[GRAPHIC: ACCOLADE FUNDS LOGO]
ACCOLADE FUNDS
Bonnel Growth Fund
MegaTrends Fund
Xxxxxx Xxx Global Opportunity Fund
November ..............., 1996
U.S. Global Investors, Inc.
0000 Xxxxxxxxx Xxxx
Xxx Xxxxxxx, Xxxxx 00000
Gentlemen:
Pursuant to Section 1(b) of the Advisory Agreement dated September 21, 1994
between Accolade Funds (the "Trust") and U.S. Global Investors, Inc. (the
"Advisor"), please be advised that the Trust has established one new series of
its shares, namely, the Xxxxxx Xxx Global Opportunity Fund, and please be
further advised that the Trust desires to retain the Advisor to render
management and investment advisory services under the Advisory Agreement to this
Fund at the fees stated below:
XXXXXX XXX GLOBAL OPPORTUNITY FUND
Monthly Average Net Assets 1/12 of 1.25%
Please state below whether you are willing to render such services at the fees
stated above.
ACCOLADE FUNDS
Attest: By:
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Secretary Executive Vice President
Date:
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................................................................................
We are willing to render management and investment advisory services to the
Xxxxxx Xxx Global Opportunity Fund at the fee stated above.
U.S. GLOBAL INVESTORS, INC.
Attest: By:
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Secretary President
................................................................................
0000 Xxxxxxxxx Xxxx
Mail Address: P.O. Box 781234, San Antonio, TX 78278-1234
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