0000357235-07-000195 Sample Contracts

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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 and Expense Cap Agreement Ladies and Gentlemen: Legg Mason Fund Adviser, Inc....
Waiver and Expense Cap Agreement • February 26th, 2007 • Legg Mason Light Street Trust Inc

Legg Mason Fund Adviser, Inc. ("LMFA") hereby agrees that it or an affiliate will waive its compensation (and, to the extent necessary, bear other expenses) through February 29, 2008, to the extent that expenses 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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