RE: Fee Waiver and/or Expense Reimbursement Arrangement Agreement
Exhibit (d)(ii)(1)
May 7, 2019
Xx. Xxxxx Xxxxxxxxx
Treasurer
c/o SSGA Funds Management, Inc.
Xxx Xxxx Xxxxxx
Xxxxxx, Xxxxxxxxxxxxx 00000
| RE: | Fee Waiver and/or Expense Reimbursement Arrangement Agreement |
Dear Xx. Xxxxxxxxx:
SSGA Funds Management, Inc. (“SSGA FM”), as the investment adviser to the SPDR Bloomberg Barclays Emerging Markets Local Bond ETF (the “Fund”), a series of SPDR Series Trust (the “Trust”), agrees to waive its management fee and/or reimburse certain expenses so that the Fund’s net annual operating expenses, before application of any fees and expenses not paid by SSGA FM pursuant to the Amended and Restated Investment Advisory Agreement between the Trust and SSGA FM, dated September 1, 2003 (the “Investment Advisory Agreement”), if any, are limited to the following percentage of average daily net assets on an annual basis for the duration referenced (the “Expiration Date”):
| Fund Name |
Current Management Fee |
Expense Limitation |
Effective Date |
Expiration Date |
||||||||||||
| SPDR Bloomberg Barclays Emerging Markets Local Bond ETF |
0.40 | % | 0.30 | % | 5/7/2019 | 10/31/2020 | ||||||||||
The above stated fee waiver and/or expense reimbursement (the “Fee Waiver”): (i) supersedes any prior Fee Waiver for the Fund, (ii) is subject to the terms and conditions of the Investment Advisory Agreement, (iii) does not provide for the recoupment by SSGA FM of any amounts waived and/or reimbursed, and (iv) may only be terminated during the relevant period with the approval of the Fund’s Board of Trustees.
Additionally, per this arrangement, SSGA FM and the Fund’s Officers are authorized to take such actions as they deem necessary and appropriate to continue the above stated Fee Waiver for additional periods, including of one or more years, after the Expiration Date of Fee Waiver.
If this arrangement is acceptable to you, please sign below to indicate your acceptance and agreement and return a copy of this letter to me.
Sincerely,
SSGA FUNDS MANAGEMENT, INC.
| By: | /s/ Xxxxx X. Xxxxxxx | |
| Xxxxx X. Xxxxxxx Director and President |
Accepted and Agreed:
SPDR SERIES
TRUST,
ON BEHALF OF ITS SERIES,
SPDR BLOOMBERG BARCLAYS EMERGING MARKETS LOCAL BOND ETF
| By: | /s/ Xxxxx Xxxxxxxxx | |
| Xxxxx Xxxxxxxxx Treasurer |
