Fee Cap/Fee Waiver Agreement
FEE CAP/FEE WAIVER AGREEMENT
AMENDED AND RESTATED
This Agreement, dated Oct. 1, 2005, as amended and restated ____________, 2010,
is between each of the investment companies (each a "Registrant"), on behalf of
its underlying series funds, as listed in Schedule A (the term "FUND" is used to
refer to either the Registrant or the series as context requires), and
RiverSource Investments, LLC, in its capacity as investment manager of the
Funds, Ameriprise Financial, Inc, in its capacity as administrator of the Funds,
RiverSource Service Corporation, in its capacity as transfer agent of the Funds,
and RiverSource Fund Distributors, Inc. and RiverSource Distributors, Inc, in
their capacity as principal underwriters and distributors of the Funds
(collectively referred to as the "SERVICE PROVIDERS"). Under this Agreement, the
Service Providers hereby agree to waive all or a portion of the fees they earn
and/or cap or reimburse expenses of each Fund incurred in connection with the
services they provide to the Funds, in an amount equal to the amount by which
the Fund's total operating expense, before giving effect to any applicable
performance incentive adjustment (excluding foreign transaction taxes, income
paid to brokers related to securities lending program, dividend expenses
associated with securities sold short, inverse floater program fees and interest
expenses, transaction or brokerage fees, fees and expenses associated with
investment in other pooled investment vehicles, including exchange traded funds,
other affiliated and unaffiliated mutual funds, and certain other expenses as
may be approved by the Funds' Board of Directors/Trustees) exceed the thresholds
set forth in the attached Schedule B ("FEE CAPS") for any particular Fund, and
the Fund hereby agrees to such Fee Caps.
1. FEE CAPS/FEE WAIVERS. Any allocation of fee waivers and expenses
reimbursements among the Service Providers in order to meet the Fee
Caps will be determined by the Service Providers.
2. TERMINATION. With respect to any Fund, this Agreement will terminate
on the date listed in Schedule B unless modified by written agreement
of the Fund and the Service Providers or terminated earlier at the
sole discretion of the Fund's Board of Directors/Trustees.
The Service Providers acknowledge that they (1) shall not be entitled to collect
on, or make a claim for, waived fees at any time in the future, and (2) shall
not be entitled to collect on, or make a claim for, reimbursed Fund expenses at
any time in the future.
Fee Cap/Fee Waiver Agreement
IN WITNESS WHEREOF, the parties hereto have executed the foregoing Agreement as
of the day and year first above written.
RIVERSOURCE BOND SERIES, INC.
RIVERSOURCE CALIFORNIA TAX-EXEMPT TRUST
RIVERSOURCE DIMENSIONS SERIES, INC.
RIVERSOURCE DIVERSIFIED INCOME SERIES, INC.
RIVERSOURCE EQUITY SERIES, INC.
RIVERSOURCE GLOBAL SERIES, INC.
RIVERSOURCE GOVERNMENT INCOME SERIES, INC.
RIVERSOURCE GOVERNMENT MONEY MARKET FUND, INC.
RIVERSOURCE HIGH YIELD INCOME SERIES, INC.
RIVERSOURCE INCOME SERIES, INC.
RIVERSOURCE INTERNATIONAL MANAGERS SERIES, INC.
RIVERSOURCE INTERNATIONAL SERIES, INC.
RIVERSOURCE INVESTMENT SERIES, INC.
RIVERSOURCE LARGE CAP SERIES, INC.
RIVERSOURCE MANAGERS SERIES, INC.
RIVERSOURCE MARKET ADVANTAGE SERIES, INC.
RIVERSOURCE MONEY MARKET SERIES, INC.
RIVERSOURCE SECTOR SERIES, INC.
RIVERSOURCE SELECTED SERIES, INC.
RIVERSOURCE SERIES TRUST
RIVERSOURCE SPECIAL TAX-EXEMPT SERIES TRUST
RIVERSOURCE STRATEGIC ALLOCATION SERIES, INC.
RIVERSOURCE STRATEGY SERIES, INC.
RIVERSOURCE TAX-EXEMPT INCOME SERIES, INC.
RIVERSOURCE TAX-EXEMPT SERIES, INC.
▇▇▇▇▇▇▇▇ CAPITAL FUND, INC.
▇▇▇▇▇▇▇▇ COMMUNICATIONS AND INFORMATION FUND, INC.
▇▇▇▇▇▇▇▇ FRONTIER FUND, INC.
▇▇▇▇▇▇▇▇ GLOBAL FUND SERIES, INC.
▇▇▇▇▇▇▇▇ GROWTH FUND, INC.
