0000891804-11-000530 Sample Contracts

SUB-ADVISORY AGREEMENT
Sub-Advisory Agreement • January 31st, 2011 • Security Equity Fund • Kansas

THIS AGREEMENT is made and entered into as of this 1st day of August, 2010, between SECURITY INVESTORS, LLC (the “Adviser”), a Kansas limited liability company, registered under the Investment Advisers Act of 1940, as amended (the “Investment Advisers Act”) and MAINSTREAM INVESTMENT ADVISERS, LLC (the “Subadviser”), a Kentucky limited liability company, registered under the Investment Advisers Act.

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EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • January 31st, 2011 • Security Equity Fund

THIS AGREEMENT, dated as of April 1, 2008, amended and restated effective as of January 31, 2011, is made and entered into by and between Security Investors, LLC (the “Adviser”) and each of the registered investment companies set forth on Schedule A (each such company being referred to herein as a “Company”). This Agreement shall apply to each investment portfolio of a Company as set forth in Schedule A (each a “Fund” and collectively the “Funds”).

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