3
EXPENSE LIMITATION AGREEMENT
XXXX FAMILY OF FUNDS
Amendment No. 4
AMENDMENT, effective as of April 1, 2003, by and between X.X. Xxxx &
Associates, Inc. (the "Adviser") and Xxxx Family of Funds (the "Trust"), on
behalf of each series of the Trust set forth in Schedule A attached hereto (each
a "Fund," and collectively, the "Funds").
WHEREAS, the Trust and the Adviser have determined that it is appropriate
and in the best interests of each Fund and its shareholders to maintain the
expenses of each class of each Fund, and, therefore, have entered into the
Expense Limitation Agreement dated as of July 31, 1999 (the "Agreement"), in
order to maintain the expense ratios of each class of each Fund at the levels
specified in Schedule A attached hereto; and
WHEREAS, the Trust and the Adviser wish to amend the Agreement to reflect
the continuance of the Agreement for an additional one-year term;
NOW, THEREFORE, in consideration of the mutual convenants and agreements of
the parties hereto as set forth in the Agreement and herein, the Trust and the
Adviser hereby amend the Agreement as follows:
1. Section 2 of the Agreement shall read as follows:
2. Term and Termination of Agreement.
This Agreement with respect to the Funds shall
continue in effect through March 31, 2004, and from
year to year thereafter provided each such
continuance is specifically approved by a majority of
the Trustees of the Trust. This Agreement shall
terminate automatically with respect to the
applicable Fund upon the termination of its Advisory
Agreement with the Adviser.
2.Except as set forth in the above Paragraph 1, the provisions of the Agreement
are not affected by this Amendment and shall remain in full force and effect.
IN WITNESS WHEREOF, the parties have caused this Amendment to be signed
by their respective officers thereto duly, as of the day and year first above
written.
XXXX FAMILY OF FUNDS
ON BEHALF OF EACH OF ITS SERIES
By: /s/ Xxxxxxx X. Xxxxxx
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Xxxxxxx X. Xxxxxx
President
X. X. XXXX & ASSOCIATES,INC.
By: /s/ Xxxxxxx X. Xxxxxx
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Name: Xxxxxxx X. Xxxxxx
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Title: President
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CinLibrary/1156519.4
SCHEDULE A
OPERATING EXPENSE LIMITS
The Agreement relates to the following Funds and classes of the Trust:
Maximum Operating Expense Limit
Large Cap Value fund--Class A shares 1.85%
Large Cap Value Fund--Class C shares 2.60%
Small Cap Value fund--Class A shares 1.85%
Small Cap Value Fund--Class C shares 2.60%
Balanced Fund--Class A shares 1.85%
Balanced Fund--Class C shares 2.60%
International Value Fund--Class A shares 2.10%
International Value Fund--Class C shares 2.85%
CinLibrary/1156519.4
