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 March, 2008 between Lord, Xxxxxx & Co. LLC (“Lord Xxxxxx”) and Lord Xxxxxx Securities Trust (the “Securities Trust”) with respect to the Lord Xxxxxx Micro-Cap Growth Fund, Lord Xxxxxx Micro-Cap Value Fund, Lord Xxxxxx Large-Cap Value Fund, and Lord Xxxxxx Value Opportunities 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 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 a particular annual rate of the average daily net assets of the Fund’s Class A and I shares, as relevant, for the time period set forth in paragraph 4 below. The applicable rates for each Fund are shown below:
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Class A |
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Class I |
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2.10 |
% |
1.85 |
% |
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 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 4 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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0.95 |
% |
1.60 |
% |
1.60 |
% |
0.70 |
% |
0.60 |
% |
1.05 |
% |
1.20 |
% |
1.10 |
% |
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 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 4 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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1.35 |
% |
2.00 |
% |
2.00 |
% |
1.10 |
% |
1.00 |
% |
1.45 |
% |
1.60 |
% |
1.50 |
% |
4. Lord Xxxxxx’x commitment described in paragraphs 1, 2, and 3 will be effective from March 1, 2008 through February 28, 2009.
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.
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LORD XXXXXX SECURITIES TRUST |
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By: |
/s/ Xxxxxx X. Xxxxxxxx |
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Xxxxxx X. Xxxxxxxx |
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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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