0001398344-19-018569 Sample Contracts

FORM OF INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • October 25th, 2019 • Horizon Funds • Delaware

This Agreement is made and entered into effective as of December ___, 2019, by and between Horizon Funds, a Delaware statutory trust (the “Trust”), on behalf of Horizon ESG Core Equity Fund with Risk Assist, a series of shares of the Trust (the “Fund”), and Horizon Investments, LLC, a South Carolina limited liability company (the “Adviser”).

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INVESTMENT SUB-ADVISORY AGREEMENT
Investment Sub-Advisory Agreement • October 25th, 2019 • Horizon Funds • Delaware

THIS INVESTMENT SUB-ADVISORY AGREEMENT (this “Agreement”), is made effective as of the ____ day of ____________, 2019, by and among Horizon Funds (the “Trust”), on behalf of the Horizon ESG Core Equity Fund with Risk Assist (the “Fund”), Horizon Investments, LLC, a South Carolina limited liability company (the “Adviser”) and DWS Investment Management Americas, Inc., a Delaware corporation (the “Sub-Adviser”).

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