SUB-ADVISORY AGREEMENTSub-Advisory Agreement • March 29th, 2023 • Delaware Group Equity Funds V
AGREEMENT made by and between DELAWARE MANAGEMENT COMPANY, a series of Macquarie Investment Management Business Trust, a Delaware statutory trust (the “Investment Manager”), and Macquarie Investment management EUROPE LIMITED (the “Sub-Adviser’’).
Delaware Management Company Philadelphia, PA 19106-2354Expense Limitation Agreement • March 29th, 2023 • Delaware Group Equity Funds V
By our execution of this letter agreement (the “Agreement”), intending to be legally bound hereby, Delaware Management Company, a series of Macquarie Investment Management Business Trust (the “Manager”), agrees that in order to improve the performance of the Delaware Wealth Builder Fund (the “Fund”), a series of Delaware Group Equity Funds V, the Manager shall waive all or a portion of its investment advisory fees and/or pay/reimburse expenses (excluding any 12b-1 fees, acquired fund fees and expenses, taxes, interest, short sale dividend and 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 the Fund’s total annual fund operating expenses (excluding any Excluded Expenses) exceed the percentages set forth below. For purposes o
