0000897069-04-002104 Sample Contracts

INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • December 8th, 2004 • Intrepid Capital Management Funds Trust

THIS INVESTMENT ADVISORY AGREEMENT (this “Agreement”) is made as of November 18, 2004 between Intrepid Capital Management Funds Trust, a Delaware statutory trust (the “Trust”), and Intrepid Capital Management, Inc. (the “Adviser”).

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DISTRIBUTION AGREEMENT
Distribution Agreement • December 8th, 2004 • Intrepid Capital Management Funds Trust • Wisconsin

THIS AGREEMENT is made and entered into as of this 16th day of November, 2004, by and among Intrepid Capital Management Funds Trust, a Delaware statutory trust (the “Trust”), Intrepid Capital Management, Inc., a Florida Corporation (the “Advisor”) and Quasar Distributors, LLC, a Delaware limited liability company (the “Distributor”).

TRANSFER AGENT SERVICING AGREEMENT
Transfer Agent Servicing Agreement • December 8th, 2004 • Intrepid Capital Management Funds Trust • Wisconsin

THIS AGREEMENT is made and entered into as of this 16th day of November, 2004, by and between Intrepid Capital Management Funds Trust, a Delaware statutory trust (the “Trust”) and U.S. Bancorp Fund Services, LLC, a Wisconsin limited liability company (“USBFS”).

FUND ADMINISTRATION SERVICING AGREEMENT
Fund Administration Servicing Agreement • December 8th, 2004 • Intrepid Capital Management Funds Trust • Wisconsin

THIS AGREEMENT is made and entered into as of this 16th day of November, 2004, by and between Intrepid Capital Management Funds Trust, a Delaware statutory trust (the “Trust”) and U.S. Bancorp Fund Services, LLC, a Wisconsin limited liability company (“USBFS”).

FUND ACCOUNTING SERVICING AGREEMENT
Fund Accounting Servicing Agreement • December 8th, 2004 • Intrepid Capital Management Funds Trust • Wisconsin

THIS AGREEMENT is made and entered into as of this 16th day of November, 2004, by and between Intrepid Capital Management Funds Trust, a Delaware statutory trust (the “Trust”) and U.S. Bancorp Fund Services, LLC, a Wisconsin limited liability company (“USBFS”).

CUSTODY AGREEMENT
Custody Agreement • December 8th, 2004 • Intrepid Capital Management Funds Trust • Ohio

THIS AGREEMENT is made and entered into as of this 16th day of November, 2004, by and between Intrepid Capital Management Funds Trust, a Delaware statutory trust (the “Trust”) and U.S. Bank National Association, a national banking association (the “Custodian”).

SUBSCRIPTION AGREEMENT
Subscription Agreement • December 8th, 2004 • Intrepid Capital Management Funds Trust

The undersigned hereby subscribes to Ten Thousand (10,000) units of beneficial interest (such units of beneficial interest being hereinafter referred to as “Shares”) in the Intrepid Capital Management Funds Trust, a Delaware statutory trust (the “Trust”), representing Shares in the Trust’s series, Intrepid Capital Fund (the “Fund”), in consideration for which the undersigned agrees to transfer to the Fund upon demand cash in the amount of One Hundred Thousand Dollars ($100,000).

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