0001398344-13-002672 Sample Contracts

INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • May 30th, 2013 • Alpine Income Trust • Delaware

INVESTMENT ADVISORY AGREEMENT (the “Agreement’), dated as of December 19, 2012, between Alpine Income Trust, a Delaware statutory trust (the “Trust”), on behalf of Alpine High Yield Managed Duration Municipal Fund (the “Fund”), and Alpine Woods Capital Investors, LLC, a Delaware limited liability company (the “Adviser”).

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ALPINE HIGH YIELD MANAGED DURATION MUNICIPAL FUND EXPENSE LIMITATION AND REIMBURSEMENT AGREEMENT
Expense Limitation and Reimbursement Agreement • May 30th, 2013 • Alpine Income Trust • New York

AGREEMENT made this 30th day of May, 2013 by and between Alpine Income Trust (the “Trust”), on behalf of its series known as Alpine High Yield Managed Duration Municipal Fund (the “Fund”), and Alpine Woods Capital Investors, LLC (the “Adviser”):

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