0000910472-12-003851 Sample Contracts

FORM OF INVESTMENT ADVISORY AGREEMENT Between NORTHERN LIGHTS FUND TRUST and ALTEGRIS ADVISORS, LLC
Investment Advisory Agreement • December 18th, 2012 • Northern Lights Fund Trust • New York

AGREEMENT, made as of January 21, 2011, as revised March 23, 2011, August 18, 2011, March 28, 2012 and September 26, 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 • December 18th, 2012 • Northern Lights Fund Trust • Delaware

This AGREEMENT is made as of the 26 day of September 2012, by and among RockView Management, LLC, a limited liability company registered under the Advisers Act, located at Metro Center, One Station Place, 7th Floor, Stamford, CT 06902 (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 • December 18th, 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, March 28, 2012, May 1, 2012, and September 26, 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, Altegris Equity Long Short Fund, and Altegris Fixed Income 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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