Common use of Fund of Funds Clause in Contracts

Fund of Funds. XXX agrees to reimburse the Xxxxxx fund-of-funds specified below for all other expenses – exclusive of payments under the fund’s distribution plans, brokerage, interest, taxes, investment-related expenses, extraordinary expenses, acquired fund fees and expenses and payments under the fund’s investor servicing contract – through the dates indicated below, which, with the exception of Xxxxxx RetirementReady® 2060 Fund, equate to the expiration of the one-year period following the effective date of the next annual update of each fund’s registration statement. Fund Expiration Xxxxxx Retirement Income Fund Lifestyle 1 Nov. 30, 2020 Xxxxxx RetirementReady® Funds* Nov. 30, 2020 * The expense limitation for Xxxxxx RetirementReady® 2060 Fund expires on Nov. 30, 2029. Effective June 28, 2019, this contractual undertaking supersedes any prior contractual expense limitation provisions between PIM and the funds. This undertaking shall be binding upon any successors and assignees of PIM. A copy of the Declaration of Trust (including any amendments thereto) of each of The Xxxxxx Funds is on file with the Secretary of The Commonwealth of Massachusetts, and notice is hereby given that this instrument is executed on behalf of the Trustees of each Xxxxxx Fund as trustees and not individually and that the obligations of or arising out of this instrument are not binding upon any of the Trustees or officers or shareholders individually, but binding only upon the assets and property of each Xxxxxx Fund with respect to its obligations under this instrument. Furthermore, notice is given that the assets and liabilities of each series of each Xxxxxx Fund that is a series company are separate and distinct and that the obligations of or arising out of this instrument are several and not joint or joint and several and are binding only on the assets of each series with respect to its obligations under this instrument. Each fund is acting on its own behalf separately from all of the other investment companies and not jointly or jointly and severally with any of the other investment companies. Very truly yours, XXXXXX INVESTMENT MANAGEMENT, LLC By: /s/ Xxxxxx X Xxxxx__________________ Xxxxxx X. Xxxxx Vice President and Chief Legal Officer Agreed and accepted by each Xxxxxx fund listed on Schedule A, Schedule B and Schedule C By: /s/ Xxxxxxxx X. Xxxxxxx__________ Xxxxxxxx X. Xxxxxxx Executive Vice President, Principal Executive Officer, and Compliance Liaison Schedule A Xxxxxx California Tax Exempt Income Fund Xxxxxx Convertible Securities Fund Xxxxxx Diversified Income Trust Xxxxxx Asset Allocation Funds - Xxxxxx Dynamic Asset Allocation Balanced Fund - Xxxxxx Dynamic Asset Allocation Conservative Fund - Xxxxxx Dynamic Asset Allocation Growth Fund Xxxxxx Equity Income Fund Xxxxxx Funds Trust - Xxxxxx Capital Spectrum Fund - Xxxxxx Dynamic Risk Allocation Fund - Xxxxxx Emerging Markets Equity Fund - Xxxxxx Equity Spectrum Fund - Xxxxxx Fixed Income Absolute Return Fund - Xxxxxx Floating Rate Income Fund - Xxxxxx Focused Equity Fund - Xxxxxx Global Technology Fund - Xxxxxx Intermediate-Term Municipal Income Fund - Xxxxxx International Value Fund - Xxxxxx Mortgage Opportunities Fund - Xxxxxx Multi-Asset Absolute Return Fund - Xxxxxx Multi-Cap Core Fund - Xxxxxx Short Duration Bond Fund - Xxxxxx Ultra Short Duration Income Fund - Xxxxxx Short-Term Municipal Income Fund - Xxxxxx Small Cap Growth Fund Xxxxxx Xxxxxx Balanced Fund Xxxxxx Global Equity Fund Xxxxxx Global Health Care Fund Xxxxxx Global Income Trust Xxxxxx High Yield Fund Xxxxxx Income Fund Xxxxxx International Equity Fund Xxxxxx Investment Funds -Xxxxxx Government Money Market Fund -Xxxxxx Growth Opportunities Fund -Xxxxxx International Capital Opportunities Fund -Xxxxxx International Growth Fund -Xxxxxx PanAgora Managed Futures Strategy -Xxxxxx PanAgora Market Neutral Fund -Xxxxxx PanAgora Risk Parity Fund -Xxxxxx Research Fund -Xxxxxx Small Cap Value Fund -Xxxxxx Sustainable Future Fund Xxxxxx Massachusetts Tax