EX-99.(H)(VI) 8 fundvantage_ex99h6.htm EXHIBIT (H)(VI)

 

Exhibit (h)(vi)

 

AMENDED AND RESTATED

 

EXPENSE Limitation/reimbursement AGREEMENT

 

This Agreement is entered into as of December 28, 2018, as amended and restated August 31, 2020 and August 31, 2021, by and between Polen Capital Management, LLC (the “Adviser”) and FundVantage Trust (the “Trust”), on behalf the Polen International Small Company Growth 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, fees and expenses attributable to a distribution or service plan adopted by the Trust, interest, extraordinary items, “Acquired Fund Fees and Expenses” (as defined in Form N-1A), and brokerage commissions, do not exceed the levels described below (the “Expense Limitation”); and,

 

WHEREAS, effective September 1, 2020, the Adviser wishes to amend and restate the Agreement dated December 28, 2018 to extend the term to August 31, 2021; and

 

WHEREAS, effective September 1, 2021, the Adviser wishes to amend and restate the Agreement dated December 28, 2018 to extend the term to August 31, 2022.

 

NOW, THEREFORE, the parties agree as follows:

 

Fee Reduction. The Adviser agrees that from the commencement of operations of the Fund through August 31, 2022, it will reduce its compensation and/or reimburse certain expenses for the Fund, to the extent necessary to ensure that the Fund’s total operating expenses, (excluding taxes, fees and expenses attributable to a distribution or service plan adopted by the Trust, interest, extraordinary items, “Acquired Fund Fees and Expenses,” and brokerage commissions) do not exceed (on an annual basis) 1.25%, as a percentage of the Fund’s average daily net assets.

 

Fee Recovery. The Adviser is entitled to recover, subject to approval by the Board of Trustees, such amounts reduced or reimbursed for a period of up to three (3) years from the date on which the Adviser reduced its compensation and/or assumed expenses for the Fund. The Adviser is permitted to seek reimbursement from the Fund, for fees it waived and Fund expenses it paid to the extent the total annual fund expenses do not exceed the limits described above or any lesser limits in effect at the time of the reimbursement. No reimbursement will occur unless the Fund's expenses are below the Expense Limitation.

 

Term. This Agreement shall terminate on August 31, 2022, 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.

 

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Effective as of the date first set forth above.

 

  Polen Capital Management, LLC
     
  By: /s/ Brian Goldberg
  Name: Brian Goldberg
  Title: General Counsel & CCO
     
  FundVantage Trust, on behalf of the Fund
     
  By: /s/ Joel Weiss
  Name: Joel L. Weiss
  Title: President