Delaware Management CompanyExpense Limitations Agreement • April 27th, 2007 • Delaware Vip Trust
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 Delaware VIP Emerging Markets Series, Delaware VIP High Yield Series, and Delaware REIT Series (collectively, the “Funds”), which are series of Delaware VIP Trust, the Manager shall waive all or a portion of its investment advisory fees and/or reimburse expenses (excluding any 12b-1 plan expenses, taxes, interest, inverse floater program expenses, brokerage fees, short-sale dividend and interest expenses, certain insurance costs ,and non-routine expenses or costs, including but not limited to, those relating to reorganizations, litigation, conducting shareholder meetings, and liquidations [collectively, “non-routine expenses”]) in an aggregate amount equal to the amount by which the Funds’ respective total operating expenses (excluding any 12b-1 p
Delaware Distributors, L.P.Expense Limitations Agreement • April 27th, 2007 • Delaware Vip Trust
By our execution of this letter agreement (the “Agreement”), intending to be legally bound hereby, Delaware Distributors, L.P. (the “Distributor”) agrees that in order to improve the performance of Delaware VIP Capital Reserves Series, Delaware VIP Cash Reserve Series, Delaware VIP Balanced Series, Delaware VIP Diversified Income Series, Delaware VIP Emerging Markets Series, Delaware VIP Growth Opportunities Series, Delaware VIP High Yield Series, Delaware VIP International Value Equity Series, Delaware VIP Value Series, Delaware VIP REIT Series, Delaware VIP Select Growth Series, Delaware VIP Small Cap Value Series, Delaware VIP Trend Series, and Delaware VIP US Growth Series (collectively, the “Series”), which are series of Delaware VIP Trust, the Distributor shall waive a portion of the Rule 12b-1 (distribution) fees for the Series’ Service Class Shares, so that such Series’ Rule 12b-1 (distribution) fees will not exceed 0.25% for the period May 1, 2007 through April 30, 2008.
