AMENDMENT TO SECOND AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT
AMENDMENT TO
SECOND AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT
This Amendment to Second Amended and Restated Expense Limitation Agreement (the “Amendment”) is made and entered into as of June 18, 2020, between RBC Funds Trust, a Delaware statutory trust (the “Trust”), on behalf of each of its series listed on Schedule A hereto (each, a “Fund” and collectively, the “Funds”), and RBC Global Asset Management (U.S.) Inc., a Minnesota corporation (“RBC GAM US”).
WHEREAS, the Trust and RBC GAM US previously entered into that certain Second Amended and Restated Expense Limitation Agreement, dated as of October 1, 2019 (as further amended, restated, modified or supplemented from time to time, the “Agreement”); and
WHEREAS, the Trust and RBC GAM US wish to amend the Agreement to reflect modifications to the expense limitation arrangement with each of RBC BlueBay Emerging Markets Debt Fund, RBC Emerging Markets Small Cap Equity Fund, RBC Global Opportunities Fund and RBC International Opportunities Fund.
NOW THEREFORE, in consideration of the mutual premises and covenants herein set forth, the parties agree as follows:
| 1. | Schedule A of the Agreement shall be replaced in its entirety with the updated Schedule A attached hereto. |
| 2. | The Agreement, as modified herein, shall continue in full force and effect, and nothing herein contained shall be construed as a waiver or modification of existing rights under the Agreement, except as such rights are expressly modified hereby. |
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed and delivered by their respective authorized officers or representatives as of the date first above written.
| RBC FUNDS TRUST | ||
| By: | ||
| Name: | Xxxxx Xxxxx | |
| Title: | Chief Financial Officer and Treasurer | |
| RBC GLOBAL ASSET MANAGEMENT (U.S.) INC. | ||
| By: | ||
| Name: | Xxxxx Xxxx | |
| Title: | Chief Operating Officer | |
Schedule A
| Operating Expense Limits – By Class | ||||||||||||||||||||||
| Fund Name | Class A | Class I | Class R6 |
Class IS |
Initial Term Through* |
Recoupment Duration |
||||||||||||||||
|
Access Capital Community Investment Fund |
0.80 | % | 0.45 | % | NA | 0.40 | % | January 31, 2018 with respect to Class A and I; January 31, 2021 with respect to Class IS | 12 months | |||||||||||||
|
RBC BlueBay Emerging Market Debt Fund |
1.04 | % | 0.79 | % | 0.74 | % | NA | January 31, 2018 | 36 months | |||||||||||||
|
RBC BlueBay Global Bond Fund |
0.77 | % | 0.52 | % | 0.47 | % | NA | January 31, 2018 with respect to Classes I and R6; January 31, 2021 with respect to Class A | 36 months | |||||||||||||
|
RBC BlueBay High Yield Bond Fund |
0.82 | % | 0.57 | % | NA | NA | January 31, 2018 | 36 months | ||||||||||||||
|
RBC Emerging Markets Equity Fund |
1.13 | % | 0.88 | % | 0.88 | % | NA | September 30, 2018 | 36 months | |||||||||||||
|
RBC Emerging Markets Small Cap Equity Fund |
1.49 | % | 1.24 | % | NA | NA | July 31, 2018 | 36 months | ||||||||||||||
|
RBC Emerging Markets Value Equity Fund |
NA | 0.95 | % | 0.88 | % | NA | July 31, 2019 | 36 months | ||||||||||||||
|
RBC Enterprise Fund |
1.33 | % | 1.08 | % | NA | NA | January 31, 2018 | 12 months | ||||||||||||||
|
RBC Global Opportunities Fund |
1.00 | % | 0.75 | % | 0.70 | % | NA | July 31, 2018 with respect to Classes I and R6; July 31, 2021 with respect to Class A | 36 months | |||||||||||||
| RBC Impact Bond Fund |
0.70 | % | 0.45 | % | 0.40 | % | NA | January 31, 2019 with respect to Classes I and R6; January 31, 2021 with respect to Class A | 36 months | |||||||||
|
RBC International Opportunities Fund |
1.05 | % | 0.80 | % | 0.75 | % | NA | July 31, 2018 with respect to Classes I and R6; July 31, 2021 with respect to Class A | 36 months | |||||||||
|
RBC Microcap Value Fund |
1.32 | % | 1.07 | % | NA | NA | January 31, 2018 | 12 months | ||||||||||
|
RBC Short Duration Fixed Income Fund |
0.45 | % | 0.35 | % | NA | NA | July 31, 2018 | 36 months | ||||||||||
|
RBC Small Cap Core Fund |
1.15 | % | 0.90 | % | 0.87 | % | NA | January 31, 2018 | 12 months | |||||||||
|
RBC Small Cap Value Fund |
NA | 0.85 | % | 0.80 | % | NA | January 31, 2018 | 36 months | ||||||||||
|
RBC XXXX Cap Growth Fund |
1.07 | % | 0.82 | % | 0.77 | % | NA | January 31, 2019 | 12 months | |||||||||
|
RBC Ultra-Short Fixed Income Fund |
0.38 | % | 0.28 | % | NA | NA | July 31, 2018 | 36 months |
* Note that after the initial term, this Agreement shall continue in effect from year to year thereafter for each Fund, unless and until revised or terminated, all as described in Section 3 of the Agreement.
