0001206774-12-000847 Sample Contracts

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Delaware Distributors, L.P. 2005 Market Street Philadelphia, PA 19103
Delaware Group Equity Funds I • February 28th, 2012

By our execution of this letter agreement (the “Agreement”), intending to be legally bound hereby, Delaware Distributors, L.P. (the “Distributor”), agrees that in order to improve the performance of Delaware Mid Cap Value Fund (the “Fund”), a series of Delaware Group Equity Funds I, the Distributor shall waive a portion of the Rule 12b-1 (distribution) fees for the Fund’s Class A and Class R shares, so that the Fund’s Rule 12b-1 (distribution) fees with respect to its Class A and Class R shares will not exceed 0.25% and 0.50% of its average daily net assets for the period February 28, 2012 through February 28, 2013.

Delaware Management Company 2005 Market Street Philadelphia, PA 19103
Delaware Group Equity Funds I • February 28th, 2012

By our execution of this letter agreement (the “Agreement”), intending to be legally bound hereby, Delaware Management Company, a series of Delaware Management Business Trust (the “Manager”), agrees that in order to improve the performance of Delaware Mid Cap Value Fund (the “Fund”), a series of Delaware Group Equity Funds I, the Manager shall waive all or a portion of its investment advisory fees and/or reimburse expenses (excluding any 12b-1 fees, taxes, interest, brokerage fees, short-sale dividend and interest expenses, certain insurance costs, and non-routine 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 operating expenses (excluding any Excluded Expenses) exceed 1.00% of the Fund’s average daily net assets for the period February 28, 2012 through February 28, 2013. For pur

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