Letter AgreementManagement Agreement • July 22nd, 2016 • Neiman Funds
You have engaged us to act as the sole investment advisor to the Neiman Large Cap Value Fund (the “Fund”), pursuant to a Management Agreement dated November 30, 2009. Effective August 1, 2016, we hereby contractually agree to waive management fees and reimburse expenses to the extent necessary to maintain total annual operating expenses of the Fund (excluding brokerage fees and commissions, interest and other borrowing expenses, taxes, indirect expenses (such as expenses of other investment companies in which the Fund invests) and extraordinary expenses) at an amount not to exceed 1.45% of its average daily net assets for No-Load Class and at an amount not to exceed 1.45% of its average daily net assets for Class A Shares through July 31, 2017.
