Exhibit (h)
00 XXXXX XXXXX EXPENSE CONTRACT
BETWEEN
FIDELITY NEW YORK MUNICIPAL TRUST II:
FIDELITY NEW YORK AMT TAX-FREE MONEY MARKET FUND
AND
FIDELITY MANAGEMENT & RESEARCH COMPANY
This 35 Basis Point Expense Contract, dated as of April 1, 2007 (the "Agreement"), is made and entered into by and between
Fidelity New York Municipal Trust II, a Delaware statutory trust which may issue one or more series of shares of beneficial interest
(the "Trust"), on behalf of Fidelity New York AMT Tax-Free Money Market Fund (the "Fund"), and Fidelity Management &
Research Company, a Massachusetts corporation (the "Manager").
WHEREAS, the Trust, on behalf of the Fund, and the Manager have entered into a Management Contract, amended and
restated as of April 1, 2007 (the "Management Agreement"), pursuant to which the Manager has agreed to reduce the fee paid to the
Manager thereunder and to pay certain expenses of the Fund in return for an annualized 20 basis points management fee;
WHEREAS, the Management Agreement provides that the Manager will pay certain expenses of the Fund out of the
management fee but is not obligated to pay expenses allocable to any class; and
WHEREAS, the Trust and the Manager have determined that it is appropriate and in the interests of the Fund and its
shareholders to maintain the expenses of the currently existing class of the Fund (hereinafter the "Retail Class") at a fixed annualized
expense rate not to exceed 35 basis points.
NOW THEREFORE, the parties hereto agree as follows:
1. EXPENSE PROVISION. Until this agreement shall be amended or terminated pursuant to Section 3 or Section 6 hereof,
the Manager agrees to pay or provide for the payment of any fee or expense allocated at the class-level and attributable to the Retail
Class, such that the ordinary operating expenses incurred by the Retail Class in any fiscal year (excluding interest, taxes, securities
lending costs, brokerage commissions, and extraordinary expenses) will not exceed 0.35% on an annual basis. For avoidance of
doubt, it is understood that this agreement shall not apply to any other class of the Fund other than the Retail Class.
2. EXPENSE CREDITS. Through arrangements with the Fund's custodian and transfer agent, credits realized as a result of
uninvested cash balances are used to reduce custodian, transfer agent, and pricing and bookkeeping expenses of the Fund (or a class of
the Fund). This Agreement in no way shall limit the use of such credits by the Fund (or any class of the Fund), nor shall it affect the
Manager's obligations hereunder.
3. AMENDMENTS. This Agreement may not be amended to increase the fees or expenses payable by the Retail Class
except by a vote of a majority of the Board of Trustees of the Trust and by a vote of a majority of the outstanding voting securities of
the Retail Class; provided that the Trust may amend Section 1 hereof without shareholder approval if the Board of Trustees determines
that any payments by or on behalf of the Manager described in Section 1 hereof may create a preferential dividend for federal income
tax purposes; and further provided, that all other amendments may be approved by mutual consent of the parties without a shareholder
vote.
4. INTERPRETATION. Nothing herein contained shall be deemed to require the Trust or the Retail Class to take any action
contrary to the Trust's Trust Instrument or other organizational document, or any applicable statutory or regulatory requirement,
including without limitation any requirements under the Investment Company Act of 1940 (the "1940 Act"), to which it is subject or
by which it is bound, or to relieve or deprive the Trust's Board of Trustees of its responsibility for or control of the conduct of the
affairs of the Trust or the Retail Class.
5. DEFINITIONS. Any question of interpretation of any term or provision of this Agreement having a counterpart in or
otherwise derived from the terms and provisions of the Management Agreement between the Trust and the Manager, or the 1940 Act,
shall have the same meaning as and be resolved by reference to the Management Agreement.
6. TERMINATION. This Agreement will automatically terminate upon termination of the Management Agreement between
the Fund and the Manager.
IN WITNESS WHEREOF, the parties have caused this Agreement to be signed by their respective officers thereunto duly
authorized, as of the date first above written.
|
\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\
|
FIDELITY NEW YORK MUNICIPAL TRUST II
|
|
|
on behalf of Fidelity New York AMT Tax-Free Money Market Fund
|
|
|
|
|
|
|
By:
|
/s/Xxxxxxxxx Xxxxxxxxxx
|
|
|
|
Xxxxxxxxx Xxxxxxxxxx
|
|
|
|
Treasurer
|
|
|
|
|
|
|
FIDELITY MANAGEMENT & RESEARCH COMPANY
|
|
|
|
|
|
|
By:
|
/s/XX Xxxxxx
|
|
|
|
XX Xxxxxx
|
|
|
|
Vice President
|
