Exhibit - 10 ii
Reimbursement Agreements
The Scott James Fund will reimburse officers and directors not affiliated with
the Investment Adviser to compensate for travel expenses associated with
performance of their duties. As the Fund grows in total assets, the Board of
Directors may place them on salaries commensurate with their duties.
The Fund has no plans to compensate officers, employees and directors who are
affiliated with the Investment Adviser except indirectly through payment of the
management fee.
- 1 -
