EXPENSE LIMITATION AGREEMENTExpense Limitation Agreement • April 30th, 2010 • M Fund Inc • Maryland
This Expense Limitation Agreement is made as of the 1st, day of May, 2010 by and between M Fund, Inc., a Maryland corporation (the “Fund”) on behalf of its series Brandes International Equity Fund, M Large Cap Growth Fund, Frontier Capital Appreciation Fund, and Business Opportunity Value Fund (each, a “Portfolio”), and M Financial Investment Advisers, Inc., a Colorado corporation (the “Adviser”), with respect to the following:
