Document:

EX-10.2

 Exhibit 10.2 

FORM OF FUND SERVICES AGREEMENT 

THIS FUND SERVICES AGREEMENT (this “Agreement”) is made as of
the                    , 2016, by and between Equinox Frontier Funds, a Delaware statutory trust (the “Trust”), and Gemini Fund Services,
LLC, a Nebraska limited liability company (“GFS”). This Agreement replaces and supersedes all prior understandings and agreements between the parties hereto for the services described below. 

WHEREAS, the Trust is registered with the United States Securities and Exchange Commission (the “SEC”) under the Securities
Act of 1933, as amended (the “Securities Act”); and 
 WHEREAS, the Trust is authorized to issue shares in separate series,
with each such series registered under the National Futures Association (the “NFA”) and the Commodity Futures Trading Commission (the “CFTC”); and 

WHEREAS, the Trust offers shares in the series (“Shares”) as set forth on Appendix II attached hereto (each such
series, together with all other series subsequently established by the Trust and made subject to this Agreement in accordance with Section 10, being herein referred to as a “Fund” and collectively, the “Funds”); and

 WHEREAS, the Trust desires that GFS perform the services set forth on Appendix I and II (collectively the
“Services”) for the Funds and GFS is willing to provide the Services on the terms and conditions set forth in this Agreement. 

NOW THEREFORE, in consideration of the promises and mutual covenants contained herein, the Trust and GFS hereby agree as follows: 

 

	1.	APPOINTMENT AND DELIVERY OF DOCUMENTS 

  

	 	(a)	The Trust, on behalf of each Fund listed in Appendix II attached hereto, hereby appoints GFS to provide the Services to the Trust for the period and on the terms set forth in this Agreement. GFS accepts such
appointment and agrees to furnish the services herein set forth in return for the compensation as provided in Section 3 and Appendix II of this Agreement. 

 

	 	(b)	In connection therewith (and as applicable) the Trust will cause to be delivered to GFS copies of: 

  

	 	(i)	the Trust Agreement and Declaration of Trust and Bylaws (collectively, the “Organizational Documents”); 

  

	 	(ii)	the Registration Statement and all amendments thereto for the Trust and each Fund as filed with the SEC pursuant to the Securities Act (collectively the “Registration Statements”; and each a “Registration
Statement”); 

  

	 	(iii)	the Fund’s offering materials used to offer or sell securities of the Fund, including, without limitation, any private placement memorandum or confidential information memorandum and any subscription documents,
(“Offering Materials”); 

  
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	 	(iv)	the Trust’s current Prospectus and Statement of Additional Information for each Fund (collectively, as currently in effect and as amended or supplemented, the “Prospectus”); 

 

	 	(v)	each Fund’s current plan of distribution (the “Plan”); 

  

	 	(vi)	each Fund’s investment advisory agreement; 

  

	 	(vii)	each Fund’s underwriting agreement (or other distribution agreements); 

  

	 	(viii)	contact information for each Fund’s current service providers, including, but not limited to, each Fund’s custodian, independent auditors, legal counsel, underwriter, and chief compliance officer;

  

	 	(ix)	a copy of all the compliance procedures adopted by the Trust, in respect of the Funds, in accordance with applicable rules and regulations of the NFA, the SEC, and the CFTC; and 

 

	 	(x)	other applicable documents as may be reasonably requested by GFS. 

  

	 	(c)	The Trust shall promptly furnish GFS with all amendments of or supplements to the items listed in Section 1(b) above, and shall deliver to GFS a copy of the resolution of the Board of Trustees of the Trust
(the “Board”) appointing GFS and authorizing the execution and delivery of this Agreement. 

  

	2.	DUTIES OF GFS 

 GFS’s duties with respect to the Services are detailed in
Appendix I to this Agreement. 
  

	 	(a)	In order for GFS to perform the Services, the Trust (i) shall use reasonable efforts to cause all service providers to each Fund to furnish any and all information to GFS, and assist GFS as may be required and
(ii) shall ensure that GFS has access, or can be granted access, to all records and documents maintained by the Trust or any service provider to the Trust or any Fund. 

 

	 	(b)	GFS shall, for all purposes herein, be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or represent the Trust in any way or otherwise be
deemed an agent of the Trust. 

  

	 	(c)	Whenever, in the course of performing its duties under this Agreement, GFS determines, on the basis of information supplied to GFS by the Trust, that a violation of applicable law has occurred, or that, to its
knowledge, a possible violation of applicable law may have occurred, or with the passage of time could occur, GFS shall promptly notify the Trust and its legal counsel of such violation. 

  
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	3.	FEES AND EXPENSES 

  

	 	(a)	Fees. As compensation for the Services provided by GFS to the Trust pursuant to this Agreement, the Trust, on behalf of each Fund, agrees to pay GFS the fees set forth in Appendix II attached hereto. Fees
will begin to accrue for each Fund on the latter of the date of this Agreement or the date GFS begins providing Services to such Fund. For the purpose of determining fees calculated as a function of a Fund’s assets, the value of the Fund’s
assets and net assets shall be computed as required by its currently effective Prospectus, generally accepted accounting principles, and resolutions of the Board. GFS will render, after the close of each month in which Services have been furnished,
a statement reflecting all of the charges for such month. Services provided for partial months shall be subject to pro ration. 

  

	 	(b)	Expenses. GFS will bear its own expenses, in connection with the performance of the Services under this Agreement, except as provided herein or as agreed to by the parties. In addition to the fees paid under
Section 3(a), the Trust agrees to reimburse GFS for all reasonable and documented out-of-pocket expenses or advances incurred by GFS to perform the Services or otherwise incurred by GFS at the request or with the consent of the Trust.
For reports, analyses and services requested in writing by the Trust and provided by GFS, not in the ordinary course, GFS shall charge hourly fees as specified in Appendix II attached hereto. 

 

	 	(c)	Fee Changes. On each anniversary date of this Agreement, the base and/or minimum fees enumerated in Appendix II attached hereto, may be increased by the change in the Consumer Price Index for the Northeast
region (the “CPI”) for the twelve-month period ending with the month preceding such annual anniversary date. Any CPI increases not charged in any given year may be included in prospective CPI fee increases in future years. GFS Agrees to
provide the Board prior written notice of any CPI increase. 

  

	 	(d)	Due Date. All fees contemplated under Section 3(a) above and reimbursement for all expenses contemplated under Section 3(b) above are due and payable within thirty (30) days of
receipt of an invoice provided by GFS. Any fees or reimbursements due hereunder and not received by its due date may be assessed interest at the maximum amount permitted by law. 

 

	 	(e)	Books and Records. The accounts, books, records and other documents maintained by GFS in connection with its performance of the Services (the “Records”) shall be the property of the Funds, and shall be
surrendered to the Funds or the Company, at the expense of the Funds or the Company, promptly upon request by the Funds in the form in which such Records have been maintained or preserved, provided that all service fees and expenses charged by GFS
in the performance of its duties hereunder have been fully paid to the satisfaction of GFS. GFS agrees to maintain a backup set of Records of the Funds (which backup set shall be updated on at least a weekly basis) at a location other than that
where the original Records are stored. GFS shall assist the Funds’ independent auditors, or, upon approval of the Funds, any regulatory body, in any requested review of the Funds’ Records. GFS shall preserve the Records, as they are
required to be maintained and preserved by Rule 31a-1 under the Investment Company Act of 1940, as amended (“1940 Act”), as if the Funds were subject to such rule. 

  
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	 	(f)	De-Conversion Fees. Upon termination of this Agreement, GFS will charge a “De-Conversion” fee to compensate GFS for providing to the Fund’s new service providers, all material records, history and
data maintained by GFS under this Agreement. The amount of the De-Conversion fees are specified in Appendix II attached hereto. In addition, GFS reserves the right to charge for out-of-pocket expenses associated with the De-Conversion, as
specified in Section 12(d) of this Agreement. Notwithstanding the above, De-Conversion fees shall not be charged in the event termination is a result of a breach of this Agreement and any related Addendum by GFS. 

 

	 	(g)	Post-Engagement Audit Support Fees. After a De-Conversion, GFS is often called upon to provide support to a Fund’s service provider and assist with a Fund’s annual audit. Services provided by GFS to
accommodate a Fund’s request following termination of this Agreement shall be subject to GFS’s standard hourly rates existing at the time of the request. The Fund agrees to compensate GFS, at GFS’s standard hourly rates, for
accommodating a Fund’s request following termination of this Agreement. 

  

	4.	STANDARD OF CARE, INDEMNIFICATION AND RELIANCE 

  

	 	(a)	Indemnification of GFS. The Trust shall, on behalf of each applicable Fund, indemnify and hold GFS harmless from and against any and all losses, damages, costs, charges, reasonable and documented fees of one
external counsel or consultant, payments, expenses and liability (collectively, “Losses”), arising out of or attributable to the Trust’s refusal or failure to comply with the terms of this Agreement, breach of any representation or
warranty made by the Trust contained in this Agreement, or which arise out of the Trust’s lack of good faith, gross negligence or willful misconduct with respect to the Trust’s performance under or in connection with this Agreement. GFS
shall be without liability for any action reasonably taken or omitted pursuant to this Agreement. 

  

	 	(b)	Indemnification of the Trust. GFS shall indemnify and hold the Trust and each applicable Fund harmless from and against any and all Losses arising out of or attributable to GFS’s refusal or failure to comply
with the terms of this Agreement, breach of any representation or warranty made by GFS contained in this Agreement or which arise out of GFS’s lack of good faith, gross negligence, or willful misconduct with respect to GFS’s performance
under or in connection with this Agreement. The Trust and each applicable Fund shall be without liability for any action reasonably taken or omitted pursuant to this Agreement. 

 

	 	(c)	Reliance. Except to the extent that GFS may be liable pursuant to Sections 4(a) and 4(b) above, the Trust shall hold GFS harmless and GFS shall not be liable for any action taken or failure to act
in reliance upon, and shall be entitled to rely upon: 

  

	 	(i)	advice of the Trust, its officers, independent auditors or counsel to the Trust; 

  

	 	(ii)	any written instruction or certified copy of any resolution of the Board, and GFS may rely upon the genuineness of any such document, copy or facsimile thereof reasonably believed by GFS to have been validly executed;

  
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	 	(iii)	any signature, instruction, request, letter of transmittal, certificate, opinion of counsel, statement, instrument, report, notice, consent, order, or other document reasonably believed by GFS to be genuine and to have
been signed or presented by the Trust or other proper party or parties; 

  

	 	(iv)	any instruction, information, data, records or documents provided to GFS or its agents or subcontractors furnished (pursuant to procedures mutually agreed to by GFS and the Trust’s service providers) by machine
readable input, data entry, email, facsimile or other similar means authorized by the Trust; and 

  

	 	(v)	any authorization, instruction, approval, item or set of data, or information of any kind transmitted to GFS in person or by telephone, email, facsimile or other electronic means, furnished by any Authorized Person or
by a person or persons GFS reasonably believes to be properly authorized by the Board; provided that if such person or persons is not designated as an Authorized Person, written evidence of the Board’s authorization is given in connection with
such communication. GFS shall not be held to have notice of any change of authority of any person, until receipt of written notice thereof from the Trust. 

GFS shall not be under any duty or obligation to inquire into the validity or invalidity or authority or lack of authority of any statement,
oral or written instruction, resolution, signature, request, letter of transmittal, certificate, opinion of counsel, instrument, report, notice, consent, order, or any other document or instrument which GFS reasonably believes to be genuine and
provided by or on behalf of the Trust or any Authorized Person. 
 For purposes of this Section 4, “Authorized Person” shall
mean each person, whether or not an officer or employee of the Trust, duly authorized by the Trust in writing to give instructions on behalf of the Trust as set forth in Exhibit I hereto. 

At any time, GFS may apply to any officer of the Trust for instructions, and may consult with legal counsel to the Trust with respect to any
matter arising in connection with the routine services to be performed by GFS under this Agreement, and GFS and its agents or subcontractors shall not be liable and shall be indemnified by the Trust on behalf of the applicable Fund for any action
taken or omitted by it in reasonable reliance upon such instructions or upon the advice of such counsel. GFS agrees to consult first with a Fund’s adviser before engaging in any legal consultation that may result in additional legal costs to
the Fund. 
  

	 	(d)	Errors of Others. GFS shall not be liable for the errors of other service providers to the Trust, except or unless any GFS action or inaction is a direct cause of the error. 

 

	 	(e)	Reliance on Electronic Instructions. If the Trust has the ability to originate electronic instructions to GFS in order to (i) effect the transfer or movement of cash or Shares or (ii) transmit
Shareholder information or other information, then in such event GFS shall be entitled to rely on the validity and authenticity of such instruction without undertaking any further inquiry as long as such instruction is undertaken in conformity with
security procedures established and agreed upon by GFS and the Fund’s investment adviser. 

  
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	 	(f)	Notification of Claims. In order that the indemnification provisions contained in this Section shall apply, upon the assertion of a claim for which either party may be required to indemnify the other, the party
seeking indemnification shall promptly notify the other party of such assertion, and shall keep the other party advised with respect to all developments concerning such claim. The party who may be required to indemnify shall have the option to
participate with the party seeking indemnification in the defense of such claim or to defend against said claim in its own name or in the name of the other party. The party seeking indemnification shall in no case confess any claim or make any
compromise in any case in which the other party may be required to indemnify it except with the other party’s prior written consent. 

