0001580642-18-002101 Sample Contracts

SARATOGA ADVANTAGE TRUST INVESTMENT MANAGEMENT AGREEMENT JAMES ALPHA STRUCTURED CREDIT VALUE PORTFOLIO
Investment Management Agreement • April 18th, 2018 • Saratoga Advantage Trust • Delaware

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

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INVESTMENT SUB-ADVISORY AGREEMENT BETWEEN James Alpha Advisors, LLC AND Orange Investment Advisors, LLC REGARDING THE SARATOGA ADVANTAGE TRUST
Investment Sub-Advisory Agreement • April 18th, 2018 • Saratoga Advantage Trust • Delaware

AGREEMENT made this [ ] day of [ ] between James Alpha Advisors, LLC, a New York limited liability company (the “Manager”), and Orange Investment Advisors, LLC, a Delaware limited liability company (the “Sub-Advisor”).

SARATOGA ADVANTAGE TRUST FEE WAIVER AND OPERATING EXPENSE LIMITATION AGREEMENT FOR CLASS S SHARES
Fee Waiver and Operating Expense Limitation Agreement • April 18th, 2018 • Saratoga Advantage Trust • Delaware

THIS FEE WAIVER AND OPERATING EXPENSE LIMITATION AGREEMENT FOR CLASS S SHARES (the “Agreement”) is effective as of the [ ] day of [ ], by and between Saratoga Advantage Trust (the “Trust”), on behalf of the James Alpha Structured Credit Value 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 FOR CLASS A, I, C SHARES
Operating Expense Limitation Agreement • April 18th, 2018 • Saratoga Advantage Trust • Delaware

THIS OPERATING EXPENSE LIMITATION AGREEMENT FOR CLASS A, I, AND C SHARES (the “Agreement”) is effective as of the [ ] day of [ ], by and between Saratoga Advantage Trust, (the “Trust”), on behalf of the James Alpha Structured Credit Value Portfolio, a series of the Trust (the “Fund”), and James Alpha Advisors, LLC, the investment adviser to the Fund (the “Manager”).

SUB-EXPENSE LIMITATION AGREEMENT FOR CLASS S SHARES
Sub-Expense Limitation Agreement • April 18th, 2018 • Saratoga Advantage Trust • Delaware

THIS SUB-EXPENSE LIMITATION AGREEMENT FOR CLASS S SHARES (the “Agreement”) is effective as of the [ ] day of [ ], 2018, by and between James Alpha Advisors, LLC (the “Manager”), the investment adviser to the James Alpha Structured Credit Value Portfolio (the “Portfolio”), a series of The Saratoga Advantage Trust (the “Trust”), and Orange Investment Advisors, LLC (the “Advisor”), the investment sub-advisor to the Portfolio.

MARKETING AND DISTRIBUTION SUPPORT AGREEMENT BETWEEN JAMES ALPHA ADVISORS, LLC AND Orange Investment Advisors, LLC REGARDING THE
Marketing and Distribution Support Agreement • April 18th, 2018 • Saratoga Advantage Trust • Delaware

THIS MARKETING AND DISTRIBUTION SUPPORT AGREEMENT (the “Agreement”) is effective as of the [ ] day of [ ], between James Alpha Advisors, LLC, a New York limited liability company (the “Manager”), and Orange Investment Advisors, LLC, a Delaware limited liability company (the “Sub-Advisor”).

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