Exhibit No. EX-99.h.4
Form of Investment Advisory Expense Limitation Letter
Delaware Management Company
0000 Xxxxxx Xxxxxx
Xxxxxxxxxxxx, XX 00000
March 29, 2006
Delaware Group Global & International Funds
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 "Advisor"), agrees that in order to improve the
performance of the Delaware Global Value Fund and the Delaware International
Value Equity Fund (together, the "Funds"), which are series of the Delaware
Group Global & International Funds, the Advisor shall waive all or a portion of
its investment advisory fees and/or reimburse expenses (excluding any Rule 12b-1
plan expenses, taxes, interest, brokerage fees, certain insurance costs and
extraordinary expenses) in an aggregate amount equal to the amount by which each
Fund's total operating expenses (excluding any 12b-1 plan expenses, taxes,
interest, brokerage fees, certain insurance costs and extraordinary expenses)
exceed the following total operating expense ratios (excluding any Rule 12b-1
plan expenses, taxes, interest, brokerage fees, certain insurance costs and
extraordinary expenses) for the periods described below:
------------------------------- --------------------- -------------------------
Fund Expense Cap Effective Dates
------------------------------- --------------------- -------------------------
Delaware Global Value Fund 1.20% 3/30/06-3/31/07
------------------------------- --------------------- -------------------------
Delaware International Value
Equity Fund 1.10% 5/1/06-4/30/07
------------------------------- --------------------- -------------------------
The Advisor 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 Fund expenses at any
time in the future.
Delaware Management Company, a series of
Delaware Management Business Trust
By: _________________________
Name:
Title:
Date:
Your signature below acknowledges
acceptance of this Agreement:
Delaware Group Global & International Funds
By: _________________________
Name:
Title:
Date:
