ADDENDUM TO EXPENSE LIMITATION AGREEMENT
EXHIBIT
13(b)
ADDENDUM
TO EXPENSE LIMITATION AGREEMENT
Addendum
dated January 12, 2007 to the Expense Limitation Agreement (the “Agreement”)
between ▇▇▇▇▇▇▇▇ Investment Trust (the “Trust”), on behalf of the Ave ▇▇▇▇▇
Rising Dividend Fund (the “Fund”), and ▇▇▇▇▇▇▇▇ Investment Counsel, Inc. (the
“Adviser”).
RECITAL
The
Agreement requires the Adviser to limit the aggregate ordinary operating
expenses of the Fund to an annual rate of 1.25% of the Fund’s average daily net
assets for a three year period ending May 1, 2008.
Now
Therefore,
it is
agreed that:
Effective
January 12, 2007, the term of the Agreement is extended through May 1, 2010.
The
Agreement is unchanged in all other respects.
In
Witness Whereof,
the
parties have caused this Addendum to be signed by their officers designated
below, all as of the date first written above.
| ▇▇▇▇▇▇▇▇ INVESTMENT COUNSEL, INC | ||
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| By: | /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ | |
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Title: President |
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| Accepted by: | ||
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▇▇▇▇▇▇▇▇ INVESTMENT TRUST |
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| By: | /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ | |
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Title: President |
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