0000910472-13-002785 Sample Contracts

THE DUNHAM FUNDS SUB-ADVISORY AGREEMENT
Sub-Advisory Agreement • July 17th, 2013 • Dunham Funds • California

This AGREEMENT is dated June 11, 2013, and effective on or about July 1, 2013, among DUNHAM & ASSOCIATES INVESTMENT COUNSEL, INC., a California corporation (the “Adviser”), DUNHAM FUNDS, a Delaware statutory trust (the “Trust”) and BAILARD, INC., a California corporation (the “Sub-Adviser”) (each a “Party,” and together, the “Parties”).

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