0000910472-12-000933 Sample Contracts

FORM OF INVESTMENT ADVISORY AGREEMENT Between NORTHERN LIGHTS FUND TRUST and ALTEGRIS ADVISORS, LLC
Investment Advisory Agreement • March 30th, 2012 • Northern Lights Fund Trust • New York

AGREEMENT, made as of January 21, 2011, as revised March 23, 2011, August 18, 2011 and February 22, 2012 between Northern Lights Fund Trust, a Delaware statutory trust (the "Trust"), and Altegris Advisors, LLC, a Delaware Limited Liability Company (the "Adviser") located at 1200 Prospect Street, Suite 550, La Jolla, California 92037.

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FORM OF INVESTMENT SUB-ADVISORY AGREEMENT
Investment Sub-Advisory Agreement • March 30th, 2012 • Northern Lights Fund Trust • Delaware

This AGREEMENT is made as of the __ day of _____ 2012, by and among OMT Capital Management, LLC, a Delaware limited liability company located at One Montgomery Street, Suite 3300, San Francisco, CA 94104 (the “Sub-Adviser”), and Altegris Advisors, L.L.C., a Delaware limited liability company located at 1200 Prospect Street, Suite 550, La Jolla, CA 92037 (the “Adviser”).

NORTHERN LIGHTS FUND TRUST FORM OF OPERATING EXPENSES LIMITATION AGREEMENT
Operating Expenses Limitation Agreement • March 30th, 2012 • Northern Lights Fund Trust • New York

THIS OPERATING EXPENSES LIMITATION AGREEMENT (the “Agreement”) is effective as of the 17th day of June, 2010, as revised March 23, 2011, August 18, 2011 and February 22, 2012 by and between NORTHERN LIGHTS FUND TRUST, a Delaware statutory trust (the “Trust”), on behalf of Altegris Managed Futures Strategy Fund, Altegris Macro Strategy Fund, Altegris Futures Evolution Strategy Fund and Altegris Equity Long Short Fund (the “Funds”) a series of the Trust, and the adviser of the Funds, Altegris Advisors, LLC (the “Adviser”).

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