0000894189-05-002473 Sample Contracts

PROFESSIONALLY MANAGED PORTFOLIOS INVESTMENT ADVISORY AGREEMENT FundX Stock Upgrader Fund
Investment Advisory Agreement • September 12th, 2005 • Professionally Managed Portfolios • California

THIS INVESTMENT ADVISORY AGREEMENT is made as of the 10th day of August, 2005, by and between Professionally Managed Portfolios, a Massachusetts business trust (hereinafter called the "Trust"), on behalf of the following series of the Trust, the FundX Stock Upgrader Fund (the "Fund") and DAL Investment Company, LLC (hereinafter called the "Advisor").

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PROFESSIONALLY MANAGED PORTFOLIOS OPERATING EXPENSES LIMITATION AGREEMENT
Operating Expenses Limitation Agreement • September 12th, 2005 • Professionally Managed Portfolios • California

THIS OPERATING EXPENSES LIMITATION AGREEMENT (the “Agreement”) is effective as of the 10th day of August , 2005, by and between Professionally Managed Portfolios, a Massachusetts business trust (the “Trust”), on behalf of the FundX Stock Upgrader Fund (the “Fund”), a series of the Trust, and the Advisor of the Fund, DAL Investment Company, LLC (the “Advisor”).

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