0000910472-13-002234 Sample Contracts

INVESTMENT ADVISORY AGREEMENT Between NORTHERN LIGHTS FUND TRUST and GIRALDA ADVISORS, LLC
Investment Advisory Agreement • May 30th, 2013 • Northern Lights Fund Trust • New York

AGREEMENT (the "Agreement"), made as of March 15, 2013 between Northern Lights Fund Trust, a Delaware statutory trust (the "Trust"), and Giralda Advisors, LLC a Delaware limited liability company (the "Adviser") located at 4200 West 115th Street, Suite 100, Leawood, Kanas 66211.

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NORTHERN LIGHTS FUND TRUST OPERATING EXPENSES LIMITATION AGREEMENT CMG ABSOLUTE RETURN STRATEGIES FUND CMG TACTICAL EQUITY STRATEGY FUND CMG GLOBAL EQUTY FUND CMG MANAGED HIGH YIELD FUND
Operating Expenses Limitation Agreement • May 30th, 2013 • Northern Lights Fund Trust • New York

THIS OPERATING EXPENSES LIMITATION AGREEMENT (the “Agreement”) is effective as of February 27, 2009, as revised November 18, 2011, as revised May 22, 2012 and as revised March 27, 2013, by and between NORTHERN LIGHTS FUND TRUST, a Delaware statutory trust (the “Trust”), on behalf of CMG Absolute Return Strategies Fund, CMG Tactical Equity Strategy Fund, CMG Global Equity Fund and CMG Managed High Yield Fund, (each a “Fund” and collectively the “Funds”) each a series of the Trust, and the advisor of such Funds, CMG Capital Management Group, Inc. (the “Advisor”).

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