0001105607-03-000210 Sample Contracts

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EXPENSE REIMBURSEMENT AGREEMENT
Expense Reimbursement Agreement • October 14th, 2003 • Ivy Funds

EXPENSE REIMBURSEMENT AGREEMENT, effective as of November ___, 2003, by and between Waddell & Reed Ivy Investment Company ("WRIICO") and Ivy Funds, on behalf of its series designated the Ivy Mortgage Securities Fund (the "Fund").

WITNESSETH:
Accounting Services Agreement • October 14th, 2003 • Ivy Funds
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