FORM OF SUBADVISORY CONTRACTSubadvisory Contract • April 29th, 2010 • Clearwater Investment Trust • Minnesota
AGREEMENT made as of the 17th day of April 2010, by and among CLEARWATER INVESTMENT TRUST, a Massachusetts business trust (the "Trust"), CLEARWATER MANAGEMENT CO., INC., a Minnesota corporation (the "Manager"), and KEELEY ASSET MANAGEMENT CORP., an Illinois corporation (the "Subadviser").
