AMENDMENT NO. 12 to the EXPENSE LIMITATION AGREEMENT
Exhibit 99.(h)(iii)(l)
AMENDMENT NO. 12
to the
This Amendment is made as of September 11, 2012 to the Expense Limitation Agreement dated August 14, 2007 (“Agreement”), as amended, between Munder Series Trust (“MST”) and Munder Capital Management (“MCM”).
WHEREAS, on May 15, 2012, the Board of Trustees of MST approved the waiver by MCM of a portion of the investment advisory fee payable by the Munder International Small-Cap Fund under the Combined Investment Advisory Agreement between MCM and MST through May 31, 2013 (“Advisory Fee Waiver”); and
WHEREAS, the Board of Trustees of MST previously approved the waiver by MCM of advisory or administration fees and/or payment certain operating expenses in amounts sufficient to maintain annual fund operating expenses at the levels specified in the Agreement (“Expense Ratio Waiver”) for each of the Munder Bond Fund, Munder Integrity Mid-Cap Value Fund, Munder Integrity Small/Mid-Cap Value Fund, Munder International Fund — Core Equity, Munder International Small-Cap Fund, Munder Large-Cap Value and Munder Veracity Small-Cap Value Fund; and
WHEREAS, on September 11, 2012, the Board of Trustees of MST approved a change in the Expense Ratio Waiver applicable to the Munder Bond Fund effective November 1, 2012 through October 31, 2013; and
WHEREAS, on September 11, 2012, the Board of Trustees of MST approved the continuation of the Expense Ratio Waivers on behalf of the each of the Munder Integrity Mid-Cap Value Fund, Munder Integrity Small/Mid-Cap Value Fund, Munder International Fund — Core Equity, Munder International Small-Cap Fund, and Munder Veracity Small-Cap Value Fund through October 31, 2013; and
WHEREAS, MCM agrees to the foregoing.
NOW THEREFORE, in consideration of the promises contained herein, MST and MCM agree to amend the Agreement as follows:
1. Schedule A of the Agreement is hereby replaced with the attached Schedule A effective September 11, 2012.
IN WITNESS WHEREOF, the parties hereto have caused this instrument to be executed by their officers designated below as of the date first set forth above.
|
|
MUNDER CAPITAL MANAGEMENT | |||
|
|
|
| ||
|
|
|
| ||
|
By: |
/s/ Xxxxxxx X. Xxxxxxxxxxx |
|
By: |
/s/ Xxxxx X. Xxxxxxx |
|
|
Xxxxxxx X. Xxxxxxxxxxx |
|
|
Xxxxx X. Xxxxxxx |
|
|
Vice President, Secretary & CCO |
|
|
Managing Director, Chief Financial Officer |
Dated: September 11, 2012
SCHEDULE A
To the Expense Limitation Agreement
Expense Limits
Effective Through October 31, 2012:
Expense payments and Service Agreement fee waivers made by MCM under this Agreement shall be made in an amount sufficient to maintain the specified Operating Expense Ratio for each class as follows:
|
Bond Fund |
|
|
|
|
Class A |
|
0.65 |
% |
|
Class B |
|
1.40 |
% |
|
Class C |
|
1.40 |
% |
|
Class K |
|
0.65 |
% |
|
Class Y |
|
0.40 |
% |
Effective Through May 31, 2013:
MCM agrees to waive a portion of the fee payable under the Combined Investment Advisory Agreement between MST and MCM dated December 29, 2006, as amended, with respect to the Munder International Small-Cap Fund so that such Fund shall pay MCM a fee of 0.90% on all assets through May 31, 2013.
Effective Through October 31, 2013:
Expense payments and Service Agreement fee waivers made by MCM under this Agreement shall be made in an amount sufficient to maintain the specified Operating Expense Ratio for each class as follows:
|
Bond Fund |
|
|
|
|
Class A |
|
0.85 |
% |
|
Class B |
|
1.60 |
% |
|
Class C |
|
1.60 |
% |
|
Class K |
|
0.85 |
% |
|
Class Y |
|
0.60 |
% |
|
Integrity Mid-Cap Value Fund |
|
|
|
|
Class A |
|
1.50 |
% |
|
Class Y |
|
1.25 |
% |
|
Integrity Small/Mid-Cap Value Fund |
|
|
|
|
Class A |
|
1.50 |
% |
|
Class Y |
|
1.25 |
% |
|
International Fund-Core Equity |
|
|
|
|
Class A |
|
1.47 |
% |
|
Class C |
|
2.22 |
% |
|
Class Y |
|
1.22 |
% |
|
Class I |
|
0.96 |
% |
|
|
|
|
|
|
International Small-Cap Fund |
|
|
|
|
Class A |
|
1.71 |
% |
|
Class C |
|
2.46 |
% |
|
Class R6 |
|
1.46 |
% |
|
Class Y |
|
1.46 |
% |
|
Class I |
|
1.20 |
% |
