0000922907-08-000339 Sample Contracts

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INVESTMENT SUBADVISORY AGREEMENT
Investment Subadvisory Agreement • May 1st, 2008 • Macc Private Equities Inc • Delaware

This INVESTMENT SUBADVISORY AGREEMENT (this "Agreement") is made and entered into by and among MACC PRIVATE EQUITIES INC., a Delaware corporation ("MACC"), EUDAIMONIA ASSET MANAGEMENT, LLC, a California limited liability company ("Eudaimonia") and INVESTAMERICA INVESTMENT ADVISORS, INC., a Delaware corporation ("InvestAmerica"), dated as of the 29th day of April, 2008.

RECITALS
Macc Private Equities Inc • May 1st, 2008 • Iowa
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