0000897101-16-002263 Sample Contracts

Clearwater Investment Trust AMENDED AND RESTATED SUBADVISORY AGREEMENT
Subadvisory Agreement • April 29th, 2016 • Clearwater Investment Trust • Minnesota

This Subadvisory Agreement, made as of the 1st day of January, 2016 (the “Agreement”), by and among Clearwater Investment Trust (“Trust”), a Massachusetts business trust, Clearwater Management Co., Inc. (the “Manager”), a Minnesota corporation, and Osterweis Capital Management, (the “Subadvisor”).

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AMENDMENT NO. 2 TO THE SUBADVISORY AGREEMENT
Subadvisory Agreement • April 29th, 2016 • Clearwater Investment Trust

This Amendment No. 2 to the Subadvisory Agreement by and between Clearwater Investment Trust (the "Trust"), Clearwater Management Co., Inc. (the "Manager") and AQR Capital Management, LLC (the "Subadvisor"), is made effective as of the 1st day of January 2016.

Clearwater Investment Trust AMENDMENT NO. 1 TO THE SUBADVISORY AGREEMENT
Subadvisory Agreement • April 29th, 2016 • Clearwater Investment Trust

This Amendment No. 1 to the Subadvisory Agreement by and between Clearwater Investment Trust (the “Trust”), Clearwater Management Co., Inc. (the “Manager”) and AQR Capital Management, LLC (the “Subadvisor”), is made effective as of the 1st day of July 2015.

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