EXHIBIT (h)(8)
ADDENDUM TO EXPENSE CAP AGREEMENT
THIS ADDENDUM TO EXPENSE CAP AGREEMENT ("Addendum"), effective as of December
31, 2002, is entered into between Hotchkis and Wiley Capital Management, LLC, as
investment advisor ("Advisor"), and the Hotchkis and Wiley Funds (the "Funds")
on behalf of the Hotchkis and Wiley All Cap Value Fund (the "All Cap Value
Fund").
WHEREAS, pursuant to an Expense Cap Agreement dated October 17, 2001 and
amended on July 1, 2002 (the "Agreement"), the Advisor has agreed with the Funds
to limit the annual operating expenses of the Hotchkis and Wiley Large Cap
Value, Hotchkis and Wiley Mid-Cap Value and Hotchkis and Wiley Small Cap Value
Funds through June 30, 2003; and
WHEREAS, the Advisor and the Funds desire to add the All Cap Value Fund to
the Agreement; and
WHEREAS, shareholders of the All Cap Value Fund will 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 Addendum, the parties, intending to be legally bound, hereby
agree as follows:
A. ADDITION OF THE ALL CAP VALUE FUND. The Advisor agrees to limit the annual
operating expenses of the All Cap Value Fund as set forth below through
December 31, 2003 and thereafter may change any of them only upon 30 days'
prior notice to the Fund's shareholders.
Expense Limit
(as a percentage of
average net assets)
-------------------
CLASS I CLASS A CLASS B CLASS C
------- ------- ------- -------
1.25% 1.50% 2.25% 2.25%
B. CONFIRMATION OF AGREEMENT. Except as expressly provided in this Addendum,
the Agreement shall remain in full force and effect and is hereby ratified
and confirmed.
IN WITNESS WHEREOF, the parties have executed this Addendum effective as of the
date first above written.
Hotchkis and Wiley Capital Management, LLC Hotchkis and Wiley Funds
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Xxxxx X. Xxxxxx Xxxxx X. Xxxxxx
Chief Operating Officer President
