Exhibit (h)(4)(iv)
EXPENSE LIMITATION AGREEMENT
This EXPENSE LIMITATION AGREEMENT is made as of the 6th day of JUNE,
2002 by and between XXXXXX XXXXXXXX INVESTMENT TRUST, a Delaware business trust
(the "Trust") and DEUTSCHE ASSET MANAGEMENT, INC., a Delaware corporation (the
"Advisor"), with respect to the following:
WHEREAS, the Advisor serves as Investment Advisor to the Trust's series
set forth on Exhibit A pursuant to Management Contracts dated July 30, 2002 and
an Investment Management Contract dated January 30, 1998, and the Advisor serves
as the Trust's Administrator pursuant to an Administration Agreement dated July
1, 2001 (collectively, the "Agreements").
NOW, in consideration of the mutual covenants herein contained and
other good and valuable consideration, the receipt whereof is hereby
acknowledged, the parties hereto agree as follows:
1. The Advisor and Administrator agree to waive their fees and/
or reimburse expenses to the extent necessary so that the
ordinary annual operating expenses for each of the Trust's
series or classes set forth on Exhibit A, as may be amended
from time to time, (each a "Fund") do not exceed the
percentage of average daily net assets set forth on Exhibit A
for the 16 month period from such Fund's fiscal year end. For
the purposes of this Agreement, ordinary operating expenses
for a Fund generally consist of all costs not specifically
borne by the Advisor or a Fund's principal underwriter,
including investment advisory fees, administration and
services fees, fees for necessary professional services,
amortization of organizational expenses and costs associated
with regulatory compliance and maintaining legal existence and
shareholder relations.
2. This Agreement shall be effective as to each Fund as of the
date the Fund commences operations after this Agreement shall
have been approved by the Board of Trustees of the Trust with
respect to that Fund and, unless sooner terminated as provided
herein, shall continue in effect as to such Fund for
successive 16 month periods from such Fund's fiscal year end,
provided such continuance is specifically approved at least
annually by the vote of a majority of the Board of Trustees of
the Trust. Upon the termination of any of the Agreements, this
Agreement shall automatically terminate with respect to the
affected Fund.
3. Any question of interpretation of any term or provision of
this Agreement having a counterpart in or otherwise derived
from a term or provision of the Investment Company Act of 1940
(the "1940 Act") shall be resolved by reference to such term
or provision of the 1940 Act and to interpretations thereof,
if any, by the United States Courts or in the absence of any
controlling decision of any such court, by rules, regulations
or orders of the Securities and Exchange Commission
("SEC") issued pursuant to said Act. In addition, where the
effect of a requirement of the 1940 Act reflected in any
provision of this Agreement is revised by rule, regulation or
order of the SEC, such provision shall be deemed to
incorporate the effect of such rule, regulation or order.
Otherwise the provisions of this Agreement shall be
interpreted in accordance with the laws of Delaware.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed in duplicate by their respective officers as of the day and year first
above written.
XXXXXX XXXXXXXX INVESTMENT TRUST
Attest: /s/ Xxxx X. Xxxxx By: /s/ Xxxxx X. Xxxxxxxxx
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Name: Xxxx X. Xxxxx Name: Xxxxx X. Xxxxxxxxx
Title: Assistant Secretary
DEUTSCHE ASSET MANAGEMENT, INC.
Attest: /s/ Xxxx X. Xxxxx By: /s/ Xxxxxx X. Xxxxxx
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Name: Xxxx X. Xxxxx Name: Xxxxxx X. Xxxxxx
Title: Vice President
Exhibit A
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Total Fund Operating Expenses
Fund (as a percentage of average daily net assets)
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Fixed Income Fund - Investment Class 0.80%
Fixed Income Fund - Institutional Class 0.55%
Fixed Income Fund - Class A Shares 0.80%
Fixed Income Fund - Class B Shares 1.55%
Fixed Income Fund - Class C Shares 1.55%
Short-Term Fixed Income Fund - Institutional Class 0.55%
Short-Term Fixed Income Fund - Class A Shares 0.80%
Short-Term Fixed Income Fund - Class B Shares 1.55%
Short-Term Fixed Income Fund - Class C Shares 1.55%
Municipal Bond Fund- Investment Class 0.80%
Municipal Bond Fund- Institutional Class 0.55%
Short-Term Municipal Bond Fund - Investment Class 0.80%
Short-Term Municipal Bond Fund - Institutional Class 0.55%
Short-Term Municipal Bond Fund - Class A Shares 0.80%
Short-Term Municipal Bond Fund - Class B Shares 1.55%
Short-Term Municipal Bond Fund - Class C Shares 1.55%
High Income Plus Fund - Investment Class 0.90%
High Income Plus Fund - Institutional Class 0.65%
High Income Plus Fund - Class A Shares 0.90%
High Income Plus Fund - Class B Shares 1.65%
High Income Plus Fund - Class C Shares 1.65%
High Income Plus Fund - Premier Class 0.50%
European Equity Fund - Investment Class 1.50%
European Equity Fund - Institutional Class 1.25%
European Equity Fund - Premier Class 0.95%
European Equity Fund - Class A Shares 1.50%
European Equity Fund - Class B Shares 2.25%
European Equity Fund - Class C Shares 2.25%
Micro Cap Fund - Investment Class 1.74%
Micro Cap Fund - Institutional Class 1.49%
Micro Cap Fund - Class A Shares 1.74%
Micro Cap Fund - Class B Shares 2.49%
Micro Cap Fund - Class C Shares 2.49%