0001413042-08-000057 Sample Contracts

Amendment to Management Agreement
Management Agreement • April 28th, 2008 • Paradigm Funds

You have engaged us to act as the sole investment advisor to the Paradigm Value Fund (the “Fund”), pursuant to a Management Agreement dated December 11, 2002 and amended December 16, 2005. Effective May 1, 2008, the advisor hereby contractually agrees that the first paragraph of Section 3 of the Agreement is revised to read as follows:

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