0000910472-08-000450 Sample Contracts

THE DUNHAM FUNDS SUB-ADVISORY AGREEMENT

Sub-Advisory Agreement • July 25th, 2008 • Dunham Funds • California

• Contract Type
  Sub-Advisory Agreement
• Filed
  July 25th, 2008
• Company
  Dunham Funds
• Jurisdiction
  California

AGREEMENT dated May 8, 2008, and effective May 14, 2008, among DUNHAM & ASSOCIATES INVESTMENT COUNSEL, INC., a California corporation (the “Adviser”), DUNHAM FUNDS, a Delaware statutory trust (the “Trust”) and WESTCHESTER CAPITAL MANAGEMENT, INC., a New York corporation (the “Sub-Adviser”) (each a “Party,” and together, the “Parties”).