  

	 	(g)	Notwithstanding any other provision of this Agreement, GFS’s maximum liability to the Trust or any applicable Fund arising out of the transactions contemplated hereby, whether arising in contract, tort (including,
without limitation, negligence) or otherwise, shall not exceed the direct loss to the Trust or such Fund (as applicable). IN NO EVENT SHALL EITHER PARTY BE LIABLE FOR TRADING LOSSES, LOST REVENUES, SPECIAL, INCIDENTAL, INDIRECT, CONSEQUENTIAL OR
EXEMPLARY DAMAGES OR LOST PROFITS, WHETHER OR NOT SUCH DAMAGES WERE FORESEEABLE OR IF EITHER PARTY HERETO WAS ADVISED OF THE POSSIBILITY THEREOF. THE PARTIES ACKNOWLEDGE THAT THE OTHER PARTS OF THIS AGREEMENT ARE PREMISED UPON THE LIMITATION STATED
IN THIS SECTION. 

  

	5.	LIMITATION OF SHAREHOLDER AND TRUSTEE LIABILITY 

 The Board and the shareholders of each
Fund shall not be liable for any obligations of the Trust or of the Funds under this Agreement, and GFS agrees that, in asserting any rights or claims under this Agreement, it shall look only to the assets and property of the Fund (or Funds) to
which GFS’s rights or claims relate in settlement of such rights or claims, and not to the Board or the shareholders of the Funds. It is expressly agreed that the obligations of the Trust hereunder shall not be binding upon any of the trustees,
shareholders, nominees, officers, agents or employees of the Trust personally, but bind only the trust property of the Trust, as provided in the Trust’s Organizational Documents. The execution and delivery of this Agreement have been authorized
by the Board of the Trust and signed by the officers of the Trust, acting as such, and neither such authorization by the Board and shareholders nor such execution and delivery by such officers shall be deemed to have been made by any of them
individually or to impose any liability on any of them personally, but shall bind only the property of the Trust as provided in its Declaration of Trust. A copy of the Agreement and Declaration of Trust of the Trust is on file with the Secretary of
State of Delaware. 
  

	6.	EXPENSES ASSUMED BY THE TRUST 

 Except as otherwise specifically stated in this
Agreement, GFS shall pay all expenses incurred by it in performing the Services under this Agreement. Each Fund of the Trust will bear reasonable out-of-pocket expenses incurred by GFS under this Agreement and all other reasonable expenses incurred
in the operation of the Fund (other than those borne by the investment adviser to the Fund) including, but not limited to: 

  
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	 	(a)	taxes; 

  

	 	(b)	interest; 

  

	 	(c)	brokerage fees and commissions, if any; 

  

	 	(d)	fees for trustees who are not officers, directors, partners, employees or holders of five percent (5%) or more of the outstanding voting securities of the investment adviser or GFS; 

 

	 	(e)	SEC fees (including EDGAR filing fees); 

  

	 	(f)	state blue sky registration or qualification fees; 

  

	 	(g)	advisory fees; 

  

	 	(h)	charges of custodians; 

  

	 	(i)	transfer and dividend disbursing agents’ fees; 

  

	 	(j)	insurance premiums; 

  

	 	(k)	outside auditing and legal expenses; 

  

	 	(l)	costs of maintaining trust existence; 

  

	 	(m)	costs attributable to shareholder services, including, without limitation, telephone and personnel expenses; 

  

	 	(n)	costs of preparing and printing prospectuses for regulatory purposes; 

  

	 	(o)	costs of shareholders’ reports, Trust meetings and related expenses; 

  

	 	(p)	Trust legal fees; and 

  

	 	(q)	any extraordinary expenses. 

  

	7.	REPRESENTATIONS AND WARRANTIES 

  

	 	(a)	Representations of GFS. GFS represents and warrants to the Trust that: 

  

	 	(i)	it is a limited liability company duly organized and existing and in good standing under the laws of the State of Nebraska; 

  

	 	(ii)	it is empowered under applicable laws and by its organizational documents to enter into this Agreement and perform its duties under this Agreement; 

 

	 	(iii)	it has access to the necessary facilities, equipment, and personnel to perform its duties and obligations under this Agreement; and 

  

	 	(iv)	it is registered as a transfer agent under Section 17A of the Securities Exchange Act of 1934, as amended, and shall continue to be registered throughout the remainder of this Agreement. 

 

	 	(b)	Representations of the Trust. The Trust represents and warrants to GFS that: 

  

	 	(i)	it is a trust duly organized, validly existing and in good standing under the laws of the State of Delaware; 

  

	 	(ii)	it is empowered under applicable laws and by its Organizational Documents to enter into and perform this Agreement; 

  
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	 	(iii)	all proceedings required by said Organizational Documents have been taken to authorize it to enter into and perform this Agreement; 

  

	 	(iv)	reserved; 

  

	 	(v)	reserved; 

  

	 	(vi)	a registration statement under the Securities Act of 1933 is currently effective and will remain effective, and appropriate state securities law filings as required, have been or will be made and will continue to be
made, with respect to all Shares of the Fund being offered for sale; and 

  

	 	(vii)	each Fund’s Organizational Documents, Registration Statement and Prospectus are true and accurate and will remain true and accurate at all times during the term of this Agreement in conformance with applicable
federal and state securities laws. 

  

	8.	CONFIDENTIALITY 

 GFS and the Trust agree that all books, records, information, and data
pertaining to the business of the other party which are exchanged or received pursuant to the negotiation or the carrying out of this Agreement shall remain confidential, and shall not be voluntarily disclosed to any other person, except that GFS
may: 
  

	 	(a)	prepare or assist in the preparation of periodic reports to shareholders and regulatory bodies such as the SEC; 

  

	 	(b)	provide information typically supplied in the investment company industry to companies that track or report price, performance or other information regarding investment companies; and 

 

	 	(c)	release such information as permitted or required by law or approved in writing by the Trust, which approval shall not be unreasonably withheld and may not be withheld where GFS may be exposed to civil or criminal
liability or proceedings for failure to release the information, when requested to divulge such information by duly constituted authorities or when so requested by the Trust and the advisers. 

Except as provided above, in accordance with Title 17, Chapter II, part 248 of the Code of Federal Regulations (17 CFR 248.1-248.30) (“Reg S-P”),
GFS will not directly, or indirectly through an affiliate, disclose any non-public personal information as defined in Reg S-P, received from a Fund to any person that is not affiliated with the Fund or with GFS and provided that any such information
disclosed to an affiliate of GFS shall be under the same limitations on non-disclosure. 
 Both parties agree to communicate sensitive information via
secured communication channels (i.e., encrypted format). 

  
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	9.	PROPRIETARY INFORMATION 

  

	 	(a)	Proprietary Information of GFS. The Trust acknowledges that the databases, computer programs, screen formats, report formats, interactive design techniques, and documentation manuals maintained by GFS on
databases under the control and ownership of GFS or a third party constitute copyrighted, trade secret, or other proprietary information (collectively, “GFS Proprietary Information”) of substantial value to GFS or the third party. The
Trust agrees to treat all GFS Proprietary Information as proprietary to GFS and further agrees that it shall not divulge any GFS Proprietary Information to any person or organization except as may be provided under this Agreement. 

 

	 	(b)	Proprietary Information of the Trust. GFS acknowledges that the Shareholder list and all information related to shareholders furnished to GFS by the Trust or by a shareholder in connection with this Agreement
(collectively, “Customer Data”) all information regarding the Trust portfolios, arrangements with brokerage firms, compensation paid to or by the Trust, trading strategies and all such related information (collectively, Trust Proprietary
Information”) constitute proprietary information of substantial value to the Trust. In no event shall GFS Proprietary Information be deemed Trust Proprietary Information or Customer Data. GFS agrees to treat all Trust Proprietary Information
and Customer Data as proprietary to the Trust and further agrees that it shall not divulge any Trust Proprietary Information or Customer Data to any person or organization except as may be provided under this Agreement or as may be directed by the
Trust or as may be duly requested by regulatory authorities. 

  

	 	(c)	Each party shall take reasonable efforts to advise its employees of their obligations pursuant to this Section 9. The obligations of this section shall survive any earlier termination of this Agreement.

  

	10.	ADDITIONAL FUNDS AND CLASSES 

 In the event that the Trust establishes one or more series
of Shares or one or more classes of Shares (each a “Share Class”) after the effectiveness of this Agreement, such series of Shares or classes of Shares, as the case may be, shall become Funds and classes under this Agreement with necessary
changes made to Appendix II; however, either GFS or the Trust may elect not to make any such series or classes subject to this Agreement. 
  

	11.	ASSIGNMENT AND SUBCONTRACTING 

 This Agreement shall extend to and shall be binding upon
the parties hereto and their respective successors and assigns; provided, however, that written notice is provided to the other party and this Agreement shall not be assignable by the Trust without the prior written consent of GFS. GFS may
subcontract any or all of its responsibilities pursuant to this Agreement to one or more companies, trusts, firms, individuals or associations, which may or may not be affiliated persons of GFS and which agree to comply with the terms of this
Agreement; provided, however, that GFS provides written notice of such subcontract and further that any such subcontracting shall not relieve GFS of its responsibilities hereunder or its liability related thereto. GFS may pay such
persons for their services, but no such payment will increase fees due from the Trust hereunder. 

  
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	12.	EFFECTIVE DATE, TERM AND TERMINATION 

  

	 	(a)	Effective Date. This Agreement shall become effective upon the date first above written (the “Effective Date”). 

  

	 	(b)	Term. This Agreement shall remain in effect for a period of three (3) years from the Effective Date and shall continue in effect for successive twelve-month periods thereafter provided that such continuance
is specifically approved at least annually by a majority of the Board. 

  

	 	(c)	Termination. This Agreement can be terminated at the end of the initial term or subsequent renewal period upon one hundred eighty (180) days’ prior written notice by either party. Upon termination of
this Agreement, GFS shall have no further obligation to provide Services to the terminating Fund(s) and all outstanding payments due from such Fund(s) under this Agreement shall become immediately due and payable to GFS, including any unpaid fees
earned through the date of termination and the balance of all future minimum fees due under the remaining term of this Agreement. In the event of termination, GFS agrees that it will cooperate to facilitate the smooth transition of services and to
minimize disruption to a Fund and its shareholders. Notwithstanding the foregoing, either party may terminate this Agreement upon thirty (30) days’ written notice in the event of a breach. The parties have a right to attempt to cure a
breach within the thirty-day notice period. In any event, this Agreement can be terminated with respect to a particular Fund or Funds at any time upon thirty (30) days’ prior written notice if the Board makes a determination to liquidate
such Fund(s). 

  

	 	(d)	Reimbursement of GFS’s Expenses. If this Agreement is terminated with respect to a Fund or Funds, GFS shall be entitled to collect from the Fund or Funds or the Company, in addition to the compensation
described under Section 3 of this Agreement, the amount of all of GFS’s reasonable labor charges and cash disbursements for services in connection with GFS’s activities in effecting such termination, including, without
limitation, the labor costs and expenses associated with the de-conversion of the Trust’s records of each Fund from its computer systems, and the delivery to the Trust and/or its designees of the Trust’s property, records, instruments and
documents, or any copies thereof. GFS agrees that such amount shall not exceed $1,000. Subsequent to such termination, for a reasonable fee, GFS will provide the Trust and the Company with reasonable access to all Trust documents or records, if any,
remaining in its possession. 

  

	 	(e)	Survival of Certain Obligations. The obligations of Sections 3, 4, 8, 9, and 12 shall survive any termination of this Agreement. 

 

	13.	MISCELLANEOUS 

  

	 	(a)	Amendments. This Agreement may not be amended, or any provision hereof waived, except in writing signed by the party against which the enforcement of such amendment or waiver is sought. 

 

	 	(b)	Governing Law. This Agreement shall be construed and the provisions thereof interpreted under and in accordance with the laws of the State of New York. 

  
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	 	(c)	Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto and supersedes any prior agreement with respect to the subject matter hereof whether oral or written.

  

	 	(d)	Counterparts. The parties may execute this Agreement on any number of counterparts, and all of the counterparts taken together shall be deemed to constitute one and the same instrument. 

 

	 	(e)	Severability. If any part, term or provision of this Agreement is held to be illegal, in conflict with any law or otherwise invalid, the remaining portion or portions shall be considered severable and not be
affected by such determination, and the rights and obligations of the parties shall be construed and enforced as if the Agreement did not contain the particular part, term or provision held to be illegal or invalid. 

 

	 	(f)	Force Majeure. Neither party shall be liable for failure to perform if the failure results from a cause beyond its control, including, without limitation, civil disturbances or disorders, terrorist acts, strikes,
acts of governmental authority or new governmental restrictions, or acts of God. 

  

	 	(g)	Headings. Section and paragraph headings in this Agreement are included for convenience only and are not to be used to construe or interpret this Agreement. 

 

	 	(h)	Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be delivered by hand or by overnight, registered or certified mail, postage prepaid, or by facsimile to
each party at the address set forth below or at such new address designated by such party by notice given pursuant to this Section. 

