0000950137-09-003642 Sample Contracts

FORM OF EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • May 6th, 2009 • Driehaus Mutual Funds

EXPENSE LIMITATION AGREEMENT (the “Agreement”), effective as of , 2009 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 Active Income Fund series of the Trust (the “Fund”).

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Driehaus Capital Management LLC letterhead
Subscription Agreement • May 6th, 2009 • 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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