0000894189-15-002205 Sample Contracts

FIFTH AMENDMENT TO LOAN AGREEMENT
Loan Agreement • April 30th, 2015 • Baird Funds Inc

THIS FIFTH AMENDMENT TO LOAN AGREEMENT is made and entered into effective as of this 26th day of September, 2014 by and between U.S. BANK NATIONAL ASSOCIATION, with its address at 425 Walnut Street, Cincinnati, Ohio 45202 (the "Bank"), and BAIRD FUNDS, INC. (the “Corporation”), a Wisconsin corporation, not individually but solely on behalf of its respective Funds as set forth on Exhibit A to the Loan Agreement, separately and not jointly (each such Fund a “Borrower” and collectively the “Borrowers”), and with its address at 777 East Wisconsin Avenue, 18th Floor, Milwaukee, Wisconsin 53202.

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FOURTH AMENDMENT TO LOAN AGREEMENT
Loan Agreement • April 30th, 2015 • Baird Funds Inc

THIS FOURTH AMENDMENT TO LOAN AGREEMENT is made and entered into effective as of this 31st day of May, 2014 by and between U.S. BANK NATIONAL ASSOCIATION, with its address at 425 Walnut Street, Cincinnati, Ohio 45202 (the "Bank"), and BAIRD FUNDS, INC. (the “Corporation”), a Wisconsin corporation, not individually but solely on behalf of its respective Funds as set forth on Exhibit A to the Loan Agreement, separately and not jointly (each such Fund a “Borrower” and collectively the “Borrowers”), and with its address at 777 East Wisconsin Avenue, 18th Floor, Milwaukee, Wisconsin 53202.

EXPENSE CAP/REIMBURSEMENT AGREEMENT
Expense Cap/Reimbursement Agreement • April 30th, 2015 • Baird Funds Inc

This Agreement is entered into as of the 2nd day of February, 2015 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, MidCap Fund and SmallCap Value Fund are hereinafter referred to collectively as the “Funds” and individually as a “Fund”).

FEE WAIVER AGREEMENT
Fee Waiver Agreement • April 30th, 2015 • Baird Funds Inc

This Agreement is entered into as of the 2nd day of February, 2015 between Robert W. Baird & Co. Incorporated (the “Advisor”) and Baird Funds, Inc. (the “Corporation”), on behalf of the Baird Ultra Short Bond Fund (the “Fund”).

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