FORM OF OPERATING SERVICES AGREEMENT DIREXION FUNDSOperating Services Agreement Direxion Funds • July 2nd, 2009 • Direxion Funds • New York
This Agreement is made and entered into as of the first day of July 2009, by and between Direxion Funds, organized under the laws of the Commonwealth of Massachusetts (the “Trust”), on behalf of various series of the Trust (each a “Fund”, collectively, the “Funds”) listed on Schedule A hereto, as such schedule may be amended from time to time, and Rafferty Asset Management, LLC, a limited liability company (hereinafter referred to as the “Advisor”). WHEREAS, the Trust is an open-end management investment company, registered under the Investment Company Act of 1940, as amended (the “Act”); and WHEREAS, Advisor provides investment advice pursuant to a separate agreement with the Trust (“Advisory Services”) and is registered with the Securities and Exchange Commission as an investment advisor under the Investment Advisers Act of 1940, as amended; and WHEREAS, the Trust wishes to engage Advisor, to provide, or arrange for the provision of, certain operational services which are ne
