EX99.B(d)(1)(ii)
FEE AND EXPENSE AGREEMENT BETWEEN
XXXXX FARGO FUNDS TRUST AND
XXXXX FARGO BANK, N.A.
THIS AGREEMENT is made as of this 8th day of November, 1999 by and
among Xxxxx Fargo Funds Trust ("Funds Trust") and Xxxxx Fargo Core Trust
(collectively as the "Trusts"), Delaware business trusts, for itself and on
behalf of their series listed on Schedule A and Schedule B respectively,
attached hereto (individually referred to as the "Fund" or collectively referred
to as the "Funds", ), and Xxxxx Fargo Bank, N.A., a banking association
organized under the laws of the United States.
WHEREAS, each Trust is an open-end investment company registered
under the Investment Company Act of 1940;
WHEREAS, Xxxxx Fargo Bank, N.A. (the Advisor") serves as
investment adviser and/or administrator to each of the series of the Trusts
pursuant to an investment advisory agreement (the "Investment Advisory
Agreement") and an Administration Agreement ("Administration Agreement"); and
NOW, THEREFORE, in consideration of the mutual covenants herein
contained and other good and valuable consideration, the receipt whereof is
hereby acknowledged, the parties hereto agree as follows:
1. Limitation of Total Operating Expense Ratios--Investment
Advisory, Administration Fee Ratios and Other Expenses. The parties hereby agree
that the Advisor shall waive any advisory fees payable to it under the
Investment Advisory Agreements, waive any administration fees payable to it
under the Administration Agreements, or reimburse other expenses of the funds to
the extent necessary to not exceed the total operating expense ratios ("Capped
Operating Expense Ratios") for each fund of Funds Trust, as set forth in
Schedule A attached hereto.
2. Duration of the Agreement. The parties agree that Xxxxx Fargo
will maintain the Capped Operating Expense Rations for each Funds Trust Fund
listed in Schedule A, except for the Asset Allocation and Equity Income Funds,
for a period of one year from the closing of the reorganization of the Xxxxx
Fargo and Norwest Advantage Fund families ("Absolute Waiver Period"). For the
Asset Allocation and Equity Income Funds, that the Absolute Waiver Period will
be two years from the closing of the Reorganization. After the Absolute Waiver
Period has ended for each Fund, the parties agree that the Capped Operating
Expense Ratios for each listed Funds Trust Fund may be increased only with the
approval of the Board of Trustees of the Funds Trust.
4. Entire Agreement; Modification; Amendment. This Agreement
constitutes the entire agreement of the parties with respect to its subject
matter. Each provision herein shall be treated as separate and independent from
any other provision or agreement herein and shall be enforceable notwithstanding
the enforceability of any such other provision or agreement. In addition, each
provision herein shall be treated as separate and independent with respect to
each fund of the Trust. No modification or amendment of this Agreement shall be
binding unless in writing and executed by the Adviser and the appropriate
Trust(s).
IN WITNESS WHEREOF, the parties have duly executed this Agreement as of
the date above first written.
XXXXX FARGO FUNDS TRUST, for itself and on behalf of its XXXXX FARGO BANK, N.A.
series listed on Schedule A attached hereto
By /s/ Xxxxxxx X. Xxxxx, Xx.
Xxxxxxx X. Xxxxx, Xx. By /s/ Xxxxxxx X. Xxxxx
Assistant Secretary Xxxxxxx X. Xxxxx
Executive Vice President
XXXXX FARGO CORE TRUST, for itself and on behalf of the
its series listed on Schedule B attached hereto
By /s/ Xxxxxxxxx X. Xxxxxxxxx
--------------------------
Xxxxxxxxx X. Xxxxxxxxx
By /s/ Xxxxxxx X. Xxxxx, Xx. Vice President
Xxxxxxx X. Xxxxx, Xx.
