SUB-ADVISORY AGREEMENTSub-Advisory Agreement • July 27th, 2017 • Delaware Group Foundation Funds
AGREEMENT made by and between DELAWARE MANAGEMENT COMPANY, a series of Delaware Management Business Trust, a Delaware statutory trust (the “Investment Manager”), and JACKSON SQUARE PARTNERS, LLC, a Delaware limited liability company (the “Sub-Adviser’’).
Delaware Management Company 2005 Market Street Philadelphia, PA 19103Delaware Group Foundation Funds • July 27th, 2017
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 series of Delaware Group Foundation Funds set forth below (each a “Fund” ), the Manager shall waive all or a portion of its investment advisory fees and/or pay/reimburse expenses (excluding any 12b-1 fees, 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 a Fund’s total annual fund operating expenses (excluding any Excluded Expenses) exceed the percentages set forth below for the period from July 29, 2017 through July 30, 2018. For
