DREMAN VALUE MANAGEMENT, LLCInvestment Advisory Agreement • April 11th, 2011 • Dreman Contrarian Funds
Effective as of March 1, 2011 we hereby agree to waive our management fee and/or reimburse expenses of the Fund, but only to the extent necessary so that the Fund’s total annual operating expenses excluding brokerage fees and commissions; borrowing costs (such as (a) interest and (b) dividend expenses on securities sold short); any 12b-1 fees, taxes; extraordinary expenses; and any indirect expenses (such as expenses incurred by other investment companies in which the Fund may invest); do not exceed 0.70% of the Fund’s average daily net assets. This Agreement shall continue in place until the earlier to occur of February 28, 2012, or such date as the Fund is terminated or liquidated in accordance with the provisions of the Declaration of Trust or Bylaws. We understand that we may not terminate this Agreement prior to such date, except that we may voluntarily agree to lower the expense cap.
