Letter Agreement Castle Focus FundLetter Agreement • October 27th, 2022 • PFS Funds
Pursuant to a Services Agreement dated as of June 28, 2010, between PFS Funds (the “Trust”), a Massachusetts business trust, and Castle Investment Management, LLC (the “Adviser”), the Adviser receives an additional fee of 0.58% and is obligated to pay the operating expenses of the Fund excluding management fees, brokerage fees and commissions, 12b-1 fees, taxes, borrowing costs (such as (a) interest and (b) dividend expenses on securities sold short), the cost of acquired funds and extraordinary expenses.
AMENDMENT No. 2 TO THE INVESTMENT SUB-ADVISORY AGREEMENTSub-Advisory Agreement • October 27th, 2022 • PFS Funds
This Amendment No. 2 is made to the Investment Sub-Advisory Agreement between Castle Investment Management, LLC (the “Advisor”) and St. James Investment Company, LLC (the “Sub-Advisor”) on behalf of the Castle Focus Fund and shall become effective as of June 30, 2022. It is mutually understood and agreed by and between the undersigned parties to amend Schedule A of the Investment Sub-Advisory Agreement to read as follows:
