0001413042-11-000344 Sample Contracts

MANAGEMENT AGREEMENT
Management Agreement • December 20th, 2011 • PFS Funds • Massachusetts

The Trust has been organized to engage in the business of an open-end management investment company. You, Christopher Weil & Company, Inc. (“Adviser,” “you” and “your”) have been selected to act as the sole investment manager of the Christopher Weil & Company Global Dividend Fund (the “Fund”) and to provide certain other services, as more fully set forth below, and you are willing to act as such investment manager and to perform such services under the terms and conditions hereinafter set forth. Accordingly, the Trust agrees with you as follows effective upon the date of the execution of this Agreement.

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SERVICES AGREEMENT Christopher Weil & Company Global Dividend Fund
Services Agreement • December 20th, 2011 • PFS Funds • Massachusetts

AGREEMENT dated as of December 19, 2011, between PFS Funds (the “Trust”), a Massachusetts business trust, and Christopher Weil & Company, Inc. (the “Adviser”), a California Corporation.

INVESTMENT SUB-ADVISORY AGREEMENT
Investment Sub-Advisory Agreement • December 20th, 2011 • PFS Funds • Massachusetts

THIS AGREEMENT is made as of December 19, 2011, by and between Christopher Weil & Company, Inc., a California Corporation (the “Adviser”), and Soledad Investment Management, LLC, a California limited liability company (the “Sub-Adviser”), on behalf of the series of the PFS Funds (the “Trust”) now or hereafter identified on Schedule A (the “Fund”).

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