KINETICS PORTFOLIOS TRUST INVESTMENT ADVISORY AGREEMENTInvestment Advisory Agreement • May 1st, 2006 • Kinetics Portfolios Trust • New York
THIS INVESTMENT ADVISORY AGREEMENT is made as of the 1st day of January, 2006, by and between KINETICS PORTFOLIOS TRUST, a Delaware business trust (the "Trust") on behalf of its series the Market Opportunities Portfolio (the "Portfolio") and KINETICS ASSET MANAGEMENT, INC., a New York corporation (the "Adviser").
