0000894189-16-007226 Sample Contracts

CUSTODY AGREEMENT
Custody Agreement • January 28th, 2016 • Horizon Funds • Minnesota

THIS AGREEMENT is effective and entered into as of February 8, 2016, by and between HORIZON FUNDS, a Delaware trust (the “Trust”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America (the “Custodian”).

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INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • January 28th, 2016 • Horizon Funds • Delaware

This Agreement is made and entered into effective as of January 29, 2016, by and between Horizon Funds, a Delaware statutory trust (the “Trust”), on behalf of Horizon Active Income Fund, a series of shares of the Trust (the “Fund”), and Horizon Investments, LLC, a South Carolina limited liability company (the “Adviser”).

TRANSFER AGENT SERVICING AGREEMENT
Transfer Agent Servicing Agreement • January 28th, 2016 • Horizon Funds • Wisconsin

THIS AGREEMENT is effective and entered into as of February 8, 2016, by and between HORIZON FUNDS, a Delaware trust (the “Trust”), and U.S. BANCORP FUND SERVICES, LLC, a Wisconsin limited liability company (“USBFS”).

HORIZON FUNDS EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • January 28th, 2016 • Horizon Funds

This Agreement is into effective as of _______, 2015 by and between Horizon Funds, a Delaware statutory trust (the “Trust”), on behalf of Horizon Active Risk Assist Fund, a series of shares of the Trust (the “Fund”), and Horizon Investments, LLC, a South Carolina limited liability company (the “Adviser”).

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