AMENDMENT TO THE DISTRIBUTION AGREEMENT

(e)(3)

AMENDMENT TO THE
DISTRIBUTION AGREEMENT

     THIS AMENDMENT, dated as of the 27^th day of October, 2008, to the Distribution Agreement dated as of November 17, 2006, as amended (the “Agreement”), is entered into by and between Quaker Investment Trust, a Massachusetts trust (the “Trust”) and Quasar Distributors, LLC, a Delaware limited liability company (the “Distributor”).

     WHEREAS, the parties to the Agreement desire to amend the Agreement in the manner set forth herein;

     NOW THEREFORE, pursuant to section 11 of the Agreement, the parties hereby amend the fund names of the Agreement as follows:

Exhibit A (“Exhibit A”) is hereby superseded and replaced with Exhibit A attached hereto.

     The Agreement, as amended, shall remain in full force and effect.

     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by a duly authorized officer on one or more counterparts as of the date first above written.

QUAKER INVESTMENT TRUST						QUASAR DISTRIBUTORS, LLC
By:		/s/ Xxxxxx X. Xxxx				By:		/s/ Xxxxx X. Xxxxxxxxx
		Xxxxxx X. Xxxx, Xx.						Xxxxx X. Xxxxxxxxx
Title:		Chief Executive Officer				Title:		President

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(e)(3)

Exhibit A to the Distribution Agreement
Quaker Investment Trust

Separate Series of Quaker Investment Trust

Name of Series		Date Added
Quaker Strategic Growth Fund		November, 2006
Quaker Capital Opportunities Fund		November, 2006
Quaker Biotech Pharma-Healthcare Fund		November, 2006
Quaker Mid-Cap Value Fund		November, 2006
Quaker Small-Cap Value Fund		November, 2006
Quaker Global Tactical Allocation Fund		May, 2008
Quaker Small-Cap Growth Tactical Allocation Fund		August, 2008

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