INVESTMENT ADVISORY AGREEMENTInvestment Advisory Agreement • June 28th, 2012 • TFS Capital Investment Trust • Virginia
Contract Type FiledJune 28th, 2012 Company JurisdictionTHIS AGREEMENT made as of the 15th day of December, 2011 by and between TFS Capital LLC (the “Investment Adviser”), a Virginia Limited Liability Company, and TFS Capital Investment Trust (the “Trust”), an Ohio business trust.