0000894189-10-001756 Sample Contracts

MASTERS’ SELECT EQUITY FUND MASTERS’ SELECT FUNDS TRUST INVESTMENT SUB-ADVISORY AGREEMENT

Investment Sub-Advisory Agreement • April 30th, 2010 • Masters Select Funds Trust • California

• Contract Type
  Investment Sub-Advisory Agreement
• Filed
  April 30th, 2010
• Company
  Masters Select Funds Trust
• Jurisdiction
  California

THIS INVESTMENT SUB-ADVISORY AGREEMENT is made as of the 1st day of October 2008 by and between LITMAN/GREGORY FUND ADVISORS, LLC (the “Advisor”) and HARRIS ASSOCIATES L.P. (the “Sub-Advisor”).

AMENDMENT NO. 1 TO INVESTMENT SUB-ADVISORY AGREEMENT

Investment Sub-Advisory Agreement • April 30th, 2010 • Masters Select Funds Trust

• Contract Type
  Investment Sub-Advisory Agreement
• Filed
  April 30th, 2010
• Company
  Masters Select Funds Trust

WHEREAS, the undersigned parties have entered into an investment sub-advisory agreement dated December 30, 1996 (the “AGREEMENT”) and