Expense Limitation Agreement February 28, 2012
February 28, 2012
To:
000 Xxxxxxxxxxxxx Xxxx
Xxxxxxxx X, 0xx Xxxxx
Xxxxxx Xxxxx, XX 00000
Dear Board Members:
You have engaged us to act as the sole investment adviser to the Catalyst Funds listed on Exhibit A (each a “Fund” and together the “Funds”) pursuant to a Management Agreement dated as of July 31, 2006 (the “Agreement”) as amended as of February 28, 2012.
Effective immediately, we hereby contractually agree to waive management fees and/or reimburse the Funds for expenses they incur, but only to the extent necessary to maintain each Fund’s total annual operating expenses (excluding brokerage costs; borrowing costs such as (a) interest and (b) dividends on securities sold short; taxes; underlying fund expenses; 12b-1 distribution plan expenses, and extraordinary expenses) at the percentage of average daily net assets and term as stated in Exhibit A for each Fund.
Any waiver or reimbursement by us is subject to repayment by the applicable Fund within the three fiscal years following the fiscal year in which the expenses occurred, if the Fund is able to make the repayment without exceeding its current expense limitations and the repayment is approved by the Board of Trustees.
Very truly yours, CATALYST CAPITAL ADVISORS LLC By: /s/ Xxxxx Xxxxxxxx Xxxxx Xxxxxxxx, Managing Member |
The foregoing Agreement is hereby accepted.
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By: /s/ Xxxxxx Xxxxxxxx Xxxxxx Xxxxxxxx, Trustee |
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Exhibit A
(Amended February 28, 2012)
Fund | Percent of Net Assets | Term |
Catalyst Value Fund | 1.30 | 10/31/12 |
Catalyst Premium Long-Short Fund | 1.30 | 10/31/12 |
Catalyst Large Cap Value Fund | 1.30 | 10/31/12 |
Catalyst International Value Fund | 1.30 | 10/31/12 |
Catalyst/SMH High Income Fund | 1.20 | 10/31/12 |
Catalyst/SMH Total Return Income Fund | 1.30 | 10/31/12 |
Catalyst/Xxxxxxxxx Growth of Income Fund | 1.30 | 10/31/12 |
Catalyst/MAP Global Total Return Income Fund | 1.30 | 10/31/12 |
Catalyst/MAP Global Capital Appreciation Fund | 1.30 | 10/31/12 |
Catalyst/CP Core Equity Fund | 1.10 | 12/31/12 |
Catalyst/CP World Equity Fund | 1.10 | 12/31/12 |
Catalyst/CP Focus Large Cap Fund | 1.10 | 12/31/12 |
Catalyst/CP Focus Mid Cap Fund | 1.25 | 12/31/12 |
Catalyst Insider Long-Short Fund | 1.50 | 10/31/13 |
Catalyst Event Arbitrage Fund | 1.50 | 10/31/13 |
Catalyst/Xxxxx Tactical Allocation Fund | 1.50 | 10/31/13 |
Catalyst/Xxxxx Hedged Premium Return Fund | 1.50 | 10/31/13 |
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