0001464413-18-000199 Sample Contracts

INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • August 3rd, 2018 • Starboard Investment Trust • Delaware

This Investment Advisory Agreement ("Agreement") is made and entered into effective as of March 8, 2018 by and between Deschutes Portfolio Strategy, LLC, doing business as Matisse Capital , a Delaware limited liability company (the "Advisor"), and the Starboard Investment Trust (the ''Trust"), a Delaware statutory trust, on behalf of the Matisse Discounted Bond CEF Strategy (the "Fund"), a series of the Trust.

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EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • August 3rd, 2018 • Starboard Investment Trust

THIS EXPENSE LIMITATION AGREEMENT ("Agreement") is made and entered into effective as this 8th day of March, 2018 by and between STARBOARD INVESTMENT TRUST, a Delaware statutory trust (the "Trust"), on behalf of its series, the Matisse Discounted Bond CEF Strategy (the "Fund"), and DESCHUTES PORTFOLIO STRATEGY, LLC, D/B/A MATISSE CAPITAL (the "Advisor").

SUBSCRIPTION AGREEMENT BETWEEN THE TRUST AND THE INVESTORS
Subscription Agreement • August 3rd, 2018 • Starboard Investment Trust

Deschutes Portfolio Strategy, LLC d / b /a .MATISSE CAPITAL (the "Purchaser") subscribes to purchase a beneficial interes t ("Interest") of the Matisse Discounted Bond CEF Stra tegy ("Fund"), a series of Starboard Investment Trust, in the amount of $10.00 for 1 share at net asset value of $10.00 per share, in consideration for which the Purchaser agrees to transfer to you upon demand cash in the amount of $10.00.

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