EX-99.D.2 2 mimgltgf3517562-ex99d2.htm EXECUTED INVESTMENT ADVISORY EXPENSE LIMITATION LETTER (APRIL 25, 2019)

EX-99.d.2

Delaware Management Company
2005 Market Street
Philadelphia, PA 19103

April 25, 2019

Delaware Group Limited-Term Government Funds
2005 Market Street
Philadelphia, PA 19103

Re: Expense Limitations

Ladies and Gentlemen:

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 Delaware Limited-Term Diversified Income Fund (the “Fund”), a series of Delaware Group Limited-Term Government 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 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 the Fund’s total annual operating expenses (excluding any Excluded Expenses) exceed the percentages set forth below for the period from April 30, 2019 through April 30, 2020. For purposes of this Agreement, Excluded Expenses may also include such additional costs and expenses as may be agreed upon from time to time by the Fund’s Board of Trustees and the Manager.

Class A, Class C,      
Class R, and
Institutional Class Class R6
Expense Cap Expense Cap
0.39% 0.32%

The Manager acknowledges that it (1) shall not be entitled to collect on, or make a claim for, waived fees at any time in the future, and (2) shall not be entitled to collect on, or make a claim for, reimbursed Fund expenses at any time in the future.

Delaware Management Company, a series of
Macquarie Investment Management Business Trust

By: /s/ Richard Salus              
           Name:    Richard Salus
Title: Senior Vice President                      


Your signature below acknowledges acceptance of this Agreement:

Delaware Group Limited-Term Government Funds

By: /s/ Shawn K. Lytle                     
           Name:    Shawn K. Lytle
Title: President & Chief Executive Officer                
Date: April 25, 2019