0001193125-12-257364 Sample Contracts

CUSTODY AGREEMENT by and between IVY FUNDS on behalf of EACH OF THE FUNDS LISTED ON SCHEDULE I HERETO and THE BANK OF NEW YORK MELLON
Custody Agreement • June 1st, 2012 • Ivy Funds • New York

CUSTODY AGREEMENT, dated as of March 9, 2012 (“Agreement”) between IVY FUNDS, a trust organized under the laws of the State of Delaware (the “Trust”), on behalf of its series identified on Schedule I – List of Funds hereto, as such Schedule may be amended from time to time (each such series and each series made subject to this Agreement in accordance with Section 11.12 below, a “Fund”) and THE BANK OF NEW YORK MELLON, a bank organized under the laws of the state of New York (the “Custodian”).

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DISTRIBUTION AGREEMENT
Distribution Agreement • June 1st, 2012 • Ivy Funds • Kansas

THIS AGREEMENT, made as of November 13, 2008, and as amended May 22, 2012, is entered into by and between Ivy Funds (hereinafter the “Trust”), a Delaware statutory trust, and Ivy Funds Distributor, Inc. (hereinafter “IFDI”), a Florida corporation.

EXPENSE REIMBURSEMENT AGREEMENT
Expense Reimbursement Agreement • June 1st, 2012 • Ivy Funds

EXPENSE REIMBURSEMENT AGREEMENT, by and between Ivy Investment Management Company (“IICO”), Ivy Funds Distributor, Inc. (“IFDI”) and Waddell & Reed Services Company, doing business as WI Services Company (“WISC”) and Ivy Funds, on behalf of its series designated Ivy Global Equity Income Fund (the “Fund”).

SHAREHOLDER SERVICING AGREEMENT
Shareholder Servicing Agreement • June 1st, 2012 • Ivy Funds • Kansas

THIS AGREEMENT, made as of November 13, 2008 and as amended May 22, 2012, is entered into by and between Ivy Funds (the “Trust”) and Waddell & Reed Services Company (“WRSCO”).

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