EX-99.(D)(IX) 3 f97000exv99wxdyxixy.txt EXHIBIT (D)(IX) EXHIBIT (d)(ix) April 16, 2004 Randall W. Merk, President and Chief Executive Officer, Schwab Capital Trust and Schwab Investments 101 Montgomery Street San Francisco, CA 94104 Re: Charles Schwab Family of Funds Dear Mr. Merk: This letter will confirm our agreement to limit net operating expenses of the following funds, as noted in the table below and described in the funds' registration statements filed with the Securities and Exchange Commission.
FUND NET OPERATING GUARANTEED EXPENSE LIMIT THROUGH SCHWAB MONEY MARKET FUND 75 bps 4/30/05 SCHWAB GOVERNMENT MONEY FUND 75 bps 4/30/05 SCHWAB U.S. TREASURY MONEY FUND 65 bps 4/30/05 SCHWAB MUNICIPAL MONEY FUND- SWEEP SHARES 66 bps 4/30/05 SCHWAB CALIFORNIA MUNICIPAL MONEY FUND- SWEEP SHARES 65 bps 4/30/05 SCHWAB NEW YORK MUNICIPAL MONEY FUND- SWEEP SHARES 69 bps 4/30/05 SCHWAB NEW JERSEY MUNICIPAL MONEY FUND 65 bps 4/30/05
FUND NET OPERATING GUARANTEED EXPENSE LIMIT THROUGH SCHWAB PENNSYLVANIA MUNICIPAL MONEY FUNDS 65 bps 4/30/05 SCHWAB FLORIDA MUNICIPAL MONEY FUND 66 bps 4/30/05 SCHWAB MASSACHUSETTS MUNICIPAL MONEY FUND 60 bps 4/30/05 SCHWAB VALUE ADVANTAGE MONEY FUND - INVESTOR SHARES 45 bps 4/30/05 SCHWAB MUNICIPAL MONEY FUND - VALUE ADVANTAGE SHARES 45 bps 4/30/05 SCHWAB CALIFORNIA MUNICIPAL MONEY FUND - VALUE ADVANTAGE SHARES 45 bps 4/30/05 SCHWAB NEW YORK MUNICIPAL MONEY FUND - VALUE ADVANTAGE SHARES 45 bps 4/30/05 SCHWAB VALUE ADVANTAGE MONEY FUND - INSTITUTIONAL SHARES 24 bps 4/30/05 SCHWAB VALUE ADVANTAGE MONEY FUND - SELECT SHARES 35 bps 4/30/05
FUND NET OPERATING GUARANTEED EXPENSE LIMIT THROUGH SCHWAB RETIREMENT ADVANTAGE MONEY FUND 50 bps 4/30/05 SCHWAB GOVERNMENT CASH RESERVES FUND 125 bps 4/30/05 SCHWAB MUNICIPAL MONEY FUND - INSTITUTIONAL SHARES 24 bps 4/30/05 SCHWAB MUNICIPAL MONEY FUND - SELECT SHARES 35 bps 4/30/05
Sincerely, /s/ Stephen B. Ward /s/ Evelyn Dilsaver ------------------- ------------------- Stephen B. Ward, Evelyn Dilsaver, Senior Vice President and Chief Senior Vice President, AMPS Development Investment Officer, Charles Schwab and Distribution Charles Schwab & Co., Inc. Investment Management, Inc. cc: Felton, Koji Hand, Greg Jande, Mini Loudermilk, Michael Norman, Jen Stewart, Carolyn Stuart, Jody Taylor, Shelly Tung, Tai-Chin