EXHIBIT (h)(6)
AMENDMENT TO EXPENSE CAP AGREEMENT
THIS AMENDMENT TO EXPENSE CAP AGREEMENT ("Amendment"), effective as of July 1,
2002, is entered into between Hotchkis and Wiley Capital Management, LLC, as
investment advisor ("Advisor"), and the Hotchkis and Wiley Funds (individually,
a "Fund" and collectively, the "Funds").
WHEREAS, pursuant to an Expense Cap Agreement dated October 17, 2001
(the "Agreement"), the Advisor has agreed with the Funds to limit the annual
operating expenses of the Funds through June 30, 2002; and
WHEREAS, the Advisor and the Funds desire to extend the period of such
expense limits; and
WHEREAS, shareholders of the Funds benefit from any expense limits
agreed to by the Advisor;
NOW, THEREFORE, in consideration of the premises and the mutual covenants and
agreements in this Amendment, the parties, intending to be legally bound, hereby
agree as follows:
A. EXTENSION OF PERIOD OF EXPENSE CAPS. The Advisor agrees to continue to
limit the annual operating expenses of the Funds as set forth below through
June 30, 2003 and thereafter may change any of them only upon 30 days'
prior notice to the applicable Fund shareholders.
EXPENSE LIMIT
FUND (AS A PERCENTAGE OF
---- AVERAGE NET ASSETS)
-------------------
CLASS I CLASS A CLASS B CLASS C
------- ------- ------- -------
Large Cap Value 1.05% 1.30% 2.05% 2.05%
Mid-Cap Value 1.15% 1.40% 2.15% 2.15%
Small Cap Value 1.25% 1.50% 2.25% 2.25%
B. CONFIRMATION OF AGREEMENT. Except as expressly provided in this Amendment,
the Agreement shall remain in full force and effect and is hereby ratified
and confirmed.
IN WITNESS WHEREOF, the parties have executed this Amendment effective as of the
date first above written.
Hotchkis and Wiley Capital Management, LLC Hotchkis and Wiley Funds
/s/ Xxxxx X. Xxxxxx /s/ Xxxxx X. Xxxxxx
------------------- --------------------
Xxxxx X. Xxxxxx Xxxxx X. Xxxxxx
Chief Operating Officer President