HOTCHKIS AND WILEY FUNDS ADDENDUM TO OPERATING EXPENSE LIMITATION AGREEMENT
HOTCHKIS
AND WILEY FUNDS
ADDENDUM
TO
THIS
ADDENDUM TO EXPENSE CAP AGREEMENT (“Addendum”), effective as of February 5,
2009, is entered into between Hotchkis and Wiley Capital Management, LLC, as
investment advisor (“Advisor”), and the Hotchkis and Wiley Funds (the “Funds”)
on behalf of the Hotchkis and Wiley High Yield Fund (the “High Yield
Fund”).
WHEREAS, pursuant to an Operating
Expense Limitation Agreement dated July 24, 2004, as amended (the “Agreement”),
the Advisor has agreed with the Funds to limit the annual operating expenses of
the Hotchkis and Wiley Large Cap Value Fund, Hotchkis and Wiley Mid-Cap Value
Fund, Hotchkis and Wiley Small Cap Value Fund and Hotchkis and Wiley All Cap
Value Fund through October 31, 2009; and
WHEREAS, the Advisor and the Funds
desire to add the High Yield Fund to the Agreement; and
WHEREAS, shareholders of the High Yield
Fund will benefit from any expense limits agreed to by the Advisor;
NOW,
THEREFORE, in consideration of the premises and the mutual covenants and
agreements in this Addendum, the parties, intending to be legally bound, hereby
agree as follows:
|
A.
|
Addition of the High
Yield Fund. The Advisor agrees to limit the annual
operating expenses of the High Yield Fund as set forth below through March
31, 2010 and thereafter may change any of them only upon 30 days’ prior
notice to the Fund’s shareholders.
|
|
Expense
Limit
(as
a percentage of
average net assets)
|
|||
|
Class I
|
Class A
|
Class C
|
|
|
0.70%
|
0.95%
|
1.70%
|
|
|
B.
|
Confirmation of
Agreement. Except as expressly provided in this
Addendum, the Agreement shall remain in full force and effect and is
hereby ratified and confirmed.
|
IN
WITNESS WHEREOF, the parties have executed this Addendum effective as of the
date first above written.
|
Hotchkis
and Wiley Capital Management, LLC
/s/ Xxxx Xxxxx
Xxxxx
Xxxx
Xxxxx Xxxxx
Chief
Operating Officer
|
Hotchkis
and Wiley Funds
/s/ Xxxx Xxxxx
Xxxxx
Xxxx
Xxxxx Xxxxx
President
|
