February 9, 2007
|
|
February 9, 2007 |
Xx. Xxxxxx X. Xxxxx
President
Xxxxxxxx-Xxxxxxxxx Fund, Inc.
000 Xxxxxxxx Xxxxxx
|
Gateway Center Thee-4th Floor |
Newark, NJ 07102
|
Re: |
Fee Reductions |
Dear Xx. Xxxxx:
This letter is to set forth the agreement among Xxxxxxxx-Xxxxxxxxx Fund, Inc. (the “Fund”), Prudential Investments LLC (“PI”) and Xxxxxxxx-Xxxxxxxxx Capital Management LLC (“NACM”) regarding the fees payable by the Fund to PI and by PI to NACM under investment advisory agreements with the Fund to reflect the waiver by NACM of certain subadvisory fees. Effective May 1, 2007 and until April 30, 2008, PI and NACM respectively agree to the following annual fees payable under the advisory agreements with the Fund:
|
PI (Paid by the Fund) |
NACM (paid by XX) |
|
.70% of average net assets |
.50% of average net assets |
If the foregoing agreement meets with your approval, then please indicate the Fund’s agreement and acceptance by execution below.
|
|
Very truly yours, |
|
PRUDENTIAL INVESTMENTS LLC |
XXXXXXXX-XXXXXXXXX CAPITAL MANAGEMENT LLC |
|
|
|
|
|
|
|
By: _/s/ Xxxxxx X. Xxxxx |
By: _/s/ Xxxxxxx Xxxxx__ |
|
Name: Xxxxxx X. Xxxxx |
Name: Xxxxxxx Xxxxx |
|
Title: Chief Administrative Officer |
Title: General Counsel |
|
|
|
|
|
|
|
|
AGREED AND ACCEPTED |
|
|
|
|
|
XXXXXXXX-XXXXXXXXX FUND, INC. |
|
|
|
|
|
|
|
|
By: _/s/ Xxxxxx X. Xxxxx_______ |
|
|
Name: Xxxxxx X. Xxxxx |
|
|
Title: President |
