EXPENSE REIMBURSEMENT AGREEMENT
EXHIBIT 99.(d)(xv)
EXPENSE REIMBURSEMENT AGREEMENT
This Expense Reimbursement Agreement (this “Agreement”) is made and entered into this 1st day of December 2006 between Lord, Xxxxxx & Co. LLC (“Lord Xxxxxx”) and Lord Xxxxxx Investment Trust (the “Investment Trust”) with respect to the Lord Xxxxxx Core Fixed Income Fund, Lord Xxxxxx Limited Duration U.S. Government & Government Sponsored Enterprises Fund, Lord Xxxxxx Total Return Fund, and Lord Xxxxxx U.S. Government & Government Sponsored Enterprises 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 each of the Lord Xxxxxx Limited Duration U.S. Government & Government Sponsored Enterprises Fund, Lord Xxxxxx Core Fixed Income Fund, and Lord Xxxxxx Total Return Fund, Lord Xxxxxx agrees to bear directly and/or reimburse the Funds for expenses if and to the extent that Total Operating Expenses exceed or would otherwise exceed an annual rate of (a) ninety basis points (0.90%) for Class A shares of the Funds, (b) one hundred and fifty-five basis points (1.55%) for Class B shares of the Funds, (c) one hundred and fifty-five basis points (1.55%) for Class C shares of the Funds, (d) one hundred basis points (1.00%) for Class P shares of the Funds, and (e) fifty-five basis points (0.55%) for Class Y shares of the Funds of the average daily net assets in the Funds for the time period set forth in paragraph 3 below.
2. With respect to the Lord Xxxxxx U.S. Government & Government Sponsored Enterprises 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 an annual rate of (a) one hundred basis points (1.00%) for Class A shares of the Fund, (b) one hundred and sixty-five basis points (1.65%) for Class B shares of the Fund, (c) one hundred and sixty-five basis points (1.65%) for Class C shares of the Fund, (d) one hundred and ten basis points (1.10%) for Class P shares of the Fund, and (e) sixty-five basis points (0.65%) for Class Y shares of the Fund of the average daily net assets in the Fund for the time period set forth in paragraph 3 below.
3. Lord Xxxxxx’x commitment described in paragraphs 1 and 2 will be effective from December 1, 2006 through March 31, 2008.
IN WITNESS WHEREOF, Lord Xxxxxx and the Investment Trust have caused this Agreement to be executed by a duly authorized member and officer, respectively, on the day and year first above written.
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Lord Xxxxxx Investment Trust |
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By: |
/s/ Xxxxxxxxx X. Xxxxxxx |
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Xxxxxxxxx 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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