September 4, 2020 FPA Crescent Fund 11601 Wilshire Blvd., Ste. 1200 Los Angeles, CA 90025 RE: Expense Limit Agreement — FPA Crescent Fund Dear Ladies and Gentlemen:Fpa Funds Trust • September 4th, 2020 • California
FPA Crescent Fund (the “Fund”), a series of the FPA Funds Trust, a Delaware business trust, has entered into an agreement with First Pacific Advisors, LP (“Adviser”) whereby Adviser provides investment advisory services to the Fund and each class of its shares (the “Investment Advisory Agreement”). The Fund has also entered into an agreement with the Adviser whereby the Adviser provides administrative services to the Fund and each class of its shares (the “Administrative Services Agreement”).
FEE WAIVER AGREEMENT FPA Funds Trust 11601 Wilshire Blvd., Ste. 1200 Los Angeles, CA 90025 September 4, 2020Fee Waiver Agreement • September 4th, 2020 • Fpa Funds Trust
FPA FUNDS TRUST ADMINISTRATIVE SERVICES AGREEMENTAdministrative Services Agreement • September 4th, 2020 • Fpa Funds Trust • California
WHEREAS, the series, as set forth in Exhibit A hereto (each a “Fund”), of the FPA Funds Trust (the “Trust”), a Delaware business trust registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company that offers multiple classes, as set forth in Exhibit A hereto (each a “Class”), of shares of beneficial interest (collectively, the “Shares”);
