Exhibit 99.h.2
EXPENSE LIMITATION AGREEMENT
This EXPENSE LIMITATION AGREEMENT is made as of the 30th day of SEPTEMBER,
2000 by and between BT INVESTMENT FUNDS, a Massachusetts Business trust (the
"Trust"), INTERMEDIATE TAX FREE PORTFOLIO, CAPITAL APPRECIATION PORTFOLIO, and
BT INVESTMENT PORTFOLIOS, each a New York trust (each a "Portfolio Trust"), and
BANKERS TRUST COMPANY, a New York corporation (the "Adviser"), with respect to
the following:
WHEREAS, the Adviser serves as Intermediate Tax Free Portfolio's, Capital
Appreciation Portfolio's, and BT Investment Portfolios' Investment Adviser
pursuant to Investment Advisory Agreements dated June 4, 1999, and the Adviser
serves as the Trust's, Intermediate Tax Free Portfolio's, Capital Appreciation
Portfolio's and BT Investment Portfolios' Administrator pursuant to
Administration and Services Agreements dated October 28, 1992, April 8, 1992,
October 28, 1992, and April 28, 1993, respectively (collectively, the
"Agreements").
NOW, 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. The Adviser agrees to waive its fees and reimburse expenses for the
period from September 30, 2000 to January 31, 2002 to the extent
necessary so that the total annual operating expenses for each of the
Trust's series with fiscal year ends of September 30 (each a "Fund")
do not exceed the percentage of average daily net assets set forth on
Exhibit A.
2. Upon the termination of any of the Agreements, this Agreement shall
automatically terminate.
3. Any question of interpretation of any term or provision of this
Agreement having a counterpart in or otherwise derived from a term or
provision of the Investment Company Act of 1940, as amended (the "1940
Act") shall be resolved by reference to such term or provision of the
1940 Act and to interpretations thereof, if any, by the United States
Courts or in the absence of any controlling decision of any such
court, by rules, regulations or orders of the Securities and Exchange
Commission ("SEC") issued pursuant to said Act. In addition, where the
effect of a requirement of the 1940 Act reflected in any provision of
this Agreement is revised by rule, regulation or order of the SEC,
such provision shall be deemed to incorporate
the effect of such rule, regulation or order. Otherwise the provisions
of this Agreement shall be interpreted in accordance with the laws of
Massachusetts.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to
be executed in duplicate by their respective officers as of the day and year
first above written.
BT INVESTMENT FUNDS
Attest:__________________________ By: __________________________
Name: Xxx X. Xxxxxx Name: Xxxxxx X. Xxxxxx
Title: Secretary
INTERMEDIATE TAX FREE PORTFOLIO
Attest:__________________________ By: __________________________
Name: Xxx X. Xxxxxx Name: Xxxxxx X. Xxxxxx
Title: Secretary
CAPITAL APPRECIATION PORTFOLIO
Attest:__________________________ By: __________________________
Name: Xxx X. Xxxxxx Name: Xxxxxx X. Xxxxxx
Title: Secretary
BT INVESTMENT PORTFOLIOS
Attest:__________________________ By: ___________________________
Name: Xxx X. Xxxxxx Name: Xxxxxx X. Xxxxxx
Title: Secretary
BANKERS TRUST COMPANY
Attest:__________________________ By: ___________________________
Name: Xxx X. Xxxxxx Name: Xxxx Xxxxxxxx
Title:Managing Director
Exhibit A
Total Fund Operating Expenses
Fund (as a percentage of average daily net assets)
---- ---------------------------------------------
Intermediate Tax Free Fund 0.85%
Capital Appreciation Fund 1.25%
Small Cap Fund 1.25%
