0001193125-08-218056 Sample Contracts

SUBADVISORY AGREEMENT BETWEEN ABSOLUTE INVESTMENT ADVISERS LLC AND KINGSTOWN CAPITAL MANAGEMENT L.P.
Subadvisory Agreement • October 28th, 2008 • Forum Funds • Delaware

AGREEMENT made as of the 30th day of September, 2008 by and between Absolute Investment Advisers LLC, a Massachusetts limited liability company with its principal office and place of business at 350 Station Street, Suite 216, Hingham, MA, 02043 (the “Adviser”) (the “Adviser”) and Kingstown Capital Management L.P. , a limited partnership with its principal office and place of business at 1270 Broadway, Suite 1009, New York, New York 10001(the “Subadviser”).

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FORESIDE FUND SERVICES, LLC DEALER AGREEMENT
Dealer Agreement • October 28th, 2008 • Forum Funds • Delaware

As the distributor of the shares (“Shares”) of each investment company portfolio (“Fund”), of the investment company or companies referenced above and covered hereunder (collectively, “Company”) which may be amended by us from time to time, Foreside Fund Services, LLC (“Distributor”) hereby invites you to participate in the selling group on the following terms and conditions. In this letter, the terms “we,” “us,” and similar words refer to the Distributor, and the terms “you,” “your,” and similar words refer to the dealer executing this agreement, including its associated persons.

FORUM FUNDS INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • October 28th, 2008 • Forum Funds • New York

AGREEMENT made as of May 9, 2005, as amended August 1, 2008, by and between Forum Funds, a Delaware statutory trust, with its principal office and place of business at Two Portland Square, Portland, Maine 04101 (the “Trust”), and Merk Investments, LLC, with its principal office and place of business at 555 Bryant Avenue #455, Palo Alto, California 94301 (the “Adviser”).

INVESTMENT SUB-ADVISORY AGREEMENT FORUM FUNDS
Investment Sub-Advisory Agreement • October 28th, 2008 • Forum Funds • Delaware

AGREEMENT, made this 3 day of December, 2007, among Forum Funds (“Trust”), on behalf of each of its series set forth on Schedule A, as may be amended from time to time (each, a “Fund” and, together, the “Funds”), Brown Investment Advisory Incorporated, a Maryland corporation (“Adviser”), and Munder Capital Management, a Delaware general partnership (“Sub-Adviser”).

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