0001580642-17-003307 Sample Contracts

INVESTMENT ADVISORY AGREEMENT BETWEEN SARATOGA CAPITAL MANAGEMENT, LLC AND GRANITE SPRINGS ASSET MANAGEMENT, LLC REGARDING THE THE SARATOGA ADVANTAGE TRUST
Investment Advisory Agreement • June 1st, 2017 • Saratoga Advantage Trust

AGREEMENT made this 17th day of April, 2017 between Saratoga Capital Management, LLC a Delaware limited liability company (the "Manager") and Granite Springs Asset Management, LLC, a Delaware limited liability company (the "Advisor").

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James Alpha Family Office Cayman Fund Ltd. INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • June 1st, 2017 • Saratoga Advantage Trust • Delaware

THIS INVESTMENT ADVISORY AGREEMENT is made as of the 29th day of May 2017, by and between James Alpha Family Office Cayman Fund Ltd., a Cayman Islands company (the “Company”), and James Alpha Advisors, LLC (the “Adviser”).

SARATOGA ADVANTAGE TRUST FEE WAIVER AND OPERATING EXPENSE LIMITATION AGREEMENT FOR CLASS S SHARES
Expense Limitation Agreement • June 1st, 2017 • Saratoga Advantage Trust • New York

THIS FEE WAIVER AND OPERATING EXPENSE LIMITATION AGREEMENT FOR CLASS S SHARES (the “Agreement”) is effective as of the 29th day of May 2017, by and between Saratoga Advantage Trust (the “Trust”), on behalf of the James Alpha Global Real Estate Investments Portfolio, a series of the Trust (the “Fund”), and Ascent Investment Advisors, LLC, the investment adviser to the Fund (the “Manager”).

SUB-EXPENSE LIMITATION AGREEMENT James Alpha Managed Risk Emerging Markets Equity Portfolio
Sub-Expense Limitation Agreement • June 1st, 2017 • Saratoga Advantage Trust • Delaware

THIS SUB-EXPENSE LIMITATION AGREEMENT (the “Agreement”) is effective as of the 29th day of May 2017, by and between James Alpha Advisors, LLC (the “Manager”), the investment adviser to the James Alpha Managed Risk Emerging Markets Equity Portfolio (the “Portfolio”), a series of Saratoga Advantage Trust (the “Trust”), and EAB Investment Group, LLC, the investment sub-adviser to the Portfolio (the “Advisor”).

FEE WAIVER AGREEMENT FOR CLASS S SHARES
Fee Waiver Agreement • June 1st, 2017 • Saratoga Advantage Trust • Delaware

THIS FEE WAIVER AGREEMENT FOR CLASS S SHARES (the “Agreement”) is effective as of the 29th day of May 2017, by and between James Alpha Advisors, LLC (the “Manager”) and each of James Alpha Cayman Commodity Fund I Ltd., James Alpha Event Driven Cayman Fund Ltd., James Alpha Total Hedge Cayman Fund Ltd., James Alpha Relative Value Cayman Fund Ltd., and the James Alpha Family Office Cayman Fund Ltd. (each, a “Fund” and collectively, the “Funds”).

SUB-EXPENSE LIMITATION AGREEMENT JAMES ALPHA YORKVILLE MLP PORTFOLIO
Sub-Expense Limitation Agreement • June 1st, 2017 • Saratoga Advantage Trust • New York

THIS SUB-EXPENSE LIMITATION AGREEMENT (the “Agreement”) is effective as of the 29th day of May 2017, by and between James Alpha Advisors, LLC (the “Manager”), the investment adviser to the James Alpha Yorkville MLP Portfolio (the “Fund”), a series of Saratoga Advantage Trust (the “Trust”), and Yorkville Capital Management, LLC, the investment sub-adviser to the Fund (the “Advisor”).

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