Delaware Management Company 100 Independence, 610 Market Street Philadelphia, PA 19106-2354
EX-99.d.2
Delaware Management Company
000 Xxxxxxxxxxxx, 000 Xxxxxx Xxxxxx
Xxxxxxxxxxxx, XX 00000-0000
April 22, 2024
Delaware VIP Trust
000 Xxxxxxxxxxxx, 000 Xxxxxx Xxxxxx
Xxxxxxxxxxxx, XX 00000-0000
Re: Expense Limitations
To whom it may concern:
By our execution of this letter agreement (the "Agreement"), intending to be legally bound hereby, Delaware Management Company, a series of Macquarie Investment Management Business Trust (the “Manager”), agrees that in order to improve the performance of the series of Delaware VIP Trust set forth below (each a “Series”), 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, short sale dividend and 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, the “Excluded Expenses”)) in an aggregate amount equal to the amount by which the Series’ total annual series operating expenses (excluding any Excluded Expenses) exceed the percentages set forth below for the period from May 1, 2024 through April 30, 2025. For purposes of this Agreement, Excluded Expenses may also include such additional costs and expenses as may be agreed upon from time to time by the Series’ Board of Trustees and the Manager.
| Fund | Expense Cap |
| Macquarie VIP Emerging Markets Series (formerly, Delaware VIP Emerging Markets Series) |
1.18% |
| Macquarie VIP Fund for Income Series (formerly, Delaware VIP Fund for Income Series) |
0.74% |
| Macquarie VIP Growth and Income Series (formerly, Delaware VIP Growth and Income Series) |
0.72% |
| Macquarie VIP Growth Equity Series (formerly, Delaware VIP Growth Equity Series) |
0.79% |
| Macquarie VIP Investment Grade Series (formerly, Delaware VIP Investment Grade Series) |
0.63% |
| Macquarie VIP Limited Duration Bond Series (formerly, Delaware VIP Limited Duration Bond Series) |
0.53% |
| Macquarie VIP Opportunity Series) (formerly, Delaware VIP Opportunity Series) |
0.83% |
| Macquarie VIP Small Cap Value Series (formerly, Delaware VIP Small Cap Value Series) |
0.78% |
| Macquarie VIP Total Return Series (formerly, Delaware VIP Total Return Series) |
0.83% |
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 Series expenses at any time in the future.
Delaware Management Company, a series of
Macquarie Investment Management Business Trust
| By: | /s/ Xxxxxxx Xxxxx | ||
| Name: | Xxxxxxx Xxxxx | ||
| Title: | Senior Vice President | ||
