0000910472-14-004615 Sample Contracts

INVESTMENT ADVISORY AGREEMENT Between NORTHERN LIGHTS VARIABLE TRUST and JNF ADVISORS, INC.
Investment Advisory Agreement • October 20th, 2014 • Northern Lights Variable Trust • New York

AGREEMENT (the "Agreement"), made as of September 30, 2014 between Northern Lights Variable Trust, a Delaware statutory trust (the "Trust"), and JNF Advisors, Inc., a Delaware corporation (the "Adviser") located at 10350 Ormsby Park Place, Louisville, Kentucky 40223.

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SUBADVISORY AGREEMENT
Subadvisory Agreement • October 20th, 2014 • Northern Lights Variable Trust • Delaware

THIS AGREEMENT is made and entered into as of this 30th day of September, 2014, by and between JNF ADVISORS, INC. (the “Adviser”), a Delaware corporation registered under the Investment Advisers Act of 1940, as amended (the “Advisers Act”) located at 10350 Ormsby Park Place, Louisville, Kentucky 40223, and DYNASTY WEALTH MANAGEMENT LLC (the“Subadviser”), a Delaware limited liability company registered under the Advisers Act, located at 1350 Avenue of the Americas, New York, New York 10019 with respect to each Fund listed on Schedule A hereto (each, a “Fund”), each a series of the NORTHERN LIGHTS VARIABLE TRUST, a Delaware statutory trust (the “Trust”).

NORTHERN LIGHTS VARIABLE TRUST OPERATING EXPENSES LIMITATION AND SECURITY AGREEMENT
And Security Agreement • October 20th, 2014 • Northern Lights Variable Trust • New York

THIS OPERATING EXPENSES LIMITATION AND SECURITY AGREEMENT (the "Agreement") is effective as of April 12, 2012, as revised March 26, 2014 and September 30, 2014, by and between NORTHERN LIGHTS VARIABLE TRUST, a Delaware statutory trust (the "Trust"), on behalf of each of its series on Appendix A, (each a “Fund” and collectively the “Funds”) and the Advisor of such Funds, JNF Advisors, Inc. (the “Advisor”).

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