EXPENSE CAP/REIMBURSEMENT AGREEMENT
Exhibit d.2
EXPENSE CAP/REIMBURSEMENT AGREEMENT
This Agreement is entered into as of the __ day of _______, 2004, between Trend Trader, LLC (the “Adviser”) and Trend Trader Funds (the “Trust”) on behalf of the Trend Trader Growth and Income Fund (the “Fund”).
WHEREAS, the Adviser desires to contractually agree to waive a portion of its advisory fee and/or reimburse certain of the Fund’s operating expenses to ensure that the Fund’s total operating expenses, excluding taxes, interest, extraordinary items, and brokerage commissions, do not exceed the levels described below.
NOW, THEREFORE, the parties agree as follows:
1.
Fee Reduction/Reimbursement. The Adviser agrees that from __________, 2004 through __________, 2005, it will reduce its compensation as provided for in the Investment Advisory Agreement between the Fund and the Adviser dated __________, 2004, and/or reimburse certain expenses for the Fund, to the extent necessary to ensure that the Fund’s total operating expenses, excluding taxes, interest and brokerage commissions, do not exceed 1.05% and 0.80% (on an annual basis) for Investor Class and Institutional Class shares, respectively, of the Fund’s average daily net assets.
2.
Fee Recovery. The Adviser shall be entitled to recover, subject to approval by the Board of Trustees of the Trust, such amounts for a period of up to three (3) years from the year in which the Adviser reduced its compensation and/or assumed expenses for the Fund.
3.
Term. This Agreement shall terminate on __________, 2005 unless extended by the mutual agreement of the parties, as provided for in writing.
Executed as of the date first set forth above.
TREND TRADER, LLC
By:
Xxxx X. Xxxxxxxx, President
on behalf of the Trend Trader Growth and Income Fund
By:
Xxxx X. Xxxxxxxx, Chief Executive Officer and
President