  

					
		 	 To the Trust:
  

Equinox Frontier Funds
 1775 Sherman Street, Suite 2010

Denver, CO 80203
 Attention: Bob Enck; Vance Sanders

Email: benck@equinoxllc.com;

vsanders@equinoxllc.com
	  	 To GFS:
  

Gemini Fund Services, LLC
 17605 Wright Street, Suite 2

Omaha, NE 68130
 Attention: Legal Department

Email: kevinw@geminifund.com

  

	 	(i)	Safekeeping. GFS shall establish and maintain facilities and procedures reasonably acceptable to the Trust for the safekeeping and control of records maintained by GFS under this Agreement including the
preparation and use of check forms, facsimile, email or other electronic signature imprinting devices. 

  

	 	(j)	Distinction of Funds. Notwithstanding any other provision of this Agreement, the parties agree that the assets and liabilities of each Fund of the Trust are separate and distinct from the assets and liabilities
of each other Fund and that no Fund shall be liable or shall be charged for any debt, obligation or liability of any other Fund, whether arising under this Agreement or otherwise. 

  
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	 	(k)	Representation of Signatories. Each of the undersigned expressly warrants and represents that they have full power and authority to sign this Agreement on behalf of the party indicated and that their signature
will bind the party indicated to the terms hereof. 

 Signature Page Follows 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed in their
names and on their behalf by and through their duly authorized persons, effective as of the day and year first above written. 
  

									
	EQUINOX FRONTIER FUNDS	 		 	GEMINI FUND SERVICES, LLC
					
	By:	 	  
	 		 	By:	 	  

		 	Robert Enck	 		 		 	Kevin Wolf
		 	Title: President & CEO, Equinox Fund Management, LLC, Managing Owner of Equinox Frontier Funds	 		 		 	Title: President

  
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 APPENDIX I 

Transfer Agency Services 
 With respect to
each Fund electing Transfer Agency Services, GFS shall provide the following services subject to, and in compliance with the objectives, policies and limitations set forth in the Fund’s Registration Statement, the Trust’s Organizational
Documents, applicable laws and regulations, and resolutions and policies established by the Trust’s Board: 
  

	1)	Provide the services of a transfer agent, dividend disbursing agent and, as relevant, agent in connection with accumulation, open-account or similar plans (including without limitation any periodic investment plan or
periodic withdrawal program) that are customary for publicly-offered commodity pools including: 

  

	 	a.	maintaining all shareholder accounts; 

  

	 	b.	preparing shareholder meeting lists; 

  

	 	c.	preparing and certifying direct shareholder lists in conjunction with proxy solicitations; 

  

	 	d.	preparing periodic mailing of year-end tax and statement information; 

  

	 	e.	mailing shareholder reports and prospectuses to current shareholders; 

  

	 	f.	withholding taxes on U.S. resident and non-resident alien accounts; 

  

	 	g.	preparing and filing U.S. Treasury Department Form K-1s and other appropriate forms required by federal authorities with respect to distributions for shareholders; 

 

	 	h.	preparing and mailing confirmation forms and statements of account to shareholders for all purchases and redemptions of Shares and other confirmable transactions in shareholder accounts; and 

 

	 	i.	providing account information in response to inquiries from shareholders. 

  

	2)	Receiving for acceptance, orders for the purchase of Shares, and promptly delivering payment and appropriate documentation therefore to the Custodian of the Fund authorized by the Board (the “Custodian”); or,
in the case of a Fund operating in a master-feeder or fund of funds structure, to the transfer agent or interest-holder record keeper for the master portfolios in which the Fund invests; 

 

	3)	Pursuant to purchase orders, issue the appropriate number of Shares and hold such Shares in the appropriate shareholder account; 

  

	4)	Receiving for acceptance, redemption requests and redemption directions and delivering the appropriate documentation therefore to the Custodian or, in the case of a Fund operating in a master-feeder or fund of funds
structure, to the transfer agent or interest-holder record keeper for the master portfolios in which the Fund invests; 

  

	5)	As and when the Fund receives monies paid to it by the Custodian with respect to any redemption, paying over or cause to be paid over the redemption proceeds as required by the Prospectus pursuant to which the redeemed
Shares were offered and as instructed by the redeeming shareholders; 

  

	6)	Effecting transfers of Shares upon receipt of appropriate instructions from shareholders; 

  
 Appendix I | 1 

	7)	Monitoring and making appropriate filings with respect to the escheatment laws of the various states and territories of the United States; 

 

	8)	Preparing and transmitting to shareholders (or crediting the appropriate shareholder accounts) payments for all distributions and dividends declared by the Trust with respect to Shares of each Fund; 

 

	9)	Receiving from shareholders and/or debiting shareholder accounts for sales commissions, including contingent deferred, deferred and other sales charges, and service fees (i.e., wire redemption charges) and
prepare and transmit payments to underwriters, selected dealers and others for commissions and service fees received and provide necessary tracking reports to the Fund’s and/or the Fund’s principal underwriter; 

 

	10)	Recording the issuance of shares of a Fund and maintaining pursuant to SEC Rule 17Ad-10(e) a record of the total number of shares of the Fund which are authorized, based upon data provided to it by the Fund, issued and
outstanding; and 

  

	11)	Providing the Trust on a regular basis with each Fund’s total number of shares that are authorized and issued and outstanding. 

Issuance of Shares. 

GFS, in its capacity as transfer agent, shall make original issues of Shares of each Fund in accordance with the Fund’s Prospectus, only upon receipt of:

  

	 	a.	instructions requesting the issuance, 

  

	 	b.	a properly completed subscription agreement; and 

  

	 	c.	necessary funds for the payment of any original issue tax applicable to such Shares. 

 The responsibility of
GFS for each Fund’s state registration status is solely limited to the reporting of transactions to the Trust, and GFS shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares or to take cognizance
of any laws relating to the issue or sale of such Shares, which functions shall be the sole responsibility of the Fund, its distributor or other agent. 

Transfer of Shares. 

Transfers of Shares of each Fund shall be registered on the shareholder records maintained by GFS. In registering transfers of Shares, GFS may rely upon the
Uniform Commercial Code as in effect in the State of Nebraska or any other statutes that, in the opinion of GFS’s legal counsel, protect GFS and the Trust from liability arising from: 

 

	 	a.	not requiring complete documentation; 

  

	 	b.	registering a transfer without an adverse claim inquiry; 

  

	 	c.	delaying registration for purposes of such inquiry; or 

  

	 	d.	refusing registration whenever an adverse claim requires such refusal. 

 As transfer agent, GFS will be
responsible for delivery to the transferor and transferee of such documentation as is required by the Uniform Commercial Code. 

  
 Appendix I | 2 

 Purchase Orders. 

Shares shall be issued in accordance with the terms of the Prospectus after GFS or its agent receives either: 

 

	 	a.	an instruction directing investment in a Fund, a check (other than a third-party check) or a wire or other electronic payment in the amount designated in the instruction and in the case of an initial purchase, a
completed account application; or 

  

	 	b.	the information required for purchases pursuant to a selected dealer agreement, processing organization agreement, or a similar contract with a financial intermediary. 

Distribution Eligibility. 
 Shares issued in
a Fund after receipt of a completed purchase order shall be eligible to receive distributions of the Fund at the time specified in the prospectus pursuant to which the Shares are offered. 

Determination of Federal Funds. 

Shareholder payments shall be considered “Federal Funds” no later than on the day indicated below unless other times are noted in the Prospectus:

  

	 	a.	for a wire received, at the time of the receipt of the wire; 

  

	 	b.	for a check drawn on a member bank of the Federal Reserve System, on the second Fund Business Day following receipt of the check; and 

 

	 	c.	for a check drawn on an institution that is not a member of the Federal Reserve System, at such time as GFS is credited with Federal Funds with respect to that check. 

Lost Shareholders. 

GFS shall perform such services as are required in order to comply with Rules 17a-24 and 17Ad-17 (the “Lost Shareholder Rules”) of the Securities
Exchange Act of 1934, including, but not limited to, those set forth below. GFS may, in its sole discretion and at its own expense, use the services of a third party to perform some of or all such services. 

 

	 	a.	documentation of search policies and procedures; 

  

	 	b.	execution of required searches; 

  

	 	c.	tracking results and maintaining data sufficient to comply with the Lost Shareholder Rules; and 

  

	 	d.	preparation and submission of data required under the Lost Shareholder Rules. 

 Anti-Money Laundering
(“AML”) Delegation. 
 The Trust hereby delegates to GFS certain AML duties under this Agreement, as permitted by law and in accordance
with the Trust’s Anti-Money Laundering Policies and Procedures as may be amended from time to time. Such duties delegated to GFS include procedures reasonably designed to prevent and detect money laundering activities and to ensure that each
Fund can have a reasonable belief that it knows the identity of each person or entity opening an account with the Fund. GFS’s procedures will include, as appropriate, procedures to assist the Fund(s) to: 

  
 Appendix I | 3 

	 	•	 	detect and report suspicious activities; 

  

	 	•	 	comply with “know your customer” requirements; 

  

	 	•	 	monitor high-risk accounts; and 

  

	 	•	 	maintain required records. 

 GFS shall provide for proper supervision and training of its personnel. With
respect to assisting the Trust with its Customer Identification Program (“CIP”) designed to ensure the identity of any person opening a new account with a Fund (a “Customer”), GFS will assist the Fund(s) through the use of the
following: 
  

	 	•	 	risk-based procedures to verify the identity of each Customer to the extent reasonable and practicable, such that the Fund may have a reasonable belief that it knows the true identity of each Customer;

  

	 	•	 	before opening an account, obtain a Customer’s name, date of birth (for an individual), address, and identification number1; 

 

	 	•	 	procedures to verify the identity of a Customer within a reasonable time after the account is opened; 

  

	 	•	 	procedures for maintenance of records relating to Customer identification and supporting the verification; and 

  

	 	•	 	procedures to determine whether the Customer’s name appears on any list of known or suspected terrorists or terrorist organizations issued by any federal government agency and designated as such by the Department
of the Treasury in consultation with the federal functional regulators, within a reasonable period of time after the account is opened. 

 For
purposes of verifying the identity of a Customer, GFS may rely on documents, so long as, based on that information, GFS can form a reasonable belief that it knows the identity of the Customer, including: 

 

	 	•	 	an individual’s unexpired government-issued identification evidencing nationality or residence and bearing a photograph or similar safeguard, (such as a driver’s license or passport); or 

 

	 	•	 	documents showing the existence of an entity, such as articles of incorporation, a government-issued business license, a partnership agreement, or trust instrument. 

To the extent that the Customer’s identity cannot be verified by relying on documents, other methods may be used by GFS, including, (i) contacting a
Customer; (ii) independently verifying the Customer’s identity through the comparison of information provided by the Customer with information obtained from a consumer reporting agency, public database, or other source; (iii) checking
references with other financial institutions; and (iv) obtaining a financial statement. 
 In the event that GFS is not able to verify the identity of
a Customer sufficiently that it can form a reasonable belief that it knows the true identity of a Customer, then GFS may, as appropriate: 

 

	1 	An identification number may be a taxpayer identification number, passport number and country of issuance, alien identification card number, or number and country of issuance of any other government-issued document
evidencing nationality or residence and bearing a photograph or similar safeguard. 

  
 Appendix I | 4 

	 	•	 	not open an account for the Customer; 

  

	 	•	 	apply limited terms under which a Customer may use an account until the Customer’s identity is verified; 

  

	 	•	 	close an account, after attempts to verify a Customer’s identity have failed; or 

  

	 	•	 	assist the Fund in filing a Suspicious Activity Report in accordance with applicable law and regulation, regarding the Customer. 

Each Fund represents and agrees that it will provide Customers with adequate notice that the Fund is requesting information to verify their identities. The
notice will be included in the application or the prospectus, or a document accompanying the application or prospectus provided it is reasonably designed to ensure that the customer views or otherwise receives the notice before opening the account.
In consideration of the performance of the duties by GFS pursuant to this Section, the Trust agrees to pay GFS for the reasonable administrative expenses that may be associated with such additional duties. 

Anti-Identity Theft Delegation. 
 To the
extent that a Fund has covered accounts that allow redemption proceeds to go to third parties, GFS will assume Anti-Identity Theft monitoring duties for the Fund under this Agreement, pursuant to legal requirements. Any out of pocket expenses
occurred in this regard are due and payable by the Fund. 
 Transfer Agency Records. 

GFS shall maintain the following shareholder account information: 
  

	 	•	 	name, address and United States Tax Identification or Social Security number; 

  

	 	•	 	number of Shares held and number of Shares for which certificates, if any, have been issued, including certificate numbers and denominations; 

 

	 	•	 	historical information regarding the account of each shareholder, including dividends and distributions paid and the date and price for all transactions on a shareholder’s account; 

 

	 	•	 	any stop or restraining order placed against a shareholder’s account; 

  

	 	•	 	any correspondence relating to the current maintenance of a shareholder’s account; 

  

	 	•	 	information with respect to withholdings; and 

  

	 	•	 	any information required in order for GFS to perform any calculations by this Agreement. 

