0001105607-08-000143 Sample Contracts

EXPENSE REIMBURSEMENT AGREEMENT
Expense Reimbursement Agreement • July 30th, 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 Bond Fund, Ivy Cundill Global Value Fund, Ivy Dividend Opportunities Fund, Ivy Global Natural Resources Fund, Ivy International Balanced Fund, Ivy International Core Equity Fund, Ivy Mortgage Securities Fund, and Ivy Real Estate Securities Fund (each, a "Fund," and, collectively, the "Funds").

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EXPENSE REIMBURSEMENT AGREEMENT
Expense Reimbursement Agreement • July 30th, 2008 • Ivy Funds

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

EXPENSE REIMBURSEMENT AGREEMENT
Expense Reimbursement Agreement • July 30th, 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 Bond Fund and Ivy International Growth Fund (each, a "Fund," and, collectively, the "Funds").

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