EX-99.H5 3 ex-h5.txt EXHIBIT (h)(5) CONTRACTUAL FEE/EXPENSE WAIVER AGREEMENT ---------------------------------------- Agreement effective as of the 31st day of January 2006 by and between the Turner Funds, a Massachusetts business trust (the "Trust"), and Turner Investment Partners, Inc., a Pennsylvania corporation. Turner hereby agrees to limit the operating expenses at the levels indicated through January 31, 2007 for the following Fund: FUND: NET TOTAL OPERATING EXPENSES: ----- ----------------------------- Turner Large Cap Value Fund 0.59% This Agreement shall be renewable at the end of each one year term for an additional one year term upon the written agreement of the parties hereto. This Agreement supersedes any prior contractual waiver agreement(s) between the parties. IN WITNESS WHEREOF, intending to be legally bound hereby, the parties hereto have caused this Agreement to be executed by their officers designated below effective as of the day and year first above written. TURNER FUNDS TURNER INVESTMENT PARTNERS, INC. By: /s/ THOMAS R. TRALA By: /s/ BRIAN F. MCNALLY --------------------------------- ----------------------------- Signature Signature Name: THOMAS R. TRALA Name: BRIAN F. MCNALLY -------------------------------- -------------------------- Printed Printed Title: PRESIDENT AND CHIEF EXECUTIVE Title: GENERAL COUNSEL AND CHIEF ------------------------------- -------------------------- OFFICER COMPLIANCE OFFICER ------------------------------- --------------------------