0001580642-16-010094 Sample Contracts

SARATOGA ADVANTAGE TRUST INVESTMENT MANAGEMENT AGREEMENT JAMES ALPHA RELATIVE VALUE PORTFOLIO
Investment Management Agreement • August 5th, 2016 • Saratoga Advantage Trust • Delaware

THIS INVESTMENT MANAGEMENT AGREEMENT is made as of the [____] day of [___], 2016, by and between Saratoga Advantage Trust (the “Trust”), on behalf of the James Alpha Relative Value Portfolio, a series of the Trust (the “Fund”), and James Alpha Advisors, LLC (the “Manager”).

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JAMES ALPHA EVENT DRIVEN CAYMAN FUND] INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • August 5th, 2016 • Saratoga Advantage Trust • Delaware

THIS INVESTMENT ADVISORY AGREEMENT is made as of the [__] day of [______], by and between [James Alpha Event Driven Cayman Fund], a Cayman Islands company (the “Company”), and James Alpha Advisors, LLC (the “Adviser”).

SARATOGA ADVANTAGE TRUST OPERATING EXPENSE LIMITATION AGREEMENT
Trust Operating Expense Limitation Agreement • August 5th, 2016 • Saratoga Advantage Trust • Delaware

THIS OPERATING EXPENSE LIMITATION AGREEMENT (the “Agreement”) is effective as of the [___] day of [___], 2016, by and between Saratoga Advantage Trust, (the “Trust”), on behalf of the James Alpha Total Hedge Portfolio, a series of the Trust (the “Fund”), and James Alpha Advisors, LLC, the investment adviser to the Fund (the “Manager”).

SARATOGA ADVANTAGE TRUST OPERATING EXPENSE LIMITATION AGREEMENT
Expense Limitation Agreement • August 5th, 2016 • Saratoga Advantage Trust • Delaware

THIS OPERATING EXPENSE LIMITATION AGREEMENT (the “Agreement”) is effective as of the [___] day of [___], 2016, by and between Saratoga Advantage Trust, (the “Trust”), on behalf of the James Alpha Relative Value Portfolio, a series of the Trust (the “Fund”), and James Alpha Advisors, LLC, the investment adviser to the Fund (the “Manager”).

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