SUB-ADVISORY AGREEMENTSub-Advisory Agreement • March 25th, 2016 • Delaware Group Global & International Funds
AGREEMENT made by and between DELAWARE MANAGEMENT COMPANY, a series of Delaware Management Business Trust, a Delaware statutory trust (the “Investment Manager”), and MACQUARIE FUNDS MANAGEMENT HONG KONG LIMITED, a company formed under the laws of Hong Kong (the “Sub-Adviser’’).
Delaware Management Company 2005 Market Street Philadelphia, PA 19103Delaware Group Global & International Funds • March 25th, 2016
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 the series of Delaware Group Global & International Funds set forth below (each a “Fund” and collectively, the “Funds”), 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 and dividend 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 each Fund’s total operating expenses (excluding any Excluded Expenses) exceed the percentages set forth below for eac
