AMENDMENT NO. 3 EXPENSE LIMITATION AGREEMENT

Exhibit (h)(2)(iii)

1290 FUNDS

AMENDMENT XX. 0

XXXXXXX XXXXXXXXXX XXXXXXXXX

Xxxxxxxxx Xx. 0, effective July 11, 2022 (“Amendment No. 3”) to the Expense Limitation Agreement dated August 1, 2021 (the “Agreement”), between Equitable Investment Management Group, LLC (the “Adviser”), Equitable Investment Management, LLC (“the Administrator”) and 1290 Funds (the “Trust”), on behalf of each series of the Trust set forth in Schedule A attached hereto (each, a “Fund,” and collectively, the “Funds”).

The Adviser, Administrator and Trust hereby agree to modify and amend the Agreement as follows:

1. New Portfolio. Effective July 11, 2022, the 1290 Essex Small Cap Growth Fund is added to the Agreement on the terms and conditions contained in the Agreement

2. Schedule A. Schedule A to the Agreement, which sets forth the maximum annual operating expense limits, is hereby replaced in its entirety by Schedule A attached hereto.

Except as modified and amended hereby, the Agreement is hereby ratified and confirmed in full force and effect in accordance with its terms.

WITNESS WHEREOF, the parties have executed and delivered this Amendment No. 3 as of the date first above set forth.

1290 FUNDS ON BEHALF OF EACH OF ITS FUNDS						EQUITABLE INVESTMENT MANAGEMENT GROUP, LLC
By:		/s/ Xxxxx Xxxxx				By:		/s/ Xxxxxxx Xxxxxxxxx
		Xxxxx Xxxxx Chief Financial Officer and Treasurer						Xxxxxxx Xxxxxxxxx Director, Executive Vice President and Chief Investment Officer
EQUITABLE INVESTMENT MANAGEMENT, LLC
By:		/s/ Xxxxxx Xxxx
		Xxxxxx Xxxx Executive Vice President and Chief Operating Officer

SCHEDULE A

AMENDMENT NO. 3

EXPENSE LIMITATION AGREEMENT

MAXIMUM ANNUAL OPERATING EXPENSE LIMITS

This Agreement relates to the following Funds of the Trust:

Fund Name		Maximum Annual Operating Expense Limit (% of average daily net assets)
		Class A				Class T				Class R				Class I
1290 DoubleLine Dynamic Allocation Fund			0.95	%*			0.95	%*			0.95	%*			0.95	%*
1290 Essex Small Cap Growth Fund			0.88	%			0.88	%			0.88	%			0.88	%
1290 GAMCO Small/Mid Cap Value Fund			0.95	%*			0.95	%*			0.95	%*			0.95	%*
1290 High Yield Bond Fund			0.75	%			0.75	%			0.75	%			0.75	%
1290 Multi-Alternative Strategies Fund			0.85	%			0.85	%			0.85	%			0.85	%
1290 SmartBeta Equity Fund			0.85	%			0.85	%			0.85	%			0.85	%
1290 Diversified Bond Fund			0.50	%			0.50	%			0.50	%			0.50	%
1290 Retirement 2020 Fund			0.65	%*			0.65	%*			0.65	%*			0.65	%*
1290 Retirement 2025 Fund			0.65	%*			0.65	%*			0.65	%*			0.65	%*
1290 Retirement 2030 Fund			0.65	%*			0.65	%*			0.65	%*			0.65	%*
1290 Retirement 2035 Fund			0.65	%*			0.65	%*			0.65	%*			0.65	%*
1290 Retirement 2040 Fund			0.65	%*			0.65	%*			0.65	%*			0.65	%*
1290 Retirement 2045 Fund			0.65	%*			0.65	%*			0.65	%*			0.65	%*
1290 Retirement 2050 Fund			0.65	%*			0.65	%*			0.65	%*			0.65	%*
1290 Retirement 2055 Fund			0.65	%*			0.65	%*			0.65	%*			0.65	%*
1290 Retirement 2060 Fund			0.65	%*			0.65	%*			0.65	%*			0.65	%*

* For purposes of calculating the Maximum Annual Operating Expense Limit, Acquired Fund Fees and Expenses are included in Fund Operating Expenses.