Potomac Insurance Trust Sample Contracts

POTOMAC INSURANCE TRUST FORM OF INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • May 9th, 2000 • Potomac Insurance Trust • Massachusetts
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ARTICLE I --------- DEFINITIONS -----------
Custody Agreement • May 9th, 2000 • Potomac Insurance Trust • Ohio
FORM OF DEALER AGREEMENT
Dealer Agreement • May 9th, 2000 • Potomac Insurance Trust • New York
FUND ACCOUNTING SERVICING AGREEMENT
Fund Accounting Servicing Agreement • April 30th, 2010 • Direxion Insurance Trust • Wisconsin

THIS AGREEMENT is made and entered into as of this 24th day of February, 2010, by and among DIREXION FUNDS, a Massachusetts business trust, DIREXION INSURANCE TRUST, a Massachusetts business trust (collectively referred to as the “Trust”), acting for and on behalf of each series as are currently authorized and issued by the Trust or may be authorized and issued by the Trust subsequent to the date of this Agreement (each a “Fund” and collectively the “Funds”) and U.S. BANCORP FUND SERVICES, LLC, a Wisconsin limited liability company (“USBFS”).

FORM OF DISTRIBUTION AGREEMENT
Distribution Agreement • May 9th, 2000 • Potomac Insurance Trust • New York
FUND ADMINISTRATION SERVICING AGREEMENT
Fund Administration Servicing Agreement • April 30th, 2010 • Direxion Insurance Trust • Wisconsin

THIS AGREEMENT is made and entered into as of this 24th day of February, 2010, by and among DIREXION FUNDS, a Massachusetts business trust, DIREXION INSURANCE TRUST, a Massachusetts business trust (collectively referred to as the “Trust”), acting for and on behalf of each series as are currently authorized and issued by the Trust or may be authorized and issued by the Trust subsequent to the date of this Agreement (each a “Fund” and collectively the “Funds”) and U.S. BANCORP FUND SERVICES, LLC, a Wisconsin limited liability company (“USBFS”).

POTOMAC FUNDS POTOMAC INSURANCE TRUST FORM OF SUBADVISORY AGREEMENT
Subadvisory Agreement • October 15th, 2004 • Potomac Insurance Trust • Massachusetts

This Subadvisory Agreement is made as of __________, 2004 (the “Effective Date”), between Rafferty Asset Management, LLC, a New York limited liability corporation (the “Adviser”), and Transamerica Investment Management, LLC, a Delaware limited liability company (the “Subadviser”).

CUSTODY AGREEMENT
Custody Agreement • October 15th, 2004 • Potomac Insurance Trust • Ohio

THIS AGREEMENT is made and entered into as of this 20th day of May, 2004, by and between Potomac Insurance Trust, a Massachusetts business trust (the “Trust”) and U.S. Bank National Association, a national banking association (the “Custodian”).

DIREXION INSURANCE TRUST INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • April 30th, 2010 • Direxion Insurance Trust • Massachusetts

This Investment Advisory Agreement between Direxion Insurance Trust (the “Trust”), a business trust organized under the laws of the Commonwealth of Massachusetts, and Rafferty Asset Management, LLC, a New York limited liability corporation (the “Adviser”), is made as of April 28, 2004, as last amended and restated on August 26, 2009.

AMENDED & RESTATED DISTRIBUTION AGREEMENT
Distribution Agreement • April 30th, 2010 • Direxion Insurance Trust • New York

THIS AGREEMENT is made as of April 28, 2004, as revised and restated on August 2009, among the Direxion Insurance Trust (the “Trust”), a Massachusetts business trust, Rafferty Asset Management, LLC (“Rafferty”), a New York limited liability corporation, and Rafferty Capital Markets, LLC (“Distributor”), a limited liability company organized and existing under the laws of the State of New York and the successor to Rafferty Capital Markets, Inc., the original distributor under this Agreement. (All future references herein to this Agreement refer to this Agreement as revised and restated on August 26, 2009.)

FUND ACCOUNTING SERVICING AGREEMENT
Fund Accounting Servicing Agreement • October 15th, 2004 • Potomac Insurance Trust • Wisconsin

THIS AGREEMENT is made and entered into as of this 20th day of May, 2004, by and between Potomac Insurance Trust, a Massachusetts business trust (the "Trust") and U.S. Bancorp Fund Services, LLC, a Wisconsin limited liability company ("USBFS").

TRANSFER AGENT SERVICING AGREEMENT
Transfer Agent Servicing Agreement • April 30th, 2010 • Direxion Insurance Trust • Wisconsin

THIS AGREEMENT is made and entered into as of this 24th day of February, 2010, by and among DIREXION FUNDS, a Massachusetts business trust, DIREXION INSURANCE TRUST, a Massachusetts business trust (collectively referred to as the “Trust”), acting for and on behalf of each series as are currently authorized and issued by the Trust or may be authorized and issued by the Trust subsequent to the date of this Agreement (each a “Fund” and collectively the “Funds”) and U.S. BANCORP FUND SERVICES, LLC, a Wisconsin limited liability company (“USBFS”).

EXHIBIT A to the SERVICES AGREEMENT
Services Agreement • August 28th, 2006 • Direxion Insurance Trust
OPERATING SERVICES AGREEMENT DIREXION INSURANCE TRUST
Operating Services Agreement • April 30th, 2010 • Direxion Insurance Trust • New York

This Agreement is made and entered into as of the first day of July 2009, by and between Direxion Insurance Trust, organized under the laws of the Commonwealth of Massachusetts (the “Trust”), on behalf of various series of the Trust (each a “Fund”, collectively, the “Funds”) listed on Schedule A hereto, as such schedule may be amended from time to time, and Rafferty Asset Management, LLC, a limited liability company (hereinafter referred to as the “Advisor”).

CUSTODY AGREEMENT
Custody Agreement • April 30th, 2010 • Direxion Insurance Trust • Ohio

THIS AGREEMENT is made and entered into as of this 17th day of March, 2010, by and among DIREXION FUNDS, a Massachusetts business trust, DIREXION INSURANCE TRUST, a Massachusetts business trust (collectively referred to as the “Trust”), acting for and on behalf of each series as are currently authorized and issued by the Trust or may be authorized and issued by the Trust subsequent to the date of this Agreement (each a “Fund” and collectively the “Funds”) and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America (the “Custodian”).

TRANSFER AGENT SERVICING AGREEMENT
Transfer Agent Servicing Agreement • October 15th, 2004 • Potomac Insurance Trust • Wisconsin

THIS AGREEMENT is made and entered into as of this 20th day of May, 2004, by and between Potomac Insurance Trust, a Massachusetts business trust (the "Trust") and U.S. Bancorp Fund Services, LLC, a Wisconsin limited liability company ("USBFS").

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FUND ADMINISTRATION SERVICING AGREEMENT
Fund Administration Servicing Agreement • October 15th, 2004 • Potomac Insurance Trust • Wisconsin

THIS AGREEMENT is made and entered into as of this 20th day of May, 2004, by and between Potomac Insurance Trust, a Massachusetts business trust (the "Trust") and U.S. Bancorp Fund Services, LLC, a Wisconsin limited liability company ("USBFS").

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