0001413042-17-000096 Sample Contracts

MANAGEMENT AGREEMENT ENSEMBLE FUND
Management Agreement • April 26th, 2017 • PFS Funds • Massachusetts

The Trust has been organized to engage in the business of an open-end management investment company. You have been selected to act as the sole investment adviser of the Ensemble Fund (the “Fund”) and to provide certain other services, as more fully set forth below, and you are willing to act as such investment adviser 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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