SUBADVISORY AGREEMENTSubadvisory Agreement • April 26th, 2011 • Northern Lights Variable Trust • New York
THIS AGREEMENT is made and entered into as of this 13th day of April, 2011, by and between VALMARK ADVISERS, INC. (the “Adviser”), a Delaware corporation registered under the Investment Advisers Act of 1940, as amended (the “Advisers Act”) located at 130 Springside Drive, Akron, OH 44333, and Milliman, Inc. (the “Subadviser”), a Washington corporation registered under the Advisers Act, with an office at 71 S. Wacker Drive, 31st Floor, Chicago, IL 60606, with respect to each Fund listed on Schedule A hereto (each, a “Fund”), each a series of the NORTHERN LIGHTS VARIABLE TRUST, a Delaware statutory trust (the “Trust”).
