Schedule A*
to the Investment Advisory Agreement
between
DUNHAM FUNDS
and
DUNHAM & ASSOCIATES INVESTMENT COUNSEL, INC.
Pursuant to Article 4, the Funds shall pay the Adviser compensation at an annual
rate as follows:
FUND: | Compensation (as a percentage of daily net assets): |
|
|
Dunham Corporate/Government Bond Fund | 0.50% |
Dunham High-Yield Bond Fund | 0.60% |
Dunham Real Estate Stock Fund | 0.65% |
Dunham Appreciation & Income Fund | 0.65% |
Dunham International Stock Fund | 0.65% |
Dunham Large Cap Value Fund | 0.65% |
Dunham Small Cap Value Fund | 0.65% |
Dunham Large Cap Growth Fund | 0.65% |
Dunham Emerging Markets Stock Fund | 0.65% |
Dunham Small Cap Growth Fund | 0.65% |
Dunham Monthly Distribution Fund | 0.65% |
Dunham Funds shall pay to each sub-adviser the fee set forth in the respective sub-advisory agreement, which shall specify a fee rate, provided that the annual fee rate for a sub-adviser shall be within the following ranges:
|
|
FUND | Range of Annual Sub-Adviser Fee (as a percentage of average daily net assets)* |
Dunham Corporate/Government Bond Fund | 0.00% to 0.70% |
Dunham High-Yield Bond Fund | 0.00% to 0.80% |
Dunham Real Estate Stock Fund | 0.00% to 1.00% |
Dunham Appreciation & Income Fund | 0.00% to 1.50% |
Dunham International Stock Fund | 0.00% to 1.00% |
Dunham Large Cap Value Fund | 0.00% to 1.00% |
Dunham Small Cap Value Fund | 0.00% to 1.50% |
Dunham Large Cap Growth Fund | 0.00% to 1.10% |
Dunham Emerging Markets Stock Fund | 0.00% to 1.20% |
Dunham Small Cap Growth Fund | 0.00% to 1.30% |
Dunham Monthly Distribution Fund | 0.00% to 1.50% |
* Revised May 14, 2008 to include Dunham Monthly Distribution Fund
DUNHAM & ASSOCIATES
DUNHAM FUNDS
INVESTMENT COUNSEL, INC.
By:
/s/ Jeffrey Dunham
By:
/s/ Denise S. Iverson
Jeffrey A. Dunham, President
Denise Iverson, Treasurer