SEC Info - Clough Funds Trust, et al. - ‘N-1A/A’ on 9/23/15

Clough Funds Trust, et al. – ‘N-1A/A’ on 9/23/15 – ‘EX-99.28.H.4’

On: Wednesday, 9/23/15, at 5:08pm ET · Private-to-Public: Document/Exhibit ¶ – Release Delayed · Accession #: 1398344-15-6418 · File #s: 811-23059, 333-204408

As Of Filer Filing For·On·As Docs:Size Issuer Agent 9/23/15 Clough Funds Trust N-1A/A¶ 23:4.2M FilePoint/FA → Clough Global Long/Short Fund ⇒ Class C (CLOCX) — Class I (CLOIX) — Investor Class (CLOAX)

Document/Exhibit Description Pages Size 1: N-1A/A Pre-Effective Amendment to Registration Statement HTML 1.06M by an Open-End Management Investment Company 23: COVER ¶ Comment-Response or Cover Letter to the SEC HTML 7K 2: EX-99.28.D.1 Miscellaneous Exhibit HTML 34K 3: EX-99.28.E.1 Miscellaneous Exhibit HTML 79K 4: EX-99.28.E.2 Miscellaneous Exhibit HTML 81K 5: EX-99.28.E.3 Miscellaneous Exhibit HTML 80K 6: EX-99.28.E.4 Miscellaneous Exhibit HTML 63K 7: EX-99.28.E.5 Miscellaneous Exhibit HTML 58K 8: EX-99.28.G.1 Miscellaneous Exhibit HTML 142K 9: EX-99.28.H.1 Miscellaneous Exhibit HTML 143K 10: EX-99.28.H.2 Miscellaneous Exhibit HTML 98K 11: EX-99.28.H.3 Miscellaneous Exhibit HTML 69K 12: EX-99.28.H.4 Miscellaneous Exhibit HTML 14K 13: EX-99.28.H.5 Miscellaneous Exhibit HTML 15K 14: EX-99.28.I.1 Miscellaneous Exhibit HTML 14K 15: EX-99.28.J Miscellaneous Exhibit HTML 11K 16: EX-99.28.L Miscellaneous Exhibit HTML 15K 17: EX-99.28.M.1 Miscellaneous Exhibit HTML 17K 18: EX-99.28.M.2 Miscellaneous Exhibit HTML 23K 19: EX-99.28.N.1 Miscellaneous Exhibit HTML 29K 20: EX-99.28.P.1 Miscellaneous Exhibit HTML 62K 21: EX-99.28.P.2 Miscellaneous Exhibit HTML 149K 22: EX-99.28.P.3 Miscellaneous Exhibit HTML 118K

CLOUGH CAPITAL PARTNERS L.P.

One Post Office Square

40^th Floor

Boston, Massachusetts 02109

September __, 2015

Mr. Edmund J. Burke, President

Clough Funds Trust

1290 Broadway, Suite 1100

Denver, CO 80203

Re:	Clough Funds Trust (the “Trust”) – Clough Global Long/Short Fund (the “Fund”)

Dear Mr. Burke:

This letter confirms the agreement by Clough Capital Partners L.P. (the “Adviser”) with the Trust to contractually limit the total expenses of the Fund as set forth herein. To the extent the Total Annual Fund Operating Expenses (as defined in Item 3 to Form N-1A), after such expense reimbursement and/or fee waiver (excluding Rule 12b-1 Distribution and Service Fees, Shareholder Services Fees, acquired fund fees and expenses, interest, taxes, brokerage costs and commissions, dividend and interest expense on short sales, litigation, indemnification and extraordinary expenses as determined under generally accepted accounting principles), exceed 1.60% for each of the Class A, Class C and Class I shares of the Fund, the Adviser will waive a portion of its advisory fees to the extent of such excess and/or shall reimburse and/or cause a third-party to reimburse the Fund (or class as applicable) by the amount of such excess. The waiver or reimbursement shall be allocated to each class of the Fund in the same manner as the underlying expenses or fees were allocated.

The Adviser agrees that the above fee waivers and reimbursements for the Fund are effective through [October 1], 2016, unless modified or terminated prior to that date by agreement of the Adviser and the Board of Trustees of the Trust. The Adviser is entitled to recover, on a class-by-class basis, any fees waived and/or expenses reimbursed under this letter agreement if such recovery does not cause the Total Annual Fund Operating Expenses to exceed the expense limitations in effect (i) at the time the expenses to be recovered were waived and/or reimbursed or (ii) at the time of such recovery. Notwithstanding the foregoing, the Fund will not pay any such waived or reimbursed fees and expenses more than thirty-six months after the end of the fiscal year in which the fee was waived or expense reimbursed.

Notwithstanding the foregoing, this letter shall terminate immediately, and the Adviser shall have no further obligations hereunder, in the event that the Adviser ceases to serve as the investment adviser with respect to the Fund.

[signature page follows]

CLOUGH CAPITAL PARTNERS L.P.

By:
Name:	James E. Canty
Title:	President

Your signature below acknowledges acceptance of this letter agreement:

CLOUGH FUNDS TRUST

By:
Name:	Edmund J. Burke
Title:	President

As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 2/28/23 Clough Funds Trust 485BPOS 2/28/23 17:3.8M FilePoint/FA 2/28/22 Clough Funds Trust 485BPOS 2/28/22 15:3.4M FilePoint/FA 2/26/21 Clough Funds Trust 485BPOS 2/28/21 18:4.2M FilePoint/FA 12/29/15 Clough Funds Trust NSAR-B 10/31/15 5:26K Clough Global Equity Fd

Clough Funds Trust, et al. – ‘N-1A/A’ on 9/23/15 – ‘EX-99.28.H.4’

On: Wednesday, 9/23/15, at 5:08pm ET · Private-to-Public: Document/Exhibit `¶` – Release Delayed · Accession #: 1398344-15-6418 · File #s: 811-23059, 333-204408

Previous ‘N-1A’: ‘N-1A/A’ on 8/10/15 · Latest ‘N-1A’: This Filing · 4 References:

Pre-Effective Amendment to Registration Statement by an Open-End Management Investment Company — Form N-1A
Filing Table of Contents

‘EX-99.28.H.4’ — Miscellaneous Exhibit

This Exhibit is an HTML Document rendered as filed. [ Alternative Formats ]

4 Subsequent Filings that Reference this Filing

Clough Funds Trust, et al. – ‘N-1A/A’ on 9/23/15 – ‘EX-99.28.H.4’

On: Wednesday, 9/23/15, at 5:08pm ET · Private-to-Public: Document/Exhibit ¶ – Release Delayed · Accession #: 1398344-15-6418 · File #s: 811-23059, 333-204408

Pre-Effective Amendment to Registration Statement by an Open-End Management Investment Company — Form N-1AFiling Table of Contents

‘EX-99.28.H.4’ — Miscellaneous Exhibit

This Exhibit is an HTML Document rendered as filed. [ Alternative Formats ]

4 Subsequent Filings that Reference this Filing

On: Wednesday, 9/23/15, at 5:08pm ET · Private-to-Public: Document/Exhibit `¶` – Release Delayed · Accession #: 1398344-15-6418 · File #s: 811-23059, 333-204408

Pre-Effective Amendment to Registration Statement by an Open-End Management Investment Company — Form N-1A
Filing Table of Contents