INVESTMENT ADVISORY AGREEMENT
dated February 21, 2017
between Two Roads Shared Trust and Redwood Investment Management, LLC
EXHIBIT A
As amended: October 31, 2017
| Fund | Investment Advisory Fee | Effective Date |
| Redwood AlphaFactor Core Equity Fund | 0.50% | February 22, 2017 |
| Redwood AlphaFactor Tactical Core Fund | 0.90% | February 22, 2017 |
| Redwood Managed Municipal Income Fund | 0.70% | February 22, 2017 |
| Redwood Activist Leaders™ Fund | 0.60% | November 1, 2017 |
| Redwood AlphaFactor™ Tactical International Fund | 0.90% | November 1, 2017 |
| Redwood Systematic Macro Trend (“SMarT”) Fund | 1.00% | November 1, 2017 |
On behalf of the Funds included herein on Exhibit A
By: /s/ Xxx Xxxxxxxxx
Name: Xxx Xxxxxxxxx
Title: President
REDWOOD INVESTMENT MANAGEMENT, LLC
By: /s/ Xxxxxxx Xxxxxxxxx
Name: Xxxxxxx Xxxxxxxxx
Title: Principal
