PEAR TREE FUNDS AMENDED AND RESTATED TRANSFER AGENT FEE WAIVER AGREEMENT

Exhibit 99.28(h)(1)m

PEAR TREE FUNDS

AMENDED AND RESTATED TRANSFER AGENT FEE WAIVER AGREEMENT

Pear Tree Advisors, Inc. (the “Transfer Agent”) serves as the transfer agent for each of the separate series of Pear Tree Funds (the “Trust”) included on Appendix A hereto (each, a “Fund”) pursuant to the Amended and Restated Transfer Agent and Service Agreement dated May 1, 2008, as amended (the “Transfer Agreement”), between the Transfer Agent and the Trust.

With respect to each Fund other than Pear Tree Polaris International Opportunities Fund (the “International Opportunities Fund”), the Transfer Agent hereby agrees for the period August 1, 2023 through July 31, 2024, and with respect to the International Opportunities Fund, the Transfer Agent hereby agrees for the period August 1, 2023 through September 30, 2024 (as applied to each Fund, the “Waiver Period”) to waive such portion of the fees that the Transfer Agent would otherwise receive under the Transfer Agreement for serving as transfer agent to the Fund such that the aggregate transfer agent fee with respect to Institutional Shares of the Fund that the Transfer Agent would receive during the Waiver Period would be calculated using an annual rate of 0.04 percent of the Fund’s net asset value attributable to Institutional Shares. The aggregate transfer agent annual fee rates with respect to Ordinary Shares and R6 Shares, if any, of the Funds remain unchanged.

This Amended and Restated Transfer Agent Fee Waiver Agreement only may be rescinded, amended or modified, and the Waiver Period terminated, in whole or in part, without further obligation by the Transfer Agent at such time and on such terms as may be determined by the Trustees, including a majority of those Trustees who are not “interested persons” of the Trust, as such term is defined in Section 2(a)(19) of the Investment Company Act of 1940, as amended. This Amended and Restated Transfer Agent Fee Waiver Agreement replaces in all respects the Transfer Agent Fee Waiver Agreement currently in effect as of the date hereof.

PEAR TREE ADVISORS, INC.
By:	/s/ Xxxxxxx X. Xxxxxxx
	Xxxxxxx X. Xxxxxxx, President
Date: September 1, 2023 Agreed and Accepted:
PEAR TREE FUNDS
By:	/s/ Xxxxxxx X. Xxxxxxx
	Xxxxxxx X. Xxxxxxx, President
Date: September 1, 2023

Appendix A

List of Pear Tree Funds Subject to this Agreement

Pear Tree Polaris Small Cap Fund

Pear Tree Quality Fund

Pear Tree Axiom Emerging Markets World Equity Fund

Pear Tree Essex Environmental Opportunities Fund

Pear Tree Polaris International Opportunities Fund

Pear Tree Polaris Foreign Value Fund

Pear Tree Polaris Foreign Value Small Cap Fund