Exhibit 9.38
Xxxxxxxx-Xxxxxxxxx Mutual Funds
000 Xxxx Xxxxxxxx
00xx Xxxxx
Xxx Xxxxx, Xxxxxxxxxx 00000
________________, 1997
Xxxxxxxx-Xxxxxxxxx Capital Management
000 Xxxx Xxxxxxxx
00xx Xxxxx
Xxx Xxxxx, XX 00000
Ladies and Gentlemen:
This will confirm our agreement that the expense limitation letter
agreement between us dated September 27, 1993, as previously amended, is hereby
further amended to add the following new Portfolio and Percentage Limitation to
Appendix A thereof:
Name of Portfolio Percentage Limitation
------------------ ---------------------
Xxxxxxxx-Xxxxxxxxx International Core
Growth Portfolio C 2.60%
The Percentage Limitation set forth above will continue until March
31, 1998, unless voluntarily extended by you, and will be subject to the
reimbursement provisions set forth in the Portfolio's prospectus.
In all other respects, the expense limitation letter agreement, as
previously amended, will remain in full force and effect. Please sign this
letter below to confirm your agreement with these amendments.
Sincerely,
-------------------------
X. Xxxxx Xxxxx, Xx.
Secretary
AGREED:
Xxxxxxxx-Xxxxxxxxx Capital Management
By: Xxxxxxxx-Xxxxxxxxx Capital
Management Holdings, L.P.,
its general partner
By: Xxxxxxxx-Xxxxxxxxx Capital
Management Holdings, Inc.,
its general partner
By:
-------------------------------
X. Xxxxx Xxxxx, Xx.
Secretary
