INVESTMENT ADVISORY CONTRACT LETTER AGREEMENT Huntington Asset Advisors, Inc.
Exhibit
10 under Item 601/Reg. S-K
LETTER
AGREEMENT
Huntington
Asset Advisors, Inc.
00 Xxxxx
Xxxx Xxxxxx
Columbus,
OH 43287
July 29,
2009
The
Huntington Funds
00 Xxxxx
Xxxx Xxxxxx
Columbus,
OH 43287
Dear
Sirs:
Under the Investment Advisory Contract
between Huntington Asset Advisors, Inc. (the “Adviser”) and The Huntington Funds
(the “Trust”), dated June 23, 2006 (the “Advisory Contract”), the Adviser agrees
to contractually waive all or a portion of its investment advisory fee (based on
average daily net assets) which it is otherwise entitled to receive from the
Huntington VA Balanced Fund and/or to reimburse certain operating expenses of
the Huntington VA Balanced Fund in order to limit the Huntington VA Balanced
Fund’s total direct operating expenses (i.e. exclusive of indirect underlying
fund operating expenses) to not more than 0.10% of the Huntington VA Balanced
Fund’s average daily net assets, for the period starting May 1, 2009 through
April 30, 2010.
Also under the Advisory Contract, the
Adviser agrees to contractually waive all or a portion of its investment
advisory fee (based on average daily net assets) which it is otherwise entitled
to receive from the Funds listed below (the “Funds”) and/or to reimburse certain
operating expenses of the Funds in order to limit each Fund's total direct
operating expenses (i.e. exclusive of indirect underlying fund operating
expenses) to not more than 1.00% of the Fund's average daily net assets, for the
period starting May 1, 2009 through April 30, 2010.
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Xxxxxxxxxx
VA Dividend Capture Fund
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Huntington
VA Mid Corp America Fund
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Huntington
VA Growth Fund
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Huntington
VA Mortgage Securities Fund
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Huntington
VA Income Equity Fund
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Huntington
VA New Economy Fund
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Huntington
VA International Equity Fund
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Huntington
VA Real Strategies Fund
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Huntington
VA Macro 100 Fund
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Huntington
VA Rotating Markets Fund
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Huntington
VA Situs Fund
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If the foregoing correctly sets forth
the agreement between the Trust and the Adviser, please so indicate by signing
and returning to the Trust the enclosed copy hereof. This may be
executed in counterpart.
Very
truly yours,
HUNTINGTON
ASSET ADVISORS, INC.
By: /s/
X. Xxxxxxxx Xxxxxxx
Name: X.
Xxxxxxxx Xxxxxxx
Title: President
ACCEPTED:
THE
HUNTINGTON FUNDS
By: /s/
Xxxxxx X. Xxxxxx
Name: Xxxxxx
X. Xxxxxx
Title: Secretary
