FORM OF INVESTMENT ADVISORY AGREEMENT Between NORTHERN LIGHTS FUND TRUST and TOEWS CORPORATIONInvestment Advisory Agreement • June 26th, 2013 • Northern Lights Fund Trust • New York
AGREEMENT, made as of May 1 , 2009, revised on December 14, 2009, May 20, 2010, June 22, 2011, and as revised March 27, 2013, between Northern Lights Fund Trust, a Delaware statutory trust (the "Trust"), and Toews Corporation, a corporation organized and existing under the laws of the State of New Jersey (the "Adviser") located at Cornerstone Commerce Center, 1201 New Road, Suite 111, Linwood, NJ 08221
NORTHERN LIGHTS FUND TRUST FORM OF OPERATING EXPENSES LIMITATION AGREEMENTOperating Expenses Limitation Agreement • June 26th, 2013 • Northern Lights Fund Trust • New York
THIS OPERATING EXPENSES LIMITATION AGREEMENT (the “Agreement”) is effective as of the 14th day of December, 2009, as revised May 20, 2010, as revised June 22, 2011, and as revised March 27, 2013, by and between NORTHERN LIGHTS FUND TRUST, a Delaware statutory trust (the “Trust”), on behalf of Toews Hedged International Developed Markets Fund, Toews Hedged High Yield Bond Fund, Toews Hedged Large-Cap Fund, Toews Hedged Small & Mid Cap Fund, Toews Hedged Growth Allocation Fund, Toews Hedged Commodities Fund and Toews Unconstrained Income Fund (each a “Fund” and collectively the “Funds”), each a series of the Trust, and the Advisor of such Funds, Toews Corporation (the “Advisor”).
