Common use of Establishment and Designation of Sub-Trusts Clause in Contracts

Establishment and Designation of Sub-Trusts. Without limiting the Trustees' authority to establish further sub-trusts pursuant to Section 4.1, the Trustees hereby establish the following sub-trusts: ICON Materials Fund ICON Asia Region Fund ICON Consumer Discretionary Fund ICON South Pacific Region Fund ICON Energy Fund ICON North Europe Region Fund ICON Financial Fund ICON South Europe Region Fund ICON Healthcare Fund ICON Western Hemisphere Fund ICON Information Technology Fund ICON Short-Term Fixed Income Fund ICON Industrials Fund ICON Leisure and Consumer Staples Fund ICON Telecommunication & Utilities Fund ICON Fund with two classes of shares, Class C and Class I, subject to different distribution and service fees as follows: 1.00% and 0.25%, respectively. WITNESS WHEREOF, our hands this 13th day of February, 2001. /s/ Xxxx X. Xxxxxxx /s/ Xxxxx X. Hire ---------------------------------- -------------------------------- Xxxx X. Xxxxxxx, Trustee Xxxxx X. Hire, Trustee /s/ Xxxxx X. Xxxxxxxx /s/ R. Xxxxxxx Xxxxxx ---------------------------------- -------------------------------- Xxxxx X. Xxxxxxxx, Trustee R. Xxxxxxx Xxxxxx, Trustee STATE OF COLORADO ) ) ss: COUNTY OF ARAPAHOE ) Before me, a Notary Public in and for said county and state, personally appeared the above named persons, who acknowledged that they did sign the foregoing instrument in the capacity indicated, and that the same is their free act and deed on this 13th day of February 2001. Signature of Notary Public: -----------------------

Establishment and Designation of Sub-Trusts. Without limiting the Trustees' authority to establish further sub-trusts pursuant to Section 4.1, the Trustees hereby establish the following sub-trusts: ICON Materials Fund ICON Asia - Pacific Region Fund ICON Consumer Discretionary Fund ICON South Pacific North Europe Region Fund ICON Energy Fund ICON North South Europe Region Fund ICON Financial Fund ICON South Europe Region Fund ICON Healthcare Fund ICON Western Hemisphere Fund ICON Information Technology Healthcare Fund ICON Short-Term Fixed Income Fund ICON Industrials Information Technology Fund ICON Leisure and Consumer Staples Fund ICON Industrials Fund ICON Telecommunication & Utilities Fund ICON Fund with two classes of shares, Class C and Class I, subject to different distribution and service fees as follows: 1.00% and 0.25%, respectively. WITNESS WHEREOF, our hands this 13th 1st day of FebruaryAugust, 2001. /s/ Xxxx X. Xxxxxxx /s/ Xxxxx X. Hire ---------------------------------- -------------------------------- Xxxx X. Xxxxxxx, Trustee Xxxxx X. Hire, Trustee /s/ Xxxxx X. Xxxxxxxx /s/ R. Xxxxxxx Xxxxxx ---------------------------------- -------------------------------- Xxxxx X. Xxxxxxxx, Trustee R. Xxxxxxx Xxxxxx, Trustee STATE OF COLORADO ) ) ss: COUNTY OF ARAPAHOE ) Before me, a Notary Public in and for said county and state, personally appeared the above named persons, who acknowledged that they did sign the foregoing instrument in the capacity indicated, and that the same is their free act and deed on this 13th ____ day of February _____________ 2001. Signature of Notary Public: ---------------------------------------------

