0001398344-14-000467 Sample Contracts

AMENDED AND RESTATED INVESTMENT ADVISORY AGREEMENT BETWEEN INVESTMENT MANAGERS SERIES TRUST AND ZACKS INVESTMENT MANAGEMENT, INC.
Investment Advisory Agreement • January 29th, 2014 • Investment Managers Series Trust • Delaware

THIS AMENDED AND RESTATED INVESTMENT ADVISORY AGREEMENT (the “Agreement”) is dated as of January 29, 2014, to the Investment Advisory Agreement dated June 26, 2008 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 Zacks Investment Management, Inc., a Illinois corporation (the “Advisor”).

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SUBSCRIPTION AGREEMENT
Subscription Agreement • January 29th, 2014 • Investment Managers Series Trust

THIS SUBSCRIPTION AGREEMENT is entered into as of the __ day of _______, 2013, between Investment Managers Series Trust, a statutory trust organized and existing under the laws of Delaware (the "Trust"), and ___________________________. (the "Purchaser").

INVESTMENT MANAGERS SERIES TRUST AMENDED AND RESTATED OPERATING EXPENSES LIMITATION AGREEMENT
Operating Expenses Limitation Agreement • January 29th, 2014 • Investment Managers Series Trust • Delaware

THIS AMENDED AND RESTATED OPERATING EXPENSES LIMITATION AGREEMENT (the “Agreement”) is dated as of January 29, 2014, to the Operating Expenses Limitation Agreement dated 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 (each a “Fund”), and the investment advisor of the Funds, Zacks Investment Management, Inc. (the “Advisor”).

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