EXHIBIT 23(h)(3)
AGREEMENT
TO WAIVE FEES AND REIMBURSE EXPENSES
XXXXX GLOBAL FUND
CLASS A, B, C, Y SHARES
THIS AGREEMENT is made this 19th day of September, 2006, between Xxxxx New York
Venture Fund, Inc, a Maryland corporation ("DNYVF") and Xxxxx Selected Advisers,
L.P., a limited partnership organized under the laws of Colorado ("DSA").
RECITALS:
WHEREAS, DNYVF is a registered open-end management investment company with four
authorized series (Xxxxx New York Venture Fund, Xxxxx Research Fund, Xxxxx
Global Fund, and Xxxxx Global Fund); and
WHEREAS, DNYVF and DSA have entered into an agreement dated September 14, 2004
whereby DSA agredd to waive fees and reimburse expenses for Xxxxx Global Fund
Class A, B, and C, shares; and
WHEREAS, Xxxxx Global Fund intends to offers four Classes of shares to the
public (A, B, C and Y,); and
WHEREAS, DSA serves as the investment adviser for DNYVF; and
WHEREAS, both DNYVF and DSA agree it is important that the actual expenses of
Xxxxx Global Fund not exceed a specified percentage (Class A shares: 1.30%,
Class B shares: 2.30%, Class C shares: 2.30%, Class Y shares: 1.05% of net
assets on an annual basis;.
NOW, THEREFORE, the parties hereby agree as follows:
1. Terminate Former Agreement The Agreement dated September 14, 2004 is hereby
terminated by mutual consent.
2. Expense Caps. DSA agrees to waive fees and reimburse the expenses of each
authorized Class of shares of Xxxxx Global 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: 1.30%, Class B shares: 2.30%, Class
C shares: 2.30%, Class Y shares; 1.05%) of net assets.
1. Duration of Agreement This Agreement shall be effective for an initial
period beginning on the date above stated and ending on March 1, 2008. This
Agreement shall automatically renew for additional one year periods if not
terminated, in writing, by either party before March 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 New York Venture Fund, Inc.
By:
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Xxxx Xxxxxx
Vice President
-1-
Xxxxx Selected Advisers, L.P.
By Xxxxx Investments, LLC (General Partner)
By:
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Xxxxxx Xxxx
Vice President
-2-
