0000894189-16-007263 Sample Contracts

INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • January 29th, 2016 • Horizon Funds • Delaware

This Agreement is made and entered into effective as of January 29, 2016, by and between Horizon Funds, a Delaware statutory trust (the “Trust”), on behalf of Horizon Active Risk Assist Fund, a series of shares of the Trust (the “Fund”), and Horizon Investments, LLC, a South Carolina limited liability company (the “Adviser”).

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INITIAL SUBSCRIPTION AGREEMENT
Initial Subscription Agreement • January 29th, 2016 • Horizon Funds • Delaware
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