EXPENSE LIMITATION AGREEMENT FOR THE HICKORY FUND
FOR THE HICKORY FUND
THIS AGREEMENT, effective as of December 31, 2019, is made and entered into by and between the Xxxxx Funds, a Delaware statutory trust (the “Trust”), on
behalf of its series the Hickory Fund (the “Fund”), and Xxxxx Investment Management, Inc. (the “Adviser”).
WHEREAS, the Adviser has been appointed the investment adviser and manager of the Fund pursuant to an Amended Management and Investment Advisory Agreement
between the Trust, on behalf of the Fund, and the Adviser (the “Advisory Agreement”); and
WHEREAS, the Adviser has been appointed the administrator with respect to the Fund pursuant to an Amended Administration Agreement
between the Trust, on behalf of the Fund, and the Adviser; and
WHEREAS, the Trust and the Adviser desire to enter into the arrangements described herein relating to certain expenses of the Fund;
NOW, THEREFORE, the Trust and the Adviser hereby agree as follows:
| 1. |
Through July 31, 2020, the Adviser agrees to limit its fees and/or reimburse other expenses of the Fund to the extent necessary to limit the total operating expenses of the Fund (exclusive of brokerage costs, interest, taxes and divided
expenses, acquired fund fees and expenses and extraordinary expenses) to an annual rate of 1.09%, as a percentage of the average daily net assets of the Fund.
|
| 2. |
Notice is hereby given that this Agreement is executed by the Trust on behalf of the Fund by an officer of the Trust as an officer and not individually and that the obligations of or arising out of this Agreement are not binding upon any
of the Trustees, officers or shareholders individually but are binding only upon the assets and property belonging to the Fund.
|
| 3. |
This Agreement may only be amended or terminated by the Trustees of the Trust.
|
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.
XXXXX FUNDS XXXXX INVESTMENT MANAGEMENT, INC.
on behalf of its series the
Hickory Fund
By: /s/ Xxxxxxx X. Xxxxx By: /s/ Xxxxx X. Xxxxx
Name: Xxxxxxx X. Xxxxx Name: Xxxxx X. Xxxxx
Title: President Title: President
