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 1st day of May, 2011 between Lord, Xxxxxx & Co. LLC (“Lord Xxxxxx”) and Lord Xxxxxx Series Fund, Inc. (the “Company”) with respect to its Portfolios named below (each a “Portfolio”):
In consideration of good and valuable consideration, receipt of which is hereby acknowledged, it is agreed as follows:
| 1. | With respect to the Bond-Debenture Portfolio, Lord Xxxxxx agrees for the time period set forth in paragraph 11 below to waive all or a portion of its management fee and bear directly and/or reimburse the Portfolio’s other expenses to the extent necessary so that total net annual operating expenses do not exceed an annual rate of 0.90%. |
| 2. | With respect to the Capital Structure Portfolio, Lord Xxxxxx agrees for the time period set forth in paragraph 11 below to waive all or a portion of its management fee and bear directly and/or reimburse the Portfolio’s other expenses to the extent necessary so that total net annual operating expenses do not exceed an annual rate of 1.15%. |
| 3. | With respect to the Classic Stock Portfolio, Lord Xxxxxx agrees for the time period set forth in paragraph 11 below to waive all or a portion of its management fee and bear directly and/or reimburse the Portfolio’s other expenses to the extent necessary so that total net annual operating expenses do not exceed an annual rate of 0.95%. |
| 4. | With respect to the Developing Growth Portfolio, Lord Xxxxxx agrees for the time period set forth in paragraph 11 below to waive all or a portion of its management fee and bear directly and/or reimburse the Portfolio’s other expenses to the extent necessary so that total net annual operating expenses do not exceed an annual rate of 0.90%. |
| 5. | With respect to the Fundamental Equity Portfolio, Lord Xxxxxx agrees for the time period set forth in paragraph 11 below to waive all or a portion of its management fee and bear directly and/or reimburse the Portfolio’s other expenses to the extent necessary so that total net annual operating expenses do not exceed an annual rate of 1.15%. |
| 6. | With respect to the International Core Equity Portfolio, Lord Xxxxxx agrees for the time period set forth in paragraph 11 below to waive all or a portion of its management fee and bear directly and/or reimburse the Portfolio’s other expenses to the extent necessary so that total net annual operating expenses do not exceed an annual rate of 0.87%. |
| 7. | With respect to the Growth Opportunities Portfolio, Lord Xxxxxx agrees for the time period set forth in paragraph 11 below to waive all or a portion of its management fee and bear directly and/or reimburse the Portfolio’s other expenses to the extent necessary so that total net annual operating expenses do not exceed an annual rate of 1.20%. |
| 8. | With respect to the International Opportunities Portfolio, Lord Xxxxxx agrees for the time period set forth in paragraph 11 below to waive all or a portion of its management fee and bear directly and/or reimburse the Portfolio’s other expenses to the extent necessary so that total net annual operating expenses do not exceed an annual rate of 1.20%. |
| 9. | With respect to the Total Return Portfolio, Lord Xxxxxx agrees for the time period set forth in paragraph 11 below to waive all or a portion of its management fee and bear directly and/or reimburse the Portfolio’s other expenses to the extent necessary so that total net annual operating expenses do not exceed an annual rate of 0.64%. |
| 10. | With respect to the Value Opportunities Portfolio, Lord Xxxxxx agrees for the time period set forth in paragraph 11 below to waive all or a portion of its management fee and to bear directly and/or reimburse the Portfolio’s other expenses to the extent necessary so that total net annual operating expenses do not exceed an annual rate of 1.10%. |
| 11. | This Agreement will be effective from May 1, 2011 through April 30, 2012. This Agreement may be terminated with respect to any Portfolio 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.
| LORD XXXXXX SERIES 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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