Amended and Restated EXPENSE Limitation/reimbursement AGREEMENT

 

Exhibit 99.(h)(xxx)

 

Amended and Restated

 

EXPENSE Limitation/reimbursement AGREEMENT

 

This Agreement is entered into as of the 30th day of December, 2016, amended and restated as of January 28, 2019, by and between Gotham Asset Management, LLC (the “Adviser”) and FundVantage Trust (the “Trust”), on behalf the Gotham Enhanced S&P 500 Index 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, “Acquired Fund” fees and expenses (as defined in Form N-1A), dividend and interest expense on securities sold short, interest, extraordinary items, and brokerage commissions, do not exceed the levels described below; and

 

WHEREAS, effective January 28, 2019, the Adviser desires to extend the term of this Agreement for an additional one year period ended January 31, 2021.

 

NOW, THEREFORE, the parties agree as follows:

 

Fee Reduction. The Adviser agrees that from the commencement of operations of the Fund through January 31, 2021, 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, “Acquired Fund” fees and expenses, dividend and interest expense on securities sold short, interest, extraordinary items, and brokerage commissions, do not exceed (on an annual basis) 0.50%, as a percentage of the Fund’s average daily net assets.

 

Fee Recovery. The Adviser shall be entitled to recover from the Fund, subject to approval by the Board of Trustees of the Trust, amounts waived or reimbursed by the Adviser with respect to the Fund pursuant to this Agreement for a three (3) year period following the date of such fee waiver and/or expense reimbursement. 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 operating expenses do not exceed the limits described above or any lesser limits in effect at the time of reimbursement.

 

Term. This Agreement shall terminate on January 31, 2021, 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.

 

[Signature Page Follows]

 

  

IN WITNESS WHEREOF, each of the parties hereto has caused this Amended and Restated Expense Limitation/Reimbursement Agreement to be executed in its name and on its behalf by its duly authorized representative as of January 28, 2019.

 

		Gotham Asset Management, LLC
	By:	/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇
	Name:	▇▇▇▇▇ ▇▇▇▇▇▇▇
	Title:	General Counsel & CCO
		FundVantage Trust, on behalf of
		Gotham Enhanced S&P 500 Index Fund
	By:	/s/ ▇▇▇▇ ▇▇▇▇▇
	Name:	▇▇▇▇ ▇. ▇▇▇▇▇
	Title:	President and Chief Executive Officer

 

[Signature Page to Amended and Restated Expense Limitation/Reimbursement Agreement]