John Hancock Investment Management Services, LLC 601 Congress Street Boston, MA 02210
Exhibit (13)(b)
Xxxx Xxxxxxx Investment Management Services, LLC 000 Xxxxxxxx Xxxxxx Xxxxxx, XX 00000 |
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September 20, 2012
To the Trustees of:
Xxxx Xxxxxxx Funds II
000 Xxxxxxxx Xxxxxx
Xxxxxx, XX 00000
Xxxx Xxxxxxx Funds II
000 Xxxxxxxx Xxxxxx
Xxxxxx, XX 00000
Re: Amended and Restated Expense Limitation Agreement and Voluntary Expense Limitation Notice
With reference to the Amended and Restated Advisory Agreement dated September 26, 2008, entered
into by and between Xxxx Xxxxxxx Investment Management Services, LLC (the “Adviser”) and Xxxx
Xxxxxxx Funds II (the “Trust”), as amended, on behalf of each series of the Trust (each, a “Fund”
and collectively, the “Funds”), we hereby notify you as follows:
1. The Adviser agrees to waive its management fee for each Fund or, to the extent necessary, bear
other expenses, as set forth in the Appendix attached hereto. As noted in the Appendix, certain
waivers are voluntary and may be terminated at any time by the Adviser upon notice to the Trust.
2. We understand and intend that you will rely on this undertaking in overseeing the preparation
and filing of Post-effective Amendments to the Registration Statement on Form N-1A for the Trust
and the Funds with the Securities and Exchange Commission and in accruing each Fund’s expenses for
purposes of calculating its net asset value per share and for other purposes permitted under Form
N-1A and/or the Investment Company Act of 1940, as amended, and we expressly permit you so to rely.
Very truly yours,
XXXX XXXXXXX INVESTMENT MANAGEMENT SERVICES, LLC
By: |
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Title: Chief Financial Officer |
ACCEPTED BY:
XXXX XXXXXXX FUNDS II
By: |
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Title: Chief Financial Officer |
Class Level Contractual Expense Limitations
For each Fund listed in the table below, the Adviser contractually agrees to reduce its management
fee or, if necessary, make payment to each of the following share classes of the Fund in an amount
equal to the amount by which “Expenses” of the share class exceed the percentage of average annual
net assets (on an annualized basis) attributable to the class as outlined in the table below.
“Expenses” means all fund level and class specific operating expenses, excluding (a) taxes, (b)
brokerage commissions, (c) interest expense, (d) underlying fund expenses (“acquired fund fees”),
(e) litigation and indemnification expenses and other extraordinary expenses not incurred in the
ordinary course of the Fund’s business and (f) short dividend expense. The current expense
limitation agreements expire on the dates specified, unless renewed by mutual agreement of the Fund
and the Adviser based upon a determination that this is appropriate under the circumstances at that
time.
Expiration Date of | ||||||||||||||||
Fund | Class A | Class I | Class NAV | Expense Limit | ||||||||||||
International Growth Equity Fund |
1.35 | % | 1.10 | % | N/A | January 31, 2015 |
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