Delaware Distributors, L.P. 2005 Market Street Philadelphia, PA 19103
Delaware Distributors, L.P.
0000 Xxxxxx Xxxxxx
Xxxxxxxxxxxx, XX 00000
0000 Xxxxxx Xxxxxx
Xxxxxxxxxxxx, XX 00000
April 15, 2011
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Re: |
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Expense Limitations |
Ladies and Gentlemen:
By our execution of this letter agreement (the “Agreement”), intending to be legally bound hereby, Delaware Distributors, L.P. (the “Distributor”) agrees that in order to improve the performance of the series of Delaware VIP Trust set forth below (each a “Series”), the Distributor shall waive a portion of the Rule 12b-1 (distribution) fees applicable to the specified Series class, so that such Series’ Rule 12b-1 (distribution) fees with respect to such class will not exceed the percentages set forth below for the period April 29, 2011 through April 30, 2012.
| Fund | Class | 12b-1 Cap | ||
| Delaware VIP Cash Reserve Series* | Service | 0.25% | ||
| Delaware VIP Diversified Income Series | Service | 0.25% | ||
| Delaware VIP Emerging Markets Series | Service | 0.25% | ||
| Delaware VIP High-Yield Series | Service | 0.25% | ||
| Delaware VIP International Value Equity Series | Service | 0.25% | ||
| Delaware VIP Limited-Term Diversified Income Series | Service | 0.25% | ||
| Delaware VIP REIT Series | Service | 0.25% | ||
| Delaware VIP Small Cap Value Series | Service | 0.25% | ||
| Delaware VIP Xxxx Cap Growth Series | Service | 0.25% | ||
| Delaware VIP U.S. Growth Series | Service | 0.25% | ||
| Delaware VIP Value Series | Service | 0.25% |
The Distributor acknowledges that it shall not be entitled to collect on, or make a claim for, waived fees at any time in the future.
| Delaware Distributors, L.P. | |||
| By: | /s/ X. Xxxxx Xxxxxxx | ||
| Name: X. Xxxxx Xxxxxxx | |||
| Title: President | |||
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* Please note: Delaware VIP Cash Reserve Series has a voluntary 12b-1 limitation on the service class of 0.00%. This voluntary limitation will continue to be in effect indefinitely until otherwise noted.
* Please note: Delaware VIP Cash Reserve Series has a voluntary 12b-1 limitation on the service class of 0.00%. This voluntary limitation will continue to be in effect indefinitely until otherwise noted.
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Your signature below acknowledges acceptance of this Agreement:
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| Delaware VIP Trust | |||
| By: | /s/ Xxxxxxx X. Xxxxx | ||
| Name: Xxxxxxx X. Xxxxx | |||
| Title: President | |||
| Date: April 15, 2011 | |||
