Letter Agreement
| Letter Agreement |
| TO: | Paradigm Funds |
| Nine Elk Street | |
| Albany, NY 12207 |
Dear Trustees:
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, 2016, the advisor hereby contractually agrees to reduce management fees and reimburse expenses to the extent necessary to maintain total annual operating expenses (excluding brokerage fees and commissions, interest and other borrowing expenses, taxes, extraordinary expenses and indirect costs of investing in Acquired Funds) at 1.50% of the Value Fund’s average daily net assets through April 30, 2017.
| Very truly yours, Paradigm Funds Advisor LLC By: /s/ Xxxxxx Xxxxxx Print Name: Xxxxxx Xxxxxx Title: Chief Financial Officer |
Acceptance: The foregoing agreement is hereby accepted.
| Paradigm Funds By: /s/ Xxxx Xxxxxx Print Name: Xxxx Xxxxxx Title: Trustee |
| Letter Agreement |
| TO: | Paradigm Funds |
| Nine Elk Street | |
| Albany, NY 12207 |
Dear Trustees:
You have engaged us to act as the sole investment advisor to the Paradigm Opportunity Fund (the “Fund”), pursuant to a Management Agreement dated December 29, 2004 and amended December 16, 2005. Effective May 1, 2016, the advisor hereby contractually agrees to reduce management fees and reimburse expenses to the extent necessary to maintain total annual operating expenses (excluding brokerage fees and commissions, interest and other borrowing expenses, taxes, extraordinary expenses and indirect costs of investing in Acquired Funds) at 1.25% of the Opportunity Fund’s average daily net assets through April 30, 2017.
| Very truly yours, Paradigm Funds Advisor LLC By: /s/ Xxxxxx Xxxxxx Print Name: Xxxxxx Xxxxxx Title: Chief Financial Officer |
Acceptance: The foregoing agreement is hereby accepted.
| Paradigm Funds By: /s/ Xxxx Xxxxxx Print Name: Xxxx Xxxxxx Title: Trustee |
| Letter Agreement |
| TO: | Paradigm Funds |
| Nine Elk Street | |
| Albany, NY 12207 |
Dear Trustees:
You have engaged us to act as the sole investment advisor to the Paradigm Select Fund (the “Fund”), pursuant to a Management Agreement dated December 29, 2004 and amended December 16, 2005. Effective May 01, 2016, the advisor hereby contractually agrees to reduce management fees and reimburse expenses to the extent necessary to maintain total annual operating expenses (excluding brokerage fees and commissions, interest and other borrowing expenses, taxes, extraordinary expenses and indirect costs of investing in Acquired Funds) at 1.15% of the Select Fund’s average daily net assets through April 30, 2017.
| Very truly yours, Paradigm Funds Advisor LLC By: /s/ Xxxxxx Xxxxxx Print Name: Xxxxxx Xxxxxx Title: Chief Financial Officer |
Acceptance: The foregoing agreement is hereby accepted.
| Paradigm Funds By: /s/ Xxxx Xxxxxx Print Name: Xxxx Xxxxxx Title: Trustee |
