0000891804-11-001753 Sample Contracts

INVESTMENT MANAGEMENT AGREEMENT
Investment Management Agreement • April 28th, 2011 • Security Equity Fund

This Agreement, made and entered into this 1st day of August, 2010 by and between SECURITY EQUITY FUND, a Kansas corporation (hereinafter referred to as the “Fund”), and SECURITY INVESTORS, LLC, a Kansas limited liability company (hereinafter referred to as the “Adviser”) is amended and restated effective as of April 29, 2011.

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EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • April 28th, 2011 • Security Equity Fund

THIS AGREEMENT, dated as of April 1, 2008, amended and restated effective as of February 23, 2011, is made and entered into by and between Security Investors, LLC (the “Adviser”) and each of the registered investment companies set forth on Schedule A (each such company being referred to herein as a “Company”). This Agreement shall apply to each investment portfolio of a Company as set forth in Schedule A (each a “Fund” and collectively the “Funds”).

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