AMENDMENT TO QUAKER INVESTMENT TRUST INVESTMENT SUBADVISORY AGREEMENT
THIS AMENDMENT, dated as of July 1, 2007, to the Investment Subadvisory Agreement made and
entered into as of the 3rd day of May, 2005 (the “Agreement”) by and between Quaker
Funds, Inc., a Delaware corporation (the “Adviser”), and Xxxxx Capital Management, a Pennsylvania
corporation (the “Subadviser”).
RECITALS
WHEREAS, the Subadviser has agreed to permanently reduce its subadvisory fee with respect to
the investment subadvisory services it provides to the Quaker Capital Opportunities Fund; and
WHEREAS, in connection with such fee reduction, the Adviser and Subadviser wish to amend
Paragraph 7 of the Agreement;
NOW, THEREFORE, in consideration of the foregoing premises, the parties hereto agree as
follows:
1. Paragraph 7 of the Agreement is hereby amended by deleting the first sentence of the
paragraph, and replacing it with the following:
Adviser will pay to Subadviser, and Subadviser will accept as full compensation for its
services rendered hereunder, an investment advisory fee, computed at the end of each month
and payable within five (5) business days thereafter, equal to an annual rate of 0.625% of
the average daily net assets of the Fund.
2. Except as set forth above, all provisions of the Agreement shall remain the same.
IN WITNESS WHEREOF, this Amendment has been executed on behalf of each party as of the date
set forth above.
| QUAKER FUNDS, INC. | ||||
By:
|
/s/ Xxxxxx Xxxxxxxx | |||
| Name: Xxxxxx Xxxxxxxx | ||||
| Title: Chief Operating Officer | ||||
| Xxxxx Capital Management | ||||
By:
|
/s/ June X. Xxxxxxx | |||
| Name: June X. Xxxxxxx | ||||
| Title: Director of Operations/CCO | ||||
