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EXHIBIT 99.(H)(4)
AMENDMENT TO EXPENSE CAP AGREEMENT
THIS AMENDMENT TO EXPENSE CAP AGREEMENT ("Amendment"), effective as of March 1,
2000, is entered into between Hotchkis and Wiley, as investment advisor
("Advisor"), and Hotchkis and Wiley Funds (individually, a "Fund" and
collectively, the "Funds").
WHEREAS, pursuant to an Expense Cap Agreement dated January 26, 1999 (the
"Agreement"), the Advisor agreed to limit expenses of certain of the Funds
through February 29, 2000; and
WHEREAS, the Advisor and the Funds desire to extend the period of such
expense limits; and
WHEREAS, shareholders of the Funds benefit from any expense limits agreed
to by the Advisor;
NOW, THEREFORE, in consideration of the premises and the mutual covenants and
agreements in this Amendment, the parties, intending to be legally bound, hereby
agree as follows:
A. Extension of Period of Expense Limits. The Advisor agrees to continue the
expense limits set forth in the Agreement through February 28, 2001.
B. Imposition of Expense Limits. The Advisor agrees to limit the annual
operating Expenses of the Small Cap Fund to 1.25% of the average net
assets of the Investor Class and to 1.50% of the average net assets of the
Distributor Class through February 28, 2001.
C. Confirmation of Agreement. Except as expressly provided in this Amendment,
the Agreement shall remain in full force and effect and is hereby ratified
and confirmed.
IN WITNESS WHEREOF, the parties have executed this Amendment effective as of the
date first above written.
Hotchkis and Wiley, Hotchkis and Wiley Funds
a division of Xxxxxxx Xxxxx
Asset Management, L.P.
/s/ /s/
Xxxxxxx Xxxxxx Xxxxx X. Xxxxxx
Co-Head President
