0001413042-19-000325 Sample Contracts

MANAGEMENT AGREEMENT ALPHA FIDUCIARY QUANTITATIVE STRATEGY FUND
Management Agreement • November 5th, 2019 • PFS Funds • Massachusetts

The Trust has been organized to engage in the business of an open-end management investment company. You, Alpha Fiduciary, Inc. (“Adviser,” “you” and “your”) have been selected to act as the sole investment manager of Alpha Fiduciary Quantitative Strategy 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 (the “Agreement”). Accordingly, the Trust agrees with you as follows effective upon the date of the execution of this Agreement.

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SERVICES AGREEMENT ALPHA FIDUCIARY QUANTITATIVE STRATEGY FUND
Services Agreement Alpha • November 5th, 2019 • PFS Funds • Massachusetts

AGREEMENT dated as of October 30, 2019, between PFS Funds (the “Trust”), a Massachusetts business trust, and Alpha Fiduciary, Inc. (the “Adviser”), an Arizona Corporation.

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