0000910472-14-001680 Sample Contracts

INVESTMENT ADVISORY AGREEMENT Between NORTHERN LIGHTS FUND TRUST and LAKEWOOD INVESTMENT MANAGEMENT, LLC
Investment Advisory Agreement • April 16th, 2014 • Northern Lights Fund Trust • New York

AGREEMENT (the "Agreement"), made as of February 25, 2014 between Northern Lights Fund Trust, a Delaware statutory trust (the "Trust"), and Lakewood Investment Management, LLC. An Illinois, limited liability company organized (the "Adviser") located at 111 S. Wacker Drive, Suite 3950, Chicago, IL 60606.

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NORTHERN LIGHTS FUND TRUST OPERATING EXPENSES LIMITATION AND SECURITY AGREEMENT ASTOR MACRO ALTERNATIVE FUND
And Security Agreement • April 16th, 2014 • Northern Lights Fund Trust • New York

THIS OPERATING EXPENSES LIMITATION AND SECURITY AGREEMENT (the “Agreement”) is effective as of February 25, 2014, by and between NORTHERN LIGHTS FUND TRUST, a Delaware statutory trust (the “Trust”), on behalf of Astor Macro Alternative Fund (the “Fund”) a series of the Trust, and the advisor of the Fund, Lakewood Investment Management, LLC (the “Advisor”).

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