FEE WAIVER AGREEMENT Forum Funds Three Canal Plaza Portland, ME 04101

FEE WAIVER AGREEMENT

Forum Funds 

Three Xxxxx Xxxxx 

Xxxxxxxx, XX 00000

October 10, 2022

Atlantic Fund Administration, LLC 

Three Xxxxx Xxxxx 

Xxxxxxxx, XX 00000

Ladies and Gentlemen:

This Fee Waiver Agreement (this “Agreement”) is entered into as of the date first set forth above between Forum Funds (the “Trust”), on behalf of its series set forth in Exhibit A hereto (each, a “Fund” and together, the “Funds”), and Atlantic Fund Administration, LLC, a wholly owned subsidiary of Apex Group Ltd. doing business as Apex Fund Services (“Apex”), on the following terms:

1. The Trust is an open-end management investment company that has multiple separate investment portfolios, including the Funds.

2. Pursuant to a Services Agreement between the Trust and Apex dated April 20, 2007, as amended or supplemented from time to time (the “Administration Agreement”), the Trust has retained Apex to provide the Trust, the Funds, and the Funds’ shareholders with administration, transfer agency, and other services.

3. During the term of this Agreement, for each Fund listed in Exhibit A hereto, Apex shall waive certain fees payable under the Administration Agreement, as set forth in Exhibit A, as amended from time to time by the Board of Trustees of the Trust.

4. This Agreement shall be effective for each Fund for the period specified on Exhibit A. This Agreement may only be amended or terminated with the approval of the Board of Trustees of the Trust.

5. This Agreement constitutes the whole agreement between the parties and supersedes any previous service fee waiver agreement relating to the Funds.

[Remainder of Page Left Intentionally Blank]

If you are in agreement with the foregoing, please sign the form of acceptance on the enclosed counterpart hereof and return the same to us.

	Very truly yours,
	ATLANTIC FUND ADMINISTRATION, LLC
	By:	/s/ Xxxxxxx Xxxxx
		Xxxxxxx Xxxxx
	Title:	Chief Executive Officer

The foregoing Agreement is hereby accepted as of October 10, 2022.

FORUM FUNDS
By:	/s/ Xxxxxxx Xxxxx
Name:	Xxxxxxx Xxxxx
Title:	President, Principal Executive Officer

[Signature page to the Fee Waiver Agreement]

EXHIBIT A 

To the Fee Waiver Agreement

Last Approved: June 10, 2022

Fund	Expense Category	Start Date	End Date	Waiver
Xxxxxx Focus Fund	Administration	1/1/2012	N/A	[Redacted]
Xxxxxx Focus Fund	Fund Accounting	6/1/2022	6/30/2023	[Redacted]
XX Xxxx Premier Growth Fund; XX Xxxx Midcap Growth Fund; XX Xxxx Small Cap Growth Fund	Administration	7/1/2022	6/30/2023	[Redacted]
XX Xxxx Premier Growth Fund; XX Xxxx Xxxxxx Growth Fund; XX Xxxx Small Cap Growth Fund	Fund Accounting	7/1/2022	6/30/2023	[Redacted]
Xxxxxxx Small Cap Growth Fund	Transfer Agency	1/1/2022	12/31/2022	[Redacted]
Xxxxxxx Small Cap Growth Fund	Recoupment	1/1/2022	12/31/2022	[Redacted]
Merk Hard Currency Fund	Administration	7/1/2022	6/30/2023	[Redacted]
Merk Hard Currency Fund	Fund Accounting	7/1/2022	6/30/2023	[Redacted]
Monongahela All Cap Value Fund	Administration	5/15/13	N/A	[Redacted]
Monongahela All Cap Value Fund	Fund Accounting	5/15/13	N/A	[Redacted]
Monongahela All Cap Value Fund	Compliance	5/15/13	N/A	[Redacted]
Monongahela All Cap Value Fund	Compliance	5/15/13	N/A	[Redacted]
Polaris Global Value Fund	Administration	1/1/2022	12/31/2022	[Redacted]