0000910472-12-003975 Sample Contracts

FORM OF INVESTMENT ADVISORY AGREEMENT Between NORTHERN LIGHTS FUND TRUST and THE PACIFIC FINANCIAL GROUP, INC.
Investment Advisory Agreement • December 31st, 2012 • Northern Lights Fund Trust • New York

AGREEMENT, made as of December 11 2012, between Northern Lights Fund Trust, a Delaware statutory trust (the "Trust"), and The Pacific Financial Group, Inc., a corporation organized and existing under the laws of the State of Washington (the "Adviser") located at 777 108th Avenue, NE, Suite 2100, Bellevue, WA 98004.

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NORTHERN LIGHTS FUND TRUST FORM OF OPERATING EXPENSES LIMITATION AGREEMENT
Operating Expenses Limitation Agreement • December 31st, 2012 • Northern Lights Fund Trust • New York

PACIFIC FINANCIAL CORE EQUITY FUND, PACIFIC FINANCIAL EXPLORER FUND, PACIFIC FINANCIAL INTERNATIONAL FUND, PACIFIC FINANCIAL STRATEGIC CONSERVATIVE FUND & PACIFIC FINANCIAL TACTICAL FUND, PACIFIC FINANCIAL ALTERNATIVE STRATEGIES FUND, PACIFIC FINANCIAL FLEXIBLE GROWTH & INCOME FUND, PACIFIC FINANCIAL BALANCED FUND, PACIFIC FINANCIAL FOUNDATIONAL ASSET ALLOCATION FUND, PACIFIC FINANCIAL FAITH & VALUES BASED MODERATE FUND, PACIFIC FINANCIAL FAITH & VALUES BASED CONSERVATIVE FUND AND PACIFIC FINANCIAL FAITH & VALUES BASED AGGRESSIVE FUND THIS OPERATING EXPENSES LIMITATION AGREEMENT (the “Agreement”) is effective as of the 30th day of March, 2007, as revised December 11, 2012, by and between NORTHERN LIGHTS FUND TRUST, a Delaware statutory trust (the “Trust”), on behalf of Pacific Financial Core Equity Fund, Pacific Financial Explorer Fund, Pacific Financial International Fund, Pacific Financial Strategic Conservative Fund, Pacific Financial Tactical fund, Pacific Financial Alternative

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