0001580642-15-005997 Sample Contracts

Saratoga Advantage Trust INVESTMENT ADVISORY AGREEMENT James Alpha Global Enhanced Real Return Portfolio
Investment Advisory Agreement • December 24th, 2015 • Saratoga Advantage Trust • Delaware

THIS INVESTMENT ADVISORY AGREEMENT is made as of the day of , 2016, by and between Saratoga Advantage Trust (the “Trust”), on behalf of the James Alpha Global Enhanced Real Return Portfolio, a series of the Trust (the “Fund”), and James Alpha Advisors, LLC (the “Adviser”).

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INVESTMENT ADVISORY AGREEMENT BETWEEN SARATOGA CAPITAL MANAGEMENT, LLC AND SMITH GROUP ASSET MANAGEMENT REGARDING THE SARATOGA ADVANTAGE TRUST
Investment Advisory Agreement • December 24th, 2015 • Saratoga Advantage Trust • New York

AGREEMENT made this ___ day of ___, 2015 between Saratoga Capital Management, LLC a Delaware limited liability company (the "Manager") and Smith Group Asset Management, a Delaware partnership (the "Advisor").

JAMES ALPHA CAYMAN COMMODITY FUND I LTD. INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • December 24th, 2015 • Saratoga Advantage Trust • Delaware

THIS INVESTMENT ADVISORY AGREEMENT is made as of the 29th day of December, 2015, by and between James Alpha Cayman Commodity Fund I Ltd., a Cayman Islands company (the “Company”), and James Alpha Advisors, LLC (the “Adviser”).

Saratoga Advantage Trust INTERIM INVESTMENT ADVISORY AGREEMENT James Alpha Global Enhanced Real Return Portfolio
Interim Investment Advisory Agreement • December 24th, 2015 • Saratoga Advantage Trust • Delaware

THIS INTERIM INVESTMENT ADVISORY AGREEMENT is made as of the 29th day of December, 2015, by and between Saratoga Advantage Trust (the “Trust”), on behalf of the James Alpha Global Enhanced Real Return Portfolio, a series of the Trust (the “Fund”), and James Alpha Advisors, LLC (the “Adviser”).

THE SARATOGA ADVANTAGE TRUST ASSIGNMENT AND ASSUMPTION AGREEMENT
Assignment and Assumption Agreement • December 24th, 2015 • Saratoga Advantage Trust • New York

THIS ASSIGNMENT AND ASSUMPTION AGREEMENT (the “Agreement”) is made as of this 1st day of November, 2015 by and between James Alpha Management, LLC, a Delaware limited liability company (“James Alpha Management”) and James Alpha Advisors, LLC, a New York limited liability company (“James Alpha Advisors”), and is approved by The Saratoga Advantage Trust (the “Trust”), a Delaware statutory trust registered as an investment company under the Investment Company Act of 1940, as amended (the “1940 Act”).

Saratoga Advantage Trust OPERATING EXPENSE LIMITATION AGREEMENT James Alpha Global Enhanced Real Return Portfolio
Operating Expense Limitation Agreement • December 24th, 2015 • Saratoga Advantage Trust • New York

THIS OPERATING EXPENSE LIMITATION AGREEMENT (the “Agreement”) is effective as of December 29, 2015, by and between Saratoga Advantage Trust, a Delaware statutory trust (the “Trust”), on behalf of the James Alpha Global Enhanced Real Return Portfolio, a series of the Trust (the “Fund”), and James Alpha Advisors, LLC, the investment adviser to the Fund (the “Adviser”).

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