0001193125-15-412910 Sample Contracts

DIREXION FUNDS DISTRIBUTION AGREEMENT SCHEDULE A
Distribution Agreement • December 23rd, 2015 • Direxion Funds

Pursuant to Section 9 of the Distribution Agreement among the Direxion Funds (the “Trust”), Rafferty Asset Management, LLC (“Adviser”) and Rafferty Capital Markets, LLC (“Distributor”), Adviser shall pay to Distributor the following amounts:

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AMENDED AND RESTATED OPERATING SERVICES AGREEMENT DIREXION FUNDS
Operating Services Agreement • December 23rd, 2015 • Direxion Funds • New York

This OPERATING SERVICES AGREEMENT (the “Agreement”), amends and restates the Operating Services Agreement dated July 1, 2009, by and between Direxion Funds, organized under the laws of the Commonwealth of Massachusetts (the “Trust”), on behalf of each of the series of the Trust listed on Schedule A hereto (each a “Fund” and collectively, the “Funds”), as such schedule may be amended from time to time, and the advisor of the Funds, Rafferty Asset Management, LLC, a New York limited liability company (hereinafter referred to as “RAM” or the “Advisor”) is effective as to each Fund as of the effective date listed on Schedule A.

AMENDED AND RESTATED OPERATING SERVICES AGREEMENT DIREXION FUNDS
Operating Services Agreement • December 23rd, 2015 • Direxion Funds • New York

This OPERATING SERVICES AGREEMENT (the “Agreement”), amends and restates the Operating Services Agreement dated July 8, 2014, by and between Direxion Funds, organized under the laws of the Commonwealth of Massachusetts (the “Trust”), on behalf of Direxion Hilton Tactical Income Fund, a series of the Trust (the “Fund”), and Rafferty Asset Management, LLC, a New York limited liability company (hereinafter referred to as “RAM” or the “Advisor”) is effective to the Fund as of the effective date listed on Schedule A.

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