Exempt Income Fund Xxxxxx Minnesota Tax Exempt Income Fund Xxxxxx Money Market Fund Xxxxxx Mortgage Securities Fund Xxxxxx New Jersey Tax Exempt Income Fund Xxxxxx New York Tax Exempt Income Fund Xxxxxx Ohio Tax Exempt Income Fund Xxxxxx Pennsylvania Tax Exempt Income Fund Xxxxxx Sustainable Leaders Fund Xxxxxx Tax Exempt Income Fund Xxxxxx Tax-Free Income Trust -Xxxxxx AMT-Free Municipal Fund -Xxxxxx Tax-Free High Yield Fund Schedule B Xxxxxx Variable Trust - Xxxxxx VT Diversified Income Fund - Xxxxxx VT Equity Income Fund - Xxxxxx VT Xxxxxx Xxxxxx Balanced Fund - Xxxxxx VT Global Asset Allocation Fund - Xxxxxx VT Global Equity Fund - Xxxxxx VT Global Health Care Fund - Xxxxxx VT Government Money Market Fund - Xxxxxx VT Growth Opportunities Fund - Xxxxxx VT High Yield Fund - Xxxxxx VT Income Fund - Xxxxxx VT International Equity Fund - Xxxxxx VT International Growth Fund - Xxxxxx VT International Value Fund - Xxxxxx VT Mortgage Securities Fund - Xxxxxx VT Multi-Asset Absolute Return Fund - Xxxxxx VT Multi-Cap Core Fund - Xxxxxx VT Research Fund - Xxxxxx VT Small Cap Growth Fund - Xxxxxx VT Small Cap Value Fund - Xxxxxx VT Sustainable Future Fund - Xxxxxx VT Sustainable Leaders Fund Schedule C Other Funds Subject to Expense Limitations Xxxxxx Funds Trust - Xxxxxx Dynamic Asset Allocation Equity Fund - Xxxxxx Short Term Investment Fund Xxxxxx RetirementReady Funds - Xxxxxx Retirement Income Fund Lifestyle 1 - Xxxxxx RetirementReady 2060 Fund - Xxxxxx RetirementReady 2055 Fund - Xxxxxx RetirementReady 2050 Fund - Xxxxxx RetirementReady 2045 Fund - Xxxxxx RetirementReady 2040 Fund - Xxxxxx RetirementReady 2035 Fund - Xxxxxx RetirementReady 2030 Fund - Xxxxxx RetirementReady 2025 Fund - Xxxxxx RetirementReady 2020 Fund

Fund of Funds. XXX agrees to reimburse the Xxxxxx fund-of-funds specified below for all other expenses – exclusive of payments under the fund’s distribution plans, brokerage, interest, taxes, investment-related expenses, extraordinary expenses, acquired fund fees and expenses (and in the case of Xxxxxx Retirement Income Fund Lifestyle 1 and the Xxxxxx RetirementReady® Funds, payments under the fund’s investor servicing contract contract) – through the dates indicated below, which, with the exception of Xxxxxx RetirementReady® 2060 Fund, equate to the expiration of the one-year period following the effective date of the next annual update of each fund’s registration statement. Fund Expiration Xxxxxx Global Sector Fund Feb. 28, 2020 Xxxxxx Retirement Income Fund Lifestyle 1 Nov. 30, 2020 2019 Xxxxxx RetirementReady® Funds* Nov. 30, 2020 2019 * The expense limitation for Xxxxxx RetirementReady® 2060 Fund expires on Nov. 30, 20292028. _______________________________________________ 4 The expense limitation described here for Xxxxxx Emerging Markets Equity Fund will be effective as of August 1, 2018. 5 The expense limitation described here for Xxxxxx International Growth Fund will be effective as of October 1, 2018. Effective June 2829, 20192018, this contractual undertaking supersedes any prior contractual expense limitation provisions between PIM and the funds. This undertaking shall be binding upon any successors and assignees of PIM. A copy of the Declaration of Trust (including any amendments thereto) of each of The Xxxxxx Funds is on file with the Secretary of The Commonwealth of Massachusetts, and notice is hereby given that this instrument is executed on behalf of the Trustees of each Xxxxxx Fund as trustees and not individually and that the obligations of or arising out of this instrument are not binding upon any of the Trustees or officers or shareholders individually, but binding only upon the assets and property of each Xxxxxx Fund with respect to its obligations under this instrument. Furthermore, notice is given that the assets and liabilities of each series of each Xxxxxx Fund that is a series company are separate and distinct and that the obligations of or arising out of this instrument are several and not joint or joint and several and are binding only on the assets of each