EXPENSE LIMITATION/REIMBURSEMENT AGREEMENT
Exhibit 28(h)(xvi)
EXPENSE LIMITATION/REIMBURSEMENT AGREEMENT
THIS AGREEMENT is entered into as of the 20th day of June 2010, between XXXXX
CAPITAL MANAGEMENT, LLC (the “Adviser”) and FUNDVANTAGE TRUST (the “Trust”), on behalf of the Xxxxx
Growth Fund (the “Fund”).
WHEREAS, the Adviser desires to contractually agree to reduce its advisory fee and/or
reimburse certain of the Fund’s operating expenses to ensure that the Fund’s total operating
expenses, excluding taxes, interest, extraordinary items, brokerage commissions, “class-specific
fees and expenses” (defined below) and “Acquired Fund Fees and Expenses” (as defined in Form N-1A),
do not exceed the levels described below. Class-specific fees and expenses are distribution
expenses, transfer agency expenses, expenses of preparation, printing and mailing, prospectuses,
statements of additional information, proxy statements and reports to shareholders, and
organizational expenses and registration fees, identified as belonging to a particular class of the
Trust.
NOW, THEREFORE, the parties agree as follows:
Fee Reduction/Reimbursement. The Adviser agrees that from the commencement of the operations
of the Fund through August 31, 2011, it will reduce its compensation and/or reimburse certain
expenses for the Fund, to the extent necessary to ensure that the Fund’s total operating expenses,
excluding taxes, interest, , extraordinary items, brokerage commissions, any class-specific fees
and expenses and Acquired Fund Fees and Expenses do not exceed 1.00% (on an annual basis) of the
Fund’s average daily net assets.
Term. This Agreement shall terminate on August 31, 2011, or at an earlier date upon the
discretion of the Board of Trustees of the Trust, unless extended, terminated, modified or revised
by the mutual agreement of the parties, as provided for in writing.
Executed as of the date first set forth above.
XXXXX CAPITAL MANAGEMENT, LLC | ||||||
By: | /s/ Xxxxx Xxxxx
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Name: | Xxxxx Xxxxx | |||||
Title: | CEO | |||||
FUNDVANTAGE TRUST, on behalf of the Fund | ||||||
By: | /s/ Xxxx Xxxxx
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Name: | Xxxx Xxxxx | |||||
Title: | President |