Exhibit 99.B(13)(b)
SCHEDULE A
TO THE EXPENSE LIMITATION AGREEMENT DATED August 1, 2013
BETWEEN
THE VICTORY PORTFOLIOS AND VICTORY CAPITAL MANAGEMENT INC.
OPERATING EXPENSE LIMITS AS OF March 1, 2016
Fund/Class |
| Maximum |
| Date of |
| Effective Date of |
|
Victory Diversified Stock — Class R6 |
| 0.78 | % | 28-Feb-17 |
| 1-Mar-14 |
|
Victory Diversified Stock — Class Y |
| 0.86 | % | 28-Feb-17 |
| 29-Feb-12 |
|
Victory Expedition Emerging Markets Small Cap - Class A |
| 1.80 | % | 31-Mar-17 |
| 1-Apr-14 |
|
Victory Expedition Emerging Markets Small Cap - Class C |
| 2.55 | % | 31-Mar-17 |
| 1-Apr-14 |
|
Victory Expedition Emerging Markets Small Cap - Class I |
| 1.50 | % | 31-Mar-17 |
| 1-Apr-14 |
|
Victory Expedition Emerging Markets Small Cap - Class Y |
| 1.55 | % | 31-Mar-17 |
| 1-Apr-14 |
|
Victory INCORE Fund for Income - Class R6 |
| 0.63 | % | 28-Feb-18 |
| 1-Mar-15 |
|
Victory INCORE Fund for Income - Class Y |
| 0.71 | % | 28-Feb-17 |
| 29-Feb-12 |
|
Victory INCORE Investment Grade Convertible — Class I |
| 1.00 | % | 28-Feb-17 |
| 1-Mar-16 |
|
Victory INCORE Total Return Fund — Class A |
| 0.85 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory INCORE Total Return Fund — Class C |
| 1.60 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory INCORE Total Return Fund — Class R6 |
| 0.58 | % | 31-Oct-18 |
| 1-Mar-15 |
|
Victory INCORE Total Return Fund — Class Y |
| 0.60 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory National Municipal Bond - Class A |
| 0.99 | % | 28-Feb-17 |
| 1-Mar-15 |
|
Victory National Municipal Bond - Class Y |
| 0.72 | % | 28-Feb-17 |
| 29-Feb-12 |
|
Victory NewBridge Global Equity - Class A |
| 1.40 | % | 28-Feb-20 |
| 1-Mar-10 |
|
Victory NewBridge Global Equity - Class C |
| 2.15 | % | 28-Feb-20 |
| 1-Mar-10 |
|
Victory NewBridge Global Equity - Class I |
| 1.15 | % | 28-Feb-20 |
| 1-Mar-10 |
|
Fund/Class |
| Maximum |
| Date of |
| Effective Date of |
|
Victory NewBridge Global Equity - Class R |
| 1.67 | % | 28-Feb-18 |
| 1-Mar-13 |
|
Victory NewBridge Global Equity — Class R6 |
| 1.15 | % | 28-Feb-17 |
| 21-Oct-15 |
|
Victory NewBridge Large Cap Growth — Class C |
| 2.10 | % | 28-Feb-17 |
| 1-Mar-15 |
|
Victory NewBridge Large Cap Growth — Class I |
| 0.95 | % | 28-Feb-17 |
| 1-Mar-15 |
|
Victory NewBridge Large Cap Growth — Class R |
| 1.65 | % | 28-Feb-17 |
| 1-Mar-15 |
|
Victory NewBridge Large Cap Growth - Class Y |
| 1.02 | % | 28-Feb-17 |
| 29-Feb-12 |
|
Victory Select Fund — Class A |
| 1.15 | % | 28-Feb-19 |
| 1-Jan-14 |
|
Victory Select Fund — Class I |
| 0.90 | % | 28-Feb-19 |
| 1-Jan-14 |
|
Victory Special Value — Class C |
| 2.20 | % | 28-Feb-17 |
| 1-Mar-15 |
|
Victory Special Value — Class Y |
| 1.03 | % | 28-Feb-17 |
| 1-Mar-15 |
|
Victory Sycamore Established Value — Class C |
| 1.84 | % | 28-Mar-19 |
| 1-Apr-14 |
|
Victory Sycamore Established Value — Class R6 |
| 0.63 | % | 28-Feb-17 |
| 1-Mar-14 |
|
Victory Sycamore Established Value - Class Y |
| 0.83 | % | 28-Feb-17 |
| 29-Feb-12 |
|
Victory Sycamore Small Company Opportunity — Class R6 |
| 0.98 | % | 28-Feb-17 |
| 21-Oct-15 |
|
Victory Sycamore Small Company Opportunity - Class Y |
| 1.15 | % | 28-Feb-17 |
| 29-Feb-12 |
|
Fund/Class |
| Maximum |
| Date of |
| Effective Date of |
|
Victory Integrity Discovery Equity Fund— Class A |
| 1.83 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Integrity Discovery Equity Fund— Class C |
| 2.58 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Integrity Discovery Equity Fund— Class R |
| 2.08 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Integrity Discovery Equity Fund— Class Y |
| 1.58 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Integrity Mid-Cap Value Fund — Class R6 |
| 1.21 | % | 31-Oct-06 |
| 21-Oct-15 |
|
Victory Integrity Mid-Cap Value Fund— Class A |
| 1.50 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Fund/Class |
| Maximum |
| Date of |
| Effective Date of |
|
Victory Integrity Mid-Cap Value Fund— Class Y |
| 1.25 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Integrity Small/Mid-Cap Value Fund— Class A |
| 1.50 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Integrity Small/Mid-Cap Value Fund— Class R6 |
| 1.21 | % | 31-Oct-18 |
| 1-Mar-15 |
|
Victory Integrity Small/Mid-Cap Value Fund— Class Y |
| 1.25 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Integrity Small-Cap Value Fund— Class A |
| 1.50 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Integrity Small-Cap Value Fund— Class C |
| 2.25 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Integrity Small-Cap Value Fund— Class R |
| 1.75 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Integrity Small-Cap Value Fund— Class R6 |
| 1.07 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Integrity Small-Cap Value Fund— Class Y |
| 1.25 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Munder Index 500 Fund— Class A |
| 0.73 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Munder Index 500 Fund— Class R |
| 1.08 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Munder Index 500 Fund— Class Y |
| 0.58 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Munder Mid-Cap Core Growth Fund— Class A |
| 1.32 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Munder Mid-Cap Core Growth Fund— Class C |
| 2.07 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Munder Mid-Cap Core Growth Fund— Class R |
| 1.57 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Munder Mid-Cap Core Growth Fund— Class R6 |
