0000894189-08-001403 Sample Contracts

MASTERS’ SELECT EQUITY FUND MASTERS’ SELECT FUNDS TRUST INVESTMENT SUB-ADVISORY AGREEMENT
Investment Sub-Advisory Agreement • April 30th, 2008 • Masters Select Funds Trust • California

THIS INVESTMENT SUB-ADVISORY AGREEMENT is made as of the ____ day of ____ 2008 by and between LITMAN/GREGORY FUND ADVISORS, LLC (the “Advisor”) and SANDS CAPITAL MANAGEMENT, LLC (the “Sub-Advisor”).

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Masters’ Select Funds Trust Restated Contractual Advisory Fee Waiver Agreement (For Fiscal Periods Commencing January 1, 2006)
Waiver Agreement • April 30th, 2008 • Masters Select Funds Trust • Delaware

THIS Contractual Advisory Fee Waiver Agreement (the “Agreement”) is effective as of January 1, 2006, by and between The Masters’ Select Funds Trust (the “Trust”), a Delaware statutory trust, on behalf of the series of the Trust listed in Appendix A (the “Funds”), and the Advisor of the Fund, Litman/Gregory Fund Advisors, LLC, a California limited liability company (the “Advisor”), and supersedes the prior Contractual Advisory Fee Waiver Agreements between the Trust and the Advisor.

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