February 19, 2014
February 19, 2014
Xxxxxxx Xxxxx & Company, L.L.C.
000 Xxxx Xxxxx Xxxxxx
Chicago, IL 60606
| Re: | Management Agreement with Xxxxxxx Xxxxx Funds dated |
| December 15, 1999 (the “Management Agreement”) |
Ladies and Gentlemen:
Pursuant to Section 7 of the Management Agreement, Xxxxxxx Xxxxx & Company, L.L.C. proposes to amend the Management Agreement to reduce the management fee for the Commodity Strategy Long/Short Fund from 1.40% of average daily net assets to 1.20% of average daily net assets effective March 1, 2014. Attached hereto is amended Appendix A to the Management Agreement to reflect the appropriate management fee for the Commodity Strategy Long/Short Fund.
By signing below Xxxxxxx Xxxxx & Company, L.L.C. acknowledges that this amendment to the Management Agreement may be enforced against it.
| XXXXXXX XXXXX FUNDS | ||
| By: | /s/ Xxxxxxx X. Xxxxxxxxx | |
| Name: | Xxxxxxx X. Xxxxxxxxx | |
| Title: |
Treasurer | |
| Accepted this 19th day of February, 2014. | ||
| XXXXXXX XXXXX & COMPANY, L.L.C. | ||
| By: | /s/ Xxx X. Xxxxxx | |
| Name: | Xxx X. Xxxxxx | |
| Title: | Partner | |
APPENDIX A
MANAGEMENT FEES
Xxxxxxx Xxxxx Growth Fund:
.75% of average daily net assets
Xxxxxxx Xxxxx Large Cap Growth Fund:
.80% of average daily net assets
Xxxxxxx Xxxxx Small Cap Growth Fund:
1.10% of average daily net assets
Xxxxxxx Xxxxx International Growth Fund:
1.10% of the first $250 million of average daily net assets; plus
1.00% of the next $4.75 billion of average daily net assets; plus
0.95% of the next $5 billion of average daily net assets; plus
0.925% of the next $5 billion of average daily net assets; plus
0.90% of the average daily net assets over $15 billion
Xxxxxxx Xxxxx Small Cap Value Fund:
1.10% of average daily net assets
Xxxxxxx Xxxxx Income Fund:
.25% of the first $250 million of average daily net assets; plus
.20% of average daily net assets over $250 million; plus
5.00% of the gross income earned by the Portfolio
Xxxxxxx Xxxxx Ready Reserves Fund:
.275% of the first $250 million of average daily net assets; plus
.250% of the next $250 million of average daily net assets; plus
.225% of the next $2,000 million of average daily net assets; plus
.200% of the average daily net assets over $2,500 million
Xxxxxxx Xxxxx Institutional International Growth Fund:
1.00% of the first $500 million of average daily net assets; plus
0.95% of the next $500 million of average daily net assets; plus
0.90% of the next $1.5 billion of average daily net assets; plus
0.875% of the next $2.5 billion of average daily net assets; plus
0.85% of the next $5 billion of average daily net assets; plus
0.825% of the next $5 billion of average daily net assets; plus
0.80% of the average daily net assets over $15 billion
Xxxxxxx Xxxxx Small-Mid Cap Growth Fund:
1.00% of average daily net assets
Xxxxxxx Xxxxx International Equity Fund:
1.10% of the first $250 million of average daily net assets; plus
1.00% of the average daily net assets over $250 million
Xxxxxxx Xxxxx Institutional International Equity Fund:
1.00% of the first $500 million of average daily net assets; plus
0.95% of the next $500 million of average daily net assets; plus
0.90% of the average daily net assets over $1 billion
Xxxxxxx Xxxxx Emerging Markets Growth Fund:
1.10% of average daily net assets
Xxxxxxx Xxxxx International Small Cap Growth Fund:
1.00% of average daily net assets
Xxxxxxx Xxxxx Mid Cap Growth Fund:
0.95% of average daily net assets
Xxxxxxx Xxxxx Xxxx Fund:
0.30% of average daily net assets
Xxxxxxx Xxxxx Global Leaders Fund:
1.00% of average daily net assets
Xxxxxxx Xxxxx Emerging Markets Leaders Fund:
1.10% of average daily net assets
Xxxxxxx Xxxxx Low Duration Fund:
0.30% of average daily net assets
Xxxxxxx Xxxxx Mid Cap Value Fund:
0.95% of average daily net assets
Xxxxxxx Xxxxx Large Cap Value Fund:
0.80% of average daily net assets
Xxxxxxx Xxxxx Emerging Markets Small Cap Growth Fund:
1.10% of average daily net assets
Xxxxxxx Xxxxx Xxxxx Allocation Fund:
0.80% of average daily net assets
Xxxxxxx Xxxxx Xxxxx-Mid Cap Value Fund:
1.00% of average daily net assets
Xxxxxxx Xxxxx Commodity Strategy Long/Short Fund:
1.20% of average daily net assets
Xxxxxxx Xxxxx International Leaders Fund:
0.95% of average daily net assets
Xxxxxxx Xxxxx Global Small Cap Growth Fund:
1.00% of average daily net assets
