0000910472-13-000474 Sample Contracts

INVESTMENT ADVISORY AGREEMENT Between NORTHERN LIGHTS FUND TRUST and BTS ASSET MANAGEMENT, INC.
Investment Advisory Agreement • February 12th, 2013 • 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 BTS Asset Management, Inc., a corporation organized and existing under the laws of the State of Massachusetts (the "Adviser") located at 420 Bedford Street, Suite 340, Lexington, MA 02420.

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NORTHERN LIGHTS FUND TRUST OPERATING EXPENSES LIMITATION AGREEMENT BTS DIVERSIFIED INCOME FUND
Fund Trust Operating Expenses Limitation Agreement • February 12th, 2013 • Northern Lights Fund Trust • New York

THIS OPERATING EXPENSES LIMITATION AGREEMENT (the “Agreement”) is effective as of December 11, 2012, by and between NORTHERN LIGHTS FUND TRUST, a Delaware statutory trust (the “Trust”), on behalf of BTS Diversified Income Fund (the “Fund”) a series of the Trust, and the advisor of the Fund, BTS Asset Management, Inc. (the “Advisor”).

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