Exhibit 6(d)
FEE WAIVER/EXPENSE
REIMBURSEMENT AGREEMENT
THIS FEE WAIVER/EXPENSE REIMBURSEMENT AGREEMENT (the "Agreement") is made
as of [ ], 2007 by and among BlackRock Advisors, LLC ("BlackRock Advisors")
and BlackRock Bond Fund, Inc. (the "Corporation"), on behalf of itself and
BlackRock Bond Fund, a series of the Corporation, (the "Fund").
WHEREAS, BlackRock Advisors and the Corporation have determined that the
total annual fund operating expenses of certain classes of the Fund's shares may
increase as a result of the reorganization with Total Return;
WHEREAS, BlackRock Advisors and the Corporation have entered into an
investment management agreement dated as of October 2, 2006 (the "Management
Agreement") whereby BlackRock Advisors provides certain advisory services to the
Corporation and the Fund;
WHEREAS, BlackRock Advisors desires to waive all or a portion of its fees,
and/or reimburse all or a portion of the expenses of the Fund under the
Management Agreement, as may from time to time be necessary as provided herein;
WHEREAS, BlackRock Advisors understands and intends that the Corporation
will rely on this Agreement in preparing registration statements on Form N-1A
and in accruing the expenses of the Fund for purposes of calculating net asset
value and for other purposes, and expressly permits the Corporation to do so;
and
WHEREAS, shareholders of the Fund will benefit from the ongoing waivers
and/or reimbursements by incurring lower operating expenses than they would
absent such waivers and/or reimbursements.
NOW, THEREFORE, BlackRock Advisors agrees to waive fees and/or reimburse
direct expenses of the Fund to the extent necessary to limit the ordinary annual
operating expenses (excluding: (i) interest, taxes, brokerage commissions, and
other expenditures which are capitalized in accordance with generally accepted
accounting principles; (ii) expenses incurred indirectly by Bond Fund as a
result of investments in other investment companies and pooled investment
vehicles; (iii) other expenses attributable to, and incurred as a result of,
Bond Fund's investments; and (iv) other extraordinary expenses not incurred in
the ordinary course of Bond Fund's business) (a) with respect to Investor A
shares of the Fund, to 0.90% of the average daily net assets of the Fund
attributable to Investor A shares for the annual period, (b) with respect to
Investor B and Investor C shares of the Fund, to 1.65% of the average daily net
assets of the Fund attributable to Investor B and Investor C shares,
respectively, for the annual period, (c) with respect to Institutional shares of
the Fund, to 0.55% of the average daily net assets of the Fund attributable to
Institutional shares for the annual period, (d) with respect to Service shares
of the Fund, to 0.85% of the average daily net assets of the Fund attributable
to Service shares for the annual period, (e) with respect to Class R shares of
the Fund, to 1.10% of the average daily net assets of the Fund attributable to
Class R shares for the annual period, and (f) with respect to BlackRock shares
of the Fund, to 0.40% of the average daily net assets of the Fund attributable
to BlackRock shares for the annual period; provided, however, that in no event
shall
the sum of the fees waived and the expenses reimbursed by BlackRock Advisors
exceed the amount of fees actually due to BlackRock Advisors under the
Management Agreement. The relative amounts of the fees waived and the expenses
reimbursed by BlackRock Advisors pursuant to this paragraph and the relative
reduction of the investment advisory fee pursuant to this paragraph will be
determined by BlackRock Advisors in its discretion, so long as the total
ordinary annual operating expenses incurred by the stated classes of shares of
the Fund do not exceed the amounts stated above.
This Agreement shall be effective from the date hereof until February 1,
2008.
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IN WITNESS WHEREOF, BlackRock Advisors and the Corporation have agreed to
this Fee Waiver/Expense Reimbursement Agreement as of the day and year first
above written.
BLACKROCK ADVISORS, LLC
By:
By:
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Name: Xxxxxx X. Xxxxx
Title: Managing Director
BLACKROCK BOND FUND, INC., on behalf of itself
and BlackRock Bond Fund
By:
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Name: Xxxxxx X. Xxxxx
Title: Vice President and Treasurer
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