Exhibit 99.(d)(v)
EXPENSE REIMBURSEMENT AGREEMENT
THIS EXPENSE REIMBURSEMENT AGREEMENT (this "Agreement") is made and
entered into this 30th day of December 2004 between Lord, Xxxxxx & Co. LLC
("Lord Xxxxxx") and Lord Xxxxxx Municipal Income Trust (the "Municipal Trust")
with respect to the Lord Xxxxxx High Yield Municipal Bond Fund (the "Fund").
In consideration of good and valuable consideration, receipt of which
is hereby acknowledged, it is agreed as follows:
1. Lord Xxxxxx agrees to bear directly and/or reimburse the Fund for
expenses if and to the extent that Total Operating Expenses exceed
or would otherwise exceed an annual rate of (a) twenty five basis
points (.25%) for Class A shares of the Fund (b) one hundred basis
points (1.00%) for class B shares of the Fund (c) one hundred
basis points (1.00%) for class C shares of the Fund and (d) forty
five basis points (.45%) for class P shares of the Fund of the
average daily net assets in the Fund for the time period set forth
below.
2. Lord Xxxxxx'x commitment described in paragraph 1 will be
effective from December 1, 2004 through September 30, 2005.
IN WITNESS WHEREOF, Lord Xxxxxx and the Municipal Trust have caused
this Agreement to be executed by a duly authorized member and officer,
respectively, and the Municipal Trust has affixed its corporate seal hereto, all
on the day and year first above written.
LORD XXXXXX MUNICIPAL INCOME TRUST
By: /s/ Xxxxxx X. Xxx
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Xxxxxx X. Xxx
Chairman of the Board
LORD, XXXXXX & CO. LLC
By: /s/ Xxxx X. Xxxxxxx
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Xxxx X. Xxxxxxx
Member and General Counsel
