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EXHIBIT 99.(H)(9)
AMENDMENT TO EXPENSE CAP AGREEMENT
THIS AMENDMENT TO EXPENSE CAP AGREEMENT ("Amendment"), effective as of
January 1, 2001, is entered into between Fund Asset Management, L.P., as
investment adviser (the "Adviser"), and the Mercury HW Funds (individually, a
"Fund" and collectively, the "Funds").
WHEREAS, pursuant to an Amended and Restated Expense Cap Agreement dated
October 6, 2000 (the "Agreement") the Adviser agreed to limit expenses of
certain of the Funds through June 30, 2001; and
WHEREAS, the Adviser and the Funds desire to revise the Agreement to
accommodate the conversion of the Mercury HW Mid-Cap Value Fund to the Mercury
multi-class load structure; and
WHEREAS, shareholders of the Funds benefit from any expense limits agreed
to by the Adviser.
NOW, THEREFORE, the Funds and the Adviser hereby agree to expense limits
on the annual operating expenses of the Mercury HW Mid-Cap Value Fund as
follows:
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Expense Limit Expense Limit
Effective October 6, 2000 Effective January 1, 2001
Through December 31, 2000 Through June 30, 2001
(as a percentage of average net assets) (as a percentage of average net assets)
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Class I Class A Class B Class C Class I Class A Class B Class C
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1.15% N/A N/A N/A 1.15% 1.40% 2.15% 2.15%
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The Adviser agrees to continue the foregoing expense limits through June 30,
2001 and thereafter may change any of them only upon 30 days' prior notice to
the Mercury HW Mid-Cap Value Fund shareholders.
IN WITNESS WHEREOF, the parties have executed this Amendment effective as
of the date first above written.
FUND ASSET MANAGEMENT, L.P.
By
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Xxxxx X. Xxxxxx, First Vice President
MERCURY HW FUNDS
By
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Xxxxx X. Xxxxxx, President