 All out-of-pocket
expenses will be billed as set forth on Appendix II. GFS may from time to time adopt new procedures, or modify existing procedures, in order to carry out its Transfer Agency Services. Any modification of the Transfer Agency Services provided by GFS
as set forth in this Appendix I shall be delivered to the Trust in writing and subject to agreement by the Trust. 

  
 Appendix I | 5 

 APPENDIX II 

LIST OF FUNDS 

SERVICES & FEES 
 This Appendix
II is part of the Fund Services Agreement (the “Agreement”) between Equinox Frontier Funds and Gemini Fund Services, LLC. Set forth below are the Services elected by the Fund(s) identified on this Appendix II along with the
associated Fees. 
 COVERED FUNDS 
 The Funds to
be covered under this Agreement include: 
  

			
		 	Fund Name
		 	 Equinox Frontier Masters Fund
 Equinox Frontier
Diversified Fund
 Equinox Frontier Long/Short Commodity Fund

Equinox Frontier Balanced Fund (Closed)
 Equinox Frontier Select
Fund (Closed)
 Equinox Frontier Heritage Fund (Closed)
 Equinox
Frontier Long/Short Commodity Fund, Classes 2 and 3 (Closed)
 Equinox Frontier Winton Fund (Closed)

 The Funds listed above are collectively referred to as a “Fund Family”. 

SELECTED SERVICES and FEES 
 The Fund(s) shall pay
to GFS the following fees: (all basis point fees will be calculated based upon the average net assets of the Fund for the previous month). 
 Transfer
Agency Fees 
  

	1.	The base annual fee* shall be the greater of: 

 $            per Fund, per Share Class; 

or 

 $            annual fee per open account 

($            annual fee per closed account). 

 

	*	The base annual fee shall be waived for the first three (3) months of this Agreement. 

  

	2.	General Activity Charges: 

  

			
	Customer Service Calls	  	$            per call
	Manual Transactions	  	$            per transaction

  
 Appendix II | 1 

					
	                New Account Opening (manual)	  	$            per account	  	
	                New Account Opening (electronic)	  	$            per account	  	
	                Incoming IRA Transfer from prior custodian	  	$            per transfer	  	
	                IRA Transfer to successor custodian	  	$            per transfer	  	
	                Refund of Excess Contribution	  	$            per refund	  	
	                Distribution to IRA Participant	  	$            per distribution	  	

  

	 	☐	Check this box to elect 24 Hour Automated Voice Response 

  

							
	         24 Hour Automated Voice Response Charges:
	  		  		  	
				
	 Initial set-up (one-time) charge
	  	$            per Fund Family	  		  	
	 Monthly charge
	  	$            per Fund	  		  	

  

	3.	Web Package Fees: 

  

	 	☐	Check this box for Shareholder Desktop Web Package (described below) 

$            initial installation charge 

$            annual maintenance fee (invoiced annually in advance) 

 

	 	☐	Check this box for Shareholder Desktop Online New Accounts (described below) 

$            initial set-up charge 

$            per new account charge 

 

	 	☐	Check this box for Fund Data Web Package (described below) 

$            initial installation charge 

$            annual maintenance fee (invoiced annually in advance) 

 

	4.	Additional Charges: 

  

	 	a.	De-Conversion fee. Each Fund shall pay a record data de-conversion fee in the amount of $            upon a cancellation or termination of this
Agreement by such Fund or the Trust for any reason other than liquidation of a Fund. No de-conversion fee will be charged in connection with a cancellation or termination of this Agreement by GFS, unless GFS shall have terminated this Agreement
because of a breach of this Agreement by the Trust. 

 Special Reports/Programming Fees 

All special reports analyses and/or programming requested by a Fund or the Trust under this Agreement shall be subject to an additional programming charge,
agreed upon in advance, based upon the following rates: 
  

							
	 GFS Senior & MIS Staff
	  	$            per hour	 		 	
	 GFS Junior Staff
	  	$            per hour	 		 	

  
 Appendix II | 2 

 Out-of-Pocket Expenses 

The Trust shall reimburse GFS for all out-of-pocket expenses incurred by GFS when performing Services under this Agreement, including, but not limited to, the
following: 
  

			
	 •    Anti-ID Theft Monitoring
	  	 •    Pro rata portion of SSAE 16 review

	 •    Bank Account and other Bank Fees
	  	 •    Proxy Services

	 •    Customer Identification/AML Program Costs
	  	 •    Record Storage

	 •    Fund Stationery and Supplies
	  	 •    Regulatory fees and assessments

	 •    Locating Lost Shareholders/Escheatment Costs
	  	 •    State and Federal filing fees and assessments

	 •    NSCC Charges
	  	 •    Tax Reporting

	 •    Postage
	  	 •    Telephone and Toll Free Lines

	 •    Pre and Post Sale Fulfillment
	  	 •    Travel Requested by the Trust

	 •    Printing Fund Documents
	  	

 Signature Page Follows 

  
 Appendix II | 3 

 IN WITNESS WHEREOF, the parties hereto have executed this Appendix II to the Fund
Services Agreement effective as of             , 2016. 
  

									
	EQUINOX FRONTIER FUNDS	 		 	GEMINI FUND SERVICES, LLC
					
	By:	 	  
	 		 	By:	 	  

		 	Bob Enck	 		 		 	Kevin Wolf
		 	Title: President & CEO, Equinox Fund Management, LLC, Managing Owner of Equinox Frontier Funds	 		 		 	Title: President

 The undersigned managing owner of the series of the Equinox Frontier Funds statutory trust (“Managing Owner”)
hereby acknowledges and agrees to the terms of the Agreement and further acknowledges and agrees that: 
 (1) GFS expends substantial time and
money, on an ongoing basis, to recruit and train its employees; (2) GFS’s business is highly competitive and is marketed throughout the United States, and (3) if the Managing Owner were to hire any GFS employees who are involved in
the procurement of the Services under this Agreement then GFS may suffer lost sales and other opportunities and would incur substantial time and money in hiring and training replacement(s) for those employees. Accordingly, the Managing Owner agrees
that it, including its respective affiliates and subsidiaries, shall not solicit, attempt to induce or otherwise hire an employee of GFS for so long as this Agreement is in effect and for a period of two (2) years after termination of this
Agreement, unless expressly agreed upon in writing by both parties. In the event that this provision is breached by the Managing Owner, the Managing Owner agrees to pay damages to GFS in the amount of the current annual salary of such employee or
former employee. For purposes of this provision, “hire” means to employ as an employee or to engage as an independent contractor, whether on a full-time, part-time or temporary basis. 

EQUINOX FUND MANAGEMENT, LLC 
  

							
	By:	 	  
	  		  	
		 	 Bob Enck
 Title:
President & CEO, Equinox Fund Management, LLC, Managing Owner of Equinox Frontier Funds

  
 Appendix II | 4 

 Shareholder Desktop Web Package 

Proprietary Secure Web-Based Direct Interface With Transfer Agent Data 

Supports Five Levels of Access 
  

	 	•	 	Fund Administrator 

  

	 	•	 	Broker/Dealer 

  

	 	•	 	Broker/Dealer Branch 

  

	 	•	 	Registered Representative 

  

	 	•	 	Shareholder 

 Customizable Look And Feel (Logo And Color Scheme) 

Account Inquiry 
  

	 	•	 	Portfolio Summary 

  

	 	•	 	Account Position 

  

	 	•	 	Transaction History 

  

	 	•	 	General Account Information 

 Online Transactions (Must have this reflected in the prospectus to
offer this functionality) 
  

	 	•	 	Exchanges 

  

	 	•	 	Purchases 

  

	 	•	 	Redemptions 

  

	 	•	 	Prospectus and SAI Access 

 Account Maintenance 

 

	 	•	 	Change of Shareholder Information 

  

	 	•	 	Address 

  

	 	•	 	Phone Number 

  

	 	•	 	Email Address 

 Online Statement Access 

 

	 	•	 	Quarterly Statements and Confirms 

  

	 	•	 	Electronic Delivery (Should have this reflected in the prospectus and application to offer this functionality) 

  

	 	•	 	Statements 

  

	 	•	 	Confirms 

  

	 	•	 	Regulatory Mailings 

 SHAREHOLDER DESKTOP
ONLINE NEW ACCOUNTS 
  

	 	•	 	Allows clients the ability to set up a new account online if they provide valid ACH information and agree to all disclaimers and agreements on site. 

 

	 	•	 	E-Signature capability 

  
 Appendix II | 5 

 FUND DATA WEB
PACKAGE 
 Performance Web Page 

 

	 	•	 	Comprehensive performance report hosted by GFS 

  

	 	•	 	Fund performance updated nightly 

  

	 	•	 	Up to 20 indexes available 

  

	 	•	 	Data provided in simple format to be encapsulated into Fund’s own website to provide a custom look and feel 

  

	 	•	 	Growth of $10,000 graph available 

 Holdings web page 

 

	 	•	 	Fund holding updated periodically to meet fund disclosure rules hosted by GFS 

  

	 	•	 	Fund holding updated periodically to meet fund disclosure rules 

  

	 	•	 	Top ten report available 

  

	 	•	 	Data provided in simple format to be encapsulated into Fund’s own website to provide a custom look and feel 

Historical NAV web page 
  

	 	•	 	Provides historical NAV information for a specified period of time and for a specified fund 

  

	 	•	 	Data provided in simple format to be encapsulated into Fund’s own website to provide a custom look and feel 

Fulfillment web page 
  

	 	•	 	Provides an online request form for shareholders who wish to request a hard copy of the fulfillment material mailed to them 

  

	 	•	 	Request is automatically routed online to the Shareholder Services Team at GFS for processing 

  

	 	•	 	Reporting of Fulfillment requests made online or via phone available via GFS Reporting Services Tool. 

 GFS
reporting utilizes the next generation secure web-based report delivery vehicle which allows for direct request or subscription based delivery reports available in multiple formats (PDF, Excel, XML, CSV) 

  
 Appendix II | 6 

 EXHIBIT I 

AUTHORIZED PERSON(S) 

(Oral and Written Instructions) 
 The
following officers and/or employees of Equinox Fund Management, LLC (“Managing Owner”) have been duly authorized by Equinox Frontier Funds (the “Trust”), to deliver certificates and oral instructions to Gemini Fund Services, LLC
(“GFS”), on behalf of the separate series of the Trust, pursuant to the Fund Services Agreement between GFS and the Trust, made             , 2016, and that the signatures
appearing opposite their names are true and correct: 
  

					
	 Authorized Person(s)
	  	 Title(s)
	  	 Signature(s)

			
	 Bob Enck
	  	President & CEO	  	  

			
	 Ajay Dravid
	  	Managing Director of Portfolio Strategy	  	  

			
	 Rufus Rankin
	  	Director of Portfolio Management	  	  

			
	 Mallika Cheruvu
	  	Senior Analyst	  	  

			
	 Vance Sanders
	  	Chief Financial Officer	  	  

			
	 John Cook
	  	Senior Fund Analyst	  	  

			
	 David Drakulich
	  	Director of Financial Reporting	  	  

  
 Exhibit I | 1EX-10.3

 Exhibit 10.3 

FORM OF ADMINISTRATIVE SERVICES AGREEMENT 

THIS ADMINISTRATIVE SERVICES AGREEMENT (this “Agreement”) is made as of this
                    , 2016, by and between Gemini Hedge Fund Services, LLC, a Nebraska limited liability company having its principal office and
place of business at 17605 Wright Street, Omaha, Nebraska 68130 (“GHFS”), and Equinox Fund Management, LLC, a Delaware limited liability company having its principal office and place of business at 1775 Sherman Street, Suite 2010,
Denver, CO 80203 (“Company”), on its own behalf and on behalf of the Funds (as hereinafter defined). 
 W I T N E S S E T H :

 WHEREAS, Company is the managing owner of the series of the Equinox Frontier Funds statutory trust identified on Exhibit A
hereto, as may be amended from time to time (each, a “Fund” and collectively, the “Funds”); 
 WHEREAS, the Company
desires to retain GHFS to provide the Funds with the various services described herein and GHFS is willing to provide such services, all as more fully set forth below; 

NOW THEREFORE, in consideration of the mutual promises and agreements contained herein, the parties hereby agree as follows: 

1. Definitions. 

Whenever used in this Agreement, unless the context otherwise requires, the following words shall have the meanings set forth below: 

“Authorized Person” shall mean, with respect to each Fund, each person, whether or not an officer or employee of such Fund, duly
authorized by Company in writing to give instructions on behalf of such Fund as set forth in Exhibit B hereto. The persons set forth in Exhibit B may be changed only in writing substantially in the form of Exhibit B actually received and
acknowledged by GHFS. 
 “Confidential Information” shall have the meaning given in Section 5(n) of this Agreement. 

“Control” (including the terms “controlling,” “controlled by” and “under common control with”) shall
mean the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person whether through the ownership of voting securities, by contract, or otherwise. 

“GHFS Affiliate” shall mean any person or entity that directly, or indirectly through one or more intermediaries, controls or is
controlled by, or is under common control with, Gemini Hedge Fund Services, LLC. 
 “Interests” shall mean the record and
beneficial ownership interests of each Fund offered to such Fund’s Subscribers. 

 “Net Assets” shall mean total assets less total liabilities, including unrealized
profits and losses on open positions, accrued income and expense, calculated in accordance with generally accepted accounting principles as more fully described in each Fund’s Offering Materials. 

