0001193125-17-376743 Sample Contracts

OPERATING EXPENSE LIMITATION AGREEMENT DIREXION FUNDS
Operating Expense Limitation Agreement • December 22nd, 2017 • Direxion Funds • New York

THIS OPERATING EXPENSE LIMITATION AGREEMENT (the “Agreement”), is made as of August 24, 2017 by and between DIREXION FUNDS, a business trust organized under the laws of the Commonwealth of Massachusetts (the “Trust”), on behalf of each series listed on Appendix A hereto (each a “Fund” and collectively, the “Funds”), as such schedule may be amended from time to time, and the adviser of the Funds, Rafferty Asset Management, LLC, a New York limited liability corporation (the “Adviser”), is effective as to each Fund, as of the effective date listed on Appendix A.

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MANAGEMENT SERVICES AGREEMENT
Management Services Agreement • December 22nd, 2017 • Direxion Funds • Massachusetts

This AGREEMENT, made September 1, 2017, between the Direxion Funds, a business trust organized under the laws of the Commonwealth of Massachusetts (the “Trust”) and Rafferty Asset Management, LLC, a New York limited liability company (the “Manager”).

DIREXION FUNDS DISTRIBUTION AGREEMENT SCHEDULE A
Distribution Agreement • December 22nd, 2017 • Direxion Funds
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