0001398344-19-007360 Sample Contracts

AMENDED AND RESTATED INVESTMENT ADVISORY AGREEMENT BETWEEN INVESTMENT MANAGERS SERIES TRUST AND aristotle capital boston, llc
Investment Advisory Agreement • April 30th, 2019 • Investment Managers Series Trust • Delaware

THIS AMENDED AND RESTATED INVESTMENT ADVISORY AGREEMENT (the “Agreement”), dated as of September 1, 2017, to the Investment Advisory Agreement dated as of October 30, 2015 (the “Initial 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 Aristotle Capital Boston, LLC a Limited Liability Corporation (the “Advisor”).

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INVESTMENT MANAGERS SERIES TRUST OPERATING EXPENSES LIMITATION AGREEMENT
Operating Expenses Limitation Agreement • April 30th, 2019 • Investment Managers Series Trust • Delaware

THIS OPERATING EXPENSES LIMITATYON AGREEMENT (the "Agreement") is dated as of March 31, 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 (each a "Fund"), and the investment advisor of the Funds, Aristotle Atlantic Partners, LLC (the "Advisor").

INVESTMENT MANAGERS SERIES TRUST FOURTH AMENDED AND RESTATED OPERATING EXPENSES LIMITATION AGREEMENT
Operating Expenses Limitation Agreement • April 30th, 2019 • Investment Managers Series Trust • Delaware

THIS FOURTH AMENDED AND RESTATED OPERATING EXPENSES LIMITATION AGREEMENT (the "Agreement") is dated as of September 1, 2018, 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, Aristotle Capital Management, LLC (the "Advisor").

INVESTMENT MANAGERS SERIES TRUST SECOND AMENDED AND RESTATED OPERATING EXPENSES LIMITATION AGREEMENT
Operating Expenses Limitation Agreement • April 30th, 2019 • Investment Managers Series Trust • Delaware

THIS SECOND AMENDED AND RESTATED OPERATING EXPENSES LIMITATION AGREEMENT (the "Agreement") is dated as of September 1, 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 (each a "Fund"), and the investment advisor of the Funds, Aristotle Capital Boston, LLC (the "Advisor").

SECOND AMENDED AND RESTATED INVESTMENT ADVISORY AGREEMENT BETWEEN
Investment Advisory Agreement • April 30th, 2019 • Investment Managers Series Trust • Delaware

THIS SECOND AMENDED AND RESTATED INVESTMENT ADVISORY AGREEMENT (the "Agreement"), dated as of September 1, 2018, to the Investment Advisory Agreement dated February 14, 2013, as amended March 31, 2014 (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 Aristotle Capital Management, LLC, a Delaware limited liability company (the "Advisor").

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