0001111830-17-000112 Sample Contracts

INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • February 28th, 2017 • TFS Capital Investment Trust • Ohio

THIS AGREEMENT made as of the 30th day of June, 2016 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.

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INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • February 28th, 2017 • TFS Capital Investment Trust • Virginia

THIS AGREEMENT made as of the 30th day of June, 2016 by and between TFS Capital LLC (the “Investment Adviser”), a Virginia Limited Liability Company, and TFS Hedged Futures Strategy Offshore Fund Ltd. (the “Company”), a company organized under the laws of the Cayman Islands as an exempted company and a wholly-owned subsidiary of TFS Hedged Futures Fund (the “Fund”), a series of TFS Capital Investment Trust (the “Trust”).

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