EXHIBIT E
to the
Investment Advisory Agreement
BAIRD HORIZON GROWTH FUND
For all services rendered by the Advisor hereunder, the Corporation
shall pay the Advisor, on behalf of the above-named Fund, and the Advisor agrees
to accept as full compensation for all services rendered hereunder, an annual
investment advisory fee equal to 0.65% of the average daily net assets of the
Fund.
The Advisor hereby agrees that until December 31, 2002, the Advisor
will waive its fees and/or reimburse the Fund's operating expenses to the extent
necessary to ensure that the total operating expenses, excluding taxes, interest
and brokerage commissions (on an annual basis), do not exceed 1.00% of the
Investor Class's average daily net assets and 0.75% of the Institutional Class's
average daily net assets, subject to possible later recoupment as provided in
Section 5.
The annual investment advisory fee shall be accrued daily at the rate
of 1/365th of 0.65% applied to the daily net assets of the Fund. The advisory
fee so accrued shall be paid by the Corporation to the Advisor monthly.
Executed as of this 17th day of October, 2000.
THE ADVISOR:
ROBERT W. BAIRD & CO. INCORPORATED
By: /S/ GLEN F. HACKMANN
------------------------
THE CORPORATION:
BAIRD FUNDS, INC.
By: /S/ BRETT R. MEILI
------------------------
