0000950123-10-087281 Sample Contracts

FORM OF EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • September 20th, 2010 • Driehaus Mutual Funds

EXPENSE LIMITATION AGREEMENT (the “Agreement”), effective as of September __, 2010 by and between Driehaus Capital Management LLC, a Delaware limited liability company (the “Adviser”) and Driehaus Mutual Funds (the “Trust”), on behalf of the Driehaus Select Credit Fund series of the Trust (the “Fund”).

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FORM OF LETTER AGREEMENT
Investment Advisory Agreement • September 20th, 2010 • Driehaus Mutual Funds

This Agreement is made as of this ___ day of September, 2010 between DRIEHAUS MUTUAL FUNDS, a Delaware statutory trust (the “Trust”), and DRIEHAUS CAPITAL MANAGEMENT LLC, a Delaware limited liability company (the “Adviser”).

Re: Subscription Agreement for Shares of the Driehaus Select Credit Fund (the “Fund”) of the Driehaus Mutual Funds (the “Trust”)
Subscription Agreement • September 20th, 2010 • Driehaus Mutual Funds

This share is not being purchased with a present intent of distributing or reselling the same to the public and will be held for investment purposes only.

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