▇▇▇▇▇▇▇▇ LASALLE REAL ESTATE FUND SERIES, INC.
▇▇▇▇▇▇▇▇ MUNICIPAL FUND SERIES, INC.
▇▇▇▇▇▇▇▇ MUNICIPAL SERIES TRUST
▇▇▇▇▇▇▇▇ PORTFOLIOS, INC.
▇▇▇▇▇▇▇▇ TARGETHORIZON ETF PORTFOLIOS, INC.
▇▇▇▇▇▇▇▇ VALUE FUND SERIES, INC.
By:
---------------------------------
▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
President
AMERIPRISE FINANCIAL, INC. RIVERSOURCE INVESTMENTS, LLC.
By: By:
--------------------------------- ------------------------------------
▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
President - U.S. Asset Management President and Chief Investment
and Chief Investment Officer Officer
RIVEROURCE FUND DISTRIBUTORS, INC. RIVEROURCE SERVICE CORPORATION
By: By:
--------------------------------- ------------------------------------
▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇-Strong
Chairman of the Board and Chief President
Executive Officer
Fee Cap/Fee Waiver Agreement
SCHEDULE A - FUNDS
Each Registrant is a Minnesota corporation except RiverSource Government Money
Market Fund, Inc., ▇▇▇▇▇▇▇▇ Capital Fund, Inc., ▇▇▇▇▇▇▇▇ Communications and
Information Fund, Inc., ▇▇▇▇▇▇▇▇ Frontier Fund, Inc., ▇▇▇▇▇▇▇▇ Global Fund
Series, Inc., ▇▇▇▇▇▇▇▇ Growth Fund, Inc., ▇▇▇▇▇▇▇▇ LaSalle Real Estate Fund
Series, Inc., ▇▇▇▇▇▇▇▇ Municipal Fund Series, Inc., ▇▇▇▇▇▇▇▇ Portfolios, Inc.,
▇▇▇▇▇▇▇▇ TargetHorizon ETF Portfolios, Inc., and ▇▇▇▇▇▇▇▇ Value Fund Series,
Inc., which are Maryland corporations, and RiverSource California Tax-Exempt
Trust, RiverSource Special Tax-Exempt Series Trust, RiverSource Series Trust,
and ▇▇▇▇▇▇▇▇ Municipal Series Trust, which are Massachusetts business trusts:
RIVERSOURCE BOND SERIES, INC.
RiverSource Floating Rate Fund
RiverSource Income Opportunities Fund
RiverSource Inflation Protected Securities Fund
RiverSource Limited Duration Bond Fund
RIVERSOURCE CALIFORNIA TAX-EXEMPT TRUST
RiverSource California Tax-Exempt Fund
RIVERSOURCE DIMENSIONS SERIES, INC.
RiverSource Disciplined Small and Mid Cap Equity Fund
RiverSource Disciplined Small Cap Value Fund
RIVERSOURCE DIVERSIFIED INCOME SERIES, INC.
RiverSource Diversified Bond Fund
RIVERSOURCE EQUITY SERIES, INC.
RiverSource Mid Cap Growth Fund
RIVERSOURCE GLOBAL SERIES, INC.
RiverSource Absolute Return Currency and Income Fund
RiverSource Emerging Markets Bond Fund
RiverSource Global Bond Fund
Threadneedle Emerging Markets Fund
Threadneedle Global Equity Fund
Threadneedle Global Equity Income Fund
Threadneedle Global Extended Alpha Fund
RIVERSOURCE GOVERNMENT INCOME SERIES, INC.
RiverSource Short Duration U.S. Government Fund
RiverSource U.S. Government Mortgage Fund
RIVERSOURCE GOVERNMENT MONEY MARKET FUND, INC.
RIVERSOURCE HIGH YIELD INCOME SERIES, INC.
RiverSource High Yield Bond Fund
RIVERSOURCE INCOME SERIES, INC.
RiverSource Income Builder Basic Income Fund
RiverSource Income Builder Enhanced Income Fund
RiverSource Income Builder Moderate Income Fund
RIVERSOURCE INTERNATIONAL MANAGERS SERIES, INC.
RiverSource Partners International Select Growth Fund
RiverSource Partners International Select Value Fund
RiverSource Partners International Small Cap Fund
RIVERSOURCE INTERNATIONAL SERIES, INC.
RiverSource Disciplined International Equity Fund
Threadneedle Asia Pacific Fund
Threadneedle European Equity Fund
Threadneedle International Opportunity Fund
RIVERSOURCE INVESTMENT SERIES, INC.
