0001464413-17-000090 Sample Contracts

INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • April 21st, 2017 • Starboard Investment Trust • Delaware

THIS INVESTMENT ADVISORY AGREEMENT ("Agreement") is made and entered into as of this 29th day of December, 2016, by and between STARBOARD INVESTMENT TRUST, a Delaware statutory trust (the "Trust"), and ARS Investment Management, LLC, a Massachusetts Limited Liability Company (the "Advisor"), located at 629 Highland Avenue, Suite 200, Needham, Massachusetts, 02494, on behalf of the Alpha Risk Hedged Dividend Equity Fund enumerated in Appendix A hereof (made subject to this Agreement in accordance with the terms contained below, being herein referred to as the "Fund,").

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