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EXHIBIT 99. (H)(6)
AMENDED AND RESTATED
EXPENSE CAP AGREEMENT
Agreement made this 26th day of January, 1999, as amended as of March 1,
2000 and amended and restated as of October 6, 2000, between Fund Asset
Management L.P., as investment adviser or administrator, as appropriate (the
"Adviser"), and the Mercury HW Funds (individually, a "Fund" and collectively,
the "Funds").
WHEREAS, Xxxxxxx Xxxxx Investment Managers, L.P., an affiliate of the
Adviser, has been reimbursing some of the Funds for expenses that exceed certain
voluntary expense limits, and
WHEREAS, the Adviser wishes to change the voluntary agreement to limit
expenses of some of the Funds and commit to those limits for a period of time,
and
WHEREAS, shareholders of the Funds benefit from any expense limits agreed
to by the Adviser.
NOW, THEREFORE, the Funds and the Adviser agree to expense limits on the
annual operating expenses of the Funds, as follows:
Expense Limit
Effective March 1, 2000 Expense Limit
Through October 5, 2000 Effective October 6, 2000
(as a percentage of (as a percentage of
Fund average net assets) average net assets)
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Investor Distributor
Class Class Class I Class A Class B Class C
-------- ----------- ------- ------- ------- -------
Equity Income 0.95% X/X 0.00% X/X X/X X/X
Mid-Cap 1.15% N/A 1.15% N/A N/A N/A
Small Cap 1.25% 1.50% 1.25% 1.50% N/A N/A
Global Equity 1.25% N/A 1.25% N/A N/A N/A
Balanced 0.95% 1.20% 0.95% 1.20% N/A N/A
Total Return Bond 0.65% 0.90% 0.65% 0.90% 1.65% 1.65%
Low Duration 0.58% 0.83% 0.58% 0.83% 1.48% 1.48%
Short-Term Investment 0.48% N/A 0.48% N/A N/A N/A
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 applicable Fund shareholders.
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IN WITNESS WHEREOF, the parties have signed this amended and restated
agreement effective as of the day and year first above written.
FUND ASSET MANAGEMENT L.P.
/s/ Xxxxx X. Xxxxxx
By_____________________________________
MERCURY HW FUNDS
/s/ Xxxxx X. Xxxxxx
By_____________________________________
Xxxxx X. Xxxxxx
President
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