Highland High Income Fund: Exhibit 77Q1 INVESTMENT ADVISORY AGREEMENT AGREEMENT made as of March 1, 2007, by and between Highland Capital Management, L.P., a Delaware limited partnership (the "Adviser"), and Highland Funds I, a Delaware statutory...Investment Advisory Agreement • October 29th, 2007 • Highland Funds I • Delaware
INVESTMENT ADVISORY AGREEMENT AGREEMENT made as of March 1, 2007, by and between Highland Capital Management, L.P., a Delaware limited partnership (the "Adviser"), and Highland Funds I, a Delaware statutory trust (the "Trust"), on behalf of its series, Highland High Income Fund (the " Fund "). WHEREAS, the Trust is engaged in business as open-end management investment company and is registered as such under the Investment Company Act of 1940, as amended (the "1940 Act"); and WHEREAS, the Adviser is engaged principally in the business of rendering investment management services and is registered as an investment adviser under the Investment Advisers Act of 1940, as amended; NOW, THEREFORE, WITNESSETH: That it is hereby agreed between the parties hereto as follows: SECTION 1. Appointment of Adviser. The Fund hereby appoints the Adviser to act as manager and investment adviser to the Fund for the period and on the terms herein set forth. The Adviser accepts such appointment and agrees to
