Expense Limitation Agreement
Exhibit 99.(d)(xxvii)
This Expense Limitation Agreement (the “Agreement”) is made and entered into this 25th day of January, 2023 between Lord, Xxxxxx & Co. LLC (“Lord Xxxxxx”) and Xxxx Xxxxxx Investment Trust (the “Trust”) with respect to Lord Xxxxxx Core Fixed Income Fund (“Core Fixed Income Fund”), Lord Xxxxxx Core Plus Bond Fund (“Core Plus Bond Fund”), Xxxx Xxxxxx Corporate Bond Fund (“Corporate Bond Fund”), Xxxx Xxxxxx Short Duration Core Bond Fund (“Short Duration Core Bond Fund”), and Xxxx Xxxxxx Total Return Fund (“Total Return Fund”) (each, a “Fund”).
In consideration of good and valuable consideration, receipt of which is hereby acknowledged, it is agreed as follows:
| 1. | With respect to Core Fixed Income Fund, Xxxx Xxxxxx agrees for the time period set forth in paragraph 7 below to waive the Fund’s Class I shareholder servicing expenses at the annual rate of 0.04% of the Fund’s average daily net assets. |
| 2. | With respect to Core Plus Bond Fund, Xxxx Xxxxxx agrees for the time period set forth in paragraph 7 below to waive all or a portion of its management and administrative services fees and reimburse the Fund’s other expenses to the extent necessary to limit total net annual operating expenses, excluding 12b-1 fees, acquired fund fees and expenses, interest-related expenses, taxes, expenses related to litigation and potential litigation, and extraordinary expenses, to an annual rate of 0.48% for each class other than Class F3 and R6. For the same period, Xxxx Xxxxxx agrees to waive all or a portion of its management and administrative services fees and reimburse the Fund’s other expenses to the extent necessary to limit total net annual operating expenses, excluding acquired fund fees and expenses, interest-related expenses, taxes, expenses related to litigation and potential litigation, and extraordinary expenses, to an annual rate of 0.40% for Class F3 and R6. |
| 3. | With respect to Corporate Bond Fund, Xxxx Xxxxxx agrees for the time period set forth in paragraph 7 below to waive all or a portion of its management and administrative services fees and reimburse the Fund’s other expenses to the extent necessary to limit total net annual operating expenses, excluding 12b-1 fees, acquired fund fees and expenses, interest-related expenses, taxes, expenses related to litigation and potential litigation, and extraordinary expenses, to an annual rate of 0.48% for each class other than Class F3 and R6. For the same period, Xxxx Xxxxxx agrees to waive all or a portion of its management and administrative services fees and reimburse the Fund’s other expenses to the extent necessary to limit total net annual operating expenses, excluding acquired fund fees and expenses, interest-related expenses, taxes, |
| expenses related to litigation and potential litigation, and extraordinary expenses, to an annual rate of 0.38% for Class F3 and R6. |
| 4. | With respect to Short Duration Core Bond Fund, Xxxx Xxxxxx agrees for the time period set forth in paragraph 7 below to waive all or a portion of its management and administrative services fees and reimburse the Fund’s other expenses to the extent necessary to limit total net annual operating expenses, excluding 12b-1 fees, acquired fund fees and expenses, interest-related expenses, taxes, expenses related to litigation and potential litigation, and extraordinary expenses, to an annual rate of 0.40% for each class other than Class F3 and R6. For the same period, Xxxx Xxxxxx agrees to waive all or a portion of its management and administrative services fees and reimburse the Fund’s other expenses to the extent necessary to limit total net annual operating expenses, excluding acquired fund fees and expenses, interest-related expenses, taxes, expenses related to litigation and potential litigation, and extraordinary expenses, to an annual rate of 0.30% for Class F3 and R6. |
| 5. | With respect to Total Return Fund, Xxxx Xxxxxx agrees for the time period set forth in paragraph 7 below to waive the Fund’s Class I shareholder servicing expenses at the annual rate of 0.04% of the Fund’s average daily net assets. |
| 6. | To limit each Fund’s total net annual operating expenses as specified above, Xxxx Xxxxxx will waive the same amount of management and administrative services fees for each share class, but may reimburse different amounts of shareholder servicing expenses for each share class in its sole discretion. |
| 7. | This Agreement will be effective from April 1, 2023 through March 31, 2024. This Agreement may be terminated only by the Board of Trustees of the Trust upon written notice to Xxxx Xxxxxx. |
[Signatures follow on next page]
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IN WITNESS WHEREOF, Xxxx 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.
| XXXX, XXXXXX & CO. LLC | |||
| By: | /s/ Xxxxxxxx X. Xxxxxxx | ||
| Xxxxxxxx X. Xxxxxxx | |||
| Member and General Counsel | |||
| LORD XXXXXX INVESTMENT TRUST | |||
| By: | /s/ Xxxxxxxx X. Xxxxxxx | ||
| Xxxxxxxx X. Xxxxxxx | |||
| Vice President and Secretary | |||
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