EXPENSE REIMBURSEMENT AGREEMENT
Exhibit 99.d.(xi)
EXPENSE REIMBURSEMENT AGREEMENT
This Expense Reimbursement Agreement (this “Agreement”) is made and entered into this 1st day of November 2006 between Lord, Xxxxxx & Co. LLC (“Lord Xxxxxx”) and Lord Xxxxxx Securities Trust (the “Securities Trust”) with respect to the Lord Xxxxxx Large-Cap Value Fund, Lord Xxxxxx Micro-Cap Growth Fund, Lord Xxxxxx Micro-Cap Value Fund, and Lord Xxxxxx International Core Equity Fund, (each a “Fund”), Lord Xxxxxx Value Opportunities Fund (the “Fund”).
In consideration of good and valuable consideration, receipt of which is hereby acknowledged, it is agreed as follows:
1. With respect to each of the Lord Xxxxxx Micro-Cap Growth Fund, and Lord Xxxxxx Micro-Cap Value Fund, Lord Xxxxxx agrees to bear directly and/or reimburse the Funds for expenses if and to the extent that Total Operating Expenses exceed or would otherwise exceed an annual rate of (a) two hundred and ten (2.10%) for Class A shares of the Funds, and (b) one hundred eighty-five basis points (1.85%) for Class Y shares of the Funds of the average daily net assets in the Funds for the time period set forth in paragraph 4 below.
2. With respect to the Lord Xxxxxx Large-Cap Value Fund, 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) ninety-five basis points (0.95%) for Class A shares of the Fund, (b) one hundred and sixty basis points (1.60%) for Class B shares of the Fund, (c) one hundred and sixty basis points (1.60%) for Class C shares of the Fund, (d) one hundred and five basis points (1.05%) for Class P shares of the Fund, and (e) sixty basis points (0.60%) for Class Y shares of the Fund of the average daily net assets in the Fund for the time period set forth in paragraph 4 below.
3. With respect to the Lord Xxxxxx Value Opportunities Fund, 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) one hundred and thirty basis points (1.30%) for Class A shares of the Fund, (b) one hundred and ninety-five basis points (1.95%) for Class B shares of the Fund, (c) one hundred and ninety-five basis points (1.95%) for Class C shares of the Fund, (d) one hundred and forty basis points (1.40%) for Class P shares of the Fund, and (e) ninety-five basis points (0.95%) for Class Y shares of the Fund of the average daily net assets in the Fund for the time period set forth in paragraph 4 below.
4. Lord Xxxxxx’x commitment described in paragraphs 1, 2 and 3 will be effective from November 1, 2006 through February 28, 2008.
IN WITNESS WHEREOF, Lord Xxxxxx and the Lord Xxxxxx Securities Trust have caused this Agreement to be executed by a duly authorized member and officer, respectively, on the day and year first above written.
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Lord Xxxxxx Securities Trust |
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By: |
/s/ Xxxxxxxxx X. Xxxxxxx |
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Xxxxxxxxx X. Xxxxxxx |
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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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