77Q1(e)
EXPENSE REIMBURSEMENT AGREEMENT
This Expense Reimbursement Agreement (this "Agreement") is made and entered
into this 1st day of October 2004 between Lord, Xxxxxx & Co. LLC ("Lord Xxxxxx")
and Lord Xxxxxx Tax-Free Income Fund, Inc. (the "Tax-Free Income Fund") with
respect to the Lord Xxxxxx National Tax-Free Income Fund, Lord Xxxxxx California
Tax-Free Income Fund, Lord Xxxxxx Connecticut Tax-Free Income Fund, Lord Xxxxxx
Hawaii Tax-Free Income Fund, Lord Xxxxxx Minnesota Tax-Free Income Fund, Lord
Xxxxxx Missouri Tax-Free Income Fund, Lord Xxxxxx New Jersey Tax-Free Income
Fund, Lord Xxxxxx New York Tax-Free Income Fund, Lord Xxxxxx Texas Tax-Free
Income Fund, and Lord Xxxxxx Washington Tax-Free Income Fund (each a "Fund") (e)
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 Connecticut Tax-Free Income Fund, Hawaii
Tax-Free Income Fund, Minnesota Tax-Free Income Fund, Missouri
Tax-Free Income Fund, New Jersey Tax-Free Income Fund, and Texas
Tax-Free Income Funds, 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-five basis points (0.95%) for Class A shares of the Funds,
and (b) one hundred and five basis points (1.05%) for Class P shares
of the Funds of the average daily net assets in the Funds for the time
period set forth in paragraph 4 below.
2. With respect to each of the California Tax-Free Income Fund, New York
Tax-Free Income Fund, and Washington Tax-Free Income Funds, 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) ninety-five basis points
(0.95%) for Class A shares of the Funds, (b) one hundred and sixty
basis points (1.60%) for Class C shares of the Funds, and (c) one
hundred and five basis points (1.05%) for Class P shares of the Funds
of the average daily net assets in the Funds for the time period set
forth in paragraph 4 below.
3. With respect to the National Tax-Free Income 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) ninety-five basis points (0.95%) for Class A
shares of the Fund, (b) one hundred and sixty basis points (1.60%) for
Class B shares of the Fund, (c) one hundred and sixty basis points
(1.60%) for Class C shares of the Fund, and (d) one hundred and five
basis points (1.05%) for Class P shares of the Fund of the average
daily net assets in the Fund for the time period set forth in
paragraph 4 below.
4. Lord Xxxxxx'x commitment described in paragraphs 1, 2 and 3 will be
effective from October 1, 2004 through September 30, 2005.
IN WITNESS WHEREOF, Lord Xxxxxx and the Tax-Free Income Fund have caused
this Agreement to be executed by a duly authorized member and officer,
respectively, on the day and year first above written.
LORD XXXXXX TAX-FREE INCOME FUND, INC.
By: /s/ Xxxxxxxxx X. Xxxxxxx
-------------------------------------------
Xxxxxxxxx X. Xxxxxxx
Vice President and Assistant Secretary
LORD, XXXXXX & CO. LLC
By: /s/ Xxxx X. Xxxxxxx
-------------------------------------------
Xxxx X. Xxxxxxx
Member and General Counsel
