ADDENDUM TO EXPENSE LIMITATION AGREEMENT
Addendum dated December 29, 2006 to the Expense Limitation Agreement (the
"Agreement") between The Destination Funds (the "Trust"), on behalf of The
Destination Select Equity Fund (the "Fund"), and Destination Capital Management,
Inc. (the "Adviser").
RECITAL
The Agreement requires the Adviser to limit the aggregate ordinary
operating expenses of the Fund to an annual rate of 1.25% of the Fund's
average daily net assets for a three year period ending December 29, 2008.
NOW THEREFORE, it is agreed that:
1. Effective December 29, 2006 through December 31, 2016, the Adviser shall
waive advisory fees and reimburse the Fund for the Fund's expenses, excluding
brokerage fees and commissions, taxes, borrowing costs (such as (a) interest and
(b) dividend expense on securities sold short) and such extraordinary or
non-recurring expenses as may arise, including litigation to which the Fund may
be a party and indemnification of the Trust's trustees and officers with respect
thereto, in order to maintain total Fund operating expenses at 1.25% of its
average daily net assets.
2. The Agreement is unchanged in all other respects.
IN WITNESS WHEREOF, the parties have caused this Addendum to be signed by
their officers designated below, all as of the date first written above.
DESTINATION CAPITAL MANAGEMENT, INC
By: /s/ Xxxxxxx X. Xxxxxxxxx
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Title: President
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ACCEPTED BY:
THE DESTINATION FUNDS
By: /s/ Xxxxxxx X. Xxxxxxxxx
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Title: President
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