THE DUNHAM FUNDS SUB-ADVISORY AGREEMENTSub-Advisory Agreement • June 15th, 2012 • Dunham Funds • California
Contract Type FiledJune 15th, 2012 Company JurisdictionThis AGREEMENT is dated March 13, 2012 and effective on or about May 1, 2012, among DUNHAM & ASSOCIATES INVESTMENT COUNSEL, INC., a California corporation (the “Adviser”), DUNHAM FUNDS, a Delaware statutory trust (the “Trust) and CORNERSTONE REAL ESTATE ADVISERS LLC, a Delaware limited liability corporation (the “Sub-Adviser”) (each a “Party,” and together, the “Parties”).