Exhibit No. EX-99.h.3
FORM OF
Delaware Management Company
0000 Xxxxxx Xxxxxx
Xxxxxxxxxxxx, XX 00000
______________, 2006
Delaware Group Foundation 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 certain portfolios in Delaware Group Foundation Funds, which is
comprised of the Delaware Aggressive Allocation Portfolio, Delaware Moderate
Allocation Portfolio and Delaware Conservative Allocation Portfolio (each a
"Portfolio"), the Advisor shall, from February 1, 2006 through January 31, 2007,
waive all or a portion of its investment advisory fees and/or reimburse expenses
(excluding any 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) exceeds the following total operating expense ratios
(excluding any 12b-1 plan expenses, taxes, interest, brokerage fees, certain
insurance costs and extraordinary expenses):
Delaware Aggressive Allocation Portfolio 0.55%
Delaware Moderate Allocation Portfolio 0.55%
Delaware Conservative Allocation Portfolio 0.55%
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 FOUNDATION FUNDS
By: _________________________
Name:
Title:
Date:
