Common use of Name of Series Clause in Contracts

Name of Series. The Internet Fund - No Load Class The Internet Fund - Advisor Class A The Internet Fund - Advisor Class C The Internet Fund - Institutional Class The Global Fund - No Load Class The Global Fund - Advisor Class A The Global - Advisor Class C The Global - Institutional Class The Paradigm Fund - No Load Class The Paradigm Fund- Advisor Class A The Paradigm Fund- Advisor Class C The Paradigm Fund - Institutional Class The Small Cap Opportunities Fund - No Load Class The Small Cap Opportunities Fund- Advisor Class A The Small Cap Opportunities Fund - Advisor Class C The Small Cap Opportunities Fund - Institutional Class The Market Opportunities Fund - No Load Class The Market Opportunities Fund - Advisor Class A The Market Opportunities Fund - Advisor Class C The Market Opportunities Fund - Institutional Class The Kinetics Spin-off and Corporate Restructuring Fund - No Load Class The Kinetics Spin-off and Corporate Restructuring Fund - Advisor Class A The Kinetics Spin-off and Corporate Restructuring Fund -Advisor Class C The Kinetics Spin-off and Corporate Restructuring Fund - Institutional Class The Multi-Disciplinary Income Fund – No Load Class (Continuation of Exhibit A) Fund Administration & Portfolio Compliance Services Fee Schedule Master Portfolios Annual Fee Based Upon Average Net Assets per Fund [ ] basis points on the first $1 billion [ ] basis points on the balance Feeder Portfolios Annual Fee Based Upon Average Net Assets per Fund [ ] basis points on the first $1 billion [ ] basis points on the balance Minimum Annual Fee: $[ ] Note: Minimum is based on the combined feeds for both Master Portfolios and the Feeder Funds and does not include pricing of securities. Minimum covers up to nine portfolios with classes plus up to five CFC and five C Corps. Portfolio's above nine will increase the minimum annual fee by $[ ] for each. Services Included in Annual Fee per Fund Advisor Information Source – On-line access to portfolio management and compliance information. Daily Performance Reporting – Daily pre and post-tax fund and/or sub-advisor performance reporting. Core Tax Services – See Additional Services Fee Schedule Performance Delivery $[ ]monthly at the Master level Third Party Administrative Data Charges (descriptive data for each security) $[ ] per security per month for fund administrative data SEC Modernization Requirements - Master Level Form N-PORT – $[ ] per year, per Fund Form N-CEN – $[ ] per year, per Fund SEC Modernization Requirements - Feeder Level Form N-PORT – $[ ] per year, per Fund Chief Compliance Officer Support Fee $[ ] per year per fund complex Miscellaneous Expenses All other miscellaneous fees and expenses, including but not limited to the following, will be separately billed as incurred: postage, stationery, programming, special reports, third-party data provider costs (including Bloomberg, S&P, Moody’s, Morningstar GICS, MSCI, Lipper, etc.), proxies, insurance, XXXXX/XBRL filing, record retention, federal and state regulatory filing fees, expenses related to and including travel to and from Board of directors meetings, third party auditing and legal expenses, wash sales reporting (GainsKeeper), tax e-filing charges, PFIC monitoring and conversion expenses (if necessary).

Name of Series. The Internet Fund - – No Load Class The Internet Fund - – Advisor Class A The Internet Fund - – Advisor Class C The Internet Fund - – Institutional Class The Global Fund - – No Load Class The Global Fund - – Advisor Class A The Global - – Advisor Class C The Global - – Institutional Class The Paradigm Fund - – No Load Class The Paradigm Fund- Fund – Advisor Class A The Paradigm Fund- Fund – Advisor Class C The Paradigm Fund - – Institutional Class The Medical Fund – No Load Class The Medical Fund – Advisor Class A The Medical Fund – Advisor Class C The Medical Fund – Institutional Class The Small Cap Opportunities Fund - – No Load Class The Small Cap Opportunities Fund- Fund – Advisor Class A The Small Cap Opportunities Fund - – Advisor Class C The Small Cap Opportunities Fund - – Institutional Class The Market Opportunities Fund - – No Load Class The Market Opportunities Fund - – Advisor Class A The Market Opportunities Fund - – Advisor Class C The Market Opportunities Fund - – Institutional Class The Alternative Income Fund -- No Load Class The Alternative Income Fund – Advisor Class A The Alternative Income Fund – Advisor Class C The Alternative Income Fund – Institutional Class The Multi-Disciplinary Income Fund – No Load Class The Multi-Disciplinary Income Fund – Advisor Class A The Multi-Disciplinary Income Fund – Advisor Class C The Multi-Disciplinary Income Fund – Institutional Class The Kinetics Spin-off and Corporate Restructuring Fund - – No Load Class The Kinetics Spin-off and Corporate Restructuring Fund - – Advisor Class A The Kinetics Spin-off and Corporate Restructuring Fund -Advisor – Advisor Class C The Kinetics Spin-off and Corporate Restructuring Fund - – Institutional Class The Multi-Disciplinary Income Fund – No Load Class (Continuation of Exhibit A) Fund Administration & Portfolio Compliance Services Fee Schedule Master Portfolios Annual Fee Based Upon Average Net Assets per Fund [ ] basis points on the first $1 billion [ ] basis points on the balance Feeder Portfolios Annual Fee Based Upon Average Net Assets per Fund [ ] basis points on the first $1 billion [ ] basis points on the balance Minimum Annual Fee: $[ ] Note: Minimum is based on the combined feeds for both Master Portfolios and the Feeder Funds and does not include pricing of securities. Minimum covers up to nine portfolios with classes plus up to five CFC and five C Corps. Portfolio's above nine will increase the minimum annual fee by $[ ] for each. Services Included in Annual Fee per Fund Advisor Information Source – On-line access to portfolio management and compliance information. Daily Performance Reporting – Daily pre and post-tax fund and/or sub-advisor performance reporting. Core Tax Services – See Additional Services Fee Schedule Performance Delivery $[ ]monthly at the Master level Third Party Administrative Data Charges (descriptive data for each security) $[ ] per security per month for fund administrative data SEC Modernization Requirements - Master Level Form N-PORT – $[ ] per year, per Fund Form N-CEN – $[ ] per year, per Fund SEC Modernization Requirements - Feeder Level Form N-PORT – $[ ] per year, per Fund Chief Compliance Officer Support Fee $[ ] per year per fund complex Miscellaneous Expenses All other miscellaneous fees and expenses, including but not limited to the following, will be separately billed as incurred: postage, stationery, programming, special reports, third-party data provider costs (including Bloomberg, S&P, Moody’s, Morningstar GICS, MSCI, Lipper, etc.), proxies, insurance, XXXXX/XBRL filing, record retention, federal and state regulatory filing fees, expenses related to and including travel to and from Board of directors meetings, third party auditing and legal expenses, wash sales reporting (GainsKeeper), tax e-filing charges, PFIC monitoring and conversion expenses (if necessary).6/9/2017

Name of Series. The Internet Fund - No Load Class The Internet Fund - Advisor Class A The Internet Fund - Advisor Class C The Internet Fund - Institutional Class The Global Fund - No Load Class The Global Fund - Advisor Class A The Global - Advisor Class C The Global - Institutional Class The Paradigm Fund - No Load Class The Paradigm Fund- Advisor Class A The Paradigm Fund- Advisor Class C The Tactical Paradigm Fund - Institutional Class The Medical Fund The Small Cap Opportunities Fund - No Load Class The Market Opportunities Fund The Alternative Income Fund The Multi-Disciplinary Fund Horizon Spin-off and Corporate Restructuring Fund (Soon to be renamed to Kinetics Spin-off and Corporate Restructuring Fund) Separate Series of Kinetics Portfolios Trust – Master Investment Portfolios Name of Series The Internet Portfolio The Global Portfolio The Paradigm Portfolio The Medical Portfolio The Small Cap Opportunities Fund- Advisor Class A Portfolio The Market Opportunities Portfolio The Alternative Income Portfolio The Multi-Disciplinary Portfolio Amended Exhibit C to the Custody Agreement – Kinetics Mutual Funds, Inc. and Kinetics Portfolios Trust List of Funds as of June 9, 2017 Fee Schedule at December, 2015 Annual Fee Schedule - Domestic Funds/Portfolios Separate Series of Kinetics Mutual Funds, Inc./Kinetics Portfolio Trust Name of Series The Medical Fund/ The Medical Portfolio The Internet Fund/ The Internet Portfolio The Global Fund/ The Global Portfolio The Paradigm Fund/ The Paradigm Portfolio The Small Cap Opportunities Fund - Advisor Class C Fund/ The Small Cap Opportunities Fund - Institutional Class Portfolio The Market Opportunities Fund - No Load Class Fund/The Market Opportunities Fund - Advisor Class A Portfolio The Market Opportunities Fund - Advisor Class C Alternative Income Fund/The Market Opportunities Fund - Institutional Class Alternative Income Portfolio The Multi-Discplinary Fund/The Multi-Discplinary Portfolio The Kinetics Spin-off and Corporate Restructuring Fund - No Load Class The Kinetics Spin-off and Corporate Restructuring Fund - Advisor Class A The Kinetics Spin-off and Corporate Restructuring Fund -Advisor Class C The Kinetics Spin-off and Corporate Restructuring Fund - Institutional Class The Multi-Disciplinary Income Fund – No Load Class (Continuation of Exhibit A) Fund Administration & Portfolio Compliance Services Fee Schedule Master Portfolios Annual Fee Based Upon Average Net Assets fee based upon market value __ basis point per Fund [ ] basis points on the first $1 billion [ ] basis points on the balance Feeder Portfolios Annual Fee Based Upon Average Net Assets per Fund [ ] basis points on the first $1 billion [ ] basis points on the balance year Minimum Annual Fee: $[ ] Note: Minimum is based on the combined feeds for both Master Portfolios and the Feeder Funds and does not include pricing of securities. Minimum covers up to nine portfolios with classes plus up to five CFC and five C Corps. Portfolio's above nine will increase the minimum annual fee by per fund - $[ ] for each_____ Investment transactions (purchase, sale, exchange, tender, redemption, maturity, receipt, delivery): $___ per book entry security (depository or Federal Reserve system) $____ per definitive security (physical) $____ per mutual fund trade $____ per Euroclear $____ per principal reduction on pass-through certificates $____ per option/futures contract $____ per variation margin $____ per Fed wire deposit or withdrawal $____ per repurchase transaction Variable Amount Demand Notes: Used as a short-term investment, variable amount notes offer safety and prevailing high interest rates. Services Included in Annual Fee per Fund Advisor Information Source – On-line access to portfolio management and compliance information. Daily Performance Reporting – Daily pre and post-tax fund and/or sub-advisor performance reporting. Core Tax Services – See Additional Services Fee Schedule Performance Delivery $[ ]monthly Our charge, which is __ of _%, is deducted from the variable amount note income at the Master level Third Party Administrative Data Charges (descriptive data for each security) $[ ] per security per month for fund administrative data SEC Modernization Requirements - Master Level Form Ntime it is credited to your account. Plus out-PORT – $[ ] per year, per Fund Form Nof-CEN – $[ ] per year, per Fund SEC Modernization Requirements - Feeder Level Form N-PORT – $[ ] per year, per Fund Chief Compliance Officer Support Fee $[ ] per year per fund complex Miscellaneous Expenses All other miscellaneous fees and pocket expenses, and extraordinary expenses based upon complexity Fees and out-of-pocket expenses are billed to the fund monthly, based upon market value at the beginning of the month Amended Exhibit C (continued) to the Custody Agreement – Kinetics Mutual Funds, Inc. and Kinetics Portfolios Trust GLOBAL SUB-CUSTODIAL SERVICES ANNUAL FEE SCHEDULE at October, 2013 Country Instrument Safekeeping (BPS) Transaction Fee Country Instrument Safekeeping (BPS) Transaction Fee Argentina All $ Latvia Gov't Bonds $ Australia All $ Lebanon All $ Austria Equities/Bonds $ Lithuania All $ Austria Depo Receipt $ Luxembourg All $ Austria non ATS ALL $ Malaysia All $ Bahrain All $ Mali All $ Bangladesh All $ Malta All $ Belgium All $ Mauritius All $ Benin All $ Mexico All $ Bermuda All $ Morocco All $ Bolivia All $ Namibia All $ Botswana All $ Netherlands All $ Brazil All $ New Zealand All $ Bulgaria All $ Niger All $ Burkina Faso All $ Nigeria All $ Canada All $ Norway All $ Chile All $ Oman All $ China-Shanghai All $ Pakistan All $ China-Shenzhen All $ Palestinian All $ Columbia All $ Panama All $ Costa Rica All $ Peru All $ Croatia All $ Philippines All $ Cyprus All $ Poland All $ Czech Republic All $ Portugal All $ Denmark All $ Qatar All $ EASDAQ All $ Romania All $ Ecuador All $ Russia Equities/Bonds $ Egypt All $ Russia MINFIN $ Estonia All $ Senegal All $ Euromarkets All $ Singapore All $ Finland All $ Slovak Republic All $ France All $ Slovenia All $ Germany All $ South Africa All $ Ghana All $ South Korea All $ Greece All $ Spain All $ Guinea Bissau All $ Sri Lanka All $ Hong Kong All $ Swaziland All $ Hungary All $ Sweden All $ Iceland All $ Switzerland All $ India All $ Taiwan All $ Indonesia All $ Thailand All $ Ireland All $ Togo All $ Israel All $ Trinidad & Tobago All $ Italy All $ Tunisia All $ Ivory Coast All $ Turkey All $ Jamaica All $ United Kingdom All $ Japan All $ Ukraine All $ Jordan All $ Uruguay All $ Kazakhstan Equities $ Venezuela All $ Kazakhstan Bonds $ Zambia All $ Kenya All $ Zimbabwe All $ Latvia Equities/Bonds $ § Euroclear – Eurobonds only. Eurobonds are held in Euroclear at a standard rate, but other types of securities (including but not limited to the followingequities, domestic market debt and mutual funds) will be subject to a surcharge. In addition, certain transactions that are delivered within Euroclear or from a Euroclear account to a third party depository or settlement system, will be separately billed as incurredsubject to a surcharge. § For all other markets specified above, surcharges may apply if a security is held outside of the local market. Amended Exhibit C to the Custody Agreement – Kinetics Mutual Funds, Inc. and Kinetics Portfolios Trust Cash Transactions: postage, stationery, programming, special reports, third-§ 3rd Party Foreign Exchange – a Foreign Exchange transaction undertaken through a 3rd party data provider costs (including Bloomberg, S&P, Moody’s, Morningstar GICS, MSCI, Lipper, etcwill be charged $__.), proxies, insurance, XXXXX/XBRL filing, record retention, federal and state regulatory filing fees, expenses related to and including travel to and from Board of directors meetings, third party auditing and legal expenses, wash sales reporting (GainsKeeper), tax e-filing charges, PFIC monitoring and conversion expenses (if necessary).

Name of Series. The Internet Fund - – No Load Class The Internet Fund - – Advisor Class A The Internet Fund - – Advisor Class C The Internet Fund - – Institutional Class The Global Internet Emerging Growth Fund - – No Load Class The Global Internet Emerging Growth Fund - – Advisor Class A The Global - Internet Emerging Growth Fund – Advisor Class C The Global - Internet Emerging Growth Fund – Institutional Class The Paradigm Fund - – No Load Class The Paradigm Fund- Fund – Advisor Class A The Paradigm Fund- Fund – Advisor Class C The Paradigm Fund - – Institutional Class The Medical Fund – No Load Class The Medical Fund – Advisor Class A The Medical Fund – Advisor Class C The Medical Fund – Institutional Class The Small Cap Opportunities Fund - – No Load Class The Small Cap Opportunities Fund- Fund – Advisor Class A The Small Cap Opportunities Fund - – Advisor Class C The Small Cap Opportunities Fund - – Institutional Class The Kinetics Government Money Market Fund – No Load Class The Kinetics Government Money Market Fund – Advisor Class A The Kinetics Government Money Market Fund – Advisor Class C The Kinetics Government Money Market Fund – Institutional Class The Market Opportunities Fund - – No Load Class The Market Opportunities Fund - – Advisor Class A The Market Opportunities Fund - – Advisor Class C The Market Opportunities Fund - – Institutional Class The Kinetics Spin-off and Corporate Restructuring Water Infrastructure Fund - -- No Load Class The Kinetics Spin-off and Corporate Restructuring Water Infrastructure Fund - – Advisor Class A The Kinetics Spin-off and Corporate Restructuring Water Infrastructure Fund -Advisor – Advisor Class C The Kinetics Spin-off and Corporate Restructuring Water Infrastructure Fund - – Institutional Class The Multi-Disciplinary Income Fund – No Load Class (Continuation of Exhibit A) The Multi-Disciplinary Fund Administration & Portfolio Compliance Services Fee Schedule Master Portfolios – Advisor Class A The Multi-Disciplinary Fund – Advisor Class C The Multi-Disciplinary Fund – Institutional Class Annual Fee Based Upon Average Net Assets $___ per Fund [ ] basis points on the first shareholder account – no load fund $1 billion [ ] basis points on the balance Feeder Portfolios Annual Fee Based Upon Average Net Assets ___ per Fund [ ] basis points on the first shareholder account – load fund $1 billion [ ] basis points on the balance ___ per shareholder account – money market fund $___ per Lxxxx 0 XXXX account $___ per closed account Minimum Annual Fee: $[ ] Note: Minimum is based on the combined feeds for both Master Portfolios and the Feeder Funds and does not include pricing of securities. Minimum covers up to nine portfolios with classes plus up to five CFC and five C Corps. Portfolio's above nine will increase the minimum annual fee by of $[ ] for each. Services Included in Annual Fee _____ per Fund Advisor Information Source – On-line access to portfolio management and compliance information. Daily Performance Reporting – Daily pre and post-tax fund and/or sub-advisor performance reporting. Core Tax Services – See Additional Services Fee Schedule Performance Delivery $[ ]monthly at the Master level Third Party Administrative Data Charges (descriptive data for each security) $[ ] per security per month for fund administrative data SEC Modernization Requirements - Master Level Form N-PORT – $[ ] per year, per Fund Form N-CEN – $[ ] per year, per Fund SEC Modernization Requirements - Feeder Level Form N-PORT – $[ ] per year, per Fund Chief Compliance Officer Support Fee $[ ] per year per fund complex Miscellaneous Expenses All other miscellaneous fees and expenses, including but not limited to the following, will be separately billed as incurred: postage, stationery, programming, special reports, third-party data provider costs (including Bloomberg, S&P, Moody’s, Morningstar GICS, MSCI, Lipper, etc.), proxies, insurance, XXXXX/XBRL filing, record retention, federal and state regulatory filing fees, expenses related to and including travel to and from Board of directors meetings, third party auditing and legal expenses, wash sales reporting (GainsKeeper), tax e-filing charges, PFIC monitoring and conversion expenses (if necessary).class

Name of Series. The Internet Fund - No Load Class The Internet Fund - Advisor Class A The Internet Fund - Advisor Class C The Internet Fund - Institutional Class The Global Fund - No Load Class The Global Fund - Advisor -Advisor Class A The Global Fund - Advisor Class C The Global Fund - Institutional Class The Paradigm Fund - No Load Class The Paradigm Fund- Fund - Advisor Class A The Paradigm Fund- Fund - Advisor Class C The Paradigm Fund - Institutional Class The Medical Fund -No Load Class The Medical Fund - Advisor Class A The Medical Fund - Advisor Class C The Medical Fund - Institutional Class The Small Cap Opportunities Fund - No Load Class The Small Cap Opportunities Fund- Fund - Advisor Class A The Small Cap Opportunities Fund - Advisor Class C The Small Cap Opportunities Fund - Institutional Class The Kinetics Government Money Market Fund - No Load Class The Market Opportunities Fund - No -No Load Class The Market Opportunities Fund - Advisor Class A The Market Opportunities Fund - Advisor Class C The Market Opportunities Fund - Institutional Class The Kinetics Spin-off and Corporate Restructuring Water Infrastructure Fund - No --No Load Class The Kinetics Spin-off and Corporate Restructuring Water Infrastructure Fund - Advisor Class A The Kinetics Spin-off and Corporate Restructuring Water Infrastructure Fund -Advisor - Advisor Class C The Kinetics Spin-off and Corporate Restructuring Water Infrastructure Fund - Institutional Class The Multi-Disciplinary Income Fund – - No Load Class (Continuation of Exhibit A) The Multi-Disciplinary Fund Administration & Portfolio Compliance Services Fee Schedule Master Portfolios - Advisor Class A The Multi-Disciplinary Fund - Advisor Class C The Multi-Disciplinary Fund - Institutional Class Annual Fee Based Upon Average Net Assets $___ per Fund [ ] basis points on the first shareholder account - no load fund $1 billion [ ] basis points on the balance Feeder Portfolios Annual Fee Based Upon Average Net Assets ___ per Fund [ ] basis points on the first shareholder account - load fund $1 billion [ ] basis points on the balance ___ per shareholder account - money market fund $___ per Lxxxx 0 XXXX account $___ per closed account Minimum Annual Fee: $[ ] Note: Minimum is based on the combined feeds for both Master Portfolios and the Feeder Funds and does not include pricing of securities. Minimum covers up to nine portfolios with classes plus up to five CFC and five C Corps. Portfolio's above nine will increase the minimum annual fee by of $[ ] for each. ____ per class Exhibit A (continued) to the Transfer Agent Agreement of Kinetics Mutual Funds, Inc. and Kinetics Portfolios Trust (at October, 2008) Extraordinary Services Included in Annual Fee per New Fund Advisor Information Source – On-line access to portfolio management and compliance information. Daily Performance Reporting – Daily pre and post-tax fund and/or sub-advisor performance reporting. Core Tax Services – See Additional Services Fee Schedule Performance Delivery Programming Fund Group Setup $[ ]monthly at the Master level Third Party Administrative Data Charges (descriptive data for each security) $[ ] per security per month for fund administrative data SEC Modernization Requirements - Master Level Form N-PORT – $[ ] per year, per Fund Form N-CEN – $[ ] per year, per Fund SEC Modernization Requirements - Feeder Level Form N-PORT – $[ ] per year, per Fund Chief Compliance Officer Support Fee $[ ] per year ___ per fund complex Miscellaneous Expenses All other miscellaneous fees and expensesgroup Fund Addition to Existing Group $___ per fund Additional Classes of Existing Fund $___ per class Plus Out-of-Pocket Expenses, including but not limited to: Telephone – tollfree lines Retention of records Postage Microfilm/fiche of records Programming Special reports Stationary/envelopes ACH fees Mailing NSCC charges Insurance All other out-of-pocket expenses Proxies ACH Shareholder Services $___ per month per fund group $___ per account setup and/or change $___ per item for AIP purchases $___ per item for EFT payments and purchases $___ per correction, reversal, return item File Transfer - $__/month and $__/record Dealer Reclaim Services - Services reclaim fund losses due to the following, pricing differences for dealer trade adjustments such as between dealer placed trades and cancellations. There will be separately billed as incurred: postage, stationery, programming, special reports, third-party data provider costs (including Bloomberg, S&P, Moody’s, Morningstar GICS, MSCI, Lipper, etc.), proxies, insurance, XXXXX/XBRL filing, record retention, federal and state regulatory filing fees, expenses no correspondence charges related to this service. · $___ per fund group per month Service Charges to Investors Qualified Plan Fees (Billed to Investors) * Annual maintenance fee per account $ ___ / acct. (Cap at $___ per SSN) Education IXX $ ___ / acct. (Cap at $___ /per SSN) Transfer to successor trustee $ ___ / trans. Distribution to participant $ ___ / trans. (Exclusive of SWP) Refund of excess contribution $ ___ / trans. Additional Shareholder Fees (Billed to Investors) Any outgoing wire transfer $ ___ / wire Telephone exchange $ ___ / exch. Return check fee $ ___ / item Stop payment $ ___ / stop Additional Programming $ ___ / hour (Liquidation, dividend, draft check) Research fee $ ___ / item (For requested items of the second calendar year [or previous] to the request)(Cap at $___) Fees and including travel out-of-pocket expenses are billed to and from Board of directors meetings, third party auditing and legal expenses, wash sales reporting (GainsKeeper), tax e-filing charges, PFIC monitoring and conversion expenses (if necessary)the fund monthly.

