EXHIBIT 23(h)(2)
AGREEMENT
TO WAIVE FEES AND REIMBURSE EXPENSES
THIS AGREEMENT is made this 1st day of January, 2003, between Xxxxx
International Series, Inc, a Maryland corporation ("DIS") and Xxxxx Selected
Advisers, L.P., a limited partnership organized under the laws of Colorado
("DSA").
RECITALS:
WHEREAS, DIS is a registered open-end management investment company with two
authorized series (Xxxxx New International Total Return Fund and Xxxxx Global
Value Fund); and
WHEREAS, DIS offers four Classes of shares (A, B, C, and Y); and
WHEREAS, DSA serves as the investment adviser for DIS; and
WHEREAS, both DIS and DSA agree it is important that the actual expenses of
Xxxxx Global Value Fund not exceed a specified percentage (Class A shares:
1.50%, Class B shares: 2.50%, Class C shares: 2.50%, and Class Y shares: 1.25%)
of net assets on an annual basis;.
NOW, THEREFORE, the parties hereby agree as follows:
1. Expense Caps. DSA agrees to waive fees and reimburse the expenses of each
authorized Class of shares of Xxxxx Global Value Fund to the extent it is
necessary to ensure that the actual expense incurred by any authorized Class
of shares, after recognizing the benefits of custody or other credits. fee
waivers and expense reimbursements, not exceed (Class A shares: 1.50%, Class
B shares: 2.50%, Class C shares: 2.50%, and Class Y shares: 1.25%) of net
assets.
2. Duration of Agreement This Agreement shall be effective for an initial
period beginning on the date above stated and ending on February 1, 2004.
This Agreement shall automatically renew for additional one year periods if
not terminated, in writing, by either party before February 1st of each
year.
IN WITNESS WHEREOF, the parties have duly executed and sealed this Agreement,
all as of the date first written above.
Xxxxx International Series, Inc.
By:
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Xxxxxx Xxxx
Vice President
Xxxxx Selected Advisers, L.P.
By Xxxxx Investments, LLC (General Partner)
By:
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Xxxxxx Xxxx
Vice President
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