MANAGEMENT FEE WAIVER AND EXPENSE LIMITATION AGREEMENT
MANAGEMENT FEE WAIVER AND EXPENSE LIMITATION AGREEMENT
This Management Fee Waiver and Expense Limitation Agreement (the “Agreement”) is made and entered into this 15th day of June 2011 between Lord, Xxxxxx & Co. LLC (“Lord Xxxxxx”) and Lord Xxxxxx Securities Trust (the “Trust”) with respect to the Lord Xxxxxx Growth Leaders Fund (the “Growth Leaders Fund”).
In consideration of good and valuable consideration, receipt of which is hereby acknowledged, it is agreed as follows:
| 1. | With respect to the Growth Leaders Fund, Lord Xxxxxx agrees for the time period set forth in paragraph 2 below to waive all or a portion of its management fee and bear directly and/or reimburse the Fund’s other expenses to the extent necessary so that total net annual operating expenses for each class, excluding 12b-1 fees, do not exceed an annual rate of 0.50%. |
| 2. | This Agreement will be effective from June 15, 2011 through February 28, 2013. This Agreement may be terminated only by the Board of Trustees of the Trust upon written notice to Lord Xxxxxx. |
IN WITNESS WHEREOF, Lord Xxxxxx and the Trust 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.
| LORD XXXXXX SECURITIES TRUST | ||
| By: |
/s/ Xxxxxx X. Xxxxxxxx | |
| Xxxxxx X. Xxxxxxxx | ||
| Vice President and Assistant Secretary | ||
| LORD, XXXXXX & CO. LLC | ||
| By: |
/s/ Xxxxxxxx X. Xxxxxx | |
| Xxxxxxxx X. Xxxxxx | ||
| Member and General Counsel | ||