series with respect to its obligations under this instrument. Each fund is acting on its own behalf separately from all of the other investment companies and not jointly or jointly and severally with any of the other investment companies. Very truly yours, XXXXXX INVESTMENT MANAGEMENT, LLC By: /s/ Xxxxxx X Xxxxx__________________ X. Xxxxx Xxxxxx X. Xxxxx Vice President and Chief Legal Officer Agreed and accepted by each Xxxxxx fund listed on Schedule A, Schedule B and Schedule C By: /s/ Xxxxxxxx X. Xxxxxxx__________ Xxxxxxx Xxxxxxxx X. Xxxxxxx Executive Vice President, Principal Executive Officer, and Compliance Liaison Schedule A Xxxxxx California Tax Exempt Income Fund Xxxxxx Convertible Securities Fund Xxxxxx Diversified Income Trust Xxxxxx Asset Allocation Funds - Xxxxxx Dynamic Asset Allocation Balanced Fund - Xxxxxx Dynamic Asset Allocation Conservative Fund - Xxxxxx Dynamic Asset Allocation Growth Fund Xxxxxx Equity Income Fund Xxxxxx Europe Equity Fund Xxxxxx Funds Trust - Xxxxxx Capital Spectrum Fund - Xxxxxx Dynamic Risk Allocation Fund - Xxxxxx Emerging Markets Equity Fund - Xxxxxx Emerging Markets Income Fund - Xxxxxx Equity Spectrum Fund - Xxxxxx Fixed Income Absolute Return Fund - Xxxxxx Floating Rate Income Fund - Xxxxxx Focused Equity Global Consumer Fund - Xxxxxx Global Financials Fund - Xxxxxx Global Industrials Fund - Xxxxxx Global Technology Fund - Xxxxxx Global Telecommunications Fund - Xxxxxx Intermediate-Term Municipal Income Fund - Xxxxxx International Value Fund - Xxxxxx Mortgage Opportunities Fund - Xxxxxx Multi-Asset Absolute Return Fund - Xxxxxx Multi-Cap Core Fund - Xxxxxx Short Duration Bond Fund - Xxxxxx Ultra Short Duration Income Fund - Xxxxxx Short-Term Municipal Income Fund - Xxxxxx Small Cap Growth Fund Xxxxxx Xxxxxx Balanced Fund Xxxxxx Global Equity Fund Xxxxxx Global Health Care Fund Xxxxxx Global Income Trust Xxxxxx Global Natural Resources Fund Xxxxxx Global Utilities Fund Xxxxxx High Yield Fund Xxxxxx Income Fund Xxxxxx International Equity Fund Xxxxxx Investment Funds -Xxxxxx - Xxxxxx Capital Opportunities Fund - Xxxxxx Government Money Market Fund -Xxxxxx - Xxxxxx Growth Opportunities Fund -Xxxxxx - Xxxxxx International Capital Opportunities Fund -Xxxxxx - Xxxxxx International Growth Fund -Xxxxxx - Xxxxxx PanAgora Managed Futures Strategy -Xxxxxx - Xxxxxx PanAgora Market Neutral Fund -Xxxxxx - Xxxxxx PanAgora Risk Parity Fund -Xxxxxx - Xxxxxx Research Fund -Xxxxxx - Xxxxxx Small Cap Value Fund -Xxxxxx - Xxxxxx Sustainable Future Fund Xxxxxx Massachusetts Tax Exempt Income Fund Xxxxxx Minnesota Tax Exempt Income Fund Xxxxxx Money Market Fund Xxxxxx Mortgage Securities Fund Xxxxxx New Jersey Tax Exempt Income Fund Xxxxxx New York Tax Exempt Income Fund Xxxxxx Ohio Tax Exempt Income Fund Xxxxxx Pennsylvania Tax Exempt Income Fund Xxxxxx Sustainable Leaders Fund Xxxxxx Tax Exempt Income Fund Xxxxxx Tax-Free Income Trust -Xxxxxx - Xxxxxx AMT-Free Municipal Fund -Xxxxxx - Xxxxxx Tax-Free High Yield Fund Schedule B Xxxxxx Variable Trust - Xxxxxx VT Capital Opportunities Fund - Xxxxxx VT Diversified Income Fund - Xxxxxx VT Equity Income Fund - Xxxxxx VT Xxxxxx Xxxxxx Balanced Fund - Xxxxxx VT Global Asset Allocation Fund - Xxxxxx VT Global Equity Fund - Xxxxxx VT Global Health Care Fund - Xxxxxx VT Global Utilities Fund - Xxxxxx VT Government Money Market Fund - Xxxxxx VT Growth Opportunities Fund - Xxxxxx VT High Yield Fund - Xxxxxx VT Income Fund - Xxxxxx VT International Equity Fund - Xxxxxx VT International Growth Fund - Xxxxxx VT International Value Fund - Xxxxxx VT Investors Fund - Xxxxxx VT Mortgage Securities Fund - Xxxxxx VT Multi-Asset Absolute Return Fund - Xxxxxx VT Multi-Cap Core Fund - Xxxxxx VT Research Fund - Xxxxxx VT Small Cap Growth Fund - Xxxxxx VT Small Cap Value Fund - Xxxxxx VT Sustainable Future Fund - Xxxxxx VT Sustainable Leaders Fund Schedule C Other Funds Subject to Expense Limitations Xxxxxx Global Sector Fund Xxxxxx Funds Trust - Xxxxxx Dynamic Asset Allocation Equity Fund - Xxxxxx Short Term Investment Fund Xxxxxx RetirementReady Funds - Xxxxxx Retirement Income Fund Lifestyle 1 - Xxxxxx RetirementReady 2060 Fund - Xxxxxx RetirementReady 2055 Fund - Xxxxxx RetirementReady 2050 Fund - Xxxxxx RetirementReady 2045 Fund - Xxxxxx RetirementReady 2040 Fund - Xxxxxx RetirementReady 2035 Fund - Xxxxxx RetirementReady 2030 Fund - Xxxxxx RetirementReady 2025 Fund - Xxxxxx RetirementReady 2020 Fund

