Underlying Manager Agreement Sample Contracts

UNDERLYING MANAGER AGREEMENT
Underlying Manager Agreement • July 1st, 2008 • Wilshire Mutual Funds Inc • California

This Underlying Manager Agreement (“Agreement”) is made as of the________ day of _________, 2008 by and between Wilshire Associates Incorporated, a California corporation (“Adviser”), MAXAM Capital Management LLC, a Delaware limited liability company (“Sub-Adviser”) and NCM Capital Management Group, Inc., a registered investment adviser (“Underlying Manager”).

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