Establishment and Designation of Sub-Trusts. Without limiting the Trustees' authority to establish further sub-trusts pursuant to Section 4.1, the Trustees hereby establish the following sub-trusts: ICON Materials Fund ICON Asia Region Fund FUNDS WITH NO DISTRIBUTION PLAN ICON Consumer Discretionary Fund ICON South Asia-Pacific Region Fund ICON Energy Fund ICON North Europe Region Fund ICON Financial Services Fund ICON South Europe Region Fund ICON Healthcare Fund ICON Western Hemisphere Fund ICON Information Technology Fund ICON Industrials Fund ICON Leisure & Consumer Staples Fund ICON Materials Fund ICON Short-Term Fixed Income Fund ICON Industrials Fund ICON Leisure and Consumer Staples Fund ICON Telecommunication & Utilities Fund FUNDS WITH DISTRIBUTION PLAN (CLASS C AND CLASS I) ICON Core Equity Fund with two classes of shares, Class C and Class I, subject to different distribution and service fees as follows: 1.00% and 0.25%, respectively. ICON Bond Fund ICON Covered Call Fund ICON Equity Income Fund ICON Long/Short Fund IN WITNESS WHEREOF, our hands this 13th 30th day of FebruaryAugust, 20012002. /s/ Xxxx X. Xxxxxxx /s/ Xxxxx X. Hire ---------------------------------- -------------------------------- Xxxx X. Xxxxxxx, Trustee Xxxxx X. Hire, Trustee /s/ Xxxxx X. Xxxxxxxx /s/ R. Xxxxxxx Xxxxxx ---------------------------------- -------------------------------- Xxxxx X. Xxxxxxxx, Trustee R. Xxxxxxx Xxxxxx, Trustee STATE Andra C. Ozols ------------------------------------------ Andra C. Ozols Vice President and Sxxxxxxxx XXATE OF COLORADO ) ) )ss: . COUNTY OF ARAPAHOE ) Before me, a Notary Public in and for said county and state, personally appeared the above named persons, who acknowledged that they did sign the foregoing instrument in the capacity indicated, and that the same is their free act and deed on this 13th 30th day of February 2001August, 2002. Signature of Notary Public: -----------------------/s/ Terri L. Smedra ------------------------------------ My Commission Expires: November 5, 2005

Establishment and Designation of Sub-Trusts. Without limiting the Trustees' authority to establish further sub-trusts pursuant to Section 4.1, the Trustees hereby establish the following sub-trusts: ICON Materials Fund ICON Asia Region Fund FUNDS WITH NO DISTRIBUTION PLAN ICON Consumer Discretionary Fund ICON South Pacific Region Leisure and Consumer Staples Fund ICON Energy Fund ICON North Europe Region Materials Fund ICON Financial Fund ICON South Europe Region Fund ICON Healthcare Fund ICON Western Hemisphere Fund ICON Information Technology Services Fund ICON Short-Term Fixed Income Fund ICON Industrials Healthcare Fund ICON Leisure and Consumer Staples Fund ICON Telecommunication Telecommunications & Utilities Fund ICON Information Technology Fund with two classes of sharesICON Europe Fund ICON Industrials Fund ICON Western Hemisphere Fund ICON Asia-Pacific Region Fund FUNDS WITH DISTRIBUTION PLAN (CLASS C, Class C and Class I, subject to different distribution and service fees as follows: 1.00% and 0.25%, respectively. CLASS I AND CLASS Z) ICON Bond Fund ICON Core Equity Fund ICON Covered Call Fund ICON Equity Income Fund ICON International Equity Fund ICON Long/Short Fund IN WITNESS WHEREOF, our hands my hand this 13th 14th day of FebruaryNovember, 20012003. /s/ Xxxx X. Xxxxxxx /s/ Andra C. Ozols ---------------------------- Xxxxx X. Hire ---------------------------------- -------------------------------- Xxxx X. Xxxxxxx, Trustee Xxxxx X. Hire, Trustee /s/ Xxxxx X. Xxxxxxxx /s/ R. Xxxxxxx Xxxxxx ---------------------------------- -------------------------------- Xxxxx X. Xxxxxxxx, Trustee R. Xxxxxxx Xxxxxx, Trustee STATE C. Ozols Vice President and Sxxxxxxxx XXXTE OF COLORADO ) ) ss: . COUNTY OF ARAPAHOE ) Before me, a Notary Public in and for said county and state, personally appeared the above named persons, who acknowledged that they did sign the foregoing instrument in the capacity indicated, and that the same is their free act and deed on this 13th 14th day of February 2001November, 2003. Signature of Notary Public: -----------------------/s/ Terri L. Smedra -------------------- My Commission Expires: November 5, 2005

