Exhibit (h)(7)(r)
Exhibit (h)(7)(r)
May 1, 2010
Forward Management, LLC
000 Xxxxxxxxxx Xxxxxx, 00xx Xxxxx
San Francisco, California 94104
| Re: | Advisory Fee Waiver |
This letter agreement (the “Agreement”) confirms the advisory fee waiver between Forward Funds (the “Trust”), on behalf of each of the series listed on Schedule A (each a “Fund” and collectively, the “Funds”), and Forward Management, LLC (the “Advisor”) with respect to the portfolio management of the Funds.
| 1. | Advisory Expense Waiver. The Advisor has agreed to waive the entire amount of the advisory fee payable to the Advisor under the Investment Management Agreement, dated May 1, 2005 and amended and restated as of January 8, 2008 and March 5, 2008 (the “Investment Management Agreement”), between the Trust and the Advisor, as set forth in the attached Schedule A. |
| 2. | Term and Termination. This Agreement shall become effective on May 1, 2010 and shall continue in effect until April 30, 2011. This Agreement will terminate automatically in the event of the termination of the Investment Management Agreement. |
| 3. | Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of California, provided that nothing in this Agreement shall be construed in a manner inconsistent with the Investment Company Act of 1940, as amended, or the Investment Advisers Act of 1940, as amended. |
Please indicate your approval of this Agreement by signing and returning a copy of this letter to the Trust.
| FORWARD FUNDS | FORWARD MANAGEMENT, LLC | |||||||
| By: | /s/ X. Xxxx Xxxx, Xx. |
By: | /s/ Xxxxxxx X. Xxxxxx | |||||
| Name: | X. Xxxx Xxxx, Xx. | Name: | Xxxxxxx X. Xxxxxx | |||||
| Title: | President | Title: | President | |||||
1
SCHEDULE A
| FUND |
WAIVER AMOUNT* | |
| Forward Aggressive Growth Allocation Fund | 10 basis points | |
| Forward Balanced Allocation Fund | 10 basis points | |
| Forward Growth Allocation Fund | 10 basis points | |
| Forward Growth & Income Allocation Fund | 10 basis points | |
| Forward Income Allocation Fund | 10 basis points | |
| Forward Income & Growth Allocation Fund | 10 basis points |
| * | These amounts are stated on an annual basis. |
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