AGREEMENT
Exhibit 28(h)(7)
AGREEMENT
TO WAIVE FEES AND REIMBURSE EXPENSES
XXXXX NEW YORK VENTURE FUND, INC.
XXXXX GLOBAL FUND
XXXXX INTERNATIONAL FUND
CLASS A, C, AND Y SHARES
THIS AGREEMENT is made this 31st day of August, 2018, between Xxxxx New York Venture Fund,
Inc., a Maryland corporation (“DNYVF”) and Xxxxx Selected Advisers, L.P., a limited partnership organized under the laws of Colorado (“DSA”).
RECITALS:
WHEREAS, DNYVF is a registered open-end management investment company with four authorized series (Xxxxx New York Venture Fund, Xxxxx Research Fund, Xxxxx Global Fund, and Xxxxx International Fund); and
WHEREAS, DNYVF and DSA have entered into an agreement dated September 19, 2006. whereby DSA agreed to waive fees and reimburse expenses for Xxxxx Global Fund Class A, C, and Y shares; and
WHEREAS, DNYVF and DSA have entered into an agreement dated December 8, 2009, whereby DSA agreed to waive fees and reimburse expenses for Xxxxx International Fund Class A, C, and Y shares; and
WHEREAS, DSA serves as the investment adviser for DNYVF; and
WHEREAS, both DNYVF and DSA agree it is important that the actual expenses of Xxxxx Global Fund and Xxxxx International Fund not exceed a specified percentage, Class A shares: 1.15%; Class C shares: 1.90%; and Class Y
shares: 0.90%, of net assets on an annual basis;
NOW, THEREFORE, the parties hereby agree as follows:
| 1. |
Terminate Former Agreements. The agreement for Xxxxx Global Fund
dated September 19, 2006, and the agreement for Xxxxx International Fund dated December 8, 2009, are hereby terminated by mutual consent.
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| 2. |
Expense Caps. DSA agrees to waive fees and reimburse the expenses
of each authorized Class of shares of Xxxxx Global Fund and Xxxxx International Fund to the extent it is necessary to ensure that the actual expense incurred by each authorized Class of shares, after recognizing the benefits of custody
or other credits, fee waivers, and expense reimbursements, not exceed: Class A shares: 1.15%; Class C shares: 1.90%; and Class Y shares: 0.90% of net assets.
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| 3. |
Duration of Agreement. This Agreement shall be effective as of
September 1, 2018, and ending on March 1, 2020. This Agreement shall automatically renew for additional one-year periods if not terminated, in writing, by either party before March 1st of each year.
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IN WITNESS WHEREOF, the parties have duly executed and sealed this Agreement, all as of the date first written above.
Xxxxx New York Venture Fund, Inc. Xxxxx Selected Advisers, L.P.
By: Xxxxx Investment, LLC (General Partner)
By: /s/ Xxxx Xxxxxx By: /s/ Xxxx Xxxxxxx
Xxxx Xxxxxx Xxxx Xxxxxxx
Vice President Vice President
