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Exhibit - 10 ii Reimbursement Agreements The O'Higgins Fund reimburses officers and directors not affiliated with the Investment Adviser to compensate for travel expenses associated with performance of their duties. A total of $3,168 was paid in this...
Ohiggins Fund • May 25th, 1999

The O'Higgins Fund reimburses officers and directors not affiliated with the Investment Adviser to compensate for travel expenses associated with performance of their duties. A total of $3,168 was paid in this regard in 1998. The Valley Forge Management Corp. reimbursed the Fund for this entire amount as the expense was incurred. As the Fund grows in total assets, the Board of Directors may place them on salaries commensurate with their duties.

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