FIRST AMENDMENT TO THE EXPENSE LIMITATION AGREEMENT
THIS FIRST AMENDMENT to the Expense Limitation Agreement ("Agreement") is made
this 1st day of January, 2004 by and between ICON Funds (the "Trust"), a
Massachusetts business trust and Meridian Investment Management Corporation (the
"Adviser"), a Colorado corporation.
WHEREAS, the Trust entered into an Agreement on December 1, 2003, agreeing to
pay expenses related to the ICON Short-Term Fixed Income Fund (the "Fund") to
the extend that Total Fund Operating Expenses of the Fund exceeded the limits
set forth in Schedule A to the Agreement. The Trust and the Adviser hereby amend
the Agreement as follows:
Effective January 1, 2004, the name Meridian Investment Management Corporation
has been changed to ICON Advisers, Inc. All references to Meridian Investment
Management Corporation in this Agreement shall be replaced with ICON Advisers,
Inc.
All other terms of the Agreement shall remain in full force and effect.
This Amendment has been executed as of the date set forth above by a duly
authorized officer of each party.
ICON FUNDS ICON ADVISERS, INC.
By: /s/▇▇▇▇ ▇. ▇▇▇▇▇▇ By: /s/▇▇▇▇▇ ▇. ▇▇▇▇▇
Name: ▇▇▇▇ ▇. ▇▇▇▇▇▇ Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Vice President & CFO Title: Vice President & CFO