CONTRACTUAL FEE WAIVER AGREEMENT
BETWEEN WESTLAKES INSTITUTIONAL PORTFOLIOS AND
XXXXXX INVESTMENT PARTNERS, INC.
AGREEMENT made this 5th day of February 2003, by and between Westlakes
Institutional Portfolios, a Delaware business trust (the "Trust"), and Xxxxxx
Investment Partners, Inc. (the "Investment Adviser") (together, the "Parties").
The Investment Adviser hereby agrees to waive fees and/or reimburse
expenses to the extent necessary to limit the unified management fee to the
following level for a period of two years from the date of this Agreement:
PORTFOLIO TOTAL UNIFIED MANAGEMENT FEE
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Midcap Growth Portfolio 0.80%
This Agreement may be renewable at the end of the initial two-year period
for an additional one-year period upon the written agreement of the parties
hereto.
This Agreement embodies the entire agreement of the Parties relating to
the subject matter hereof. This Agreement supersedes and replaces any prior
contractual waiver agreement between the parties with respect to the
Portfolio(s) listed above. No amendment or modification of this Agreement will
be valid or binding unless it is in writing and signed by the Parties.
IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be
executed as of the day and year first written above.
Westlakes Institutional Portfolios Xxxxxx Investment Partners, Inc.
By: /s/ Xxxx X. Xxxxx By: /s/ Xxxxxx X. Xxxxx
