EX-99.(E)(II) 3 distribution.htm AMENDMENT TO THE AMENDMENT AND RESTATED DISTRIBUTION AGREEMENT distribution.htm
DIREXION FUNDS
DISTRIBUTION PLAN

SCHEDULE A


The maximum annualized fee rate pursuant to Paragraph 1 of the Direxion Funds Investor Class Distribution Plan shall be as follows:

Direxion Monthly Developed Markets Bull 2X Fund
Direxion Monthly Developed Markets Bear 2X Fund
Direxion Monthly Emerging Markets Bull 2X Fund
Direxion Monthly Emerging Markets Bear 2X Fund
Direxion Monthly NASDAQ-100® Bull 2X Fund
Direxion Monthly NASDAQ-100® Bear 2X Fund
Direxion Monthly S&P 500® Bull 2X Fund
Direxion Monthly S&P 500® Bear 2X Fund
Direxion Monthly Small Cap Bull 2X Fund
Direxion Monthly Small Cap Bear 2X Fund
Direxion Monthly Dollar Bull 2X Fund
Direxion Monthly Dollar Bear 2X Fund
Direxion Monthly 10 Year Note Bull 2X Fund
Direxion Monthly 10 Year Note Bear 2X Fund
Direxion Monthly China Bull 2X Fund
Direxion Monthly Commodity Bull 2X Fund
Direxion Monthly Latin America Bull 2X Fund
Direxion/Wilshire Dynamic Fund
Commodity Trends Strategy Fund
Financial Trends Strategy Fund
Evolution All-Cap Equity Fund
  
Evolution Managed Bond Fund
PSI Core Strength Fund
Evolution  Market Leaders Fund
PSI Macro Trends Fund
Evolution Alternative Investment Fund
PSI Total Return Fund

Up to 1.00% of the average daily net assets.

HY Bear
Dynamic HY Bond Fund

Up to 0.40% of the average daily net assets


The maximum annualized fee rate pursuant to Paragraph 1 of the Direxion Funds Service Class Distribution Plan shall be as follows:


Commodity Trends Strategy Fund
Financial Trends Strategy Fund
Direxion/Wilshire Dynamic Fund
  
   
Spectrum Equity Opportunity Fund
Spectrum Global Perspective Fund
 
Spectrum Select Alternative Fund

Up to 1.00% of the average daily net assets;

HCM Freedom Fund
  

Up to 0.80% of the average daily net assets.
Last revised as of February 11, 2009
Amended on August 26, 2009
 
 
 
 
 
SCHEDULE B
DISTRIBUTION AGREEMENT among the DIREXION FUNDS,
RAFFERTY ASSET MANAGEMENT, LLC and
RAFFERTY CAPITAL MARKETS, LLC

Pursuant to Section 9 of the Distribution Agreement among the Direxion Funds (the “Trust”), Rafferty Asset Management, LLC (“Adviser”) and Rafferty Capital Markets, LLC (“Distributor”), Adviser shall pay to Distributor a monthly fee of $7,500.  This monthly payment shall be in addition to the following amounts:


(i) Rule 12b-1 fees of 0.25% of average annual fund assets of the Investor Class Shares of the Monthly S&P 500® Bull 2X Fund, Monthly S&P 500® Bear 2X Fund, Monthly NASDAQ-100® Bull 2X Fund, Monthly NASDAQ-100®  Bear 2X Fund, Monthly Small Cap Bull 2X Fund, Monthly Small Cap Bear 2X Fund, Monthly Dollar Bear 2X Fund, Monthly Dollar Bull 2X Fund, Monthly Emerging Markets Bull 2X Fund, Monthly Emerging Markets Bear 2X Fund, Monthly Developed Markets Bull 2X Fund, Monthly Developed Markets Bear 2X Fund, Monthly China Bull 2X Fund, Monthly Latin America Bull 2X Fund, Monthly Commodity Bull 2X Fund, Monthly 10 Year Note Bull 2X Fund, Monthly 10 Year Note Bear 2X Fund, Dynamic HY Bond Fund, HY Bear Fund, Commodity Trends Strategy Fund, Financial Trends Strategy Fund, Direxion/Wilshire Dynamic Fund, Evolution Managed Bond Fund, Evolution All-Cap Equity Fund, Evolution Market Leaders Fund, Evolution Alternative Investment Fund, PSI Core Strength Fund, PSI Macro Trends Fund, and PSI Total Return Fund;

(ii) Rule 12b-1 fees of 0.80% of average annual fund assets of the Service Class Shares of the HCM Freedom Fund;

(iii) Rule 12b-1 fees of 1.00% of average annual fund assets of the Service Class Shares of the Spectrum Select Alternative Fund, Spectrum Global Perspective Fund, and Spectrum Equity Opportunity Fund;

(iv) such additional fees as shall be set forth from time to time in this Schedule B.


Last Revised as of February 11, 2009
Amended on August 26, 2009

 
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