BNY MELLON INVESTMENT ADVISER, INC. 240 Greenwich Street

BNY MELLON INVESTMENT ADVISER, INC.
000 Xxxxxxxxx Xxxxxx

New York, New York  10286

May 1, 2020

Dreyfus Liquid Assets, Inc.

000 Xxxxxxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx  00000

Re:       Expense Limitation

To Whom It May Concern:

BNY Mellon Investment Adviser, Inc. ("BNYM Investment Adviser"), intending to be legally bound, hereby confirms its agreement in respect of Dreyfus Liquid Assets, Inc. (the "Fund"), as follows:

Until May 1, 2021, BNYM Investment Adviser will waive receipt of its fees and/or assume the direct expenses of the Fund's Class 1 and Class Z shares so that the direct expenses of the Class 1 and Class Z shares (excluding taxes, interest, brokerage commissions, commitment fees on borrowings and extraordinary expenses) do not exceed .64% and .68%, respectively, of the value of the Fund's average daily net assets.  On or after May 1, 2021, BNYM Investment Adviser may terminate this expense limitation agreement at any time.

This Agreement may only be amended by agreement of the Fund, upon the approval of the Board of Directors of the Fund and BNYM Investment Adviser to lower the net amounts shown and may only be terminated prior to May 1, 2021, in the event of termination of the Management Agreement between BNYM Investment Adviser and the Fund.

                                                                        BNY MELLON INVESTMENT ADVISER, INC.

                                                                        By: /s/ Xxxxx Xxxxxxx
                                           Xxxxx Xxxxxxx

                                                                               Secretary

Accepted and Agreed To:

DREYFUS LIQUID ASSETS, INC.

By: /s/ Xxxxx Xxxxxxx

       Xxxxx Xxxxxxx

       Treasurer