Exhibit 99.(d)(iii)
Addendum to Management Agreement
between Lord Xxxxxx
Municipal Income Trust and Lord, Xxxxxx & Co. LLC
Dated: December 30, 2004 (the "Agreement")
------------------------------------------
Lord, Xxxxxx & Co. LLC and Lord Xxxxxx Municipal Income Trust (the
"Trust"), formerly known as Lord Xxxxxx Tax-Free Income Trust, on behalf of Lord
Xxxxxx High Yield Municipal Bond Fund (the "Fund") do hereby agree that (a) the
annual management fee rate for the Fund with respect to paragraph 2 of the
Agreement shall be as follows: 0.50 of 1% of the first $1 billion of the Fund's
average daily net assets, 0.45 of 1% of the next $1 billion of such assets and
0.40 of 1% of such assets in excess of $2 billion.
For purposes of Section 15 (a) of the Investment Company Act of 1940, this
Addendum and the Agreement shall together constitute the investment advisory
contract of the Fund.
LORD, XXXXXX & CO. LLC
BY: /s/ Xxxx X. Xxxxxxx
----------------------
Xxxx X. Xxxxxxx
Member
Lord Xxxxxx Municipal Income Trust
(on behalf of Lord Xxxxxx High Yield Municipal Bond Fund)
BY: /s/ Xxxxxxxxx X. Xxxxxxx
------------------------
Xxxxxxxxx X. Xxxxxxx
Vice President & Assistant Secretary
Dated: As of December 30, 2004
