0000939891-00-000001 Sample Contracts

FundManager Portfolios One Beacon Street Boston, Massachusetts 02108 May 20, 1998
Master Investment Advisory Contract • January 28th, 2000 • Fundmanager Portfolios
MASTER INVESTMENT ADVISORY CONTRACT LETTER AGREEMENT
Master Investment Advisory Contract • January 28th, 2000 • Fundmanager Portfolios

Under the Master Investment Advisory Contract between Freedom Capital Management Corporation (the "Adviser") and FundManager Portfolios (the "Trust"), dated May 20, 1998, the Adviser agrees to waive its management fee and limit expenses for the Aggressive Growth Portfolio so that total annual operating expenses do not exceed 1.60% on the Class A Shares and 2.35% on the Class B Shares through the period ending January 31, 2001.