0001398344-15-002782 Sample Contracts

EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • April 29th, 2015 • Wilshire Mutual Funds Inc

EXPENSE LIMITATION AGREEMENT (the “Agreement”), effective as of May 1, 2015 by and between Wilshire Associates Incorporated, a California corporation (the “Adviser”) and Wilshire Mutual Funds, Inc. (the “Company”), on behalf of the Wilshire International Equity Fund (the “Fund”).

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INVESTMENT SUB-ADVISORY AGREEMENT
Investment Sub-Advisory Agreement • April 29th, 2015 • Wilshire Mutual Funds Inc • California

This Investment Sub-Advisory Agreement ("Agreement") is made as of the ____day of __________ and effective as of ___________________ (the “Effective Date”) by and between Wilshire Associates Incorporated, a California corporation ("Adviser") and NWQ Investment Management Company, LLC, a limited liability corporation ("Sub-Adviser").

EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • April 29th, 2015 • Wilshire Mutual Funds Inc

EXPENSE LIMITATION AGREEMENT (the “Agreement”), effective as of May 1, 2015 by and between Wilshire Associates Incorporated, a California corporation (the “Adviser”) and Wilshire Mutual Funds, Inc. (the “Company”) on behalf of the Small Company Growth Portfolio and the Small Company Value Portfolio (each a “Fund” and collectively, the “Funds”).

AMENDMENT NO. FIVE TO INVESTMENT SUB-ADVISORY AGREEMENT
Investment Sub-Advisory Agreement • April 29th, 2015 • Wilshire Mutual Funds Inc

THIS AMENDMENT NO. FIVE dated and effective as of May 16, 2014 (the “Effective Date”), amends the Investment Sub-Advisory Agreement dated April 1, 2002 and amended April 25, 2003, March 29, 2007, September 1, 2011 and April 1, 2013 (the “Agreement”) by and between Wilshire Associates Incorporated (the “Adviser”) and Los Angeles Capital Management and Equity Research, Inc. (the “Sub-Adviser”) with respect to the Wilshire Mutual Funds, Inc. (the “Fund”).

AMENDMENT TO INVESTMENT SUB-ADVISORY AGREEMENT
Investment Sub-Advisory Agreement • April 29th, 2015 • Wilshire Mutual Funds Inc

THIS AMENDMENT dated as of May __, 2014 and effective as of April 1, 2014 (the “Effective Date”), amends the Investment Sub-Advisory Agreement dated April 1, 2013 (the “Agreement”) by and between Wilshire Associates Incorporated (the “Adviser”) and Thomas White International, Ltd., (the “Sub-Adviser”) with respect to the Wilshire Mutual Funds, Inc. (the “Fund”).

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