Forward Funds Sample Contracts

FORWARD FUNDS INVESTMENT SUB-ADVISORY AGREEMENT
Forward Funds • June 29th, 2005 • Forward Funds • California

AGREEMENT, effective commencing on July 1, 2005, between Netols Asset Management Inc. (the “Sub-Advisor”), Forward Management, LLC (the “Investment Advisor”) and Forward Funds (the “Trust”), on behalf of the Forward Legato Fund (the “Fund”), a series of the Trust.

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FORWARD FUNDS INVESTMENT SUB-ADVISORY AGREEMENT
Forward Funds • June 29th, 2005 • Forward Funds • California

AGREEMENT, effective as of July 1, 2005, among Hansberger Global Investors, Inc. (the “Sub-Adviser”), Forward Funds (the “Trust”), and Forward Management, LLC (the “Adviser”) on behalf of the Hansberger International Equity Growth Fund (the “Fund”), a series of the Trust.

FORWARD FUNDS INVESTMENT MANAGEMENT AGREEMENT
Forward Funds • August 27th, 2015 • Forward Funds • California

AGREEMENT, effective as of June 9, 2015, between Forward Management, LLC (“Forward Management” or the “Investment Advisor”) and Forward Funds (the “Trust”) on behalf of the series of the Trust listed on Exhibit A (the “Funds”).

FORWARD FUNDS AMENDED AND RESTATED INVESTMENT SUB-ADVISORY AGREEMENT
Forward Funds • February 9th, 2006 • Forward Funds • California

AGREEMENT, effective commencing on July 1, 2005, and amended and restated on January 1, 2006, between Hoover Investment Management Co., LLC (the “Sub-Adviser”), and Forward Management, LLC (the “Adviser”) and Forward Funds (the “Trust”), on behalf of the Forward Hoover Small Cap Equity Fund (the “Fund”), a series of the Trust.

FORWARD FUNDS AMENDED AND RESTATED INVESTMENT SUB-ADVISORY AGREEMENT
Forward Funds • May 1st, 2006 • Forward Funds • California

AGREEMENT, effective commencing on July 1, 2005, and amended and restated on January 3, 2006, between Hoover Investment Management Co., LLC (the “Sub-Advisor”), Forward Management, LLC (the “Investment Advisor”) and Forward Funds (the “Trust”), on behalf of the Forward Hoover Mini-Cap Fund (the “Fund”), a series of the Trust.

Exhibit (d)(1) FORWARD FUNDS AMENDED AND RESTATED INVESTMENT MANAGEMENT AGREEMENT
Forward Funds • December 29th, 2011 • Forward Funds • California

AGREEMENT, effective as of May 1, 2005 and amended and restated as of January 8, 2008, March 5, 2008 and December 15, 2011, between Forward Management, LLC (“Forward Management” or the “Investment Advisor”) and Forward Funds (the “Trust”) on behalf of the series of the Trust listed on Exhibits A and B (the “Funds”).

FORWARD FUNDS INVESTMENT SUB-ADVISORY AGREEMENT
Forward Funds • June 29th, 2005 • Forward Funds • California

AGREEMENT, effective as of July 1, 2005, among Forward Uniplan Advisors, Inc. (the “Sub-Adviser”), Forward Management, LLC (the “Adviser”) and Forward Funds (the “Trust”), on behalf of the Sierra Club Equity Income Fund (the “Equity Income Fund”), a series of the Trust.

FORWARD FUNDS INVESTMENT SUB-ADVISORY AGREEMENT
Forward Funds • June 29th, 2005 • Forward Funds • California

AGREEMENT, dated as of July 1, 2005, among New York Life Investment Management, LLC, (the “Sub-Adviser”), Forward Funds (the “Trust”), and Forward Management, LLC (the “Adviser”) on behalf of the series of the Trust set forth in Appendix A (each a “Fund” and collectively the “Funds”).

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