0001045487-16-000023 Sample Contracts

FIRST AMENDED AND RESTATED MANAGEMENT AGREEMENT
Management Agreement • February 29th, 2016 • James Advantage Funds • Ohio

This Amended and Restated Management Agreement (this “Agreement”), dated as of May 27, 2015, is by and between the James Advantage Funds (the “Trust”), on behalf of the James Long-Short Fund (the “Fund”) and James Investment Research, Inc. (the “Adviser”) (each a “Party” and collectively, the “Parties”).

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FIRST AMENDED AND RESTATED MANAGEMENT AGREEMENT
Management Agreement • February 29th, 2016 • James Advantage Funds • Ohio

This Amended and Restated Management Agreement (this “Agreement”), dated as of May 27, 2015, is by and between the James Advantage Funds (the “Trust”), on behalf of the James Small Cap Fund (the “Fund”) and James Investment Research, Inc. (the “Adviser”) (each a “Party” and collectively, the “Parties”).

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