0001398344-13-001631 Sample Contracts

INVESTMENT MANAGERS SERIES TRUST SECOND AMENDED AND RESTATED OPERATING EXPENSES LIMITATION AGREEMENT
Operating Expenses Limitation Agreement • March 28th, 2013 • Investment Managers Series Trust • Delaware

THIS AMENDED AND RESTATED OPERATING EXPENSES LIMITATION AGREEMENT (the “Agreement”) is effective as of April 1, 2012 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, Zacks Investment Management, Inc. (the “Advisor”).

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