Fund of Funds. XXX agrees to reimburse the Xxxxxx fund-of-funds specified below for all other expenses – exclusive of payments under the fund’s distribution plans, brokerage, interest, taxes, investment-related expenses, extraordinary expenses, acquired fund fees and expenses (and in the case of Xxxxxx Retirement Income Fund Lifestyle 1 and the Xxxxxx RetirementReady® Funds, payments under the fund’s investor servicing contract contract) – through the dates indicated below, which, with the exception of Xxxxxx RetirementReady® 2060 Fund, equate to the expiration of the one-year period following the effective date of the next annual update of each fund’s registration statement. 4 The expense limitation described here for Xxxxxx Emerging Markets Equity Fund will be effective as of August 1, 2018. 5 The expense limitation described here for Xxxxxx International Growth Fund will be effective as of August 1, 2018. Fund Expiration Xxxxxx Global Sector Fund Feb. 28, 2020 Xxxxxx Retirement Income Fund Lifestyle 1 Nov. 30, 2020 2019 Xxxxxx RetirementReady® Funds* Nov. 30, 2020 2019 * The expense limitation for Xxxxxx RetirementReady® 2060 Fund expires on Nov. 30, 20292028. Effective June 28January 25, 2019, this contractual undertaking supersedes any prior contractual expense limitation provisions between PIM and the funds. This undertaking shall be binding upon any successors and assignees of PIM. A copy of the Declaration of Trust (including any amendments thereto) of each of The Xxxxxx Funds is on file with the Secretary of The Commonwealth of Massachusetts, and notice is hereby given that this instrument is executed on behalf of the Trustees of each Xxxxxx Fund as trustees and not individually and that the obligations of or arising out of this instrument are not binding upon any of the Trustees or officers or shareholders individually, but binding only upon the assets and property of each Xxxxxx Fund with respect to its obligations under this instrument. Furthermore, notice is given that the assets and liabilities of each series of each Xxxxxx Fund that is a series company are separate and distinct and that the obligations of or arising out of this instrument are several and not joint or joint and several and are binding only on the assets of each series with respect to its obligations under this instrument. Each fund is acting on its own behalf separately from all of the other investment companies and not jointly or jointly and severally with any of the other investment companies. Very truly yours, XXXXXX INVESTMENT MANAGEMENT, LLC By: /s/ Xxxxxx X X. Xxxxx_______________________ Xxxxxx X. Xxxxx Vice President and Chief Legal Officer Agreed and accepted by each Xxxxxx fund listed on Schedule A, Schedule B and Schedule C By: /s/ Xxxxxxxx X. Xxxxxxx_____________ Xxxxxxxx X. Xxxxxxx Executive Vice President, Principal Executive Officer, and Compliance Liaison Schedule A Xxxxxx California Tax Exempt Income Fund Xxxxxx Convertible Securities Fund Xxxxxx Diversified Income Trust Xxxxxx Asset Allocation Funds - Xxxxxx Dynamic Asset Allocation Balanced Fund - Xxxxxx Dynamic Asset Allocation Conservative Fund - Xxxxxx Dynamic Asset Allocation Growth Fund Xxxxxx Equity Income Fund Xxxxxx Europe Equity Fund Xxxxxx Funds Trust - Xxxxxx Capital Spectrum Fund - Xxxxxx Dynamic Risk Allocation Fund - Xxxxxx Emerging Markets Equity Fund - Xxxxxx Emerging Markets Income Fund - Xxxxxx Equity Spectrum Fund - Xxxxxx Fixed Income Absolute Return Fund - Xxxxxx Floating Rate Income Fund - Xxxxxx Focused Equity Global Consumer Fund - Xxxxxx Global Financials Fund - Xxxxxx Global Industrials Fund - Xxxxxx Global Technology Fund - Xxxxxx Global Telecommunications Fund - Xxxxxx