ADDENDUM TO EXPENSE LIMITATION AGREEMENT
ADDENDUM
TO EXPENSE LIMITATION AGREEMENT
Addendum dated December 8, 2009 to the
Expense Limitation Agreement (the “Agreement”) between The Destination Funds
(the “Trust”), on behalf of The Destination Select Equity Fund (the “Fund”), and
Destination Capital Management, Inc. (the “Adviser”).
Recital
The
Agreement requires the Adviser to limit the aggregate ordinary
operating expenses of the Fund to an annual rate of 1.25% of the
Fund’s average daily net assets for a three year period ending December 29,
2008.
Now Therefore, it is agreed
that:
1. Effective
December 29, 2009 through December 31, 2019, the Adviser shall waive advisory
fees and reimburse the Fund for the Fund’s expenses, excluding brokerage fees
and commissions, taxes, borrowing costs (such as (a) interest and (b) dividend
expense on securities sold short) and such extraordinary or non-recurring
expenses as may arise, including litigation to which the Fund may be a party and
indemnification of the Trust’s trustees and officers with respect thereto, in
order to maintain total Fund ordinary operating expenses at 1.25% of its average
daily net assets.
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2.
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The
Agreement is unchanged in all other
respects.
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In Witness Whereof, the
parties have caused this Addendum to be signed by their officers designated
below, all as of the date first written above.
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DESTINATION
CAPITAL MANAGEMENT, INC
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By:
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/s/
Xxxxxxx X. Xxxxxxxxx
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Title:
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President
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Accepted
by:
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By:
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/s/
Xxxxxxx X. Xxxxxxxxx
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Title:
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President
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