“Offering Materials” shall mean, with respect to each Fund, any and all offering materials used to offer or sell securities of such
Fund, including, by way of example and without limitation, documents in the nature of those described in Exhibit C hereto. 

“Organizational Documents” shall mean with respect to the Company and each Fund, its certificate of incorporation, certificate of
formation or organization, certificate of limited partnership, memorandum of association, bylaws, limited partnership agreement, membership agreement, shareholder agreement, operating agreement, articles of association, limited liability company
agreement, voting agreement, or similar documents of formation or organization. 
 “Subscriber” shall mean a person or entity
subscribing to purchase, or already owning any Interests. 
 2. Appointment. 

The Company hereby appoints GHFS for the term of this Agreement to perform the services described herein for and on behalf of the Funds. GHFS
hereby accepts such appointment and agrees to perform the duties hereinafter set forth. 
 3. Representations and Warranties. 

The Company hereby represents and warrants to GHFS, which representations and warranties shall be deemed to be continuing, that: 

(a) It is duly organized and existing under the laws of the jurisdiction of its organization, with full power to carry on its business as now
conducted, to enter into this Agreement on its own behalf and for and on behalf of each of the Funds and to perform its obligations hereunder; 

(b) Each Fund is duly organized and existing under the laws of the jurisdiction of its organization, with full power to carry on its business
as now conducted and to perform its obligations hereunder; 
 (c) This Agreement has been duly authorized, executed and delivered by the
Company on its own behalf and for and on behalf of each of the Funds in accordance with all requisite limited liability company/limited partnership/exempted company action and the Organizational Documents of the Company and each Fund, and
constitutes a valid and legally binding obligation of the Company and each Fund, enforceable in accordance with its terms; 
 (d) The
Company and each Fund are conducting their business in compliance with all applicable laws and regulations, and have obtained all regulatory licenses, approvals and consents necessary to carry on its business as now conducted; there is no statute,
regulation, rule, 

  
 2 

 
order or judgment binding on any of them and no provision of their Organizational Documents nor of any mortgage, indenture, credit agreement or other contract binding on them or affecting their
property that would prohibit their execution or performance of this Agreement; and 
 (e) Each person named on Exhibit B hereto is duly
authorized by the Company to be an Authorized Person hereunder. 
 4. Certain Duties of the Company and the Funds. 

(a) Each Fund shall be solely responsible for accurately and timely supplying GHFS with complete financial and other information relating to
such Fund in order to enable GHFS to provide the services set forth on Schedule I. 
 (b) The Company, on behalf of each Fund acknowledges
that GHFS is not a public accounting or auditing firm, it is not a fiduciary of a public accounting or auditing firm, and does not provide public accounting or auditing services or advice. 

(c) Each Fund, and not GHFS, shall pay all brokerage commissions, margins, option premiums, interest charges, floor commissions and fees, and
other transaction costs and expenses charged and incurred by broker-dealers and/or futures commission merchants and their agents for and on behalf of such Fund. 

(d) The Company has provided GHFS with copies of all Organizational Documents of the Funds and all filings relating to the organization of the
Funds (excluding any state blue sky or securities laws filings) required to be filed by the Funds with an official body or office. 
 (e)
Each Fund shall deliver, or cause to be delivered from time to time, to GHFS the Fund’s Offering Materials and other materials used in the distribution of the Interests of such Fund and all amendments thereto, and such resolutions, votes and
other proceedings as may be necessary for GHFS to perform its duties hereunder. GHFS shall not be deemed to have notice of any information (other than information supplied by GHFS) contained in such materials (including the Offering Materials) until
they are actually received by GHFS. 
 (f) Each Fund shall use its reasonable efforts to cause its Authorized Persons, distributor, legal
counsel, independent accountant, previous administrator (if any) and transfer agent (if other than GHFS) to cooperate with GHFS and to provide GHFS, upon request, with such information, documents and advice relating to such Fund as is within the
possession or knowledge of such persons, in order to enable GHFS to perform its duties hereunder. In connection with its duties hereunder, GHFS shall be entitled to rely, and shall be held harmless by the Company and each Fund when acting in
reasonable reliance upon, such written information, advice or documents provided to GHFS by any of the aforementioned persons. GHFS shall not be liable for any loss, damage or expense resulting from or arising out of the failure of any Fund to cause
any information, documents or advice to be provided to GHFS as provided herein. All fees or costs charged by such persons shall be borne by the applicable Fund or the Company. 

  
 3 

 (g) The Company and each Fund shall treat as confidential the terms and conditions of this
Agreement and shall not disclose or authorize disclosure thereof to any other person, except: (i) to its employees, regulators, examiners, internal and external accountants, auditors, and counsel, (ii) for a description of this Agreement
in the Offering Materials with the prior written approval of GHFS not to be unreasonably withheld, (iii) to any other person when required by a court order or legal process, or (iv) when advised by its counsel that it would be liable for a
failure to make such disclosure. The Company and each Fund shall instruct its employees, regulators, examiners, internal and external accountants, auditors, and counsel who may be afforded access to such information of its obligations of
confidentiality hereunder. 
 (h) The Company and each Fund shall promptly notify GHFS in writing (or cause GHFS to be so notified) of any
and all legal proceedings or securities investigations filed or commenced against the Company or any Fund, of which the Company or such Fund has become aware. 

5. Duties and Obligations of GHFS. 

(a) Subject to the direction and control of the Company and each Fund (as applicable) and the terms and conditions of this Agreement, GHFS
shall provide each Fund with the services set forth in Schedule I. 
 (b) Except to the extent otherwise indicated on Schedule I, GHFS shall
not provide any services relating to the investment management, management, investment advisory or sub-advisory functions of any Fund, distribution of Interests, or services normally performed by a Fund’s counsel or independent auditors. 

(c) Upon receipt of a Fund’s prior written consent (which shall not be unreasonably withheld), GHFS may delegate any of its duties and
obligations hereunder with respect to such Fund to any delegate or agent whenever and on such terms and conditions as it deems necessary or appropriate. Notwithstanding the foregoing, such Fund’s consent shall not be required for any such
delegation to any GHFS Affiliate notwithstanding the domicile of such GHFS Affiliate, but GHFS shall consult with such Fund prior to any such delegation where GHFS deems such consultation appropriate. GHFS shall not be liable for any loss, damage or
expense incurred as a result of errors or omissions of any delegate or agent which was and the terms and conditions of whose appointment were specifically authorized by a Fund; provided that, GHFS shall be liable for the acts or omissions of any
GHFS Affiliate to the same extent it would be liable under the terms hereof had it committed such act or omission and not delegated the same to such GHFS Affiliate. 

(d) GHFS shall, as agent for each Fund, maintain and keep current the books, accounts and other documents, if any, listed in Schedule I. Such
books, accounts and other documents shall be made available upon reasonable request for inspection by officers, employees and auditors of the applicable Fund during GHFS’ normal business hours, and shall be preserved for a period equal to the
longer of the time required by applicable SEC rules and regulations or five (5) years after termination of this Agreement, unless earlier surrendered to such Fund pursuant to Section 5(e). To the extent permitted by and consistent with
applicable requirements of any laws, rules and regulations applicable to any Fund, the Company or GHFS, any such books or records may be maintained in the form of electronic media and stored on any magnetic disk or tape or similar recording method.

  
 4 

 (e) All records maintained and preserved by GHFS in hard copy pursuant to this Agreement shall be
and remain the property of the applicable Fund and shall be surrendered to such Fund promptly upon request in the form in which such records have been maintained and preserved. Upon reasonable request of a Fund and payment of a reasonable fee
specified by GHFS, GHFS shall provide in hard copy or electronic format any records included in any such delivery which are maintained by GHFS in the form of electronic media and stored on any magnetic disk or tape or similar recording method, and
such Fund shall reimburse GHFS for its expenses incurred in providing such records. 
 (f) Each Fund shall furnish GHFS with any and all
instructions, explanations, information specifications and documentation reasonably deemed necessary by GHFS in the performance of its duties hereunder, including the amounts or written formula for calculating the amounts and times of accrual of
such Fund’s liabilities and expenses. GHFS shall not be required to include as a Fund’s liabilities and expenses, nor as a reduction of Net Assets, any accrual for any income taxes unless such Fund shall have specified to GHFS the precise
amount of the same to be included in liabilities and expenses or used to reduce Net Assets. GHFS shall endeavor to determine the value of securities owned by a Fund in the manner described in its Offering Materials. At any time and from time to
time, the Fund may, if consistent with and to the extent permitted by its Offering Materials, furnish GHFS with bid, offer, or market values of securities and instruct GHFS to use such information in its calculations hereunder. GHFS shall at no time
be required or obligated to commence or maintain either any utilization of, or subscriptions to, any securities pricing or similar service or any arrangements with any brokers, dealers or market makers or specialists described in any Offering
Materials. 
 (g) In the event GHFS’ computations hereunder rely, in whole or in part, upon information, including (i) bid, offer
or market values of securities or other assets, or accruals of interest or earnings thereon, from a pricing or similar service utilized, or subscribed to, by GHFS which GHFS, in its judgment, deems reliable, or (ii) prices or values supplied by
the Fund or by its brokers, dealers, market makers, or specialists described in the Offering Materials, GHFS shall not be responsible for, have any duty to inquire into, or be deemed to make any assurances with respect to, the accuracy or
completeness of such information. GHFS shall not be required to inquire into any valuation of securities or other assets by a Fund or any third party described above, even though GHFS in performing services similar to the services provided pursuant
to this Agreement for others may receive different valuations of the same or different securities of the same issuers. GHFS, in performing the services required of it under the terms of this Agreement, shall not be responsible for determining
whether any interest accruable to a Fund is or will be actually paid, but will accrue such interest until otherwise instructed by such Fund. 

(h) The method of valuation of securities and the method of computing the Net Assets of each Fund shall be as set forth in the then currently
effective Offering Materials of such Fund. To the extent the description of the valuation methodology of securities or computation of Net Assets as specified in a Fund’s then currently effective Offering Materials is at any time inconsistent
with any applicable laws or regulations, such Fund shall immediately so notify GHFS in writing and thereafter shall either furnish GHFS at all appropriate times with the 

  
 5 

 
values of such securities and Net Assets, or subject to the prior approval of GHFS, instruct GHFS in writing as to the appropriate valuation methodology to be employed by GHFS to compute Net
Assets in a manner that such Fund then represents in writing to be consistent with all applicable laws and regulations. A Fund also may, from time to time, subject to the prior approval of GHFS, instruct GHFS in writing to compute the value of the
securities or Net Assets in a manner other than as specified in this Agreement. By giving such instruction, a Fund shall be deemed to have represented that such instruction is consistent with all applicable laws and regulations and the then
currently effective Offering Materials. 
 (i) GHFS, in performing the services required of it under the terms of this Agreement, shall be
entitled to rely fully on the accuracy and validity of any and all instructions, explanations, information, specifications and documentation furnished it on behalf of the Funds and shall have no duty or obligation to review the accuracy, validity or
propriety of such instructions, explanations, information, specifications or documentation, including the amounts or formula for calculating the amounts and times of accrual liabilities and expenses; and the amounts receivable and the amounts
payable on the sale or purchase of securities. 
 (j) GHFS may apply to an Authorized Person of a Fund for written instructions with respect
to any matter arising in connection with GHFS’ performance hereunder, and GHFS shall not be liable for any action taken or omitted to be taken by it in good faith without gross negligence or willful misconduct in accordance with such
instructions. Such application for instructions may, at the option of GHFS, set forth in writing any action proposed to be taken or omitted to be taken by GHFS with respect to its duties or obligations under this Agreement and the date on and/or
after which such action shall be taken. GHFS shall not be liable for any action taken or omitted to be taken in accordance with a proposal included in any such application on or after the date specified therein unless, prior to such date for taking
or omitting to take any such action, GHFS has received written instructions from an Authorized Person in response to such application specifying the action to be taken or omitted. 

(k) With the prior consent of a Fund, GHFS may consult with counsel to such Fund or its own counsel, at such Fund’s expense, regarding
matters related to such Fund and shall be fully protected with respect to anything done or omitted by it in good faith in accordance with the advice or opinion of such counsel. 

(l) GHFS shall provide the “GHFS Anti-Money Laundering Services” described in Schedule II, subject to the terms and conditions of
this Agreement and the following additional terms and conditions: 
 (i) GHFS confirms that, in performing its services hereunder, it shall
comply with applicable anti-money laundering laws and regulations and shall take such actions as are required by such regulations in connection with its performance hereunder. GHFS does not warrant that (x) its performance of the GHFS
Anti-Money Laundering Services will achieve any particular intended result or (y) that it will detect all possible instances of money laundering or transactions involving money laundering or other unlawful activities. GHFS MAKES NO OTHER
WARRANTIES, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. 

