depth
this dial controls how the lfo is applied to the target parameter. In it's middle position it does nothing and the LFO is disabled. Turn right to add the LFO to the target parameter, turn left to subtract. Some LFO signals oscillate between positive and negative values, in this case the depth direction determines which way it goes first.
rate
the rate dial is divided into tempo synced rates:1/64, 1/32, 1/16, 1/8, 1/4, 1/2, 1/1, 2/1, to the left from the center position. Turning right controls the free rate which is not tempo synced.