SSgA Funds Management, Inc. State Street Financial Center One Lincoln Street Boston, MA 02111-2900
|
SSgA Funds Management, Inc. State Street Financial Center Xxx Xxxxxxx Xxxxxx Xxxxxx, XX 00000-0000 |
June 19, 2014
Xx. Xxxx X. Xxxxxxx
Assistant Treasurer
State Street Institutional Investment Trust
c/o State Street Corporation
000 Xxxxxxxxxx Xxxxxx
XXX00000
Xxxxxx, Xxxxxxxxxxxxx 00000
| RE: | State Street Institutional Investment Trust Waiver and Reimbursement Agreement |
Dear Xx. Xxxxxxx:
SSgA Funds Management, Inc. (“SSgA FM”), as adviser to the State Street Institutional Investment Trust (the “Funds”), agrees until April 30, 2016 to (i) waive up to the full amount of the advisory fee payable by a Fund, and (ii) to reimburse a Fund (exclusive of non-recurring account fees, extraordinary expenses, acquired fund fees and Distribution, Shareholder Servicing and Sub-Transfer Agency Fees, as measured on an annualized basis) to the level of the expense limitation for each Fund stated below:
| Fund Name |
Expense Limitation | Expiration Date | ||||||
| State Street Strategic Real Return Fund |
0.30 | % | 0/00/00 | |||||
| Xxxxx Xxxxxx Global Managed Volatility Fund |
0.80 | % | 4/30/16 | |||||
| State Street Small Cap Emerging Markets Equity Fund |
1.30 | % | 0/00/00 | |||||
| Xxxxx Xxxxxx Xxxxxxxxxxxxx Xxxxxxxx Markets Fund |
1.05 | % | 0/00/00 | |||||
| Xxxxx Xxxxxx Equity 500 Index II Portfolio |
0.03 | % | 4/30/16 | |||||
| State Street Aggregate Bond Index Portfolio |
0.04 | % | 0/00/00 | |||||
| Xxxxx Xxxxxx Global Equity ex-U.S. Index Portfolio |
0.08 | % | 0/00/00 | |||||
| Xxxxx Xxxxxx Xxxxxxx Xxxxxx Xxxx Xxxxxx Income Fund |
1.05 | % | 4/30/16 | |||||
| State Street Clarion Global Infrastructure & MLP Fund |
1.20 | % | 4/30/16 | |||||
Additionally, SSgA FM is proposing to implement certain expense limitation arrangements for the below funds in the following manner:
(i) waive up to the full amount of the advisory fee payable by a Fund, and (ii) to reimburse a Fund (exclusive of nonrecurring account fees, extraordinary expenses, and distribution, shareholder servicing, and sub-transfer agency fees), as measured on an annualized basis) to the level of the expense limitation for each Fund stated below:
| Fund Name |
Expense Limitation | Expiration Date | ||||||
| State Street Strategic Real Return Portfolio |
0.08 | % | 4/30/16 | |||||
| State Street Target Retirement Fund |
0.17 | % | 4/30/16 | |||||
| State Street Target Retirement 2015 Fund |
0.17 | % | 0/00/00 | |||||
| Xxxxx Xxxxxx Xxxxxx Xxxxxxxxxx 0000 Fund |
0.17 | % | 0/00/00 | |||||
| Xxxxx Xxxxxx Xxxxxx Xxxxxxxxxx 0000 Fund |
0.17 | % | 4/30/16 | |||||
| State Street Target Retirement 2030 Fund |
0.17 | % | 4/30/16 | |||||
|
|
SSgA Funds Management, Inc. State Street Financial Center Xxx Xxxxxxx Xxxxxx Xxxxxx, XX 00000-0000 |
| State Street Target Retirement 2035 Fund |
0.17 | % | 0/00/00 | |||||
| Xxxxx Xxxxxx Xxxxxx Xxxxxxxxxx 0000 Fund |
0.17 | % | 0/00/00 | |||||
| Xxxxx Xxxxxx Xxxxxx Xxxxxxxxxx 0000 Fund |
0.17 | % | 0/00/00 | |||||
| Xxxxx Xxxxxx Xxxxxx Xxxxxxxxxx 0000 Fund |
0.17 | % | 0/00/00 | |||||
| Xxxxx Xxxxxx Xxxxxx Xxxxxxxxxx 0000 Fund |
0.17 | % | 4/30/16 | |||||
| State Street Target Retirement 2060 Fund |
0.17 | % | 4/30/16 |
Finally, SSgA FM is proposing to implement certain expense limitation arrangements for the below funds in the following manner:
(i) waive up to the full amount of the advisory fee payable by a Fund, and (ii) to reimburse a Fund (exclusive of non-recurring account fees, extraordinary expenses, acquired fund fees, any class-specific expenses, such as distribution, shareholder servicing, sub-transfer agency and administration fees), as measured on an annualized basis) to the level of the expense limitation for each Fund stated below:
| Fund Name |
Expense Limitation | Expiration Date | ||||||
| State Street Global ex-U.S. Index Fund |
0.10 | % | 0/00/00 | |||||
| Xxxxx Xxxxxx Equity 500 Index Fund |
0.01 | % | 0/00/00 | |||||
| Xxxxx Xxxxxx Xxxxxxxxx Xxxx Index Fund |
0.04 | % | 4/30/16 | |||||
Prior to April 30, 2016, as specified above, this agreement may not be terminated with respect to a Fund without the approval of the Board of Trustees. This agreement supersedes any prior voluntary waiver or reimbursement arrangements for the Funds specifically named above and may, at SSgA FM’s option, continue after the dates designated above.
If this arrangement is acceptable to you, please sign below to indicate your acceptance and agreement and return a copy of this letter to me.
Sincerely,
SSgA FUNDS MANAGEMENT, INC.
| By: | /s/ Xxxxx X. Xxxxxxx | |
| Xxxxx X. Xxxxxxx, Director and President |
Accepted and Agreed:
State Street Institutional Investment Trust, on behalf of the Funds named above
| By: | /s/ Xxxx X. Xxxxxxx | |
| Xxxx X. Xxxxxxx Assistant Treasurer |