RiverSource Balanced Fund
RiverSource Disciplined Large Cap Growth Fund
RiverSource Disciplined Large Cap Value Fund
RiverSource Diversified Equity Income Fund
RiverSource Mid Cap Value Fund
Fee Cap/Fee Waiver Agreement
RIVERSOURCE LARGE CAP SERIES, INC.
RiverSource Disciplined Equity Fund
RIVERSOURCE MANAGERS SERIES, INC.
RiverSource Partners Fundamental Value Fund
RiverSource Partners Small Cap Value Fund
RIVERSOURCE MARKET ADVANTAGE SERIES, INC.
RiverSource Portfolio Builder Aggressive Fund
RiverSource Portfolio Builder Conservative Fund
RiverSource Portfolio Builder Moderate Aggressive Fund
RiverSource Portfolio Builder Moderate Conservative Fund
RiverSource Portfolio Builder Moderate Fund
RiverSource Portfolio Builder Total Equity Fund
RiverSource S&P 500 Index Fund
RiverSource Small Company Index Fund
RIVERSOURCE MONEY MARKET SERIES, INC.
RiverSource Cash Management Fund
RIVERSOURCE SECTOR SERIES, INC.
RiverSource Dividend Opportunity Fund
RiverSource Real Estate Fund
RIVERSOURCE SELECTED SERIES, INC.
RiverSource Precious Metals and Mining Fund
RIVERSOURCE SERIES TRUST
RiverSource 120/20 Contrarian Equity Fund
RiverSource Recovery and Infrastructure Fund=
RiverSource Retirement Plus 2010 Fund
RiverSource Retirement Plus 2015 Fund
RiverSource Retirement Plus 2020 Fund
RiverSource Retirement Plus 2025 Fund
RiverSource Retirement Plus 2030 Fund
RiverSource Retirement Plus 2035 Fund
RiverSource Retirement Plus 2040 Fund
RiverSource Retirement Plus 2045 Fund
RIVERSOURCE SPECIAL TAX-EXEMPT SERIES TRUST
RiverSource Minnesota Tax-Exempt Fund
RiverSource New York Tax-Exempt Fund
RIVERSOURCE STRATEGIC ALLOCATION SERIES, INC.
RiverSource Strategic Allocation Fund
RiverSource Strategic Income Allocation Fund
RIVERSOURCE STRATEGY SERIES, INC.
RiverSource Equity Value Fund
RIVERSOURCE TAX-EXEMPT INCOME SERIES, INC.
RiverSource Tax-Exempt High Income Fund
RIVERSOURCE TAX-EXEMPT SERIES, INC.
RiverSource Intermediate Tax-Exempt Fund
RiverSource Tax-Exempt Bond Fund
RIVERSOURCE VARIABLE SERIES TRUST
Discipline Asset Allocation Portfolios - Aggressive
Discipline Asset Allocation Portfolios - Conservative
Discipline Asset Allocation Portfolios - Moderate
Discipline Asset Allocation Portfolios - Moderately Aggressive
Discipline Asset Allocation Portfolios - Moderately Conservative
RiverSource Variable Portfolio - Balanced Fund
RiverSource Variable Portfolio - Cash Management Fund
RiverSource Variable Portfolio - Core Equity Fund
RiverSource Variable Portfolio - Diversified Bond Fund
RiverSource Variable Portfolio - Diversified Equity Income Fund
RiverSource Variable Portfolio - Dynamic Equity Fund
RiverSource Variable Portfolio - Global Bond Fund
RiverSource Variable Portfolio - Global Inflation Protected Securities Fund
RiverSource Variable Portfolio - High Yield Bond Fund
RiverSource Variable Portfolio - Income Opportunities Fund
RiverSource Variable Portfolio - Limited Duration Bond Fund
RiverSource Variable Portfolio - Mid Cap Growth Fund
RiverSource Variable Portfolio - Mid Cap Value Fund
RiverSource Variable Portfolio - S&P 500 Index Fund
RiverSource Variable Portfolio - Short Duration U.S. Government Fund
RiverSource Variable Portfolio - Strategic Income Fund
▇▇▇▇▇▇▇▇ Variable Portfolio - Growth Fund
▇▇▇▇▇▇▇▇ Variable Portfolio - Larger-Cap Value Fund
