0001193125-16-805409 Sample Contracts

DIREXION FUNDS SUBADVISORY AGREEMENT
Subadvisory Agreement • December 28th, 2016 • Direxion Funds • Massachusetts

This Subadvisory Agreement is made as of July 21, 2014 (the “Effective Date”), between Rafferty Asset Management, LLC, a New York limited liability corporation (the “Adviser”), and Hilton Capital Management, LLC, (the “Subadviser”).

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DIREXION FUNDS INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • December 28th, 2016 • Direxion Funds • Massachusetts

This Investment Advisory Agreement between Direxion Funds (the “Trust”), a business trust organized under the laws of the Commonwealth of Massachusetts, and Rafferty Asset Management, LLC, a New York limited liability corporation (the “Adviser”), is made as of September 22, 1997, as last amended and restated on August 26, 2009.

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