December 15, 2015 Aberdeen Asset Management Inc.

XX-00.x.0

Xxxxxxxx 00, 0000

Xxxxxxxx Asset Management Inc.

0000 Xxxxxx Xxxxxx, 00xx Xxxxx

Xxxxxxxxxxxx, XX 00000

Re:  Aberdeen Equity Long-Short Fund

This letter agreement (“Agreement”) is entered into by and between Aberdeen Funds, on behalf of the Aberdeen Equity Long-Short Fund (the “Fund”), and Aberdeen Asset Management Inc. (“Aberdeen”), on behalf of itself as the investment adviser of the Fund.

Effective as of February 29, 2016, or the effective date of the 2016 annual update to the Fund’s registration statement, whichever occurs first, and through February 28, 2017 Aberdeen agrees to reimburse the Fund for short-sale brokerage expenses at an annual rate of up to 0.15% of the Fund’s average daily net assets.  Amounts reimbursed by Aberdeen are not subject to recoupment at a later date.

			Sincerely,
			ABERDEEN ASSET MANAGEMENT INC.
			By:
			Name:	Xxxx Xxxxxxx
			Title:	Vice President
Agreed and Accepted:
ABERDEEN FUNDS, ON BEHALF OF
ABERDEEN EQUITY LONG-SHORT FUND
By:
Name:	Xxxxx Xxxxx
Title:	Vice President