0000910472-07-000240 Sample Contracts

INVESTMENT ADVISORY AGREEMENT Between NORTHERN LIGHTS FUND TRUST and THE GRATIO VALUE/S FUND
Investment Advisory Agreement • June 8th, 2007 • Northern Lights Fund Trust • Nebraska

AGREEMENT, made as of March 30, 2007, between Northern Lights Fund Trust, a Delaware business trust (the "Trust"), and Gratio Capital, (the "Advisor") located at 1 Liberty Plaza, 27th Floor. New York, NY 10006.

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