0001398344-13-003011 Sample Contracts

INVESTMENT ADVISORY AGREEMENT BETWEEN INVESTMENT MANAGERS SERIES TRUST AND OAK RIDGE INVESTMENTS, LLC
Investment Advisory Agreement • July 1st, 2013 • Investment Managers Series Trust • Delaware

THIS INVESTMENT ADVISORY AGREEMENT (the “Agreement”), dated as of the 28th of June, 2013 is entered into 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 (each a “Fund”), and Oak Ridge Investments, LLC, a Delaware Limited Liability Company (the “Advisor”).

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INVESTMENT MANAGERS SERIES TRUST OPERATING EXPENSES LIMITATION AGREEMENT
Operating Expenses Limitation Agreement • July 1st, 2013 • Investment Managers Series Trust • Delaware

THIS OPERATING EXPENSES LIMITATION AGREEMENT (the “Agreement”) is effective as of the 28th of June, 2013 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, Oak Ridge Investments, LLC (the “Advisor”).

SUBSCRIPTION AGREEMENT
Subscription Agreement • July 1st, 2013 • Investment Managers Series Trust

THIS SUBSCRIPTION AGREEMENT is entered into as of the 28th day of June, 2013, between Investment Managers Series Trust, a statutory trust organized and existing under the laws of Delaware (the "Trust"), and Oak Ridge Investments, LLC (the "Purchaser").

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