Addendum to Management Agreement Sample Contracts

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ADDENDUM TO MANAGEMENT AGREEMENT DATED FEBRUARY 1, 1995 BETWEEN ARIEL INVESTMENTS, LLC (f/k/a/ ARIEL CAPITAL MANAGEMENT, INC.) AND ARIEL INVESTMENT TRUST
Addendum to Management Agreement • November 17th, 2010 • Ariel Investment Trust

The series of Ariel Investment Trust (the “Trust”) designated Ariel Discovery Fund (the “Fund”) shall be managed by Ariel Investments, LLC (f/k/a Ariel Capital Management, LLC) (the “Adviser”) pursuant to the Management Agreement between Ariel Capital Management, Inc. and the Trust dated February 1, 1995 with an initial effective date of February 1, 1995, which was assumed by the Adviser pursuant to an Assumption Agreement dated February 1, 2004 between the Adviser and the Trust. The compensation payable out of the Fund pursuant to Section 4(a) of the Agreement shall be at the following annual rates:

FIRST AMENDMENT TO ADDENDUM TO MANAGEMENT AGREEMENT (“AGREEMENT”) DATED FEBRUARY 1, 1995 BETWEEN ARIEL INVESTMENTS, LLC (FORMERLY ARIEL CAPITAL MANAGEMENT) AND ARIEL INVESTMENT TRUST GOVERNING ARIEL FOCUS FUND AND ARIEL DISCOVERY FUND
Addendum to Management Agreement • November 26th, 2013 • Ariel Investment Trust

We hereby confirm that as of February 1, 2014, the compensation payable out of the assets of each respective Fund pursuant to Section 4(a) of the Agreement and each Fund’s respective Addendum shall be at the following annual rates:

ADDENDUM TO MANAGEMENT AGREEMENT
Addendum to Management Agreement • December 15th, 2010 • Profit Funds Investment Trust

Addendum dated December 14, 2010 to the Management Agreement (the “Agreement”) between Profit Funds Investment Trust (the “Trust”), on behalf of The Profit Fund (the “Fund”), and Profit Investment Management (the “Adviser”).

ADDENDUM TO MANAGEMENT AGREEMENT
Addendum to Management Agreement • December 1st, 2009 • Profit Funds Investment Trust

Addendum dated November 20, 2009 to the Management Agreement (the “Agreement”) between Profit Funds Investment Trust (the “Trust”), on behalf of The Profit Fund (the “Fund”), and Profit Investment Management (the “Adviser”).

ADDENDUM TO MANAGEMENT AGREEMENT
Addendum to Management Agreement • May 28th, 2010 • Profit Funds Investment Trust

Addendum dated November 20, 2009 to the Management Agreement (the “Agreement”) between Profit Funds Investment Trust (the “Trust”), on behalf of The Profit Fund (the “Fund”), and Profit Investment Management (the “Adviser”).

ADDENDUM TO MANAGEMENT AGREEMENT
Addendum to Management Agreement • October 1st, 2010 • Profit Funds Investment Trust

Addendum dated December __, 2010 to the Management Agreement (the “Agreement”) between Profit Funds Investment Trust (the “Trust”), on behalf of The Profit Fund (the “Fund”), and Profit Investment Management (the “Adviser”).

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