Exhibit (d)(xx)
▇▇▇▇▇▇▇ ▇▇▇▇▇▇ INVESTMENT MANAGEMENT, INC.
June 20, 2003
▇▇▇▇▇▇▇ ▇. ▇▇▇▇,
President and Chief Executive Officer - Schwab Capital Trust
▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Re: Schwab Focus Funds
Dear ▇▇. ▇▇▇▇:
This letter will confirm our agreement to limit total fund operating expenses to
110 basis points for each of the Schwab Focus Funds through February 28, 2005,
as described in the registration statement of the funds filed with the
Securities and Exchange Commission.
Sincerely,
/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇ /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
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▇▇▇▇▇▇▇ ▇. ▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
Senior Vice President Vice President,
and Chief Investment ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ & Co., Inc.
▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Investment Management, Inc.