AMENDMENT TO NETWORKING FEE AGREEMENT

AMENDMENT

TO

NETWORKING FEE AGREEMENT

THIS AMENDMENT (“Amendment”) is entered into by and between Tributary Funds, Inc. (“Fund Company”), Xxxxxxx Xxxxx & Associates, Inc. and Xxxxxxx Xxxxx Financial Services, Inc. (collectively referred to as “Xxxxxxx Xxxxx”), and is made and entered into this 1^st day of January, 2018.

WHEREAS, Xxxxxxx Xxxxx and Fund Company have entered into Networking Fee Agreement, as may have been amended (the “Agreement”).

WHEREAS, as a condition of Fund Company and Xxxxxxx Xxxxx’x continued performance under the Agreement, Xxxxxxx Xxxxx and Fund Company desire to amend the Agreement in accordance with this Amendment.

NOW, THEREFORE, in consideration of the promises and mutual covenants contained herein, the parties, intending to be legally bound, hereby agree as follows:

1. Section 1b. of the Agreement is hereby deleted in its entirety and replaced with the following:

Fund Company hereby agrees to pay Xxxxxxx Xxxxx at least 0.09% (9 basis points) annually, invoiced and paid quarterly at 0.0225% (2.25 basis points), of the average daily assets in client accounts invested in Shares (“Client Account”). Such payment shall be calculated at the end of each fiscal quarter (quarters to end December, March, June, and September). For purposes of this payment, Client Accounts shall not include: (i) accounts subject to the Employee Retirement Income Security Act; (ii) non-taxable fee-based individual retirement accounts for which Xxxxxxx Xxxxx & Associates, Inc., its affiliates, or their investment advisor representatives provide advisory or subadvisory services; or (iii) other non-taxable fee-based advisory retirement accounts, as designated by Xxxxxxx Xxxxx from time to time. The parties will use reasonable efforts to categorize the Fund Shares that may fall into one of the above categories.

2. For the avoidance of doubt, the terms and conditions contained in this Amendment supersede those terms and conditions in the Agreement, including any exhibits thereto, that conflict with the terms and conditions in this Amendment. Otherwise, the terms and conditions of the Agreement remain in full force and effect.

3. Capitalized terms used but not defined herein shall have the meaning ascribed to them in the Agreement.

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IN WITNESS WHEREOF, the parties have executed this Amendment as of the date written above.

Tributary Funds, Inc.			Xxxxxxx Xxxxx & Associates, Inc.
By:	/s/ Xxxxxxx Xxxx		By:	/s/ Xxx Xxxxxx
Name:	Xxxxx Xxxx		Name:	Xxx Xxxxxx
Title:	President		Title:	Chief Operating Officer
			Xxxxxxx Xxxxx Financial Services, Inc.
			By:	/s/ Xxxxx Zebra
			Name:	Xxxxx Zebra
			Title:	VP, Ops & Admin

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