0001292278-06-000008 Sample Contracts

INVESTMENT SUB-ADVISORY AGREEMENT
Investment Sub-Advisory Agreement • April 26th, 2006 • Old Mutual Advisor Funds • Delaware

AGREEMENT made as of this 1st day of March, 2006 by and among Old Mutual Capital, Inc. (the “Adviser”), Analytic Investors, Inc. (the “Sub-Adviser”), and Old Mutual Advisor Funds, a Delaware statutory trust (the “Trust”).

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OLD MUTUAL ADVISOR FUNDS EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • April 26th, 2006 • Old Mutual Advisor Funds • Delaware

This EXPENSE LIMITATION AGREEMENT, effective as of May 11, 2005, by and between Old Mutual Advisor Funds (the "Trust"), on behalf of each portfolio of the Trust set forth in Schedule A, Schedule C and Schedule I (each a "Portfolio”, and collectively, the "Portfolios"), and Old Mutual Capital, Inc. (the "Adviser").

AMENDMENT TO EXPENSE LIMITATION AGREEMENT BETWEEN OLD MUTUAL ADVISOR FUNDS AND OLD MUTUAL CAPITAL, INC. DATED MAY 11, 2005 AS AMENDED OCTOBER 14, 2005
Expense Limitation Agreement • April 26th, 2006 • Old Mutual Advisor Funds

This Agreement is amended by adding Class Z shares of the Portfolio to the Agreement. A new Schedule Z to the Agreement setting forth the expense limitation for Class Z shares is also added to the Agreement as set forth below:

EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • April 26th, 2006 • Old Mutual Advisor Funds

THIS AGREEMENT, dated as of March 1, 2006, is made and entered into by and between OLD MUTUAL ADVISOR FUNDS, a business trust organized under the laws of the State of Delaware (the “Trust”), and OLD MUTUAL CAPITAL, INC., a Delaware corporation (the “Adviser”).

INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • April 26th, 2006 • Old Mutual Advisor Funds • Delaware

AGREEMENT, entered into as of this 1st day of March, 2006 between Old Mutual Capital, Inc. (the “Adviser”) and Old Mutual Advisor Funds (the “Trust”).

AMENDMENT TO EXPENSE LIMITATION AGREEMENT BETWEEN OLD MUTUAL ADVISOR FUNDS AND OLD MUTUAL CAPITAL, INC. DATED SEPTEMBER 7, 2004 AS AMENDED NOVEMBER 28, 2005
Expense Limitation Agreement • April 26th, 2006 • Old Mutual Advisor Funds

This Agreement is amended by adding Class Z shares of each of the Portfolios to the Agreement. A new Schedule Z to the Agreement setting forth the expense limitation for Class Z shares is also added to the Agreement as set forth below:

AMENDMENT TO EXPENSE LIMITATION AGREEMENT BETWEEN OLD MUTUAL ADVISOR FUNDS AND OLD MUTUAL CAPITAL, INC. DATED MAY 11, 2005 AS AMENDED DECEMBER 16, 2005
Expense Limitation Agreement • April 26th, 2006 • Old Mutual Advisor Funds

This Agreement is amended by adding Class Z shares of the Portfolio to the Agreement. A new Schedule Z to the Agreement setting forth the expense limitation for Class Z shares is also added to the Agreement as set forth below:

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