXXX CAPITAL MANAGEMENT, LLC (the “Adviser”) and FUNDVANTAGE TRUST (the “Trust”), on behalf of the Xxxxx Growth Fund (the “Fund”).
WHEREAS, the Adviser desires to contractually agree to reduce its advisory fee and/or reimburse certain of the Fund’s operating expenses to ensure that the Fund’s total operating expenses, excluding taxes, interest, extraordinary items, brokerage commissions, “class-specific fees and expenses” (defined below) and “Acquired Fund Fees and Expenses” (as defined in Form N-1A), do not exceed the levels described below. Class-specific fees and expenses are distribution expenses, transfer agency expenses, expenses of preparation, printing and mailing, prospectuses, statements of additional information, proxy statements and reports to shareholders, and organizational expenses and registration fees, identified as belonging to a particular class of the Trust; and
WHEREAS, the Adviser wishes to extend the term of the expense limitation/reimbursement agreement dated June 20, 2010 to August 31, 2012;
NOW, THEREFORE, the parties agree as follows:
Fee Reduction/Reimbursement. The Adviser agrees that from the commencement of the operations of the Fund through August 31, 2012, it will reduce its compensation and/or reimburse certain expenses for the Fund, to the extent necessary to ensure that the Fund’s total operating expenses, excluding taxes, interest, extraordinary items, brokerage commissions, any class-specific fees and expenses and Acquired Fund Fees and Expenses do not exceed 1.00% (on an annual basis) of the Fund’s average daily net assets.
Term. This Agreement shall terminate on August 31, 2012, or at an earlier date upon the discretion of the Board of Trustees of the Trust, unless extended, terminated, modified or revised by the mutual agreement of the parties, as provided for in writing.
Executed as of the date first set forth above.
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XXXXX CAPITAL MANAGEMENT, LLC | |
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By: |
/s/ Xxxx Xxxx |
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Name: |
Xxxx Xxxx |
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Title: |
COO |
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FUNDVANTAGE TRUST, on behalf of the Fund | |
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By: |
/s/ Xxxx Xxxxx |
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Name: |
Xxxx Xxxxx |
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Title: |
President |
