0000910472-09-000330 Sample Contracts

INVESTMENT ADVISORY AGREEMENT Between NORTHERN LIGHTS VARIABLE TRUST and CHARIOT ADVISORS, LLC
Investment Advisory Agreement • April 30th, 2009 • Northern Lights Variable Trust • New York

AGREEMENT, made as of December 15, 2008 between Northern Lights Variable Trust, a Delaware statutory trust (the "Trust"), and Chariot Advisors, LLC, a limited liability company organized and existing under the laws of the State of North Carolina (the "Adviser") located at 8010 Arco Corporate Drive, Suite 175, Raleigh, NC 27617.

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NORTHERN LIGHTS VARIABLE TRUST OPERATING EXPENSES LIMITATION AGREEMENT CHARIOT ABSOLUTE RETURN CURRENCY PORTFOLIO
Operating Expenses Limitation Agreement • April 30th, 2009 • Northern Lights Variable Trust • New York

THIS OPERATING EXPENSES LIMITATION AGREEMENT (the “Agreement”) is effective as of the 15th day of December, 2008, by and between NORTHERN LIGHTS VARIABLE TRUST, a Delaware statutory trust (the “Trust”), on behalf of CHARIOT ABSOLUTE RETURN CURRENCY PORTFOLIO (the “Fund”) a series of the Trust, and the advisor of the Fund, Chariot Advisors, LLC (the “Advisor”).

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