Intermediate-Term Municipal Income Fund - Xxxxxx International Value Fund - Xxxxxx Mortgage Opportunities Fund - Xxxxxx Multi-Asset Absolute Return Fund - Xxxxxx Multi-Cap Core Fund - Xxxxxx Short Duration Bond Fund - Xxxxxx Ultra Short Duration Income Fund - Xxxxxx Short-Term Municipal Income Fund - Xxxxxx Small Cap Growth Fund Xxxxxx Xxxxxx Balanced Fund Xxxxxx Global Equity Fund Xxxxxx Global Health Care Fund Xxxxxx Global Income Trust Xxxxxx Global Natural Resources Fund Xxxxxx Global Utilities Fund Xxxxxx High Yield Fund Xxxxxx Income Fund Xxxxxx International Equity Fund Xxxxxx Investment Funds -Xxxxxx Government Money Market Fund -Xxxxxx Growth Opportunities Fund -Xxxxxx International Capital Opportunities Fund -Xxxxxx International Growth Fund -Xxxxxx PanAgora Managed Futures Strategy -Xxxxxx PanAgora Market Neutral Fund -Xxxxxx PanAgora Risk Parity Fund -Xxxxxx Research Fund -Xxxxxx Small Cap Value Fund -Xxxxxx Sustainable Future Fund Xxxxxx Massachusetts Tax Exempt Income Fund Xxxxxx Minnesota Tax Exempt Income Fund Xxxxxx Money Market Fund Xxxxxx Mortgage Securities Fund Xxxxxx New Jersey Tax Exempt Income Fund Xxxxxx New York Tax Exempt Income Fund Xxxxxx Ohio Tax Exempt Income Fund Xxxxxx Pennsylvania Tax Exempt Income Fund Xxxxxx Sustainable Leaders Fund Xxxxxx Tax Exempt Income Fund Xxxxxx Tax-Free Income Trust -Xxxxxx AMT-Free Municipal Fund -Xxxxxx Tax-Free High Yield Fund Schedule B Xxxxxx Variable Trust - - Xxxxxx VT Diversified Income Fund - Xxxxxx VT Equity Income Fund - Xxxxxx VT Xxxxxx Xxxxxx Balanced Fund - Xxxxxx VT Global Asset Allocation Fund - Xxxxxx VT Global Equity Fund - Xxxxxx VT Global Health Care Fund - Xxxxxx VT Global Utilities Fund - Xxxxxx VT Government Money Market Fund - Xxxxxx VT Growth Opportunities Fund - Xxxxxx VT High Yield Fund - Xxxxxx VT Income Fund - Xxxxxx VT International Equity Fund - Xxxxxx VT International Growth Fund - Xxxxxx VT International Value Fund - Xxxxxx VT Investors Fund - Xxxxxx VT Mortgage Securities Fund - Xxxxxx VT Multi-Asset Absolute Return Fund - Xxxxxx VT Multi-Cap Core Fund - Xxxxxx VT Research Fund - Xxxxxx VT Small Cap Growth Fund - Xxxxxx VT Small Cap Value Fund - Xxxxxx VT Sustainable Future Fund - Xxxxxx VT Sustainable Leaders Fund Schedule C Other Funds Subject to Expense Limitations Xxxxxx Global Sector Fund Xxxxxx Funds Trust - Xxxxxx Dynamic Asset Allocation Equity Fund - Xxxxxx Short Term Investment Fund Xxxxxx RetirementReady Funds - Xxxxxx Retirement Income Fund Lifestyle 1 - Xxxxxx RetirementReady 2060 Fund - Xxxxxx RetirementReady 2055 Fund - Xxxxxx RetirementReady 2050 Fund - Xxxxxx RetirementReady 2045 Fund - Xxxxxx RetirementReady 2040 Fund - Xxxxxx RetirementReady 2035 Fund - Xxxxxx RetirementReady 2030 Fund - Xxxxxx RetirementReady 2025 Fund - Xxxxxx RetirementReady 2020 Fund

Fund of Funds. XXX agrees to reimburse the Xxxxxx fund-of-funds specified below for all other expenses – exclusive of payments under the fund’s distribution plans, brokerage, interest, taxes, investment-related expenses, extraordinary expenses, acquired fund fees and expenses (and in the case of Xxxxxx Retirement Income Fund Lifestyle 1 and the Xxxxxx RetirementReady® Funds, payments under the fund’s investor servicing contract contract) – through the dates indicated below, which, with the exception of Xxxxxx RetirementReady® 2060 Fund, equate to the expiration of the one-year period following the effective date of the next annual update of each fund’s registration statement. Fund Expiration Xxxxxx Global Sector Fund Feb. 28, 2020 Xxxxxx Retirement Income Fund Lifestyle 1 Nov. 30, 2020 2019 Xxxxxx RetirementReady® Funds* Nov. 30, 2020 2019 * The expense limitation for Xxxxxx RetirementReady® 2060 Fund expires on Nov. 30, 20292028. Effective June 28January 25, 2019, this contractual undertaking supersedes any prior contractual expense limitation provisions between PIM and the funds. This undertaking shall be binding upon any successors and assignees of PIM. A copy of the Declaration of Trust (including any amendments thereto) of each of