0001105607-08-000094 Sample Contracts

INVESTMENT MANAGEMENT AGREEMENT
Investment Management Agreement • April 1st, 2008 • Ivy Funds

THIS AGREEMENT, originally made the 9th day of April, 2003, by and between IVY FUNDS (hereinafter called the "Trust"), on behalf of Ivy Dividend Income Fund, a series of the Trust, and Ivy Investment Management Company (hereinafter called "IICO"), f.k.a. Waddell & Reed Ivy Investment Company, and amended to include each series of the Trust listed in Appendix A (collectively hereinafter called "Funds"),

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ACCOUNTING AND ADMINISTRATIVE SERVICES AGREEMENT Appendix A Series of Ivy Funds
Accounting and Administrative Services Agreement • April 1st, 2008 • Ivy Funds
SHAREHOLDER SERVICING AGREEMENT EXHIBIT B COMPENSATION
Shareholder Servicing Agreement • April 1st, 2008 • Ivy Funds

An amount payable on the first day of each month of $1.5042 for each account of the Trust which was in existence during any portion of the immediately preceding month.

EXPENSE REIMBURSEMENT AGREEMENT
Expense Reimbursement Agreement • April 1st, 2008 • Ivy Funds

EXPENSE REIMBURSEMENT AGREEMENT, by and between Ivy Funds Distributor, Inc. ("IFDI") and Waddell & Reed Services Company ("WRSCO"), and Ivy Funds, on behalf of its series designated Ivy Global Strategic Income Fund (the "Fund").

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