Management Fee Waiver and Expense Limitation Agreement
EXHIBIT-99.28(d)(vii)
Management Fee Waiver and Expense Limitation Agreement
This Management Fee Waiver and Expense Limitation Agreement (the “Agreement”) is made and entered into this 27th day of September, 2012 between Lord, Xxxxxx & Co. LLC (“Lord Xxxxxx”) and Lord Xxxxxx Research Fund, Inc. (the “Company”) with respect to Lord Xxxxxx Calibrated Dividend Growth Fund (“Calibrated Dividend Growth Fund”), formerly known as Lord Xxxxxx Capital Structure Fund, Lord Xxxxxx Classic Stock Fund (“Classic Stock Fund”), and Lord Xxxxxx Growth Opportunities Fund (“Growth Opportunities Fund”) (collectively, the “Funds”).
In consideration of good and valuable consideration, receipt of which is hereby acknowledged, it is agreed as follows:
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With respect to Calibrated Dividend Growth Fund, Lord Xxxxxx agrees for the time period set forth in paragraph 4 below to waive all or a portion of its management fee and, if necessary, reimburse the Fund’s other expenses to the extent necessary so that the total net annual operating expenses for each class, excluding 12b-1 fees, do not exceed an annual rate of 0.60%. |
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With respect to Classic Stock Fund, Lord Xxxxxx agrees for the time period set forth in paragraph 4 below to waive all or a portion of its management fee and, if necessary, reimburse the Fund’s other expenses to the extent necessary so that the total net annual operating expenses for each class, excluding 12b-1 fees, do not exceed an annual rate of 0.63%. |
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With respect to Growth Opportunities Fund, Lord Xxxxxx agrees for the time period set forth in paragraph 4 below to waive all or a portion of its management fee and, if necessary, reimburse the Fund’s other expenses to the extent necessary so that the total net annual operating expenses for each class, excluding 12b-1 fees, do not exceed an annual rate of 1.10%. |
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This Agreement will be effective from September 27, 2012 through March 31, 2014. This Agreement may be terminated only by the Board of Directors of the Company upon written notice to Lord Xxxxxx. |
IN WITNESS WHEREOF, Lord Xxxxxx and the Company 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 Research Fund, Inc. |
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By: |
/s/ Xxxxxx X. Xxxxxxxx |
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Xxxxxx X. Xxxxxxxx |
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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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