INVESTMENT ADVISORY AGREEMENT Between NORTHERN LIGHTS FUND TRUST and ARROW INVESTMENT ADVISORS, LLCInvestment Advisory Agreement • April 29th, 2010 • Northern Lights Fund Trust • Nebraska
Contract Type FiledApril 29th, 2010 Company JurisdictionAGREEMENT, made as of June 22, 2006, as revised March 17, 2008, September 25, 2008, and February 25, 2010, between Northern Lights Fund Trust, a Delaware business trust (the "Trust"), and Arrow Investment Advisors, LLC, (the "Advisor") located at 2943 Olney-Sandy Spring Road, Suite A, Olney, MD 20832.