Exhibit No. EX-99.d.1.ii
Delaware Management Company
0000 Xxxxxx Xxxxxx
Xxxxxxxxxxxx, XX 00000
February 28, 2008
Delaware Pooled Trust
0000 Xxxxxx Xxxxxx
Xxxxxxxxxxxx, XX 00000
Re: Expense Limitations
Ladies and Gentlemen:
By our execution of this letter agreement (the "Agreement"), intending to
be legally bound hereby, Delaware Management Company, a series of Delaware
Management Business Trust (the "Manager"), agrees that in order to improve the
performance of Delaware REIT Fund and Delaware Global Real Estate Securities
Portfolio (together, the "Portfolios"), which are series of Delaware Pooled
Trust, the Manager shall waive all or a portion of its investment advisory fees
and/or reimburse expenses (excluding any 12b-1 plan expenses, taxes, interest,
inverse floater program expenses, brokerage fees, short-sale dividend and
interest expenses, certain insurance costs and non-routine expenses or costs,
including but not limited to, those relating to reorganizations, litigation,
conducting shareholder meetings and liquidations (collectively, "non-routine
expenses")) in an aggregate amount equal to the amount by which the Portfolios'
total operating expenses (excluding any 12b-1 plan expenses, taxes, interest,
brokerage fees, short-sale dividend and interest expenses, certain insurance
costs and non-routine expenses) exceed the percentages set forth below for the
period March 1, 2008 through February 28, 2009. For purposes of this Agreement,
non-routine expenses may also include such additional costs and expenses as may
be agreed upon from time to time by the Portfolios' Board and the Manager.
Inverse floater program expenses include, but are not limited to, interest
expense, remarketing fees, liquidity fees, and trustees' fees from the
Portfolios' participation in inverse floater programs where it has transferred
its own bonds to a trust that issues the inverse floaters.
Fund Expense Cap
REIT Fund 1.48%
Global Real Estate Securities Portfolio 1.06%
The Manager acknowledges that it (1) shall not be entitled to collect on,
or make a claim for, waived fees at any time in the future, and (2) shall not be
entitled to collect on, or make a claim for, reimbursed Portfolio expenses at
any time in the future.
Delaware Management Company, a series of
Delaware Management Business Trust
By: /s/ Xxxxxx X. Xxxxx
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
Date: February 28, 2008
Your signature below acknowledges
acceptance of this Agreement:
Delaware Pooled Trust
By: /s/ Xxxxxxx X. Xxxxx
Name: Xxxxxxx X. Xxxxx
Title: President & Chief Executive Officer
Date: February 28, 2007
