EXPENSE REIMBURSEMENT AGREEMENT
Exhibit 99.(d)(xxiii)
EXPENSE REIMBURSEMENT AGREEMENT
This Expense Reimbursement Agreement (this “Agreement”) is made and entered into this 1st day of April, 2008 between Lord, Xxxxxx & Co. LLC (“Lord Xxxxxx”) and Lord Xxxxxx Investment Trust (“Investment Trust”) with respect to the Lord Xxxxxx Core Fixed Income Fund, Lord Xxxxxx Short Duration Income Fund, Lord Xxxxxx Total Return Fund, and Lord Xxxxxx Income Fund (each a “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 Core Fixed Income Fund, Lord Xxxxxx Short Duration Income Fund, and Lord Xxxxxx Total Return Fund, Lord Xxxxxx agrees to bear directly and/or reimburse the Fund for expenses if and to the extent that Total Operating Expenses (excluding interest and related expenses associated with the Fund’s investments in reverse repurchase agreements) exceed or would otherwise exceed a particular annual rate of the average daily net assets of the Fund’s Class A, B, C, F, I, P, R2, and R3 shares, as relevant, for the time period set forth in paragraph 3 below. The applicable rates for each Fund are shown below:
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Class A |
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Class B |
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Class C |
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Class F |
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Class I |
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Class P |
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Class R2 |
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Class R3 |
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0.90 |
% |
1.55 |
% |
1.55 |
% |
0.65 |
% |
0.55 |
% |
1.00 |
% |
1.15 |
% |
1.05 |
% |
2. With respect to the Lord Xxxxxx Income Fund, Lord Xxxxxx agrees to bear directly and/or reimburse the Fund for expenses if and to the extent that Total Operating Expenses (excluding interest and related expenses associated with the Fund’s investments in reverse repurchase agreements) exceed or would otherwise exceed a particular annual rate of the average daily net assets of the Fund’s Class A, B, C, F, I, P, R2, and R3 shares, as relevant, for the time period set forth in paragraph 3 below. The applicable rates for the Fund are shown below:
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Class A |
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Class B |
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Class C |
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Class F |
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Class I |
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Class P |
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Class R2 |
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Class R3 |
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1.00 |
% |
1.65 |
% |
1.65 |
% |
0.75 |
% |
0.65 |
% |
1.10 |
% |
1.25 |
% |
1.15 |
% |
3. Lord Xxxxxx’x commitment described in paragraphs 1 and 2 will be effective from April 1, 2008 through March 31, 2009.
IN WITNESS WHEREOF, Lord Xxxxxx and Investment 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.
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LORD XXXXXX INVESTMENT TRUST |
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By: |
/s/ Xxxxxxxx X. Xxxxxxx |
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Xxxxxxxx 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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