0000315774-11-000203 Sample Contracts

FORUM FUNDS INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • July 29th, 2011 • Forum Funds • New York

AGREEMENT made as of May 9, 2005, as amended and restated June 24, 2011, by and between Forum Funds, a Delaware statutory trust, with its principal office and place of business at Three Canal Plaza, Portland, Maine 04101 (the “Trust”), and Merk Investments, LLC, with its principal office and place of business at 555 Bryant Avenue #455, Palo Alto, California 94301 (the “Adviser”).

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