0001162044-11-000921 Sample Contracts

MANAGEMENT AGREEMENT
Management Agreement • September 28th, 2011 • Ranger Funds Investment Trust • Delaware

The Trust has been organized to engage in the business of an open-end management investment company. The Trust currently offers several series of shares to investors.

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TRANSFER AGENT AGREEMENT
Transfer Agent Agreement • September 28th, 2011 • Ranger Funds Investment Trust • Ohio

THIS AGREEMENT is made and entered into this 14th day of September, 2011, by and between the Ranger Funds Investment Trust (the “Trust”), a Delaware business trust having its principal place of business at 300 Crescent Court, Suite 1100, Dallas, Texas, 75201, and Mutual Shareholder Services, LLC, a Delaware Limited Liability Company (“MSS”).

RANGER FUNDS INVESTMENT TRUST OPERATING EXPENSES LIMITATION AGREEMENT
Operating Expenses Limitation Agreement • September 28th, 2011 • Ranger Funds Investment Trust • Delaware

THIS OPERATING EXPENSES LIMITATION AGREEMENT (the “Agreement”) is effective as of the 14th day of September, 2011, by and between RANGER FUNDS INVESTMENT TRUST, a Delaware statutory trust (the “Trust”), on behalf of each series of the Trust listed in Appendix A (each a “Fund” and together, the "Funds"), and the investment adviser of each Fund, Ranger International Management (TX), LP (the “Adviser”).

ACCOUNTING SERVICES AGREEMENT
Accounting Services Agreement • September 28th, 2011 • Ranger Funds Investment Trust • Ohio

THIS AGREEMENT is made and entered into this 14th day of September, 2011, by and between the Ranger Funds Investment Trust (the “Trust”), a Delaware business trust having its principal place of business at 300 Crescent Court, Suite 1100, Dallas, Texas 75201 , and Mutual Shareholder Services, LLC, a Delaware Limited Liability Company (“MSS”).

SUBSCRIPTION AGREEMENT BETWEEN THE FUNDS AND THE INVESTOR RANGER SMALL CAP FUND RANGER QUEST FOR INCOME AND GROWTH FUND LETTER OF INVESTMENT INTENT
Subscription Agreement • September 28th, 2011 • Ranger Funds Investment Trust

Effective September 14, 2011, the undersigned (the "Purchaser") hereby subscribes to purchase a beneficial interest ("Interest") in the RANGER SMALL CAP FUND and RANGER QUEST FOR INCOME AND GROWTH FUND, each in the amount of $50,000.00 for 5,000 shares at net asset value of $10.00 per share, in consideration for which the Purchaser agrees to transfer to you upon demand cash in the amount of $100,000.00.

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