0000950136-06-000124 Sample Contracts

EXHIBIT 22(h)(2) December 19, 2005 Clipper Fund, Inc. 9601 Wilshire Boulevard Suite 800 Beverly Hills, California 90210 Re: Administrative Services Agreement This will confirm our agreement that Davis Selected Advisers, L.P. ("Davis") will provide...
Clipper Funds Trust • January 9th, 2006

This will confirm our agreement that Davis Selected Advisers, L.P. ("Davis") will provide Clipper Fund, Inc. (the "Fund") with all necessary administrative services, commencing December 20, 2005, without charge. Davis' administrative services will include without limitation the services indicated on the attached list, but not the services shown as exceptions on the list. Davis will provide these administrative services to the Fund for as long as Davis serves as investment adviser to the Fund or until such earlier date as this agreement is terminated by Davis or the Fund upon 90 days written notice.

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UNDERWRITING AGREEMENT BETWEEN
Underwriting Agreement • January 9th, 2006 • Clipper Funds Trust • Delaware
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