Legg Mason Partners Fund Advisor, LLC
exhibit (d)(7)
Xxxx Xxxxx Partners Fund Advisor, LLC
000 Xxxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
July 10, 2009
Xxxx Xxxxx Partners Income Trust
00 Xxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Re: |
Management Agreement, dated as of April 13, 2007, between Xxxx Xxxxx Partners Income Trust (the “Trust”) and Xxxx Xxxxx Partners Fund Advisor, LLC (the “Manager”) with respect to the Trust’s series Xxxx Xxxxx Partners Corporate Bond Fund (formerly Xxxx Xxxxx Partners Investment Grade Bond Fund) (the “Fund”) |
Ladies and Gentlemen:
The Manager hereby confirms its agreement, in connection with the acquisition by the Fund of Xxxx Xxxxx Investment Grade Income Portfolio (the “Reorganization”), to a reduction of the fee payable under the Management Agreement to an annual rate of 0.55% of the average daily net assets of the Fund. This reduction will become effective, however, only upon consummation of the Reorganization.
Except to the extent expressly set forth herein, this letter shall not be deemed to otherwise amend or modify any term of the Management Agreement.
Please sign below to acknowledge your consent and agreement to the above.
XXXX XXXXX PARTNERS FUND ADVISOR, LLC | ||
By: | /s/ R. Xxx Xxxxxx | |
Name: | R. Xxx Xxxxxx | |
Title: | President |
Consented and Agreed to:
XXXX XXXXX PARTNERS INCOME TRUST, with respect to its series Xxxx Xxxxx Partners Corporate Bond Fund | ||
By: | /s/ R. Xxx Xxxxxx | |
Name: | R. Xxx Xxxxxx | |
Title: | President |