Name of Series. The Internet Fund - – No Load Class The Internet Fund - – Advisor Class A The Internet Fund - – Advisor Class C The Internet Fund - – Institutional Class The Global Fund - – No Load Class The Global Fund - – Advisor Class A The Global - – Advisor Class C The Global - – Institutional Class The Paradigm Fund - – No Load Class The Paradigm Fund- Fund – Advisor Class A The Paradigm Fund- Fund – Advisor Class C The Paradigm Fund - – Institutional Class The Medical Fund – No Load Class The Medical Fund – Advisor Class A The Medical Fund – Advisor Class C The Medical Fund – Institutional Class The Small Cap Opportunities Fund - – No Load Class The Small Cap Opportunities Fund- Fund – Advisor Class A The Small Cap Opportunities Fund - – Advisor Class C The Small Cap Opportunities Fund - – Institutional Class The Market Opportunities Fund - – No Load Class The Market Opportunities Fund - – Advisor Class A The Market Opportunities Fund - – Advisor Class C The Market Opportunities Fund - – Institutional Class The Alternative Income Fund -- No Load Class The Alternative Income Fund – Advisor Class A The Alternative Income Fund – Advisor Class C The Alternative Income Fund – Institutional Class The Multi-Disciplinary Fund – No Load Class The Multi-Disciplinary Fund – Advisor Class A The Multi-Disciplinary Fund – Advisor Class C The Multi-Disciplinary Fund – Institutional Class The Kinetics Spin-off and Corporate Restructuring Fund - – No Load Class The Kinetics Spin-off and Corporate Restructuring Fund - – Advisor Class A The Kinetics Spin-off and Corporate Restructuring Fund -Advisor – Advisor Class C The Kinetics Spin-off and Corporate Restructuring Fund - – Institutional Class The Multi-Disciplinary Income Fund – No Load Class (Continuation of Exhibit A) Fund Administration & Portfolio Compliance Services Fee Schedule Master Portfolios Annual Fee Based Upon Average Net Assets per Fund [ ] basis points on the first $1 billion [ ] basis points on the balance Feeder Portfolios Annual Fee Based Upon Average Net Assets per Fund [ ] basis points on the first $1 billion [ ] basis points on the balance Minimum Annual Fee: $[ ] Note: Minimum is based on the combined feeds for both Master Portfolios and the Feeder Funds and does not include pricing of securities. Minimum covers up to nine portfolios with classes plus up to five CFC and five C Corps. Portfolio's above nine will increase the minimum annual fee by $[ ] for each. Services Included in Annual Fee per Fund Advisor Information Source – On-line access to portfolio management and compliance information. Daily Performance Reporting – Daily pre and post-tax fund and/or sub-advisor performance reporting. Core Tax Services – See Additional Services Fee Schedule Performance Delivery $[ ]monthly at the Master level Third Party Administrative Data Charges (descriptive data for each security) $[ ] per security per month for fund administrative data SEC Modernization Requirements - Master Level Form N-PORT – $[ ] per year, per Fund Form N-CEN – $[ ] per year, per Fund SEC Modernization Requirements - Feeder Level Form N-PORT – $[ ] per year, per Fund Chief Compliance Officer Support Fee $[ ] per year per fund complex Miscellaneous Expenses All other miscellaneous fees and expenses, including but not limited to the following, will be separately billed as incurred: postage, stationery, programming, special reports, third-party data provider costs (including Bloomberg, S&P, Moody’s, Morningstar GICS, MSCI, Lipper, etc.), proxies, insurance, XXXXX/XBRL filing, record retention, federal and state regulatory filing fees, expenses related to and including travel to and from Board of directors meetings, third party auditing and legal expenses, wash sales reporting (GainsKeeper), tax e-filing charges, PFIC monitoring and conversion expenses (if necessary).Class