Form 485BPOS PFS FUNDS

 

Letter Agreement Castle Tandem Fund

September 9, 2021

TO: PFS Funds
      1939 Friendship Drive, Suite C
      El Cajon, CA 92020

Dear Ladies and Gentlemen:

     Pursuant to a Services Agreement dated as of March 14, 2019, between PFS Funds (the “Trust”), a Massachusetts business trust, and Castle Investment Management, LLC (the “Adviser”), the Adviser receives an additional fee of 0.58% and is obligated to pay the operating expenses of the Fund excluding management fees, brokerage fees and commissions, 12b-1 fees, taxes, borrowing costs (such as (a) interest and (b) dividend expenses on securities sold short), the cost of acquired funds and extraordinary expenses.

     Effective November 1, 2021 the Adviser hereby contractually agrees to waive Services Agreement fees by 0.40% of its average daily net assets through October 31, 2022. Effective as of the date hereof, this Letter Agreement supersedes and replaces the fee waiver arrangement that was in place prior to November 1, 2021 with respect to the Services Agreement. The Services Agreement fee waiver will automatically terminate on October 31, 2022 unless it is renewed by the Adviser. The Adviser may not terminate the fee waiver before October 31, 2022.

Very truly yours, Castle Investment Management, LLC By: /s/ Andrew Welle            Print Name: Andrew Welle      Title: Managing Director

Acceptance: The foregoing agreement is hereby accepted.

PFS Funds By: /s/ Jeffrey R. Provence       Print Name: Jeffrey R. Provence Title: Treasurer

 

PRACTUS

October 27, 2021

PFS Funds

1939 Friendship Drive, Suite C

El Cajon, California 92020

Ladies and Gentlemen:

We hereby consent to the use of our name and to the reference to our firm in the Prospectus and under the caption “Fund Services” in the Statement of Additional Information for the Castle Tandem Fund, a series portfolio of the PFS Funds (the “Trust”), which is included in Post-Effective Amendment No. 221 to the Registration Statement under the Securities Act of 1933, as amended (No. 333-94671), and Amendment No. 221 to Registration Statement under the Investment Company Act of 1940, as amended (No. 811-09781), on Form N-1A of the Trust

Sincerely, /s/ John H. Lively On behalf of Practus, LLP

JOHN H. LIVELY I MANAGING PARTNER 11300 Tomahawk Creek Pkwy I Ste. 310 I Leawood, KS 66211 I p: 913.660.0778 I c: 913.523.6112 Practus, LLP I [email protected] I Practus.com

 

Cohen & Co

 

 CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 

 

 

We hereby consent to the incorporation by reference in this Registration Statement on Form N-1A of our report dated August 25, 2021, relating to the financial statements and financial highlights of Castle Tandem Fund, a series of PFS Funds, for the year ended June 30, 2021, and to the references to our firm under the headings “Financial Highlights” and “Other Fund Service Providers” in the Prospectus and “Independent Registered Public Accounting Firm” in the Statement of Additional Information.

 

/s/ Cohen & Company, Ltd.

 

COHEN & COMPANY, LTD.

Milwaukee, Wisconsin

October 26, 2021

 

 

 

 

 

 

 

 

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