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 20^th day of April, 2011 between Lord, ▇▇▇▇▇▇ & Co. LLC (“Lord ▇▇▇▇▇▇”) and Lord ▇▇▇▇▇▇ Investment Trust (the “Trust”) with respect to the Lord ▇▇▇▇▇▇ Inflation Focused Fund (“Inflation Focused Fund”).

In consideration of good and valuable consideration, receipt of which is hereby acknowledged, it is agreed as follows:

1. With respect to the Inflation Focused Fund, Lord ▇▇▇▇▇▇ 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 0.55%.

2. This Agreement will be effective from April 20, 2011 through March 31, 2013. This Agreement may be terminated only by the Board of Trustees of the Trust upon written notice to Lord ▇▇▇▇▇▇.

IN WITNESS WHEREOF, Lord ▇▇▇▇▇▇ 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 ▇▇▇▇▇▇ INVESTMENT TRUST
By:		/s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
		▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
		Vice President and Assistant Secretary
LORD, ▇▇▇▇▇▇ & CO. LLC
By:		/s/ ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
		▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
		Member and General Counsel