Exhibit (h)(15)
NEUBERGER BERMAN EQUITY FUNDS
Neuberger Berman Equity Income Fund
Neuberger Berman Genesis Fund
Neuberger Berman International Equity Fund
Neuberger Berman Large Cap Value Fund
Neuberger Berman Multi-Cap Opportunities Fund
Neuberger Berman Real Estate Fund
1290 Avenue of the Americas
New York, New York 10104
December 7, 2022
Neuberger Berman Investment Advisers LLC (“NBIA”)
1290 Avenue of the Americas
New York, New York 10104
Dear Ladies and Gentlemen:
Neuberger Berman Equity Income Fund, Neuberger Berman Genesis Fund, Neuberger Berman International Equity Fund, Neuberger Berman Large Cap Value Fund, Neuberger Berman Multi-Cap Opportunities Fund, and Neuberger Berman Real Estate Fund (each a “Fund”) are series of Neuberger Berman Equity Funds, a Delaware statutory trust (“Trust”).
You hereby agree, from December 19, 2022 until each date noted on Schedule A (each a “Limitation Period”), to waive the investment advisory fee charged pursuant to the Management Agreement between the Trust and NBIA (“Advisory Fee”) of each Fund’s Classes noted on Schedule A (each a “Class”), so that the Advisory Fee of each Fund’s respective Classes are limited to the respective rate per annum, as noted on Schedule A, of that Class’s average daily net assets (each an “Advisory Fee After Waiver”).
You understand that you shall look only to the assets attributable to the applicable Class in the performance of this Agreement, and neither any other series of the Trust or Class, nor any of the Trust’s trustees, officers, employees, agents, or shareholders, whether past, present or future, shall be personally liable therefor.
This Agreement is made and to be performed principally in the State of New York, and except insofar as the Investment Company Act of 1940, as amended, or other federal laws and regulations may be controlling, this Agreement shall be governed by, and construed and enforced in accordance with, the internal laws of the State of New York. Any amendment to this Agreement shall be in writing signed by the parties hereto, and requires approval of the Board of Trustees of the Trust, including a majority of the Trustees who are not “interested persons” of the Trust as that term is defined in the Investment Company Act of 1940. This Agreement supersedes any prior agreement with respect to the subject matter hereof as of December 19, 2022.
If you are in agreement with the foregoing, please sign the form of acceptance on the enclosed counterpart hereof and return the same to us.
Very truly yours, | ||
NEUBERGER BERMAN EQUITY FUNDS, | ||
on behalf of | ||
Neuberger Berman Equity Income Fund | ||
Neuberger Berman Genesis Fund | ||
Neuberger Berman International Equity Fund | ||
NEUBERGER BERMAN LARGE CAP VALUE FUND | ||
Neuberger Berman Multi-Cap Opportunities Fund | ||
Neuberger Berman Real Estate Fund | ||
By: | /s/ Brian Kerrane | |
Title: | Chief Operating Officer |
The foregoing Agreement is hereby accepted as of December 7, 2022.
NEUBERGER BERMAN INVESTMENT ADVISERS LLC
By: | /s/ Brian Kerrane | |
Title: | Chief Operating Officer |
2
SCHEDULE A
Fund | Class | Limitation Period | Advisory Fee After Waiver | |||
Neuberger Berman Equity Income Fund | E | August 31, 2024 | 0.00% | |||
Neuberger Berman Genesis Fund | E | August 31, 2024 | 0.00% | |||
Neuberger Berman International Equity Fund | E | August 31, 2024 | 0.00% | |||
Neuberger Berman Large Cap Value Fund | E | August 31, 2024 | 0.00% | |||
Neuberger Berman Multi-Cap Opportunities Fund | E | August 31, 2024 | 0.00% | |||
Neuberger Berman Real Estate Fund | E | August 31, 2024 | 0.00% |
Sch. A-1