Delaware Management Company 2005 Market Street Philadelphia, PA 19103
EX-99.d.1.ii
Delaware Management
Company
0000 Xxxxxx Xxxxxx
Xxxxxxxxxxxx, XX 00000
January 4, 2016
Delaware Group Cash Reserve
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 the Delaware Investments Ultrashort Fund (the “Fund”), a series of Delaware Group Cash Reserve, the Manager shall waive all or a portion of its investment advisory fees and/or pay/reimburse expenses (excluding any 12b-1 fees, acquired fund fees and expenses, taxes, interest, inverse floater program expenses, short sale and dividend interest expenses, brokerage fees, certain insurance costs, and nonroutine expenses or costs, including, but not limited to, those relating to reorganizations, litigation, conducting shareholder meetings, and liquidations (collectively, “Excluded Expenses”)) in an aggregate amount equal to the amount by which the Fund’s total operating expenses (excluding any Excluded Expenses) exceeds 0.40% of the Fund’s average daily net assets for the period from January 4, 2016 through January 31, 2017. For purposes of this Agreement, nonroutine expenses may also include such additional costs and expenses as may be agreed upon from time to time by the Fund’s Board of Trustees and the Manager.
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 Fund expenses at any time in the future.
Delaware Management
Company, a series of
Delaware Management Business Trust
| By: | /s/ Xxxxxxx Xxxxx |
| Name: Xxxxxxx Xxxxx | |
| Title: Senior Vice President |
Your signature below
acknowledges
acceptance of this Agreement:
| By: | /s/ Xxxxx X. Xxxxx |
| Name: Xxxxx X. Xxxxx | |
| Title: President & Chief Executive Officer | |
| Date: January 4, 2016 |
