Exhibit 23(h)(4)
CENTURY CAPITAL MANAGEMENT, LLC
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January 29, 2004
Board of Trustees
Century Capital Management Trust
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Re: Fee Waiver and Expense Reimbursement Agreement
Dear Gentlemen:
Century Capital Management, LLC hereby confirms our agreement with you as
follows:
1) Pursuant to an Investment Advisory and Management Services
Agreement dated as of January 29, 2004 (the "Advisory Agreement"),
you have employed us to manage the investment and reinvestment of
the assets of Century Small Cap Select Fund (the "Fund"), an
authorized series of Century Capital Management Trust.
2) We hereby agree that, notwithstanding any provision to the contrary
contained in the Advisory Agreement, we shall limit, by waiver of
the fees payable to us pursuant to the Advisory Agreement or by
reimbursement, the aggregate expenses of every character incurred
by you, excluding brokerage commissions, taxes, interest and
litigation, indemnification and other extraordinary expenses (the
"Limitation"). Under the Limitation, we agree that, through
February 28, 2005, such expenses shall not exceed a percentage of
your average daily net assets equal to, on an annualized basis,
1.80% in the case of the Investor Shares of the Fund and 1.45% in
the case of the Institutional Shares of the Fund.
Very truly yours,
CENTURY CAPITAL MANAGEMENT, LLC
By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
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Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
Title: Managing Director