EX-99.B(H)(VI) 15 a15-15712_1ex99dbhvi.htm EX-99.B(H)(VI)

Exhibit 28(h)(vi)

 

AMENDED AND RESTATED

 

EXPENSE LIMITATION/REIMBURSEMENT AGREEMENT

 

This Agreement is entered into as of the 22nd day of July, 2010, as amended and restated August 31, 2015, by and between Estabrook Capital Management LLC (the “Adviser”) and FundVantage Trust (the “Trust”), on behalf of the Estabrook Investment Grade Fixed Income Fund (the “Fund”).

 

WHEREAS, the Adviser desires to contractually agree to reduce its advisory fee and/or reimburse certain of the Fund’s operating expenses to ensure that the Fund’s total operating expenses, excluding taxes, any class-specific expenses (such as Rule 12b-1 distribution fees, shareholder service fees, or transfer agency fees), “Acquired Fund” fees and expenses (as defined in Form N-1A), interest, extraordinary items, and brokerage commissions (“Net Expenses”), do not exceed the levels described below; and

 

WHEREAS, the Adviser wishes to extend the term of the expense limitation/reimbursement agreement dated July 22, 2010 at the 0.70% expense cap to August 31, 2016;

 

NOW, THEREFORE, the parties agree as follows:

 

Fee Reduction.  The Adviser agrees that during the period beginning on the date of commencement of operations of the Fund and ending August 31, 2016, it will reduce its compensation and/or reimburse certain expenses for the Fund, to the extent necessary to ensure that the Fund’s Net Expenses do not exceed 0.70% (on an annual basis) of the Fund’s average daily net assets.

 

Fee Recovery.  The Adviser shall be entitled to recover, subject to approval by the Board of Trustees of the Trust, 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.

 

Term.  This Agreement shall terminate on August 31, 2016, or at an earlier date upon the discretion of the Board of Trustees of the Trust, unless extended, terminated, modified or revised by the mutual agreement of the parties, as provided for in writing.

 

Effective as of the date first set forth above.

 

 

Estabrook Capital Management LLC

 

 

 

 

By:

/s/ David Foley

 

Name:

David Foley

 

Title:

COO

 

 

 

 

FundVantage Trust, on behalf of the Fund

 

 

 

 

By:

/s/ Joel Weiss

 

Name:

Joel Weiss

 

Title:

President