Delaware Management Company 2005 Market Street Philadelphia, PA 19103
EX-99.d.3
Delaware Management
Company
0000 Xxxxxx Xxxxxx
Xxxxxxxxxxxx, XX 00000
July 29, 2014
Optimum Fund Trust
0000
Xxxxxx Xxxxxx
Xxxxxxxxxxxx, XX 00000
Re: Expense Limitations
Ladies and Gentlemen:
By our execution of this letter agreement (the “Agreement”), intending to be legally bound hereby, Delaware Management Company, a series of Delaware Management Business Trust (the “Manager”), agrees that in order to improve the performance of each series of Optimum Fund Trust (collectively, the “Funds”), the Manager shall waive all or a portion of its investment advisory fees and/or reimburse expenses (excluding any 12b-1 fees, acquired fund fees and expenses, taxes, interest, short-sale and dividend interest expenses, brokerage fees, certain insurance costs, and nonroutine expenses or costs, including, but not limited to, those relating to reorganizations, litigation, conducting shareholder meetings, and liquidations (collectively, the “Excluded Expenses”)) in an aggregate amount equal to the amount by which a Fund’s total operating expenses (excluding any Excluded Expenses) exceed the percentages set forth below for the period from July 29, 2014 through July 29, 2015. For purposes of this Agreement, nonroutine expenses may also include such additional costs and expenses as may be agreed upon from time to time by the Funds’ Board and the Manager.
| Fund | Expense Cap | |
| Optimum Fixed Income Fund | 0.95% | |
| Optimum International Fund | 1.25% | |
| Optimum Large Cap Growth Fund | 1.12% | |
| Optimum Large Cap Value Fund | 1.08% | |
| Optimum Small-Mid Cap Growth Fund | 1.36% | |
| Optimum Small-Mid Cap Value Fund | 1.35% | |
The Manager acknowledges that it (1) shall not be entitled to collect on, or make a claim for, waived fees at any time in the future, and (2) shall not be entitled to collect on, or make a claim for, reimbursed Fund expenses at any time in the future.
Delaware Management Company, a
series of
Delaware Management Business Trust
| By: | /s/Xxxxxx X. Xxxxx | |
| Name: | Xxxxxx X. Xxxxx | |
| Title: | Executive Vice President & Chief Administrative Officer | |
Your signature below acknowledges acceptance of this Agreement:
| By: | /s/X. Xxxxx Xxxxxxx | |
| Name: | X. Xxxxx Xxxxxxx | |
| Title: | President & Chief Executive Officer | |
| Date: | July 29, 2014 | |