Assistant Secretary
A-6
SCHEDULE A
XXXXX FARGO FUNDS TRUST
CAPPED OPERATING EXPENSE RATIOS FOR
AN ABSOLUTE WAIVER PERIOD OF ONE YEAR
FROM CLOSING OF THE REORGANIZATION
--------------------------------------------------------------------- ----------------------------------
NAME OF FUND CAPPED OPERATING
EXPENSE RATIO
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Aggressive Balanced-Equity
Class I 1.00%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Arizona Tax-Free
Class A 0.77%
Class B 1.52%
Class I 0.60%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Asset Allocation
Class A 0.99%
Class B 1.74%
Class C 1.74%
Class I 1.00%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
California Tax-Free
Class A 0.77%
Class B 1.52%
Class C 1.52%
Class I 0.60%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
California Tax-Free Income
Class A 0.75%
Class I 0.60%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
California Tax-Free Money Market
Class A 0.65%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
California Tax-Free Money Market Trust 0.20%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Cash Investment Money Market Fund
Class Service/Admin. 0.48%
Class I 0.25%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Colorado Tax-Free
Class A 0.60%
Class B 1.35%
Class I 0.60%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Corporate Bond Fund
Class A 1.00%
Class B 1.75%
Class C 1.75%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Disciplined Growth 1.00%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Diversified Bond
Class I 0.70%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Diversified Equity Fund
Class A 1.00%
Class B 1.75%
Class C 1.75%
Class I 1.00%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Diversified Small Cap
Class A 1.40%
Class B 2.15%
Class I 1.20%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Equity Income
Class A 1.10%
Class B 1.85%
Class C 1.85%
Class I 0.85%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Equity Index
Class A 0.71%
Class B 1.46%
Class O 0.50%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Equity Value
Class A 1.18%
Class B 1.93%
Class C 1.93%
Class I 1.00%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Government Money Market
Class A 0.75%
Class Service 0.50%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Growth
Class A 1.12%
Class B 1.87%
Class I 0.75%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Growth Balanced
Class A 1.15%
Class B 1.90%
Class C 1.90%
Class I 0.93%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Growth Equity
Class A 1.50%
Class B 2.25%
Class C 2.25%
Class I 1.25%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Income
Class A 1.00%
Class B 1.75%
Class I 0.75%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Income Plus
Class A 1.10%
Class B 1.85%
Class C 1.85%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Index
Class I 0.25%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Index Allocation
Class A 1.30%
Class B 2.05%
Class C 2.05%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Intermediate Government Income
Class A 0.96%
Class B 1.71%
Class C 1.71%
Class I 0.68%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
International
Class A 1.75%
Class B 2.50%
Class I 1.50%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
International Equity
Class A 1.75%
Class B 2.50%
Class C 2.50%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Large Company Growth
Class A 1.20%
Class B 1.75%
Class I 1.00%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Lifepath Opportunity
Class A 1.30%
Class B 1.80%
Class C 1.80%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Lifepath 2010
Class A 1.30%
Class B 1.80%
Class C 1.80%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Lifepath 2020
Class A 1.30%
Class B 1.80%
Class C 1.80%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Lifepath 2030
Class A 1.30%
Class B 1.80%
Class C 1.80%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Lifepath 2040
Class A 1.30%
Class B 1.80%
Class C 1.80%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Limited Term Government Income
Class A 0.96%
Class B 1.71%
Class I 0.68%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Minnesota Intermediate Tax-Free
Class I 0.60%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Minnesota Tax-Free
Class A 0.60%
Class B 1.35%
Class I 0.60%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Moderate Balanced
Class I 0.88%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Money Market Fund
Class A 0.76%
Class S/B 1.51%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Money Market Trust 0.20%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
National Tax-Free
Class A 0.80%
Class B 1.55%
Class C 1.55%
Class I 0.60%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
National Limited Term Tax-Free
Class I 0.60%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
National Tax-Free Money Market
Class A 0.65%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
National Tax-Free Institutional Money Market
Class Service 0.45%
Class I 0.30%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
National Tax-Free Money Market Trust 0.20%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Oregon Tax-Free
Class A 0.77%
Class B 1.52%
Class I 0.60%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Overland Express Sweep Fund 1.25%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Prime Investment Money Market
Class Service 0.55%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Small Cap Opportunities
Class A 1.40%
Class B 2.15%
Class I 1.25%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Small Cap Growth
Class A 1.29%
Class B 2.04%
Class C 2.04%
Class I 1.20%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Small Cap Value
Class I 1.25%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Small Company Growth
Class I 1.25%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Stable Income
Class A 0.90%
Class B 1.65%
Class I 0.65%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Strategic Income
Class I 0.80%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Treasury Plus Money Market
Class A 0.65%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Treasury Plus Institutional Money Market
Class Service 0.46%
Class I 0.25%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Variable Rate Government
Class A 0.78%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Wealthbuilder Growth 1.25%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Wealthbuilder Growth & Income 1.25%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
Wealthbuilder Growth Balanced 1.25%
--------------------------------------------------------------------- ----------------------------------
--------------------------------------------------------------------- ----------------------------------
100% Treasury Money Market
Service Class 0.46%
--------------------------------------------------------------------- ----------------------------------
