0001193125-16-485772 Sample Contracts

March 1, 2016
Harbor Funds • February 29th, 2016
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Investment Advisory Agreement For Subadviser HARBOR CAYMAN COMMODITY FUND LTD.
Harbor Funds • February 29th, 2016 • Illinois

Harbor Capital Advisors, Inc. (the “Adviser”), a Delaware corporation, with its principal offices at 111 South Wacker Drive, 34th Floor, Chicago, Illinois 60606, is the investment adviser to the Harbor Cayman Commodity Fund Ltd. (the “Fund”). The Fund has been incorporated under the laws of the Cayman Islands to enable the Harbor Commodity Real Return Strategy Fund (the “Harbor Mutual Fund”) to gain exposure to certain types of commodity-linked derivative instruments. The Harbor Mutual Fund is a series of Harbor Funds, a U.S. registered investment company, and the Fund is a wholly owned subsidiary of the Harbor Mutual Fund. You serve as sub-investment adviser to the Harbor Mutual Fund. It is the Adviser’s desire to engage you to act as sub-investment adviser to the Fund so that you are able to implement the Harbor Mutual Fund’s investment strategy both directly and indirectly through the Harbor Mutual Fund’s investments in the Fund. Accordingly, pursuant to authority granted the Advise

Investment Advisory Agreement (HARBOR CAYMAN COMMODITY FUND LTD.)
Harbor Funds • February 29th, 2016 • Illinois

Harbor Cayman Commodity Fund Ltd. (the “Fund”) has been organized under the laws of the Cayman Islands to enable the Harbor Commodity Real Return Strategy Fund (the “Harbor Mutual Fund”) to gain exposure to certain types of commodity-linked derivative instruments. The Harbor Mutual Fund is a series of Harbor Funds, a U.S. registered investment company. The Fund is a wholly owned subsidiary of the Harbor Mutual Fund. You serve as investment adviser to the Harbor Mutual Fund. It is the Fund’s desire to engage you to act as investment adviser to the Fund so that you are able to implement the Harbor Mutual Fund’s investment strategy directly and indirectly through the Harbor Mutual Fund’s investments in the Fund. Accordingly, the Fund has selected you to act as the investment adviser of the Fund and to provide certain other services, as more fully set forth below, and you are willing to act as such investment adviser and to perform such services under the terms and conditions hereinafter s

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