0000910472-13-002890 Sample Contracts

NORTHERN LIGHTS FUND TRUST OPERATING EXPENSES LIMITATION AGREEMENT
Operating Expenses Limitation Agreement • July 26th, 2013 • 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, September 26, 2012, November 14, 2012, March 28, 2013 and July 16, 2013, 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, Altegris Fixed Income Long Short Fund, and Altegris Multi-Strategy Alternative Fund (the “Funds”) a series of the Trust, and the adviser of the Funds, Altegris Advisors, LLC (the “Adviser”).

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