0000889188-15-000010 Sample Contracts

FORWARD FUNDS INVESTMENT SUB-ADVISORY AGREEMENT
Investment Sub-Advisory Agreement • August 27th, 2015 • Forward Funds • California

This INVESTMENT SUB-ADVISORY AGREEMENT (“Agreement”) effective as of June 9, 2015, is by and among Pictet Asset Management Ltd (the “Sub-Advisor”), Forward Funds (the “Trust”), on behalf of the Forward International Small Companies Fund, a series of the Trust (the “Fund”), and Forward Management, LLC (the “Advisor”).

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FORWARD FUNDS INVESTMENT MANAGEMENT AGREEMENT
Investment Management Agreement • August 27th, 2015 • Forward Funds • California

AGREEMENT, effective as of June 9, 2015, between Forward Management, LLC (“Forward Management” or the “Investment Advisor”) and Forward Funds (the “Trust”) on behalf of the series of the Trust listed on Exhibit A (the “Funds”).

AMENDED AND RESTATED AGREEMENT AND DECLARATION OF TRUST
Trust Agreement • August 27th, 2015 • Forward Funds • Delaware

This Amended and Restated Agreement and Declaration of Trust of the Forward Funds (the “Trust”), dated as of June 9, 2005 and amended and restated as of March 18, 2015, is made among the individuals listed on the signatory page attached hereto (hereinafter referred to as Trustees) and each person who becomes a Shareholder in accordance with the terms hereinafter set forth.

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