Exhibit (h)(iv)
EXPENSE LIMITATION AGREEMENT
This EXPENSE LIMITATION AGREEMENT is made as of the 1st day of January,
2002 by and between DEUTSCHE INVESTORS FUNDS, INC., a Maryland Corporation (the
"Corporation") on behalf of GLOBAL BIOTECHNOLOGY FUND, (the "Fund"), and
INVESTMENT COMPANY CAPITAL CORP., a Maryland corporation ("ICCC"), with respect
to the following:
WHEREAS, ICCC serves as the Fund's Investment Advisor (the "Advisor")
pursuant to an Investment Advisory Agreement dated March 28, 2001, and the
Fund's Administrator pursuant to a Master Services Agreement dated September 1,
2000 (collectively, the "Agreements").
NOW, in consideration of the mutual covenants herein contained and
other good and valuable consideration, the receipt whereof is hereby
acknowledged, the parties hereto agree as follows:
1. ICCC, in its capacity as the Fund's Advisor and Fund's
Administrator, agrees to waive its fees and/ or reimburse
expenses to the extent necessary so that the ordinary annual
operating expenses for each of the classes set forth on Exhibit A,
as may be amended from time to time, do not exceed the percentage
of average daily net assets set forth on Exhibit A for the period
January 1, 2002 through December 31, 2002. For the purposes of
this Agreement, ordinary operating expenses for a Fund generally
consist of costs not specifically borne by the Advisor,
Administrator or a Fund's principal underwriter, including
investment advisory fees, administration and services fees, fees
for necessary professional services, amortization of
organizational expenses and costs associated with regulatory
compliance and maintaining legal existence and shareholder
relations, but excluding: (a) transactions costs (such as
brokerage commissions and dealer and underwriter spreads); (b)
interest charges on fund borrowings; (c) taxes; (d) litigation
and indemnification costs; and (e) extraordinary expenses.
Extraordinary expenses are those that are unusual or expected to
recur only infrequently, including, but not limited to (i)
expenses of the reorganization, restructuring or merger of a Fund
or class or the acquisition of all or substantially all of the
assets of another fund or class; (ii) expenses of holding, and
soliciting proxies for, a meeting of shareholders of a Fund or
class (except to the extent relating to routine items such as the
election of trustees or the approval of independent public
accountants); and (iii) expenses of converting to a new
custodian, transfer agent or other service provider.
2. This Agreement shall be effective as to the Fund as of the date the
Fund commence operations after this Agreement shall have been approved
by the Board of Directors of the Corporation with respect to the Fund
and, unless sooner terminated as provided herein, shall continue in
effect as to the Fund for the stated period and may be extended for
another period, provided such continuance is specifically approved at
least annually by the vote of a majority of the Board of Directors of
the Corporation. Upon the termination of any of the Agreements, this
Agreement shall automatically terminate with respect to the Fund.
3. Any question of interpretation of any term or provision of this
Agreement having a counterpart in or otherwise derived from a term or
provision of the Investment Company Act of 1940, as amended (the "1940
Act") shall be resolved by reference to such term or provision of the
1940 Act and to interpretations thereof, if any, by the United States
Courts or in the absence of any controlling decision of any such
court, by rules, regulations or orders of the Securities and Exchange
Commission ("SEC") issued pursuant to said Act. In addition, where the
effect of a requirement of the 1940 Act reflected in any provision of
this Agreement is revised by rule, regulation or order of the SEC,
such provision shall be deemed to incorporate the effect of such rule,
regulation or order. Otherwise the provisions of this Agreement shall
be interpreted in accordance with the laws of Maryland.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed in duplicate by their respective officers as of the day and year first
above written.
DEUTSCHE INVESTORS FUNDS, INC.
On behalf of Global Biotechnology Fund
Attest: /s/ Xxxxxxx Xxxxxxxx By: /s/ Xxx X. Xxxxxx
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Name: Xxxxxxx Xxxxxxxx Name: Xxx X. Xxxxxx
Title: Secretary
INVESTMENT COMPANY CAPITAL CORP.
Attest: /s/ Xxxxxxx Xxxxxxxx By: /s/ Xxxxxxx X. Xxxx
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Name: Xxxxxxx Xxxxxxxx Name: Xxxxxxx X. Xxxx
Title: President
Exhibit A
Ordinary Fund Operating
Expenses
(as a percentage of average
Fund daily net assets)
Global Biotechnology Fund - Class A Shares 1.50%
Global Biotechnology Fund - Class B Shares 2.25%
Global Biotechnology Fund - Class C Shares 2.25%
Global Biotechnology Fund - Institutional Class 1.25%
