0001209286-14-000359 Sample Contracts

EXPENSE LIMITATION AGREEMENT BROWN CAPITAL MANAGEMENT MUTUAL FUNDS
Expense Limitation Agreement • July 29th, 2014 • Brown Capital Management Mutual Funds

THIS EXPENSE LIMITATION AGREEMENT (“Expense Limitation Agreement”), is entered into effective as of July 14, 2011 by and between Brown Capital Management, LLC (the “Advisor”) and Brown Capital Management Mutual Funds (the “Trust”), on behalf of each series of the Trust set forth in Schedule A attached hereto (each a “Fund,” and collectively, the “Funds”).

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AMENDED INVESTMENT ADVISORY AGREEMENT
Amended Investment Advisory Agreement • July 29th, 2014 • Brown Capital Management Mutual Funds • Delaware

INVESTMENT ADVISORY AGREEMENT (the "Agreement") made as of this 30th day of June, 2014 by and between Brown Capital Management Mutual Funds (the “Trust”), a Delaware statutory trust registered as an investment company under the Investment Company Act of 1940, as amended (the “1940 Act”), and Brown Capital Management, LLC (the “Advisor”), a Maryland limited liability company with its principal place of business in Baltimore, Maryland.

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