  
 6 

 Each Fund shall provide its subscription agreement to GHFS a reasonable time before accepting any initial payment
from a Subscriber, and shall not accept any such payment unless and until GHFS has completed the GHFS Anti-Money Laundering Services with respect to each Subscriber. GHFS may assume the authenticity and accuracy of any document provided by a
Subscriber without verification unless, in the sole discretion of GHFS, the same on its face appears to not be genuine. In the event of a delay or failure by the Subscriber to produce any information required by the subscription agreement or by GHFS
in providing the GHFS Anti-Money Laundering Services, GHFS may refuse to accept the subscription and the subscription monies related thereto or may refuse to allow a redemption or to pay repurchase proceeds to a Subscriber. In the event any initial
payment from a Subscriber is sent to an account other than an account of a Fund maintained at a GHFS Affiliate, the applicable Fund shall (A) promptly notify GHFS of the receipt of such payment, (B) not invest such payment until GHFS has
completed the GHFS Anti-Money Laundering Services with respect to such Subscriber, and (C) indemnify and hold GHFS harmless in accordance with the terms of this Agreement with respect to any such payment that is invested prior to GHFS’
completion of the GHFS Anti-Money Laundering Services and acceptance of the subscription therefor. 
 (ii) GHFS shall provide its
Anti-Money Laundering Services for all direct subscription accounts and such other accounts where the beneficial owner is known to GHFS. On a quarterly basis, GHFS shall cross-check known customer names with a list of known or suspected terrorists
or terrorist organizations as issued by any federal government agency and designated as such by the Department of the Treasury. 
 (iii)
GHFS shall provide prompt notice to a Fund of any potential Subscriber to such Fund with respect to whom GHFS has anti-money laundering concerns based on the performance of the GHFS Anti-Money Laundering Services. 

(iv) GHFS is providing the GHFS Anti-Money Laundering Services based on the representation and warranty of each Fund, which shall be deemed
continued and repeated on each day on which GHFS provides such services to such Fund, that the GHFS Anti-Money Laundering Services together with the activities of such Fund in accordance with its internal policies, procedures and anti-money
laundering controls shall together satisfy all the requirements of the laws with respect to money laundering applicable to GHFS and such Fund. 

(v) Upon request, GHFS shall provide to a Fund a written summary of GHFS’ anti-money laundering compliance procedures applicable to its
performance of the GHFS Anti-Money Laundering Services. A Fund may request at any time, and GHFS will deliver upon request, a status report with respect to such Fund’s compliance with AML requirements and any reportable exceptions. 

(m) GHFS shall have no duties or responsibilities whatsoever including any custodial duties, except such duties and responsibilities as are
specifically set forth in this Agreement, including Schedules I and II, or as are otherwise required of GHFS by laws or regulations applicable to GHFS, and no covenant or obligation shall be implied against GHFS in connection with this Agreement.

  
 7 

 (n) GHFS agrees to treat as confidential information all accounting and Subscriber information
and other business records of the Company and the Funds, including any information relating to any investments of the Company or the Funds, disclosed to GHFS in connection with its provision of services pursuant to the terms of this Agreement (all
such information, the “Confidential Information”). Notwithstanding the foregoing, GHFS may disclose the Confidential Information to such of GHFS’ employees, delegees, agents, service providers, and to GHFS Affiliates who need to know
the Confidential Information in connection with GHFS’ provision of services hereunder so long as the same have been informed of and have agreed to abide by the confidentiality provisions of this Agreement. In addition, GHFS may disclose the
Confidential Information as required by any regulatory, self-regulatory, or supervisory authority having appropriate jurisdiction over GHFS. In the latter case, GHFS shall provide the Company, to the extent it is lawfully permitted to do so, with
notice of any such request so that the Company (on its own behalf or on behalf of any Fund, as applicable) may seek an appropriate protective order or other appropriate remedy and/or waive compliance with the provisions of this Agreement. In the
event such protective order or other remedy is not obtained prior to the date such disclosure is required, or in the event that a waiver is granted, GHFS may furnish that portion (and only that portion) of the Confidential Information that, in the
opinion of its counsel, GHFS is legally compelled to disclose under penalty of law. In such case, GHFS shall exercise reasonable efforts to obtain assurance that confidential treatment will be afforded any Confidential Information so furnished.
Confidential Information shall not include any information that (i) is or becomes public knowledge through no act or omission of the receiving person, (ii) is publicly disclosed by the Company, any Fund or any Subscriber, or (iii) is
otherwise obtained from third parties not known by GHFS to be bound by a duty of confidentiality. Notwithstanding anything herein to the contrary, GHFS shall have the right to mine, utilize, distribute, sell, share or market aggregated or compiled
statistical information obtained or developed by it in the performance of its duties hereunder, as long as it does so in a manner that does not reveal or disclose any information that is identifiable with, or specific or attributable to, the
Company, any Fund or any Subscriber. 
 (o) GHFS will take reasonable precautions to ensure the security of Subscriber records and
information and electronic storage and transmission thereof, protect against any anticipated threats or hazards to the security or integrity of such records or information, and protect against unauthorized access to or use of such records or
information that would result in substantial harm or inconvenience to any Subscriber and will maintain reasonable procedures to detect and respond to any internal or external security breaches. GHFS will monitor and review its procedures
periodically and revise them, as necessary, to ensure they appropriately address any reasonably foreseeable risks. 
 (p) GHFS may utilize
systems and/or software designed, and databases provided by certain third parties. In providing the services hereunder, GHFS is authorized to utilize any vendor (including pricing and valuation services) reasonably believed by GHFS to be reliable.

 (q) GHFS shall make reasonable provisions for emergency use of electronic data processing equipment to the extent appropriate equipment
is available and, in the event of equipment failures, GHFS shall, at no additional expense to the Company or the Funds, take reasonable steps to minimize service interruption. 

  
 8 

 (r) In performance of its duties under this Agreement, GHFS shall act in conformity with the each
Fund’s Organizational Documents and Offering Materials and applicable laws and regulations. 
 (s) GHFS shall cooperate with the
Company in the performance of its services and duties with respect to the Funds. GHFS acknowledges that the Funds may engage one or more other service providers in respect of other services for the Funds and agrees to reasonably cooperate with such
service providers as designated by the Company from time to time. GHFS shall provide to the Company such information maintained by GHFS pursuant to this Agreement as may be required for such parties to satisfy its obligations to the Funds. 

6. Allocation of Expenses. 

(a) Except as otherwise provided herein, all costs and expenses arising or incurred in connection with the performance of this Agreement shall
be paid by each Fund or the Company, including, but not limited to, any organizational costs and costs of maintaining the Fund’s existence, taxes, interest, brokerage fees and commissions, insurance premiums compensation and expenses of the
Fund’s employees, legal, accounting, and audit expenses, management, advisory, sub-advisory, administration and services fees, charges of custodians, transfer and disbursing agents expenses (including clerical expenses) incident to the
issuance, cancellation, repurchase or redemption of Interests, fees and expenses incident to the registration or qualification of Interests under applicable securities laws, costs (including printing and mailing costs) of preparing and distributing
Offering Materials, reports, notices and proxy material, if any, to the owners of Interests, all expenses incidental to holding annual or other meetings, if any, and extraordinary expenses as may arise, including litigation affecting such Fund and
legal obligations relating thereto. 
 (b) GHFS shall be reimbursed by each Fund or the Company for all reasonable out-of-pocket expenses
(such as telephone, facsimile, photocopy, overnight courier and messenger charges, postage, etc.) incurred in connection with the performance by GHFS of its duties hereunder, as well as any fees, costs and expenses permitted to be procured for such
Fund by GHFS pursuant to this Agreement. GHFS shall supply supporting expense documentation to a Fund if so requested and to the extent such documentation is available. For the avoidance of doubt, and without intending to limit the foregoing, the
parties hereby specifically agree that GHFS shall be reimbursed by each Fund for any costs incurred by GHFS in procuring pricing information with respect to any portfolio securities of such Fund. 

  
 9 

 7. Standard of Care; Indemnification. 

(a) Except as otherwise provided herein, GHFS shall not be liable for any costs, expenses, damages, liabilities or claims (including
reasonable and documented fees of one external counsel and accountant) resulting from, arising out of, or in connection with its performance hereunder, except those costs, expenses, damages, liabilities or claims arising out of GHFS’ or any
GHFS Affiliate’s bad faith, gross negligence or willful misconduct. In no event shall any party hereto be liable for special, indirect or consequential damages, or lost profits or loss of business resulting from, arising out of, or in
connection with its performance hereunder, even if previously informed of the possibility of such damages and regardless of the form of action. 

(b) Without limiting the generality of the foregoing, GHFS shall not be responsible for any loss, damage or expense suffered by the Company or
any Fund arising from any one or more of the following: 
 (i) Errors in records or instructions, explanations, information, specifications
or documentation of any kind, as the case may be, including any valuations or prices of securities or specification of Net Assets, supplied to GHFS by, or on behalf of, the Company or any Fund; 

(ii) Any failure by GHFS to receive any instruction (whether oral, written or by email, facsimile or other electronic transmission), record,
explanation, information, specifications or documentation, including any failure to receive any application or other document from a Subscriber (other than any such failure caused by any action or omission of GHFS); 

(iii) Any improper use by the Company, any Fund or any agents or distributors of any Fund, of any valuations or computations supplied by GHFS
in accordance with its standard of care under this Agreement; or 
 (iv) The method of valuation of the securities and the method of
computing Net Assets, as set forth in any Offering Materials or as directed by the Company or any Fund, and if the Offering Materials so indicate, the value of Net Assets per Interest. 

(c) Notwithstanding any other provision contained in this Agreement, GHFS shall have no duty or obligation with respect to, including any duty
or obligation to determine, or advise or notify the Company or any Fund of: (i) the taxable nature of any distribution or amount received or deemed received by, or payable to, a Fund; (ii) the taxable nature or effect on a Fund or its
Subscribers of any corporate actions, class actions, tax reclaims, tax refunds, or similar events; (iii) the taxable nature or taxable amount of any distribution or dividend paid, payable or deemed paid, by a Fund to its Subscribers; or
(iv) the effect under any income tax laws of a Fund making or not making any distribution, dividend payment, or election with respect thereto. 

(d) Actions taken or omitted in reliance on instructions (whether oral, written or by email, facsimile or other electronic transmission), or
upon any information, order, indenture, power of attorney, assignment, affidavit or other instrument reasonably believed by GHFS to be from an Authorized Person, or upon the opinion of legal counsel for the Company or any Fund, shall be conclusively
presumed to have been taken or omitted in good faith. 

  
 10 

 (e) The Company and each Fund shall indemnify and hold harmless GHFS and any GHFS Affiliate from
and against any and all costs, expenses, damages, liabilities and claims (including claims asserted by the Company or any Fund), and reasonable and documented fees of one external counsel and accountant relating hereto, which are sustained or
incurred or which may be asserted against GHFS or any GHFS Affiliate, by reason of or as a result of any action taken or omitted to be taken by GHFS or any GHFS Affiliate hereunder without bad faith, gross negligence, or willful misconduct, or in
reliance upon: (i) any Offering Materials (excluding information provided by GHFS), (ii) any instructions (whether oral, written or by email, facsimile or other electronic transmission) of a person reasonably believed to be an Authorized
Person, or (iii) any opinion of the legal counsel for the Company or any Fund or GHFS, or arising out of transactions or other activities of the Company or any Fund that occurred prior to the commencement of this Agreement; provided,
that neither GHFS nor any GHFS Affiliate shall be entitled to indemnification hereunder for costs, expenses, damages, liabilities or claims arising out of its own gross negligence, bad faith or willful misconduct. This indemnity shall be a
continuing obligation of the Company and each Fund, and their respective successors and assigns, notwithstanding the termination of this Agreement. 

8. Compensation. 
 In
consideration of the services to be rendered by GHFS under this Agreement, the Funds shall pay GHFS a fee in accordance with Exhibit D hereto. 

9. Effective Date; Term; and Termination. 

(a) This Agreement shall become effective on the date first above written; provided, however, that with respect to each Fund, the effective
date of this Agreement shall be the date on which GHFS begins providing services to such Fund. 
 (b) This Agreement shall remain in effect
for a period of three (3) years from the applicable effective date (i.e., the date first above written or, with respect to any Fund, the date on which GHFS begins providing services to such Fund) and shall continue in effect for successive
one-year periods unless earlier terminated. 
 (c) This Agreement may be terminated by any party hereto for any reason upon written notice
of termination delivered to the other party. Any notice of termination delivered pursuant to this Section 9(c) shall specify the date of termination, which date shall not be less than one hundred eighty days (180) days after the date of
the giving of such notice. Additionally, this Agreement may be terminated by any party at any time if another party commits a material breach of its obligations under this Agreement and fails to cure such breach within thirty (30) days of
receipt of written notice served by a non-breaching party specifying in reasonable detail the nature of such breach. Notwithstanding the foregoing, this Agreement shall immediately terminate with respect to any Fund upon liquidation of the Fund.

 (d) Upon termination of this Agreement, other than a termination of this Agreement by the Company or any Fund resulting from GHFS’
failure to cure a breach within 

  
 11 

 
the applicable cure period, the Funds shall pay to GHFS: (i) if terminated within twelve (12) months of the applicable effective date, the total fees which would have been payable
through the first twelve (12) months if this Agreement were not terminated, and (ii) if terminated after the first twelve (12) months of the applicable effective date, such compensation as may be due as of the date of such
termination. In each case, the Funds shall reimburse GHFS for any reasonable disbursements and reasonable expenses made or incurred by GHFS and payable or reimbursable hereunder and for work done or services provided by GHFS after the termination
date. 
 (e) Upon termination and settlement of all amounts due under this Agreement, including unpaid compensation due pursuant to
Section 8 and amounts due pursuant to Section 9(d), GHFS shall, at the expense of the Fund or the Company, return to the Fund any Confidential Information provided by the Fund to GHFS pursuant to this Agreement. Notwithstanding the
foregoing, GHFS may retain such Confidential Information as it may be required by law to retain and/or which is automatically archived as part of GHFS’ electronic back-up system, provided such Confidential Information is not available for
general access and it remains subject to the obligations of confidentiality hereunder. 
 10. Force Majeure. 

