AMENDMENT NO. 1 TO
EXHIBIT A
OF THE INVESTMENT MANAGEMENT AGREEEMENT
THIS EXHIBIT to the Investment Management Agreement dated August 27,
1999 (the "Agreement") between DELAWARE GROUP EQUITY FUNDS III and DELAWARE
MANAGEMENT COMPANY, a series of Delaware Management Business Trust (the
"Investment Manager"), amended as of the 22nd day of December, 1999 to add
Delaware American Services Fund, Delaware Large Cap Growth Fund, Delaware
Research Fund and Delaware Technology and Innovation Fund, lists the Funds for
which the Investment Manager provides investment management services pursuant to
this Agreement, along with the management fee rate schedule for each Fund and
the date on which the Agreement became effective for each Fund.
Management Fee Schedule
(as a percentage of
average daily net assets)
Fund Name Effective Date Annual Rate
--------- -------------- -----------
Delaware American December 22, 1999 0.75% on first $500 million
Services Fund 0.70% on next $500 million
0.65% on next $1,500 million
0.60% on assets in excess of
$2,500 million
Delaware Large Cap December 22, 1999 0.65% on first $500 million
Growth Fund 0.60% on next $500 million
0.55% on next $1,500 million
0.50% on assets in excess of
$2,500 million
Delaware Research Fund December 22, 1999 1.00% on first $500 million
0.95% on next $500 million
0.90% on next $1,500 million
0.85% on assets in excess of
$2,500 million
Delaware Technology and December 22, 1999 0.75% on first $500 million
Innovation Fund 0.70% on next $500 million
0.65% on next $1,500 million
0.60% on assets in excess of
$2,500 million
Delaware Trend Fund August 27, 1999 0.75% on first $500 million
0.70% on next $500 million
0.65% on next $1,500 million
0.60% on assets in excess of
$2,500 million
DELAWARE MANAGEMENT COMPANY, DELAWARE GROUP EQUITY
a series of Delaware Management FUNDS III
Business Trust
By: /s/ Xxxxx X. Xxxxxx By: /s/ Xxxxx X. Xxxxxx
------------------------------- --------------------------------
Name: Xxxxx X. Xxxxxx Name: Xxxxx X. Xxxxxx
Title: President Title: President and Chief Executive
Officer
Attest: /s/ Xxxxx X. X'Xxxxxx Attest: /s/ Xxxxxxx X. Xxxxxxxxxx
--------------------------- ----------------------------
Name: Xxxxx X. X'Xxxxxx Name: Xxxxxxx X. Xxxxxxxxxx
Title: Vice President/ Title: Assistant Vice President/
Assistant Secretary Assistant Secretary
2
