0000950137-05-009294 Sample Contracts

PROFESSIONALLY MANAGED PORTFOLIOS INTERIM INVESTMENT ADVISORY AGREEMENT Nicholas-Applegate International All-Cap Growth Fund
Investment Advisory Agreement • July 29th, 2005 • Professionally Managed Portfolios • California

THIS INVESTMENT ADVISORY AGREEMENT is made as of the 1st day of July, 2005, by and between Professionally Managed Portfolios, a Massachusetts business trust (hereinafter called the “Trust”), on behalf of the following series of the Trust, Nicholas-Applegate International All-Cap Growth Fund (the “Fund”) and Nicholas-Applegate Capital Management, LLC (hereinafter called the “Advisor”).

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PROFESSIONALLY MANAGED PORTFOLIOS INTERIM OPERATING EXPENSES LIMITATION AGREEMENT
Interim Operating Expenses Limitation Agreement • July 29th, 2005 • Professionally Managed Portfolios • California

THIS OPERATING EXPENSES LIMITATION AGREEMENT (the “Agreement”) is effective as of the 1st day of July, 2005, by and between Professionally Managed Portfolios, a Massachusetts business trust (the “Trust”), on behalf of the Nicholas-Applegate International All-Cap Growth Fund (the “Fund”), a series of the Trust, and the Advisor of the Fund, Nicholas Applegate Capital Management, LLC (the “Advisor”).

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