Establishment and Designation of Sub-Trusts. Without limiting the Trustees' authority to establish further sub-trusts pursuant to Section 4.1, the Trustees hereby establish the following sub-trusts: FUNDS/CLASSES WITH NO DISTRIBUTION PLAN ICON Materials Asia-Pacific Region Fund ICON Asia Region Healthcare Fund ICON Bond Fund - Class Z ICON Information Technology Fund ICON Consumer Discretionary Fund ICON South Pacific Region Industrials Fund ICON Energy Core Equity Fund - Class Z ICON North Europe Region International Equity Fund - Class Z ICON Financial Covered Call Fund ICON South Europe Region Fund ICON Healthcare Fund ICON Western Hemisphere Fund ICON Information Technology Fund ICON Short-Term Fixed Income Fund ICON Industrials Fund - Class Z ICON Leisure and Consumer Staples Fund ICON Telecommunication Energy Fund ICON Long/Short Fund - Class Z ICON Equity Income Fund - Class Z ICON Materials Fund ICON Europe Fund ICON Telecommunications & Utilities Fund ICON Financial Services Fund with two classes of shares, Class ICON Western Hemisphere Fund FUNDS/CLASSES WITH DISTRIBUTION PLAN (CLASS C and Class AND CLASS I, subject to different distribution and service fees as follows: 1.00% and 0.25%, respectively. ) ICON Bond Fund ICON Core Equity Fund ICON Covered Call Fund ICON Equity Income Fund ICON Long/Short Fund IN WITNESS WHEREOF, our hands my hand this 13th 1st day of FebruaryNovember, 20012004. /s/ Xxxx X. Xxxxxxx /s/ Xxxxx X. Hire ---------------------------------- -------------------------------- Xxxx X. Xxxxxxx, Trustee Xxxxx X. Hire, Trustee /s/ Xxxxx X. Xxxxxxxx /s/ R. Xxxxxxx Xxxxxx ---------------------------------- -------------------------------- Xxxxx X. Xxxxxxxx, Trustee R. Xxxxxxx Xxxxxx, Trustee STATE Andra C. Ozols Andra C. Ozols Vice Xxxxxxxxx xxx Sxxxxxxxx XXXXE OF COLORADO ) ) ss: . COUNTY OF ARAPAHOE ) Before me, a Notary Public in and for said county and state, personally appeared the above named persons, who acknowledged that they did sign the foregoing instrument in the capacity indicated, and that the same is their free act and deed on this 13th 1st day of February 2001November, 2004. Signature of Notary Public: -----------------------/s/ Terri L. Smedra My Commission Expixxx: 00/0/05

Establishment and Designation of Sub-Trusts. ICON Funds - Part C Page 107 of 116 Without limiting the Trustees' authority to establish further sub-trusts pursuant to Section 4.1, the Trustees hereby establish the following sub-trusts: ICON Materials Fund ICON Asia Region Fund ICON Consumer Discretionary Fund ICON South Pacific Region Fund ICON Energy Fund ICON North Europe Region Fund ICON Financial Financials Fund ICON South Europe Region Fund ICON Healthcare Fund ICON Western Hemisphere Fund ICON Information Technology Fund ICON Short-Term Fixed Income Fund ICON Industrials Fund ICON Leisure and Consumer Staples Fund ICON Telecommunication Telecommunications & Utilities Fund ICON Fund with two classes of shares, Class C and Class I, subject to different distribution and service fees as follows: 1.00100% and 0.25%, respectively. WITNESS WHEREOF, our hands this 13th 16th day of FebruaryAugust, 20012000. /s/ Xxxx X. Xxxxxxx /s/ Xxxxx X. Hire ---------------------------------- -------------------------------- /s/________________________ /s/________________________ Xxxx X. Xxxxxxx, Trustee Xxxxx X. Hire, Trustee /s/ Xxxxx X. Xxxxxxxx /s/ R. Xxxxxxx Xxxxxx ---------------------------------- -------------------------------- /s/________________________ /s/________________________ Xxxxx X. Xxxxxxxx, Trustee R. Xxxxxxx Xxxxxx, Trustee STATE OF COLORADO ) ) ss: COUNTY OF ARAPAHOE ) Before me, a Notary Public in and for said county and state, personally appeared the above named personslist names, who acknowledged that they did sign the foregoing instrument in the capacity indicated, indicated and that the same is their his free act and deed on this 13th 16th day of February 2001August 2000. My Commission Expires: _____________________________ Signature of Notary Public: -----------------------/s/_____________________________ -------------------------------------------------------------------------------- ICON Funds - Part C Page 108 of 116

