0001398432-12-000095 Sample Contracts

AMENDMENT NO. 2 TO THE EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • January 31st, 2012 • Mirae Asset Discovery Funds

This AMENDMENT NO. 2 to the Expense Limitation Agreement, dated as of July 21, 2010 (the “Expense Limitation Agreement”), by and between Mirae Asset Global Investments (USA) LLC (the “Investment Manager”) and Mirae Asset Discovery Funds (the “Trust”), on behalf of each share class (each a “Share Class”, and collectively, the “Share Classes”) of each series of the Trust (each, a “Fund”, and collectively, the “Funds”), as set forth in Schedule A thereto, is dated as of December 19, 2011 (the “Amendment No. 2”). Capitalized terms used herein without separate definition have the respective meaning specified in the Expense Limitation Agreement. Section references herein refer to sections of the Expense Limitation Agreement except as otherwise provided.

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AMENDMENT TO THE INVESTMENT MANAGEMENT AGREEEMENT BETWEEN MIRAE ASSET DISCOVERY FUNDS AND MIRAE ASSET GLOBAL INVESTMENTS (USA) LLC
Investment Management Agreement • January 31st, 2012 • Mirae Asset Discovery Funds

THIS AMENDMENT is entered into as of December 19, 2011, by and among MIRAE ASSET DISCOVERY FUNDS (the “Funds”), a Delaware statutory trust and MIRAE ASSET GLOBAL INVESTMENTS (USA) LLC (the “Investment Manager”), a Delaware limited liability company having its main office at 1 Bryant Park, 39th Floor, New York, NY 10036.

SECOND AMENDMENT TO DISTRIBUTION AGREEMENT
Distribution Agreement • January 31st, 2012 • Mirae Asset Discovery Funds • Delaware

July 15, 2010, by and between Mirae Asset Discovery Funds, a Delaware statutory trust (the "Trust") and Funds Distributor, LLC, a Delaware limited liability company (the "Distributor") is effective as of December 19, 2011 (the "Effective Date").

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