Exhibit 99(h)(6)
EXPENSE LIMITATION AGREEMENT
ALLIANCEBERNSTEIN L.P.
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May 7, 2014
AllianceBernstein Bond Fund, Inc.
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Dear Sirs:
AllianceBernstein L.P. herewith confirms our agreement with you as
follows:
1. You are an open-end, diversified management investment company
registered under the Investment Company Act of 1940, as amended (the "Act"). You
propose to engage in the business of investing and reinvesting your assets in
accordance with applicable limitations. Pursuant to an Advisory Agreement dated
as of May 7, 2014 (the "Advisory Agreement"), you have employed us to manage the
investment and reinvestment of such assets with respect to the AllianceBernstein
Credit Long/Short Portfolio (the "Portfolio").
2. We hereby agree that, notwithstanding any provision to the
contrary contained in the Advisory Agreement, we shall limit as provided herein
the aggregate expenses incurred by the Portfolio, including but not limited to
the fees payable to us pursuant to the Advisory Agreement ("Advisory Fees"), but
not including (i) extraordinary expenses, (ii) interest expense, (iii) the fees
and expenses of registered investment companies or series thereof in which the
Portfolio invests ("Acquired Funds") other than investment advisory fees of
Acquired Funds for which we serve as investment adviser (the "Limitation").
Under the Limitation, we agree that, until one year after the date that shares
of the Portfolio are first offered to the public (the "Limitation Expiration
Date"), such expenses shall not exceed a percentage (the "Percentage Expense
Limitation") of the Portfolio's average daily net assets equal to, on an
annualized basis, 1.35% in the case of the Class A shares, 2.10% in the case of
the Class B shares, 2.10% in the case of the Class C shares, 1.10% in the case
of the Advisor Class shares, 1.60% in the case of the Class R shares, 1.35% in
the case of the Class K shares, 1.10% in the case of the Class I shares, 1.10%
in the case of the Class Z shares, 1.20% in the case of the Class 1 shares and
1.10% in the case of the Class 2 shares.
To determine our liability for expenses in excess of the Percentage
Expense Limitation, the amount of allowable fiscal-year-to-date expenses shall
be computed daily by prorating the Percentage Expense Limitation based on the
number of days elapsed within the fiscal year, or limitation period, if shorter
(the "Prorated Limitation"). The Prorated Limitation shall be compared to the
Portfolio's expenses recorded through the current day in order to produce the
allowable expenses to be recorded for the current day (the "Allowable
Expenses"). If Advisory Fees and the Portfolio's other expenses for the current
day exceed the Allowable Expenses, Advisory Fees for the current day shall be
reduced by such excess ("Unaccrued Fees"). In the event such excess exceeds the
amount due as Advisory Fees, we shall be responsible for the additional excess
("Other Expenses Exceeding Limit"). Cumulative Unaccrued Fees or cumulative
Other Expenses Exceeding Limit shall be paid to us in the future, provided that
(1) no such payment shall be made to us after the end of the third fiscal year
after the fiscal period in which the Unaccrued Fees or Other Expenses Exceeding
Limit were recorded, and (2) such payment shall be made only to the extent that
it does not cause your aggregate expenses, on an annualized basis, to exceed the
Percentage Expense Limitation.
3. Nothing in this Agreement shall be construed as preventing us
from voluntarily limiting, waiving or reimbursing your expenses outside the
contours of this Agreement during any time period before or after the Limitation
Expiration Date; nor shall anything herein be construed as requiring that we
limit, waive or reimburse any of your expenses incurred after the Limitation
Expiration Date or, except as expressly set forth herein, prior to the
Limitation Expiration Date.
4. This Agreement shall become effective on the date hereof and
remain in effect until the end of the third fiscal year after the last fiscal
period in which Unaccrued Fees or Other Expenses Exceeding Limit hereunder were
recorded. Upon the termination or expiration hereof, we shall have no claim
against you for any amounts not reimbursed to us pursuant to the provisions of
paragraph 2.
5. This Agreement shall be construed in accordance with the laws of
the State of New York, provided, however, that nothing herein shall be construed
as being inconsistent with the Act.
If the foregoing is in accordance with your understanding, will you
kindly so indicate by signing and returning to us the enclosed copy hereof.
Very truly yours,
ALLIANCEBERNSTEIN L.P.
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
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Assistant Secretary
Agreed to and accepted
as of the date first set forth above.
ALLIANCEBERNSTEIN BOND FUND, INC.
By: /s/ ▇▇▇▇ ▇. ▇▇▇▇▇
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Assistant Secretary