MANAGEMENT AGREEMENT
SCHEDULE A
SERIES OF XXXXXX BROTHERS INCOME FUNDS
Xxxxxxxxx Xxxxxx Cash Reserves
Xxxxxx Brothers High Income Bond Fund
Xxxxxx Brothers Short Duration Bond Fund
Xxxxxx Brothers Municipal Money Fund
Xxxxxx Brothers Municipal Securities Trust
Xxxxxx Brothers Strategic Income Fund
Dated: June 1, 2007
MANAGEMENT AGREEMENT
SCHEDULE B
RATE OF COMPENSATION
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FUND RATE OF COMPENSATION BASED ON
EACH FUND'S AVERAGE DAILY NET
ASSETS
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Xxxxxx Brothers Short Duration Bond Fund 0.250% of first $500 million
Xxxxxx Brothers Municipal Money Fund 0.225% of next $500 million
Xxxxxx Brothers Municipal Securities Trust 0.200% of next $500 million
0.175% of next $500 million
0.150% in excess of $2 billion
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Xxxxxx Brothers High Income Bond Fund 0.480%
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Xxxxxx Brothers Strategic Income Fund 0.600%
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Xxxxxxxxx Xxxxxx Cash Reserves 0.10%
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Dated: June 1, 2007
