0001193125-07-166811 Sample Contracts

ADVISORY AGREEMENT
Advisory Agreement • July 31st, 2007 • Mercantile Funds Inc • Maryland

AGREEMENT made this 19th day of July, 2007, between Mercantile Funds, Inc. (the “Company”), a Maryland corporation having its principal place of business in Baltimore, Maryland, and Mercantile Capital Advisors, Inc. (the “Advisor”), an investment adviser having its principal place of business in Baltimore, Maryland.

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SUB-ADVISORY AGREEMENT
Sub-Advisory Agreement • July 31st, 2007 • Mercantile Funds Inc • Maryland

AGREEMENT made this 19th day of July, 2007, between Mercantile Capital Advisors, Inc. (the “Adviser”), an investment adviser having its principal place of business in Baltimore, Maryland, and Boyd Watterson Asset Management, LLC (the “Sub-Adviser”), an investment adviser having its principal place of business in Cleveland, Ohio.

ADDENDUM TO ADMINISTRATION AGREEMENT
Administration Agreement • July 31st, 2007 • Mercantile Funds Inc

This Addendum, effective as of March 2, 2007, is entered into between the Mercantile Funds, Inc. (the “Company”) and Mercantile Capital Advisors, Inc. (“Mercantile”).

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