No party hereto shall be responsible or liable for any failure or delay in the performance of its obligations under this Agreement arising out
of or caused, directly or indirectly, by circumstances beyond its reasonable control, including acts of God; acts of war or terrorism; earthquakes; fires; floods; wars; civil or military disturbances; sabotage; epidemics; riots; acts of civil or
military authority or governmental actions; it being understood that each party shall use its best efforts to resume performance as soon as practicable under the circumstances. 

11. Amendment. 
 This
Agreement may not be amended or modified in any manner except by a written agreement executed by each of the parties hereto. 
 12.
Assignment. 
 This Agreement shall extend to and shall be binding upon the parties hereto, and their respective successors and
assigns; provided, however, that this Agreement shall not be assignable by any party hereto without the written consent of the other parties hereto, which consent shall not be unreasonably withheld, provided that notwithstanding the foregoing GHFS
may assign all or any portion of this Agreement to any GHFS Affiliate. 
 13. Governing Law; Consent to Jurisdiction. 

This Agreement shall be construed in accordance with the laws of New York, without regard to conflict of laws principles thereof. The parties
to this Agreement hereby consent to the jurisdiction of a court situated in New York in connection with any dispute arising hereunder. THE PARTIES TO THIS AGREEMENT EACH HEREBY IRREVOCABLY WAIVE ANY AND ALL RIGHTS TO TRIAL BY JURY IN ANY LEGAL
PROCEEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT. TO THE EXTENT THAT IN 

  
 12 

 
ANY JURISDICTION THE PARTIES TO THIS AGREEMENT MAY NOW OR HEREAFTER BE ENTITLED TO CLAIM, FOR ITSELF OR ITS ASSETS, IMMUNITY FROM SUIT, EXECUTION, ATTACHMENT (BEFORE OR AFTER JUDGMENT) OR OTHER
LEGAL PROCESS, THE PARTIES TO THIS AGREEMENT IRREVOCABLY AGREE NOT TO CLAIM AND THEY HEREBY WAIVE, SUCH IMMUNITY. 
 14. Intentionally
Omitted. 
 15. Severability. 

In case any provision in or obligation under this Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the validity,
legality and enforceability of the remaining provisions or obligations shall not in any way be affected or impaired thereby, and if any provision is inapplicable to any person or circumstances, it shall nevertheless remain applicable to all other
persons and circumstances. 
 16. No Waiver. 

The rights granted to the parties hereunder or under any other document delivered hereunder or in connection herewith, or allowed them by law
or equity, shall be cumulative and may be exercised from time to time. No failure on the part of a party to exercise, and no delay on the part of a party in exercising, any right will operate as a waiver thereof, nor will any single or partial
exercise by a party of any right preclude any other or future exercise thereof or the exercise of any other right. 
 17.
Non-Exclusiveness. 
 No provision of this Agreement shall prevent GHFS from offering services similar or identical to those covered
by this Agreement to any other corporations, associations or entities of any kind. Any and all operational procedures, techniques and devices developed by GHFS in connection with the performance of its duties and obligations under this Agreement,
including those developed in conjunction with the Company or any of the Funds, shall be and remain the property of GHFS, and GHFS shall be free to employ such procedures, techniques and devices in connection with the performance of any other
contract with any other person whether or not such contract is similar or identical to this Agreement. 
 18. Notices, Electronic
Communications. 
 (a) All notices required or permitted under this Agreement in writing shall be validly given or made in writing if
(i) personally delivered, (ii) delivered by reputable overnight courier delivery service or (iii) deposited in the mail, first class, postage prepaid, certified or registered, return receipt requested as follows: 

if to the Company or any Fund, at: 

Equinox Fund Management, LLC 

1775 Sherman Street, Suite 2010 

Denver, CO 80203 
 Attention: Bob
Enck; Vance Sanders 
 Email: benck@equinoxllc.com; vsanders@equinoxllc.com 

  
 13 

 if to GHFS, at: 

Gemini Hedge Fund Services, LLC 

17605 Wright Street, Suite 2 

Omaha, NE 68130 
 Attention: Legal
Department 
 legal@nstar-financial.com 
 or at
such place as may from time to time be designated in writing. Notices sent via mail shall be deemed given on the third business day following the day they are sent, notices sent via overnight carrier shall be deemed given on the business day
following the day they are sent, and notices delivered personally shall be deemed given on the day of confirmed receipt. 
 (b) The Company
and each Fund authorizes GHFS to (i) accept consents, approvals, waivers, requests, instructions and other communications GHFS receives from the Company or such Fund by email, facsimile or other electronic transmissions as if those
communications had been given personally in writing and signed by an Authorized Person; (ii) respond to consents, approvals, waivers, requests, instructions and other communications GHFS receives from the Fund by email, facsimile or other
electronic transmission; (iii) communicate with, and accept communications from, the Company or such Fund, its counsel, accountants, auditors, prime broker and other service providers, and Subscribers by means of email, facsimile or other
electronic transmission; and (iv) transmit and receive Confidential Information in connection with its performance hereunder by means of email, facsimile or other electronic transmission. In the absence of bad faith, gross negligence or willful
misconduct on the part of GHFS, GHFS shall not be liable to the Company or any Fund or any other person for any loss or damage suffered as a result of the Company’s or such Fund’s use of email, facsimile or other electronic transmission by
GHFS to transmit Confidential Information or communicate with the Company or such Fund or any other person, including any loss or damage resulting from or arising out of loss of data or malfunction of equipment or communications services in
connection with the transmission of such communications. In the event any instructions are given, whether upon application of GHFS or otherwise, by means of email, facsimile or other electronic transmission, GHFS is authorized to, but is not
obligated to, seek confirmation of such instructions by telephone call-back to an Authorized Person, and GHFS may rely upon, to the extent such reliance is reasonable, the confirmation of anyone purporting to be such Authorized Person. If GHFS
considers that any email, facsimile or other electronic communication may conflict with any other instructions from, or agreements with, the Company or any Fund, it may delay acting on such communication until confirmation by telephone call-back to
an Authorized Person. 
 19. Rules of Construction. 

All articles or section titles or captions in this Agreement shall be for convenience only, shall not be deemed part of this Agreement and
shall in no way define, limit, extend or describe the scope or intent of any provisions of this Agreement. Except as specifically provided 

  
 14 

 
otherwise, alphanumerical references to “Articles,” “Sections,” “Exhibits” and “Schedules” are to the respective articles and sections of, and exhibits and
schedules to, this Agreement. Whenever the context may require, any pronoun used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural; and
vice versa. The Schedules and Exhibits attached hereto are hereby incorporated herein and made a part of this Agreement. Any reference to such schedules and exhibits shall be to such schedules and exhibits as may be in effect from time to time and
shall include any amendments thereto. Whenever the word “including” is used herein, it shall be construed to mean “including without limitation.” 

20. Non-Solicitation. 

The Company acknowledges that (1) GHFS expends substantial time and money, on an ongoing basis, to recruit and train its employees;
(2) GHFS’s business is highly competitive and is marketed throughout the United States, and (3) if the Company were to hire any GHFS employees who are involved in the procurement of the services under this Agreement then GHFS may
suffer lost sales and other opportunities and would incur substantial time and money in hiring and training replacement(s) for those employees. Accordingly, the parties agree that the Company, including its respective affiliates and subsidiaries,
shall not solicit, attempt to induce or otherwise hire an employee of GHFS for so long as this Agreement is in effect and for a period of two (2) years after termination of this Agreement, unless expressly agreed upon in writing by both
parties. In the event that this provision is breached by the Company, the Company agrees to pay damages to GHFS in the amount of two times the current annual salary of such employee or former employee. For purposes of this provision,
“hire” means to employ as an employee or to engage as an independent contractor, whether on a full-time, part-time or temporary basis. 

21. Counterparts. 
 This
Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original; but such counterparts together shall constitute only one instrument. 

22. Representation of Signatories. 

Each of the undersigned expressly warrants and represents that they have full power and authority to sign this Agreement on behalf of the
party(ies) indicated and that their signature will bind the party(ies) indicated to the terms hereof. 
 Signature Page Follows 

  
 15 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their duly
authorized officers all as of the day and year first above written. 
  

					
	GEMINI HEDGE FUND SERVICES, LLC	  	
			
	By:	 	  
	  	
		 	Name: David Young	  	
		 	Title:   President	  	
		
	EQUINOX FUND MANAGEMENT, LLC	  	
	 (on its own behalf and on behalf of the Fund(s) identified on Exhibit A

hereto for which it is the managing owner)

			
	By:	 	  
	  	
		 	Name: Robert Enck	  	
		 	Title:   President & CEO	  	

  
 16 

 SCHEDULE I 

SERVICES 
 Gemini Hedge Fund
Services, LLC shall, in its capacity as administrator for the Funds, perform the following Services: 
  

	a)	Implementation Services: 

  

	 	(i)	Complete an operational review of the Fund’s Organizational Documents; 

  

	 	(ii)	Establish the Fund on our technology based on the specifications set forth in the Fund’s Organizational Documents, Prospective Client Questionnaire, etc.; 

 

	 	(iii)	Establish automated data feed between GFHS and the Fund as well as the Fund’s futures commission merchant/prime broker/custodian/bank to support reconciliation processes; 

 

	 	(iv)	Define reporting requirements and establish investor/client web portal; 

  

	 	(v)	Collect and load portfolio, financial, and investor data for the implementation “Commencement Date”; and 

  

	 	(vi)	GHFS does not audit or reprocess data for the time period previous to the Commencement Date. The data required to roll forward from the Commencement Date is loaded into our portfolio accounting system which includes,
but is not limited to: open positions, cash balances, general ledger balances, investor balances, and performance returns. GHFS will not provide reporting for periods before the Commencement Date. With the exception of certain YTD investor data,
GHFS does not load historical data from previous administrators. 

  

	b)	Middle & Back Office Services: 

  

	 	(i)	Daily processing of portfolio activity. Trades must be provided by (or on behalf of the Fund) in GHFS’ pre-defined format (by 4:30 p.m. EST). GHFS does not pass trade information or detail on the Fund’s behalf
to the Fund’s futures commission merchant or prime broker for any purpose (clearing, settlement, etc.). 

  

	 	(ii)	Daily reconciliation of cash and position (security level) with the Fund’s futures commission merchant/prime broker/custodian/bank on T + 1. It is the responsibility of the Fund to obtain an appropriate automated
electronic environment from the custodian for GHFS to complete this service. 

  

	 	(iii)	Daily pricing of exchange traded portfolio securities using third party pricing sources. GHFS does not perform valuation services and does not assume any responsibility related to the accuracy of security prices. Costs
related to third party pricing will be passed-through to the Fund. GHFS relies on the valuation policy in the Fund’s Organizational Documents. For non-exchange traded securities the Fund must use its best efforts to obtain third party pricing.
The third party will send the prices directly to GHFS. 

  
 Schedule I-1 

	 	(iv)	Daily coordination with Galaxy Plus portfolio. 

  

	c)	Subscriber Services: 

  

	 	(i)	Review subscription documents and check for accuracy and completeness; 

  

	 	(ii)	Process Subscriber transactions in accordance with the Fund’s Offering Materials; 

  

	 	(iii)	Perform the anti-money laundering (“AML”) services described in Schedule II and as required by applicable laws and regulations; 

 

	 	(iv)	Reconcile receipt and disbursement details of Subscriber cash activity; 

  

	 	(v)	Maintain Subscriber registry; 

  

	 	(vi)	Respond to Subscriber inquiries and distribute Fund related information to Subscribers via bulk email; and 

  

	 	(vii)	Coordinate with transfer agent on capital transactions. 

  

	d)	Reporting Services: All reporting is published electronically and can be delivered via email, FTP or secure web portal (custom report fees are detailed in Exhibit D). 

 

	 	(i)	Portfolio 

  

	 	(a)	Un-reconciled portfolio P&L and position report (Daily on T by 10:00 p.m. EST). 

  

	 	(b)	Cash & position reconciliations and break report (Daily on T+1). 

  

	 	(ii)	Financial 

  

	 	(a)	Financial statements: trial balance, income statement, balance sheet, partnership allocation (Monthly). 

  

	 	(b)	Daily bank account reconciliations and expense verification. 

  

	 	(c)	Daily general ledger accounting. 

  

	 	(d)	Daily production of a NAV closing package supported by a trial balance. 

  

	 	(e)	Daily calculation of NAV by series. 

  

	 	(iii)	Subscriber 

  

	 	(a)	Subscriber activity report (Monthly) 

  
 Schedule I - 2 

	 	(b)	Subscriber confirmation letters (Monthly) 

  

	 	(c)	Subscriber statements (Monthly) 

  

	 	(d)	Subscriber attribute reporting – accredited/qualified, ERISA %, new issue, fee overrides, etc. (Monthly) 

  

	 	(e)	Subscriber audit data report (Quarterly/Annual) 

  

	e)	Regulatory Filings: 

  

	 	(i)	In consultation with legal counsel for the Fund, assist in filing, printing, and where applicable, dissemination to Investors of required regulatory filings (e.g., Forms 10Q, 10K, and 424B3). 

 

	f)	Audit Support Services: 

  

	 	(i)	Acting as a liaison with each Fund’s independent public accountants, providing account analyses, fiscal year summaries, and other audit-related information with respect to each Fund and otherwise taking all
reasonable action in the performance of its duties under this Agreement consistent with the scope of such duties to ensure that the necessary information is made available to such accountants for the expression of their opinion, as required by each
Fund; and 

  

	 	(ii)	Subject to the approval of each Fund’s auditors and independent accountants, and review by the Fund’s managing owner, providing book allocations to such Fund’s auditors and independent accountants for use
in the preparation of and filing of any tax returns of such Fund to be prepared and filed by such Fund’s auditors and independent accountants. 

  
 Schedule I - 3 

 SCHEDULE II 

ANTI-MONEY LAUNDERING SERVICES 

In recognition of the importance of complying with the USA Patriot Act of 2001 and the regulations promulgated thereunder (collectively, the
“Patriot Act”), which impose anti-money laundering requirements on financial institutions, GHFS has developed and implemented a written anti-money laundering program (“Program”) designed to satisfy the requirements of the Patriot
Act. 
 1. Duties. GHFS will implement their Customer Identification Program, (“CIP”), designed to identify and verify persons seeking to open an
account with GHFS, to the extent reasonable and practicable. GHFS will maintain records of the information used to verify the person’s identity and determine whether the person appears on any lists of known or suspected terrorist or terrorist
organizations provided to GHFS by any government agency. 
 Duties include: 

a. Prior to opening a customer account or granting customers authority to effect transactions with respect to an account, GHFS shall obtain and
record, on behalf of the Fund, the following identifying information about each customer, at a minimum including: 
  

	 	i.	Name; 

  

	 	ii.	Date of birth, for a natural person; 

  

	 	iii.	Addresses, including 

  

	 	1.	residence or business street address or an Army Post Office or Fleet Post Office box number or residential or business street address of next of kin or other contact individual; or 

 

	 	2.	principal place of business local office or other physical location, for a person other than a natural person; and 

  

	 	iv.	Identification numbers: 

  

	 	1.	a taxpayer identification number from each customer that is a U.S. person; or 

  

	 	2.	 a taxpayer identification number, passport number and country of issuance, alien identification card number, or
number and country of issuance of any other government-issued document evidencing nationality or residence and bearing a photograph or similar safeguard from each customer that is not a U.S. person, except that the customer can provide this
information within a reasonable 

  
 Schedule II-1 

	 	
period of time after the account is established provided that the customer has applied for and can provide a copy of such application for the employer identification number prior to such time.

 b. GHFS must verify all the above stated forms of customer identification within a reasonable time after the account is
opened. Verification can occur through: 
 i. Documentation including: 

1. unexpired government-issued identification, such as a driver’s license or passport for individuals; and 

2. documents showing the existence of an entity, such as certified articles of incorporation, a government-issued business license, a
partnership agreement, or trust instrument for a person that is not an individual. 
 ii. When documentary verification fails for reasons,
including, but not limited to, GHFS not being familiar with the documents presented, no documentation is obtained by GHFS, or the customer does not open the account in person, GHFS may then verify customer identity via non-documentary methods
including: 
 1. directly contacting the customer; 

2. independent verification of the customer’s identity through comparison of information provided by customer with information obtained
from a consumer reporting agency, public database, or other source; 
 3. checking references with other financial institutions; and 

4. obtaining a financial statement. 

iii. When GHFS cannot verify the identity of a customer, who is not an individual, by documentary or non-documentary methods stated above, GHFS
shall obtain information about individuals with authority or control over such account, such as persons authorized to effect transactions in such account. 

c. GHFS must maintain records of all information obtained from customers to verify their identity, including at a minimum: 

i. All customer identification documentations obtained under paragraph 1(a). Such information must be retained by GHFS for five (5) years
after the date the account is closed; 

  
 Schedule II - 2 

 ii. A description of any documentary method used to verify identification, as set out in
paragraph b(i) above. GHFS must note the type of documents, any identification number in the document, place of issuance and date of issuance. Such information must be retained by GHFS for five (5) years after the record is made; 

iii. A description of the non-documentary methods, as set out in paragraph b(ii) above, and results of the measures GHFS took to verify the
identity of the customer. Such information must be retained by GHFS for five (5) years after the record is made; and 
 iv. A
description of how GHFS resolved any substantive discrepancy it discovered when verifying the customer identification information it received. Such information must be retained by GHFS for five (5) years after the record is made. 

v. Other exempt account information as specified by the rules. 

d. Within a reasonable time after GHFS opens a customer account, and preferably prior to opening the account, GHFS must make a determination as
to whether the customer appears on any list of known or suspected terrorists or terrorist organizations as issued by any federal government agency and designated as such by the Department of the Treasury. GHFS should make the determination by
cross-checking customer names with such lists. 
 e. Each Fund must post a notice on its website (if applicable) and its account applications
in an effort to give customers notice, prior to opening the account, that GHFS, on behalf of such Fund, is requesting information to verify the customer’s identity. The notice must generally describe the identification requirements. 

  
 Schedule II - 3 

 EXHIBIT A 

FUND(S) 
  

			
	 Managing Owner
	  	 Fund(s)

	 Equinox Fund Management, LLC
	  	Equinox Frontier Masters Fund
	 Equinox Fund Management, LLC
	  	Equinox Frontier Diversified Fund
	 Equinox Fund Management, LLC
	  	Equinox Frontier Long/Short Commodity Fund
	 Equinox Fund Management, LLC
	  	Equinox Frontier Balanced Fund (Closed to new investors)
	 Equinox Fund Management, LLC
	  	Equinox Frontier Select Fund (Closed to new investors)
	 Equinox Fund Management, LLC
	  	Equinox Frontier Heritage Fund (Closed to new investors)
	 Equinox Fund Management, LLC
	  	Equinox Frontier Long/Short Commodity Fund, Classes 2 and 3 (Closed to new investors)
	 Equinox Fund Management, LLC
	  	Equinox Frontier Winton Fund (Closed to new investors)

 EXHIBIT B 

AUTHORIZED PERSON(S) 

(Oral and Written Instructions) 
 The
following officers and/or employees of the Funds have been duly authorized by the Company, as managing owner of the Funds, to deliver certificates and oral instructions to GHFS, on behalf of the Fund(s), pursuant to the Administrative Services
Agreement between GHFS and the Company (on its own behalf and on behalf of the Funds), made                     , 2016, and that the signatures
appearing opposite their names are true and correct: 
  

					
	 Authorized Person(s)
	  	 Title(s)
	  	 Signature(s)

			
	 Bob Enck
	  	President & CEO	  	  

			
	 Ajay Dravid
	  	Managing Director of Portfolio Strategy	  	  

			
	 Rufus Rankin
	  	Director of Portfolio Management	  	  

			
	 Mallika Cheruvu
	  	Senior Analyst	  	  

			
	 Vance Sanders
	  	Chief Financial Officer	  	  

			
	 John Cook
	  	Senior Fund Analyst	  	  

			
	 David Drakulich
	  	Director of Financial Reporting	  	  

 EXHIBIT C 

OFFERING MATERIALS 
  

	 	•	 	Offering Memorandum 

  

	 	•	 	Subscription Documents 

  

	 	•	 	Organizational Documents 

 EXHIBIT D 

COMPENSATION 
 1. Base Fee
– Each Fund or the Company shall pay GHFS a fee as set forth in the following Fee Schedule: 
  

					
	 Fee Schedule:
	  	 	  	 
	 Fund(s)
	  	 Monthly Administration Fee*

	 •    Equinox Frontier Masters Fund

 
 •    Equinox Frontier
Diversified Fund
  

•    Equinox Frontier Long/Short Commodity Fund

 
 •    Equinox Frontier
Balanced Fund (Closed)
  

•    Equinox Frontier Select Fund (Closed)

 
 •    Equinox Frontier
Heritage Fund (Closed)
  

•    Equinox Frontier Long/Short Commodity Fund, Classes 2 and 3 (Closed)

 
 •    Equinox Frontier
Winton Fund (Closed)
	  	 The Monthly Administration Fee shall be an asset based fee based on the following schedule:

 

	  	 AUM (in millions)
	  	 Bps

	  	$0 - $50	  	
	  	$50 - $250	  	
	  	$250 - $500	  	
	  	Over $500	  	
	  	  

*  The Monthly Administration Fee shall be invoiced monthly. If GHFS renders services for a partial month,
the Monthly Administration Fee will be prorated accordingly.

	  		  	
	  		  	

 2. Parallel Testing Period – Initially, GHFS shall provide Services in parallel with the current fund
administrator, BNP Paribas Financial Services, LLC (“Parallel Period”). The Parallel Period shall continue until GHFS provides two consecutive months of daily NAV calculations for the Funds without any errors. 

3. Parallel Testing Period Payments – During the first month of the Parallel Period, GHFS shall receive no Monthly Administration Fee. For the
second month, provided that the preceding month did not result in any errors in daily NAV calculations by GHFS, GHFS shall receive 50% of the Monthly Administration Fee. For the third month, provided that the preceding month did not result in any
errors in daily NAV calculations by GHFS, GHFS shall receive 100% of the Monthly Administration Fee; however, if the second month daily NAV calculations resulted in any errors, GHFS shall receive only 50% of the Monthly Administration Fee. GHFS
shall not receive 100% of the Monthly Administration fee unless and until GHFS provides two consecutive months of accurate daily NAV calculations. 

 For purposes of this Exhibit D, only a “Material Deviation” (as defined below) in
GHFS’ daily NAV calculation from the daily NAV provided by the current fund administrator will be deemed a daily NAV calculation error; provided that the Company has reasonably determined that the current fund administrator has not made an
error itself in calculating the daily NAV. A “Material Deviation” shall be defined as any deviation that would be greater than 1/10 of 1% of the Fund’s NAV. All deviations will be reconciled. 

4. Success Fee – The first time GHFS provides daily NAV calculations without any daily NAV calculation errors for two consecutive months, the
Fund(s) or the Company shall pay GHFS a success fee in the amount of $            (the “Success Fee”). The Success Fee will be paid in three (3) equal and consecutive monthly
installments commencing with the month immediately following the second consecutive error free month.  
 5. Out-of-Pocket Expenses – The
Fund(s) or the Company shall reimburse GHFS for all reasonable out-of-pocket expenses incurred relating to the Fund(s), including but not limited to the following: 
  

	 	•	 	Fees paid to third party pricing sources to procure pricing for portfolio securities 

  

	 	•	 	Telephone and Toll Free Lines 

  

	 	•	 	Postage, Courier and Stationery 

  

	 	•	 	Programming, Special Reports 

  

	 	•	 	Retention of records 

  

	 	•	 	Travel (as requested by the Funds) 

  

	 	•	 	Auditing and legal expenses 

  

	 	•	 	Printing and mailing services 

  

	 	•	 	Monthly printing and mailing of statements to 5,600 investors 

  

	 	•	 	Annual financial report printing and mailing to 12,065 investors 

  

	 	•	 	424B3 Filings 

  

	 	•	 	XBRL, Edgar filings for 10Q’s and 10K 

  

	 	•	 	Hosting of summary prospectus 

  

	 	•	 	All other reasonable out-of-pocket expenses incurred on behalf of Funds 

 6. Custom Reports/Programming
Fees/Additional Net Asset Value Calculations – All custom reports and/or analyses requested by the Funds shall be subject to an additional charge, agreed upon in advance, based upon the following rates: 

 

	 	•	 	GHFS Senior Staff         $            per hour 

 

	 	•	 	GHFS Junior Staff         $            per hour 

 

	 	•	 	MIS
Staff                       $            per hour 

Additionally, if GHFS is required to process more than one Net Asset valuation in any month, GHFS shall be compensated for the time needed to process each
additional valuation at GHFS’ then current hourly rates. This fee is inapplicable for reprocessing as a result of an error by GHFS or its affiliates. 

 7. De-Conversion Fee – Each Fund shall pay GHFS a de-conversion fee in the amount of
$            upon a cancellation or termination of this Agreement for any reason other than a Fund’s liquidation. 

8. Compensation in Connection with Termination of Fund Operations – In the event that a Fund terminates operations and GHFS is to provide support
for closure, compensation to GHFS shall continue for a two-month wrap-up period at the monthly administration fee set forth above. Such termination compensation shall be accrued and included as a Fund liability on the final period financial
statements. 
 9. Fees for Support Services Following Termination of Agreement – If this Agreement is terminated with respect to a Fund
and that Fund continues operations, any support services requested from GHFS more than one (1) month after termination will be billed at GHFS’ then-current hourly rates, subject to a retainer. 

10. Late Fees – Fees not paid within thirty (30) days of invoicing incur interest charges from the date of invoicing at an interest rate of
            percent (                %) per annum.

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