Establishment and Designation of Sub-Trusts. Without limiting the Trustees' authority to establish further sub-trusts pursuant to Section 4.1, the Trustees hereby establish the following sub-trusts: FUNDS WITH NO DISTRIBUTION PLAN ICON Materials Fund ICON Asia Asia-Pacific Region Fund ICON Consumer Discretionary Fund ICON South Pacific Region Fund ICON Energy Fund ICON North Europe Region Fund ICON Financial Energy Fund ICON South Europe Region Fund ICON Healthcare Financial Services Fund ICON Western Hemisphere Fund ICON Information Technology Healthcare Fund ICON Short-Term Fixed Income Fund ICON Industrials Information Technology Fund ICON Leisure and & Consumer Staples Fund ICON Telecommunication Industrials Fund ICON Telecommunications & Utilities Fund FUNDS WITH DISTRIBUTION PLAN (CLASS C AND CLASS I) ICON Fund with two classes of shares, Class C and Class I, subject to different distribution and service fees as follows: 1.00% and 0.25%, respectively. ICON Bond Fund ICON Covered Call Fund ICON Equity Income Fund ICON Long/Short Fund WITNESS WHEREOF, our hands this 13th 14th day of FebruaryMay, 20012002. /s/ Xxxx Glen F. Bergert /x/ X. Xxxxxxx /s/ Xxxxx X. Hire ---------------------------------- -------------------------------- Xxxx X. XxxxxxxXxxxael Sentel ------------------------------------ ------------------------------------ Glen F. Bergert, Trustee Xxxxx X. HireXxxxael Sentel, Trustee /s/ Xxxxx Craix X. Xxxxxxxx /s/ R. Xxxxxxx Xxxxxx ---------------------------------- -------------------------------- Xxxxx X. Xxxxxxxx, Trustee R. Xxxxxxx Xxxxxx------------------------------------ Craig T. Callahan, Trustee STATE OF COLORADO XX XXXXXXXX ) ) ss: . COUNTY OF ARAPAHOE ) Before me, a Notary Public in and for said county and state, personally appeared the above named persons, who acknowledged that they did sign the foregoing instrument in the capacity indicated, and that the same is their free act and deed on this 13th 14th day of February 2001May, 2002. Signature of Notary Public: -----------------------/s/ Terri L. Smedra ------------------- My Commission Expires: November 2, 2005 ----------------

Establishment and Designation of Sub-Trusts. Without limiting the Trustees' authority to establish further sub-trusts pursuant to Section 4.1, the Trustees hereby establish the following sub-trusts: ICON Materials Fund ICON Asia Region Fund FUNDS WITH NO DISTRIBUTION PLAN ICON Consumer Discretionary Fund ICON South Pacific Region Leisure and Consumer Staples Fund ICON Energy Fund ICON North Europe Region Materials Fund ICON Financial Fund ICON South Europe Region Fund ICON Healthcare Fund ICON Western Hemisphere Fund ICON Information Technology Services Fund ICON Short-Term Fixed Income Fund ICON Industrials Healthcare Fund ICON Leisure and Consumer Staples Fund ICON Telecommunication Telecommunications & Utilities Fund ICON Information Technology Fund with two classes of sharesICON Europe Fund ICON Industrials Fund ICON Western Hemisphere Fund ICON Asia-Pacific Region Fund FUNDS WITH DISTRIBUTION PLAN (CLASS C, Class C and Class I, subject to different distribution and service fees as follows: 1.00% and 0.25%, respectively. CLASS I AND CLASS Z) ICON Bond Fund ICON Core Equity Fund ICON Covered Call Fund ICON Equity Income Fund ICON International Equity Fund ICON Long/Short Fund IN WITNESS WHEREOF, our hands my hand this 13th 14th day of FebruaryNovember, 20012003. /s/ Xxxx X. Xxxxxxx /s/ Xxxxx X. Hire ---------------------------------- -------------------------------- Xxxx X. Xxxxxxx, Trustee Xxxxx ---------------------------- Xxxxx X. Hire, Trustee /s/ Xxxxx X. Xxxxxxxx /s/ R. Xxxxxxx Xxxxxx ---------------------------------- -------------------------------- Xxxxx X. Xxxxxxxx, Trustee R. Xxxxxxx Xxxxxx, Trustee Vice President and Secretary STATE OF COLORADO ) ) ss: . COUNTY OF ARAPAHOE ) Before me, a Notary Public in and for said county and state, personally appeared the above named persons, who acknowledged that they did sign the foregoing instrument in the capacity indicated, and that the same is their free act and deed on this 13th 14th day of February 2001November, 2003. Signature of Notary Public: -----------------------/s/ Xxxxx X. Xxxxxx -------------------- My Commission Expires: November 5, 2005