The Xxxxxx Funds is on file with the Secretary of The Commonwealth of Massachusetts, and notice is hereby given that this instrument is executed on behalf of the Trustees of each Xxxxxx Fund as trustees and not individually and that the obligations of or arising out of this instrument are not binding upon any of the Trustees or officers or shareholders individually, but binding only upon the assets and property of each Xxxxxx Fund with respect to its obligations under this instrument. Furthermore, notice is given that the assets and liabilities of each series of each Xxxxxx Fund that is a series company are separate and distinct and that the obligations of or arising out of this instrument are several and not joint or joint and several and are binding only on the assets of each series with respect to its obligations under this instrument. Each fund is acting on its own behalf separately from all of the other investment companies and not jointly or jointly and severally with any of the other investment companies. Very truly yours, XXXXXX INVESTMENT MANAGEMENT, LLC By: /s/ Xxxxxx X Xxxxx__________________ X. Xxxxx Xxxxxx X. Xxxxx Vice President and Chief Legal Officer Agreed and accepted by each Xxxxxx fund listed on Schedule A, Schedule B and Schedule C By: /s/ Xxxxxxxx X. Xxxxxxx__________ Xxxxxxx Xxxxxxxx X. Xxxxxxx Executive Vice President, Principal Executive Officer, and Compliance Liaison Schedule A Xxxxxx California Tax Exempt Income Fund Xxxxxx Convertible Securities Fund Xxxxxx Diversified Income Trust Xxxxxx Asset Allocation Funds - Xxxxxx Dynamic Asset Allocation Balanced Fund - Xxxxxx Dynamic Asset Allocation Conservative Fund - Xxxxxx Dynamic Asset Allocation Growth Fund Xxxxxx Equity Income Fund Xxxxxx Europe Equity Fund Xxxxxx Funds Trust - Xxxxxx Capital Spectrum Fund - Xxxxxx Dynamic Risk Allocation Fund - Xxxxxx Emerging Markets Equity Fund - Xxxxxx Emerging Markets Income Fund - Xxxxxx Equity Spectrum Fund - Xxxxxx Fixed Income Absolute Return Fund - Xxxxxx Floating Rate Income Fund - Xxxxxx Focused Equity Global Consumer Fund - Xxxxxx Global Financials Fund - Xxxxxx Global Industrials Fund - Xxxxxx Global Technology Fund - Xxxxxx Global Telecommunications Fund - Xxxxxx Intermediate-Term Municipal Income Fund - Xxxxxx International Value Fund - Xxxxxx Mortgage Opportunities Fund - Xxxxxx Multi-Asset Absolute Return Fund - Xxxxxx Multi-Cap Core Fund - Xxxxxx Short Duration Bond Fund - Xxxxxx Ultra Short Duration Income Fund - Xxxxxx Short-Term Municipal Income Fund - Xxxxxx Small Cap Growth Fund Xxxxxx Xxxxxx Balanced Fund Xxxxxx Global Equity Fund Xxxxxx Global Health Care Fund Xxxxxx Global Income Trust Xxxxxx Global Natural Resources Fund Xxxxxx Global Utilities Fund Xxxxxx High Yield Fund Xxxxxx Income Fund Xxxxxx International Equity Fund Xxxxxx Investment Funds -Xxxxxx Government Money Market Fund -Xxxxxx Growth Opportunities Fund -Xxxxxx International Capital Opportunities Fund -Xxxxxx International Growth Fund -Xxxxxx PanAgora Managed Futures Strategy -Xxxxxx PanAgora Market Neutral Fund -Xxxxxx PanAgora Risk Parity Fund -Xxxxxx Research Fund -Xxxxxx Small Cap Value Fund -Xxxxxx Sustainable Future Fund Xxxxxx Massachusetts Tax Exempt Income Fund Xxxxxx Minnesota Tax Exempt Income Fund Xxxxxx Money Market Fund Xxxxxx Mortgage Securities Fund Xxxxxx New Jersey Tax Exempt Income Fund Xxxxxx New York Tax Exempt Income Fund Xxxxxx Ohio Tax Exempt Income Fund Xxxxxx Pennsylvania Tax Exempt Income Fund Xxxxxx Sustainable Leaders Fund Xxxxxx Tax Exempt Income Fund Xxxxxx Tax-Free Income Trust -Xxxxxx AMT-Free Municipal Fund -Xxxxxx Tax-Free High Yield Fund Schedule B Xxxxxx Variable Trust - - Xxxxxx VT Diversified Income Fund - Xxxxxx VT Equity Income Fund - Xxxxxx VT Xxxxxx Xxxxxx Balanced Fund - Xxxxxx VT Global Asset Allocation Fund - Xxxxxx VT Global Equity Fund - Xxxxxx VT Global Health Care Fund - Xxxxxx VT Global Utilities Fund - Xxxxxx VT Government Money Market Fund - Xxxxxx VT Growth Opportunities Fund - Xxxxxx VT High Yield Fund - Xxxxxx VT Income Fund - Xxxxxx VT International