0000894189-12-002330 Sample Contracts

EXHIBIT I to the Investment Advisory Agreement BAIRD SMALLCAP VALUE FUND
Baird Funds Inc • April 27th, 2012

For all services rendered by the Advisor hereunder, the Corporation shall pay the Advisor, on behalf of the above-named Fund, and the Advisor agrees to accept as full compensation for all services rendered hereunder, an annual investment advisory fee equal to 0.85% of the average daily net assets of the Fund.

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EXPENSE CAP/REIMBURSEMENT AGREEMENT
Expense Cap/Reimbursement Agreement • April 27th, 2012 • Baird Funds Inc

This Agreement is entered into as of the 1st day of February, 2012 between Robert W. Baird & Co. Incorporated (the “Advisor”) and Baird Funds, Inc. (the “Corporation”), on behalf of the Baird LargeCap Fund (the “LargeCap Fund”), the Baird MidCap Fund (the “MidCap Fund”), and the Baird SmallCap Value Fund (the “SmallCap Value Fund”); the LargeCap Fund and MidCap Fund are hereinafter referred to collectively as the “Funds” and individually as a “Fund”).

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