EXPENSE LIMIT AGREEMENT
Expense Limit Agreement made as of November 20, 2000, between Pioneer
Investment Management, Inc. (PIM) and Pioneer Strategic Income Fund (the
"Fund").
Whereas PIM wishes to reduce the expenses of the Fund until the Fund
achieves a certain level of assets; and
Whereas the Fund wishes to have PIM enter into such an agreement;
Now therefor the parties agree as follows:
SECTION 1. PIM agrees to waive its fees and/or to reimburse the Fund
for its ordinary operating expenses in order that the total expenses of the Fund
(other than extraordinary expenses, such as litigation, taxes, brokerage
commissions, etc.) with respect to Class A shares do not exceed 0.75% per annum
of average daily net assets attributable to Class A shares. PIM also agrees to
waive its fees and/or reimburse the Fund-wide expenses attributable to Class B,
Class C and Class Y shares to the same extent that such expenses are reduced for
Class A shares. In no event, shall PFD be required to waive or PIM reimburse any
fees payable under the Fund's Rule 12b-1 plans.
SECTION 2. PIM may terminate or modify the fee waiver and expense
reimbursement agreement referred to in Section 1 hereof only in accordance with
this Agreement. PIM agrees that the fee waiver and expense reimbursement
agreement referred to in Section 1 shall not be modified or terminated during
the fiscal year in which this Agreement is executed. PIM shall be entitled to
modify or terminate the fee waiver and expense reimbursement agreement referred
to in Section 1 (as it may subsequently have been modified) with respect to any
fiscal year that commences subsequent to the date this Agreement is executed if,
but only if, PIM elects to modify or terminate such expense limitation with
respect to such subsequent fiscal year and such election is made prior to the
effective date of the Fund's post-effective amendment to its Registration
Statement on Form N-1A to incorporate the Fund's financial statements; provided
that the fee waiver and expense reimbursement agreement shall remain in effect
at all times until the Fund's then current prospectus is amended or supplemented
to reflect the termination or modification of the fee waiver and expense
reimbursement agreement. The election by PIM referred to in the preceding
sentence shall not be subject to the approval of the Fund or its Board of
Trustees, but PIM shall notify the Board of Trustees in advance of the
termination or modification of any such expense limitation.
SECTION 3. This Agreement shall be governed by the laws of the State of
Delaware.
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In witness whereof, the parties hereto have caused this Agreement to be
signed as of the 20th day of November 2000.
PIONEER STRATEGIC PIONEER INVESTMENT
INCOME FUND MANAGEMENT, INC.
BY: BY:
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