Equity Fund - Xxxxxx VT International Growth Fund - Xxxxxx VT International Value Fund - Xxxxxx VT Investors Fund - Xxxxxx VT Mortgage Securities Fund - Xxxxxx VT Multi-Asset Absolute Return Fund - Xxxxxx VT Multi-Cap Core Fund - Xxxxxx VT Research Fund - Xxxxxx VT Small Cap Growth Fund - Xxxxxx VT Small Cap Value Fund - Xxxxxx VT Sustainable Future Fund - Xxxxxx VT Sustainable Leaders Fund Schedule C Other Funds Subject to Expense Limitations Xxxxxx Global Sector Fund Xxxxxx Funds Trust - Xxxxxx Dynamic Asset Allocation Equity Fund - Xxxxxx Short Term Investment Fund Xxxxxx RetirementReady Funds - Xxxxxx Retirement Income Fund Lifestyle 1 - Xxxxxx RetirementReady 2060 Fund - Xxxxxx RetirementReady 2055 Fund - Xxxxxx RetirementReady 2050 Fund - Xxxxxx RetirementReady 2045 Fund - Xxxxxx RetirementReady 2040 Fund - Xxxxxx RetirementReady 2035 Fund - Xxxxxx RetirementReady 2030 Fund - Xxxxxx RetirementReady 2025 Fund - Xxxxxx RetirementReady 2020 Fund

Fund of Funds. XXX agrees to reimburse the Xxxxxx fund-of-funds specified below for all other expenses – exclusive of payments under the fund’s distribution plans, brokerage, interest, taxes, investment-related expenses, extraordinary expenses, acquired fund fees and expenses (and in the case of Xxxxxx Retirement Income Fund Lifestyle 1 and the Xxxxxx RetirementReady ® Funds, payments under the fund’s investor servicing contract contract) – through the dates indicated below, which, with the exception of Xxxxxx RetirementReady® 2060 Fund, equate to the expiration of the one-year period following the effective date of the next annual update of each fund’s registration statement. Fund Expiration Xxxxxx Global Sector Fund Feb. 28, 2019 Xxxxxx Retirement Income Fund Lifestyle 1 Nov. 30, 2020 2018 Xxxxxx RetirementReady® Funds* Nov. 30, 2020 2018 * The expense limitation for Xxxxxx RetirementReady® 2060 Fund expires on Nov. 30, 20292027. Effective June 2823, 20192017, this contractual undertaking supersedes any prior contractual expense limitation provisions between PIM and the funds. This undertaking shall be binding upon any successors and assignees of PIM. A copy of the Declaration of Trust (including any amendments thereto) of each of The Xxxxxx Funds is on file with the Secretary of The Commonwealth of Massachusetts, and notice is hereby given that this instrument is executed on behalf of the Trustees of each Xxxxxx Fund as trustees and not individually and that the obligations of or arising out of this instrument are not binding upon any of the Trustees or officers or shareholders individually, but binding only upon the assets and property of each Xxxxxx Fund with respect to its obligations under this instrument. Furthermore, notice is given that the assets and liabilities of each series of each Xxxxxx Fund that is a series company are separate and distinct and that the obligations of or arising out of this instrument are several and not joint or joint and several and are binding only on the assets of each series with respect to its obligations under this instrument. Each fund is acting on its own behalf separately from all of the other investment companies and not jointly or jointly and severally with any of the other investment companies. Very truly yours, XXXXXX INVESTMENT MANAGEMENT, LLC By: /s/ Xxxxxx X Xxxxx__________________ X. Xxxxx Xxxxxx X. Xxxxx Vice President and Chief Legal Officer Agreed and accepted by each Xxxxxx fund listed on Schedule A, Schedule B and Schedule C By: /s/ Xxxxxxxx X. Xxxxxxx__________ Xxxxxxx Xxxxxxxx X. Xxxxxxx Executive Vice President, Principal Executive Officer, and Compliance Liaison Schedule A Xxxxxx American Government Income Fund Xxxxxx Arizona Tax Exempt Income Fund Xxxxxx California Tax Exempt Income Fund Xxxxxx Convertible Securities Fund Xxxxxx Diversified Income Trust Xxxxxx Asset Allocation Funds - Xxxxxx Dynamic Asset Allocation Balanced Fund - Xxxxxx Dynamic Asset Allocation Conservative Fund - Xxxxxx Dynamic Asset Allocation Growth Fund Xxxxxx Equity Income Fund Xxxxxx Europe Equity Fund Xxxxxx Funds