AMENDMENT TO INVESTMENT ADVISORY AGREEMENTSInvestment Advisory Agreement • December 30th, 2013 • Denali Fund Inc.
This amendment to Investment Advisory Agreements (this “Amendment”) is entered into as of the 31st day of October, 2013, by and among The Denali Fund Inc., a Maryland corporation (the “Fund”), Boulder Investment Advisers, L.L.C. a Colorado limited liability company (“BIA”) and Stewart Investment Advisers, a Barbados international business company (“SIA” and, together with BIA, the “Advisers”).
