0001386893-07-000004 Sample Contracts

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Delaware Management Company 2005 Market Street Philadelphia, PA 19103
Expense Limitations Agreement • January 26th, 2007 • Delaware Group Foundation Funds

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 Aggressive Allocation Portfolio, Delaware Moderate Allocation Portfolio, and Delaware Conservative Allocation Portfolio (collectively, the "Portfolios"), which are series of Delaware Group Foundation Funds, the Manager shall waive all or a portion of its investment advisory fees and/or reimburse expenses (excluding any 12b-1 plan expenses, taxes, interest, inverse floater program expenses, 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, "non-routine expenses"]) in an aggregate amount equal to the amount by which the Portfolios' res

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