0000894189-10-004041 Sample Contracts

SUB-ADVISORY AGREEMENT
Sub-Advisory Agreement • October 28th, 2010 • New Covenant Funds • Indiana

This Sub-Advisory Agreement is made as of the 17th day of June, 2010, by and between One Compass Advisors (the “Adviser”), a separate division of New Covenant Trust Company, N.A., and Baillie Gifford Overseas Limited a company incorporated in Scotland under Registered Number 084807 and having its registered office at Calton Square, 1 Greenside Row, Edinburgh, Scotland (the “Sub-Adviser”).

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NEW COVENANT FUNDS EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • October 28th, 2010 • New Covenant Funds

THIS AGREEMENT, dated as of November 1, 2010, is made and entered into by and between the New Covenant Funds, a Delaware statutory trust (the “Trust”), on behalf of each of its investment series set forth on Schedule A attached hereto (the “Funds”), and One Compass Advisors (the “Adviser”).

NEW COVENANT FUNDS EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • October 28th, 2010 • New Covenant Funds

THIS AGREEMENT, dated as of November 1, 2010, is made and entered into by and between the New Covenant Funds, a Delaware statutory trust (the “Trust”), on behalf of each of its investment series set forth on Schedule A attached hereto (the “Funds”), and One Compass Advisors (the “Adviser”).

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