0001193125-09-116789 Sample Contracts

ADVISORY AGREEMENT
Advisory Agreement • May 21st, 2009 • BARON INVESTMENT FUNDS TRUST (F/K/a BARON ASSET FUND) • New York

This Advisory Agreement, made the 30th day of September, 1997, and amended and restated as of May 12, 2009, by and between BAMCO, Inc., a New York corporation (“BAMCO”) and Baron Small Cap Fund (“Client”), a series of Baron Investment Funds Trust (formerly known as Baron Asset Fund), a Massachusetts business trust.

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Distribution Agreement Amended and Restated as of May 12, 2009
Distribution Agreement • May 21st, 2009 • BARON INVESTMENT FUNDS TRUST (F/K/a BARON ASSET FUND) • New York

This Distribution Agreement, entered into the 12th day of June, 1987, and amended and restated as of May 12, 2009 by and between Baron Capital, Inc. (“BCI”), a New York corporation and Baron Investment Funds Trust (formerly known as Baron Asset Fund), a Massachusetts business trust (the “Trust”) with respect to the shares of beneficial interest of all series of the Trust now in existence or subsequently created (each, a “Fund” and collectively, the “Funds”).

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