EXPENSE LIMIT AGREEMENT Dated December 4, 2009 Original Expense Limit Agreement dated July 2, 2001; amended May 1, 2002; amended December 13, 2004; amended December 4, 2009, effective January 1, 2010Expense Limit Agreement • February 26th, 2010 • Pearl Mutual Funds
Pearl Mutual Funds, a Massachusetts business trust registered under the Investment Company Act of 1940 (the “1940 Act”) as an open-end diversified management investment company (the “Trust”), and Pearl Management Company, an Iowa corporation registered under the Investment Advisers Act of 1940 as an investment adviser (the “Manager”), agree that:
ADMINISTRATIVE SERVICES AGREEMENT Dated December 4, 2009 Original Expense Limit Agreement dated July 2, 2001 Amended December 4, 2009: amendment to Section 22, effective January 1, 2010Administrative Services Agreement • February 26th, 2010 • Pearl Mutual Funds • Iowa