▇▇▇▇▇▇▇▇ Variable Portfolio - Smaller-Cap Value Fund
Threadneedle Variable Portfolio - Emerging Markets Fund
Threadneedle Variable Portfolio - International Opportunity Fund
Variable Portfolio - Aggressive Portfolio
Variable Portfolio - Conservative Portfolio
Variable Portfolio - Moderate Portfolio
Variable Portfolio - Moderately Aggressive Portfolio
Variable Portfolio - Moderately Conservative Portfolio
Variable Portfolio - AllianceBernstein International Value Fund
Variable Portfolio - American Century Diversified Bond Fund
Variable Portfolio - American Century Growth Fund
Variable Portfolio - ▇▇▇▇▇ New York Venture Fund
Variable Portfolio - ▇▇▇▇▇ ▇▇▇▇▇ Floating-Rate Income Fund
Variable Portfolio - ▇▇▇▇▇▇▇ ▇▇▇▇▇ Mid Cap Value Fund
Variable Portfolio - Invesco International Growth Fund
Variable Portfolio - ▇.▇. ▇▇▇▇▇▇ Core Bond Fund
Variable Portfolio - ▇▇▇▇▇▇▇▇ Mid Cap Growth Fund
Variable Portfolio - MFS Value Fund
Variable Portfolio - ▇▇▇▇▇▇▇ Growth Fund
Variable Portfolio - Mondrian International Small Cap Fund
Variable Portfolio - ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Global Real Estate Fund
Variable Portfolio - NFJ Dividend Value Fund
Variable Portfolio - Partners Small Cap Growth Fund
Variable Portfolio - Partners Small Cap Value Fund
Variable Portfolio - PIMCO Mortgage-Backed Securities Fund
Variable Portfolio - Pyramis International Equity Fund
Variable Portfolio - UBS Large Cap Growth Fund
Variable Portfolio - U.S. Equity Fund
Variable Portfolio - International Fund
Variable Portfolio - ▇▇▇▇▇ Fargo Short Duration Government Fund
▇▇▇▇▇▇▇▇ CAPITAL FUND, INC.
▇▇▇▇▇▇▇▇ COMMUNICATIONS AND INFORMATION FUND, INC.
▇▇▇▇▇▇▇▇ FRONTIER FUND, INC.
▇▇▇▇▇▇▇▇ GLOBAL FUND SERIES, INC.
▇▇▇▇▇▇▇▇ Global Technology Fund
▇▇▇▇▇▇▇▇ GROWTH FUND, INC.
▇▇▇▇▇▇▇▇ LASALLE REAL ESTATE FUND SERIES, INC.
▇▇▇▇▇▇▇▇ LaSalle Global Real Estate Fund
(to be known RiverSource LaSalle Global Real Estate Fund)
▇▇▇▇▇▇▇▇ LaSalle Monthly Dividend Real Estate Fund (to be known RiverSource
LaSalle Monthly Dividend Real Estate Fund)
▇▇▇▇▇▇▇▇ MUNICIPAL FUND SERIES, INC.
▇▇▇▇▇▇▇▇ National Municipal Class
▇▇▇▇▇▇▇▇ Minnesota Municipal Class
▇▇▇▇▇▇▇▇ New York Municipal Class
▇▇▇▇▇▇▇▇ MUNICIPAL SERIES TRUST
▇▇▇▇▇▇▇▇ California Municipal High Yield Series
▇▇▇▇▇▇▇▇ California Municipal Quality Series
▇▇▇▇▇▇▇▇ PORTFOLIOS, INC.
▇▇▇▇▇▇▇▇ Capital Portfolio
▇▇▇▇▇▇▇▇ Common Stock Portfolio
▇▇▇▇▇▇▇▇ Communications and Information Portfolio
▇▇▇▇▇▇▇▇ Global Technology Portfolio
▇▇▇▇▇▇▇▇ International Growth Portfolio
▇▇▇▇▇▇▇▇ Investment Grade Fixed Income Portfolio
▇▇▇▇▇▇▇▇ Large-Cap Value Portfolio
▇▇▇▇▇▇▇▇ Smaller-Cap Value Portfolio
▇▇▇▇▇▇▇▇ TARGETHORIZON ETF PORTFOLIOS, INC.
▇▇▇▇▇▇▇▇ TargETFund 2045
▇▇▇▇▇▇▇▇ TargETFund 2035
▇▇▇▇▇▇▇▇ TargETFund 2025
▇▇▇▇▇▇▇▇ TargETFund 2015
▇▇▇▇▇▇▇▇ TargETFund Core
▇▇▇▇▇▇▇▇ VALUE FUND SERIES, INC.
▇▇▇▇▇▇▇▇ Large-Cap Value Fund
▇▇▇▇▇▇▇▇ Smaller-Cap Value Fund
Fee Cap/Fee Waiver Agreement
SCHEDULE B - FEE CAPS/FEE WAIVERS
Schedule B is separately maintained and updated from time to time to reflect
current fee cap/fee waiver commitments, as they have been approved by the Funds'
Board of Directors/Trustees. Current fee cap/fee waiver commitments are
reflected in Fund registration statements as applicable.