MANAGEMENT AGREEMENT
SCHEDULE A
SERIES OF ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ INCOME FUNDS
▇▇▇▇▇▇ Brothers High Income Bond Fund
▇▇▇▇▇▇ Brothers Short Duration Bond Fund
▇▇▇▇▇▇ Brothers Municipal Money Fund
▇▇▇▇▇▇ Brothers Municipal Securities Trust
▇▇▇▇▇▇ Brothers Strategic Income Fund
Dated: November 10, 2008
MANAGEMENT AGREEMENT
SCHEDULE B
RATE OF COMPENSATION
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FUND RATE OF COMPENSATION BASED ON
EACH FUND'S AVERAGE DAILY NET
ASSETS
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▇▇▇▇▇▇ Brothers Short Duration Bond Fund 0.250% of first $500 million
▇▇▇▇▇▇ Brothers Municipal Money Fund 0.225% of next $500 million
▇▇▇▇▇▇ Brothers Municipal Securities Trust 0.200% of next $500 million
0.175% of next $500 million
0.150% in excess of $2 billion
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▇▇▇▇▇▇ Brothers High Income Bond Fund 0.480%
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▇▇▇▇▇▇ Brothers Strategic Income Fund 0.600%
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Dated: November 10, 2008
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