FORM OF INVESTMENT SUB-ADVISORY AGREEMENT between INDEPENDENCE CAPITAL MANAGEMENT, INC. and JANUS CAPITAL MANAGEMENT LLCInvestment Sub-Advisory Agreement • March 1st, 2013 • Penn Series Funds Inc • Maryland
INVESTMENT SUB-ADVISORY AGREEMENT, made as of May 1, 2013 by and between INDEPENDENCE CAPITAL MANAGEMENT, INC. (the “Adviser”), a corporation organized and existing under the laws of the Commonwealth of Pennsylvania, and JANUS CAPITAL MANAGEMENT LLC (the “Sub-Adviser”), a limited liability company organized and existing under the laws of the State of Delaware (the “Agreement”).