Trust - Xxxxxx Absolute Return 100 Fund - Xxxxxx Absolute Return 300 Fund - Xxxxxx Absolute Return 500 Fund - Xxxxxx Absolute Return 700 Fund - Xxxxxx Capital Spectrum Fund - Xxxxxx Dynamic Risk Allocation Fund - Xxxxxx Emerging Markets Equity Fund - Xxxxxx Equity Spectrum Emerging Markets Income Fund - Xxxxxx Fixed Income Absolute Return Equity Spectrum Fund - Xxxxxx Floating Rate Income Fund - Xxxxxx Focused Equity Global Consumer Fund - Xxxxxx Global Dividend Fund - Xxxxxx Global Energy Fund - Xxxxxx Global Financials Fund - Xxxxxx Global Industrials Fund - Xxxxxx Global Technology Fund - Xxxxxx Global Telecommunications Fund - Xxxxxx Intermediate-Term Municipal Income Fund - Xxxxxx International Value Fund - Xxxxxx Mortgage Opportunities Fund - Xxxxxx Multi-Asset Absolute Return Low Volatility Equity Fund - Xxxxxx Multi-Cap Core Fund - Xxxxxx Short Duration Bond Fund - Xxxxxx Ultra Short Duration Income Fund - Xxxxxx Short-Term Municipal Income Fund - Xxxxxx Small Cap Growth Fund Xxxxxx Xxxxxx Balanced Fund Xxxxxx Global Equity Fund Xxxxxx Global Health Care Fund Xxxxxx Global Income Trust Xxxxxx Global Natural Resources Fund Xxxxxx Global Utilities Fund Xxxxxx High Yield Fund Xxxxxx Income Fund Xxxxxx International Equity Fund Xxxxxx Investment Funds -Xxxxxx Capital Opportunities Fund -Xxxxxx Government Money Market Fund -Xxxxxx Growth Opportunities Fund -Xxxxxx International Capital Opportunities Fund -Xxxxxx International Growth Fund -Xxxxxx PanAgora Managed Futures Strategy -Xxxxxx PanAgora Market Neutral Fund -Xxxxxx PanAgora Risk Parity Multi-Cap Value Fund -Xxxxxx Research Fund -Xxxxxx Small Cap Value Fund -Xxxxxx Sustainable Future Xxxxxx Investors Fund Xxxxxx Massachusetts Tax Exempt Income Fund Xxxxxx Michigan Tax Exempt Income Fund Xxxxxx Minnesota Tax Exempt Income Fund Xxxxxx Money Market Fund Xxxxxx Mortgage Securities Multi-Cap Growth Fund Xxxxxx New Jersey Tax Exempt Income Fund Xxxxxx New York Tax Exempt Income Fund Xxxxxx Ohio Tax Exempt Income Fund Xxxxxx Pennsylvania Tax Exempt Income Fund Xxxxxx Sustainable Leaders Fund Xxxxxx Tax Exempt Income Fund Xxxxxx Tax-Free Income Trust -Xxxxxx AMT-Free Municipal Fund -Xxxxxx Tax-Free High Yield Fund Xxxxxx U.S. Government Income Trust Schedule B Xxxxxx Variable Trust - Xxxxxx -Xxxxxx VT Absolute Return 500 Fund -Xxxxxx VT American Government Income Fund -Xxxxxx VT Capital Opportunities Fund -Xxxxxx VT Diversified Income Fund - Xxxxxx -Xxxxxx VT Equity Income Fund - Xxxxxx -Xxxxxx VT Xxxxxx Xxxxxx Balanced Fund - Xxxxxx -Xxxxxx VT Global Asset Allocation Fund - Xxxxxx -Xxxxxx VT Global Equity Fund - Xxxxxx -Xxxxxx VT Global Health Care Fund - Xxxxxx -Xxxxxx VT Global Utilities Fund -Xxxxxx VT Growth Opportunities Fund -Xxxxxx VT High Yield Fund -Xxxxxx VT Income Fund -Xxxxxx VT International Equity Fund -Xxxxxx VT International Growth Fund -Xxxxxx VT International Value Fund -Xxxxxx VT Investors Fund -Xxxxxx VT Government Money Market Fund - Xxxxxx VT Growth Opportunities Fund - Xxxxxx VT High Yield Fund - Xxxxxx VT Income Fund - Xxxxxx VT International Equity Fund - Xxxxxx VT International Growth Fund - Xxxxxx VT International Value Fund - Xxxxxx VT Mortgage Securities Fund - Xxxxxx VT Multi-Asset Absolute Return Fund - Xxxxxx -Xxxxxx VT Multi-Cap Core Growth Fund - Xxxxxx -Xxxxxx VT Multi-Cap Value Fund -Xxxxxx VT Research Fund - Xxxxxx VT Small Cap Growth Fund - Xxxxxx -Xxxxxx VT Small Cap Value Fund - Xxxxxx VT Sustainable Future Fund - Xxxxxx VT Sustainable Leaders Fund Schedule C Other Funds Subject to Expense Limitations Xxxxxx Global Sector Fund Xxxxxx Funds Trust - Xxxxxx Dynamic Asset Allocation Equity Fund - Xxxxxx Short Term Investment Fund Xxxxxx RetirementReady Funds - Xxxxxx Retirement Income Fund Lifestyle 1 - Xxxxxx RetirementReady 2060 Fund - Xxxxxx RetirementReady 2055 Fund - Xxxxxx RetirementReady 2050 Fund - Xxxxxx RetirementReady 2045 Fund - Xxxxxx RetirementReady 2040 Fund - Xxxxxx RetirementReady 2035 Fund - Xxxxxx RetirementReady 2030 Fund - Xxxxxx RetirementReady 2025 Fund - Xxxxxx RetirementReady 2020 Fund