| 0.89 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Munder Mid-Cap Core Growth Fund— Class Y |
| 1.07 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Munder Multi-Cap Growth Fund— Class A |
| 1.63 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Munder Multi-Cap Growth Fund— Class C |
| 2.38 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Munder Multi-Cap Growth Fund— Class R |
| 1.88 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Munder Multi-Cap Growth Fund— Class Y |
| 1.38 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Fund/Class |
| Maximum |
| Date of |
| Effective Date of |
|
Victory Munder Small Cap Growth — Class A |
| 1.40 | % | 31-Oct-18 |
| 1-May-15 |
|
Victory Munder Small Cap Growth — Class I |
| 1.15 | % | 31-Oct-18 |
| 1-May-15 |
|
Victory Munder Small Cap Growth — Class Y |
| 1.25 | % | 31-Oct-18 |
| 1-May-15 |
|
Victory Trivalent Emerging Markets Small-Cap Fund— Class A |
| 1.73 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Trivalent Emerging Markets Small-Cap Fund— Class Y |
| 1.48 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Trivalent International Fund—Core Equity— Class A |
| 1.47 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Trivalent International Fund—Core Equity— Class C |
| 2.22 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Trivalent International Fund—Core Equity— Class I |
| 0.96 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Trivalent International Fund—Core Equity— Class R6 |
| 0.96 | % | 31-Oct-18 |
| 1-Mar-15 |
|
Victory Trivalent International Fund—Core Equity— Class Y |
| 1.22 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Trivalent International Small-Cap Fund— Class A |
| 1.35 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Trivalent International Small-Cap Fund— Class C |
| 2.10 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Trivalent International Small-Cap Fund— Class I |
| 0.95 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Trivalent International Small-Cap Fund— Class R6 |
| 1.10 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Victory Trivalent International Small-Cap Fund— Class Y |
| 1.10 | % | 31-Oct-16 |
| 1-Nov-14 |
|
Fund/Class |
| Maximum |
| Date of |
| Effective Date of |
|
Victory Floating Rate Fund — Class A |
| 1.00 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory Floating Rate Fund — Class C |
| 1.80 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory Floating Rate Fund — Class R |
| 1.56 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory Floating Rate Fund — Class Y |
| 0.78 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory Global Natural Resources Fund — Class A |
| 1.48 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory Global Natural Resources Fund — Class C |
| 2.28 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Fund/Class |
| Maximum |
| Date of |
| Effective Date of |
|
Victory Global Natural Resources Fund — Class R |
| 1.86 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory Global Natural Resources Fund — Class Y |
| 1.15 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory High Income Municipal Bond Fund — Class A |
| 0.80 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory High Income Municipal Bond Fund — Class C |
| 1.57 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory High Income Municipal Bond Fund — Class Y |
| 0.57 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory High Yield Fund — Class A |
| 1.00 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory High Yield Fund — Class C |
| 1.70 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory High Yield Fund — Class R |
| 1.35 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory High Yield Fund — Class Y |
| 0.76 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory INCORE Investment Quality Bond Fund — Class A |
| 0.90 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory INCORE Investment Quality Bond Fund — Class C |
| 1.77 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory INCORE Investment Quality Bond Fund — Class R |
| 1.30 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory INCORE Investment Quality Bond Fund — Class Y |
| 0.66 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory INCORE Low Duration Bond Fund — Class A |
| 0.85 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory INCORE Low Duration Bond Fund — Class C |
| 1.62 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory INCORE Low Duration Bond Fund — Class R |
| 1.27 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory INCORE Low Duration Bond Fund — Class Y |
| 0.62 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS China Fund — Class A |
| 1.75 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS China Fund — Class C |
| 2.50 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS China Fund — Class R |
| 2.14 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS China Fund — Class Y |
| 1.42 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Emerging Markets Fund — Class A |
| 1.65 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Emerging Markets Fund — Class C |
| 2.45 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Emerging Markets Fund — Class R |
| 1.96 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Emerging Markets Fund — Class Y |
| 1.32 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Emerging Markets Small Cap Fund — Class A |
| 1.75 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Emerging Markets Small Cap Fund — Class C |
