MANAGEMENT FEE WAIVER AND EXPENSE REIMBURSEMENT AGREEMENT
Exhibit 99.(d)(xxii)
MANAGEMENT FEE WAIVER AND EXPENSE REIMBURSEMENT AGREEMENT
This Management Fee Waiver and Expense Reimbursement Agreement (this “Agreement”) is made and entered into as of this 1st day of April, 2008 between Lord, Xxxxxx & Co. LLC (“Lord Xxxxxx”) and Lord Xxxxxx Investment Trust (“Investment Trust”) with respect to the Lord Xxxxxx Balanced Strategy Fund, Lord Xxxxxx Diversified Income Strategy Fund, Lord Xxxxxx Growth & Income Strategy Fund, and Lord Xxxxxx Diversified Equity Strategy Fund (each a “Fund”).
In consideration of good and valuable consideration, receipt of which is hereby acknowledged, it is agreed as follows:
1. Lord Xxxxxx agrees to waive its management fee payable under the Management Agreement between Lord Xxxxxx and Investment Trust with respect to each Fund for the period set forth in paragraph 5 below.
2. With respect to the Lord Xxxxxx Balanced Strategy Fund, Lord Xxxxxx agrees to bear directly and/or reimburse the Fund for expenses if and to the extent that Total Operating Expenses exceed or would otherwise exceed a particular annual rate of the average daily net assets of the Fund’s Class A, B, C, F, I, P, R2, and R3 shares, as relevant, for the time period set forth in paragraph 5 below. The applicable rates for the Fund are shown below:
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Class A |
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Class B |
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Class C |
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Class F |
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Class I |
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Class P |
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Class R2 |
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Class R3 |
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1.10 |
% |
1.75 |
% |
1.75 |
% |
0.85 |
% |
0.75 |
% |
1.20 |
% |
1.35 |
% |
1.25 |
% |
3. With respect to the Lord Xxxxxx Diversified Income Strategy Fund, Lord Xxxxxx agrees to bear directly and/or reimburse the Fund for expenses if and to the extent that Total Operating Expenses exceed or would otherwise exceed a particular annual rate of the average daily net assets of the Fund’s Class A, B, C, F, I, P, R2, and R3 shares, as relevant, for the time period set forth in paragraph 5 below. The applicable rates for the Fund are shown below:
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Class A |
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Class B |
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Class C |
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Class F |
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Class I |
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Class P |
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Class R2 |
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Class R3 |
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1.20 |
% |
1.85 |
% |
1.85 |
% |
0.95 |
% |
0.85 |
% |
1.30 |
% |
1.45 |
% |
1.35 |
% |
4. With respect to the Lord Xxxxxx Growth & Income Strategy Fund and the Lord Xxxxxx Diversified Equity Strategy Fund, Lord Xxxxxx agrees to bear directly and/or reimburse the Fund for expenses if and to the extent that Total Operating Expenses exceed or would otherwise exceed a particular annual rate of the average daily net assets of each Fund’s Class A, B, C, F, I, P, R2, and R3 shares, as relevant, for the time period set forth in paragraph 5 below. The applicable rates for each Fund are shown below:
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Class A |
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Class B |
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Class C |
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Class F |
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Class I |
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Class P |
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Class R2 |
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Class R3 |
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1.50 |
% |
2.15 |
% |
2.15 |
% |
1.25 |
% |
1.15 |
% |
1.60 |
% |
1.75 |
% |
1.65 |
% |
5. Lord Xxxxxx’x commitment described in paragraphs 1 - 4 will be effective from April 1, 2008 through March 31, 2009.
IN WITNESS WHEREOF, Lord Xxxxxx and Lord Xxxxxx Investment 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.
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LORD XXXXXX INVESTMENT TRUST |
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By: |
/s/ Xxxxxxxx X. Xxxxxxx |
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Xxxxxxxx X. Xxxxxxx |
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Vice President and Assistant Secretary |
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LORD, XXXXXX & CO. LLC |
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By: |
/s/ Xxxxxxxx X. Xxxxxx |
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Xxxxxxxx X. Xxxxxx |
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Member and General Counsel |
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