Exhibit (d.6)
EXPENSE CAP/REIMBURSEMENT AGREEMENT
This Agreement is entered into as of the 29th day
of December, 2000, between Target Holdings Corporation
d/b/a/ Target Investors, Inc. (the "Adviser") and Grand
Prix Funds, Inc. (the "Company") on behalf of the Super
Core Fund (the "Fund").
WHEREAS, the Adviser desires to contractually
agree to waive a portion of its advisory fee or
reimburse certain of the Fund's operating expenses to
ensure that the Fund's total operating expenses,
excluding taxes, interest and brokerage commissions, do
not exceed the levels described below.
NOW THEREFORE, the parties agree as follows:
The Adviser agrees that until February 28, 2002,
it will reduce its compensation as provided for in the
Investment Advisory Agreement between the Fund and the
Adviser dated December 29, 2000, and/or assume certain
expenses for the Fund to the extent necessary to ensure
that (i) the Fund's Class A shares total operating
expenses, excluding taxes, interest and brokerage
commissions, do not exceed 1.50%, on an annual basis of
the Fund's Class A average daily net assets; and (ii)
the Fund's Class C shares total operating expenses,
excluding taxes, interest and brokerage commissions, do
not exceed 2.15%, on an annual basis of the Fund's
Class C average daily net assets.
The Adviser shall be entitled to recoup such
amounts for a period of up to three (3) years from the
year in which the Adviser reduced its compensation
and/or assumed expenses for the Fund.
This Agreement shall terminate on February 28,
2002 unless extended by the mutual agreement of the
parties, as provided for in writing.
TARGET HOLDINGS CORPORATION d/b/a
TARGET INVESTORS, INC.
By: /s/ Xxxxxx Xxxxxxx
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Xxxxxx Xxxxxxx, President
GRAND PRIX FUNDS, INC.
on behalf of the Super Core Fund
By: /s/ Xxxxxx Xxxxxxx
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Xxxxxx Xxxxxxx, President
