0001413042-13-000330 Sample Contracts

MANAGEMENT AGREEMENT OUTFITTER FUND
Management Agreement • September 27th, 2013 • PFS Funds • Massachusetts

The Trust has been organized to engage in the business of an open-end management investment company. You, Outfitter Financial Corp. (“Adviser,” “you” and “your”) have been selected to act as the sole investment manager of the Outfitter Fund (the “Fund”) and to provide certain other services, as more fully set forth below, and you are willing to act as such investment manager and to perform such services under the terms and conditions hereinafter set forth. Accordingly, the Trust agrees with you as follows effective upon the date of the execution of this Agreement.

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SERVICES AGREEMENT Outfitter Fund
Services Agreement Outfitter Fund • September 27th, 2013 • PFS Funds • Massachusetts

AGREEMENT dated as of September 1, 2013, between PFS Funds (the “Trust”), a Massachusetts business trust, and Outfitter Financial Corp. (the “Adviser”), a Virginia Corporation.

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