0001144204-09-039253 Sample Contracts

INVESTMENT ADVISORY AGREEMENT BETWEEN INVESTMENT MANAGERS SERIES TRUST AND EURO PACIFIC HALTER ASIA MANAGEMENT, INC.
Investment Advisory Agreement • July 29th, 2009 • Investment Managers Series Trust • Delaware

THIS INVESTMENT ADVISORY AGREEMENT (the “Agreement”), dated as of July 29, 2009, between the Investment Managers Series Trust, a Delaware statutory trust (the “Trust”), on behalf of its series listed in Appendix A, as amended from time to time (the “Fund”), and Euro Pacific Halter Asia Management, Inc., a Nevada corporation (the “Advisor”).

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INVESTMENT MANAGERS SERIES TRUST OPERATING EXPENSES LIMITATION AGREEMENT
Operating Expenses Limitation Agreement • July 29th, 2009 • Investment Managers Series Trust • Delaware

THIS OPERATING EXPENSES LIMITATION AGREEMENT (the “Agreement”) is effective as of July 29, 2009, by and between INVESTMENT MANAGERS SERIES TRUST, a Delaware statutory trust (the “Trust”), on behalf of its series listed in Appendix A, as amended from time to time (the “Fund”), a series of the Trust, and the Advisor of the Fund, EURO PACIFIC HALTER ASIA MANAGEMENT, INC. (the “Advisor”).

SUBSCRIPTION AGREEMENT
Subscription Agreement • July 29th, 2009 • Investment Managers Series Trust

THIS SUBSCRIPTION AGREEMENT is entered into as of the 29th day of July, 2009, between Investment Managers Series Trust, a statutory trust organized and existing under the laws of Delaware (the "Trust"), and Euro Pacific Halter Asia Management, Inc. (the "Purchaser").

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