MANAGEMENT FEE WAIVER AND EXPENSE LIMITATION AGREEMENT AS OF SEPTEMBER 26, 2011

MANAGEMENT FEE WAIVER AND EXPENSE LIMITATION AGREEMENT

AS OF SEPTEMBER 26, 2011

This Management Fee Waiver and Expense Limitation Agreement (this “Agreement”) is made and entered into this 26^th day of September, 2011 between Lord, Xxxxxx & Co. LLC (“Lord Xxxxxx”) and Lord Xxxxxx Investment Trust (the “Trust”) with respect to the Lord Xxxxxx High Yield Fund (“High Yield Fund”).

In consideration of good and valuable consideration, receipt of which is hereby acknowledged, it is agreed as follows:

1. With respect to the High Yield Fund, Lord Xxxxxx agrees for the time period set forth in paragraph 2 below to waive all or a portion of its management fee and bear directly and/or reimburse the High Yield Fund’s other expenses to the extent necessary so that the total net annual operating expenses for each class, excluding 12b-1 fees, do not exceed an annual rate of 0.78%.

2. This Agreement will be effective from September 26, 2011 through September 25, 2012. This Agreement may be terminated only by the Board of Trustees of the Trust upon written notice to Lord Xxxxxx.

IN WITNESS WHEREOF, Lord Xxxxxx and the Trust have caused this Agreement to be executed by a duly authorized member and officer, respectively, to become effective as of the day and year first above written.

		LORD XXXXXX INVESTMENT TRUST
		By:		/s/ Xxxxxx X. Xxxxxxxx
				Xxxxxx X. Xxxxxxxx
				Vice President and Assistant Secretary
		LORD, XXXXXX & CO. LLC
		By:		/s/ Xxxxxxxx X. Xxxxxx
				Xxxxxxxx X. Xxxxxx
				Member and General Counsel