CONTRACTUAL FEE/EXPENSE WAIVER AGREEMENT
Exhibit 99.(13)(n)
CONTRACTUAL FEE/EXPENSE WAIVER AGREEMENT
Agreement effective as of the 31st day of January 2011 by and among the Xxxxxx Funds, a Massachusetts business trust (the “Trust”), Xxxxxx Investment Partners, Inc., a Pennsylvania corporation (“TIP”), and Xxxxxx Investment Management LLC, a Maryland limited liability company (“XXX”).
1. TIP hereby agrees to limit the net total operating expenses, excluding acquired fund fees and expenses and interest expenses relating to short sales, at the levels indicated through January 31, 2012 for each of the following Funds:
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Fund: |
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Net Total Operating Expenses |
|
|
|
|
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Xxxxxx Large Growth Fund |
|
|
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Institutional Class |
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0.69% |
|
Investor Class |
|
0.94% |
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Xxxxxx Emerging Growth Fund |
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|
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Institutional Class |
|
1.15% |
|
Investor Class |
|
1.40% |
|
Xxxxxx Large Cap Growth Fund |
|
|
|
Institutional Class |
|
0.69% |
|
Investor Class |
|
0.94% |
|
Xxxxxx Midcap Growth Fund |
|
|
|
Institutional Class |
|
0.93% |
|
Investor Class |
|
1.18% |
|
Retirement Class |
|
1.43% |
|
Xxxxxx Small Cap Growth Fund |
|
|
|
Investor Class |
|
1.25% |
|
Xxxxxx International Core Growth Fund |
|
|
|
Institutional Class |
|
1.10% |
|
Investor Class |
|
1.35% |
|
Xxxxxx Quantitative Broad Market Equity Fund |
|
|
|
Institutional Class |
|
0.64% |
|
Investor Class |
|
0.89% |
|
Xxxxxx Quantitative Large Cap Value Fund |
|
|
|
Institutional Class |
|
0.69% |
|
Investor Class |
|
0.94% |
|
Xxxxxx Global Opportunities Fund |
|
|
|
Institutional Class |
|
1.10% |
|
Investor Class |
|
1.35% |
2. TIP hereby agrees to limit the net total operating expenses at the levels indicated through January 31, 2012 for Xxxxxx Spectrum Fund:
|
Xxxxxx Spectrum Fund: |
|
Net Total Operating Expenses |
|
|
|
|
|
Institutional Class |
|
1.95% |
|
Investor Class |
|
2.20% |
|
Class C |
|
2.95% |
3. TIP hereby agrees to limit the net total other expenses, excluding acquired fund fees and expenses and interest expenses relating to short sales, at the levels indicated through January 31, 2012 for each of the following Funds:
|
Fund: |
|
Net Total Other Expenses |
|
|
|
|
|
Xxxxxx Concentrated Growth Fund |
|
|
|
Investor Class |
|
0.25% |
|
Xxxxxx New Enterprise Fund |
|
|
|
Investor Class |
|
0.25% |
4. XXX hereby agrees to limit the net total operating expenses, excluding acquired fund fees and expenses and interest expenses relating to short sales, at the levels indicated through January 31, 2012 for Xxxxxx Small Cap Equity Fund:
|
Xxxxxx Small Cap Equity Fund: |
|
Net Total Operating Expenses |
|
|
|
|
|
Institutional Class |
|
1.20% |
|
Investor Class |
|
1.45% |
This Agreement shall be renewable at the end of each one year term for an additional one year term upon the written agreement of the parties hereto.
This Agreement supersedes any prior contractual waiver agreement(s) between the parties.
IN WITNESS WHEREOF, intending to be legally bound hereby, the parties hereto have caused this Agreement to be executed by their officers designated below effective as of the day and year first above written.
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XXXXXX FUNDS |
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XXXXXX INVESTMENT PARTNERS, INC. | ||
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By: |
/s/ Xxxxxx X. Xxxxx |
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By: |
/s/ Xxxxx X. XxXxxxx |
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Signature |
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Signature |
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Name: |
Xxxxxx X. Xxxxx |
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Name: |
Xxxxx X. XxXxxxx |
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Printed |
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Printed |
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Title: |
President and Chief Executive Officer |
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Title: |
General Counsel and Chief |
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Compliance Officer - Principal |
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XXXXXX INVESTMENT MANAGEMENT LLC |
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By: |
/s/ Xxxxx X. XxXxxxx |
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Signature |
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Name: |
Xxxxx X. XxXxxxx |
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Printed |
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Title: |
General Counsel and Chief |
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| |
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Compliance Officer |
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