Amendment to Management Agreement
Amendment to Management Agreement
TO:
Nine Xxx Xxxxxx
Xxxxxx, XX 00000
Dear Ladies and Gentlemen:
You have engaged us to act as the sole investment advisor to the Paradigm Value Fund (the “Fund”), pursuant to a Management Agreement dated December 11, 2002 and amended December 16, 2005. Effective May 1, 2008, the advisor hereby contractually agrees that the first paragraph of Section 3 of the Agreement is revised to read as follows:
For all of the services to be rendered and payments to be made as provided in this Agreement, as of the last business day of each month, the Fund will pay you a fee at the annual rate as follows:
Average Daily Net Assets
Annual Management Fee
Net assets up to and including $100 million
2.00%
Any net assets over $100 million
1.75%
Very truly yours,
Paradigm Funds Advisor LLC
By:
/s/ Xxxxxxx X. XxXxxxxxxx
Print Name: Xxxxxxx X. XxXxxxxxxx
Title: Chief Operating Officer
ACCEPTANCE: THE FOREGOING AGREEMENT IS HEREBY ACCEPTED.
By:
/s/ Xxxxxx X. Xxxxxx
Print Name: Xxxxxx X. Xxxxxx
Title: Treasurer
