0001464413-10-000112 Sample Contracts

INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • November 15th, 2010 • Starboard Investment Trust • Delaware

This Investment Advisory Agreement (“Agreement”) is made and entered into effective as of September 15, 2010 by and between Roumell Asset Management, LLC, a Maryland limited liability company (the “Advisor”), and the Starboard Investment Trust (the “Trust”), a Delaware statutory trust, on behalf of the Roumell Opportunistic Value Fund (the “Fund”), a series of the Trust.

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Fund Accounting And Administration Agreement Dated: September 15, 2010
Fund Accounting and Administration Agreement • November 15th, 2010 • Starboard Investment Trust • North Carolina

This Fund Accounting and Administration Agreement (“Agreement”), is entered into as of the date noted above by and between the Starboard Investment Trust, a Delaware statutory trust (“Trust”), and The Nottingham Company, a North Carolina corporation (“Administrator”).

FORM OF SUBSCRIPTION AGREEMENT
Subscription Agreement • November 15th, 2010 • Starboard Investment Trust • Delaware
Roumell Opportunistic Value Fund Operating Plan
Operating Plan • November 15th, 2010 • Starboard Investment Trust

This Operating Plan, effective commencing September 15, 2010, is entered into by and between Roumell Asset Management, LLC (“Advisor”) and The Nottingham Company (“Administrator”) with respect to the Roumell Opportunistic Value Fund (“Fund”), a series of the Starboard Investment Trust (“Trust”), a Delaware statutory trust.

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