0001144204-10-053049 Sample Contracts

INVESTMENT ADVISORY AGREEMENT BETWEEN INVESTMENT MANAGERS SERIES TRUST AND IRONCLAD INVESTMENTS, LLC
Investment Advisory Agreement • October 8th, 2010 • Investment Managers Series Trust • Delaware

THIS INVESTMENT ADVISORY AGREEMENT (the “Agreement”), dated as of _______________, 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 (each a “Fund”), and Ironclad Investments, LLC, a Florida Limited Liability Company (the “Advisor”).

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SUBSCRIPTION AGREEMENT
Subscription Agreement • October 8th, 2010 • Investment Managers Series Trust

THIS SUBSCRIPTION AGREEMENT is entered into as of the __ day of _______, 2010, between Investment Managers Series Trust, a statutory trust organized and existing under the laws of Delaware (the "Trust"), and __________________. (the "Purchaser").

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