0001398344-18-003005 Sample Contracts

FORM OF second Amended and restated INVESTMENT ADVISORY AGREEMENT BETWEEN INVESTMENT MANAGERS SERIES TRUST AND

Investment Advisory Agreement • February 28th, 2018 • Investment Managers Series Trust • Delaware

• Contract Type
  Investment Advisory Agreement
• Filed
  February 28th, 2018
• Company
  Investment Managers Series Trust
• Jurisdiction
  Delaware

THIS SECOND AMENDED AND RESTATED INVESTMENT ADVISORY AGREEMENT (the “Agreement”), dated as of December 18, 2017, to the Investment Advisory Agreement dated as of December 5, 2013 (the “Prior Agreement”), 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 361 Capital, LLC, a Delaware limited liability company (the “Advisor”).

INVESTMENT MANAGERS SERIES TRUST FORM OF SECOND AMENDED AND RESTATED OPERATING EXPENSES LIMITATION AGREEMENT

Operating Expenses Limitation Agreement • February 28th, 2018 • Investment Managers Series Trust • Delaware

• Contract Type
  Operating Expenses Limitation Agreement
• Filed
  February 28th, 2018
• Company
  Investment Managers Series Trust
• Jurisdiction
  Delaware

THIS SECOND AMENDED AND RESTATED OPERATING EXPENSES LIMITATION AGREEMENT (the “Agreement”) is dated as of December 18, 2017 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”), and the investment advisor of the Funds, 361 Capital, LLC (the “Advisor”).