Expense Limitation Agreement

Exhibit 99.28(d)(iii)

 

Expense Limitation Agreement

 

This Expense Limitation Agreement (the “Agreement”) is made and entered into as of this 1^st day of December, ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇ & Co. llc (“Lord ▇▇▇▇▇▇”), Lord ▇▇▇▇▇▇ Distributor LLC (“Lord ▇▇▇▇▇▇ Distributor”), and Lord ▇▇▇▇▇▇ Equity Trust (the “Trust”) with respect to Lord ▇▇▇▇▇▇ Calibrated Large Cap Value Fund and Lord ▇▇▇▇▇▇ Calibrated Mid Cap Value Fund.

 

In consideration of good and valuable consideration, receipt of which is hereby acknowledged, it is agreed as follows:

1.

With respect to Lord ▇▇▇▇▇▇ Calibrated Large Cap Value Fund, Lord ▇▇▇▇▇▇ agrees for the time period set forth in paragraph 5 below to waive all or a portion of its management and administrative services fees and reimburse the Fund’s other expenses to the extent necessary to limit total net annual operating expenses, excluding 12b-1 fees and any acquired fund fees and expenses, to an annual rate of 0.60% for each class other than Class R6. For the same period, Lord ▇▇▇▇▇▇ agrees to waive all or a portion of its management and administrative services fees and reimburse the Fund’s other expenses to the extent necessary to limit total net annual operating expenses, excluding any acquired fund fees and expenses, to an annual rate of 0.58% for Class R6.

2.

With respect to Lord ▇▇▇▇▇▇ Calibrated Mid Cap Value Fund, Lord ▇▇▇▇▇▇ agrees for the time period set forth in paragraph 5 below to waive all or a portion of its management and administrative services fees and reimburse the Fund’s other expenses to the extent necessary to limit total net annual operating expenses, excluding 12b-1 fees and any acquired fund fees and expenses, to an annual rate of 0.70% for each class other than Class R6. For the same period, Lord ▇▇▇▇▇▇ agrees to waive all or a portion of its management and administrative services fees and reimburse the Fund’s other expenses to the extent necessary to limit total net annual operating expenses, excluding any acquired fund fees and expenses, to an annual rate of 0.65% for Class R6.

3.

To limit each Fund’s total net annual operating expenses as specified above, Lord ▇▇▇▇▇▇ will waive the same amount of management and administrative services fees for each share class, but may reimburse different amounts of shareholder servicing expenses for each share class in its sole discretion.

4.

With respect to each Fund, Lord ▇▇▇▇▇▇ Distributor agrees for the time period set forth in paragraph 5 below to waive the Fund’s 0.10% Rule 12b-1 fee for Class F.

5.

This Agreement will be effective from December 1, 2016 through November 30, 2017. This Agreement may be terminated only by the Board of Trustees of the Trust upon written notice to Lord ▇▇▇▇▇▇.

 

IN WITNESS WHEREOF, Lord ▇▇▇▇▇▇, Lord ▇▇▇▇▇▇ Distributor, and the Trust have caused this Agreement to be executed by a duly authorized member and officer, respectively, to become effective as of the day and year first above written.

 

	LORD ▇▇▇▇▇▇ EQUITY TRUST
	By:	/s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
		▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
		Vice President and Assistant Secretary
	LORD, ▇▇▇▇▇▇ & Co. LLC
	By:	/s/ ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
		▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
		Member and General Counsel
	LORD ▇▇▇▇▇▇ DISTRIBUTOR LLC
	By:	LORD, ▇▇▇▇▇▇ & CO. LLC
	By:	/s/ ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
		▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
		Member and General Counsel