AMENDMENT TO
OPERATING SERVICES AGREEMENT
XXXXXX MUTUAL FUNDS, INC.
Effective December 1, 2005, Section 2(a) of the Operating Services Agreement,
dated November 30, 1999, by and between Xxxxxx Mutual Funds, Inc., a Maryland
corporation (the "Fund"), and Edgemoor Capital Management, Inc., a Maryland
corporation (the "Adviser"), is amended as follows:
(a) Fee. The Fund will pay to the Adviser on the last day of each month an
annual fee equal to 0.40% of the average net assets of the Portfolio, such
fee to be computed daily based upon the net asset value of the Portfolio as
determined by a valuation made in accordance with the Fund's procedure for
calculating Portfolio net asset value as described in the Fund's Prospectus
and/or Statement of Additional Information. During any period when the
determination of a Portfolio's net asset value is suspended by the
directors of the Fund, the net asset value of a share of that Portfolio as
of the last business day prior to such suspension shall, for the purpose of
this Paragraph 2(a), be deemed to be the net asset value at the close of
each succeeding business day until it is again determined.
IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Amendment to the Operating Services Agreement on the day and year first above
written.
Xxxxxx Mutual Funds, Inc.
By: /s/ Xxxxxx X. Xxxxxx
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Xxxxxx X. Xxxxxx, President
Edgemoor Capital Management, Inc.
By: /s/ Xxxxxx X. Xxxxxx
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Xxxxxx X. Xxxxxx, President