Exhibit No. EX-99.h.2
Delaware Management Company
0000 Xxxxxx Xxxxxx
Xxxxxxxxxxxx, XX 00000
July 29, 2006
Optimum Fund Trust
0000 Xxxxxx Xxxxxx
Xxxxxxxxxxxx, XX 00000
Re: Expense Limitation
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 the Optimum Large Cap Growth Fund, Optimum Large Cap Value Fund,
Optimum Small Cap Growth Fund, Optimum Small Cap Value Fund, Optimum
International Fund and Optimum Fixed Income Fund (each, a "Fund," and together,
the "Funds"), each of which is a series of the Optimum Fund Trust, the Advisor
shall waive all or a portion of its investment advisory fees and/or reimburse
expenses (excluding any Rule 12b-1 plan expenses, taxes, interest, brokerage
fees, certain insurance costs and extraordinary expenses) in an aggregate amount
equal to the amount by which the total operating expenses (excluding any 12b-1
plan expenses, taxes, interest, brokerage fees, certain insurance costs and
extraordinary expenses) for the period July 29, 2006 through August 1 2007,
exceeds:
o 1.34% for Optimum Large Cap Growth Fund;
o 1.20% for Optimum Large Cap Value Fund;
o 1.60% for Optimum Small Cap Growth Fund;
o 1.41% for Optimum Small Cap Value Fund;
o 1.66% for Optimum International Fund; and
o 0.90% for Optimum Fixed Income Fund.
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:
Optimum Fund Trust, on behalf of the Funds
By: _________________________
Name:
Title:
Date:
