EX-99.H5 2 ex-h5.txt CONTRACTUAL FEE/EXPENSE WAIVER AGREEMENT Agreement effective as of the 31st day of January 2007 by and between the Turner Funds, a Massachusetts business trust (the "Trust"), Turner Investment Partners, Inc., a Pennsylvania corporation ("TIP"), and Turner Investment Management LLC, a Maryland limited liability company. 1. TIP hereby agrees to limit the net total operating expenses at the levels indicated through January 31, 2008 for each of the following Funds: Fund: Net Total Operating Expenses ---- ---------------------------- Turner Core Growth Fund Institutional Class 0.69% Investor Class 0.94% Turner Emerging Growth Fund Investor Class 1.40% Turner Large Cap Growth Fund Institutional Class 0.69% Investor Class 0.94% Turner Midcap Growth Fund Investor Class 1.18% Retirement Class 1.43% Turner Small Cap Growth Fund Investor Class 1.25% Turner Large Cap Value Fund Institutional Class 0.69% International Core Growth Fund Institutional Class 1.10% 2. TIP hereby agrees to limit the net total other expenses at the levels indicated through January 31, 2008 for each of the following Funds: Fund: Net Total Other Expenses ---- ------------------------ Turner Concentrated Growth Fund Investor Class 0.25% Turner New Enterprise Fund Investor Class 0.25% 3. TIM hereby agrees to limit the net total operating expenses at the levels indicated through January 31, 2008 for each of the following Funds: Turner Small Cap Equity Fund Investor Class 1.45% Turner Midcap EquityFund Institutional Class 0.90% Investor Class 1.15% This Agreement shall be renewable at the end of each one year term for an additional one year term upon the written agreement of the parties hereto. This Agreement supersedes any prior contractual waiver agreement(s) between the parties. IN WITNESS WHEREOF, intending to be legally bound hereby, the parties hereto have caused this Agreement to be executed by their officers designated below effective as of the day and year first above written. TURNER FUNDS TURNER INVESTMENT PARTNERS, INC. By:/s/ Thomas R. Trala By:/s/ Brian F. McNally ----------------------------------------- --------------------------------- Signature Signature Name: Thomas R. Trala Name: Brian F. McNally --------------------------------------- --------------------------------- Printed Printed Title: President and Chief Executive Officer Title: General Counsel and Chief Compliance Officer - Principal -------------------------------------------- -------------------------------- TURNER INVESTMENT MANAGEMENT LLC By:/s/ Brian F. McNally ----------------------------------------- Signature Name: Brian F. McNally --------------------------------------- Printed Title: General Counsel and Chief Compliance Officer ---------------------------------------------