| 2.50 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Fund/Class |
| Maximum |
| Date of |
| Effective Date of |
|
Victory RS Emerging Markets Small Cap Fund — Class Y |
| 1.50 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Focused Growth Opportunity Fund — Class A |
| 1.90 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Focused Growth Opportunity Fund — Class C |
| 2.65 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Focused Growth Opportunity Fund — Class Y |
| 1.65 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Focused Opportunity Fund — Class A |
| 1.90 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Focused Opportunity Fund — Class C |
| 2.65 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Focused Opportunity Fund — Class Y |
| 1.65 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Global Fund — Class A |
| 1.40 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Global Fund — Class R |
| 1.81 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Global Fund — Class Y |
| 1.09 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Growth Fund — Class A |
| 1.10 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Growth Fund — Class C |
| 1.93 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Growth Fund — Class R |
| 1.71 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Growth Fund — Class Y |
| 0.83 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS International Fund — Class A |
| 1.40 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS International Fund — Class C |
| 2.15 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS International Fund — Class R |
| 1.80 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS International Fund — Class Y |
| 1.15 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Investors Fund — Class A |
| 1.33 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Investors Fund — Class C |
| 2.07 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Investors Fund — Class R |
| 1.95 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Investors Fund — Class Y |
| 1.05 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Large Cap Alpha Fund — Class A |
| 0.89 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Large Cap Alpha Fund — Class C |
| 1.69 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Large Cap Alpha Fund — Class R |
| 1.26 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Large Cap Alpha Fund — Class Y |
| 0.68 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Mid Cap Growth Fund — Class A |
| 1.20 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Mid Cap Growth Fund — Class C |
| 2.11 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Mid Cap Growth Fund — Class R |
| 1.80 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Mid Cap Growth Fund — Class Y |
| 1.05 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Partners Fund — Class A |
| 1.45 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Partners Fund — Class R |
| 1.81 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Science and Technology Fund — Class A |
| 1.49 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Fund/Class |
| Maximum |
| Date of |
| Effective Date of |
|
Victory RS Science and Technology Fund — Class C |
| 2.28 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Science and Technology Fund — Class R |
| 1.93 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Science and Technology Fund — Class Y |
| 1.24 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Select Growth Fund — Class A |
| 1.40 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Select Growth Fund — Class C |
| 2.18 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Select Growth Fund — Class R |
| 1.91 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Select Growth Fund — Class Y |
| 1.14 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Small Cap Equity Fund — Class A |
| 1.35 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Small Cap Equity Fund — Class C |
| 2.10 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Small Cap Equity Fund — Class R |
| 1.75 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Small Cap Equity Fund — Class Y |
| 1.10 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Small Cap Growth Fund — Class A |
| 1.40 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Small Cap Growth Fund — Class C |
| 2.16 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Small Cap Growth Fund — Class R |
| 1.86 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Small Cap Growth Fund — Class Y |
| 1.13 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Value Fund — Class A |
| 1.30 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Value Fund — Class C |
| 2.07 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory RS Value Fund — Class R |
| 1.69 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory Strategic Income Fund — Class A |
| 0.95 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory Strategic Income Fund — Class C |
| 1.74 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory Strategic Income Fund — Class R |
| 1.34 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory Tax-Exempt Fund — Class A |
| 0.80 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory Tax-Exempt Fund — Class C |
| 1.60 | % | 30-Jun-18 |
| 1-Jul-16 |
|
Victory Tax-Exempt Fund — Class Y |
| 0.69 | % | 30-Jun-18 |
| 1-Jul-16 |
|
+ Anticipated date based on expected date of Reorganization.