FORM OF INVESTMENT ADVISORY AGREEMENT (LEUTHOLD HEDGED EQUITY FUND)Investment Advisory Agreement • May 8th, 2009 • Leuthold Funds Inc
This Investment Advisory Agreement (this “Agreement”) is made and entered into this 9th day of February, 2009 by and between Leuthold Funds, Inc., a Maryland corporation (the “Company”), and Leuthold Weeden Capital Management, a Delaware limited liability company (the “Adviser”).
