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 Geewax, Terker & Co., a Pennsylvania
partnership (the “Subadviser”).
RECITALS
WHEREAS, the Subadviser has agreed to add a breakpoint in its subadvisory fee with respect to
the investment subadvisory services it provides to the Quaker Core Value Fund; and
WHEREAS, in connection with the addition of such breakpoint, 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:
With respect to the Quaker Core Equity and Quaker Small Cap Growth Funds, 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 the annual rate of 0.75% of the average daily
net assets of each respective Fund. With respect to the Quaker Core Value Fund, 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 the Fund’s
average daily net assets as follows: 0.75% on assets up to $20 million and 0.50% on assets
over $20 million.
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 | |||
| Title: Chief Operating Officer | ||||
| GEEWAX, TERKER & CO. | ||||
By:
|
/s/ Xxxx X. Xxxxxx | |||
| Title: Partner | ||||
