0000357235-06-000266 Sample Contracts

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FORM OF
Credit Agreement • February 28th, 2006 • Legg Mason Light Street Trust Inc
FEE WAIVER AND EXPENSE CAP AGREEMENT Legg Mason Light Street Trust, Inc. 100 Light Street Baltimore, Maryland 21202 Re: Legg Mason Classic Valuation Fund - Fee Waiver/Expense Agreement Ladies and Gentlemen: Legg Mason Fund Adviser, Inc. ("LMFA")...
Waiver and Expense Cap Agreement • February 28th, 2006 • Legg Mason Light Street Trust Inc

Legg Mason Fund Adviser, Inc. ("LMFA") hereby agrees that it will waive its compensation (and, to the extent necessary, bear other expenses) through February 28, 2007, to the extent that expenses of each class of the Legg Mason Classic Valuation Fund ("Fund") (exclusive of interest, taxes, brokerage commissions, and extraordinary expenses) would exceed an annual rate of 1.95% for Primary Class and 0.95% for Institutional Class.

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