Penn Series Sample Contracts

PENN SERIES FUNDS, INC. AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT
Penn Series • April 30th, 2014 • Penn Series Funds Inc

This Agreement, dated as of May 1, 2014, is made and entered into by and among Independence Capital Management, Inc. (the “Adviser”), The Penn Mutual Life Insurance Company (“Penn Mutual”), and Penn Series Funds, Inc. (the “Company”), on behalf of each portfolio of the Company listed on SCHEDULE A attached hereto, as may be amended from time to time (each, a “Fund” and, collectively, the “Funds”).

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PENN SERIES FUNDS, INC. EXPENSE LIMITATION AGREEMENT
Penn Series • April 30th, 2010 • Penn Series Funds Inc

This Agreement, dated as of June 2, 2009, is made and entered into by and among Independence Capital Management, Inc. (the “Adviser”), The Penn Mutual Life Insurance Company (“Penn Mutual”), and Penn Series Funds, Inc. (the “Company”), on behalf of each portfolio of the Company listed on SCHEDULE A attached hereto, as may be amended from time to time (each, a “Fund” and, collectively, the “Funds”).

PENN SERIES FUNDS, INC. EXPENSE LIMITATION AGREEMENT
Penn Series • April 29th, 2011 • Penn Series Funds Inc

This Agreement, dated as of December 15, 2010, is made and entered into by and among Independence Capital Management, Inc. (the “Adviser”), The Penn Mutual Life Insurance Company (“Penn Mutual”), and Penn Series Funds, Inc. (the “Company”), on behalf of each portfolio of the Company listed on SCHEDULE A attached hereto, as may be amended from time to time (each, a “Fund” and, collectively, the “Funds”).

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